Investing Market – 10 Better Things To Do With Your Money

Ever been up at 3AM and seen some trade signal guaranteeing 100% returns per day or have a friend (cabby, pilot, accountant, burger king guy) tell you a hot tip or about a hedge fund that’s going to make him millions?  Then there is the thousands of books written on investing, trading, and other forms of market manipulation.  This is what I call the investing market.  Often new investors are much more interested in the investing market than the stock market or bond market or futures market or options market.  It’s sad really. 

I’m not saying that all investing products are bad things, just how is anyone able to evaluate claims of these packages or services without knowing anything about the true investing market – where you actually buy and sell.  Everyone should know the basics before they buy into a niche program.  Here’s 10 things you should probably do before spending your money in the investing market.

  1. Invest For Yourself- Up the amounts your contributing to your IRA or 401k.  Especially if you’re not receiving the full match from your employer.  Most investment strategies don’t beat the tax savings you’ll receive, especially when you begin to factor risk/reward ratios.
  2. Invest in Yourself - If there is a class or degree that would significantly increase your salary in a job that you would enjoy doing more or moves you in the life direction you want to do, go do it!  Trust me you are smart enough and you have the time.  In fact I’m going today to go check out an MBA program.  Not that I want to work a 9 to 5 forever, but I can still increase my salary to a much greater percent then my investment income per amount of effort.  Sometimes that’s just the truth of it.
  3. Read classic investment / stock trading books -  Some of my personal favorites are Reminiscences of a Stock Operator and Security Analysis.  Avoid investing market books like “how to make a bazillion dollars in 30 days with no risk because I did it while in a coma with one eye and so can you!!”
  4. Pay Down Debt – If you have credit cards with 24% interest then you’ve just found yourself a guaranteed 24% return for awhile.  Ha! Beat that investing market.  I’m writing a 1 page site now that just says pay your high interest debt and marketing it at 3AM, I’ll be rich Bwaahahaha!
  5. Take a couple days off – Use the money to pay your bills since you didn’t work and use the time to read investment blogs and sites.  You’ll learn some basics and hear the good and bad about thousands of investment marketing items.
  6. Go for a long shot – Do you have that high risk, high leverage, insane return idea floating in your head.  Go for it – it’s better than most of those investment products out there and you’ll learn a lot about yourself, your risk tolerance, and how your ideas match your strategy.  Plus it may hit and you can send me a large sum of money as a thank you for encouraging you.
  7. Buy a new outfit- That’s right, go shopping, and then in your new spiffy clothes go out and meet some people outside of your friends circle.  A good professional group of contacts can do amazing things.  My group of long time friends are amazing for all sorts of personal issues, but when I want to bounce an idea off them involving LEAP pricing most of them just glaze over.  But a group of investors or accountants, or entrepreneurs may be thrilled.  It’s good to know people.
  8. Donate – Sometimes after reading, writing, dreaming, and thinking about money for the 48 hours straight it’s good to remember we are human.  Donate to your favorite charity or church instead of placing another book or CD on your shelf you weren’t going to read anyways.  The dividends on an donation go way beyond monetary value.
  9. Get a faster computer / Internet connection – When it comes to investing or trading information is king and if you only have 1 hour per day to learn or practice your strategy you don’t want to spend that time waiting for websites to load, or have your computer freeze in the middle of that perfect trade.  No investing market product will help you if you’re disconnected from the market.
  10. Take your significant other on a vacation- An unhealthy relationship will destroy your financial life faster than any bad investment.  The emotional strain will distract you and legal and impulse buying cost can get ridiculous also.  So remember to take time with those who are important to you, keep first things first, then crush the stock market.

Remember, every time you choose to buy something you could be buying something else.  Caveat emptor.


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9 Responses to “Investing Market – 10 Better Things To Do With Your Money”

  1. Great info!.I will quote from it in my thesis about hedge fund operators. I also learned a lot about hedge fund trading strategies from 2 other great books. Hedge Fund Trading Secrets Robert Dorfman..and Confessions of a Street Addict of course by Jim Cramer..written before he got really famous..both are riveting and very informative. You should check them out if you like reading behind the scenes stuff about hedge fund and what methods they use..….. my winning ratio is now better than ever.

  2. Hi Milt,

    I’ll take a look at those books (I’ve thumbed through Cramer’s before), thanks for checking out the blog.


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