Boiler Room: The Official Stock Market Discussion

[Domingo Halliburton]

Oh yeah I should also mention I went all in on the game on autodesk. They released their earnings and I think I'm going to lose like 10% tomorrow. I got to stop doing this. I could be in first I just keep risking it all on companies I know nothing about when their earnings come out hoping for a big swing. Whatever its fake money.

 

[Domingo Halliburton]

I dont care about apps really either... So i could see myself getting one too.

I don't really care about the apps either. I clicked on their app store and it seemed like you could find what you wanted like any other phone. As for the quality and amount of apps im sure its limited.

 

[Hiphoplives4eva]

I actually really liked it. I was kind of thrown off when I switched from iPhone to a galaxy. But there was absolutely no learning curve with windows 8. I seriously might look into getting one.

Trust me its an amazing experience. I have been using them since last year and truly love it. Once people start experiencing this phone more and more it's sales will take off like gangbusters. If you want a cheap phone to get an idea of how Windows phone is, consider purchasing the Nokia Lumia 520. ITs only $130 at Walmart and runs Windows phone 8 extremely well. Once you use a Windows phone you'll wonder why you didn't switch sooner.

 

[tru_m.a.c]

hey @Domingo Halliburton @Hiphoplives4eva can you help me understand about Roth IRA and Traditional IRA

So right now I'm contributing to my 401K. If I understand correctly, If I open up a Roth IRA, I'm only allowed to split a maximum of 5000 (the 2013 IRS amount allowed) in both accounts?

2nd question. Once I meet the limit, what options do I have to create interest on the extra money I want to save without getting killed by inflation?

 

[Domingo Halliburton]

hey @Domingo Halliburton @Hiphoplives4eva can you help me understand about Roth IRA and Traditional IRA

So right now I'm contributing to my 401K. If I understand correctly, If I open up a Roth IRA, I'm only allowed to split a maximum of 5000 (the 2013 IRS amount allowed) in both accounts?

2nd question. Once I meet the limit, what options do I have to create interest on the extra money I want to save without getting killed by inflation?

Hey breh, I work as an analyst for RBC capital markets. I know with IRAs one is tax deferred and the other is not. I'm not sure which is which. There is multiple routes you can go. You need to talk to a financial advisor and not an analyst. Anyways, 401ks will charge more expenses than some index funds, look up vanguard. Seriously look at vanguard index funds and compare the expenses to your 401k expenses.

And remember you are on a sports forum. If you're taking financial advice from here...take it with a grain of salt. Seriously I'm not an advisor.

 

[Hiphoplives4eva]

hey @Domingo Halliburton @Hiphoplives4eva can you help me understand about Roth IRA and Traditional IRA

So right now I'm contributing to my 401K. If I understand correctly, If I open up a Roth IRA, I'm only allowed to split a maximum of 5000 (the 2013 IRS amount allowed) in both accounts?

2nd question. Once I meet the limit, what options do I have to create interest on the extra money I want to save without getting killed by inflation?

Yea, this is beyond my scope of knowledge breh. I have a financial advisor that takes care of my 401k. Don't have an IRA unfortunately so I really don't know that much about them. It sounds like you need a financial advisor as well breh.

 

[Domingo Halliburton]

Yea, this is beyond my scope of knowledge breh. I have a financial advisor that takes care of my 401k. Don't have an IRA unfortunately so I really don't know that much about them. It sounds like you need a financial advisor as well breh.

At first I thought you were taking too much risk, but you're right. I like your theses for how you think these stocks should play out. The stocks you like are highly dependent on Microsoft, but I don't how much you can bet against MSFT.

 

[Spin]

hey @Domingo Halliburton @Hiphoplives4eva can you help me understand about Roth IRA and Traditional IRA

So right now I'm contributing to my 401K. If I understand correctly, If I open up a Roth IRA, I'm only allowed to split a maximum of 5000 (the 2013 IRS amount allowed) in both accounts?

2nd question. Once I meet the limit, what options do I have to create interest on the extra money I want to save without getting killed by inflation?

401K is different than IRA. You can contribute what you want to the 401k. Usually your employer will match you up to a certain %. Roth IRA is after tax money that you use for retirement. I think the limit has been raised to 5500 this year. The good thing about the Roth IRA is that when you get ready to cash out, you don't pay taxes on the gains. Do both if you have the funds.

 

[Piff Perkins]

What's a good amount of cash for an entry purchase of stock? I'm thinking of jumping in brehs

 

[Ohene]

Where has this been all my life

 

[Ohene]

What's a good amount of cash for an entry purchase of stock? I'm thinking of jumping in brehs

i try to put in no less than 500 as I did when I bought LYV for 12.42 each back in March.

On average I put in about 700...if I have a bunch of money and see a great trading/investing opportunity...i'll go in between 1000-1200.

Finally began back in March after I paid off my tuition and such. Every paycheck i've pretty much bought a new company that has been on my watch list. I'm trying to use proceeds to help for when I pay for my final year of school come september (years if I transfer) and use all of this to promote myself when it comes to IB and I-Mgmt interviews next school year.

KKD (My worst holding...got in too late at 14.70 ....praying for a good realase tomorrow)
LYV (Live Nation) Got in at 12.42, shoulda got in at around 12 but I didnt have money on me at the time
EVR (Evercore Partners) Got in at 37.40...should have been 36.5 but I was using a friends account and he was in class so I had to wait til after wknd
AYA.V (Amaya Gaming) Got in at 5.23
RSOL (Real Goods Solar) This one is a trading project. Likely going to be very short term and I'm just riding the wave for this one.

Watchlist:

Tesla motors...I was supposed to get in at 55. Long fukking story though I'm still pissed about this one.
Barrick Gold
Qualcomm
Mondelez
Activision Blizzard
Take Two Interactive
Put options (2015) on Facebook

 

[Lakers Offseason]

What's a good amount of cash for an entry purchase of stock? I'm thinking of jumping in brehs

It depends. The more money you put in, the greater the reward or greater the loss. I would start with $500 and see what kind of return you can get with it. This way you minimize your loss at only $500 at most and you get to learn the ropes.

Now is the time to invest though, the market is on steroids.

 

[Piff Perkins]

I set up an investopedia account, reading up on everything now. I'm going to play around with it, buy some shares and see how things go - while reading some of the sites that have been posted here. I should be getting a big cash influx soon, and I plan on investing a good amount.

 

[Lakers Offseason]

I set up an investopedia account, reading up on everything now. I'm going to play around with it, buy some shares and see how things go - while reading some of the sites that have been posted here. I should be getting a big cash influx soon, and I plan on investing a good amount.

Another thing breh, don't mess with penny stocks to start. That's a quick way to lose money.

Go to Google Finance and set yourself up with a portfolio and buy stocks. It's not real money so you can add as much "money" in your account and purchase as many shares of companies as you want. It's a good way to start following the market and you'll see if the company you choose to purchase would have made you money. It's a pretty good tutorial for yourself.

 

[Ohene]

It depends. The more money you put in, the greater the reward or greater the loss. I would start with $500 and see what kind of return you can get with it. This way you minimize your loss at only $500 at most and you get to learn the ropes.

Now is the time to invest though, the market is on steroids.

The US is in a recovery breh. All that sell in May bullshyt...smh people following the textbook too much. Right now is the time to buy and hold!

Whats best is that it isnt even like the Markets are having big 2,3% days. This is nice and steady growth, its a beautiful thing to see brehs