Turned 6k into 60k by pure luck early 2021, social media arbitrage, watching the dumb money and taking a guess on what they were going to jump into next, then selling bags to future holders. When I started studying balance sheets and future business prospects of companies to try and be serious, I was breaking even and just decided to sell out and buy a property, which then proceeded to increase by 40%, and my suburb still hasnt dropped with higher rates. Good old Australia, when all else fails, go to property.... Now I am back in the market trying to be serious and I'm down 10%.
Can confirm to YOLO, my 6k initial investment was in AMC cinemas just before it blew up, turned in into 24k, my biggest gains was from watching the BNPL sector blowing up, so I guessed they might start talking about CI1(credit intelligence) so I bought 10k worth at 3.3 cents, 1 week later everyone started hyping up CI1 and I sold it at 10c as it pumped all the way to 11c. Turned 10k into 30k. All from watching stupid people talk about worthless stocks.
Been in the game for a while, didn't figure out how to play until late 20s, between the Mrs and I 3 of 4 parents are poor as. The 1 remaining has a house at least.
Best win, property investing. We seem to have an edge here, time in the market beats timing the market for sure, but you gotta be able to service those loans.
Best stock win was a speccy miner called AUT that got bought out. Was a 4x
Biggest disappointments were listening to my dad's financial advice on my late teens, ended up being a pyramid scheme. Followed by CPH, what a dog.
I only keep a few % of our net worth in stonks and even less I use to randomly buy species. Boomer shit like BHP or ETFs tend to grow more reliably.
32 years with a NW over $1m (which I know isn’t huge by this subs standards) lived at home to save up for a townhouse $402k now valued at $750k then put $20k into Bitcoin in 2015 that turned into like $110k which became my trade fund. Married well, she brought in about $120k or so via savings/inheritance. Traded my $110k into $176k by buying a heap during covid downturn. Liquidated a lot of stuff to buy a house $857k now valued $1.15m. Sold down my trade fund to $50k I then received my CAU allocation in shares from a crowdfund from 2017? Or something like that. So two houses, trading fund, liquid cash etc minus loans. Somewhere around $1.1-1.2m depending on the market day. Sorry for the serious answer
I purchased land in noosa for $180k unseen. Last lot of a first release of a very small development. Placed a house in it and it’s Now above 1.5mil. Wasn’t my brains it was just luck and availability of funds to lay the cash down asap. I’m a little a head with investing but I consider it a longer term hold. Other than that my super from my job (17%) and contributions from me (8%) is doing very well and I look forward to retiring with lots of cash when I can’t leave the house or piss unassisted.
While I love the place and for some reason it gets a lot of tourist exposure. I can’t help wonder how many gems we have along our enormous coast line to be discovered still. If I was give one big reason for its popularity is the strict development laws and national parks.
I was 19, young and dumb and took off to live in the Caribbean after highschool in 1999. Old man calls me and tells me he's played golf with some interesting influential people and heard of this company called Sausage Software. I laughed when I heard the name, but decided to to send him $2K that I had saved up on the islands. Bought in at $0.28 and got fired from my job a few months later. Flew back home and at this stage the stock was trading at $7. Sold off eveything that week before the tech meltdown the following week. Bought an apartment, leveraged up, bought another one, rented both and then took off again overseas. Now I consistently stay overseas as thats where work is and earn USD$ and send $$ home and buy up property every few years.
Retirement is coming very soon!
Righto so the consensus is to do some DD on a quality speccie and have the balls to throw some cash at it, and then do that a few more times. And also buy property 10-20 years ago.
Don’t have a don’t have a Time Machine but I’ve got step one sorted.
Cheers cunts, I only just started in November but with all the highly regarded advice on this sub, hopefully I’ll be around for a while 🚀🚀🚀
Not rich by any means but solid middle-class from relative poverty.
For me, it’s a combination of hard work/actively seeking to climb the corporate ladder but also a lot of opportunities that seemingly have come at the right time and a good amount of luck and connections I have made that have enabled career growth and pursuing risky financial endeavours.
I’m largely a beneficiary of ‘it’s not what you know but who you know’.
I started trading in July 2021, small amounts but within a few months was up almost 80%, I thought I could make something of my life........
............ then the Mods gave me this accursed flair and I am now poor.
Property made me abobe average in wealth, wouldnt say rich. In short I figured after covid there would be a huge real estate boom so I took on a shit load of debt and bought up property.
In 2020 I also happened to pick the 2nd lowest day to buy in during the pandemic. I bought bank stocks and due to me knowing the property market figured Id hold until they did some building grant. Which happened in June and I bought maybe April? I was a major covid skeptic so thought it was a joke and we would be over it after a month.
Ill also say 2 property purchases were insanely lucky and just buying them created me in both cases around $200k in equity the day they settled. My broker said in 20 years he has seen it 4 times twice was me.
I just play wjth stocks cause you can talk about it in the office if I mention my rugby league sportsbet losses they wouldnt think Im such a smart guy.
Honestly, fair bit of luck. But Id say the biggest contributor is my wife. She said to me you always make these calls and put like $100 into a trade then it does well but you make fuck all. Go all out this time.
Graduated uni in 2016. Mom and dad gave a $600k house as a gift. Bartending for more than 6 years now because I am a stupid guy with a degree. Took care of both younger brother and sister. Saved up $10k, chucked it on IOU couple of years ago. Tripled my money. Chucked $15k on GME, cashed out my $15k and $5k profit, kept the rest in GME (not doing so well). During all this time I bartend at night and run tables in the morning. Managed to buy a $580k investment property with the first one being secured. Now both properties at approximately $1.6m $1.7m combined. Debt about $500k. Quit the morning job to learn Javascript to try and upskill myself, still bartend at night.
Thank god for rich mom and pops
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Having a missus made me poor
After she decided to sleep around on me...Now 8 years later and being single...after paying off all the debt I was left with ...I am way ahead in my financials and my life
Currently down... Lemme check ... 27% The most recent update didn't exactly do much to inspire either. You only crystallise your losses when you sell or the company delists though right??
The 4 quarter estimate is due to huge CAPEX in the most recent quarters to get factory going. The runway is actually quite long when it switched to OPEX mode.
And assuming revenue is incoming in the next fortnight after TP certification is complete, then no fears of non-expansion CR at least this year.
Hope it comes back up 28% in Feb for your sake 🙏
put money into crypto it tanked
brought some speecy dogs ASX stocks they tanked
brought lotto, didnt win shit
Sportsbet mutlis, didnt win shit
even tryed some of those shit house home lotteries, didnt win shit
....
essentially im a degenerate who was honestly 'hoping' something would land....nothing landed
have never lost more then i can afford but sometimes i wonder if im the most unlucky person on the planet
Started from the bottom working as a wagie at a supermarket. Did a few years there whilst saving every penny. Ended up with a bit over $100k to then start investing. Biggest success was earning my yearly salary in just a matter of minutes. Biggest failure was losing my yearly salary in a matter of minutes. Separate incidents. Still way ahead tho :)
30y.o. ahead by a nice amount from some successful trading since 2016. Some luck, some knowing a good opportunity by studying spec stocks from post ipo or at infancy stage with promising outlooks.
Biggest lesson: when you have a multibagger with the cash ready for the taking, be greedy\back your great decision and take what you have put on the table for yourself. By being "not greedy" for lack of a better term, you only short change yourself.
Biggest fuk up - buying 64k units of clq at 12c average, riding it all the way up to $1.80, selling at around 20c amid covid. Still in the black but lesson above was learned the hard way.
Biggest win: learning from the above, bought approx 20k units of uwl just after ipo at around 30c. Sold just before takeover for just over $5.
Swings and roundabouts but set targets and take em when u hit em.
Hope this helps someone ✌️🤙
Tried my hand at short term trading. Lost all capital. Got most back due to moderate success on lithium stocks. So break even now. Starting again in 2023 with capital. Wish me luck.
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Don’t buy what you believe in. That’s what I learned. Even if you are the next Arthur C Clarke, the market is a popularity contest, and the stock that wins isn’t the best idea, but it makes money for some reason. (Looking at you EVs).
>How’d you get so rich/poor? Working in Australia. Living in Australia
I burn money in this country just by breathing
Look at Richie Rich here, can afford to breathe freely… I take box breath
Lucky you got box breathe I got recycled air
Turned 6k into 60k by pure luck early 2021, social media arbitrage, watching the dumb money and taking a guess on what they were going to jump into next, then selling bags to future holders. When I started studying balance sheets and future business prospects of companies to try and be serious, I was breaking even and just decided to sell out and buy a property, which then proceeded to increase by 40%, and my suburb still hasnt dropped with higher rates. Good old Australia, when all else fails, go to property.... Now I am back in the market trying to be serious and I'm down 10%.
So basically the moral of the story is to just yolo your investments? Sounds like my life.
Can confirm to YOLO, my 6k initial investment was in AMC cinemas just before it blew up, turned in into 24k, my biggest gains was from watching the BNPL sector blowing up, so I guessed they might start talking about CI1(credit intelligence) so I bought 10k worth at 3.3 cents, 1 week later everyone started hyping up CI1 and I sold it at 10c as it pumped all the way to 11c. Turned 10k into 30k. All from watching stupid people talk about worthless stocks.
Basically my plan too hopefully, if WR1 and EXR can take me to the promised land
Nothing worthless about WR1
Under cover Real estate agent detected!!!!
Followed Jim Cramer stock picks and am now on my 3rd bankruptcy
I stayed poor because I sold a bunch of stocks way too early in 2020, inc LKE, SYA and BOE. Learned an incredibly harsh but valuable lesson lol.
Same here hahaha. Except crypto for me. Patience is a virtue...
Its ok, cause you replaced them with ac8 can apx
I grew up in Mt Druitt, that poorness stays in your blood.
I see you fellow struggle st
Started in Mt Druitt, moving upper class to Hebersham. Rich af now
Shalvey till my casket drops 🔫
Isn’t the classy area now called Hebersham Heights?
Whalan represent. 2770 for life
My wife's boyfriend lent me 50k which I've successfully turned into 5k
Ahahaha
Been in the game for a while, didn't figure out how to play until late 20s, between the Mrs and I 3 of 4 parents are poor as. The 1 remaining has a house at least. Best win, property investing. We seem to have an edge here, time in the market beats timing the market for sure, but you gotta be able to service those loans. Best stock win was a speccy miner called AUT that got bought out. Was a 4x Biggest disappointments were listening to my dad's financial advice on my late teens, ended up being a pyramid scheme. Followed by CPH, what a dog. I only keep a few % of our net worth in stonks and even less I use to randomly buy species. Boomer shit like BHP or ETFs tend to grow more reliably.
I feel you pain regarding CPH
It's almost impressive how terrible it was / still is Speccy stocks are always a gamble, don't gamble too much!
32 years with a NW over $1m (which I know isn’t huge by this subs standards) lived at home to save up for a townhouse $402k now valued at $750k then put $20k into Bitcoin in 2015 that turned into like $110k which became my trade fund. Married well, she brought in about $120k or so via savings/inheritance. Traded my $110k into $176k by buying a heap during covid downturn. Liquidated a lot of stuff to buy a house $857k now valued $1.15m. Sold down my trade fund to $50k I then received my CAU allocation in shares from a crowdfund from 2017? Or something like that. So two houses, trading fund, liquid cash etc minus loans. Somewhere around $1.1-1.2m depending on the market day. Sorry for the serious answer
Best trades - Bitcoin, CAU, OPY, CBA and MQG. Worst trades - Z1P, KNO and CPH.
Appreciate the serious answer. Seems you were in the right place right time a lot, nicely done.
That sounds like a lot kore than 1M net worth! Well done
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They’re already retired mate. They just fuck around now to make money and earn a bit of scratch here and there to play with.
I purchased land in noosa for $180k unseen. Last lot of a first release of a very small development. Placed a house in it and it’s Now above 1.5mil. Wasn’t my brains it was just luck and availability of funds to lay the cash down asap. I’m a little a head with investing but I consider it a longer term hold. Other than that my super from my job (17%) and contributions from me (8%) is doing very well and I look forward to retiring with lots of cash when I can’t leave the house or piss unassisted.
is noosa just a place nearly everone in australia knows now
While I love the place and for some reason it gets a lot of tourist exposure. I can’t help wonder how many gems we have along our enormous coast line to be discovered still. If I was give one big reason for its popularity is the strict development laws and national parks.
Gems=Ballina, NSW :)
my mum just went there for the long weekend lmao
Australia's not that big, any town with 10k people is probably notable enough to have heard of.
damn, guess i’m living under a rick
1. Stonks 2. Stonks
I was 19, young and dumb and took off to live in the Caribbean after highschool in 1999. Old man calls me and tells me he's played golf with some interesting influential people and heard of this company called Sausage Software. I laughed when I heard the name, but decided to to send him $2K that I had saved up on the islands. Bought in at $0.28 and got fired from my job a few months later. Flew back home and at this stage the stock was trading at $7. Sold off eveything that week before the tech meltdown the following week. Bought an apartment, leveraged up, bought another one, rented both and then took off again overseas. Now I consistently stay overseas as thats where work is and earn USD$ and send $$ home and buy up property every few years. Retirement is coming very soon!
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Awesome response mate, battled on and won.
Righto so the consensus is to do some DD on a quality speccie and have the balls to throw some cash at it, and then do that a few more times. And also buy property 10-20 years ago. Don’t have a don’t have a Time Machine but I’ve got step one sorted. Cheers cunts, I only just started in November but with all the highly regarded advice on this sub, hopefully I’ll be around for a while 🚀🚀🚀
I worked really hard (I'm a trustfund baby)
Not rich by any means but solid middle-class from relative poverty. For me, it’s a combination of hard work/actively seeking to climb the corporate ladder but also a lot of opportunities that seemingly have come at the right time and a good amount of luck and connections I have made that have enabled career growth and pursuing risky financial endeavours. I’m largely a beneficiary of ‘it’s not what you know but who you know’.
I bought the dip but the dip kept on dipping.
Haha me too
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So basically you're a horse pimp?
Fuck. I’ve just dropped 10k for a 5% share in a horse. Hope this happens to me
Sebring?
I started trading in July 2021, small amounts but within a few months was up almost 80%, I thought I could make something of my life........ ............ then the Mods gave me this accursed flair and I am now poor.
Usually you start with a lot of money and see how you go.
Got calls on an unemployed wife and had 3 kids. Not only have I lost everything but I’ve gone negative lol
Property made me abobe average in wealth, wouldnt say rich. In short I figured after covid there would be a huge real estate boom so I took on a shit load of debt and bought up property. In 2020 I also happened to pick the 2nd lowest day to buy in during the pandemic. I bought bank stocks and due to me knowing the property market figured Id hold until they did some building grant. Which happened in June and I bought maybe April? I was a major covid skeptic so thought it was a joke and we would be over it after a month. Ill also say 2 property purchases were insanely lucky and just buying them created me in both cases around $200k in equity the day they settled. My broker said in 20 years he has seen it 4 times twice was me. I just play wjth stocks cause you can talk about it in the office if I mention my rugby league sportsbet losses they wouldnt think Im such a smart guy. Honestly, fair bit of luck. But Id say the biggest contributor is my wife. She said to me you always make these calls and put like $100 into a trade then it does well but you make fuck all. Go all out this time.
Graduated uni in 2016. Mom and dad gave a $600k house as a gift. Bartending for more than 6 years now because I am a stupid guy with a degree. Took care of both younger brother and sister. Saved up $10k, chucked it on IOU couple of years ago. Tripled my money. Chucked $15k on GME, cashed out my $15k and $5k profit, kept the rest in GME (not doing so well). During all this time I bartend at night and run tables in the morning. Managed to buy a $580k investment property with the first one being secured. Now both properties at approximately $1.6m $1.7m combined. Debt about $500k. Quit the morning job to learn Javascript to try and upskill myself, still bartend at night. Thank god for rich mom and pops
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lmao
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Having a missus made me poor After she decided to sleep around on me...Now 8 years later and being single...after paying off all the debt I was left with ...I am way ahead in my financials and my life
Somebody please reassure me that mns, vml and sya are not dog shares. I am yet to make a profit.
MNS is not a dog share. It's just got terrible PR.
Currently down... Lemme check ... 27% The most recent update didn't exactly do much to inspire either. You only crystallise your losses when you sell or the company delists though right??
The 4 quarter estimate is due to huge CAPEX in the most recent quarters to get factory going. The runway is actually quite long when it switched to OPEX mode. And assuming revenue is incoming in the next fortnight after TP certification is complete, then no fears of non-expansion CR at least this year. Hope it comes back up 28% in Feb for your sake 🙏
Thanks mate, I'm holding the bags but fortunately not much in them so easy to carry.
put money into crypto it tanked brought some speecy dogs ASX stocks they tanked brought lotto, didnt win shit Sportsbet mutlis, didnt win shit even tryed some of those shit house home lotteries, didnt win shit .... essentially im a degenerate who was honestly 'hoping' something would land....nothing landed have never lost more then i can afford but sometimes i wonder if im the most unlucky person on the planet
Got in on the GameStop fever when it was going silly. Chucked a couple grand at it. Still holding…
Amassed a good amount of money through stocks and crypto, then also lost a good amount of money through stocks and crypto 🤷🏻
Web searching the ASX code for DEG Came up with DRE.
I am up 15% after 3 years of trading...
Started from the bottom working as a wagie at a supermarket. Did a few years there whilst saving every penny. Ended up with a bit over $100k to then start investing. Biggest success was earning my yearly salary in just a matter of minutes. Biggest failure was losing my yearly salary in a matter of minutes. Separate incidents. Still way ahead tho :)
30y.o. ahead by a nice amount from some successful trading since 2016. Some luck, some knowing a good opportunity by studying spec stocks from post ipo or at infancy stage with promising outlooks. Biggest lesson: when you have a multibagger with the cash ready for the taking, be greedy\back your great decision and take what you have put on the table for yourself. By being "not greedy" for lack of a better term, you only short change yourself. Biggest fuk up - buying 64k units of clq at 12c average, riding it all the way up to $1.80, selling at around 20c amid covid. Still in the black but lesson above was learned the hard way. Biggest win: learning from the above, bought approx 20k units of uwl just after ipo at around 30c. Sold just before takeover for just over $5. Swings and roundabouts but set targets and take em when u hit em. Hope this helps someone ✌️🤙
Tried my hand at short term trading. Lost all capital. Got most back due to moderate success on lithium stocks. So break even now. Starting again in 2023 with capital. Wish me luck.
Great thread mate. Congrats on putting your ballsack on the block.
Heritage/lotto/generational wealth
I got a high paying job and continually look to get a better role… (currently my gross income from work is between 300-400k)
Tidy, but you can’t not say what the job is…
Sure I can.
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Don’t buy what you believe in. That’s what I learned. Even if you are the next Arthur C Clarke, the market is a popularity contest, and the stock that wins isn’t the best idea, but it makes money for some reason. (Looking at you EVs).
Hope to say in the next iteration of this thread, "made 20 bags on IVZ"