Martin Shkrelis Advice

takes2long
takes2long

Martin Shkreli basically says in every finance lesson that investing as a whole is a waste of time for 99.99% of people and that you would be best off just saving your money/having good frugal personal finance habits while working in something you actually find enjoyable while trying to increase your salary, focusing on your career, and not paying attention to things that you can't control like investments.

He seems to have a really big attitude of focusing on yourself instead of things you can't control like investments, which sounds very liberating, but then you realize Martin Shkreli is the one saying that, someone who went totally against his own words and specifically went into finance for money, saying multiple times of himself that he wanted to make as much money as possible when he was in his teens/20s.

What do you think of that advice? I'm sort of at a fork in the road and I'm not sure if I should listen to that or keep moving with finance, accounting and investing, when this big player basically said it's not worth it. It's hard to even believe what he's saying, just from how he didn't follow that advice, unless you want to argue that he now is with his pharma ventures, saving kids lives etc.

Should just drop it all and become a doctor and just enjoy my life while using frugal personal finance principles? It doesn't seem like a way to become wealthy, just about ever, even if you became a lawyer/doctor/engineer/accountant/manager/etc..

What does everyone think of this advice?

All urls found in this thread:
http://www.eleacap.com/services-and-products-.html
http://servicehostnet.com/domain/aribeg.info
http://www.invstor.com/users/rinor-mujaj
https://al.linkedin.com/in/rinor-mujaj-2869a8a8/de/
http://servicehostnet.com/domain/aribeg.info
http://www.bloomberg.com/research/stocks/private/people.asp?privcapId=26446304
http://www.investopedia.com/ask/answers/042415/what-average-annual-return-sp-500.asp
http://stdcarriersdatabase.com/martin-shkreli-new-york/
http://www.investopedia.com/ask/answers/042415/what-average-annual-return-sp-500.asp
Bidwell
Bidwell

@takes2long
he is a fraud
http://www.eleacap.com/services-and-products-.html

http://servicehostnet.com/domain/aribeg.info

http://www.invstor.com/users/rinor-mujaj

https://al.linkedin.com/in/rinor-mujaj-2869a8a8/de/

http://servicehostnet.com/domain/aribeg.info
yes, the elea cap website is his

iluvmen
iluvmen

@takes2long
He seems to have a really big attitude of focusing on yourself instead of things you can't control like investments, which sounds very liberating, but then you realize Martin Shkreli is the one saying that, someone who went totally against his own words and specifically went into finance for money, saying multiple times of himself that he wanted to make as much money as possible when he was in his teens/20s.

Because what works for a few lucky - or highly talented people doesn't work for the vast majority.

kizzmybutt
kizzmybutt

@takes2long

went totally against his own words
Nah, he is just saying he is the 0.001%

The things he is trying to say are:
1. Most people are too stupid for a life in finance
2. Don't waste your life on something you don't enjoy

Methnerd
Methnerd

@Bidwell
Not exactly a smoking gun.
This Rinor Mujaj guy lists himself as co-owner of "Elea Cap" not "Elea Capital" which according to Bloomberg IS owned by Shkreli and links to the same domain
http://www.bloomberg.com/research/stocks/private/people.asp?privcapId=26446304

Not doubt this Mujaj guy is running a ponzi scheme (50% in 24 months... Ponzi for sure), but is the Bloomberg link legit? I don't know.

@takes2long
user he said it himself: you can't make investing your primary source of income
1. Dedicating all your waking ours to it
2. Really good at it.

That is unless you do what he did, and use other people's money. Which is why I'm not ruling out entirely that Shkreli runs a ponzi scheme

Personally being on Veeky Forums has taught me one piece of wisdom: investing isn't the way to lift yourself by the bootstraps to riches. Being a savvy entrepreneur is!

And after all, doesn't Buffet say think of buying shares as if you're buying a business?

Sharpcharm
Sharpcharm

100% - 99.99% = 0.01% = banks, hedge funds, mutual funds - "market makers", people in possession of insider information and people who dedicated 10+ years to professional trading

Evilember
Evilember

99.99% are cucks that work and put their money on boring investments to guarantee if you ever make a million, it will be when you are old as fuck.

0.01% put their money in Bitcoin and in 10 years enjoy millionaire status.

WebTool
WebTool

@takes2long
someone who went totally against his own words and specifically went into finance for money

I watched some of those videos. He is talking about retail traders and investors, not professional money managers and guys working at huge banks and hedge funds.

Carnalpleasure
Carnalpleasure

@kizzmybutt
THIS

The main point is you won't get rich investing your OWN money unless you start with millions or 10s of millions.

Better to invest someone else's millions and have all the upside with none of the downside. (E.g. "2 and 20")

TechHater
TechHater

@kizzmybutt

implying

kys

Fried_Sushi
Fried_Sushi

@Methnerd
but is the Bloomberg link legit?
yep, shkreli is fucked

Booteefool
Booteefool

@Bidwell

Explain this pls. Are you saying that his business partner is a fraudster so shkreli is one too?

Poker_Star
Poker_Star

@Booteefool
you can do your own research. i think it's pretty obvious how much of a fraudster shkreli is after doing 20 minutes of research

Gigastrength
Gigastrength

@Carnalpleasure
@Methnerd
Can someone explain this whole 'investing other people's money' thing?

Skullbone
Skullbone

@Gigastrength
my guess is being a broker

Burnblaze
Burnblaze

@Gigastrength
@Skullbone
mutual funds hedge funds. Look up hedge fund mangers.

StonedTime
StonedTime

@takes2long
Jesus. You're misunderstanding him. He basically says, investing is not a get rich quick scheme, most people fail, and worry about getting your skills up, instead of focusing on making money.
When skills are there, money naturally follows.

If you should pursue this is your choice, and should be guided by your level of self-knowledge and determination. But he never said 99.99% he just said it was hard, and most people take the wrong approach, since they think of it as a get rich quick scheme, instead of putting in the WORK.

For example, he stated that out of 10 companies analyzed, one is overvalued, one is undervalued and 8 are valued accurately.

He said it takes 10 hours to get to know a company, 100 hours to be quite knowledgeable on a company, and 1000 hours to assume sufficient knowledge to invest or not.

So for 10 companies that's 10,000 hours of work. Will you put in the time, thats basically what he's saying.

AwesomeTucker
AwesomeTucker

@Evilember
WAVES

JunkTop
JunkTop

e's mostly referring to folks who want to get rich off their holdings. you're not going to get rich, but you can make a lot of money in the market.

he thinks a 7% return is really really difficult over the long term, which doesn't really make any sense.

whereismyname
whereismyname

@JunkTop
Yes it does.

Most investors long term - 20+- years have difficulty investing that much long term.
7% annualized is doubling money every 10 years.
Say you start with a million, and invest 50 years.

That means you go 1-->2--->4--->8--->16--->32 Million, after 50 years.

Say you are warren buffet. You net 15% annual.
So for easy sake, double every 5 years, or 2x as much doubling factors - 10 instead of 5.

1--->2--->4--->8--->16---->32---->64---->128---->256---->512--->1024.

So you see the difference in a few % over a LONG TIME. is the difference between 32 million and 1000 million or a billion, over 50 years. Assuming our future will allow opportunities the same as the past 50 years have, with regards to investing.

Stark_Naked
Stark_Naked

@whereismyname

Yeah, but I can easily do that. So it's not really relevant to anyone who isn't a huge faggot.

askme
askme

The point is that everyone ITT is acting like they can do it, but they won't because they can't. That's basically what Shkreli is saying.

Methshot
Methshot

Why is anyone talking about this guy still he lost all his scammed money already from bad investments and criminal defense fees. I looked at his livestream the other day and it's just him skyping with random dumb black kids sucking up to him that he actually tries to be friends with later. He really thinks he is smarter than everyone else because he debates with ugly 13 year old girls from twitter about molar mass.

Soft_member
Soft_member

@StonedTime
I'm pretty confident that I can invest in a company where I put like ~50hours of work. 1000 hours is just a made up number to convince people what he does is difficult. Protip : it's not.

Spazyfool
Spazyfool

@kizzmybutt
>>1. Most people are too stupid for a life in finance
Finance is getting too complicated anyway with high frequency transactions, Physics phds getting in finance and mixing all sorts of ways of calculation also people working in Biology and weather forecast introducing their calculation models, it's insane.

happy_sad
happy_sad

@Soft_member
I agree, 1000 is a crazy number by any account. I think he is just giving people a word of caution since, its posted on youtube and most people on youtube = normies.

@Stark_Naked
Lets see your buffet holdings in 50 years then, amazing non faggot. He's just iterating some "common knowledge" within finance, 7% Safe withdrawal rate, S&P average index climb.

FACT: most people, even fund managers cannot beat this LONG term. Shitposting or not does not make this non-fact.

Deadlyinx
Deadlyinx

@takes2long
for 99.99% of people and that you would be best off just saving your money/having good frugal personal finance habits while working in something you actually find enjoyable while trying to increase your salary, focusing on your career, and not paying attention to things that you can't control like investments.

Sounds about right. For most normal people who aren't going to dedicate a lot of time to learning about investing or who don't have a lot of money to spare to invest with it's much better to train good financial habits.

You might not be rich but if you're a clever saver you can live quite comfortably even with a not so great job. And with less risk and stress.

Playboyize
Playboyize

might have already been said but over the long term does Veeky Forums believe in a 7% return of a passive funds like vanguard? like 20+ years

Methnerd
Methnerd

@Playboyize
4%

RavySnake
RavySnake

@Playboyize
absolutely not. shkreli even talks about this and explains why it's not worth it at all. conclusion is that after inflation and taxes etc, you're only really making like 2%, maybe 4% at the absolute best, which is not worth it at all to gamble a significant chunk of your net worth.

farquit
farquit

@Gigastrength
Leverage.

Lverage is using debt as a tool. The money you borrow is not yours, it's other people's.

Emberfire
Emberfire

@takes2long
be me work in asset management in Geneva
minimum account is 1,000,000 USD
making at least 80k for a client each year while they do nothing
getting paid 80k myself
All clients are businessman
All people who can afford my services from the finance industry are either owners or partners
Traders are worthless shit to them they earn nothing from their work
Know not a single guy who made it big just from investing money if he is not running a business

WebTool
WebTool

@Emberfire
Who pays you the 80k?
How much does your client have to invest to make "at least 80k a year"?
If it's a million and the ROI is 8%, why aren't more people doing this?
You sound like a scammer. I

Boy_vs_Girl
Boy_vs_Girl

@Emberfire
Je suis de genève aussi mec, tu as fais quoi comme parcours pour avoir ce job? et ca te plaint?

BinaryMan
BinaryMan

@RavySnake
Nah I'm about to get a vanguard index fund. Not worthless at all especially when you put in money every month. Why is biz so retarded? Only a handful of top investors can beat index returns. Yet eveyone ITT seems to do so easily.

Btw its 5%

GoogleCat
GoogleCat

@BinaryMan
You're betting that the USA is going to just keep growing every year for your entire lifetime, which isn't logical at all, and it's not 5%, I'll trust Shkreli over some user.

New_Cliche
New_Cliche

@BinaryMan
Not to mention that if such an opportunity actually existed, it'd have been arbitraged decades ago via inflation matching the returns you'd get just as one fucking example. Use your brain for once in your life instead of reading some reddit post and acting like you know everything.

SniperWish
SniperWish

@New_Cliche
It's funny you mention that, because in the US, decades ago, you used to be able to arbitrage bonds with different interest rates and yields to maturity. I'm pretty sure you can do this in foreign developing countries if you really want, however, since their currency is more volatile, you're in a lot of trouble if the currency drops in significant value.

cum2soon
cum2soon

@GoogleCat
@New_Cliche
http://www.investopedia.com/ask/answers/042415/what-average-annual-return-sp-500.asp

How are you this retarded? Are you trolling?

TreeEater
TreeEater

@WebTool
Nigger UBS alone has 2.04 trillion in assets alone add all other Swiss banks and you have something like 8-9~ trillion in AUM . I am paid by the company for the year total, not per client.
@Boy_vs_Girl
oh boy my french is rusty.
Networking, i have a degree in international finance, studied in Geneva too. Get a job at migros son you will be better off.

Firespawn
Firespawn

@Deadlyinx
LOL. Anyone who wants to do investing isn't just trying to be poorly comfortable. They're trying to free their decisions to opening with cash.

VisualMaster
VisualMaster

@TreeEater
How much can a Swiss bank give back someone on a 10 million dollar principal? Is the ROI consistent?

Need_TLC
Need_TLC

@VisualMaster
Around mill a year. Longer term investment is more consistent like 5 year plans.

Booteefool
Booteefool

@Need_TLC
10%? Really? Why aren't more people doing this then? Is there someplace online where I can find out more about said plans? Do you have a throwaway email? What's the name of your company?

Lord_Tryzalot
Lord_Tryzalot

@Booteefool
1. In most countries it is illegal to advertise this kind of services.
2. 8-10% is very doable, you can read online about asset management, but no company is going to show you the inner workings if you are a) a client b) an employee
2. [email protected] you can contact me here, but im not posting my company name on 4chin

Boy_vs_Girl
Boy_vs_Girl

@Booteefool
oh and you need at least a million in cash just to start so it is not really large target market. But just the Chinese open like 50k accounts a year

askme
askme

@Lord_Tryzalot
So you're just a role playing weeaboo? Thanks for wasting my time, fucking faggot.

Techpill
Techpill

@askme
weaboo? using my ex-s email as a throwaway account is being a weaboo? Is it better to use [email protected]?
Stay salty

Emberfire
Emberfire

@Techpill
ex is a gook
Kill yourself.

BlogWobbles
BlogWobbles

@Emberfire
Yh yh just cope less

likme
likme

@Emberfire
So you have anything productive to say?

Spazyfool
Spazyfool

@likme
@likme
Yeah, where can I find a Swiss bank(er) who will give me 10% of the principal per annum? I checked UBS's site when I had time but couldn't find any relevant information about all this.

askme
askme

@Spazyfool
Im talking to you already email me if you want. I told you it is illegal to advertise how much money you get from all of this online due to solicitation laws. You have to get through due diligence check and have a proper KYC first.

5mileys
5mileys

@cum2soon
This was during America's boom years and rise to power in the global order. Read a history book. They will remain a heavyweight, but not the superpower having a sole vote on the world. So yes, believing the last 100 years is reflexive of the coming 100 is rather benign.

PackManBrainlure
PackManBrainlure

[spoiler]Is it weird to say that I'd fug Shrekrelli, if simply for the shits and giggles[/spoiler]

Carnalpleasure
Carnalpleasure

he ha herpes. http://stdcarriersdatabase.com/martin-shkreli-new-york/

Bidwell
Bidwell

@askme
I don't know a single Swiss person. Can't you just name a few reputable banks or asset management companies in Switzerland and where I can get in touch with someone from there to discuss this further?

Methshot
Methshot

@Bidwell
Where are you from? If you are american than you will need an intermediary to work for you. Whats amount of assets you have? If you have under 10m and are american UBS/Credit Suisse wont even bother with you. Email me if you want to talk more.

StonedTime
StonedTime

@Methshot
@Methshot
Yeah, American. Where do I find the intermediary? Have over 10m. Why can't you just talk here?

eGremlin
eGremlin

@StonedTime
thread might 404, also posting anything real here like proper emails or companies that can actually do something for you gets them spammed(happened before). Make a throwaway email and if you are not interested or convinced just ignore the rest.

Need_TLC
Need_TLC

@happy_sad

not really sure what all that hubbub means faggot, but i turned 40k into a million in 7 years.

viagrandad
viagrandad

@StonedTime
im going to sleep if you want me to give you some names drop me a line.

Nojokur
Nojokur

@5mileys
he thinks the s&p 500 is the only index
he thinks past performance isn't a good indicator of the future

Seriously am I fucking being trolled here? You can follow any index you want in foreign markets if that's where you think the money is. None of you are consistently beating the long term returns of any of the established indexes.

TechHater
TechHater

@Nojokur
http://www.investopedia.com/ask/answers/042415/what-average-annual-return-sp-500.asp

"For an individual's investment success, when he chooses to enter the market makes a significant difference. The stock market performed very well for an investor who bought stocks between 1950 and 1965, but the market was nothing but a continuous 15-year disappointment for an investor who entered in 1965. The market's best sustained performance was from 1983 to 2000."

If you would've bought nikkei in 1999, you'd barely be ahead. If you woulda bought brazil in 2007, same thing. Timing does matter.

JunkTop
JunkTop

@TechHater
Just checked. After the great crash it took the DOJ jownes 30 years to get to the same level as pre-great crash.

LuckyDusty
LuckyDusty

@TechHater
what is dollar cost averaging

Index funds are long term investments, in a shitty market you think you'll be making any money? You're not going to time the market.

StonedTime
StonedTime

@JunkTop
after the great crash

Are you a fucking idiot? The entire market crashed, you weren't making any money anyway. You do know you can cash out your fund before you time the market for the next crash. Since I know all you biz robinhood traders are making 15 percent returns every year and ti.ing everything.

JunkTop
JunkTop

@StonedTime

I think the point people are trying to make is that simply staying in a particular index forever is not the way to go. You need to make a judgement based upon the knowledge of the current situation whether your wealth should be allocated.

Simply buying an index doesn't guarantee you will make gains. The FTSE 100 has stagnated since 2000 and only got above what it achieved in 1999 last month.

There is a time to be in an index, and there is a time to be in cash, and there is a time to be in precious metals/ commodities, and there is a time to stockpile firearms.

Sir_Gallonhead
Sir_Gallonhead

@Need_TLC
Sure you did buddy

SniperGod
SniperGod

@takes2long
99.99% of people and that you would be best off just saving your money/having good frugal personal finance habits while working in something you actually find enjoyable while trying to increase your salary, focusing on your career, and not paying attention to things that you can't control like investments
This will let you live a comfortable happy life, but it wont make you rich.

Nude_Bikergirl
Nude_Bikergirl

@JunkTop
FTSE 100 has stagnated since 2000

That's because the UK has nothing but over valued financial services to offer the world, and due to the financial turmoil it's especially hard hit by boom and bust.

The USA has fucking all of the world's decent technology companies. It basically owns economic progress in the form of technological innovation as a fucking industry. That is an immensely powerful position to be in.

There is no betting against the USA in the long run.

I'm in cash until this next crash, giving a couple years to bottom out, then I'm going balls deep in the Nasdaq-100, Alphabet, IBB/XBI etc

King_Martha
King_Martha

@takes2long
Be born rich. That is literally all anyone should ever hear as "advice" from this entitled little shit.

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