“We believe that the biogenic hypothesis is stronger now than when we first proposed it 13 years ago.” ...well thank you Everett. I hope so. In 1996 you got lots of press for finding 'Life on Mars'. Turns out it was terrible science that was later quietly tossed out the window and all guilty parties had to say something like 'Hmm? Oh no, I just brought them coffee, I wasn't part of THAT' for the next ten years worth of job evaluations.
So when that same crew says 'stronger now than we we first proposed' perhaps it is worthwhile to take the message with a grain of salt. The thing it reminds me of? History. It doesn't repeat; but it does rhyme.
If an investment method consistently made 10% a month, or 40% a year, or any other thing without the related losses to bring things back near the mean, don't you think it'd be in use by companies and people with lots of money? Listen. You can beat the market. The market isn't perfect.
But if it was as simple and fool-proof to do as just opening a currency account I'm going to go ahead and say that instead of loaning money to people for things like cars (that lose value rather quickly) financial firms would find a way to get in on that involving their own funds; instead of making their profits from providing you the 'opportunity'.
Realize the most common way to build wealth is slowly. The most common way to lose wealth is quickly.
Put in the time. Learn the ropes and who to listen to. Review track records (the good and the bad, and the amount of up-and-down to get there). Test. Being small makes some things harder; but a bunch of things easier. Avoiding the bad is the easiest way to profit from the good.
Cheers,
Joshua
Monday, December 21, 2009
Monday, December 14, 2009
Hello Silverdome, welcome to the show (and you're just a bit part)
Wanna buy a full on, had-a-Superbowl-in-it stadium for less than one percent of the construction and upkeep costs? Too late. Our friends to the north have scooped up the Silverdome in Pontiac, MI, for just under 600k. ...Yes, while some folks out there have spent that on a two bedroom house with no garage down in Cali, some folks bought a whole stadium for that and now (rather optimistically) plan to field a soccer team there.
Oh I wish my IRA for real estate had more cash in it. See, these types of things happen now and again. There is a hotel in my area worth a great deal to the right people and selling for a song (not the asking price mind you; but what they'd sell it for). You can do well in stocks of course. I personally like things I can see, touch, and work a deal on.
More what I wanted to touch on today was the cost of waiting, and the price of pride. See, Pontiac had the chance to see that stadium for $20,000,000... several times. In total they've had at least 7 on-paper offers. The issues ranged from feeling that wasn't 'enough' (waiting and pride in that error), to terrible city administration (more of the pride) and beyond.
The result is that the city of Pontiac has wasted years and lost more than $25 million that it could have had (previous offers + expenses on the property during the interim).
Unfortunately we've seen this show before, and it isn't over. Cities across the globe have an issue; people with no business sense are running the business of the city. The results are comedic; but not when it's your tax dollars being lost. You can profit from all this though... at least get back the money they took in taxes.
A quick game plan:
Use your skills and knowledge to be on the lookout for deals. Be patient. The best investors (in stocks, real estate, tax liens, or otherwise) wait to pull the trigger. Learn the ropes. Prepare all your documents and numbers. Watch deals go by. Wait. There will be plenty of chances over the next two or three years realistically.
Use experts in their fields to help you either each time, or to train you. Consult. Find a couple folks with opposing few points and listen to them... they are either wrong and you can prove it (to yourself; no need to bother them) or they will show you something you missed and save you untold sums of cash.
Have your money available to act. Do it. Gain or loss... learn. Do it again and again. Extra points if you focus on a way or arena that could allow you to take advantage of such pricing anomalies in other nations; particularly if you have knowledge of said other nation. Do that a couple times and you could have a whole new business.
Anyway, the city of Pontiac is a tragic place whose mayor either has a friend in Canada, or could use one. Be smarter than them about when to sell, and take advantage of opportunities to secure your retirement by being on the lookout. 'Lazy' investors won't like these next ten years too much. Don't be one of them. Learn, get equipped, and rock it.
As always, comment, ask questions, or whatever and I'll email or post back accordingly.
Cheers,
Joshua
Oh I wish my IRA for real estate had more cash in it. See, these types of things happen now and again. There is a hotel in my area worth a great deal to the right people and selling for a song (not the asking price mind you; but what they'd sell it for). You can do well in stocks of course. I personally like things I can see, touch, and work a deal on.
More what I wanted to touch on today was the cost of waiting, and the price of pride. See, Pontiac had the chance to see that stadium for $20,000,000... several times. In total they've had at least 7 on-paper offers. The issues ranged from feeling that wasn't 'enough' (waiting and pride in that error), to terrible city administration (more of the pride) and beyond.
The result is that the city of Pontiac has wasted years and lost more than $25 million that it could have had (previous offers + expenses on the property during the interim).
Unfortunately we've seen this show before, and it isn't over. Cities across the globe have an issue; people with no business sense are running the business of the city. The results are comedic; but not when it's your tax dollars being lost. You can profit from all this though... at least get back the money they took in taxes.
A quick game plan:
Use your skills and knowledge to be on the lookout for deals. Be patient. The best investors (in stocks, real estate, tax liens, or otherwise) wait to pull the trigger. Learn the ropes. Prepare all your documents and numbers. Watch deals go by. Wait. There will be plenty of chances over the next two or three years realistically.
Use experts in their fields to help you either each time, or to train you. Consult. Find a couple folks with opposing few points and listen to them... they are either wrong and you can prove it (to yourself; no need to bother them) or they will show you something you missed and save you untold sums of cash.
Have your money available to act. Do it. Gain or loss... learn. Do it again and again. Extra points if you focus on a way or arena that could allow you to take advantage of such pricing anomalies in other nations; particularly if you have knowledge of said other nation. Do that a couple times and you could have a whole new business.
Anyway, the city of Pontiac is a tragic place whose mayor either has a friend in Canada, or could use one. Be smarter than them about when to sell, and take advantage of opportunities to secure your retirement by being on the lookout. 'Lazy' investors won't like these next ten years too much. Don't be one of them. Learn, get equipped, and rock it.
As always, comment, ask questions, or whatever and I'll email or post back accordingly.
Cheers,
Joshua
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