bertusgeert 1 #1 October 30, 2005 A buddy of mine plays poker, and got lucky (or became skilled as he claims) three weekends in a row. He won over $5000 in less than a month. I'm trying to convince him to invest his money (he doesn't skydive). He already spent, (and lost) some of it. I told him that taking his buddies out for a $250 dinner will not bring you any returns, whereas investing might. I want to give him some more concrete advice. What would you do with $3500 in college? --------------------------------------------- As jy dom is moet jy bloei! Quote Share this post Link to post Share on other sites
rwieder 0 #2 October 30, 2005 QuoteI want to give him some more concrete advice. Why, if i may be so bold as to inquire are you even remotely interested in how, what, when or where he spends or invest / does not invest HIS money? Are you a C.P.A.? If not, you may want to be careful about offering any advice, you could and may wind up liable for something you never intended to be a part of. Food for thought.-Richard- "You're Holding The Rope And I'm Taking The Fall" Quote Share this post Link to post Share on other sites
FallingOsh 0 #3 October 31, 2005 I want to buy 100 shares of Delta for $.75 a piece. If they merge with another airline, you could make some serious money. If they go completely under, you're only out $75.00 -------------------------------------------------- Stay positive and love your life. Quote Share this post Link to post Share on other sites
bertusgeert 1 #4 October 31, 2005 QuoteQuoteI want to give him some more concrete advice. Why, if i may be so bold as to inquire are you even remotely interested in how, what, when or where he spends or invest / does not invest HIS money? Are you a C.P.A.? If not, you may want to be careful about offering any advice, you could and may wind up liable for something you never intended to be a part of. Food for thought. Thanks for the heads up. What exactly is the possible implications of my advice to him? Advice is advice right, take it or leave it. I just want to save a buddy from throwing money away when he could be achieving his dreams - which I know he wants - in my opinion he is just a little clouded and short sighted right now. I was just wanting to give him concrete evidence of what investing early does to your financial future. I think I found it too. "Based on the miracle of compounding interest, money can grow at an exponential rate when earning interest on itself. For example, by investing $1 today at 10 percent, that compounds to $1.10 next year. To put it in perspective, if that earned interest reinvests itself, that $1 today will amount to $117.39 in 50 years. No wonder Ben Franklin called compounding interest the "eighth wonder of the world." Unfortunately, the typical university student does not have a surplus of cash lying around to put away. "When you're in college, it's difficult to invest anything," University of Virginia Commerce Professor Patrick Dennis said. "I barely had enough to buy beer and pizza." But even though it may seem costly to invest now, the losses incurred by not investing until 10 years down the road -- in terms of lost compounded interest -- never can be regained. To get a better picture of how important time really is, consider this: If a 20-year-old puts $1,000 into a mutual fund that returns on average 12 percent a year, by the time he turns 50, that money will have grown to $35,949. But if he waits until the age of 30 to begin, the return will amount to $10,892. A decade can make quite a difference." source: http://www.youngmoney.com/investing/investing_basics/020416_01[url]http://www.youngmoney.com/investing/investing_basics/020416_01 --------------------------------------------- As jy dom is moet jy bloei! Quote Share this post Link to post Share on other sites
rwieder 0 #5 October 31, 2005 QuoteThanks for the heads up. What exactly is the possible implications of my advice to him? Advice is advice right, take it or leave it. True. The part that "could and may" get you entangled into something you want no part of, is if this person took some of your advice and let's just say lost $10,000.00 He/She then has an option of recouse to fall back on you for the liability for having giving the advice to begin with. Unless your degereed in this field, doesn't mean what works for you may work for your friend. The same way you shouldn't tell a friend with a broken bone let's say, "This is what i did when i broke that same bone" now you do it, and your advice fails your friend. As i said, just food for thought. In our ever litigious society you really have to watch what you say and to whom. Good Luck.-Richard- "You're Holding The Rope And I'm Taking The Fall" Quote Share this post Link to post Share on other sites
Squeak 17 #6 October 31, 2005 what a very sad way to look at the worldYou are not now, nor will you ever be, good enough to not die in this sport (Sparky) My Life ROCKS! How's yours doing? Quote Share this post Link to post Share on other sites
airtwardo 6 #7 October 31, 2005 Tell him to invest in Wax Lips....ya can NEVER go wrong there! ~ If you choke a Smurf, what color does it turn? ~ Quote Share this post Link to post Share on other sites
doorgirl 0 #8 October 31, 2005 He's probably bankrolling his poker, which can actually be quite profitable if you have superior skills. He may or may not have these superior skills, and if not "investing" in the Sklansky poker books from 2+2 Publishing could end up giving him a great return. In the long run it's a game of skill, not luck, and I know a number of people making a good living off of poker. To him, the $250 dinner could be the same as a big hand that he lost, and so the reward to him for taking his buddies out to dinner may be much larger than it would be to you. Quote Share this post Link to post Share on other sites
rwieder 0 #9 October 31, 2005 Quotewhat a very sad way to look at the world Yeah, your right, it's sad, but true. Reality is just that....Reality.-Richard- "You're Holding The Rope And I'm Taking The Fall" Quote Share this post Link to post Share on other sites
stoneycase 0 #10 October 31, 2005 Quote What would you do with $3500 in college? one word: p-a-r-t-y rent a room/rent a suite/rent a condo/rent whatever buy alcohol get girls i'm just old school i suppose, but i can't even believe you're asking this question. you're in college, be in college. if your friend likes gambling, he probably likes partying, shouldn't be hard to convince him. find some boobies, and wave 'em at him. Quote Share this post Link to post Share on other sites
Vectracide 0 #11 October 31, 2005 Definitly a half-empty glass kinda guy, eh? Pity. ------------------------------ Controlled and Deliberate..... Quote Share this post Link to post Share on other sites
bertusgeert 1 #12 November 22, 2005 QuoteHe's probably bankrolling his poker, which can actually be quite profitable if you have superior skills. He may or may not have these superior skills, and if not "investing" in the Sklansky poker books from 2+2 Publishing could end up giving him a great return. In the long run it's a game of skill, not luck, and I know a number of people making a good living off of poker. To him, the $250 dinner could be the same as a big hand that he lost, and so the reward to him for taking his buddies out to dinner may be much larger than it would be to you. You might be right. Since this post happened he has made another $7000 profit. --------------------------------------------- As jy dom is moet jy bloei! Quote Share this post Link to post Share on other sites
Diversgodown 0 #13 November 22, 2005 QuoteA buddy of mine plays poker, and got lucky (or became skilled as he claims) three weekends in a row. He won over $5000 in less than a month. I'm trying to convince him to invest his money (he doesn't skydive). He already spent, (and lost) some of it. I told him that taking his buddies out for a $250 dinner will not bring you any returns, whereas investing might. I want to give him some more concrete advice. What would you do with $3500 in college? Two chick's at the same time ***Glory Favors the Bold*** Quote Share this post Link to post Share on other sites
Ncrowe 0 #14 November 22, 2005 QuoteA buddy of mine plays poker, and got lucky (or became skilled as he claims) three weekends in a row. He won over $5000 in less than a month. I'm trying to convince him to invest his money (he doesn't skydive). He already spent, (and lost) some of it. I told him that taking his buddies out for a $250 dinner will not bring you any returns, whereas investing might. I want to give him some more concrete advice. What would you do with $3500 in college? Hookers and cocaine !! "Don't Mess Around With the Guy in Shades- Oh No!!! " Quote Share this post Link to post Share on other sites
gemini 0 #15 November 22, 2005 Have him put it in an Asian or Far East mutual fund run by a US firm like Fidelity, T Rowe Price, USAA. Any brokerage firm can assist him. By the end of college he could have doubled or trippled his money. Jim Alkek, CPA Blue skies, Jim Quote Share this post Link to post Share on other sites
agent_lead 0 #16 December 16, 2005 100 shares of somthing is a good start... sirius is about 6 bucks a share now..its gonna go up when howard gets there....then sell it off...and reinvest... keep flipping 100 shares...100 shares...thats how i do it.. i recently bought 100 shares of pkz for like 30 bucs a share....sold it in 2 months @ 52 a share... its good money...you just need to do some research and have some good luck..-------------------------------------------- www.facebook.com/agentlead Quote Share this post Link to post Share on other sites
jtval 0 #17 December 16, 2005 7.18 per share today at closeMy photos My Videos Quote Share this post Link to post Share on other sites
AlexCrowley 0 #18 December 16, 2005 Yeah I'm going with whores and drugs. Get high class hookers and walk them around campus. you and your buddy will be screwing every hot girl at the school for the rest of your academic career. Just dont let on they're whores. TV's got them images, TV's got them all, nothing's shocking. Quote Share this post Link to post Share on other sites
shmali 0 #19 December 16, 2005 I would not recommend buying delta, at least not for the hoping it merges to make money etc. I had cannondale a little while back and it split and got sold/bought out. the statement that was released pretty much said that only stockholder who were stockholders as of 3 or 5 months before the company announced bankruptcy would be eligible for the mergers new shares etc... just something you might want to look into a bit more. Pineappe Death Juice, If you have to ask you'd rather not know! Quote Share this post Link to post Share on other sites
jheadley 0 #20 December 16, 2005 "Based on the miracle of compounding interest, money can grow at an exponential rate when earning interest on itself. For example, by investing $1 today at 10 percent, that compounds to $1.10 next year. To put it in perspective, if that earned interest reinvests itself, that $1 today will amount to $117.39 in 50 years. No wonder Ben Franklin called compounding interest the "eighth wonder of the world." Don't forget you have to take into account inflation. If the annual inflation rate is 3%, then 117 dollars in 50 years is really only worth about 27 dollars. (I think I did that math right ) Quote Share this post Link to post Share on other sites
BoostedXT 0 #21 December 16, 2005 Here is some food for thought..... If you had purchased $1,000.00 of Nortel stock one year ago, it would now be worth $49.00. With Enron, you would have $16.50 left of the original $1,000.00. With WorldCom, you would have less than $5.00 left. But if you had purchased $1,000.00 worth of beer one year ago, drank all the beer, then turned in the cans for the aluminum recycling price, you would have $214.00. Based on the above, current investment advice is to drink heavily and recycle. JoeFor long as you live and high you fly and smiles you'll give and tears you'll cry and all that you touch and all that you see is all your life will ever be. Pedro Offers you his Protection. Quote Share this post Link to post Share on other sites
