After reading stabbers profile i think he would have contributed to making a stack of millionaires himself.
Ya gotta hang with the ppl ya wanna become!
My motto is hang with millionaires, some of the wisdoms' gotta rub off...
My advice 18 months ago about hedging against the USD when it was 95 cents AUD netted me a cool 2 years income when it plummeted down to 60 cents 5 months later..
Risky yes, but the down side risk was the lowest in History.
Some ppl work hard all their lives, I've worked hard for half my life, so I don't need to work anymore.. ask my kiting mates, they'll tell you!
And yes, I do some pretty stupid things as you can clearly see by my avatar picture, But I'm happy!..
Risky yes..
That might be the tiny little downside of that strategy.
There ain't no free lunch.
Stabber,
I could well be mistaken, but I have a vague recollection that a big win in lotto was part of the history to start things off on the road to being a millionaire. Is that the case?
My experience of millionaires is that some of them are wise, and indeed I'm all for soaking that up, but plenty of them are also unscrupulous turds who are quite happy to screw other people and the planet to feather their nests.
If good ideas can reduce working hours and tedium then great, and if the people who had the ideas profit from them, I'm all for that too.
If, on the other hand, the plan is to get rich the unimaginative way, by cutting corners on social and environmental responsibility and leaving others to clean up the mess, then these are not qualities I want to be rubbing up against.
As the US dollar crashed and currency traders profited, hard working people were having their homes repossessed and then sold for a pittance. Profiting from this is not wise, it is opportunistic. It's legal, sure, but is it ethical?
Sounds like you could teach "Working in Organisations" Dojo. I like your train of thought.
I don't really get what this thread is about keilani. What does your original post mean?
ps to contribute anyway, I'm with dojo and rowdy on the whole business etc ethics thing. Businesses should serve the public not just the ceo's etc. I would never invest in anything without thourorly checking it was likely to be an ethical enterprise.. yet I still shop and use multi nationals (coles, BP, Banks etc) whenever I short on time or lazy.
Is that what this thread is about?? if so, I've always wondered where the profits from sales of those che guevara shirts go does anyone know? I was just thinking about it again today 'cause I seen this awesome shirt that said "'revolution is only a t shirt purchase away" hahaha
Ethics of hedging aside, Australian lotteries give a significant proportion of their income to community groups, lets say around 30%. So you could say, if stabber won X million dollars in lottery, then the community benefited by 0.3X million dollars.
You could also say that it is due to the laws governing lottery, and the lottery bodies themselves, and in no way related to a winner's ethics. You could also say that the existence of hedging instruments to generate huge profits from community losses is unethical, and not the people who legally use them, and I believe that's why a lot of people are saying the laws should be reformed.
I also think that hedging, options etc. are so complicated that the ethics involved in them aren't as black and white as they may appear to some. Who knows - if it had been a European housing crisis and someone had bet on the EUR/AUD exchange the same way, the world market might not have retreated back to the currency where the problems first came from. I would be hesitant to question ethics until I could see a clear link between the establishment of the hedging instrument and the sub-prime mortgage crisis. Not saying it isn't there, but it certainly hasn't been made clear to me yet.
In the meantime, if Mr. stabber did in fact win the lottery, then a whole heap of community groups are better off for that, one could say.
Whether mr.Stabber won the lottery or not is irrelevant, they still would have donated the money no matter who won, thus this doesn't make the winner of a lottery an ethical person.
The lottery is just a redistribution of funds, the money doesn't appear from thin air.
For some small community groups to benefit from the proceeds of lottery there are a lot of other people, family's and community's suffering from members wasting their money gambling on lottery tickets.
You said they donate 0.3, and a winner gains 0.7 of Xmillion dollars, therefore 0.7 amount of Xmillion dollars is being taken from people in other community areas that very likely could have used that money to better effect.
Ok so not everyone is super in need of the money they spend on lottery tickets, but my guess would be at least half (or over) of the people that buy lottery tickets really should have used that money to better effect.
So does the positives of lottery groups donating to the community outweigh the negatives of these groups existing in the first place? My guess is no. Leading me to believe that Lottery groups are neither ethical nor good for the community.
You could also say that they donate money from the lottery because they are pretty much forced to, or if they didn't there would be a backlash. Doing something out of fear of the consequences of not doing said something, doesn't make that group ethical, even if the act itself is considered ethical.
spot on tightlines,more to do with tossers !! not millionaires.....
no not a stalker just accidently hit his name on a post.
When I won lotto, I gave the majority away to a few local organisations who I knew needed a helping hand. Annonimously!
And what has the sub-prime problem got to do with making a fortune hedging?
Absolutely nothing....Sub -prime problems arose by stupid idiots borrowing way more than they could possibly pay back(Just because they could)...what a Flucked up logic...
Boo friggin hoo to those Morons! And millions of morons there are.
BTW now I can by all the houses I want in USA and keep them for 10 years and make 10 times my investment.....
But thats just by the by.
Most people are more concerned about cigarettes going up $2.50 a pack tonight.
I make my decisions wisely and with calculated efforts.
Live life, Love life...smile and have fun guys...
Stabber, out of curiosity, does winning lotto make life more complicated? I mean, you see those clowns who are arguing over lotto winnings and people that come out of the woodwork to be your friend. I have heard of huge disputes between family members because they didn't get any money or it was unevenly shared etc etc.
Sure, I bet it gives you freedom and options (you know, to get that sex change you've always wanted...hence the ball grabbing )...but I can't see it being 100% positive.
Admittedly, I would love to win money, and 100% of those in this forum would also but I don't think I would use my money (if it was enough to set you up for life) to maker more money. At the end of run, you are remembered by what you've done and who you are, not what you own. So if I died knowing my kids and their kids were set, I'd be dying happy.
f@#k you guys need to get a life!
stabber has a pretty good outlook on life, and is making the most of it.
And who else here has donated large amounts to charity? i reckon most people when having a large win become greedy not sharing anonymously to orginizations that deserve it.
Good on ya mate, more wind to you!
)...but I can't see it being 100% positive.
.
