Official Investment thread

Do you have a selling point for MGM? I just feel like if I keep it and not even look at it until 2015... i might make a small fortune.

 

My advice to you is don't get into investing unless you have a clearer goal of what you intend to get out of investing. Namely, "How much is enough?" and a defined goal like retirement. "Flipping" money is exciting for a while but will rapidly become a burden when you get burned (which EVERYBODY does) at some point. Don't invest anything you aren't willing to lose or you eventually won't be able to sleep at night.

Investing is actually fun if you have a clear goal. I applaud you for your interest. You have made a quantum leap in your management of personal finance which is to make your money work for you rather than you working for your money. That is SO critical to remove yourself from the trap that money creates and improve the quality of your life. The majority of people (especially in our American "consumer" culture) NEVER attain that level of freedom primarily because of their lack of understanding of what money truly is.

Using Schwab's online brokering services worked best for me when I was getting into it years ago. They had the best combination of market tools, fees, and the ability to consult professionals on staff to tailor their level of assistance. I only rarely used them because of my basic nature of distrust, but it was a comfort to have them available. Schwab is consistently rated at or near the top of on-line services by 3rd party reviewers but other companies like E-trade, TD Ameritrade, Scott etc are probably just as good. Spend some time and check them out.

And like Alex and others have suggested- get a long term plan. The ultimate goal in investing should not be to increase your cash and your ability to spend, but rather, attain FREEDOM from daily wage earning. We are all going to die someday. The REALLY successful people have freed themselves from the burden of having to trade their TIME at a daily job simply to get money for daily living expenses. EARLY RETIREMENT is my personal goal. Once I achieve a capital base that will allow me to sustain the personal lifestyle I have chosen, then I will truly be "free". Of course, I (and you), can be free anytime if we lower the cost of our personal lifestyle choices. That is why I recommend you get a clear goal BEFORE getting into investing.

Congratulations and good luck. You are on your way to a better way of living!

 

No I don't. I guess it's worth a hard look if it gets between 15-16 as that is as high as it's really closed since 2008 crash.

What I really liked was your comments about it's readiness for online poker community. I got tired of dealing with the overseas sites, if it were legalized for American business I'd drop $500 today in a poker account. I can't be the only one.

 

Related to online poker, I've heard that basically there will be two main online poker sites in America...

WSOPpoker.com (or some variation of that) This is Caesars Entertainment... I don't think they went though with their IPO... so I dont think they are publicly traded.

HOWEVER, 888, which is a British company... supposedly is the software creator for their room. From what I've been told, it's already ready to go... They just have to flip the switch when congress approves this and they will be playing poker for money on this site.

PartyPoker.com, owned by BWin, (Or they may use their World Poker Tour name variation for the room) will be the other site.

The best thing about playing legal online regulated poker in the US... is that... deposits will be instant... and you might be able to get you winning instantaneously shipped to a prepaid visa.

Few years ago, I went on a hot streak and won $20,000 in a week playing online poker on bodog. You know how long it took me to see $20,000? 3 months.

Let me tell you, when you have $20,000 dangling out in front of you for 3 months and you can't get your money, you are NOT happy about it.

The best part about the LV casinos owning the online poker rooms is that you will probably be able to earn comps online.. then use them for free stuff in vegas.

For example, you get 1,000,000 frequent player points and you can use that to directly buyin to a big live tourament in vegas... or use it to comp your rooms/flights/cars... etc etc

I think these casinos can make online poker more competitive and enjoyable for everyone. The worst thing about online poker (cash games in particular) is that all the really good players have stats on every one.. so they go fishing... they will wait for the fish to come to them and as soon as the fish leaves... they leave. Online poker used to be very easy back in 04 05 06 but since then... people have wised up...and look for every single little advantage they can get.

I have played on America's Cardroom and Bovada... but I just don't feel safe in regards to putting my money on there. I put $50 on each a few months ago then cashed out, just to see if the cash out would work. It did, it was shady, it took some time, the fees were outrageous, and I'm terrified of winning alot of money on there then not be able to access it like customers of FullTiltPoker. I'm with you on not using sites like this.

I don't consider myself a pro... but there is alot that the online poker sites need to do to stay competitive. http://www.philgalfond.com/lets-make-some-changes/

Read this article if you need to know what online poker needs to do when it makes its comeback.