Everyone called him an idiot.
He got richer every time.
Timothy Dexter.
Barely literate.
Dirt poor.
Marries a wealthy widow.
Buys worthless Continental currency.
New government honors it.
Rich overnight.
Town elites want him ruined.
Tell him: ship winter bed-warmers to the West Indies.
He ships 40,000.
They sell for a fortune.
Luckiest fool in Americaโฆ
or the smartest?
Still crazy to think that one of the smartest minds of history (Isaac Newton) lost all his money investing in a financial bubble
Goes to show that raw intellect has very little to do with being a good investor
@Real_Asset_Fund@Real_Asset_Fund
For example,
$NMM
hit a 52-week high of $95 yesterday, but I estimate its NAV at well over $150/share. That still leaves a substantial gap"
This is where I struggle most as an investor. I often look for "value traps" and fear buying things at 52-week highs.
@Real_Asset_Fund I was looking for someone more experienced with a similar investment philosophy. I look forward to learning more from people like you!
@Real_Asset_Fund I'm not looking to become a multi-millionaire... I just want to protect my wealth from inflation and make some modest gains along the way.
The very thought of investing in the $SPY at these levels makes me feel nauseous๐คฃ.
@Real_Asset_Fund No problem, @Real_Asset_Fund ! I'll tag you directly the next time I have a question. Perhaps you have your notifications set to mute?
In either case, thank you very much for the answer! I recently doubled my allocation and plan on adding more.
@DMVAdventures I'd buy $1000s worth of redbull and beef jerky and then just start reselling it. Even at half off, you'll eventually make back at least 5 k
@ImChrisHughes@erichhartmann Not going to happen. Rates go back to 7-8% and it quickly becomes impossible for major countries like the USA and Japan to service their massive debt loads.
8% is as high as we can go (that's being generous) before the system collapses