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How much do you know about financial independence?

Oct. 9, 2016, 9:45 p.m.
Posts: 2658
Joined: July 6, 2003

wow. may i ask what career/trade/profession you work in? them's some long hours.

Train mechanic.

Originally posted by Purecanadianhoney
I don't see how hard it would be to scrape out the head of your cock once in a while.

Oct. 9, 2016, 10:08 p.m.
Posts: 17771
Joined: Oct. 28, 2003

Cool job.

Oct. 9, 2016, 11:41 p.m.
Posts: 33143
Joined: Nov. 19, 2002

Train mechanic.

CP or CN?

How many days on do you do?

It is easy to dodge our responsibilities, but we cannot dodge the consequences of dodging our responsibilities.
- Josiah Stamp

Every time I see an adult on a bicycle, I no longer despair for the future of the human race.
- H.G. Wells

Oct. 10, 2016, 7:50 a.m.
Posts: 2658
Joined: July 6, 2003

CP or CN?

How many days on do you do?

Skytrain.

Originally posted by Purecanadianhoney
I don't see how hard it would be to scrape out the head of your cock once in a while.

Oct. 10, 2016, 7:52 a.m.
Posts: 2658
Joined: July 6, 2003

Cool job.

Enjoyed the work as an avionics mechanic more in my previous life. Enjoy the pay and job security now more.

Originally posted by Purecanadianhoney
I don't see how hard it would be to scrape out the head of your cock once in a while.

Oct. 10, 2016, 9:08 a.m.
Posts: 33143
Joined: Nov. 19, 2002

Skytrain.

Now we know who to blame when it breaks down… ;)

It is easy to dodge our responsibilities, but we cannot dodge the consequences of dodging our responsibilities.
- Josiah Stamp

Every time I see an adult on a bicycle, I no longer despair for the future of the human race.
- H.G. Wells

Oct. 10, 2016, 1:13 p.m.
Posts: 2658
Joined: July 6, 2003

Now we know who to blame when it breaks down… ;)

Technically Canada Line….. Only two train fires!:|

Originally posted by Purecanadianhoney
I don't see how hard it would be to scrape out the head of your cock once in a while.

Oct. 24, 2016, 1:51 p.m.
Posts: 17771
Joined: Oct. 28, 2003

A case study of what NOT to do to achieve FI. Reconsider your individual stock holdings, especially the ones you expect to make you rich.

http://www.joshuakennon.com/gt-advanced-technologies-bankruptcy/

Oct. 24, 2016, 2:07 p.m.
Posts: 17771
Joined: Oct. 28, 2003

Or, you could time your stock picking on the expectation that a volcano will blow.

http://forum.thecontrarianinvestor.com/index.php?threads/exploding-volcano-short-sell-opportunity.392/

Please! Do NOT follow this as advice. Purely for entertainment purposes. Do not sign up or read that forum, except for reinforcing what not to do with your money. Wow.

Oct. 26, 2016, 9:54 a.m.
Posts: 955
Joined: Oct. 23, 2006

A case study of what NOT to do to achieve FI. Reconsider your individual stock holdings, especially the ones you expect to make you rich.

http://www.joshuakennon.com/gt-advanced-technologies-bankruptcy/

Thanks for posting this. I was sick yesterday and spent literally hours reading that thread with fascination. It made me feel a bit sick in a lot of cases, and was sure glad I wasn't caught up in it. I cannot imagine building up $1M, only to lose it all, plus another $100K+ in the hole to margin. And that guy who was investing his mother's money and hiding the fact that he was holding so much of the stock after she told him to sell… I can't imagine the fallout there. He wanted to look like a genius, but made to look an utter fool and worse.

I got really wrapped up into the story and as much as I would like to think I wouldn't be so stupid, I could see how one could be led there if you were involved in that thread from the beginning (indeed, many people with the smarts to build up $1M+ did exactly that). It's nice to get the full feeling of some hard hitting lessons without actually having to be in the situation of getting beat the hell up. Usually I get this backwards.

Thanks again for posting.

Oct. 26, 2016, 10:03 a.m.
Posts: 549
Joined: Sept. 2, 2010

^ Same - it was like watching a train wreck. At one time that guy (Wisconsincheese) claimed he and his family had something like 1.2m shares (at peak would have been worth like $21m-22m?).

Almost makes you wonder if he was one of those stock fluffer folks.

Oct. 26, 2016, 10:11 a.m.
Posts: 955
Joined: Oct. 23, 2006

^ Same - it was like watching a train wreck. At one time that guy (Wisconsincheese) claimed he and his family had something like 1.2m shares (at peak would have been worth like $21m-22m?).

Almost makes you wonder if he was one of those stock fluffer folks.

Yes, I wondered that too, since he didn't seem to come back after bankruptcy was declared. Although, if he was legit it would be pretty painful to come back to the forum. If he was as all in as he suggested, it wouldn't be unbelievable for him to top himself.

Oct. 26, 2016, 11:36 a.m.
Posts: 1506
Joined: July 11, 2014

Ugh, painful to read and think of those poor souls busting out hard like that. The blog author had an interesting conclusion that I agree with: the current state of self directed retirement results in a lot of tears for folks that don't have the financial literacy and discipline to handle it rationally. I'm probably too risk averse, to the point I can't imagine going all in on a single stock especially one of speculative nature. I think I'd have an ulcer going all in even on a Canadian bank common stock.

The problem is compounded when they go to what they think is an entity that will help them (their bank) who proceed to rip them off on shitty high MER mutual funds or GIC's which lose out to inflation.

Oct. 26, 2016, 1:03 p.m.
Posts: 272
Joined: May 11, 2005

Don't invest more than 5% of your total portfolio in one individual stock. Higher % is ok for index ETF's.

Oct. 26, 2016, 2:10 p.m.
Posts: 1172
Joined: Feb. 24, 2017

some of the comments, advice and anecdotes on here are funny. the depth of understanding of how to effectively invest (as if there is any rule of thumb that applies to all) is astoundingly poor. do this, don't do that, bank mutual funds are bad, this is good, that is not. incredible.

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