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Originally Posted by oregonwoodsmoke
I guess anyone that bought into that idea brought about their own disaster.
There is no effortless way to turn a little money into a lot of money. Successful investors spend a lot of time on research. They subscribe to information services. They hire smart people to work for them. They understand exactly what they are investing in and how it works.
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There are only two places where you can make multiple dollars on a dollar without any work - Wall St. and the casino. There were plenty of studies that confirmed what everyone else should already know - that professional investors or money managers are no more successful than luck or the average Joe Schmoe in making money on the stock market. Swinging for the fences is that - swinging for the fences.
The only time more science is involved and it is not only luck are the long-term investors, esp. mathematical managers (not quants). Not many of those.
The above applies to the situation where you are starting out with not much money (your average Joe). In the case where you have plenty to play with, it gets easier.