Gonna be so many break throughs in the next 10 years that will mint millionaires. Question is which ones will have those break throughs.You aren't a kidding. It's either got to be a daily watch or a lock-it-away and forget about it. Otherwise you're going to need a LOT of Tums. Can't lie though - I like the high when I catch a 3-10 bagger
Retirement Targets
- Thread starter yowza
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I have a good chunk held at Schwab and I have had their people call and say hey we wondered if you want to sit down and talk. I am like nah, I am good.
When the day gets closer to taking distributions, I will sit with someone who is more expert on tax strategies. So much can change between now and then I don't even want to start that conversation. I want to do a lot of my own research first also.
When the day gets closer to taking distributions, I will sit with someone who is more expert on tax strategies. So much can change between now and then I don't even want to start that conversation. I want to do a lot of my own research first also.
Almost exact same scenario as me. Had to laugh when Schwab advisors wanted me to rebalance my portfolio overweight on AAPL with a cost basis of about $26/share.
Check out the planning tools at New Retirement; I'm using that to research and formulate my own plan before approaching the specialists. Watching a lot of videos on the FIRE movement and am really liking a 3-bucket strategy...
I think it was $400. We collected all of our financial info (he had a list of things to provide) and he reviewed everything before our meeting, then we spent about an hour and a half discussing it over Zoom. He provided a detailed list of action items we discussed a couple of days later.
At first I thought that $ amount seemed high, but then considering how much you would pay someone at 1% of your assets for advice, I realized it was a bargain.
When I started my own financial education process, I read a quote that by the time you educate yourself enough to pick a good financial adviser, you know enough to do it yourself. It is true.
AI is going to destroy the financial consultant world.
These guys aren't giving info that can't be largely found on the net. Maybe some high end folks can carve a niche, but AI - Robo can put together a portfolio
NW +22.94%
401k +22.35% (self directed)
DC Plan +22.87% (self directed)
IRAs +9.07% (advisor)
I may pull the money out of the managed accounts, as they definitely didn't save me any money when the market was down last year. I'm also not that worried about the ups/downs, so the big swings don't bother me.
401k +22.35% (self directed)
DC Plan +22.87% (self directed)
IRAs +9.07% (advisor)
I may pull the money out of the managed accounts, as they definitely didn't save me any money when the market was down last year. I'm also not that worried about the ups/downs, so the big swings don't bother me.
Agree 100%. I didn’t know he did this. It sounds awesome. I’ve listened to him on several podcasts.
Did you feel like he was prepared and gave you custom, nuanced feedback? Or was it canned?
I listen to Rick on boglehead stuff. Sounds like a year wait and an increase in price
rickferri.com
Portfolio Review - Rick Ferri, CFA
rickferri.com
It seems 90% of what you read/hear is just people parroting the same stuff. And then it doesn’t seem they can tell you why (which to me means they just read it the same way you or I are doing). Again, the times I could have used an advisor, they seem to be lacking knowledge or advice. I’m not interested in handing over thousands per year for somebodies crystal ball asset allocation. The comment above about a guy that actually discussed tax strategies and gave an outline about how to do things seems way better than anything I’ve ever encountered.
Thanks, just signed up to be on his wait list. Currently 1 year but I'm in no rush.
He had already reviewed our asset allocations and survey prior to the meeting, so I felt he was prepared. Also we discussed things specific to rental real estate, risk tolerance and our income, so I felt it was customized.
I am 70, and no plans to fully retire. Have reduced amount I farmed by half and stopped livestock 10 years ago. I enjoy being outside and can take time off whenever I want.
Just curious what you look at in regard to the smaller biotechs? Is there a specific website you like to go to in order to sift through looking for more promising ones?You aren't a kidding. It's either got to be a daily watch or a lock-it-away and forget about it. Otherwise you're going to need a LOT of Tums. Can't lie though - I like the high when I catch a 3-10 bagger
Grew up on a small farm decades ago. Miss the smell of the freshly turned soil in the spring (although I know now it's all no till), the smell of fresh cut hay and the crisp fall smell during the harvest.
Many times I'm piggy-backing off a free Seeking Alpha article from folks who publish the articles professionally - Bret Jensen (Biotech Forum); O'Neil Trader; Avisol Capital Partners are some examples of authors I follow. From there, if the company sounds interesting it's time for some DD, which includes checking the 'pulse of the people' on a site like Stocktwits (where I'm also introduced to new companies from x-pollinating posters I'm familiar with) and reading into the corporate presentations/SEC filings.
Normally, what I'm looking for are:
1a) Age of company and drugs on the market - if the company has been trying to get their first drug approved for the last decade, I question the ability of management to actually cross the finish line; usually if the company has nothing on the market after 6-8 years it falls further down my list, 10+ years and I don't pursue any further
1b) High unmet need (or strong differentiation in drug performance - e.g. efficacy, lower severity side-effects, dosing regimen or method (IV, sub-c, oral, etc.)) - NASH, Alzheimer's, LN, MS, various rare cancers are the focus of many of the companies I am invested in
2) Upcoming catalysts such as an upcoming trial data readout, PDUFA date, or if I see an approved drug with ramping sales - typically, I avoid anything which the lead drug candidate isn't at least through ph.2 (though I occasionally play a ph.2 readout catalyst). I've also played some companies which crash after getting a CRL which is navigable (usually a manufacturing facility issue) and have the cash to resolve the issue in the necessary extra time.
3) Market cap - I'm not overly interested in companies with market caps >$5B and normally the ones I get in are $250M - $1B at the time I buy-in.
4) Debt/Cash/Burn - I've had some poor outcomes with companies which are saddled with debt (even if it's $50M) so if at all possible I try to avoid those situations; cash is king for a developmental biotech and if the burn rate is showing me less than 6Q of cash left then I know either debt or an offering are coming and I'll usually wait and see - if/when those issues are resolved (usually an offering leading to a decline in share price) then that is when I consider buying in
5) Pipeline - Is there one? If there is, does it seem aligned or is this company throwing darts at a wall hoping to catch lightning in a bottle
6) Reason for investing - am I playing a catalyst in which case a 20%-50% gain is all I'm hoping to capture in a short timeframe, or do I think the company really is on the cutting edge of a breakthrough where I'll retain a position (i.e. not sell or sell calls against) for the 'long haul'
I'm no expert. I started trying to find my method circa 2013 when I graduated from ISU and had some money from my first job to start investing.
I'm still trying to dial in my methods and have learned many a 'hard-lesson' (mostly management really does make/break a company, and I still don't have a great handle on separating the wheat from the chaff - other than some to stay far, far away from). But I've found it effective to sell covered calls against my positions in the 'downtime' between catalysts, also getting better at trimming when price appreciates which lends well with the covered call strategy because then it is out of my hands.
The only trouble with the CC strategy is it limits my upside - ex. sold some $12 TGTX covered calls last October (SP was in the $6's) I will double my money on those shares in ~3.5 months, but the upside has been closer to 4x over that same time. Similarly, I sold CCs against PRVB bio for a year plus and shortly after I re-upped them in the $15 range the company was bought out for more than $24. Again, I did alright (~$10 cost basis) but I limited my upside which really makes a difference when I swing and miss on a stock (ex. HEPA, SGYP, AKAO). I'd say the biggest lesson though is the 'know why you invested' I've had a number of 'flips' which I decided to stay long with as the SP just kept climbing, but then I didn't jump off the ride in time and lost significant paper-gains. If you have tickers in mind, send me a DM, always looking for opportunities and happy to share my thoughts (as 'grain of salty' as they may be)
No sir.
......................."back in my day" lots still plowed at times and disked and even dragged.
In north Iowa there are still a decent amount of plows but the vertical tillage and turbo tills are replacing them. About as black as a plow but not the hard pan at 8-12 inches.
