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Old 03-30-2012, 10:49 PM   #101
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Originally Posted by TheKeck View Post
I made money on stocks today.
Ok, I have two for this:

1) SELL! SELL! SELL!

2) Somebody probably made $640 million on the lotto today.
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Old 03-30-2012, 11:13 PM   #102
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Ok, I have two for this:

1) SELL! SELL! SELL!

2) Somebody probably made $640 million on the lotto today.
Seriously, if anyone here won and is holding out on the rest of us, you need to share.

More specifically, you need to share with me.
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Old 03-30-2012, 11:22 PM   #103
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Quote:
Originally Posted by Farsight View Post
Ok, I have two for this:

1) SELL! SELL! SELL!

2) Somebody probably made $640 million on the lotto today.
Sigh. Tens of thousands of people made money on stocks today. Tens of thousands probably will tomorrow. Your chances of making money on a random stock, are, let's be ultra ultra ultra conservative here, better than 1 in 10? Let's make it 1 in 100 even. Okay, you're still millions of times more likely to come out ahead than the lottery.
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Old 03-30-2012, 11:30 PM   #104
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Hell, if you keep a well-diversivied portfolio, the odds of you consistently beating inflation are pretty good. Indeed, one of the reasons the Powers That Be like a very small positive inflation is that in encourages people to invest their money in one form or another, which keeps the economy moving.
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Old 03-30-2012, 11:42 PM   #105
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I've wanted to jump into the stock market for a while now, especially after taking this damn economics course.

But it's terrifying and scary and I don't know where to start.
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Old 03-30-2012, 11:49 PM   #106
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It just dawned on me: It's possible for no one to win.
Yeah, but a mathematician at a Georgia university calculated that there was a 94% chance of someone winning this time, given the sheer number of people playing.

The winning ticket was apparently sold in Maryland, by the way.

For me, it was worth the cost of the tickets not to have some nagging, silly "what if" feeling.

Now if I could just forget about all the amazing, fulfilling things I need money to do.
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Old 03-31-2012, 12:00 AM   #107
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God, rich people are fucking boring.
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Old 03-31-2012, 12:03 AM   #108
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And no shit, J. They're wasting a perfectly good castle.
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Old 03-31-2012, 12:06 AM   #109
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So I dropped $30 this afternoon. Wrote one set of five tickets with sets of over- and under-represented numbers and one that had my and my girlfriend's birthdays, my lucky number, and my age as the mega ball. The other 25 sets were all quick picks.

I grabbed a $10 prize from the one with meaningful numbers-- 02, 04, 05, 08, 15, M:23

If only I'd put my age twice... I'd have made another $140 off of it. C'est la vie.

Still, it was nice spending an afternoon thinking about the best strategy for handling the jackpot--annuity, of course (Texas makes you pick your payout strategy when you buy the tickets, which I guess is better, except if you use the vending machine, you're forced into lump-sum, the bastards).

I'd get a lawyer and an accountant immediately--indeed, maybe two independent sets to keep things in check. I'd probably take the bulk the first year's payment to spoil myself, but would otherwise set up a trust of some sort that made it difficult for me to directly withdraw funds--though not impossible, as there are always cases that warrant using any resources available. There would just have to be a mechanism for deciding whether my intended use is something like a medical emergency, and not "but I want that yacht over there!"

"Spoiling myself" would involve some combination of the following:
1) building myself an energy-neutral smart house somewhere (probably near Austin) with enough space for my eventual family. It may include a small bat cave. At the very least, my garage would be in the basement, with a door masked my a waterfall.

2) building a house for my parents, with similar cutting edge things in mind, but obviously built just for two and occasional guests.

3) buying/building a summer home in England.

4) custom-designing a really nice wedding ring set for my girlfriend, and funding a nice wedding for us. Neither of us want a huge ceremony anyway, but a really nice cozy ceremony without having to worry about cutting corners would be awesome.

5) funding graduate degrees at Oxford for myself and my new wife. We've been talking about the possibility of going there together in a couple years, and the only issue I really worry about is paying for it. It's easily $50k for a 1-year master's program after living expenses, and another $150k+ for the doctorate Jaci would want.

6) By this point, I'm probably nearing the end of that first several million dollars, but I'd eventually want to endow enough money to A&M to have a dorm named after me.

I'd then set about turning a 25-year annuity into an invested fund resembling a perpetuity as closely as possible: I'd decide on a reasonable salary for me (with terms to index against inflation and further increase slowly over the years, as I marry and have kids), as well as a pension for my parents so they can retire at the ripe age of 45. Reasonable in both cases would probably start upwards of $1mil/year, of course. I'd ensure a reasonable portion gets donated to various charities each year. I'd also make provisions for children's college education.

I'm honestly not sure if I'd quit working. I may leave my current employer in favor of independent developing or investing in start-ups, but I don't think I could leave computer science--as evidenced by "getting a higher degree" being on my top-priority list.

Furthermore, I don't think I could raise children in an environment where neither parent works at all. I'm not at all interested in creating a lineage of "old money". Like the Gates, I feel much more drawn to the idea of teaching my kids the value of a dollar and hard work, giving them a comfortable but unspoiled upbringing and ensuring they can afford whatever education they need, then letting them make their own way in the world.

The trust would have provisions to take care of my family members when I die, but not to the point of them being willfully unproductive. I'd probably have a fair portion, if not majority, of the trust being donated to charity with my passing. On the other hand, I'd want to make sure that real estate and other physical aspects are passed on to family without issue.
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Also, I wish everyone I didn't like in Real Life turned out to be Schnoogs too. That would bring a rather charming and hilarious symmetry to things.
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Plasma cannons are just tops. Stupid demons and their gay-ass hell-magic. lol.
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Old 03-31-2012, 12:30 AM   #110
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For those of you asking, multiple winners, one for sure in Maryland.
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Old 03-31-2012, 02:22 AM   #111
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Sigh. Tens of thousands of people made money on stocks today. Tens of thousands probably will tomorrow. Your chances of making money on a random stock, are, let's be ultra ultra ultra conservative here, better than 1 in 10? Let's make it 1 in 100 even. Okay, you're still millions of times more likely to come out ahead than the lottery.
Don't steal my "Sigh"!

Because I need to use it again.

Sigh.
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Old 03-31-2012, 04:50 AM   #112
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Hm I think next time it goes that high, they should just give every person in the US and Puerto Rico a million dollars each.
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Old 03-31-2012, 04:53 AM   #113
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Hm I think next time it goes that high, they should just give every person in the US and Puerto Rico a million dollars each.
Check your math.
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Old 03-31-2012, 05:01 AM   #114
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Check your math.
~315 million (US pop) and another 3 million people in Puerto Rico. But nobody needs more than a million dollars. Most everyone could pay off a lot of outstanding debts, we all get healthier and happier but we don't all move into mansions or buy fighter jets.

The rest goes to infrastructure and Medicare and whatever else!
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Old 03-31-2012, 05:10 AM   #115
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But 315 Million would only give 315 people a million each.
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Old 03-31-2012, 05:13 AM   #116
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But 315 Million would only give 315 people a million each.
Haha, yes. Yes, you are right.

Damn, foiled by numbers. Zeroes are hard.

Well next time it gets up in the billions then. Trillions?

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Old 03-31-2012, 05:27 AM   #117
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Haha, yes. Yes, you are right.

Damn, foiled by numbers. Zeroes are hard.

Well next time it gets up in the billions then. Trillions?
I use to have the same bad math until it clicked for me.
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Old 03-31-2012, 06:27 AM   #118
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They could give each of us a dollar... which we could use to buy a lottery ticket! It's foolproof!
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Old 03-31-2012, 06:37 AM   #119
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They could give each of us a dollar... which we could use to buy a lottery ticket! It's foolproof!
Brilliant!
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Old 03-31-2012, 06:45 AM   #120
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I spent $10 got three back. Oh well guess I'll have to go to work on Monday
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