How much do you know about financial independence?

CP or CN?

How many days on do you do?

Skytrain.

Cool job.

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

Skytrain.

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

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

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

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/

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.

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.

^ 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.

^ 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.

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.

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

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.

So, who's got a hot stock tip for us?

So, who's got a hot stock tip for us?

TSLA will pop at least 5% tomorrow.