fd14c8 No.974
If anyone is willing to share important lessons that have contributed to their experience it would be much appreciated. I ask because I have recently begun a major in finance thus, I am young and ignorant.
____________________________
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fd14c8 No.975
ignorance is a choice, and the world's a lot simpler than most people think. Why'd you choose finance? For money?
I believe it's appropriate to think of money as a cult; historically the accepted medium of exchange was a hard standard outside of human control, the best example of this being gold. But since a centralized organization has taken it upon themselves to be the sole regulators of our paper money and who gets what, it very much is a small group of exalted individuals who manipulate and dilute the money supply for the benefit of their own endeavors (they get to spend printed money first, before inflation takes effect), which comes at the expense of society as a whole. This is not a fair system we live in.
Just realize the world won't hand you anything, and it's a lot more biased than most people understand. If you can remain rational in this coldly biased world while still retaining your motivation to succeed, you'll do fine. If instead you rely on other people to make your decisions for you, you'll wind up taken advantage of and worse off in the end. This includes most financial advisors and government programs (people who put money into a 401k are going to find their portfolio worth less than they assumed/were told it'd be, in the long run.)
For fucks safe, just save your money! Buy silver.
Save money. Make WISE investments, and know where your money is. That's literally all it takes. You could be a cashier or the Fed chairman, if you don't build a nest egg the world will fuck you.
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fd14c8 No.977
I'm young and ignorant too, so take this with a grain of salt.
First and foremost, college is a scam. Compare the difference of what you spend on college to what you would have earned if you had worked that whole time. Make sure to account for college loans and the money you would have gained by investing what you earned. Put that together and you have your opportunity cost.
Secondly, learn to save. Don't get tricked into believing that you really need something that is just a luxury. Don't get a car unless you really need one. Get a roomate to split rent with. Preferably one that is your friend. You get company and you save money. Don't go out to eat too often. Lean to cook instead. Brew your own coffee. Saving is more important than earning because you don't get taxed for saving. If you were to earn 200% of your current wage, you may just be earning 150% since you're losing money to taxes.
Thirdly, learn to entrepreneur. I do programming for a job, mostly web dev, in a company. It often happens that the company signs a contract and it takes thousands of dollars for something that only is only a few hours of work. In fact, I think all the contracts they sign are massively overpriced. Tech earns a fortune and the average person has no idea how to quantify the effort it takes to program something. It's like a license to print money. But I only get paid a fixed wage. I would love to be able to do that without the middleman and just take all the money for myself, so I'm trying to freelance. My goal is to be able to earn enough to quit my job. The problem is that it helps to have connections and marketing to get these kinds of deals, and I don't have that. That's the only benefit of being in this company. So the point of all of this is to not get too attached to a company and to try to spot opportunity to make more money in a more comfortable way. If you can, start your own business. It doesn't have to be enterprise.
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fd14c8 No.978
>>977
Everything this guy said, especially about college. If you're not motivated enough to build a portfolio on your own, you've no business going to college.
Fun fact, the government is so eager to give out student loans not because it improves the prospects of its citizens, but because it gives them a HUGE asset to help improve its credibility. When you are the creditor of debt, that debt is marked as an asset in your balance sheet. Our government is effectively insolvent. Having a trillion+ dollars worth of interest-bearing, non revocable debt helps it retain its credibility.
People going into debt to their own GOVERNMENT are effectively becoming serfs, or indentured servants. We're living in awfully fucked up times, we have the technology to keep our asses alive but not the dignity to live in peace. Be aware of what you're getting yourself involved in; letting other people dictate your future for you means you'll be serving them, plain and simple. Be the dictator of your own existence.
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fd14c8 No.981
Your job is to always be looking a for a better job. Once you find a position don't settle down and look for another opportunity elsewhere that is better. You increase your chances this way rather than just taking one of the positions that are available while you're unemployed.
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fd14c8 No.985
Rule No. 1: Life is not fair. Get used to it. The average teen-ager uses the phrase "It's not fair" 8.6 times a day. You got it from your parents, who said it so often you decided they must be the most idealistic generation ever. When they started hearing it from their own kids, they realized Rule No. 1.
Rule No. 2: The real world won't care as much about your self-esteem as much as your school does. It'll expect you to accomplish something before you feel good about yourself. This may come as a shock. Usually, when inflated self-esteem meets reality, kids complain that it's not fair. (See Rule No. 1)
Rule No. 3: Sorry, you won't make $40,000 a year right out of high school. And you won't be a vice president or have a car phone either. You may even have to wear a uniform that doesn't have a Gap label.
Rule No. 4: If you think your teacher is tough, wait 'til you get a boss. He doesn't have tenure, so he tends to be a bit edgier. When you screw up, he's not going to ask you how you feel about it.
Rule No. 5: Flipping burgers is not beneath your dignity. Your grandparents had a different word for burger flipping. They called it opportunity. They weren't embarrassed making minimum wage either. They would have been embarrassed to sit around talking about Kurt Cobain all weekend.
Rule No. 6: It's not your parents' fault. If you screw up, you are responsible. This is the flip side of "It's my life," and "You're not the boss of me," and other eloquent proclamations of your generation. When you turn 18, it's on your dime. Don't whine about it, or you'll sound like a baby boomer.
Rule No. 7: Before you were born your parents weren't as boring as they are now. They got that way paying your bills, cleaning up your room and listening to you tell them how idealistic you are. And by the way, before you save the rain forest from the blood-sucking parasites of your parents' generation, try delousing the closet in your bedroom.
Rule No. 8: Your school may have done away with winners and losers. Life hasn't. In some schools, they'll give you as many times as you want to get the right answer. Failing grades have been abolished and class valedictorians scrapped, lest anyone's feelings be hurt. Effort is as important as results. This, of course, bears not the slightest resemblance to anything in real life. (See Rule No. 1, Rule No. 2 and Rule No. 4.)
Rule No. 9: Life is not divided into semesters, and you don't get summers off. Not even Easter break. They expect you to show up every day. For eight hours. And you don't get a new life every 10 weeks. It just goes on and on. While we're at it, very few jobs are interested in fostering your self-expression or helping you find yourself. Fewer still lead to self-realization. (See Rule No. 1 and Rule No. 2.)
Rule No. 10: Television is not real life. Your life is not a sitcom. Your problems will not all be solved in 30 minutes, minus time for commercials. In real life, people actually have to leave the coffee shop to go to jobs. Your friends will not be as perky or pliable as Jennifer Aniston.
Rule No. 11: Be nice to nerds. You may end up working for them. We all could.
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fd14c8 No.986
>>985
Is this pasta? It sounds like the propaganda I was subjected to in school.
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fd14c8 No.1018
>>986
>flipping burgers is not beneath your dignity
yeah we had it on a poster in our highschool maths class.
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fd14c8 No.1020
learn to control/work with your psychology. i'm just starting myself, and so far this has been my greatest roadblock. algorithms are stupid and people are emotional. try to find a balance between them. people here are slamming on college (for good reason), however having a college degree in a relevant field can still be a boon. i'm giving this daytrading shit a shot but having a degree/leaving my former employer on good terms with my coworkers leaves connections+experience on which to fall back
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fd14c8 No.1039
Don't go into business with friends/family
The saying is often brushed off with a "well THOSE OTHER PEOPLE JUST WEREN'T GOOD ENOUGH FRIENDS" excuse, but this is untrue.
Some people can succeed at going into business with friends and family, these people usually have business degrees or are well researched on management or have management experience, or have been doing business with family for generations
These exceptions exist, and you probably aren't one of them.
Your friendship will halt your ability to interact professionally and hold each other accountable in business, and you could end up in a position where you feel you are walking on eggshells to get even the most mundane task done.
If you come out of a business venture even still talking to a friend you went in with, you are probably lucky, chances are you will hate eachothers guts.
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fd14c8 No.1100
>>986
>you won't be a vice president or have a car phone either. You may even have to wear a uniform that doesn't have a Gap label.
stale pasta, circa 1992
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4f32cb No.1831
Bump /biz/ threads if you find the time that aren't a bunch of Gary's about bitcoins or stocks. Fuck me, this shit is the /fit/ equivalent to 'Why do you lift' threads and /ck/ pizza threads, a/k/-47 threads and Jellybean threads of /asmr/.
I doubt OP is still around… BUT business tips? You can't do it all alone.
>>985
This is Bill Gate's Rules for Life bullshit and it's bullshit.
If you're having trouble approaching the concept of making money from a money-making standpoint. Try figuring out how to get into a fit lifestyle, learning how to cook, building and working on a skill - how do people approach obtaining something they want that isn't money, or learning how to do something that isn't making money? Then apply accordingly.
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1effb6 No.1836
>>1831
>Bump /biz/ threads if you find the time that aren't a bunch of Gary's about bitcoins or stocks. Fuck me, this shit is the /fit/ equivalent to 'Why do you lift' threads and /ck/ pizza threads, a/k/-47 threads and Jellybean threads of /asmr/.
>I doubt OP is still around… BUT business tips? You can't do it all alone.
Some of these threads are a year old and the participants likely left when the board has died. I highly recommend you create new threads. Bumping in competition to another subject isn't natural growth of conversation regarding a topic (and it needs it).
If you're concerned about cryptocurrency and stocks dominating the board, they can be contained to their respective monolithic thread(s). Even then, currently the catalog doesn't even go past page 6.
Sage as I am not responding directly to thread topic.
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617130 No.1843
This thread has some good advice.
>Stay out of debt.
You will never make money if you always owe someone else money at interest. The only debt you should get is a house mortgage since the value can increase and you need a place to live.
>save your money
You will never accumulate money if you don't save it. If all you do when you get payed is spend it all on stupid stuff you'll go broke.
>make your money work for you
You can't make money work if you are always paying debt off or blowing it and spending it. Once you've saved money start making it work set up an IRA or some retirement and invest the rest into mutual funds.
>be prepared for the worst
The issue with gold and silver is it has very poor returns so you'll never get rich investing in it, in the event of a total collapse it will be worthless since the majority of people will want food and other supplies. Save money for the immediate future for emergencies and stuff. If you really think the whole thing will come down just buy guns and non perishables.
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649147 No.1849
>>1100
>>1831
>implying facts of life become redundant after a few years
those rules would work today and in ancient Greece.
Just replace 'car phone' with 'Porsche' or 'goat', 'television' with '8pol' or 'rumours spread by the Romaniotes'
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617130 No.1851
>>1849
Pretty much this. Go read a bible and all the money advice is the exact same you would find today.
For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it? Otherwise, when he has laid a foundation and is not able to finish, all who see it begin to mock him, saying, ‘This man began to build and was not able to finish.’”—Luke 14:28–30
“No servant can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.” The Pharisees, who were lovers of money, heard all these things, and they ridiculed him.—Luke 14:13–14
Owe nothing to anyone except to love one another (Romans 13:8).
The rich rules over the poor, and the borrower becomes the lender’s slave (Proverbs 22:7).
Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth (Ecclesiastes 11:2).
There is another problem I have seen everywhere – savings are put into risky investments that turn sour, and soon there is nothing left to pass on to one’s son. The man who speculates is soon back to where he began – with nothing. This, as I have said, is a serious problem, for all his hard work has been for nothing; he has been working for the wind. It is all swept away (Ecclesiastes 5:13-16, TLB)
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95b802 No.1861
if you're not disciplined enough to paper trade, you'll never be disciplined enough to trade markets.
paper trade until you make consistent profit, then go make real consistent profit. there's no excuse to not pick up paper trading as a side hobby.
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649147 No.1862
>>1861
> not posting your preferred free paper trading software
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95b802 No.1865
>>1862
tradingview.com, best charting software on the web and its free. they have a paper trading mode that works nicely. good luck.
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649147 No.1866
>>1865
thanks.
I had a quick dabble, as a mega noob, my 1st prob when trying to buy paper stock was repeated error messages saying " some stocks can't be traded with paper because " …. reasons
but will try more later.
Trading on the open market is a bit kikey for my likely really. That's why money often prefer to make private investments, more control, less exposure to market swings \ shorting etc.
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95b802 No.1874
>>1866
well I guess I technically still mentally paper trade, since I've got some stocks on radar and watch their prices daily. Learn some basic TA, find some stocks that pique your interest, figure out what prices you want them at to buy and add a ticker widget to your phone. Just watching prices bounce around really helps you acclimate to volatility. You do kind of have to be plugged into a market 24/7 to trade it right, but at most you only have to check prices twice a day.
charting helps. I posted some of my TA in other threads around here, look for em.
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1be5b6 No.1877
Read the Capitalist Exploits blog, starting with his post about what he calls the Beach Ratio. Use your finance classes to learn to think about large macro trends similar to what Chris talks about in his blog. Ex) If the U.S. raises interest rates, what happens to Saudi Arabian currency?
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94a87d No.1885
>>974
> I have recently begun a major in finance thus, I am young and ignorant.
Yes you are. Big money is in economics.
t. finance fag
Finance is all numeral calculations, infinite money if you know what you're doing (many lecturers can't even obtain this, it's very difficult to be wizard tier at the finance game). Economics gives you the full shebang - how to know what to buy, how to find markets, etc. It's more substantial, and can lead to starting new companies, etc. A true /biz/ path.
>>978
I've heard that governments have gotten good at doing this.
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afddee No.2121
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a21b47 No.2128
>>1039
There is nothing wrong with going into business with family. Its been done for generations. Its less about doing business with someone you know and more about not having a clear hierarchy between the two of you.
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5c2223 No.2176
>>2128
Exactly.
>>1039
{(In a perfect world)}
First build a solid foundation of trust, so then if issues do come up, y'all can talk it out and find a resolution together instead of acting solely on an emotional response and ape out. Once y'all trust each other, then comes loyalty. Now if y'all don't have ulterior motives or honey pots setting up against each other, what follows is respect. Also be blunt. Too many shit shows have happened when people dance around the topic when all that was needed was honesty. Essentially act upon logic & reason, don't get greedy, and everything will be alright.
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8c1384 No.2431
>>1851
>“No servant can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.” The Pharisees, who were lovers of money, heard all these things, and they ridiculed him.—Luke 14:13–14
Made up bs bible quotes.
Luke 14:13-14 really says "But when thou makest a feast, call the poor, the maimed, the lame, the blind: And thou shalt be blessed; for they cannot recompense thee: for thou shalt be recompensed at the resurrection of the just."
My advice would be to validate any advice, you may end up following bs if you don't.
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8c1384 No.2433
>>2431
Found the initial quote at Luke 16:13-14 not Luke 14 as cited.
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