How to get rich in America - Trading-Lab

ChaosTheory · #1 10-09-2007, 01:47 PM

This, my friends, tells us the best way to strike it big is still through brick and mortar businesses rather than by frenetically buying and selling someone else's companies.

How to Get Rich in America
by Josh Hyatt
Monday, October 1, 2007provided byCNNMoney.com

Meet a dozen entrepreneurs (and a dozen success stories) -- they're proof that you don't need a lot of money to make a go of it, but you do have to be smart about how you invest your energy.

http://finance.yahoo.com/career-work...A3w.deeY1O7sMF

Leth · #2 10-15-2007, 03:27 PM

if you treat trading like a business...whats the difference between trading and a brick and mortor?

ChaosTheory · #3 10-17-2007, 01:01 PM

in my opinion, by trading you are not really creating any value in terms of new products or services. you are just buying and selling someone else's companies. depending on you how look at it, by constantly buying and selling stocks or any other financial instrument, traders provide liquidity and market depth to financial markets. that, can be seen as providing a service.

don't get me wrong, I'm not against trading as I'm a trader too. It's just that trading, even if you treat it as a business, will never really be one. at leat not a traditional one

Leth · #4 10-17-2007, 03:02 PM

a few things involved with running a typical trading business (trading for clients)

a. education (not cheap)
b. business startup costs, licenses, fees, etc.
c. use of sales to find clients
d. an accountant that is paid a salary to inorder keep track of everyones bottom line.
e. assistants are paid a salary for performing everyday functions.
f. an office to lease, phones, fax machine, copy machine, file cabinants..etc.
g. paying corporate taxes; paying income taxes.
h. having a corporate attorney on retainer.
i. creating a valuable service by helping people with thier retirement via trading for outsized returns; instead of pension funds and 401ks (which actually make money by investing in companies and unfortunately accrue less interest over time due to less risk).
j. helping to create liquidity
k. actual trading (which is really the easy part of running your business)

other than prostitution, trading is one of the oldest institutions around.
for example: somewhere during the course of time, the probabilites are high that a caveman once said, "i trade you shiny rock for night in cave with woman")

"men deal with one another, not as masters and slaves, but as traders, by free, voluntary exchange to mutual benefit." all traditional businesses are in esscense a trading business. if you create a product or a service, you trade it for money, in turn, money is needed to survive (unless your a hippie). if corporations didnt have investors (money, banks, silent partners, etc.), they couldn't have started in the first place let alone survive..and they definately couldn't provide jobs to the public. creating/operating a business (big or small) that uses employees for leverage to provide a service or product with the goal of making more money; is the same thing as creating a trading business that uses money for leverage to make more money. <---- massive run on sentence.

just a perspective

Iacotel · #5 10-18-2007, 01:11 PM

very good and inspiring article.

ChaosTheory · #6 10-23-2007, 05:02 PM

Quote:

Originally Posted by Leth

a few things involved with running a typical trading business (trading for clients)

when I say trading is not really a business, I refer to trading per se which, if you think about it, does not create any product and/or service. trading for clients, on the other hand, DOES create value: the SERVICE you are offering your clients.

stocktrader · #7 10-24-2007, 03:23 PM

actually, chaostheory, it's always been like that. Some people keep on saying trading is really a business. I don't think it really is, as you as a trader are not really creating any value. Rather, you are buying and selling someone else's value. My long term goal is to actually start businesses.

Leth · #8 10-24-2007, 04:25 PM

when people think of the term "traditional business", they are more than likely thinking about businesses which are considerably more industrious, laborious, and/or creative in nature. your personal definition of a "traditional business" all depends on how your sub-conscience has been programmed by your conscience mind. for example: my sub-conscience view, which has been reasoned with and programmed by my conscience mind, is that all businesses are considered traditional unless they are non-legitimate (illegal) where your main intention is to purposefully avoid reporting your taxes.* even so, some illegal businesses are considered traditional by those that practice them (e.g. moon shiners and pimps).

*my perspective does not imply that using various tax shelters and/or looking for legitimate ways to save money on your taxes are wrong (e.g. overseas bank accounts, real estate, charity, etc.); in fact, i encourage it.

rookie · #9 10-26-2007, 02:20 PM

traditional business is what makes (smart) people rich.

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#1 10-09-2007, 01:47 PM
ChaosTheory Member Join Date: Jul 2007 Posts: 44	How to get rich in America This, my friends, tells us the best way to strike it big is still through brick and mortar businesses rather than by frenetically buying and selling someone else's companies. How to Get Rich in America by Josh Hyatt Monday, October 1, 2007provided byCNNMoney.com Meet a dozen entrepreneurs (and a dozen success stories) -- they're proof that you don't need a lot of money to make a go of it, but you do have to be smart about how you invest your energy. http://finance.yahoo.com/career-work...A3w.deeY1O7sMF

#2 10-15-2007, 03:27 PM
Leth Super Moderator Join Date: Oct 2007 Posts: 621	if you treat trading like a business...whats the difference between trading and a brick and mortor? Last edited by Leth : 10-16-2007 at 06:54 PM.

#3 10-17-2007, 01:01 PM
ChaosTheory Member Join Date: Jul 2007 Posts: 44	in my opinion, by trading you are not really creating any value in terms of new products or services. you are just buying and selling someone else's companies. depending on you how look at it, by constantly buying and selling stocks or any other financial instrument, traders provide liquidity and market depth to financial markets. that, can be seen as providing a service. don't get me wrong, I'm not against trading as I'm a trader too. It's just that trading, even if you treat it as a business, will never really be one. at leat not a traditional one

#4 10-17-2007, 03:02 PM
Leth Super Moderator Join Date: Oct 2007 Posts: 621	a few things involved with running a typical trading business (trading for clients) a. education (not cheap) b. business startup costs, licenses, fees, etc. c. use of sales to find clients d. an accountant that is paid a salary to inorder keep track of everyones bottom line. e. assistants are paid a salary for performing everyday functions. f. an office to lease, phones, fax machine, copy machine, file cabinants..etc. g. paying corporate taxes; paying income taxes. h. having a corporate attorney on retainer. i. creating a valuable service by helping people with thier retirement via trading for outsized returns; instead of pension funds and 401ks (which actually make money by investing in companies and unfortunately accrue less interest over time due to less risk). j. helping to create liquidity k. actual trading (which is really the easy part of running your business) other than prostitution, trading is one of the oldest institutions around. for example: somewhere during the course of time, the probabilites are high that a caveman once said, "i trade you shiny rock for night in cave with woman") "men deal with one another, not as masters and slaves, but as traders, by free, voluntary exchange to mutual benefit." all traditional businesses are in esscense a trading business. if you create a product or a service, you trade it for money, in turn, money is needed to survive (unless your a hippie). if corporations didnt have investors (money, banks, silent partners, etc.), they couldn't have started in the first place let alone survive..and they definately couldn't provide jobs to the public. creating/operating a business (big or small) that uses employees for leverage to provide a service or product with the goal of making more money; is the same thing as creating a trading business that uses money for leverage to make more money. <---- massive run on sentence. just a perspective Last edited by Leth : 10-22-2007 at 08:00 PM.

#5 10-18-2007, 01:11 PM
Iacotel Italian Trader Join Date: May 2007 Location: Roma Posts: 43	very good and inspiring article.

#7 10-24-2007, 03:23 PM
stocktrader Junior Member Join Date: Jun 2007 Posts: 20	actually, chaostheory, it's always been like that. Some people keep on saying trading is really a business. I don't think it really is, as you as a trader are not really creating any value. Rather, you are buying and selling someone else's value. My long term goal is to actually start businesses.

#8 10-24-2007, 04:25 PM
Leth Super Moderator Join Date: Oct 2007 Posts: 621	when people think of the term "traditional business", they are more than likely thinking about businesses which are considerably more industrious, laborious, and/or creative in nature. your personal definition of a "traditional business" all depends on how your sub-conscience has been programmed by your conscience mind. for example: my sub-conscience view, which has been reasoned with and programmed by my conscience mind, is that all businesses are considered traditional unless they are non-legitimate (illegal) where your main intention is to purposefully avoid reporting your taxes.* even so, some illegal businesses are considered traditional by those that practice them (e.g. moon shiners and pimps). my perspective does not imply that using various tax shelters and/or looking for legitimate ways to save money on your taxes are wrong (e.g. overseas bank accounts, real estate, charity, etc.); in fact, i encourage it. Last edited by Leth : 10-24-2007 at 06:52 PM.*

#9 10-26-2007, 02:20 PM
rookie Member Join Date: Jul 2007 Posts: 86	traditional business is what makes (smart) people rich.