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I don't think Charlie Munger would ever be offer that advice

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Bunn-Wackett

23,960 Posts.

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20/05/24

20:13

Post #: 73921905
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Originally posted by nursery: ↑

I'd go the other way and say the first $1000 is the one to aim at. Most people can manage to find $1,000. $300,000 is usually not available for most people. Then you have to make a choice in a spec stock to trade. The company doesn't have to be successful, just volatile. Then you trade the pips.

When it has doubled you split it into two and progress to owning and trading ten stocks.

The increase in portfolio value can be exponential. The ten stocks I trade are; DRE LYC SYA IVZ KP2 AVL THB STX PLL LKE AGY VMS TTM.

It's best to trade a minimum of $1,200 each time as brokerage is a problem for anything smaller. Penny stocks are also best as often one or two pips can be profitable. Check out the weekly charts on the stocks you choose. Set up to anticipate company announcements.

Experiment with a "ghost" portfolio at first and get the feeling.

Be prepared to pay capital gains tax. It can be a killer. I got caught for over $300,000 one year. You can be classified by the tax department as a trader and the profit is not then a capital gain but as "income".

That was my way of being a "Master strategist".

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I don't think Charlie Munger would ever be offer that advice
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