NEED HELP!! URGENT!!
au58
Posts: 1,288 ✭✭✭
I need FREE, but highly competent and PROFESSIONAL investment advice. And I need it FAST, so I am asking the forum.
A few months ago, I plowed everything into the HOT, HOT, HOT stock market. I mean everything. The kid’s EE Bonds, my wife’s jewelry, IRAs, etc. I even cashed out my life insurance. Remember when everything was UP, UP, UP??? Didn’t you do the same thing?
The next thing I now, the Dow is off 1400 points. What the hell happened??
But with yesterday’s market surge, on top of a couple of other good days, I’m only down about 8%.
I thought I would be up about 25% by now, but I realize now that I screwed up.
And, I can’t stand the wild stock market swings. Maybe I should have listened to the experts here.
But I have seen the error in my ways and now I have a better idea.
I am going to place a sell order TODAY and put it all into coins.
I will have a mid-six figure sum to invest. The question is - What do I buy?
I CANNOT AFFORD TO LOSE ANY MORE MONEY (but I don’t have to make a killing either). If I can double my money in 12 to 18 months, I will be satisfied (BUT LET ME REPEAT - I CANNOT AFFORD TO LOSE ANY MORE MONEY!!).
What should I buy? Morgans? Type? Moderns? Ancients? Key dates?
I know that diversification is important. Should I consider gold and silver bullion or silver bags? What about currency, is the currency market as hot as the coin market?
Please give me your thoughts by COB today.
Thank you.
A few months ago, I plowed everything into the HOT, HOT, HOT stock market. I mean everything. The kid’s EE Bonds, my wife’s jewelry, IRAs, etc. I even cashed out my life insurance. Remember when everything was UP, UP, UP??? Didn’t you do the same thing?
The next thing I now, the Dow is off 1400 points. What the hell happened??
But with yesterday’s market surge, on top of a couple of other good days, I’m only down about 8%.
I thought I would be up about 25% by now, but I realize now that I screwed up.
And, I can’t stand the wild stock market swings. Maybe I should have listened to the experts here.
But I have seen the error in my ways and now I have a better idea.
I am going to place a sell order TODAY and put it all into coins.
I will have a mid-six figure sum to invest. The question is - What do I buy?
I CANNOT AFFORD TO LOSE ANY MORE MONEY (but I don’t have to make a killing either). If I can double my money in 12 to 18 months, I will be satisfied (BUT LET ME REPEAT - I CANNOT AFFORD TO LOSE ANY MORE MONEY!!).
What should I buy? Morgans? Type? Moderns? Ancients? Key dates?
I know that diversification is important. Should I consider gold and silver bullion or silver bags? What about currency, is the currency market as hot as the coin market?
Please give me your thoughts by COB today.
Thank you.
0
Comments
VMW, RIMM, DBTK, ARTIX, FLATX, ADUDX
You can't be serious, don't buy coins (if you are serious).
I would get a good financial adviser who sees the light regarding investing in commodities, precious metals, agriculture and foreign currencies
(just my opinion).
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
You are already a winner.
You are joking.
A few months ago, I plowed everything into the HOT, HOT, HOT stock market. I mean everything. The kid’s EE Bonds, my wife’s jewelry, IRAs, etc. I even cashed out my life insurance.
That's when you needed the competent advice.
And, I can’t stand the wild stock market swings. Maybe I should have listened to the experts here.
Then you should not be in the stock market.
I am going to place a sell order TODAY and put it all into coins.
Buy high, sell low, and then buy high again. Interesting strategy, but whatever the investment, not great for your financial health.
My advice (no more wisecracks, I promise) and what I do:
Stay in the market over the long haul, and do not come here for investment advice. Read a book about investing in the stock market before you make another move. Swedroe's The Only Guide to a Winning Investment Strategy You'll Ever Need is one I just completed (I have probably read 20-30 such books over the last ten years) and is a great place to start.
Good luck and honestly, do not come to a coin forum for investment advice. Folks here are a little bit too coin-centric, IMO.
RYK
<< <i>A few months ago, I plowed everything into the HOT, HOT, HOT stock market. I mean everything. The kid’s EE Bonds, my wife’s jewelry, IRAs, etc. I even cashed out my life insurance. Remember when everything was UP, UP, UP??? Didn’t you do the same thing? >>
No.
You cannot possibly write the above with a straight face.
If the above is serious (I hope not),
1. Put all your money into CD's or other secured assets.
2. Step away from the money and breathe.
3. Then, spend some time creating a financial plan that makes SENSE before converting any of the money in the CD's (or whatever).
Joe.
<< <i>NEED HELP!! URGENT!! >>
<< <i>I will have a mid-six figure sum to invest. The question is - What do I buy? >>
You need help..?!?!!?.....Donate some of your $ Bucks to Charity.That might help a bit....!!!!....
1/2 Cents
U.S. Revenue Stamps
Tiger trout, Deerfield River, c. 2001.
Will somebody please throw me a bone?
<< <i>I don't understand. Everyone else who comes here asking for advice gets 15 or 20 suggestions that JUST CAN'T MISS.
Will somebody please throw me a bone? >>
I know this guy who's mother use to baby-sit this kid who's mother knew Teddy Roosevelt's housekeeper, claims he can get you a screaming deal on some 1933 Double Eagles...
Payment is to be in Unmarked Gold Bars left in train station locker #888 in Fargo South Dakota...
Sounds a little Risky but should double your money...
Currently Listed: Nothing
Take Care, Dave
<< <i>There is probably no worse investment than coins. Stick to mutual funds, I don't want my tax dollars supporting you when you are old, retired and broke!
VMW, RIMM, DBTK, ARTIX, FLATX, ADUDX >>
Why not? Your tax dollars are already supporting him. He is a disabled veteran.
Given your facts, again, I would stay away from trying to make a quick hit in coins.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
I think this is a no lose investment for the next 12-18 months with the fed printing money and lowering interest rates. Plus no buy/sell spread.
http://ProofCollection.Net
I am with the others who voted to stay in the market a little longer and at least break even....then pull the money and get a sound financial advisor who can better protect your investment. Good Luck
<< <i>Put the money in the Gold and Silver ETF's... (GLD) and (SLV) for a solid positive return in the next 12-18 months.
I think this is a no lose investment for the next 12-18 months with the fed printing money and lowering interest rates. Plus no buy/sell spread. >>
Did the FED just start "printing money"? I thought that they had been doing that since 1913. Thanks for the new hot info!
<< <i>If I can double my money in 12 to 18 months, I will be satisfied >>
At least you have a realistic goal!
Puro's Coins and Jewelry
Rutland, VT
(802)773-3883
Link to my website www.vtcoins.com
Link to my eBay auctions
Buy, sell and trade all coins, US paper money, jewelry, diamonds and anything made of gold, silver or platinum.
With cash in hand you will get a better deal on the bridge!</SPAN></SPAN></DIV>
``https://ebay.us/m/KxolR5
``https://ebay.us/m/KxolR5
I certainly wouldn't pull out of the stock market while you are on the losing end either, I personally wouldn't pull any money out that wasn't at break-even or better... but I would diversify when you're able to.
In my area, if I had the money, I would put *some* of my money into the flailing real estate market, there are properties selling at 50-70% of the CURRENT market value (it's like buying after the stock market has crashed, it will go back up) and the benefit is in rental income while you wait it out. But in the future, never tie-up all your money in one place.
<<No.>>
Panic sellers always lose in the end...If you really want to liquidate, don't do it when everyone else is, you will surely sell the low!!!
Good luck and hope things turn around for you.
Regards,
Len
"La Vostra Nonna Ha Faccia Del Fungo"
OM stands for Old Mutual.
REmember LONG TERM INVESTING NOT SHORT TERM!!!
<< <i>I need FREE, but highly competent and PROFESSIONAL investment advice. And I need it FAST, so I am asking the forum. >>
You get what you pay for. Pretty soon you'll need advice on whose advice to follow. I get free "can't miss stocks" advice on our fax machine all the time. My guess is that if I wanted to look up their value a little bit down the road, I'd be adding an "E" to their ticker symbol.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
<< <i>By "un-diversifying" your investments in the first place, you really put your back against the wall. (ie. "don't put all your eggs in one basket")
I certainly wouldn't pull out of the stock market while you are on the losing end either, I personally wouldn't pull any money out that wasn't at break-even or better... but I would diversify when you're able to.
In my area, if I had the money, I would put *some* of my money into the flailing real estate market, there are properties selling at 50-70% of the CURRENT market value (it's like buying after the stock market has crashed, it will go back up) and the benefit is in rental income while you wait it out. But in the future, never tie-up all your money in one place. >>
Does anything really ever sell for 70% below market value? Lets say a property has a "market value" of 100k, and by using your optimistic figure of 70% below, sells for 30k. Was its market value really 100k then if the MARKET only brought 30k on the property? My point is that "market value" is an imaginary idea. Sort of like (but not as bad as) jewelry appraisals. The term market value should apply to a completed sale, and not some estimate of what someone ASSUMES its value is.
Look if you are serious, you are not going to double your money in 12-18 months without taking some serious risk. It is possible to do it coins, stocks a business or "Tickle Me Elmo" toys. But for every one of the success stories you hear about these investments, there are many more that did not pan out. Even safe investments such as real estate are not doing well right now (predictions are that they won't turn around for another 12-18 months either).
But the biggest risk that you took (if this is true, which I don't believe it is) is selling your wife's jewelry. That would land me in more trouble than I could handle!
I also would never expect any safe investment to return 100% in 6 to 12 months - that is just gambling, not investing!
For any disciplined investor with a strong conviction, market volatility is your friend - you zig when the markets zag - as mentioned - buy low, sell high, even if it's a few hundred bucks a day. But you need to KNOW what you are buying, and there are plenty of investment tools on the web, useful for back-testing stock portfolios or theories, tracking individual stock movements, analysts predictions, insider trading history, % of institutional ownership, etc.,etc. Do your homework, stay the course...and use a bit of logic - after 2 days of three digit gains in the Dow, take some money off the table - and after 2 or 3 days of three digit losses in the Dow, snap up some bargains. Repeat process - as long as the volatility is high, there is $$ to be made.
Just like in coin collecting - buy some books, or be willing to pay somebody who already has the knowledge to do the heavy lifting for you.
You're not REALLY serious, are you....
every treasure on Earth
to be young at heart?
And as rich as you are,
it's much better by far,
to be young at heart!
Get real!
Just laughing at those of you who can't grasp when someone is pulling your leg!
<< <i>
Just laughing at those of you who can't grasp when someone is pulling your leg! >>
While that may be the case, there are enough people who come here to discuss investing in coins that many of the points contained herein are worth making given the opportunity.
The Mysterious Egyptian Magic Coin
Coins in Movies
Coins on Television
<< <i>
<< <i>By "un-diversifying" your investments in the first place, you really put your back against the wall. (ie. "don't put all your eggs in one basket")
I certainly wouldn't pull out of the stock market while you are on the losing end either, I personally wouldn't pull any money out that wasn't at break-even or better... but I would diversify when you're able to.
In my area, if I had the money, I would put *some* of my money into the flailing real estate market, there are properties selling at 50-70% of the CURRENT market value (it's like buying after the stock market has crashed, it will go back up) and the benefit is in rental income while you wait it out. But in the future, never tie-up all your money in one place. >>
Does anything really ever sell for 70% below market value? Lets say a property has a "market value" of 100k, and by using your optimistic figure of 70% below, sells for 30k. Was its market value really 100k then if the MARKET only brought 30k on the property? My point is that "market value" is an imaginary idea. Sort of like (but not as bad as) jewelry appraisals. The term market value should apply to a completed sale, and not some estimate of what someone ASSUMES its value is. >>
Actually, I was stating 50-70% OF market value (not below)... and this refers to properties that investors dumped their money in for 'quick flips' (and are now panicking - like the OP) or pre-foreclosures that individuals want to get out from under because they over-extended themselves. The term "market value" in this scenario is what a bank is willing to lend on the value of the property.
Market value on a particular 3/2/1 residential property 18 months ago may have been $290k.... today it's at $206k... the seller wants to dump it at $139k. A bank will finance up to $206k (100% of the current market value appraisal) - making the sales price 67.5% of the current market value.
This is a "buyer's market" and a good long-term investment (very low-risk of property value falling substantially below sales price, and greater likelihood of it increasing to previous levels over time) & due to the fact that rental income ($1200-$1600/mo.) can give short-term returns.... NOT for "quick flipping"!