Turbolag
TID's Official Donut Tester
- Oct 14, 2012
- 7,400
- 1,255
JR Ewing
MuscleHead
- Nov 9, 2012
- 1,329
- 420
Read books by or about Buffett, Icahn, Soros, Peter Lynch, Ray Dalio, Steve Cohen, David Einhorn, William O'Neill, et al.
I'd watch / listen to CNBC whenever you can during the week to get a feel for things. Fox Business and the Saturday morning Fox News lineup are also good to watch. Charles Payne and John "Bradshaw" Layfield are very sharp guys.
One thing you'll learn NOT to do is take anything and everything anyone and everyone says as gospel. You certainly don't want to "buy" or "short" every time anyone on tv says they own or will buy or sell (or short sell) this or that stock or sector or whatever. Most of what the talking heads are saying is just their opinions that are often not going to go as they say, at least in the short term. And most who run money are just average, which makes sense.
But on the rare occasions when you see people like Buffett, Icahn, Ray Dalio, David Einhorn, David Tepper, and a few others who have run money for long periods of time and averaged 20% or more, they are definitely worth listening to and even taking notes from if possible.
You can watch Cramer on "Mad Money" and perhaps pick up a good idea here and there out of the dozens of stocks he'll scream about as being "buys", "sells", or "holds" or whatever, but you definitely DON'T want to go into your account the next day and do everything he said to do. He puts himself in a very bad position by giving such definite answers to questions from complete strangers in 30 second coversations over the phone - without knowing anything about them, their goals, timeframes, risk tolerances, position sizes, overall portfolios, etc. Better to see him as an entertainer who has the occasional good idea, and also better to read his early books for good general info.
I can't stand Suzie Orman's voice, find her arrogant, often misleading - and also unattractive - and therefore don't watch her show.
I'd watch / listen to CNBC whenever you can during the week to get a feel for things. Fox Business and the Saturday morning Fox News lineup are also good to watch. Charles Payne and John "Bradshaw" Layfield are very sharp guys.
One thing you'll learn NOT to do is take anything and everything anyone and everyone says as gospel. You certainly don't want to "buy" or "short" every time anyone on tv says they own or will buy or sell (or short sell) this or that stock or sector or whatever. Most of what the talking heads are saying is just their opinions that are often not going to go as they say, at least in the short term. And most who run money are just average, which makes sense.
But on the rare occasions when you see people like Buffett, Icahn, Ray Dalio, David Einhorn, David Tepper, and a few others who have run money for long periods of time and averaged 20% or more, they are definitely worth listening to and even taking notes from if possible.
You can watch Cramer on "Mad Money" and perhaps pick up a good idea here and there out of the dozens of stocks he'll scream about as being "buys", "sells", or "holds" or whatever, but you definitely DON'T want to go into your account the next day and do everything he said to do. He puts himself in a very bad position by giving such definite answers to questions from complete strangers in 30 second coversations over the phone - without knowing anything about them, their goals, timeframes, risk tolerances, position sizes, overall portfolios, etc. Better to see him as an entertainer who has the occasional good idea, and also better to read his early books for good general info.
I can't stand Suzie Orman's voice, find her arrogant, often misleading - and also unattractive - and therefore don't watch her show.
Turbolag
TID's Official Donut Tester
- Oct 14, 2012
- 7,400
- 1,255
Thanks for the replies everyone.
JR I was reading in a book and it said what you mentioned about not making a change in stock the next day.
I was watching lunch money last night and browsing through then channels and then I saw Shark Tank was on. I had never watched it so I wanted to check it out. Really cool show.
Also, JR I was wondering if you wouldn't one me sending a PM to you in the future. I wanted to go talk to some brokers and wanted to get some feedback from you if you have time and wouldn't mind.
JR I was reading in a book and it said what you mentioned about not making a change in stock the next day.
I was watching lunch money last night and browsing through then channels and then I saw Shark Tank was on. I had never watched it so I wanted to check it out. Really cool show.
Also, JR I was wondering if you wouldn't one me sending a PM to you in the future. I wanted to go talk to some brokers and wanted to get some feedback from you if you have time and wouldn't mind.
Who is viewing this thread?
There are currently 0 members watching this topic