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Inconsistant Ownage Device
Registered Member #59
Joined: Sat Dec 10 2005, 06:12PMPosts: 1058 |
I know this is really not the place to talk about this, but I'm bored and curious. So heres my situation. I have $17,000 sitting in a Morgan Stanely Mutual Fund account, all is well and dandy but it really isnt making me any returns, I keep looking at my statements, and it really hasnt made jack. It is also not very accessable, seeing as I have to sell off stocks and options and wait several days before my money is usable. I'm debating taking my money out and managing it myself. For now I was thinking of just dumping it in either my Orange Savings account (3.4% interest) an Orange CD (3.65% for 6 months) untill I find a better place for it. I was also going to take 1-2 grand and put it into a mixture of blue chip and penny stocks. I've been looking into Forex but I'm really not comfortable with the market to risk my money there. So, what do you guys think? And no, I'm not going to go spend it on cheap hookers, drugs, buttsecks, or cheesecake. So dont bother. Hmm found a bank with 6% interest CD's, not bad. Edited Wed Feb 20 2008, 07:09PM |
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| *Kill Time* |
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Registered Member #543
Joined: Sun Jan 21 2007, 06:33AMPosts: 497 |
Reinvesting it into stocks that actually will get you profits is highly risky, but if it works out then your taking steps to becoming a potential millionare. But other than that you should definitely move it into a bank account where you would get some money since you have a significant amount. | ||
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Inconsistant Ownage Device
Registered Member #59
Joined: Sat Dec 10 2005, 06:12PM Posts: 1058 |
I have a feeling it would be slightly less risky then putting it into stocks that dont get me a profit  Thats the beauty of penny stocks, its not easy to find a stock that goes from $20 to $60, but its a lot easier to find one that goes from 10 cents to $3. Other then that I have a couple I'm watching that will hopefully go skyhigh pretty soon 
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| Buddha |
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Boodz
Registered Member #528
Joined: Tue Jan 02 2007, 11:41PMPosts: 1085 |
Have you taken into consideration RASPBERRY cheesecake? I hear it's quite delicious. | ||
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Inconsistant Ownage Device
Registered Member #59
Joined: Sat Dec 10 2005, 06:12PM Posts: 1058 |
Its Butterfinger Cheesecake or nothing. | ||
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| NoSkill |
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Sir
Registered Member #457
Joined: Tue Oct 10 2006, 01:13PMPosts: 2628 |
How long has it been in there. I'd definitely keep it in funds. Make sure you're dollar cost averaging into it every month aslo. My advice, foreign markets or bullion funds right now. Then, if the economy recovers move it back into some capital appreciation fund. There's so many different types of funds, it really depends what you're trying to accomplish and how much risk you're willing to take. Omega pink sheets and OTCBB are not where to "invest" your money. I've lost over $6,000 in OTCBB stocks. That's just gambling and odds are you're going to lose. If you want to gamble just go play blackjack, you're more likely to win. |
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Inconsistant Ownage Device
Registered Member #59
Joined: Sat Dec 10 2005, 06:12PM Posts: 1058 |
I didnt say I was going to invest much, and if I had lost $6000 I think I would take my money elsewhere, or change my trading tactics Its been in there close to 10 years I believe. Who ever was managing it fucked up at some point or Id have close to $35,000 this was all before my time however  I had also thought of gold and commodities, we shall see, either that or bet it all on black
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| drunkirishmafia |
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Registered Member #289
Joined: Sat Jun 10 2006, 05:17AMPosts: 1543 |
i wouldn't abandon mutual funds entirely...if you do a little researching they have mutual funds with 6% to even about 9% return. | ||
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| O_Mega |
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Inconsistant Ownage Device
Registered Member #59
Joined: Sat Dec 10 2005, 06:12PM Posts: 1058 |
I didnt say Im abandoning them, just this one. If I find a decent one I'd be willing to use it. | ||
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| Rusty |
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FTS Server Op
Registered Member #159
Joined: Wed Mar 01 2006, 06:33PMPosts: 2682 |
if you were to lose 6k in the stocks, it would be stupid to sell. The one trader rule you ever learn is to never sell at a loss. there is a good chance it will break even unless you bought really high, then you're a dumbass. Besides, money sucks. I have about $50 to my name, and I need to afford a new car and apartment this summer. |
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