Money and Investment

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Okidokes,
things look pretty nasty overall.
Now is the time to make a list of all the solid companies that can weather
any kind of collapse. The rock solid companies.

Then, sit back and relax, wait for all hell to break loose,
start scooping then up at bargain rates.


foil
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Rode RZ up and got out in 16s. Presented at tech conference today... might buy some Jan calls. Negative beta during the down weeks!
 
Hey guys--I don't know much about stocks so I'm looking for advice from someone much more savvy than myself.
I bought RMDX a while ago for fun (my first stock ever) because I thought they make a cool product and its low stock price enabled me to buy more shares on my limited budget. Now it has almost doubled in the last few months and is still on the upswing.
Should I sell this while the selling is good or do you think it could keep going?
Thanks in advance for you replies.
 
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Spenco Roberto said:
Hey guys--I don't know much about stocks so I'm looking for advice from someone much more savvy than myself.
I bought RMDX a while ago for fun (my first stock ever) because I thought they make a cool product and its low stock price enabled me to buy more shares on my limited budget. Now it has almost doubled in the last few months and is still on the upswing.
Should I sell this while the selling is good or do you think it could keep going?
Thanks in advance for you replies.
Click to expand...

Sell some stock, buy the intellegent investor by ben graham. Its an investing classic and one that everyone should read regardless of their intentions in the market.
 
I researched RMDX,
seems to be a company at the right place at the right time - should weather an upcoming market collapse.

You could sell half of your stock and recoup your investment.
From there, wait until it goes on sale before you buy again.
Like a lady buying a dress, she always waits for the department store sales.

Sit back wait for a bad day, then gobble it up.

foil:p
 
me454555 said:
Sell some stock, buy the intellegent investor by ben graham. Its an investing classic and one that everyone should read regardless of their intentions in the market.
Click to expand...

very good advice.

I'm about to pick up "The Dhando Investor" by Mohnish Pabrai...I've heard great things.
 
Thanks for the advice everybody. I like the idea of selling some and holding on to the rest. I'll check out that book too.

Buying this stock first has probably given me some unreal expections...
 
www.captialinvestmentgroup.com

I completely understand where everyone is coming from. How to juggle $200k in student loan debt and trying to buy a home. Most of the people I work with tend to pay down quite a bit of that debt the first couple years out of residency. Then when their incomes go from $60,000 a year to $200,000 a year they put every penny they can towards their loans. The key is to find a fellowship in pain management after residency. You will get paid more for your training. Then when you are done your income potential is vastly improved and hospitals and private practices will be willing to pay you more.

I think every new physician should have a financial plan that addresses how to pay down student loans, credit card debt, buying a home, disability and life insurance needs, taxes, savings, potential investing, estate planning. These forums are great and provide some good advice, but people forget that each person has their own views, feelings and preferences on money and debt. Let an experienced financial advisor help you make these decisions. Everyone has to remember that they are going to be multi millionaire in the future and to properly prepare from the beginning will only lead to you having to having more in the future.

Thanks,
Brandon
 
PainDr said:
Thanks Mille!
Click to expand...

As a Physician and small business owner their are a a plenty of options to help reduce your tax burden now and in the future. If you are considering joining an existing practice or starting a new one consider that you can start a pension plan, 401k plan, profit sharing plans, healthcare savings accounts, money purchase plans plus the plans you have if you are employed by a hospital also. Also you can get tax breaks based upon how the business is set up to begin with. It is also very important to look to have a financial advisor look at your tax situation to help you figure out what plans will give you the biggest tax relief by allowing you to contribute as much as you possibly can. I would stay away from the larger firms out their like a Merrill Lynch, Smith Barney, Morgan Stanley, Charles Schwab, Fidelity, UBS since none of those firms and the majority of those advisors will not address the big picture with you and help you develop a well thought out written financial plan. I would go to a small independent firm that specializes working with young physicians like www.capitalinvestmentgroup.com. They have deep roots in the medical field. They have a medical advisory board and the majority of their clients are physicians who they have helped sort through all the issues from starting/joining a practice and developing a written financial plan that address every issue or decision someone would have to make.
 
Re: paying off loans vs. letting them ride.

I will pay off my loans first before investing. Sure, technically you can make more money by investing at a higher percentage than your loans are costing. Realistically though, you are going to pay your loans off in a couple of years so the difference will not be so dramatic. Then you totally free up your greatest wealth-building tool: your income. Not to mention the lifted burden of not owing anybody anything. I can't wait for that.

My .02
 
Oct. 24 (Bloomberg) -- Jim Rogers, chairman of Beeland Interests Inc., said he is shifting all his assets out of the dollar and buying Chinese yuan because the Federal Reserve has eroded the value of the U.S. currency.

``I'm in the process of -- I hope in the next few months -- getting all of my assets out of U.S. dollars,'' said Rogers, 65, who correctly predicted the commodities rally in 1999. ``I'm that pessimistic about what's happening in the U.S.''



From foil:
Hmmmm,
He's probably correct,
however I probably would buy swiss.
That would probably be the safest haven during the upcoming ballistic times.
Read the world news between the lines and formulate your own opinion.


After the next major hick-up, look into buying this stuff

http://www.spacewar.com/Ray_Guns.html

Again, wait for it to go "on sale"

foil
 
Just buy gold. Great protection against the dollar and you don't have to worry about the currency market
 
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me454555 said:
Just buy gold. Great protection against the dollar and you don't have to worry about the currency market
Click to expand...

The swiss hold 40% of their reserves in gold so buy buying the swiss franc you're buying gold in a way... and when the carry trade unwinds the swiss franc is going to rocket
 
Hey everybody,

I posted a few weeks back for advice about this stock. I have not sold of my RMDX shares yet, and the price continues to soar. It has been great. I get mixed messages from discussion boards about this company--whether there is real growth or just hot air. The jury is still out but I am getting a little nervous leaving everything in.

On another note...

There is a strange trend each day that has been going on for a while with this stock. Around 2 or 2:30 pm the stock seems to dip, and everyday it has jumped up 5-15 cents in the last 45 min of trading. With this last minute rally, the volume of shares traded skyrockets too. Check it out for yourselves--over the past week or two it has happened every day. Is this a known/common phenomenon? Does anyone know why this is happening?
 
granolabar2 said:
does anyone have information on how likely it is that lawyers will go after personal "unprotected" assets? isn't that what malpractice insurance is for?
Click to expand...

Malpractice....sucks don't it?

Sorry I am not into anesthesiology, so I hope you don't mind me posting here.

Anyone know what sort of limits your profession carries in general? When I was a med student I had a 1 mill/3 mill policy - but if you were the one hung out to dry, 1 mill may just begin to cover what a judge/jury awarded.

What you can protect may vary state to state. In Arizona there is a homeowners protection, so that when you are sued or go bankrupt, your primary dwelling at least is largely protected. So in Arizona, sinking money into your house is one way to protect your assets.

Back what seems like a loooooong time ago, when I was working for real income - I had a drawer I started throwing money in. Don't get me wrong, I also had stocks, money markets, 401 - but I started off just throwing money in a drawer. Then I was walking past a mall that had a gold/silver/pawn shop and for grins bought a Kruggerand. I liked the way it looked, so I bought one here and there from time to time. Soon (within 3 years) I had about $10,000 cash in the drawer (like an 8 inch stack of bills), 17 Kruggerands and 25 LBS of silver (ingots, coins, large bars). Depending on the market that drawer might have been worth $20,000+. My brothers thought I was crazy - and I probably was. My personal overhead was about $3000 at the time (had 3 children at that time) - so it was about 6 months of OH in a drawer. There was something comforting about that.

Lots of good things to think about here - thanks for the discussion
 
Mman said:
I'm sitting here with around $170,000 in debt. I plan on deferring as long as possible and paying the minimum as long as possible because my loans are locked in at 1.7% interest annually because I hit the jackpot graduating in 2005. I have plain old savings accounts at places like ING and HSBC paying over 5% right now. It'd be financial suicide to pay off loans that accrue less interest then you can make by saving/investing.
Click to expand...

Smart man. Do NOT pay off a debt that is charging 1.7% interest. Take the $170,000 you would be paying on that debt and put it ALL in the the stock market. Don't buy a regular run of the mill mutual fund with high fees, and inconsistent returns. Buy VFINX or VTSMX and then forget about it. Come back in 20 yrs and tell me how you're doing.

What you do NOT want to do is blow all your money AND not pay off your debts. If you aren't paying off your debts then you must save. If you plan to party it up then paying off you debts is a better use for your money.

Ignore anyone else that says you should pay off your debt instead of saving. 1.7% is like free money. Inflation alone erodes that debt.
 
Doowai said:
Malpractice....sucks don't it?

Sorry I am not into anesthesiology, so I hope you don't mind me posting here.

Anyone know what sort of limits your profession carries in general? When I was a med student I had a 1 mill/3 mill policy - but if you were the one hung out to dry, 1 mill may just begin to cover what a judge/jury awarded.

What you can protect may vary state to state. In Arizona there is a homeowners protection, so that when you are sued or go bankrupt, your primary dwelling at least is largely protected. So in Arizona, sinking money into your house is one way to protect your assets.

Back what seems like a loooooong time ago, when I was working for real income - I had a drawer I started throwing money in. Don't get me wrong, I also had stocks, money markets, 401 - but I started off just throwing money in a drawer. Then I was walking past a mall that had a gold/silver/pawn shop and for grins bought a Kruggerand. I liked the way it looked, so I bought one here and there from time to time. Soon (within 3 years) I had about $10,000 cash in the drawer (like an 8 inch stack of bills), 17 Kruggerands and 25 LBS of silver (ingots, coins, large bars). Depending on the market that drawer might have been worth $20,000+. My brothers thought I was crazy - and I probably was. My personal overhead was about $3000 at the time (had 3 children at that time) - so it was about 6 months of OH in a drawer. There was something comforting about that.

Lots of good things to think about here - thanks for the discussion
Click to expand...

What sort of ghetto S&L were you running? Were you preparing for a nuclear war? Ingots?! :laugh:

Your brother was right. You're crazy.

A lot of doctors are brilliant, but when it comes to financial matters I've seen all kinds. That is the funniest $h-t I've read in a long time. Are you putting us on or what?

I just can't the image you paint out of my head. You're a character.
 
bmc100 said:
As a Physician and small business owner their are a a plenty of options to help reduce your tax burden now and in the future. If you are considering joining an existing practice or starting a new one consider that you can start a pension plan, 401k plan, profit sharing plans, healthcare savings accounts, money purchase plans plus the plans you have if you are employed by a hospital also. Also you can get tax breaks based upon how the business is set up to begin with. It is also very important to look to have a financial advisor look at your tax situation to help you figure out what plans will give you the biggest tax relief by allowing you to contribute as much as you possibly can. I would stay away from the larger firms out their like a Merrill Lynch, Smith Barney, Morgan Stanley, Charles Schwab, Fidelity, UBS since none of those firms and the majority of those advisors will not address the big picture with you and help you develop a well thought out written financial plan. I would go to a small independent firm that specializes working with young physicians like www.capitalinvestmentgroup.com. They have deep roots in the medical field. They have a medical advisory board and the majority of their clients are physicians who they have helped sort through all the issues from starting/joining a practice and developing a written financial plan that address every issue or decision someone would have to make.
Click to expand...


Errr.... Is this a sales pitch?
 
Tenesma said:
this is a great time to start buying real estate - in some markets you can easily bid 20% under asking and likely get it...


rule #3: don't invest in stocks until you got about 20k to play with... and make investments in sizes of 5k minimum, preferably 10k per stock.

rule #4: if you are too lazy to learn about business/investing/stocks then find a financial advisor that works on a fee basis (no commissions)... And make sure they aren't trying to sell you crappy mutual funds that they get commissions for without you realizing it (ie: all the american funds, all the american express funds, etc...)... if the financial advisor ever offers to come over to your home then cross them off (they obviously aren't very busy)...
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Investing in individual real estate properties is risky in ANY market. Buy a home to live in not as an investment. If you want to invest in real estate buy a good REIT index like VGSIX. Anything other than that isn't worth the gamble.

If your debt load is reasonable and not high interest then you can start investing in the stock market NOW. And it would really behoove you to jump on the band wagon immediately. VFINX and VTSMX require $3000 to start and I think you can add in $100 increments to both. Buy one of these funds and add to it regularly in up or down markets and then come back and tell me how you're doing in 20 yrs. Do not trade. Do not sell. Selling is for wimps. Real men buy and hold. They dollar cost average into gut wrenching bear markets. Only people with guts can do that. If you're scared then forget what I just said and go let a broker rip you off.

Besides some tax stuff financial advisers are a bunch of bunk. If you can make it through medical school you are smarter than most of them. Google index fund investing, buy and hold, and dollar cost averaging. Also compare fees and turnover between funds. It ain't hard. If you can't do that then you have no business being a doctor.

Vanguard is my spot. Check out their index funds. Super low fees and no chiseling little brokers or "financial advisers" to rip off fees. You can own Vanguard index funds in your taxable account because they have such low turn over that you don't incur much in the way of capital gains taxes until you cash in.

Oh by the way, if you are in your 20s, 30s, or 40s I better NOT catch you near bonds. Bonds are for wussies and old people. Keep a few grand worth of emergency money in a money market fund or in cash at your bank. If you need to make any big purchases in the next 3-4 yrs (kids entering high school and college start is 4yrs) then you can put some of that money into a short term bond index fund. That is the ONLY time I will allow you to deviate from my 100% stock portfolio. Otherwise I'll be back on this thing talking smack about you.

Finance has peer reviewed literature. What?! Are you shocked? Bet you financial adviser didn't tell you that did he/she? Well there is a very good reason for that. Peer reviewed academic financial literature basically destroys your financial planner's whole sales pitch. Check out Burton G. Malkiel's book and you'll see what I mean.

Alright now go invest!
 
drugdealer3000 said:
Investing in individual real estate properties is risky in ANY market. Buy a home to live in not as an investment. If you want to invest in real estate buy a good REIT index like VGSIX. Anything other than that isn't worth the gamble.

If your debt load is reasonable and not high interest then you can start investing in the stock market NOW. And it would really behoove you to jump on the band wagon immediately. VFINX and VTSMX require $3000 to start and I think you can add in $100 increments to both. Buy one of these funds and add to it regularly in up or down markets and then come back and tell me how you're doing in 20 yrs. Do not trade. Do not sell. Selling is for homosexuals. Real men buy and hold. They dollar cost average into gut wrenching bear markets. Only people with guts can do that. If you're scared then forget what I just said and go let a broker rip you off.

Besides some tax stuff financial advisers are a bunch of bunk. If you can make it through medical school you are smarter than most of them. Google index fund investing, buy and hold, and dollar cost averaging. Also compare fees and turnover between funds. It ain't hard. If you can't do that then you have no business being a doctor.

Vanguard is my spot. Check out their index funds. Super low fees and no chiseling little brokers or "financial advisers" to rip off fees. You can own Vanguard index funds in your taxable account because they have such low turn over that you don't incur much in the way of capital gains taxes until you cash in.

Oh by the way, if you are in your 20s, 30s, or 40s I better NOT catch you near bonds. Bonds are for wussies and old people. Keep a few grand worth of emergency money in a money market fund or in cash at your bank. If you need to make any big purchases in the next 3-4 yrs then you can put some of that money into a short term bond index fund. That is the ONLY time I will allow you to deviate from my 100% stock portfolio. Otherwise I'll be back on this thing talking smack about you.

Finance has peer reviewed literature. What?! Are you shocked? Bet you financial adviser didn't tell you that did he/she? Well there is a very good reason for that. Peer reviewed academic financial literature basically destroys your financial planner's whole sales pitch. Check out Burton G. Malkiel's book and you'll see what I mean.

Alright now go invest!
Click to expand...



Errr.... Is this a sales pitch?
 
Trisomy13 said:
Errr.... Is this a sales pitch?
Click to expand...

How in the world could ANY of that be a sales pitch?! Did you click on any of the links?! I hope you are more vigilant when administering gas my friend.
 
Does anyone even listen to financial advisors? I consider them worthless but some may disagree.
They beat the diversity mantra like its the only drum they got, aside from that advice what they got to offer? Some of these guys push these "managed accounts" that charge 1-2% with crappy return. Anyhow what gives? Who uses these guys?

And while we are on it, are bond funds not the most worthless? wft?
 
as much as i disagree with drugdealers general take on life and residency, when it comes to his take on indexing and dollar cost averaging i have to admit that he is right on the money (sic ). vanguard has served me extremely well , the combination of low cost and the consistency of averaging beats almost everything over the years.... this doesn't mean that there isn't a bit of money on the side for gambling, right now its mainly in china, but again , this is just a gamble.....
drugdealer forgot to mention that vanguard offers the investor the courtesy of an advisor, free of charge from a certain level on.
 
drugdealer3000 said:
Investing in individual real estate properties is risky in ANY market. Buy a home to live in not as an investment. If you want to invest in real estate buy a good REIT index like VGSIX. Anything other than that isn't worth the gamble.

If your debt load is reasonable and not high interest then you can start investing in the stock market NOW. And it would really behoove you to jump on the band wagon immediately. VFINX and VTSMX require $3000 to start and I think you can add in $100 increments to both. Buy one of these funds and add to it regularly in up or down markets and then come back and tell me how you're doing in 20 yrs. Do not trade. Do not sell. Selling is for homosexuals. Real men buy and hold. They dollar cost average into gut wrenching bear markets. Only people with guts can do that. If you're scared then forget what I just said and go let a broker rip you off.

Besides some tax stuff financial advisers are a bunch of bunk. If you can make it through medical school you are smarter than most of them. Google index fund investing, buy and hold, and dollar cost averaging. Also compare fees and turnover between funds. It ain't hard. If you can't do that then you have no business being a doctor.

Vanguard is my spot. Check out their index funds. Super low fees and no chiseling little brokers or "financial advisers" to rip off fees. You can own Vanguard index funds in your taxable account because they have such low turn over that you don't incur much in the way of capital gains taxes until you cash in.

Oh by the way, if you are in your 20s, 30s, or 40s I better NOT catch you near bonds. Bonds are for wussies and old people. Keep a few grand worth of emergency money in a money market fund or in cash at your bank. If you need to make any big purchases in the next 3-4 yrs then you can put some of that money into a short term bond index fund. That is the ONLY time I will allow you to deviate from my 100% stock portfolio. Otherwise I'll be back on this thing talking smack about you.

Finance has peer reviewed literature. What?! Are you shocked? Bet you financial adviser didn't tell you that did he/she? Well there is a very good reason for that. Peer reviewed academic financial literature basically destroys your financial planner's whole sales pitch. Check out Burton G. Malkiel's book and you'll see what I mean.

Alright now go invest!
Click to expand...

I agree with the 100 percent stock advice. But vanguard and mutual funds????? Mutual funds are for wussies who dont want to do the work and want the fund managers to do the work for them. MOst funds have expense ratios hovering around 1 percent although vanguard's are notoriously low. thats 1 percent of the net asset value of the fund. regardless of how they perform. thats ridiculous. You cant get rid of mutual funds as easily as stock. You cant find out what the fund did until 4 pm. and vanguard platform is terrible. it doesnt update with the market. and brokerage fees are too high. Go with scottrade of fidelity investments. Scottrade has 7 dollar trades regardless of how much money you have. same trade at vanguard will cost you like 32.95. Stay away from index funds youll never get the returns that you do then if you invest in some good stocks with good fundamentals. look at google look at rimm look at what apple is doing now. garmin. there are many many others. so buy and hold is for wussies its buy and homework
 
johankriek said:
I agree with the 100 percent stock advice. But vanguard and mutual funds????? Mutual funds are for wussies who dont want to do the work and want the fund managers to do the work for them. MOst funds have expense ratios hovering around 1 percent although vanguard's are notoriously low. thats 1 percent of the net asset value of the fund. regardless of how they perform. thats ridiculous. You cant get rid of mutual funds as easily as stock. You cant find out what the fund did until 4 pm. and vanguard platform is terrible. it doesnt update with the market. and brokerage fees are too high. Go with scottrade of fidelity investments. Scottrade has 7 dollar trades regardless of how much money you have. same trade at vanguard will cost you like 32.95. Stay away from index funds youll never get the returns that you do then if you invest in some good stocks with good fundamentals. look at google look at rimm look at what apple is doing now. garmin. there are many many others. so buy and hold is for wussies its buy and homework
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johankriek,

Thanks for the response. It got me thinking.

Guilty as charged. I am a bit of a wussy. I'm serious. With medical school, USMLEs, and residency interviews not to mention fighting with docs on GasForums about the true nature of man my schedule is full.

I'm broke right now but when I have dough I do have the urge to "do homework" and trade, but given my time pressures I don't think I can really be successful at it... consistently. I've looked at a number of academic studies that show dollar cost averaging into a index fund and buy and hold beat trading on average.

This is something I've struggled with for a long time. johankriek, how do you reconcile these peer reviewed academic studies with your experience? In any given year 2/3 of the actively managed funds run by guys on Wall St fail to beat the index. Even worse there seems to be no way of telling which fund is going to be lackluster in any given year. If these "pros" are getting it wrong what chance do we have?

My personal feeling is that since the person asking the original question was not a sophisticated investor and probably didn't have much time to dedicate to "homework" that a simple dollar cost averaging/index fund/buy and hold strategy was what was best for them. He MAY (big emphasis on may) experience less return than you, but he will most assuredly NEVER blow himself up.

Secondly the reason I was so emphatic about Vanguard was because the last time I checked they had razor thin expense ratios and good tracking of the target indices. I would NOT buy any ACTIVELY managed funds by Vanguard or anyone else. Index funds are the way to go in the fund arena and if you get $100,000 and put it into VFIAX the S&P index at vanguard you get the Admiral shares which only charge 0.09%/yr. There is no way on God's green earth I would pay anyone anywhere close to 1% of assets to babysit my money. When I run screens for domestic stock funds I set the expense ratio to below 0.30%.

Since I don't actively trade I didn't notice any problems with the Vanguard interface. I do NOT buy individual stocks at Vanguard. You are correct. There are cheaper more elegant was to get that done. Again though, I was steering this guy away from that, because I think he could get himself into trouble really quick. There is no reason he shouldn't start investing now but he has to be cautious.

I don't really stress about when Vanguard trades settle. I honestly can't tell you how many days it takes for vanguard to get the money out of my bank account and settle the trade. It doesn't matter. Sometimes it clears at an unanticipated awful time, and sometimes I've actually inadvertently bought at the exact bottom of a trend. I wouldn't trade individual stocks this way.

At this early stage in my training I have too much stuff to worry about (like not killing anyone) to time the market. Maybe when I'm out and a board certified doc with experience I'll have more time to devote to investing.
 
fastosprintini said:
as much as i disagree with drugdealers general take on life and residency, when it comes to his take on indexing and dollar cost averaging i have to admit that he is right on the money (sic ). vanguard has served me extremely well , the combination of low cost and the consistency of averaging beats almost everything over the years.... this doesn't mean that there isn't a bit of money on the side for gambling, right now its mainly in china, but again , this is just a gamble.....
drugdealer forgot to mention that vanguard offers the investor the courtesy of an advisor, free of charge from a certain level on.
Click to expand...

Thanx. I appreciate you disagreeing with me in a civilized manner and still being able to have a productive conversation.

I find it fascinating that if you apply the same rigorous evidence based approach that we have in medicine to finance that a lot of stuff that is sold by Wall St to Main St doesn't make sense. I find this very disturbing.

When I come across a question in medicine I sometimes pass up the books and go straight to journal articles hot off the press to find out what's really going on (yes I still use books. I'm a medical student). You can rest assured that that isn't what is going on at a broker's office. When they have a question they call [SIZE=-1]Henry Blodgett.

The key is to save as much money as you can and avoid fees and losses. I am still searching for a place that has lower fees than Vanguard. I've looked at the dollar cost averaging/buy and hold/index fund strategy over numerous time periods and I've come to the conclusion that it beats trading for most people.

Having said that many years from now after I've put most of my money in a couple of index funds I do intend to do a little "gambling" with individual stocks. But it will be money I can afford to lose. Its something irrational that I feel I just have to do.

As far as China is concerned I don't know what to make of it. If US investment banks can't even assess the credit quality of home owners across the Hudson in New Jersey I really have to wonder about any info we get on China. Something is certainly going on over there. Just like the internet isn't a toy, but a lot of people that invested in arguably one of the most important technological advances of the 20th are still in the red.

Now having said that Warren Buffet has raided the place for a few billion dollars. And the irresponsible deficits that are being run in the US only point in one direction for the dollar (which isn't bad for US manufacturing... what little is left).

If anyone has any insight into China and other emerging market trends I'm all ears, but for the newbies I really feel the conservative index fund/dollar cost average/buy and hold strategy is the way to go. That is really a heart felt belief on my part.
[/SIZE]
 
mille125 said:
With all due respect, I think that "disaster" is a strong word to use for decreased medicare reimbursement. Lets be real. If you become disabled and lose your ability to work (HIV needle stick, ski accident, etc.) that is a disaster. Having your salary reduced to 200K is hardly a disaster......
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mille125,

One caveat is you can buy disability insurance which ALL doctors should have. Disability is something NO doctor should be worried about. Yes it will suck not being able to work in your desired field, but you should buy enough insurance so that the party doesn't come to a screeching halt because of some random event. Despite the proclamations of some people on this forum medicine faces the same challenges as other businesses. And there are solutions to these problems.

Where medicine differs from other businesses is the unkind actions of Medicare/Medicaid. You can't hedge against them.

Disability should not be a concern. You get a needle stick... Its par for the course. You break a leg skiing... Just be glad you were able to afford a skiing trip (some women in Darfur get their legs broken while being raped). Then you go and start cashing modest disability checks and spend time with your family. Disability is a random act of chance. Buy insurance, be careful, and leave the rest to the big guy in the sky.

A Senator who has only voted pay increases for himself cuts your pay... to bad. Should have lobbied harder and joined a PAC. I can't see any other defense. Be forewarned. Once Capitol Hill is done with primary care you will be next. You're comfortable thinking going from $300,000 to $200,000 ain't bad. Well rest assured my friend with a $2.4 trillion dollar hole in the budget $200,000 is just going to be a restroom break on the way to the Disneyland called $100,000.

I would have loved to have been a fly on the wall when FP pay first started to be cut. I'm sure guys were like its not so bad. Now those poor b@st@rds are rounding in the hospital AND seeing 40 pts in the office just to make a portion of what they used to make. I can't imagine the abysmal health care that's getting handed out. I'm sure they're having lengthy discussions about URIs and the appropriate use of antibiotics with EVERY patient... I'm dead certain of it.
 
go read liar's poker if you haven't. Wallstreet is there to make money for itself. Whether or not you make money is not its concern.

Of course those that make money for others tend to do better financially as well.
 
drugdealer3000 said:
This is something I've struggled with for a long time. johankriek, how do you reconcile these peer reviewed academic studies with your experience? In any given year 2/3 of the actively managed funds run by guys on Wall St fail to beat the index. Even worse there seems to be no way of telling which fund is going to be lackluster in any given year. If these "pros" are getting it wrong what chance do we have?
Click to expand...

the pros are getting it wrong because they dont get paid to get it right.. they get their .8percent of the net asset value regardless. ANother reason is that they are diversified. Diversification sucks. I know Jim cramer loves it.. But I want 100 percent of my money in good stocks and 0 percent of my money in bad stocks all the time. the key is fundamental analysis.
 
Anyone else hating life after this week?
 
Anyone here use any newsletter services to good effect? I'm curious about Zack's surpise trader ($3k/yr!!), and their combined options trading service ($1k/yr). I currently subscribe to Bulltrade, which has had a very good history of excellent stock picks. Most trades make 5% over 2-3 weeks. Some trades do a lot better. A few end up breaking even. Losses are rare (only two this year).
 
Wow, what a great thread.

What are some of the mutual funds that you guys are investing in?

I'm still a med student so I have limited cash but I've put away the small amount that I do have in VEIEX, a vanguard emerging markets fund.

They have great past performance numbers and I know one shouldn't follow the past to predict the future but I'm wondering what others think....with China's economy going up so fast, is it a good idea to be in an emerging markets fund right now?

I welcome all your opinions :)
 
There is money to be made in the Mortgage stocks.
Most of the solid companies are getting beat up now, but wait a tad further before buying.
Research these: FNM, HCM, CFC,MFA
Look at 11-27-07 stock charts.
Find their low point, then set your buy point even lower than this, much lower.
With HCM , I'd set it at ten cents.
Do your own research: are the major company execs selling / dumping?
Not with these.

Foil
 
Hey everyone,

As a branch off of money strategies, does anybody have suggestions for disability insurance for residents? Are there policies that cover salary until age 65? What are the monthly rates like? Thanks.
 
m3unsure said:
Hey everyone,

As a branch off of money strategies, does anybody have suggestions for disability insurance for residents? Are there policies that cover salary until age 65? What are the monthly rates like? Thanks.
Click to expand...

some colleagues have it. it costs them ~500/yr. i forget the term but you want the kind that if you become disabled and cannot perform as a PHYSICIAN then you get benefits. (vs the insurance company saying, well, you can do medical transcription or some other hideous job).
 
Any thoughts on these solar energy stocks?

YGE- currently around 28, 1 year target estimate is 194.31 (per yahoo)

FSLR- currently around 214, 1 year target estimate is 247.08 (sidenote: should have bought this when when it was posted here around late 2006)

SOLF- currently 26.25, 1 year target estimate is 59.46
 
Oil Reasearch
Minister Lindsey Williams shared suppressed knowledge regarding oil companies and their supplies that he said he learned of as a chaplain to Alaskan oil pipeline workers in the 1970s. During this time, he was invited to join a meeting of the top oil company officials, where it was announced they had just discovered the largest oil pool in North America (and possibly the world). The location, under Gull Island, in the waters of Prudhoe Bay in Alaska, would provide more than enough oil and natural gas for the next 200 years, Williams was reportedly told.

Yet, the day after the meeting, he was informed that the discovery was "classified," and he later learned that oil companies weren't going to announce the new supply until the price of oil had reached $150 a barrel.

Williams said he also found out that crude oil was chosen in the early 1960s as a "method of control," and by having it sold in US currency it helped pay off America's national debt. The fact that oil is not currently being sold in dollars by many countries has contributed to the decline in value of the dollar, he noted, and may pave the way for the 'Amero,' the supposed currency of a North American Union.


http://www.lwoil.com/
 
daily oil consumption in the 70's isn't quite the same as now so those 200y aren't accurate at todays rates. US dept in the 60's was also a fraction of what it is today.
 
Hey guys...just $5000 worth of MINDX.

Historically it's done excellent...It's an all-India mutual fund (yes I know risky)...but the possible returns are good. YTD I think 63%.

What I really wanted a piece of was this company called Reliance Communications. Apparently the richest guy in the world (Anil Ambani), who just took Gates out started this company. Reliance is essentially all over India and 'controls' telecommunications (cell phones,etc). The only problem is that Reliance is only traded on the Bombay stock exchange and as foreigners we cant trade on it unless you go through some hoops. Thus, only way we can access it is through a mutual fund.

Tell me what you guys think..
 
SleepIsGood said:
Hey guys...just $5000 worth of MINDX.

Historically it's done excellent...It's an all-India mutual fund (yes I know risky)...but the possible returns are good. YTD I think 63%.

What I really wanted a piece of was this company called Reliance Communications. Apparently the richest guy in the world (Anil Ambani), who just took Gates out started this company. Reliance is essentially all over India and 'controls' telecommunications (cell phones,etc). The only problem is that Reliance is only traded on the Bombay stock exchange and as foreigners we cant trade on it unless you go through some hoops. Thus, only way we can access it is through a mutual fund.

Tell me what you guys think..
Click to expand...

The Ambani's are very wealthy (their father started the company and they split it) and the Reliance companies will take advantage of India's growth for decades to come.
A fund is probably your best bet to get a piece of India. I think India seems a bit overpriced at the moment(maybe others can comment?), they are struggling to slow down the hot money entering the country and I'm waiting/hoping for a correction so I can get in. Although, I'm still kicking myself for thinking India was overpriced two years ago.
 
So I bought Matthews India (MINDX) which looks good...but check this one out...Matthews China (MCHFX) with a 1 yr return of 94% !!!

What do you guys think? I was watching this video which says the Chinese govt will definitely try to control inflation by increasing interest rates etc so the growth may not be 94% but I cant really see it get that bad.

What do people think??
 
m3unsure said:
Hey everyone,

As a branch off of money strategies, does anybody have suggestions for disability insurance for residents? Are there policies that cover salary until age 65? What are the monthly rates like? Thanks.
Click to expand...

My thought is that you or I don't want my resident salary insured. It is important to have disability insurance for later. Now, replacing ~300k might be quite expensive (I don't know how much) but I do have a story about DI.

My relative is/was a dentist who was rear-ended and suffered a neck injury. I don't know more details except that it caused him extreme difficulty to practice dentistry at the time. I believe he was a awarded something from the lady who hit him, but after a 5-7 year court battle obtained a judgement from his disability insurance for ~100K per year and they have to pay him no matter how much money he earns or whatever he does. The ironic part is now (~10 years later) he is practicing dentistry again. I think he still gets his checks!

He actually decided to sell DI for a while, and used his own picture of him in a neck brace on his brochure. He put his story inside, and how it paid off for him personally. He told me he got tired of constantly having to network, and handing out his business card. He wanted to go back to dentistry because he wanted to be 'off' when he was 'off' etc.

This story is just to illustrate something I have personal knowledge of. He simply purchased DI, was injured and proved it in a court of law, and he got what he paid for. He didn't sue any doctor or company other than his DI company who initially declined to pay out, of course.

Sidenote: I purchased Term Life Insurance recently, and of course they tried to sell me more insurance while I was there. The insurance guy told me that there is a 50% chance more of becoming legally disabled than dying accidentally. Food for thought.
 
gasnewby said:
some colleagues have it. it costs them ~500/yr. i forget the term but you want the kind that if you become disabled and cannot perform as a PHYSICIAN then you get benefits. (vs the insurance company saying, well, you can do medical transcription or some other hideous job).
Click to expand...

It is called a own occupation clause and it is a must! This means that if you become disabled and can no longer perform typical anesthesiologist duties, you will receive your pay-out (even if you can still lecture at the med school, attend in the ICU etc!!!). Again, a MUST HAVE!

My program, and most programs I believe, offer DI but you can't extend it once you leave residency. It didn't make much sense to me to get it during residency only to have to re-apply for a private policy from Met Life etc when I'm older and maybe less healthy. Planning on applying for a private policy now which will automatically increase its benefit pay-out as we move up in the world. Got the quotes from www.protectyourincome.com.
 
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