Is graduating at 29 to old?

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redsox
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Re: Is graduating at 29 to old?

Postby redsox » Tue Oct 08, 2013 1:46 pm

typ3 wrote:You don't need to know more about them than the market. The market / banks / funds etc. all rely on analysts for information / predictions about companies. Most of the market is imperfect and is irrational and mostly takes short positions. I am long in all my positions. You only need to be faster to the right conclusion than 51% of people to make a return in the market.

I invest on the side and spend most of my time nightly analyzing public / private eq companies with a group of friends who are all analysts/associates in hedges/AAM's (5-20b AUM funds).

Capital gains = compound interest. The idea of compound interest is that you put your capital to use and as you make gains on your capital you use it to acquire things that give you more returns. I don't know how this could be confusing.


The idea of compound interest is that you lend somebody money, they pay you interest, and then you lend the interest. Gains on an equity stake aren't interest. It's as simple as that.

In terms of your idea of what it takes to succeed in the stock market picking individual stocks...I don't really think it's worth trying to convince you that you're wrong. I don't think I'd be able to. Just remember this: every time you decide to buy stock, someone else is deciding to sell it to you. If you don't know who he is and why he is selling, that should scare you.

pocket herc
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Re: Is graduating at 29 to old?

Postby pocket herc » Tue Oct 08, 2013 1:51 pm

I just love that someone sincerely cited JDU's clique theory for authority. Thanks for that. Also, while there are those careers that require a quick start, the vast majority build their career over decades, and a difference of several years will be of little significance. Also, if you are talented and hard working, you can find your way. Law school debt sure sucks though, no doubt.

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ManoftheHour
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Re: Is graduating at 29 to old?

Postby ManoftheHour » Tue Oct 08, 2013 2:06 pm

redsox wrote:
typ3 wrote:You don't need to know more about them than the market. The market / banks / funds etc. all rely on analysts for information / predictions about companies. Most of the market is imperfect and is irrational and mostly takes short positions. I am long in all my positions. You only need to be faster to the right conclusion than 51% of people to make a return in the market.

I invest on the side and spend most of my time nightly analyzing public / private eq companies with a group of friends who are all analysts/associates in hedges/AAM's (5-20b AUM funds).

Capital gains = compound interest. The idea of compound interest is that you put your capital to use and as you make gains on your capital you use it to acquire things that give you more returns. I don't know how this could be confusing.


The idea of compound interest is that you lend somebody money, they pay you interest, and then you lend the interest. Gains on an equity stake aren't interest. It's as simple as that.

In terms of your idea of what it takes to succeed in the stock market picking individual stocks...I don't really think it's worth trying to convince you that you're wrong. I don't think I'd be able to. Just remember this: every time you decide to buy stock, someone else is deciding to sell it to you. If you don't know who he is and why he is selling, that should scare you.


I think if you've worked in an industry for years and understand it (and the market) pretty thoroughly, you can make an educated guess, buy a stock, and have a good chance of profiting.

Short positions are TTT.

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typ3
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Re: Is graduating at 29 to old?

Postby typ3 » Tue Oct 08, 2013 2:26 pm

redsox wrote:
typ3 wrote:You don't need to know more about them than the market. The market / banks / funds etc. all rely on analysts for information / predictions about companies. Most of the market is imperfect and is irrational and mostly takes short positions. I am long in all my positions. You only need to be faster to the right conclusion than 51% of people to make a return in the market.

I invest on the side and spend most of my time nightly analyzing public / private eq companies with a group of friends who are all analysts/associates in hedges/AAM's (5-20b AUM funds).

Capital gains = compound interest. The idea of compound interest is that you put your capital to use and as you make gains on your capital you use it to acquire things that give you more returns. I don't know how this could be confusing.


The idea of compound interest is that you lend somebody money, they pay you interest, and then you lend the interest. Gains on an equity stake aren't interest. It's as simple as that.

In terms of your idea of what it takes to succeed in the stock market picking individual stocks...I don't really think it's worth trying to convince you that you're wrong. I don't think I'd be able to. Just remember this: every time you decide to buy stock, someone else is deciding to sell it to you. If you don't know who he is and why he is selling, that should scare you.


I forget this is a law forum and we need to be specific. My comments should be read as:

Compounding returns on capital.

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UVAIce
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Re: Is graduating at 29 to old?

Postby UVAIce » Tue Oct 08, 2013 2:38 pm

I think the problem that you make, and so many others do as well, is assuming that most law students actually have capital that they can put into something. The reality is that for many people the only investment they can make is education, because no one else is willing to lend them the money to go and do something.

I've been investing and making money on the side of school since I left the military and started going to school. I don't think that's going to stop when I'm working at a law firm; if anything it will be the exact opposite.

Regardless, you have a twisted view on life if you think that someone not making six figures at 30 is a life fail. I know very few people that make that much money, but I admittedly come from the Midwest where a $50K salary is actually pretty good. Not to mention that salary is not everything.

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IAFG
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Re: Is graduating at 29 to old?

Postby IAFG » Tue Oct 08, 2013 2:41 pm

UVAIce wrote:
I've been investing and making money on the side of school since I left the military and started going to school. I don't think that's going to stop when I'm working at a law firm; if anything it will be the exact opposite.


Enjoy getting restricted-list-pwnt

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Holly Golightly
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Re: Is graduating at 29 to old?

Postby Holly Golightly » Tue Oct 08, 2013 2:41 pm

UVAIce wrote:I think the problem that you make, and so many others do as well, is assuming that most law students actually have capital that they can put into something. The reality is that for many people the only investment they can make is education, because no one else is willing to lend them the money to go and do something.

I've been investing and making money on the side of school since I left the military and started going to school. I don't think that's going to stop when I'm working at a law firm; if anything it will be the exact opposite.

Regardless, you have a twisted view on life if you think that someone not making six figures at 30 is a life fail. I know very few people that make that much money, but I admittedly come from the Midwest where a $50K salary is actually pretty good. Not to mention that salary is not everything.

Clearly you just don't have your priorities straight if you don't think that the ultimate goal for every person should be making biglaw salary by 30. LAW SCHOOL IS AWFUL, EVERYONE RUN AWAY! JDU TELLS THE TRUF!

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typ3
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Re: Is graduating at 29 to old?

Postby typ3 » Tue Oct 08, 2013 4:27 pm

UVAIce wrote:I think the problem that you make, and so many others do as well, is assuming that most law students actually have capital that they can put into something. The reality is that for many people the only investment they can make is education, because no one else is willing to lend them the money to go and do something.

I've been investing and making money on the side of school since I left the military and started going to school. I don't think that's going to stop when I'm working at a law firm; if anything it will be the exact opposite.

Regardless, you have a twisted view on life if you think that someone not making six figures at 30 is a life fail. I know very few people that make that much money, but I admittedly come from the Midwest where a $50K salary is actually pretty good. Not to mention that salary is not everything.


"What is the chief end of man?–to get rich. In what way?–dishonestly if we can; honestly if we must."

I didn't say people not making six figures at 30 makes the people bad people, it just means they are going to end up on the long tail of the bell curve in life especially ITE of super haves and have nots.

I am from the Midwest in one of the lowest COL states. 50k is good, but there are a lot of ways to make way more for people who are willing to work.

I don't think it's unreasonable to assume that someone at 30 should be making 100k per year with investments + salary in order to be financially on track.

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redsox
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Re: Is graduating at 29 to old?

Postby redsox » Tue Oct 08, 2013 4:29 pm

typ3 wrote:I don't think it's unreasonable to assume that someone at 30 should be making 100k per year with investments + salary in order to be financially on track.


On track for what?

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typ3
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Re: Is graduating at 29 to old?

Postby typ3 » Tue Oct 08, 2013 4:31 pm

redsox wrote:
typ3 wrote:I don't think it's unreasonable to assume that someone at 30 should be making 100k per year with investments + salary in order to be financially on track.


On track for what?


To be able to retire in decency, own a home, have a kid or two, and not work until you're on your death bed.

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redsox
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Re: Is graduating at 29 to old?

Postby redsox » Tue Oct 08, 2013 4:37 pm

typ3 wrote:
redsox wrote:
typ3 wrote:I don't think it's unreasonable to assume that someone at 30 should be making 100k per year with investments + salary in order to be financially on track.


On track for what?


To be able to retire in decency, own a home, have a kid or two, and not work until you're on your death bed.


Yeah, I mean, if you want to do all that and have enough money to cover your potential gambling losses, that might be true. Probably still don't actually need that much money to do what you suggest unless you're married to someone who's somehow incapable of working.

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typ3
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Re: Is graduating at 29 to old?

Postby typ3 » Tue Oct 08, 2013 4:43 pm

redsox wrote:
typ3 wrote:
redsox wrote:
typ3 wrote:I don't think it's unreasonable to assume that someone at 30 should be making 100k per year with investments + salary in order to be financially on track.


On track for what?


To be able to retire in decency, own a home, have a kid or two, and not work until you're on your death bed.


Yeah, I mean, if you want to do all that and have enough money to cover your potential gambling losses, that might be true. Probably still don't actually need that much money to do what you suggest unless you're married to someone who's somehow incapable of working.


That's sort of a typical beta comment. You know the whole global wealthy elite will just continue to leave the underclasses behind.

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midwest17
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Re: Is graduating at 29 to old?

Postby midwest17 » Tue Oct 08, 2013 6:19 pm

typ3 wrote:beta


I was wondering when this was going to happen.

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bizzybone1313
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Re: Is graduating at 29 to old?

Postby bizzybone1313 » Tue Oct 08, 2013 6:53 pm

To any OL's that are reading this thread, you are making a huge mistake by working 2-3 years or whatever after undergrad before returning back to LS. It is the biggest mistake I have ever made. I wish I could go back in time and quit my job cold turkey in 2010ish. The only reason I stuck around at the time at my job is because I was making $60K and figured I would make a killing in the stock market during the plunge and subsequent recovery. I did well, but I have had bad luck as of late. I graduated in December 2008 from undergrad.

To you 0L's out there, after you graduate from undergrad, you should do the following:
(1) Study full time for the LSAT 6-9 months. Knock the test out of the water--> attend T-14
(2) Bomb the test on your first time and retake--> move on with your life and do something else

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kalvano
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Re: Is graduating at 29 to old?

Postby kalvano » Tue Oct 08, 2013 7:28 pm

bizzybone1313 wrote:To any OL's that are reading this thread, you are making a huge mistake by working 2-3 years or whatever after undergrad before returning back to LS.



Utterly false. I've found work experience to be very beneficial and I believe it's one of the main contributing factors to my having a job now.

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banjo
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Re: Is graduating at 29 to old?

Postby banjo » Tue Oct 08, 2013 7:34 pm

bizzybone1313 wrote:To any OL's that are reading this thread, you are making a huge mistake by working 2-3 years or whatever after undergrad before returning back to LS. It is the biggest mistake I have ever made. [/b]


I stand by what I said earlier -- failure at 29-30 will feel a lot worse than failure at 25 -- but I think this is going too far.

Working at a decent job is a great way to spend your early twenties. You have a little disposable income, free weeknights and weekends, a lot of energy, and a couple years to be "happy free confused and lonely" without really worrying about the consequences. Plus, professional experience looks good on a resume.

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bizzybone1313
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Re: Is graduating at 29 to old?

Postby bizzybone1313 » Tue Oct 08, 2013 7:37 pm

kalvano wrote:
bizzybone1313 wrote:To any OL's that are reading this thread, you are making a huge mistake by working 2-3 years or whatever after undergrad before returning back to LS.



Utterly false. I've found work experience to be very beneficial and I believe it's one of the main contributing factors to my having a job now.


I think someone should work 1-1/2 years at the most. I am not really advocating that someone be a K-JD. But there is a very fine line between going to LS and being a K-JD and wasting time in another career where one has no intention of doing forever (what I did).

Take the LSAT--> do well --> work a yearish--> attend T-14
Bomb the LSAT--> build your career in another area

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ManoftheHour
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Re: Is graduating at 29 to old?

Postby ManoftheHour » Tue Oct 08, 2013 7:50 pm

banjo wrote:Working at a decent job is a great way to spend your early twenties. You have a little disposable income, free weeknights and weekends, a lot of energy, and a couple years to be "happy free confused and lonely" without really worrying about the consequences. Plus, professional experience looks good on a resume.


Um....FUCK YEAH.


I'd rather have spent time in my 20s exploring and drinking in Europe with my friends than to travel later in life. You'll be old and lame by then anyway.


I don't regret this at all. I've done so much traveling and it's been awesome. Another big trip in one month! :D

Also, by working longer, you build connections, gain experience, and have a fall back plan in case law school does not work out. If I completely suck in law school, I'll drop out and return to my current industry.

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Holly Golightly
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Re: Is graduating at 29 to old?

Postby Holly Golightly » Tue Oct 08, 2013 8:40 pm

Working before law school is the best decision I ever made, for many reasons.

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redsox
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Re: Is graduating at 29 to old?

Postby redsox » Tue Oct 08, 2013 8:53 pm

typ3 wrote:That's sort of a typical beta comment.


Why don't you go ahead and explain this one for me...

bmili
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Re: Is graduating at 29 to old?

Postby bmili » Tue Oct 08, 2013 9:00 pm

.
Last edited by bmili on Tue Mar 11, 2014 5:05 pm, edited 1 time in total.

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redsox
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Re: Is graduating at 29 to old?

Postby redsox » Tue Oct 08, 2013 9:14 pm

typ3 wrote:You only need to be faster to the right conclusion than 51% of people to make a return in the market.


I don't even know what this is supposed to mean...but I didn't think it was worth trying to explain the stock market.

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typ3
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Re: Is graduating at 29 to old?

Postby typ3 » Tue Oct 08, 2013 11:16 pm

bmili wrote:
typ3 wrote:
redsox wrote:
typ3 wrote:I made more than 50k on TSLA and FB alone in the last 12 months with little starting capital and I've already rolled my profits into an equity position in a private company with strong growth and placed a down payment on a house that was undervalued considerably and the housing market / growth in the area has exploded (located in the Midwest) / and it had an unfinished basement that I'm finishing for the equity.

Like I said, compound interest / constantly rolling and using your capital.


1) This isn't interest, it's capital gains.
2) Buying individual stocks in operating companies is moronic, unless you know something about them that the market doesn't. Which you don't.


You don't need to know more about them than the market. The market / banks / funds etc. all rely on analysts for information / predictions about companies. Most of the market is imperfect and is irrational and mostly takes short positions. I am long in all my positions. You only need to be faster to the right conclusion than 51% of people to make a return in the market.

I invest on the side and spend most of my time nightly analyzing public / private eq companies with a group of friends who are all analysts/associates in hedges/AAM's (5-20b AUM funds).

Capital gains = compound interest. The idea of compound interest is that you put your capital to use and as you make gains on your capital you use it to acquire things that give you more returns. I don't know how this could be confusing.



Fail on so many levels. For example, if most of the market takes short positions, due to hypothecation, stock prices would always go down.


Sorry, I meant short term gains not short positions in all stocks.

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Bronx Bum
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Re: Is graduating at 29 to old?

Postby Bronx Bum » Wed Oct 09, 2013 10:35 am

bizzybone1313 wrote:To any OL's that are reading this thread, you are making a huge mistake by working 2-3 years or whatever after undergrad before returning back to LS. It is the biggest mistake I have ever made. I wish I could go back in time and quit my job cold turkey in 2010ish. The only reason I stuck around at the time at my job is because I was making $60K and figured I would make a killing in the stock market during the plunge and subsequent recovery. I did well, but I have had bad luck as of late. I graduated in December 2008 from undergrad.

To you 0L's out there, after you graduate from undergrad, you should do the following:
(1) Study full time for the LSAT 6-9 months. Knock the test out of the water--> attend T-14
(2) Bomb the test on your first time and retake--> move on with your life and do something else



Thanks for the input. Also, LOL at people who just got their law degree and aren't admitted yet considering their decision to graduate in their late 20s a great decision.
Last edited by Bronx Bum on Wed Oct 09, 2013 10:47 am, edited 2 times in total.

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A. Nony Mouse
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Re: Is graduating at 29 to old?

Postby A. Nony Mouse » Wed Oct 09, 2013 10:38 am

I graduated/was admitted in 2011 and think the argument that 29 is "too old" if you're not in biglaw is the stupidest thing I've ever heard.




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