So how did Phil do it?

[SeanieT]

Originally Posted by npg

...and lets certainly not look at the obvious truths staring right into our eyes. Oh no! That would be too painful to bear...!

Come on. Wake up. Bullshitting yourself is the best way to get rid of yer purse's contents.

Hey man why don't you ask Phil about it. Im sure he knows what he did. Why are you here if you did not have a since of belief that this system may work. Iv'e done some paper trading and I see that I can make at least more than what Mr. Funds manager can do. I think I will keep doing it. I think we all understand that the market is risky. I hear it everyday when I talk to people who are not educated on how the market works. And it's a true fact. Yeah I may lose a bit here and their but it least it's me losing it with my own mistakes. But when I make money, it feels great. I know one thing. There are plenty authors out there who are not as Rich as Phil is. I have emailed Phil before and he has answered me. Why don't you ask him about it.

[lanefj]

I think Jim made a good point. I seems that for most of the time Phil was investing, the market has had 2 major upswings. The 90's with the Tech. boom and then again, after the downturn in 2000-2001. I know plenty of people who had lost 100's of 1000's of dollars after 2001. I personally am paper trading and finding wonderful businesses to add to a watchlist while waiting for the market to have a major correction (which most analysts seem to think is on the horizon, perhaps it is happening now). There will come a right time to buy. As Buffett and Phil have said, "be patient."

[lanefj]

I too have asked Phil questions and he has responded. I think you should ask him yourself and share his response with us.

[npg]

Originally Posted by SeanieT

Why don't you ask him about it.

Maybe because I am not that bothered. Do you really expect him to say: "yes, I made some money in the market, but the big bulk comes from an endorsement deal with investools, book sales and public speaking"?

I don't think so.

Besides, if me being a skeptic is too much for you than tough. I am not in the business of worshiping. It is my right to question other peoples claims.

However, I happily stand corrected. Not that it bothers me much either. Phils work has a certain merit to me and he has helped a lot of people. Lets just hope this does not turn sour once realities catch up with the deficit and debt levels.

Are you ready for the ride?

[SeanieT]

Originally Posted by npg

Maybe because I am not that bothered. Do you really expect him to say: "yes, I made some money in the market, but the big bulk comes from an endorsement deal with investools, book sales and public speaking"?

I don't think so.

Besides, if me being a skeptic is too much for you than tough. I am not in the business of worshiping. It is my right to question other peoples claims.

However, I happily stand corrected. Not that it bothers me much either. Phils work has a certain merit to me and he has helped a lot of people. Lets just hope this does not turn sour once realities catch up with the deficit and debt levels.

Are you ready for the ride?

Your funny!

[icedmetal]

He's also right.

[goelzgroup]

The market is very different right now, it is over valued and overpriced, by patient, all you need to do is move at the right time and history shows it will happen in the next 5 years. History says if a Democrat gets to the oval office the market will plummet and then opportinuty arizes. Watch the metals and currency exchanges there are opportunities there now, some in 50% and higher.

Also don't forget selling short is a possibility, typically stocks tend to move up ,but in a market like today many go down, especially when its overpriced.

[npg]

I would not call it overpriced, but I would agree that it is harder to find bargains.

[bovverd]

An interesting subject -

The thing is if he had pretty much perfected this investment method, paper traded for a good length of time very successfully and was entirely confident of reducing the risk down to zero ie to not lose any money what would have been stopping PT getting a fair sized bank loan to get himself going?

This could possibly explain the gains he mentions but at the same time it might not be something he would want to be seeming to officially endorse in his book as the correct approach for us amateurs.

For me personally If I can double 5k or 10k and become skilled enough at this to not lose any money ie spotting the signs when to jump off of a stock and wait etc I will have no hesitation in scrapping my plans to spend 30k on an ever depreciating new car and will instead use the money to invest with.

In the UK if you purchase a 30k car it would be worth on average after one year around 20k. An insane waste of money. If I were to borrow the same 30k for investing my loan repayments would remain the same but I would have at least a chance of making the sum grow.

My theory is PT probably practised and perfected this investment method with $1000 and then once he'd mastered the art of not losing money and racking up 20% gains probably went out and borrowed a sizeable chunk to really get the markets working for him, hence the leap from $1000 to £1000,000.

[bovverd]

An interesting subject -

The thing is if he had pretty much perfected this investment method, paper traded for a good length of time very successfully and was entirely confident of reducing the risk down to zero ie to not lose any money what would have been stopping PT getting a fair sized bank loan to get himself going?

This could possibly explain the gains he mentions but at the same time it might not be something he would want to be seeming to officially endorse in his book as the correct approach for us amateurs.

For me personally If I can double 5k or 10k and become skilled enough at this to not lose any money ie spotting the signs when to jump off of a stock and wait etc I will have no hesitation in scrapping my plans to spend 30k on an ever depreciating new car and will instead use the money to invest with.

In the UK if you purchase a 30k car it would be worth on average after one year around 20k. An insane waste of money. If I were to borrow the same 30k for investing my loan repayments would remain the same but I would have at least a chance of making the sum grow.

My theory is PT probably practised and perfected this investment method with $1000 and then once he'd mastered the art of not losing money and racking up 20% gains probably went out and borrowed a sizeable chunk to really get the markets working for him, hence the leap from $1000 to £1000,000.

It would have been silly of him to have only used £1000 to reach £1000,000 if he become skilled enough to realise huge % gains because he has eliminated a large amount of the risk by mastering this approach.

The better we become with this method, the more measured the risk becomes so the less likely we are to lose money. As soon as I know I am unlikely to lose money I will be brave enough to invest more and really push this in the hope of success.