I lost 10k (basically all invested money) to bre-ex in my teens. Learned a very valuable lesson about investment "advisors". The knob told me to buy a mutual fund that turned out to be almost all bre-ex.
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Stocks
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I won't touch anything financially I don't fully understand and I’ve not really made any real effort to understand the stock market. Regardless of what you can read/study though it seems too much like a gamble for the everyday Joe unlike the guys that do this day in and day out on Wall St. The only thing I know about gambling is that eventually, the house always wins.
Green Meenie
Well-known member
If losing your 10k wasn't bad enough; here's a Bre-X fun fact for you: Kilborn Engineering was the consulting company Bre-X hired to estimate the gold reserves at their Busang mine in Indonesia. Of course, that turned out to be a huge fraud! Kilborn Engineering is a subsidiary of SNC Lavilin (Mtl). That's the same company your favourite PM tried to help out in their legal woes by attempting to subvert the Canadian justice system. You just can't seem to get away from him! ?
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taking down Duke & Duke 
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Meh, at the crash of Dotcom I (like many) took ~seven figure haircut. But all that money was on paper and money made in the Dotcom market, easy come easy go... Just like many now, I thought I had the world by the balls and when older people with experience gave me what I know now as sound market advice I figured I knew better.... If I took the advice my peak would have been much much ... lower but my exit would have been better. In the end my exit was still more than what I put in out of pocket. Now that we are older and hand out the same advice..... history repeats itself.
I have taken what I learned and have since done well. Learning isn't free...
Double down and let the winnings fly, when you are young might as well go for it but maybe listen to people that have been there before....
I have taken what I learned and have since done well. Learning isn't free...
Double down and let the winnings fly, when you are young might as well go for it but maybe listen to people that have been there before....
bigpoppa
Well-known member
bigpoppa
Well-known member
...maybe he should've read the memo: "thou shalt not go full retard outside of online persona" :')
I’m no expert, and have never tried PCP....but that **** probably didn’t help his cause.
Don't buy individual stocks. Buy total market ETFs like XGRO or VBAL. There is no knowledge required, you just buy as much of it as you can whenever you have money, and you get whatever the market returns. Trying to beat the market by trading stocks or timing the market is a loser's game, it has more to do with luck than skill.
edit: a small amount of "fun" money is ok to gamble on stocks, as long as it's limited to a very small percentage of your overall portfolio.
Even market ETF's are messed up now. TSLA ponzi scheme is now in some of the indexes. Yes, it's a small part for now, but holy crap. It's scary to think the index has no brains either and is just blindly following market cap. You are correct though, for the majority of investors, the majority of the time, throw your money at an index fund and you will do as well or better than individual security selection.
I’m happy with my VGRO and Tangerine market funds.
Did some of my own DD based on this and am in at $4.35. We’ll see what happens.....
I bought some too. Expected a correction that didn't happen and left some cash in the account since the pandemic started and mixed the huge run up. Need to get some of it working again.
I am just hoping it isn't another bre x so far I don't think so
Sent from my couch using my thumbs
I just sold a bunch of Shopify stock that I picked up for $685 - sold for $1,571. I’ll take those kinda gains any time, thank you!
I didnt do a huge buy. If I lose it, I lose it.
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