DAMN YOU CHINA

[Stretch]

I lost $400.00 today

I hate China

[Daniel]

Mail order bride not come through?

[TheEschaton]

Uhhh, the stock market fell over 400 points today on fears of a global slowdown, due to China, Daniel. ;)

Don't worry, Vinh, I lost much more. It's all relative. Everyone else lost the same amount proportionately, but damn, I wish I hadn't been in class at 2:45 (and that my laptop worked). ;)

-TheE-

[Gan]

Unless you cash out, you really have not 'lost' it...

Its just 'down' at the moment. Tomorrow will be another day and with it, different results. PS. Dont expect anything good from China's markets for a while. This is one of many corrections they've set themselves up for, thats been a long time in coming.

[Keller]

Agreed, Gan. I can't imagine China's markets to continue growing. They've got to correct for the hyper-investment that people have been doing.

[TheEschaton]

Now that the market's closed I have final numbers on what I lost today:

Total 1 $254,493.00 $-10504.50 (-3.96%)

Luckily, that's my highest risk portfolio, my bonds didn't lose nearly as much (In fact, I think it was down only 0.2%). But losing 4% of any of your portfolios is a pain in the ass.

-TheE-

[Kranar]

I made 900 bucks today from it, I only get to keep 40% of it though.

Thank God for shortselling. It was really annoying near the end of the day when you couldn't get your orders filled thought. My trading strategy for the past 2 weeks has typically been to short sell AMD stock since it's just been dropping and dropping like crazy.

[AestheticDeath]

how come you only get to keep 40%?

[Parkbandit]

It's nothing more than a market adjustment... all gains from 2007 have just gone. I think tomorrow will be a down day.. but I plan on buying while the price is low and the idiots continue to sell.

I'll make money because of today.

[Kranar]

I work for a trading firm pretty much as an independent contractor. They provide me with all the resources I need to trade live on the NYSE or Nasdaq.

The way it works is I get 1.2 million dollars worth of cash that I can trade but if I lose more than 250 bucks I get shutdown for the day and have to wait until the next day to trade again. Whatever money I lose I never have to pay out of my own pocket for it, the company pays for my loss, but then any money I make I only get 40% of it.

Being a university student, basically what I do is go in at 9:15 AM, read all the important news for the day in 15 minutes, then when 9:30 AM hits people on the NYSE start trading like crazy. I find a company that has a large amount of trading going on (GE, TWX, DIS, AMD, F are the biggies) and then follow whatever the trend is. By 9:50 AM I usually make 200-300 bucks (only get 40% of that), and then I head out to my 10:10 AM lecture. A quick 100 bucks for 30 minutes of work.

Basically the only time any kind of trading occurs is from 9:30 AM to 10:30 AM, and then it's dead until 3PM when it starts to pick up slowly... then at 3:45 PM it goes wild until 4PM when it shuts down.

Today it was obvious in the morning that something big was going on so I came back at around 2ish and everyone was just screaming to shortsell any big stock. Seeing as how I typically shortsell AMD stock I just figured I'd go with the flow and it payed off quite nicely.

[Apathy]

It's nothing more than a market adjustment... all gains from 2007 have just gone. I think tomorrow will be a down day.. but I plan on buying while the price is low and the idiots continue to sell.

I'll make money because of today.

Proper attitude & outlook ftw.

[Bobmuhthol]

<<(GE, TWX, DIS, AMD, F are the biggies)>>

AMD has been disappointing me since I started tracking it last summer. I had confidence in it when it was at around $18 and watched it climb into the mid-20s, only to fall from there and make me very sad.

[Kranar]

For me I don't care if a stock does good or bad, all that matters is volume and AMD has a lot of volume on it not to mention it's on a pretty stable downward trend. AMD is also perfect since it can be shorted on the spot unlike some companies where you can only short it if you put yourself on the offer queue which is pretty risky and can take a long time to get filled.

[AestheticDeath]

I wish I knew something about trading stocks. I don't see how you made money selling stocks that are going down... :(

[Kranar]

It's kind of funny how it works.

Basically as a simple example let's say a single share of AMD is worth 50 bucks right now. If I think it's going to drop in price, then what I do is I ask the bank to loan me a single share of AMD, and if they have a bunch of available AMD stock, they'll lend it to me no problem. Just like they can lend me cash, they can lend me stock too.

So they lend me a single share of AMD and I immediately sell it for 50 dollars. I now owe the bank 1 share of AMD stock, so I need to return it to them at some point. Let's say the price of AMD stock drops to 40 dollars. Well then, I buy back a single share of AMD stock, and give that back to the bank so I no longer owe the bank anything.

The net result... I sold AMD stock for 50 dollars, and bought it back for 40 dollars, meaning I made myself 10 bucks. The problem though is that if AMD stock rises to 60 dollars, then I have to pay 60 bucks to buy back that AMD share, which means I lost 10 bucks.

Of course, the way I trade, I typically sell 2000-3000 shares of AMD stock for like $15.23 and buy it back for $15.22-$15.21 within 10 seconds.

Theoretically, if I short sell a stock, I can lose an infinite amount of money since there is no limit to how much stock can be worth, I might buy it for 10 bucks and it goes up to 1000 bucks. However, there is always a limit to how much you can lose if you buy stock, because the worst that can happen is the stock is worthless in which case you just lose however much you paid for it.

Make no mistake, when the market tanks, plenty of people are cashing in big time as a result of it. What makes it worse is that if the market tanks, then everyone starts wanting to short sell stock which makes it tank even worse. If it gets too a point where everyone is shorting stock trying to crash the market then the bank being Meryl Lynch will refuse to loan out that stock and there are other regulations that ensure that things don't get too out of control.

Anyhow, looks like tomorrow is going to be another bad day for the market.

[AestheticDeath]

Thanks. I had never thought about borrowing stock like that from a bank.

I may have to look into the stock market at some point and learn some more about it.

[Daniel]

Heh.

I'm pretty much on the same page as PB.

I don't even look at my portfolio other than at bi-yearly intervals. Automatic withdrawl into pre-selected IRA and Mutual funds with 10+ years of significant growth ftw.

I learned my lesson from when I first started investing and would get wtf pwned anytime the market flucuated. So, I just placed an order for some cheap AMX and Microsoft stock.

Word.

[AestheticDeath]

Actually- is that a simplified version? Or the real question is.. does borrowing stock from a bank not require some sort of payment, as in interest like you would have on a cash loan? Or is it really borrow 1 stock, repay 1 stock.

Eh or is this going back to the other post about a company(being the bank or something) taking your losses, but paying you 40% of the profit you make.. You are basically paying 60% interest?

[Hulkein]

Fuck stocks, play blackjack.

I'm up around 1 grand lifetime playing blackjack at AC, down 300 on stocks :(

[Keller]

Of course, the way I trade, I typically sell 2000-3000 shares of AMD stock for like $15.23 and buy it back for $15.22-$15.21 within 10 seconds.


Arbitrage makes me horny.

[Kranar]

Actually- is that a simplified version? Or the real question is.. does borrowing stock from a bank not require some sort of payment, as in interest like you would have on a cash loan? Or is it really borrow 1 stock, repay 1 stock.


Depends how you trade, the way I trade is I get into a trade and 5-10 seconds later I'm out, there's no interest involved on loans whether it's cash or stock unless you keep it overnight, so I don't pay interest. But yes, if I shortsell stock I literally borrow it from Merryl Lynch. It's all automatic, I just push the button to sell the stock and if I don't own the stock the program automatically and instantly borrows the stock for me. If you're investing for the long run then you'll be trading entirely differently in which case you likely shouldn't be short selling stock period. Shorting is not a good long term investment strategy.

The average person can't trade this way anyways, simply because he will be consumed by fees and you need millions of dollars to be able to do it effectively. For one, you can only buy/sell stock in the 100s, you can't buy a single share of AMD, you'd have to buy 100 or 200 etc... To trade normally using like ScottTrade it costs like 5-6 bucks per trade which means to get in and out you have to spend 10-12 bucks not to mention it could take minutes to complete the transaction. To trade directly on the stock market costs me about 30-40 cents and it's instantaneous, even if the trade takes like 5 seconds that's too long, it really needs to happen in the blink of an eye to be effective.

There's definitely a world of difference between trading for the long run and trading within seconds and none of what I say has any applicability to long term trading. I will be the first to admit that I could care less about things like commerce, business, finance and all of that stuff, I'm a computer scientist plain and simple. The one thing I can do is recognize patterns/trends quickly, read charts and interpret raw numerical data regardless of what the underlaying cause is and jump onto a good deal when all of the information converges. That works in the short term when you're just jumping in and out in the blink of an eye. It's definitely not an easy job and plenty of people don't make it past training. But once you get the hang of it, it's actually pretty fun and intense.

[Daniel]

I thought you worked for Microsoft

[Kranar]

I'm a student at the University of Toronto.

I worked for Microsoft this past summer, during the school year I train with the Canadian Army Reserve and took up this job at Swifttrade, and this summer I'll be working for Google right in the heart of Silicon Valley (kind of excited about it). Long term I plan on settling with either Google or Microsoft, most likely Google; trading stock is definitely just a part time thing.

[Sean of the Thread]

Wow working at Google.. congrats man that's awesome.

[Stanley Burrell]

Private investment, private investment, private investment.

Private investment.

[Skeeter]

Fuck stocks, play blackjack.

I'm up around 1 grand lifetime playing blackjack at AC, down 300 on stocks :(

Blackjack is a sucker game. Unless you count cards.

Poker on the other hand, great way to supplement an income. I made 600 in the last 2 weeks.

[Sean of the Thread]

Blackjack is a sucker game. Unless you count cards.

Poker on the other hand, great way to supplement an income. I made 600 in the last 2 weeks.

I make 600 in 2 hours.

[Skeeter]

I'm a student at the University of Toronto.

I worked for Microsoft this past summer, during the school year I train with the Canadian Army Reserve and took up this job at Swifttrade, and this summer I'll be working for Google right in the heart of Silicon Valley (kind of excited about it). Long term I plan on settling with either Google or Microsoft, most likely Google; trading stock is definitely just a part time thing.

So, will you be the person that looks up all my websites?

[Anebriated]

Are there any good fantasy stock markets out there anymore? I used to play yahoo's monthly challenge a lot but they seem to have done away with it.

[Anebriated]

Blackjack is a sucker game. Unless you count cards.

Poker on the other hand, great way to supplement an income. I made 600 in the last 2 weeks.


If you know the odds blackjack is a great game to make a steady flow of cash. Poker has its ups and downs and you have to be able to play the other players to make decent money at it. Ive made a pretty good amount playing blackjack and craps at AC.

[Xaerve]

Wow working at Google.. congrats man that's awesome.

If you're a programmer: Yes.
If you're going in for 'business': No.

I turned down two job offers from them this year. The company is run by the software engineers (which I think is a good thing)-- but its not a good thing for the individuals in Marketing, where I had one offer, and Global Strategy, where I had my other offer.

[Skeeter]

Even if you play perfect strategy the house has an edge at blackjack. Simple math tells you that you can beat the edge in the short term, but you play long enough you will lose money at blackjack.

No house edge at poker. if you play perfect strategy you will make money off of other players mistakes.

Blackjack is a fun game, I just wouldn't use it as a retirement plan.

[Xaerve]

Pro-tip: Its all called gambling for a reason. Any argument trying to justify playing the game for any other reason is silly.

[Anebriated]

Yeah there is no house advantage in poker because you dont play the house. Even the best played strategy in poker can be one upped by lucky cards. That theory holds true in any card game but I like blackjack because you can minimize the advantage the house has by playing smart odds. Same with craps. Hell, they even let you bring in a cheat sheet with all of the blackjack numbers and if you should hit/stand if you really wanted, seen people do that before.

[Jorddyn]

Now that the market's closed I have final numbers on what I lost today:

Total 1 $254,493.00 $-10504.50 (-3.96%)

Luckily, that's my highest risk portfolio, my bonds didn't lose nearly as much (In fact, I think it was down only 0.2%). But losing 4% of any of your portfolios is a pain in the ass.

-TheE-

Not having over a quarter million dollars at 24 (random age guess) is a bigger pain :)


Edited to add: Dow is currently up about 100 on the day. Over/under on huge nose dive at about 3:45 when the remaining panicky types bail?

Jorddyn, lost about $2k yesterday

[Skeeter]

George Bush funds terrorists. I thought you knew?

[Gan]

Blackjack is a sucker game. Unless you count cards.

Poker on the other hand, great way to supplement an income. I made 600 in the last 2 weeks.

Poker is a zero sum game in the long run because you have a house rake.

That being said, I play poker because I love the game thus I get utility out of playing which I consider offsetting of the rake. Also knowing when to walk away is key.

With regards to the stock market. I am vested with mutual funds and bonds, thus I rely on the expertise of the fund manager (AG Edwards) to oversee my portfolio. I do not have the time to daily monitor everything I invest in. Nor do I have the wish to do so. That and I'll pass on revealing my portfolio value.

[Kranar]

To be absolutely precise and this may seem counterintuitive...

Blackjack can provably be beaten if you play using an increased betting strategy. The basic blackjack strategy of counting cards allows the player to have a raw win percentage of roughly %49.4-%49.7 depending on the variation.

While this win percentage is below 50%, in order to compensate for it what the player does is make bigger bets when there are fewer cards remaining in the deck. So you make small bets on a new deck when there are plenty of cards, then you start counting cards, and as the deck decreases in size you increase your bet in proportion to the decrease in size. This way, even though your win percentage is less than 50%, your expected return can reach up to 2% of the average amount of your bets, meaning you win money in the long run. Suffice it to say, to pull this strategy off flawlessly is incredibly difficult and it's not uncommon for people to train like crazy to master card counting techniques. Any mistake in the strategy and you set yourself back.

Poker is a much more difficult game to analyze and can not be studied using the same principles of Blackjack since when you play Blackjack, you're playing against an automaton opponent (the dealer) so you know exactly what moves he's required to make.

I don't care much for Blackjack, it's not an interesting game theoretically. I do, however, have a significant interest in poker from a programming point of view. I made a pokerbot called Deep Green that I had playing on Pokerstars until I got banned because of it. Also at Microsoft people there are huge on poker and I was fortunate to meet many of them and discuss/share AI poker strategies. Many employees at MS privately write custom programmed pokerbots to play online and auction them off for $1000s.

[Sean of the Thread]

If you know the odds blackjack is a great game to make a steady flow of cash. Poker has its ups and downs and you have to be able to play the other players to make decent money at it. Ive made a pretty good amount playing blackjack and craps at AC.

BJ is for nubs. Poker is where the steady cash is. (especially 7 card vs social security checks)

[Anebriated]

Im not really disagreeing with you guys as poker is my preferred game. Just saying its easier to take on the house than 7 other random people where you have to play against various strategies and hands. You can win a lot more but you can also get knocked out by that crappy river card.

edit: kranar, hook it up with a poker bot :)

[TheEschaton]

Not having over a quarter million dollars at 24 (random age guess) is a bigger pain :)


Edited to add: Dow is currently up about 100 on the day. Over/under on huge nose dive at about 3:45 when the remaining panicky types bail?

Jorddyn, lost about $2k yesterday

I am 25, I will be 26 this year.

I am actually with PB on this one - I think it's just a blip and am not concerned about it at all. I've already made about 2k of what I lost yesterday back, and that's just in one day of recovery.

Although I think soon it might be time to bail out of my emerging markets stuff, but gonna have to wait til the prices recover a bit more. We'll see how the quarter pans out.

-TheE-

[Sean of the Thread]

Give your money to charity you spoiled brat. (also spend some of it on a haircut)

[Skeeter]

I'd be interested in seeing your poker bot in action Kranar.

[Sean of the Thread]

I'd be interested in seeing your poker bot in action Kranar.

They're pretty on top of now days I've read.. but I'm with you. I'd like to see it PWN !!

[Gan]

Give your money to charity you spoiled brat. (also spend some of it on a haircut)

:rofl:

As has been discussed in previous threads where TheE's (internet claimed*) financial status came up... It definately explains his perspective on many many things in real life.

*It has been established that of the many things covered by internet users who describe themselves, the categories that are usually the most exaggerated (and abused) are physique, beauty, age, gender, sexual prowess, and wealth (not in any particular order).

**Edited to add: It matters little to me, as a person, what TheE's wealth status is, as it is irrelevant to anything but background in understanding how the person behind the screen name posts their ideals. So at this point I will emphasize, other than how it relates to the topic at hand and how TheE views topics discussed here on the PC, its of no consequence.

[Sean]

We (the boards) have been over this in the past between TheE and Tamral and I believe TheE willingly donated a fair sum to SpunGirl to donate to the charity of her choosing to shut Tamral up.

[Sean of the Thread]

We (the boards) have been over this in the past between TheE and Tamral and I believe TheE willingly donated a fair sum to SpunGirl to donate to the charity of her choosing to shut Tamral up.

If that is true TheE will receive a SHIPLOAD more of my respect. Being how tamral runs his trap about his "causes" and what not.



*It has been established that of the many things covered by internet users who describe themselves, the categories that are usually the most exaggerated (and abused) are physique, beauty, age, gender, sexual prowess, and wealth (not in any particular order).

For the record I'm fat.. HANDSOME! 29 years old and had more sex than the neighbors cat. I am also poor @ 50kish a year. (not counting poker and football riches)(shhhh IRS)(shhhhhh)

[DeV]

Jorddyn, lost about $2k yesterdayI lost about $600 yesterday, but in the process I picked up a couple more shares of the stock I held and I'm quite happy with the outcome so far.

I wish I started trading stocks at a much younger age, but better late than never.

[Sean of the Thread]

If that is true TheE will receive a SHIPLOAD more of my respect. Being how tamral runs his trap about his "causes" and what not.



http://forum.gsplayers.com/showpost.php?p=176703&postcount=211

[Kranar]

I'd be interested in seeing your poker bot in action Kranar.

You're more than welcome to the source tree, which I've posted. Hopefully it still works but the software has changed since I last used it. I can't even login to Pokerstars or make a new account (I tried and it said I can not create an account from this computer) but if I manage to get an account I can work on updating it to take into account the new graphics/table layout it has. It thus goes without saying that you're best to use this at a Play Money table to avoid getting banned.

To see if it works, play a Limit hold'em game, set it so that Player Pictures are disabled, and also choose the No Images theme. Then sit down at an available table so that you're actually ready to get cards and play the game. Then run Deep Green\Deep Green.exe and make sure the poker table isn't obstructed by anything, it has to be in clear/full view.

A console window should pop up and it should actually report information like what it thinks has happened, what hole cards it thinks you have, and it will then play the game for you. It should move the mouse and everything accordingly while you sit back and watch it.

At any rate, if you or anyone else here is interested in this kind of stuff, I'd be more than willing to discuss this and get to work on another pokerbot project.

Source Code
http://www.gsplayers.com/kranar/Deep%20Green.rar

[Artha]

If that is true TheE will receive a SHIPLOAD more of my respect. Being how tamral runs his trap about his "causes" and what not.
I don't remember exactly how it went down, but Tamral said he'd donate a matching amount, and E donated a four or five figure sum.

[Sean of the Thread]

I posted the link above. It was $500 dollars.. and it shut tamral right the fuck up.

[Sean of the Thread]

You're more than welcome to the source tree, which I've posted. Hopefully it still works but the software has changed since I last used it. I can't even login to Pokerstars or make a new account (I tried and it said I can not create an account from this computer) but if I manage to get an account I can work on updating it to take into account the new graphics/table layout it has. It thus goes without saying that you're best to use this at a Play Money table to avoid getting banned.

To see if it works, play a Limit hold'em game, set it so that Player Pictures are disabled, and also choose the No Images theme. Then sit down at an available table so that you're actually ready to get cards and play the game. Then run Deep Green\Deep Green.exe and make sure the poker table isn't obstructed by anything, it has to be in clear/full view.

A console window should pop up and it should actually report information like what it thinks has happened, what hole cards it thinks you have, and it will then play the game for you. It should move the mouse and everything accordingly while you sit back and watch it.

At any rate, if you or anyone else here is interested in this kind of stuff, I'd be more than willing to discuss this and get to work on another pokerbot project.

Source Code
http://www.gsplayers.com/kranar/Deep%20Green.rar

Count me in.


Also I KNOW you KNOW how to proxy man. You can get around bans short of credit info no problem.

[Sean]

"I posted the link above. It was $500 dollars.. and it shut tamral right the fuck up."

It was $500 to Tamral and $500 to Spungirl so $1000 total

[Parkbandit]

If you know the odds blackjack is a great game to make a steady flow of cash. Poker has its ups and downs and you have to be able to play the other players to make decent money at it. Ive made a pretty good amount playing blackjack and craps at AC.

The cards denote win/loss in blackjack.

You can win in poker with shitty cards.

I choose poker.

[Parkbandit]

I made a pokerbot called Deep Green that I had playing on Pokerstars until I got banned because of it. Also at Microsoft people there are huge on poker and I was fortunate to meet many of them and discuss/share AI poker strategies. Many employees at MS privately write custom programmed pokerbots to play online and auction them off for $1000s.


AND THIS IS WHY I REFUSE TO PLAY ONLINE POKER.

[Skeeter]

I'm definately interested Kranar.

PB even a bot is beatable. I'm just curious to see how the bot would stack up to the way I normally play.

[Hulkein]

Blackjack is a sucker game. Unless you count cards.

Poker on the other hand, great way to supplement an income. I made 600 in the last 2 weeks.

I'm all right at hold-em tournaments, but I'm not as good at limit. I'm not usually down AC enough to get in for the tournaments, and I lose interest playing online.

As for blackjack, I kind of count cards. I use the +1 -1 method.

[Back]

There was an experiment a while ago where students threw darts at a board of abbreviations, put Monopoly money in them, and they came out ahead after a period of time. I like cards when I’m in LV but not enough to think its some kind of long-term money-making retirement plan.

Looks like the dip was just a ripple just like a few in this thread predicted. I suspect it happened because of what Alan Greenspan said the day before.

[TheEschaton]

Dudes, I did not mean to start something about boasting or shit like that. It was a rather simple statement, I lost 10 grand in the stock market yesterday. It was to put Vinh's statement in more perspective.

To address a larger concern (of mine, really), I will say this. When I turned 18, my father gave me the money he had saved for my college education (plus quite a bit more), and told me it might be a good idea to invest it, since he no longer needed it to pay for my college (he had recently gotten a promotion). So, I have. I don't really pay attention to it, but I do have a good broker. I only checked it yesterday because all my classmates were like "OMFG, stock market crash!!!!!!11"

Since then, my tendancy is to try and not be so attached to it. I lived off my salary as a social worker in the year after graduation, and not that. A part (a small part, but definitely a part) of why I did the Peace Corps for 2 years was to see if I could live simply, without anything beyond the stipend given to me by the Peace Corps, which is part of what I want my personal and spiritual philosophy to be. And I could, and I did. It was actually much easier than I thought it would be. Money, after a point, seems to merely clutter one's life - it was nice to be stripped of that. I try and maintain it now. Sometimes I succeed, but to tell the truth - in law school, I fail more often than not. People party a lot.

Since I came back in August, the money gnaws at me more than anything else. Lots of my personal politics eschews personal gain for the good of all, but it seems historically people discount people with money to be of these particular philosophies that I subscribe to, saying "It's easy when you have it made to advocate giving your money away..." I'd like to think if I had not a dollar to my name my politics would be the same - but of course I don't know. My family hasn't been penniless in 20 years. Of course we came to this country with about $40, and lived in a cockroach infested apartment in Philly....but my dad also had a scholarship and grant to get his MBA at Wharton. So, not really poor.

As to where I go from here - I don't know. My father (who has similar, but not as radical politics as me) seems to espouse capital and the raising thereof as a means to promote progressive causes. He's set up his own foundation to address the issues, and, as I understand it, pours his own money into it in an effort not to forget where he came from. I, on the other hand, never knew where I came from - so I don't know. At this point, I could follow my father, but I tend to think massive personal wealth is a trap - I can even see it among my parents, who grew up poor in New Delhi. Rather, my current thinking is this - one I am done with law school and get a job (in public interest), I donate what I have left, and start from 0. No debt, no assets, the money I donate to a good cause which needs it. I live true to my ideals on the 45k a year ADA's make. It's an idea, but yeah, I struggle with it all the time. One of the downsides: some people say if I have the opportunity to make lots of money (and use it for good causes) it's a wasted opportunity to do good if I do give it up.

Luckily, I've been blessed enough to have the opportunity to struggle with it. Hey, at least I struggle. I like to think it's my Catholic duty to do so. ;)

-TheE-

[Back]

My grandpa taught me to never talk about your salary with anyone.

[TheEschaton]

My grandpa taught me not to smoke so much pot I couldn't function in everyday society. ;)

-TheE-

[Back]

My grandpa taught me not to smoke so much pot I couldn't function in everyday society. ;)

-TheE-

You had a smart grandpa.

[AestheticDeath]

I am a greedy fucker, I won't ever give away money unless I have way more than I know what to do with. As it is.. I am poor, and I don't part with my money easily.

I don't know why you think you need to donate to other people, or why you would feel like you need to live by your own means. If someone gave you money - do what YOU want to do with it, and forget about anyone thinking badly about you if you use it for your own personal enjoyment or something.

[TheEschaton]

Ha. Let's turn this back to the original topic, quickly, before it devolves into an argument of moral and political values, because those always devolve into one of two responses: BUSH IS TEH SUX0R!!!!111 or LOL, L2P LIBRAL N00BS!!!!!!11

So, the market seemed to recover a bit today. Bernancke (sp?) seemed to do a good job of reassuring Wall Street. I find it hilarious that Wall St. is so finicky. I think Friedman discussed this phenomenom in Lexus and the Olive Tree.

-TheE-

[Alfster]

Hey TheE, if that money burns you, you can always ditch it to me!

[Stanley Burrell]

to see if I could live simply, without anything beyond the stipend

Doable with relative luxuries and not a lot of string pulling needed.

At least in some science fields.

[TheEschaton]

Wow, I just reread most of the thread Xy linked to. I sounded like a pretentious asshat. Especially how I dealt with SG. ;) I couldn't help thinking, "Damn, I sound like Latrin..."

At least Tamral was good to his word, my dog kept getting mail to continue donating to Rosie's Place. Ha.

-TheE-

[Sean of the Thread]

AND THIS IS WHY I REFUSE TO PLAY ONLINE POKER.

You refuse because I am by far the best player on the boards.

[Alfster]

doubtful

[Skeeter]

very doubtfull.

[Stretch]

Dude, I only have $15k to my name (discounting my untouchable Roth IRA). I sank $10k of it in equity and the other $5k in an 'emergency' savings account.

That $400 looked incredibly shitty at the end of the day. I am in it for the long term, so I'm not pulling my money out or anything. I don't have enough money to want to try and game this temporary downturn, and I certainly don't have enough money to want to bleed it. I just really, really hate China right now.

[Jorddyn]

Dudes, I did not mean to start something about boasting or shit like that. It was a rather simple statement, I lost 10 grand in the stock market yesterday. It was to put Vinh's statement in more perspective.

I didn't mean to slam you at all. It was a point that you have a quarter million dollars and you're 25. For perspective, that's more than I made total, before taxes, in my first 5 years out of college. It's well above above what the average person makes in 5 years. I think trying to put his statement in perspective had the opposite effect - no one's going to have a lot of sympathy/empathy because you lost 10 grand of it.

That said, I'm quite happy for you. Don't give it all away and start from 0 to prove a point, even to yourself. Use it so that you can work where you want, which is quite honorable. Use it as your cushion so that you don't wake up in 10 years hating life because you realized that you only have $10,000 to your name and you need to take a job you hate so you can retire before 65.

Jorddyn, can't find a way to say this without sounding mean, just wants to sound realistic

P.S. Don't let a girl talk you into a $100,000 wedding, and don't let your friends talk you into a $100,000 car :) And never, ever, ever lend someone $100,000. Unless it's your kid.

[AestheticDeath]

How bout I talk you into a $100,000 loan?

[Sean of the Thread]

doubtful


very doubtfull.

Without a doubt.

When you guys do it for a living come back and try to talk shit. I could a pretentious prick about how I've paid more in taxes on gambling than you make in a year but I won't. errr I just did.

[Kranar]

I'm down for an online poker tournament some time if you guys want to set something up. Can't be on Pokerstars though, heh, but I do have active accounts on Full Tilt, Party Poker, PokerRoom and many other sites I've probably forgotten about.

I never knew there was much interest in poker on these forums.

[Alfster]

Without a doubt.

When you guys do it for a living come back and try to talk shit. I could a pretentious prick about how I've paid more in taxes on gambling than you make in a year but I won't. errr I just did.

You cheat too

[AestheticDeath]

Id play poker too. Though I would have to set up another account, as all I had was pokerstars.

[Gan]

Playing for money on internet poker sites is just begging to be taken. Its to easy to collude with known others at a table in order to set up the win. How do I know? Me and a buddy set up a test with 2 scenarios and the telephone. We were able to clean out most ring game tables we both sat at. Tourneys were a little harder until we both landed on the same table, then it was easy pickings.

That being said, I have a play money account on pokerstars if we get up another poker group.

[Xaerve]

I've been making decent money lately on Credit Cards. I apply for 0% cash advance cards, take the money, put it in a high interest savings account, make like 400$ a year, pay the card off in full, rinse repeat. Been doing this for 2 years now.

800$ for 2 hours of work. Not bad.

[Bobmuhthol]

Deep Green didn't work for me, but pokerstars has some pretty retarded hands.

Flop is K K K, there were maybe 5 people playing at the table, turn is Q, river is 3, and what do you know... three people have a Q for the full house.

[Gan]

Deep Green didn't work for me, but pokerstars has some pretty retarded hands.

Flop is K K K, there were maybe 5 people playing at the table, turn is Q, river is 3, and what do you know... three people have a Q for the full house.

Now thats a kiss your sister hand. :(

[Keller]

I've been making decent money lately on Credit Cards. I apply for 0% cash advance cards, take the money, put it in a high interest savings account, make like 400$ a year, pay the card off in full, rinse repeat. Been doing this for 2 years now.

800$ for 2 hours of work. Not bad.

Wont this give you a terrible credit rating?

I thought each time you apply for/get a new CC it shows up on your rating.

[Skeeter]

I play regularly on Absolute Poker. It's a nice supplement.

[Gan]

Wont this give you a terrible credit rating?

I thought each time you apply for/get a new CC it shows up on your rating.

A lot depends on how long he held the trade line open (probably for the length of the 0% APR introductory period), if he made any late payments (30/60/90 day lates), and if these trade lines were in addition to any other stable lines that are under his name that have a longer history.

Now if these were the only trade lines he had open and he kept shutting them down and opening new ones; then yes, I could see where an underwriter for a home mortgage loan would consider that risky behavior and thus merit a higher interest rate to offset that risk as well as a credit scoring agency (Equifax, Experian, Trans Union) allocating a lower score due to inconsistent history of secure trade line ownership.

[Xaerve]

Yea, I pay the full payment automatically from my checking account. And these are my only credit cards.

[Xaerve]

http://www.fivecentnickel.com/2007/02/27/how-to-profit-from-0-balance-transfer-credit-card-offers/

[Ignot]

My client's love me now. I had moved most of their positions to a more conservative allocation about 5 months ago. This correction was way overdue. Bought back in the next day. Needless to say, I have been pretty busy since Tuesday.

Stock options FTW.

[Stretch]

Heh @ gaming credit cards...