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Goals of this blog

October 9, 2011

I am ambitious. I acknowledge this first and foremost so that we’re on the same page. Some of my ideas may seem farfetched, poorly researched, or just straight up wrong, and that is why I encourage you to not believe me. Instead, question me. Through this process we will both be better off, financially and intellectually.

Here are the goals of this blog:

  • Pick stocks to earn an average of 3% per day
  • Relay market information
  • Help both your dreams and mine become true
  • Random other interesting posts from time to time. Hope you find them as interesting as I do.
Earning 3% daily, you could turn $1,000 into $1,000,000 in just 234 trading days — that’s less than one calendar year. Think about that! Just 3 measly percent per day! Starting with $2,000 or $5,000 cuts the amount of time to hit a million bucks exponentially. But if it were only so easy, everyone would do it…I don’t expect to be a millionaire. I expect to put out my best effort, and hopefully that’s enough to outperform the market through thick and thin. That’s all I can do, nothing more. As humans — and particularly in the stock market — we can’t control the outcome. All we can control is our reaction to the outcome and, more importantly, the amount of work we put in.
I like to think of financial markets as exchanges in the crudest sense of the word. Stock exchanges are like medieval town markets. At their core, the two are the same. Both have buyers and sellers. Both have venues of exchange. Both have transaction costs (broker fees versus costs of transporting sheep to the market). Both have hagglers. Both have rules. Both have enforcers of said rules; we have the SEC, FINRA, and all the rest, while King Arthur’s market had conscripted goons to enforce the rules of the market and prevent stealing. And both have taxes that must be paid.
With my stock picks, I will use the following format:
  1. Justify the stock pick
  2. Fall out of my argument — why might my justification be wrong?  Why is my counter-party taking my action’s opposite (either buying or selling)
  3. Point out why the counter-party is wrong
I want this to be as interactive as possible, so if you disagree with me, say something!
Also, as a final note, do not follow any of my picks without doing your own research first. I am not an expert. I don’t work on Wall Street. I trade as a hobby and because the value of learning is infinitely more important to me than letting someone else handle my money. I’m fine losing money as long as I learn in the process.
On that note, skål!
Ambition, the double-edged sword
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