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Poker Video: Misc/Other by bosoxx34 (Micro/Small Stakes)

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Also that the average person doesn't want to buy individual stocks but rather stock index funds, as opposed to mutual funds that are managed because the fees are cheaper or non-existant and 99.9% of mutual fund managers don't outperform the market.

this is a very important point, thanks for putting it out there. this is based on the efficient market theorum, correct?

this is a very important point, thanks for putting it out there. this is based on the efficient market theorum, correct?

Correct... Other than Warren Buffett and George Soros and handful of others there aren't many people who have outperformed the market in their lifetime.

There are people who have really good years, but just like poker its mostly due to small sample size.

Bosoxx, what do you think of target date funds where you pick one close to your retirement date and the asset allocation is automatically shifted to lower-risk investments as you get closer to retirement date?

Bosoxx, what do you think of target date funds where you pick one close to your retirement date and the asset allocation is automatically shifted to lower-risk investments as you get closer to retirement date?

They are definitely a good idea if you don't want to play an active role in re-allocating them yourself every ten years, but make sure you know what funds are in the program and how they are performing, usually they are managed funds, you could just as easily allocate them yourself if you google asset allocation you could probably find some good strategies yourself.

The brokerage usually charges higher fees for this type of investment as well, even though it is all computerized anyway.

They are definitely a good idea if you don't want to play an active role in re-allocating them yourself every ten years, but make sure you know what funds are in the program and how they are performing, usually they are managed funds, you could just as easily allocate them yourself if you google asset allocation you could probably find some good strategies yourself.

The brokerage usually charges higher fees for this type of investment as well, even though it is all computerized anyway.

Agreed also keep in mind that with the longer life expectancy conventional wisdom has changed a bit. You're going to need your retirement money to last you 20+ years in many cases. As a result investing for growth is still relatively important, you don't want to go too conservative too early.

At first really inspiring and useful video. Thanks a lot!

I am from Poland and am twenty at the moment and thanks to poker and work I managed to put aside some money which I would like to at least start to invest because now it's not giving me any yield. I think that my first step is opening an account which allows me to buy and sell stocks. From your experience what would you recommend for the beginning, Bossox?

Thanks in advance for the reply.

That's the right idea however investing and making a profit in individual stocks is extremely difficult. This video was more geared toward retirement planning. As for beginners books take a look at chazb0ts links above. I also recommend The Wealthy Barber for a beginner's guide.

Let me know if you have anymore questions.

Also that the average person doesn't want to buy individual stocks but rather stock index funds, as opposed to mutual funds that are managed because the fees are cheaper or non-existant and 99.9% of mutual fund managers don't outperform the market.

Also wanted to emphasize this important point.

Thelynchmob1, I agree with chazb0t, the expense ratio on those target date funds probably don't make them worthwhile, if you can do it yourself every X amount of years you'll save yourself a lot of money.

Just pick the lowest-cost index fund and do some research on asset allocation, whatever you do avoid paying more expenses than you need unless you really can't count on yourself (or your advisor) to balance your investments.

For those that are interested in stock-picking you can always set aside some money to try it, but I'd treat it more as a hobby or game than my main route for investing. Run good!

For those that are interested in stock-picking you can always set aside some money to try it, but I'd treat it more as a hobby or game than my main route for investing. Run good!

This... I always recommended that my clients don't try investing in individual stocks unless they are maxing their 401ks, an IRA, have 6 months of expenses saved up, no credit card debt, and then they could go nuts if they wanted.

Of course not all of them listened, and I bet you can guess what happened when Dec 2008 hit.

what college did u go to?

what college did u go to?

I went to St. John Fisher

Shouldn't there be some explaining some similarities and differences between investing and playing poker as an investment? Because overall both are very similar and concern one thing: ROI. I am a 25 accountant who has a retirement account through my employer but I am also using my bankroll for poker for comparing my returns playing poker to my returns on individually investing in the market and also my employer IRA returns. Based on my bankroll of $5K for $1-2 NL, it is much easier to get a 20-30% ROI than investing that $$ in the market. Investing 5K in stocks requires great attention to the market and ideally I wouldn't recommend it if you haven't done copious research and devised a detailed plan for what/how/when you are going to purchase stocks.The main difference between your poker bankroll and investing "bankroll" is compounding interest. Gradually you will have to become exponentially profitable in poker to compare to a traditional stock investment, which is very unlikely. So what I suggest if you have a fairly minimal amount of money to invest $5-15K, talk to someone you trust who also invests and pick their brain about strategies, costs, reasonable ROI and the current condition of the market.