60+ year old thread.

My very first experience with a company employee promoted as an "expert" was with a guy that drove a 10/12 year old Jaguar sedan. I should have known right away just from what he was driving. I mean, what kind of money man drives something depreciable that has such low ratings from Consumer Reports? But I liked the guy... so I listened to him for about a month, thinking I was being cautious, as he was offering a few stocks to buy. He was consistent over time, which I thought was a good thing.

One of the stocks he suggested was Sunbeam, which owned and sold Coleman products, and I was an ardent Coleman fan because I hiked a lot.

The day after I bought a ton of the stock there was an article in Baron's magazine saying that the CEO of Sunbeam was the worst CEO in the country... and the stock TANKED. I mean half of it's former value in a day... and the guy advised that I ride it out. "Buy and hold" was his mantra.

Thankfully I never took his advice again about buying... although I waited out Sunbeam until it was ten percent of what I'd purchased it for and then sold it. I don't believe it's listed anymore.

So what did I learn from my first professional advisor?

1. Never listen to a guy about finances that drives a POS.
2. Liking someone does not equate to them being worth listening to.
3. Listening to advice over an extended period of time does not make the advice better.
4. People that work for companies are paid to promote products in ways that benefit the company.
5. Popularity drives the market more than actual value.
6. All financial instruments are built on nothing but faith.
7. Buy and hold is the best advice average people will ever get... but that doesn't mean it's good advice.
8. Great products do not guarantee value.

The lesson that has given me the most value over time is #5. Anticipating movement and popularity leads to more consistent profits than any other strategy... and yet this is exactly what money management companies advise against. Go figure...

 

My Brother's BIL is a "financial advisor". Few years ago at Thanksgiving his girlfriend (at the table during dinner) tells me "You should talk with John. I'm sure he could help you." So...I turn to John and ask:

Me: "John, what's the current average corporate bond yield?"
John: <blank stare>
Me: (as I turn back to the girlfriend) " 5.4% Thank you Catherine...I'll stick with what I'm doing"

 

LOL... That's a great story. My own experience in a nutshell.

 

@Oldie2007


Too cold outside to do my truck today...but my wife loved your idea

 

I like it. Don't go through the car wash with them tho! Looks like you got bigger "power cord", so you can add more lights!
They stay on through the holidays, I might get some more for next year!

 

Good morning fellow Porchatonians!!

 

Good morning, Mark!!

I got up early this morning to see if I could see any of the Geminid meteor shower...it was clear, but the moon made it a bit difficult...however, I did see about 5 or 6 satellites pass overhead - most going from West to East and one going from South to North...only one very faint shooting star...maybe try again tonight before the moonrise.

 

Good morning all! Little brisk this morning on my ride to work, 26 degrees. Had to turn on my heated gear to about 1/3 power. Might be the last day I get to ride for a while, forecast has a wintry mix heading our way starting sometime Wednesday afternoon or evening.

 

Little work on the restore last night.

Handmade strut isolators.



Homemade body isolator’s



Unless you have done one, you have no idea how much time, patience, and money it takes to bring a
vehicle back to “original”. We are kinda looking at the end of 2023 or summer of 2024..

 

Just turned 64, and got my first Taco a little over 2-months ago. I love it! I still do “kid stuff” like riding dirt bikes too…just not nearly as fast as I used too!

 

Morning 60+
My back is slowly feeling a little better

 

Welcome to the thread.

Welcome to the thread.

Happy to hear the back is getting better. The healing is always longer than the time it takes to aggravate the old injury.

Good morning. Back to shoulder therapy today. Going to pull the snowblowers into the garage for seasonal PM to get ready for the snow.

 

Newbies fill the cooler, don't sit in Mike's recliner, and just like your Momma told you when you were a kid... it's not polite to talk politics or religion in civil company.

Other than that have at it. Tell us something we don't know.

 

Never to old. I'm pushing 75 and still young at heart. Body says different sometimes. Welcome to the porch.

Welcome to the porch Terry @davistld01 . Enjoy the posts and join in on any topic (except politics).

 

Welcome to the Porch, newbies!

Good Morning Porch Pals & Sue! Absolutely nothing on my list today. I hope I don't get myself in trouble.

 

Glad to hear your back is feeling a little better Bill. Take care of it and relax anytime you can. Try to have a good day

 

Morning all:

Another welcome to the porch, post away! Many interests and hobbies shared on here and a good group and pics. are always welcome.

Darn! Not just Covid, but now RSV and they are predicting a bad flu season, seems like there is always something out there to get us.

 

Thanks Ken

 

Good day, not hanging out on the porch today. Wet heavy snow coming. I'm not looking forward to it, how many here are snowbirds. I've just retired and it's days like this that make me want to seek out warmth. I think it might help with joint health..

 

Went out to the truck this morning to meet a friend and go duck hunting around Honker bay. Had to scrape ice off my windshield for 15 minutes. This is California (Northern California), what’s with ice in California. The day got worse. A short boat ride to where we wanted to hunt. Tied up the boat and walked through mud , heavy brush and tules to an open area in the tules we wanted to hunt. I am too old for this shit. On the way there I found a hole filled with muddy slimy salt water which I fell into. Filled my waders with ice cold water. My shotgun got submerged and covered in mud. I was cold wet and miserable. Emptied my waders out and found that polypro long underwear retain their insulation quality even when wet, that was good. Did I say I am too old for this shit. Managed 2 teal, 1 shoveler, 1 bufflehead. Friend did similar. My crazy lab was ecstatic since he got to make 8 cold water muddy retrieves.
My back pain is killing me after my fall. Dog is happy though, warm, dry, on his bed with his favorite treats. I’m having hot coffee with a wee dram of bourbon in it. I think the second Irish coffee is doing the trick. Things seem brighter, back pain is definitely better, life is good again but I’m still too damn old for this shit.