Outstanding Financial Pornography

Asset allocation, risk, diversification and rebalancing. Pros/cons of hiring a financial advisor. Seeking advice on your portfolio?
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kcowan
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Re: Outstanding Financial Pornography

Post by kcowan »

G&M Discovers that Women Inherit/Earn Money!
and are a lucrative target for financial advisers...
For the fun of it...Keith
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Re: Outstanding Financial Pornography

Post by BRIAN5000 »

This will maybe work for a very few people

http://earlyretirementextreme.com/wiki/ ... _is_ERE%3F

Early Retirement Extreme (ERE) is a movement of individuals integrating ideas from anti-consumerism, DIY, the Renaissance man ideal, home economics, individualism, environmentalism, and rentier capitalism toward the goal of achieving financial independence extremely rapidly. Putting ERE principles into practice yields a lifestyle that meets all needs while minimizing ongoing inputs of money, natural resources, friction, and effort.

By embracing simple living, self-sufficiency, and prudence, a worker with a typical wage income can comfortably achieve a savings rate of 50-80%. The mathematics of compound interest and safe withdrawal rates dictate that an individual with such a high savings rate can achieve financial independence after only 5-10 years.

At that point, they may choose to retire permanently from work, perform non-remunerative work, or pursue other goals.
This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed
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poedin
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Re: Outstanding Financial Pornography

Post by poedin »

BRIAN5000 wrote:This will maybe work for a very few people

http://earlyretirementextreme.com/wiki/ ... _is_ERE%3F

Early Retirement Extreme (ERE) is a movement of individuals integrating ideas from anti-consumerism, DIY, the Renaissance man ideal, home economics, individualism, environmentalism, and rentier capitalism toward the goal of achieving financial independence extremely rapidly. Putting ERE principles into practice yields a lifestyle that meets all needs while minimizing ongoing inputs of money, natural resources, friction, and effort.

By embracing simple living, self-sufficiency, and prudence, a worker with a typical wage income can comfortably achieve a savings rate of 50-80%. The mathematics of compound interest and safe withdrawal rates dictate that an individual with such a high savings rate can achieve financial independence after only 5-10 years.

At that point, they may choose to retire permanently from work, perform non-remunerative work, or pursue other goals.
Fascinating, not all of this can be dumped in as o/sFPorno - there's something to be said about simple living, some level of self-sufficiency & DIY-ing. After all check out all the threads of this forum and the range of topics :geek: : :ugeek:
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Re: Outstanding Financial Pornography

Post by LadyGeek »

It's not financial porn, but what I'd call an "alternate lifestyle" that follows a certain investing style.

Here's some porn: An Honest Stock Market Update (Credit to the Bogleheads forum for the find.)
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Re: Outstanding Financial Pornography

Post by deaddog »

LadyGeek wrote:It's not financial porn, but what I'd call an "alternate lifestyle" that follows a certain investing style.

Here's some porn: An Honest Stock Market Update (Credit to the Bogleheads forum for the find.)
I thought the article was a great read. Probably as accurate as any stock market wrap up. :D
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Re: Outstanding Financial Pornography

Post by Flaccidsteele »

"I'm planning to retire in my 30s."

This appears to be part porn and part frugal lifestyle. I admire the ambition.
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Re: Outstanding Financial Pornography

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Flaccidsteele wrote:"I'm planning to retire in my 30s."

This appears to be part porn and part frugal lifestyle. I admire the ambition.
I've actually read this guys blog.

I don't see aspects of financial pornography.

I too have similar ambitions and plans.
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NormR
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Re: Outstanding Financial Pornography

Post by NormR »

SkaSka wrote:
Flaccidsteele wrote:"I'm planning to retire in my 30s."

This appears to be part porn and part frugal lifestyle. I admire the ambition.
I've actually read this guys blog.

I don't see aspects of financial pornography.

I too have similar ambitions and plans.
The plans and frugality are fine by me. But retiring that early seems foolish to me, barring health concerns. It's better to find some line of work you like doing and do that instead. (I've enough stashed away to retire, but it strikes me as a rather dull thing to do.)
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Re: Outstanding Financial Pornography

Post by Flaccidsteele »

NormR wrote:The plans and frugality are fine by me. But retiring that early seems foolish to me, barring health concerns.
What, in your mind, makes it foolish?
NormR wrote:It's better to find some line of work you like doing and do that instead.
What about this option makes it "better"?
NormR wrote:(I've enough stashed away to retire, but it strikes me as a rather dull thing to do.)
If an individual considers retirement "dull" they're doing it wrong.

Speaking for myself, any line of work that needs to be compensated with $ can't be that 'likable'. Otherwise it wouldn't require compensation; individuals would gladly do it for free.

PS: I retired at 40 and now spend time with my family including raising my young child. There is absolutely no line of work that can even compare. To have to trade a line of work over spending time with family seems foolish to me. Considering that I only live once and all... Only speaking for myself.
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Re: Outstanding Financial Pornography

Post by Chuck »

NormR wrote: The plans and frugality are fine by me. But retiring that early seems foolish to me, barring health concerns. It's better to find some line of work you like doing and do that instead. (I've enough stashed away to retire, but it strikes me as a rather dull thing to do.)
After reading the article, I suspect he won't actually stay out of the work force for the rest of his life. He already mentions he has bounced in/out of the job market taking periodic sabbaticals along with his wife (who plans to continue the in/out approach).

To me it sounds like he is planning an extended sabbatical. I'd be surprised if during his non-travelling windows (where his wife will re-enter the job market) he doesn't do the same (probably, as Norm implies, for lack of anything better to do).

There's nothing financial porn about it, but I think it would be a good idea to be upfront about if it all doesn't work out, he'll just re-enter the workforce because both he and his wife have highly marketable skills. People following his lead should maybe insure they have similar skills (i.e. not a factory worker or something, who once they walk out, may never be able to get back in).
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Re: Outstanding Financial Pornography

Post by poedin »

Flaccidsteele: PS: I retired at 40 and now spend time with my family including raising my young child. There is absolutely no line of work that can even compare. To have to trade a line of work over spending time with family seems foolish to me. Considering that I only live once and all... Only speaking for myself.
In my case a year older and similar situation. Fourteen years later and no regrets - that and being a "Private Portfolio Manager"!
Truly amazing (and fortunate) being there through it all - then watching our child as valedictorian (and highest grades, subjects and sports awards) - like to think that being able to be actively involved as a parent and mentor, and watch her grow as a confident teenager, that we had something to do with it.
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Re: Outstanding Financial Pornography

Post by SkaSka »

I think the problem is the use of the word "retirement" which is being used in a rather different sense than the traditional definition of retirement.

Like the other posters above pointed out, I don't think he, nor others like him, would necessarily be out of the workforce permanently - what's ultimately desired is the freedom to choose on one's own unique terms when, where, and for how much one will work.

At least for me that's what I ultimately desire in the sense of "early retirement".
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Re: Outstanding Financial Pornography

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The TSX is down about 1.5% this morning. Here is what Brian Belski, chief investment strategist for BMO Capital Markets, has to say:
Brian Belski, chief investment strategist for BMO Capital Markets, said some of the downward pressure could be attributed to profit-taking, but mostly, the market was pulling back from recent highs.

"Investors in Canada over the near term have become complacent because the Canadian market has outperformed," he said.

"The issue when stocks go up is that you're believing it more, and now all of a sudden, Canadian stocks are receiving a dose of reality."
Is there any information at all in that statement?

Why waste time and effort saying that, and why waste space printing it?

(In fairness to Mr.Belski, this kind of pap seems pretty standard coming from Chief Investment Strategists. Do these strategists have a real job, or is it all smoke?)

George
The juice is worth the squeeze
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Re: Outstanding Financial Pornography

Post by cashinstinct »

In French:
http://www.lesaffaires.com/bourse/revue ... cee/572423

[
Voici l’état de la situation vers 12h05:

le S&P/TSX perd 194 points ou 1,3% à 14926

le S&P 500 recule de 25 points ou 1,25% à 1973

le Dow Jones échappe 1,25% ou 214 points à 16995

le Nasdaq fond de 1,6% ou 73 points à 4481.
perd = loses 1.3%... ok...

recule = backs 1.25%... ok so 0.05% less should be going back, instead of losing. I am following.

échappe = drops 1.25% ... so the same 1.25% is a drop instead of backing up. I am not sure I follow anymore.

fond = melt 1.6%... so when you go from 1.3% to 1.6%, you are now in the melt territory.


Sometimes, trying to find different words is hard :rofl:
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Re: Outstanding Financial Pornography

Post by LadyGeek »

Except for having fun with the formatting, Google translate seemed to do a good job: Google Translate

"fond" also means "bottom". In this case, the NASDAQ low was 1.6%, or 73 points to 4381.
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Re: Outstanding Financial Pornography

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Is This The Start of The Long-Awaited Correction or Something Even Worse?
U.S. stocks sold off sharply last week, continuing the rout that began in late-September. Since the market’s peak, the SP500 fell 5.6 percent, the Dow lost 4.7 percent, and the Nasdaq Composite dropped 7.3 percent. A panoply of concerning factors combined to send jitters through the global financial markets over the past month:
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Re: Outstanding Financial Pornography

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To summarize, the U.S. equity market has experienced a significant amount of technical damage in the past month, but a near-term bounce is possible now that many indices sit above key support levels. A solid break below these key support levels (whether immediate or after a temporary rebound), however, would increase the probability of a market correction. The recent bearish signals can be negated if the market rises back above the key technical levels that were broken during the latest sell-off.
Re-summarized: the market has recently gone down but may soon go up. However if it goes down then there is a chance that it will continue to go down (and a chance that it will not continue to go down). However if it goes up there is a chance that it will continue to go up (and chance that it not continue to go up).
As a short-term market agnostic, I am not making any predictions here
That part's certainly true.
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Re: Outstanding Financial Pornography

Post by Flaccidsteele »

ghariton wrote:The TSX is down about 1.5% this morning. Here is what Brian Belski, chief investment strategist for BMO Capital Markets, has to say:
Brian Belski, chief investment strategist for BMO Capital Markets, said some of the downward pressure could be attributed to profit-taking, but mostly, the market was pulling back from recent highs.

"Investors in Canada over the near term have become complacent because the Canadian market has outperformed," he said.

"The issue when stocks go up is that you're believing it more, and now all of a sudden, Canadian stocks are receiving a dose of reality."
Is there any information at all in that statement?

Why waste time and effort saying that, and why waste space printing it?

(In fairness to Mr.Belski, this kind of pap seems pretty standard coming from Chief Investment Strategists. Do these strategists have a real job, or is it all smoke?)

George
Seems like an awesome job. It's like being a strip mall fortune teller, but with better pay and benefits.
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Re: Outstanding Financial Pornography

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Flaccidsteele wrote:
Seems like an awesome job. It's like being a strip mall fortune teller, but with better pay and benefits.
I agree! People want someone to say something, anything really that sounds as though it's coming from a position of authority.

It's not just in finance or economics. We have pundits in all walks of life whose careers are built around prognosticating in their area of expertise. Entire networks have been built on this premise and we eat this sh*t up! It really makes one wonder why sex trade workers get such a bad rap; at least they are providing a useful service to society! :shock:
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Re: Outstanding Financial Pornography

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e.g. - funds (liquidity, smart money, etc.) flowing "into" (or draining out of!) the stock market

a big balloon filling up with air or water is how markets work!, according to this.

Even though it violates simple double-entry bookkeeping tautology, or frank expositions from Munger, Buffett and many other pros - or even analogous physical conservation laws... nevertheless, it will be expoused on TV, radio, newspaper and here shortly, always... by modern-day Galileo/hedge fund wannabes, talking heads, look!-squirrel! etc.

And will be believed!

Outstanding f.p.
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Re: Outstanding Financial Pornography

Post by scomac »

In tough job market, youth should consider working for free: Poloz

That latest pronouncement from BoC mandarin smacks of nothing more than a mouthpiece for corporate Canada's leaders' Christmas wish list!
Adult children stuck in their parents’ basements because they can’t find adequate employment should take unpaid work to bolster résumés as they wait for the recovery to take hold, Poloz said Monday in Toronto.
I feel sorry for the current generation of young Canadians who have been sold so many bill-of-goods by the education complex with respect to success that they are now being quite literally forced into a form of voluntary servitude. Oh, how far the pendulum has swung from the days of trade union dominance to the current situation! :evil:
"On what principle is it, that when we see nothing but improvement behind us, we are to expect nothing but deterioration before us?"
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Re: Outstanding Financial Pornography

Post by CROCKD »

+1 Thanks for posting. My sentiments also.
I had earlier earmarked this item and was going to post it in the thread
http://www.financialwisdomforum.org/for ... nd+shafted
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Re: Outstanding Financial Pornography

Post by Insomniac »

scomac wrote:Oh, how far the pendulum has swung from the days of trade union dominance to the current situation! :evil:
I don't understand what you mean. When I was young, you couldn't get a union job without a membership card and you couldn't get a membership card without a job. i.e. The shops were closed. Only option was post-secondary education.
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Re: Outstanding Financial Pornography

Post by scomac »

Quite simply that labour held the balance of power in those days. Now we appear to be in a situation where increasingly we have unpaid internships for entry level jobs in many corporate environments.
"On what principle is it, that when we see nothing but improvement behind us, we are to expect nothing but deterioration before us?"
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