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9/19/2017 7:27:10 PM
Posted: 6/12/2002 9:31:06 PM EDT
Any ideas of how to turn $3000 into more than three thousand? Other than investing it and talking 30 years,I am looking for a somewhat quick or even a year or so to turn 3k into double that or even 3/4 more. I know we have some genius minds on this board,can any of you help me?
Link Posted: 6/12/2002 9:35:51 PM EDT
Link Posted: 6/12/2002 9:38:04 PM EDT
Options trading. Watch the market really closely, then leap in when you feel certain you're going to make a fortune. Buy a cardboard box with whatever remains.
Link Posted: 6/12/2002 9:38:34 PM EDT
Originally Posted By Paul: The easy way to make money is in real estate
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Would you mind elaborating?
Link Posted: 6/12/2002 9:46:26 PM EDT
I think roulette pays 32 to 1 if you just guess the right #.
Link Posted: 6/12/2002 10:34:12 PM EDT
buy a barret .50, once they're banned you can sell it for a lot more..hell, you can shoot it and it will still increase in value over time!
Link Posted: 6/12/2002 10:40:59 PM EDT
Link Posted: 6/12/2002 10:41:42 PM EDT
Three ideas. 1. Pot 2. crack 3. Cocaine Please be responsible and pack a pistol. Sgtar15
Link Posted: 6/12/2002 11:10:20 PM EDT
Well I have never been to a casino therfore I doubt I would be any good at betting,and as far as Sgtar15 I dont think I want to spend what ever profit I did make off of your ideas on bail so that is out of the question too Anymore ideas? I really dont want to waste the money,there has to be a way to make money from money this is america,right(At least for now)?
Link Posted: 6/12/2002 11:26:30 PM EDT
[Last Edit: 6/12/2002 11:28:05 PM EDT by Gunbert]
Originally Posted By M4_Aiming_at_U: Well I have never been to a casino therfore I doubt I would be any good at betting,and as far as Sgtar15 I dont think I want to spend what ever profit I did make off of your ideas on bail so that is out of the question too Anymore ideas? I really dont want to waste the money,there has to be a way to make money from money this is america,right(At least for now)?
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C'mon bubba, think about it! If it were that easy to double your money in a short amount of time we'd all be bazillionaires! That being said... the stock market has really depreciated in the last few months (you know that, right?)... so go to [url]www.morningstar.com[/url] and find their 5 best stock picks and buy them equally and hang on to them for the next year. You'll do ok. edited to add link
Link Posted: 6/12/2002 11:27:25 PM EDT
Try Starbucks (ticker symbol=SBUX) They are scheduled to open 2800 more stores in the next 5 years. They are also predicted to gain 25% annually for the next five years. If you have no faith in the stock market then try REIT's. ( Real Estate Investment Trusts) they must by law return 95% of their profit back to their shareholders in order to retain their tax-exempt status. I have made much money in both bull and bear markets. Also consider Ginnie-Mea's. Consult a compentent broker (Edward Jones or Prudential)
Link Posted: 6/12/2002 11:29:35 PM EDT
Gunsnob, what do you think of Fidelity as a broker?
Link Posted: 6/12/2002 11:35:17 PM EDT
Originally Posted By Gunbert: Gunsnob, what do you think of Fidelity as a broker?
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No opinion, I understand they manage some very respectable mutual funds though.
Link Posted: 6/12/2002 11:40:26 PM EDT
Originally Posted By GUNSNOB:
Originally Posted By Gunbert: Gunsnob, what do you think of Fidelity as a broker?
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No opinion, I understand they manage some very respectable mutual funds though.
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Yeah... their Magellan fund has been a great performer in the past (though that's not the fund I'm in). I have them for my 401k, I've been looking for a broker to invest some personal money with and keeping them would simplify things a bit. Still looking around though.
Link Posted: 6/12/2002 11:57:03 PM EDT
Originally Posted By Gunbert:
Originally Posted By GUNSNOB:
Originally Posted By Gunbert: Gunsnob, what do you think of Fidelity as a broker?
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No opinion, I understand they manage some very respectable mutual funds though.
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Yeah... their Magellan fund has been a great performer in the past (though that's not the fund I'm in). I have them for my 401k, I've been looking for a broker to invest some personal money with and keeping them would simplify things a bit. Still looking around though.
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Look for individual stocks that pay quarterly dividends and have survived both bull and bear markets (Wal-Mart, Home Depot, Phillip Morris-tobacco use is on the rise abroad, in tech EMC(storage), Cisco Systems. In my opinion, long term investment in these companies will be financially rewarding. Also entertain some bond funds and mutual funds that can offset a market downturn. Do not review your monthly statements, a watched pot never boils. Had you investested $1,650.00 in Wal-Mart stock in 1970, with all splits accounted for, you would own 208,400 shares @ approx. $54.00 a share. You do the math. No tech here. $11,253,600.00. I'd love the dividends on that.
Link Posted: 6/12/2002 11:58:34 PM EDT
Originally Posted By Wolfpack: This is an easy question, give me the $3000, I'll go to the local strip club and "invest" in $20 lap dances, by then end of the night I will have doub.....DAMN, wait...oh well forget it.
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hey man, that's 150 lap dances, so you're gonna have to let me come along and [i]help[/i] you "invest" the money. heh, it'll be fun....... what else is money for [;)] [devil]
Link Posted: 6/13/2002 EDT
Gunsnob, do you know of any sites or books that could give me a crash course in investing?
Link Posted: 6/13/2002 12:04:54 AM EDT
Originally Posted By M4_Aiming_at_U: Gunsnob, do you know of any sites or books that could give me a crash course in investing?
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Call an Edward Jones broker in your area (ther're everywhere) These guys will give you sound advice. ( their supervisors in St. Louis, Mo will fuck them if they don't) Just tell them you want to invest your money and what your risk tolerance is and they will guide you from there.
Link Posted: 6/13/2002 10:01:23 AM EDT
Stocks are still pretty overvalued. Find some way overpriced ones, wait for a few days of positive markets, and then buy puts. Bail once they've made you a bit -- don't get greedy. Repeat until doubled. The market isn't going anywhere for the rest of the summer, IMHO, so I'm just playing the swings and biding my time. It's worked so far; I only have two that have gone badly for me all year, and one of those was because I was vying for the Idiot of the Year prize. I know, this is gambling, and it's not the right way to play a market. But it's worked a hell of a lot better than the buy-and-hold strategy that everyone was telling me was essential back in 1999/2000.
Link Posted: 6/13/2002 10:05:19 AM EDT
Link Posted: 6/13/2002 10:53:58 AM EDT
I have a friend in the logging business. About 40 acres next to a parcel of his land went up for sale. He knew how much prime cherry was on the land. By the time he reached the seller, a little old city lady, the land had already sold for ~$30,000. The new owner extensively logged the property and pulled nearly $70,000 in timber from it. My friend didn't have a dry eye for weeks. Timing is everything (plus having the capital needed for investment). The old saw, "it takes money to make money" is very true.
Link Posted: 6/13/2002 11:00:30 AM EDT
You might want to investigate investing in a startup business as a silent partner. Risks are high but the returns are high. Lot of good ideas out there looking for venture capitol. Start with the SBA then maybe your bank, small business clubs etc…
Link Posted: 6/13/2002 11:11:44 AM EDT
Originally Posted By M4_Aiming_at_U: Gunsnob, do you know of any sites or books that could give me a crash course in investing?
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M4, don't take this the wrong way, but you are on a crash course to losing your cash. Get-rich-quick schemes usually make the guy selling them rich, not you. That being said, the more you are willing to risk LOSING your 3k, the more you can potentially make. Some ideas: - superpower ball. huge payoff, still unlikely - casino gambling. good payoff, more likely - high risk stocks. good payoff, but there's a reason they are "high risk" - aggresive stocks, mutuals. reasonable payoff, still some risk, especially short term. - index funds, reasonable payoff, long term investment strategy best - day trading/futures/etc. See casino gambling above. Unless you know your shit, just give it up to the stripper in lap dances. At least you'll be happy. Still broke, but happy. - bonds, low risk stocks, stable mutuals: lower returns, but you won't be eating dog chow in your old age, either. Brother, I hope the words don't fall on deaf ears, but I suspect they will. I hope I'm wrong, but I think your 3k is going to go bu-bye, if your not careful.
Link Posted: 6/13/2002 11:30:21 AM EDT
So you want to make $3000 profit in one year or less. As you've read, the safest ways involve vigorously educating yourself. And as was already mentioned, if it was easy, I'd already be doing it. Last Oct. I turned $200 into $1850. How did I do it? Craps (gambling). If for some bizarre reason you were to attempt gambling as a quick means of doubling your money, the lowest risk STILL involves educating yourself (i.e. which games to play, the correct wagers to make, money management, etc.).
Link Posted: 6/13/2002 11:35:54 AM EDT
That being said... the stock market has really depreciated in the last few months (you know that, right?)... so go to www.morningstar.com and find their 5 best stock picks and buy them equally and hang on to them for the next year. You'll do ok.
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With $3K he can only buy 100 shares of a $30 stock so he probably can't afford to invest in all five. If he just buys one he will be subject to relatively high risk because all of his money will be riding one pony. i.e., not diversified. The best thing that he can do is invest the money in a mutual fund. Look for a relatively conservative fund & remember that past performance is no guarantee of future results. IMHO, the risk of investing in junk greatly outweighs any possible return. Good luck.
Link Posted: 6/13/2002 12:02:45 PM EDT
Here are some books recommended by Quicken/Intuit: Against The Gods: The Remarkable Story of Risk by Peter Bernstein (John Wiley & Sons; 400 pages). Why do we bet money on the stock market, a game of roulette, and other risky undertakings? Bernstein writes about the history of man's efforts to understand risk and probability, from ancient gamblers in Greece to the modern chaos theory. The Bond Bible by Marilyn Cohen (Prentice Hall Press; 238 pages). This Bible takes the mystery out of bonds and explains them in simple terms -- especially why you need them. What makes the book a great read is Cohen's anecdotes about her own experiences in the bond world. The Coffeehouse Investor: How to Build Wealth, Ignore Wall Street and Get On With Your Life by Bill Schultheis (Longstreet Press; 175 pages). The title essentially says it all. By focusing more on your personal passions and less on Wall Street hype, the book explains, you'll actually build more wealth and improve your quality of life simultaneously. The Financial Numbers Game: Detecting Creative Accounting Practices by Charles Mulford and Eugene Comiskey (John Wiley & Sons; 407 pages). With many companies under SEC investigation, this step-by-step guide to scrutinizing corporate financial statements is especially timely. Good to Great: Why Some Companies Make the Leap and Others Don't by Jim Collins (HarperCollins; 320 pages). As a follow-up to bestseller Built to Last, the author wrote about 11 companies that made substantial improvements over time - but the reasons why may not be what you think. The Intelligent Asset Allocator: How to Build Your Portfolio to Maximize Returns and Minimize Risk by William Bernstein (McGraw-Hill; 206 pages). A neurologist who used his self-taught knowledge and research to create a popular investing website, Bernstein explains how to build a diversified portfolio without the help of financial pros. Investing in Real Estate by Andrew McLean and Gary Eldred (John Wiley & Sons; 336 pages). As many investors now switch their money from the stock market to the housing market, real estate is the hottest investment around. The authors give tips on how (and where) to buy, spot bargains, negotiate deals, lower property taxes, and more. The Man Who Beats The S&P: Investing with Bill Miller by Janet Lowe (John Wiley & Sons; 262 pages). An in-depth look at the value-oriented strategies and philosophies of mutual fund manager Bill Miller, who has beaten the S&P 500 index eleven years in a row. A Random Walk Down Wall Street by Burton Malkiel (W.W. Norton; 464 pages). Now in its seventh edition, this 29 year-old classic states that blindfolded monkeys and Wall Street pros are equally matched in stockpicking, and explains safer alternatives for investors' money. Rich Kid, Smart Kid: Giving Your Children A Financial Headstart by Robert Kyosaki (Warner Books; 264 pages). With a recent survey showing many schoolchildren ill-equipped to balance checkbooks and manage money, this book helps offers simple yet effective strategies for you to educate your kids and help them avoid financial traps.
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