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- /biz/ infographic
- "how do i get rich /biz/" "i have $300 what do"
- That is the whole point of business, to make money, it is pointless to ask, it is like asking /ck/ "how do i cook".
- There are 100s of different ways to make money, you must look at your skills and decide which area you are most likely to succeed in, research it a little and start a thread with lots of interesting points and questions for people to talk about.
- Scams
- there are a lot of shills and scammers out there, here on /biz/ we genuinely want to make it big on the stock market or business, not indulge in pipe dreams, so avoiding scams is important
- pump and dump scams: taking a penny stock or a cryptocurrency and making outlandish claims about how it is going to the moon to get others to bump up the price
- multi-level marketing scheme: People are brainwashed into thinking they can make a lot of money buying overpriced energy drinks, health foods, knives and such and try to sell them or enlist other people as "distributors".
- pyramid/ponzi schemes: In a pyramid scheme new members must pay a fee and people make money recruiting other members, in a ponzi scheme people are promised returns on their investment but the only money going into the pot comes from recuiting new members
- Gambling: the stock market can be used as a platform for gambling or to lure people into scams, people with gambling addictions should avoid trading on the stock market for the months needed for such a psychological problem to heal. FOREX scams and Timothy Sykes spring to mind.
- http://en.wikipedia.org/wiki/Foreign_exchange_fraud
- bing: huffington post learning from timothy sykes
- http://www.huffingtonpost.com/dan-solin/learning-from-timothy-syk_b_4998799.html
- The stock market
- It is very difficult to beat the market, often "hot stock tips" are already priced in, for instance if someone predicts a stock will go from $10 to $15 by the time most people have figured this out the stock may already be over $15. In this way you are competing with other investors to make predictions about the stock market.
- Risk is as important as returns. Even if the information you have indicates the price will go up to $15 there are always things you could not possibly know which might crop up unexpectedly. Rather than put all your eggs in one basket you ought to diversify your investments, a large proportion of your investments should be in low risk stocks and funds.
- Investors can only valuate a company and the price of its stock to a certain degree of accuracy, for instance a conservative estimate of the price might be $13 and a liberal estimate might be $18, within this range the price will move randomly in a "random walk".
- There are various different kinds of financial intruments and investments besides stocks. options buy writes, commodities, forex bla bla
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