Most interesting customer

[imported_turbomangt]

Last week I had a guy come in with a Mercedes wagon, which you don`t see to many of, 320 model. He was an average looking guy in his mid 50`s. When he picked up his car, I asked him what type of work he did. He said he had been on the options exchange in Chicago and recently sold his seat for 1.3mil, and retired. He told me he bought the seat 27 years ago for $23,000. I said that options is risky business right?, well he said it can be but if you do your research it can be extremely rewarding, I asked what some of his best trades/memories he has. Well, he said I had about 8 grand slams while down there. I asked what a grand slam was. he goes on, the guys in the "pit" get offers to buy stuff that the public never can. 3 years ago their was 50,000 shares of Google stock floating, which he had the option to buy at $5 a share, so he did, cost him $250,000, Google is now trading at $300 a share. You do the math, this was one of his 8 grand slams, I talked to this guy for hours, he was so interesttng to listen to. he spends his time now going to charties to give away his money as a silent donor. This was my most interesting customer I ever had in my shop, (and the richest) Gary

[imported_steveo3002]

did he tip?

[imported_turbomangt]

Yes he did......but his his best tip was a trade that I plan on doing today, I won`t name the stock, but I`m buying 1000 shares and the company`s earnings are expected to be up 15%,when they come out, and the stock should go up with that news, we will see, Gary

[Charisma]

I bet that 320 wagon was the car he bought for his groundskeeper.

[Scottwax]

:cool: That is a great perk of this business, meeting all sorts of interesting people.

[Changeling]

Last week I had a guy come in with a Mercedes wagon, which you don`t see to many of, 320 model. He was an average looking guy in his mid 50`s. When he picked up his car, I asked him what type of work he did. He said he had been on the options exchange in Chicago and recently sold his seat for 1.3mil, and retired. He told me he bought the seat 27 years ago for $23,000. I said that options is risky business right?, well he said it can be but if you do your research it can be extremely rewarding, I asked what some of his best trades/memories he has. Well, he said I had about 8 grand slams while down there. I asked what a grand slam was. he goes on, the guys in the "pit" get offers to buy stuff that the public never can. 3 years ago their was 50,000 shares of Google stock floating, which he had the option to buy at $5 a share, so he did, cost him $250,000, Google is now trading at $300 a share. You do the math, this was one of his 8 grand slams, I talked to this guy for hours, he was so interesttng to listen to. he spends his time now going to charties to give away his money as a silent donor. This was my most interesting customer I ever had in my shop, (and the richest) Gary



Dude, I buy and sell stocks!!



You are being conned and suckered in! If there are any "Open" ways to make a buck in the stock market they are closed/slammed immediately, in a matter of seconds!

If you want to buy stocks, keep an eye on the things that are going on around you, self explanatory, if you don`t understand what I just said, listen!!



For the off the street dude your best bet is to invest in a well controlled mutual fund that doesn`t follow an index and carries a low amount of companies. This makes them nimble and able to maneuver quickly (Hopefully)!



Do your homework and you will do fine, trust in the crap you are hearing and you will loose your donkey!

Changeling

[imported_mirrorfinishman]

A guy walks into a bar, sits down and orders a drink. The bartender serves him his drink and proceeds to tell the guy about a tip that he got on a stock. The stock that is supposed to skyrocket in price during the next couple of months. Well, hearing this news the guy calls his stock broker and puts in a buy order.



The following week he goes back to the bar and talks with the bartender. Of course, he proceeds to tell the bartender about how well the stock has done so far. He also tells the bartender that since the stock has been steadily going up in price, he has decided to buy more. And that he intends to buy even more stock in the same company as long as the price continues to rise.



About two months later the guy stops in the bar, sits down and begins to talk with the bartender. Once again the topic turns towards the stock. The guy says to the bartender, that since the stock has gone up about five times in value, he thinks it is time to sell. The bartender turns to the guy and says; who do you think you are going to sell it to? After all, you own all of the shares!



True story.

[Setec Astronomy]

I guess I must not be a shrewd investor, because I don`t understand the point of that "true story". Does that mean you can become the owner of a company by buying all the shares? Does that mean that you can buy enough shares of a company to drive up the share price and screw yourself? Would you really be screwing yourself if you bought a large portion of a company that was doing well? Is a company that is not doing well likely to do better if an investor comes in and buys a lot of stock and gives it a cash infusion? Will you not have enough money to go to bars anymore if you spend it all on stocks?

[kompressornsc]

Yes he did......but his his best tip was a trade that I plan on doing today, I won`t name the stock, but I`m buying 1000 shares and the company`s earnings are expected to be up 15%,when they come out, and the stock should go up with that news, we will see, Gary

The problem is that if he knows that the earnings are going to be up 15%, so do others, and it`s already factored into the price. In fact, it`s probably over-factored in. Buy the rumor, sell the news. I`d be more apt to take that one short-that`s how I made most of my money.

I use to do a lot of trading, and it`s tough. The little guy will get screwed every time, no matter how much you think you know. The insiders are so far ahead of you it`s not funny.



And I don`t even like funds. Buy the market. Most fund managers can`t even beat the averages-why pay them to do worse than a monkey can throwing darts at a list of stocks? Not to offend any fund managers on here, but for the most part, they`re idiots.

[Spilchy]

In fact, it`s probably over-factored in. Buy the rumor, sell the news.



Tell me about it. As a long term investor I see some of my stocks cream the street`s expectations and "tank" on the good news!



I don`t see why Gary`s story couldn`t be true (see my "however" below). My brother`s friend sits on the NY Commodities Exchange buying and selling. His seat was about $250,000.00. His father was Chairman of the Exchange for many years and is swimming in oodles of money.



My parent`s best friends (the husband) is chief partners in a firm that deals with corporate bankruptcy and restructuring on massive scale. Many times they take the company public again and buy in at peanuts before the offering and wind up owning 51% of the companies. As a result, he`s worth hundreds of millions of dollars. It`s hard to articulate the wealth he has amassed.



So, I think Gary`s story is completely plausible. It`s just that many people don`t come across wealth on that scale on a regular basis.



HOWEVER... Someone of that caliber does not go around rattling off tips like that. It just doesn`t occur given SEC regulations. Folks privy to inside information DO NOT dish it out...period. Plus, if you`re buying a 1000 shares of a stock with an alleged 15% earning growth (that supposedly nobody knows about) then I assume you`re looking into a penny stock? I bet the stock has already run up on the expected news and you`ll be in on the high side. Heck Gary, tell us too!



Watch, this dude is some boiler room stock broker :lol

[Setec Astronomy]

I don`t see why Gary`s story couldn`t be true



Just for the record, before I get in trouble, when I mentioned "true story" I was referring to Mirrorfinishman`s post, which he ended with "true story" and I still don`t understand....

[imported_turbomangt]

I appreciate all your of your concern, but for the record I`m a well seasoned invester. Before I opened my detail business I worked for a privately helded company for 23 years, I worked through 8 stock splits and when they went public 5 years ago, I hit the jackpot. My money manager is the Vice Presidnet of AG Edwards amd I had a long meeting with him the other day, He agreed that the info I recieved was solid, I guess I should not of posted what I do personally, especially with stocks. This guy I meet had no desire to take money from me, he doesn`t even want to get involved with others peoples money, since you seldom if ever get a chance to meet someone like this, I cound`t stop talking to him. gary

[Grimm]

I guess I must not be a shrewd investor, because I don`t understand the point of that "true story". Does that mean you can become the owner of a company by buying all the shares? Does that mean that you can buy enough shares of a company to drive up the share price and screw yourself? Would you really be screwing yourself if you bought a large portion of a company that was doing well? Is a company that is not doing well likely to do better if an investor comes in and buys a lot of stock and gives it a cash infusion? Will you not have enough money to go to bars anymore if you spend it all on stocks?



I think the point of the story is not to blindly follow someone`s advice. Too many people do this. They hear a tip like the OP had and follow it like a sheep. In the story, the buyer has driven up the price by an inflated amount because he was buying all the shares. Once he tries to sell, they will surely drop back down. I think the tip is a great thing, you just need to do your own homework. Sure, that company could have their earnings report up 15%, but guess what, they were expected to increase 100%! So because they didn`t go up like expected, the stock plummets.

[Junebug]

Ya`ll, with a wife and two kids - working a regular 40 and detailing on the side every weekend, I still don`t have a friggin dime to invest. All I have is my 401K at work. Good luck to all you future Warren Buffet`s out there, I`m still trying to keep my head above water.