Don’t tell people what you know, KEEP THEM POOR!

[True Grit Farms]

If your wishing for 15% interest rates again you need an aspirin. Or you didn't live in the real world but a bubble.
The unemployment rates of the late 70's made 2008 look like a picnic.
You actually had a majority of the country that wanted to work then.

CB a lot of things went on back then besides high interest, remember the fuel shortages? I must of lived in a bubble life was good and the bounty was plentiful. There was plenty of work where I was, and those that worked hard got ahead.

 

[ga.prime]

I tell people what I know, they don't remember and ask me the same question again 2 weeks later

 

[Lazy M]

I tell people what I know, they don't remember and ask me the same question again 2 weeks later

You walk a strange and lonely path my friend..

 

[Lucky]

I just can't see taking on any debt just to be able to farm. I can see acquiring debt for some commercial rental property but to farm makes no sense at all to me.

Are you saying it's not smart to borrow any money at all for farming or ranching? No money for land, equipment, cattle....nothing? I borrow as little as possible but definitely don't have 200k for a cattle deal or 500-800k for a land deal laying around.

I worked 35 years to become debt free and I sure don't want to screw it up trying to expand my farming operation.

Debt is not always a bad thing Grit. You just have to be smart enough to make it work for you. If you borrow $750k to run yearlings for 3-4 months and turn it into $850k what's the problem? I know there is a risk involved but nobody gets anywhere sitting on their hands. The quickest way to fail at something is to never try.

 

[Blue Dawg]

I'm not going to read all 8 pages. Here's what this thread is about: Branded is rich. Everyone else is stupid. Poor people suck. They're losers. Rich people are better, even if they were born into it. Grit still hates liberals.

You're all welcome, I saved you some time.

What I get from it is ,Branded is not rich, but wants too be...and the lib's ain't gave Grit a reason too even start liking em.. :lol2:

Must be someone's rich if he's throwing out 4 year old equipment.

w

You can look at this way, the equipment will most probably go in somewhere on trade and someone that needs the equipment might get a good deal. The sales place will make money and all is good. So I don't want to discourage him from sinking his money in the economy, besides it is his money.

 

[CattleMan1920]

Are you saying it's not smart to borrow any money at all for farming or ranching? No money for land, equipment, cattle....nothing? I borrow as little as possible but definitely don't have 200k for a cattle deal or 500-800k for a land deal laying around.

I worked 35 years to become debt free and I sure don't want to screw it up trying to expand my farming operation.

Debt is not always a bad thing Grit. You just have to be smart enough to make it work for you. If you borrow $750k to run yearlings for 3-4 months and turn it into $850k what's the problem? I know there is a risk involved but nobody gets anywhere sitting on their hands. The quickest way to fail at something is to never try.

Agreed.

You my friend are describing arbitrage at its finest.

Time the market right and you will clear more than $100k

If you really feel confident about your abilities, trade cattle futures on the Merc. I've traded beans, wheat, corn, oil, orange juice, unleaded gasoline, heating oil, nat gas (super volatile!), treasury futures, options on futures (insane leverage), S&P 500 futures, Dow futures, Russell index futures, there are probably more things, have to jog my memory.

If you think interest rates are going to rise rapidly, which they should, but it would crash the market, and the economy would look like a train wreck, I digress,...if you think rates are going to rise to 15% which they won't by the way, but if you think they are going higher, then short the sh.it out of the long bond, tip of the tail of the dog so to say. The leverage is at a whole different level, you control a huge amount of assets with a small margin. I've traded 100 contacts at a time, and it felt like skydiving (which by the way I've done many times). If the trade goes against you it's THE sickest feeling you have ever felt, you want to puke. If it goes well, the feeling is indescribable. I've been near situations where 10 figures were made in less than an hour and the guy who did it threw his balls on a cart and walked out of the office and headed for the Hamptons in his Bentley Flying Spur, but I've also seen the exact same guy completely wiped out in minutes. He was frantically trying to mortgage his home in Vail, apartment in Manhattan, and home in South Hampton just to meet his margin call. Futures trading isn't for the weak of heart, but fortune does favor the bold.

Lucky's plan is downright conservative compared to what I've seen and participated in. It's sound, it works; who knows I might invest in Lucky one day.

 

[jehosofat]

Tell us about your pro football career after you got done teaching Top Gun fighter school.

 

[JMJ Farms]

I may dabble with options. But it's a no for me on futures. It's a gamble I'm not willing to take. I've seen a local man get wealthy (not rich, wealthy) with futures. And then I seen him lose it all in the blink of an eye just as you described. He died broke. Not for me. But if one were to hit it right, AND QUIT, it could be the ticket. I can see where it could be tempting but I will pass. Futures and options work like this. For every dollar made, someone else had to lose that dollar.

 

[Lucky]

I really think everyone just needs to do what works for them. I don't live beyond my means but do stick my neck out there from time to time to try and better myself. I've bought land, cattle, new equipment, new pickups, $70 a role hay (by choice), bought a failing business and turned it around, blah blah blah. You just have to make it work for you. We don't spend much money on things that don't have some sort of payback or will wind up in a closet never to be thought of again. I'm no genius and don't have a safety net but really enjoy progress. I hear allot on here that assets have no value and are actually a liability until sold, nothing could be farther from the truth. Everything you own can be made to work in your favor once you figure out the game. The fastest way I see people start failing is when they get to the look at me stage. I could give a care what anyone thinks of me or what I drive and don't have my name or brand on my gates, and no big fancy house. New equipment or borrowed money won't make you fail, Laziness and a poor attitude will though. I'm not saying buying everything new every few years is the way to go but niether is throwing money at old equipment that needs to be replaced. I've watched guys let hay field after hay field burn up because the old baler is broke down again. They're scared to buy a new one and can't figure out why they don't have any money to do so. I honestly feel that somewhere in the middle of this thread is the place to be. Good luck to everyone and remember it's always a good thing to see your neighbor do really well and succeed, because if he can do it so can you.

 

[True Grit Farms]

I may dabble with options. But it's a no for me on futures. It's a gamble I'm not willing to take. I've seen a local man get wealthy (not rich, wealthy) with futures. And then I seen him lose it all in the blink of an eye just as you described. He died broke. Not for me. But if one were to hit it right, AND QUIT, it could be the ticket. I can see where it could be tempting but I will pass. Futures and options work like this. For every dollar made, someone else had to lose that dollar.

Good post, that's what the paper pushers don't want you to think about. You reap what you sow, you take short cuts you'll end up paying in the end.

 

[Blue Dawg]

I may dabble with options. But it's a no for me on futures. It's a gamble I'm not willing to take. I've seen a local man get wealthy (not rich, wealthy) with futures. And then I seen him lose it all in the blink of an eye just as you described. He died broke. Not for me. But if one were to hit it right, AND QUIT, it could be the ticket. I can see where it could be tempting but I will pass. Futures and options work like this. For every dollar made, someone else had to lose that dollar.

Good post, that's what the paper pushers don't want you to think about. You reap what you sow, you take short cuts you'll end up paying in the end.

Agreed, not building real wealth, just trading among ourselves. But it also creates cash flow so one can service their debt.

 

[sim.-ang.king]

Tell us about your pro football career after you got done teaching Top Gun fighter school.

As the saying goes...there's more to this story, than appears.

 

[callmefence]

If you're planning on doing something for a living you better have equipment you can depend on. There's nothing that will cost you more than down time. Now if you're just dikin around that's different. ...

I think I'll start a earth moving bidness with a short handled shovel and a wheelbarrow

 

[ALACOWMAN]

One things for sure,If I had been in Business over fifty years.. I wouldn't be on here telling folks,""with different views"" what I'm going too do.. I'd just do it..its not like they just woke up in the business..

 

[CattleMan1920]

Tell us about your pro football career after you got done teaching Top Gun fighter school.

After you tell us all about what you have done. I just said I've been around some interesting situations, you are the one that seems to have a problem with that. Why?

I have a hunch that there are some VERY interesting folks on here, some well off, some not so much, but very interesting nevertheless. Some post, some just sit back and observe.

I guarantee you there are people on here that have far more interesting stories than mine. Stories we can all learn from. We just have to get it out of them.

 

[CattleMan1920]

One things for sure,If I had been in Business over fifty years.. I wouldn't be on here telling folks,""with different views"" what I'm going too do.. I'd just do it..its not like they just woke up in the business..

I actually tell you all very little about what we have going on out here.

Ron can confirm that for you.

 

[Named'em Tamed'em]

Tell us about your pro football career after you got done teaching Top Gun fighter school.

After you tell us all about what you have done. I just said I've been around some interesting situations, you are the one that seems to have a problem with that. Why?

I have a hunch that there are some VERY interesting folks on here, some well off, some not so much, but very interesting nevertheless. Some post, some just sit back and observe.

I guarantee you there are people on here that have far more interesting stories than mine. Stories we can all learn from. We just have to get it out of them.

I don't know shytt, but there is posting and and then there is boasting! :2cents: :2cents: :2cents: :2cents: :2cents: that's my ten cents worth :tiphat:

 

[CattleMan1920]

Tell us about your pro football career after you got done teaching Top Gun fighter school.

After you tell us all about what you have done. I just said I've been around some interesting situations, you are the one that seems to have a problem with that. Why?

I have a hunch that there are some VERY interesting folks on here, some well off, some not so much, but very interesting nevertheless. Some post, some just sit back and observe.

I guarantee you there are people on here that have far more interesting stories than mine. Stories we can all learn from. We just have to get it out of them.

I don't know shytt, but there is posting and and then there is boasting! :2cents: :2cents: :2cents: :2cents: :2cents: that's my ten cents worth :tiphat:

I've never played pro football or flown jets. Never made a claim that I did. :tiphat:

 

[Dave]

Tell us about your pro football career after you got done teaching Top Gun fighter school.

After you tell us all about what you have done. I just said I've been around some interesting situations, you are the one that seems to have a problem with that. Why?

I have a hunch that there are some VERY interesting folks on here, some well off, some not so much, but very interesting nevertheless. Some post, some just sit back and observe.

I guarantee you there are people on here that have far more interesting stories than mine. Stories we can all learn from. We just have to get it out of them.

I don't know shytt, but there is posting and and then there is boasting! :2cents: :2cents: :2cents: :2cents: :2cents: that's my ten cents worth :tiphat:

I have been around long enough to learn the difference between someone with a story to tell and one who bloviates.

 

[Named'em Tamed'em]

After you tell us all about what you have done. I just said I've been around some interesting situations, you are the one that seems to have a problem with that. Why?

I have a hunch that there are some VERY interesting folks on here, some well off, some not so much, but very interesting nevertheless. Some post, some just sit back and observe.

I guarantee you there are people on here that have far more interesting stories than mine. Stories we can all learn from. We just have to get it out of them.

I don't know shytt, but there is posting and and then there is boasting! :2cents: :2cents: :2cents: :2cents: :2cents: that's my ten cents worth :tiphat:

I have been around long enough to learn the difference between someone with a story to tell and one who bloviates.

I had to google bloviates! :lol: