Reply to So, how does one stop being a "wage slave"?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]the above investment advice (which is continually posted here by someone who seems a bit nuts) is bad and should not be followed by most everyone.  you have maybe a 10% chance of actually outperforming the stock market by picking your own stocks. the vast majority of people should just buy a low-cost index fund that tracks the market generally.

this statement -- "it's not very difficult at all to pick winniners and losers in the market" -- is laughably wrong. it is very hard to pick "winners" and beat the market over a long period of time. the numbers don't lie. there are stats to back this up.

the only bit of good advice in there is to avoid paying people high fees (eg 1-2%) to manage your money/pick your investments. that is a waste for all of the reasons i stated above. [/quote]

I'm friends with the monster under my bed, I get along withthe voices in my head, and I'm beating the index funds. If you're interested in this type of investing, it's not rocket science. It's not that difficult to spot trends.  Today, mom and pop investors receive real time investing news just as fast as stock brokers. There was a time when brokers received information in real time and other investors had to wait until the newspapers were printed the following day. Today Bloomberg, CNBC, and FOX report breaking news as it happens. But, for the most part that is all moot anyway because unless you are very smart, have nerves of steel, and very deep pockets you want to avoid day trading anyway.

Besides investing in Vanguard 500 which has the lowest management fees another passive way to invest is to buy shares in Bershire Hathaway. You'll be buying what is essentially a mutual fund that has no managements fees run by the greatest investor of our time. [/quote]

i just hope most people aren't foolish enough to follow your advice. if you have a 10-20 year track record where, overall, you have beat the market then good for you. just know that you are in the 10% or so of people who can do that. most people should not pick stocks, period. [/quote]

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