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2014 networth poll


shalab
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What is your networth now?  

526 members have voted

  1. 1. What is your networth now?

    • Just getting started,
    • Got the engines revved >250K and
    • Cruising to a million >500K and
    • In Sanjeev's elite league >1 million but
    • Accredited investor > 2 million but
    • Bald headed value investor or something in the league > 3 million but
    • Surfin in California > 5 million but
    • Bald and old or filthy rich > 15 million


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There's at least 50 people on here that are in that bald-headed list or higher that I know of, and probably another 50-75 that read but aren't members.  They've just chosen not to respond yet for whatever reason...humility, they aren't bald, vacation, surfing, or busy finding the IP address on their Tesla's.  ;D  Cheers!

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What is the point of this?  I participate in this board because I want to discuss intelligent investment ideas.  Value Investing, for me, involves an element of modesty.  A net worth poll is meaningless anyway, given it will be distorted by all sorts of factors - inheritances, job, investment success etc.

 

Should we all start posting pictures of our cars, of our houses, our spouses jewellry.  Would you like to know how many times I flew first class last year?

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What is the point of this?  I participate in this board because I want to discuss intelligent investment ideas.  Value Investing, for me, involves an element of modesty. A net worth poll is meaningless anyway, given it will be distorted by all sorts of factors - inheritances, job, investment success etc.

 

Should we all start posting pictures of our cars, of our houses, our spouses jewellry.  Would you like to know how many times I flew first class last year?

 

;D ;D ;D

 

I agree.

And your comment reminds me of my last post on the VRX thread about Mr. Kozlowski… or the exact opposite! ;)

 

Gio

 

 

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Should we all start posting pictures of our cars, of our houses, our spouses jewellry.

 

Sure:

http://specials-images.forbesimg.com/imageserve/66cd6f19fabf8c16da3c2e5c2d4f034c/0x600.jpg
http://www.8thingstodo.com/wp-content/uploads/2013/01/Neuschwanstein-Castle-Germany.jpg
http://mineralsciences.si.edu/_img/hope/hope.jpg
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Should we all start posting pictures of our cars, of our houses, our spouses jewellry.

 

Sure:

http://specials-images.forbesimg.com/imageserve/66cd6f19fabf8c16da3c2e5c2d4f034c/0x600.jpg
http://www.8thingstodo.com/wp-content/uploads/2013/01/Neuschwanstein-Castle-Germany.jpg
http://mineralsciences.si.edu/_img/hope/hope.jpg

 

Dude, you must be totally loaded!  Looks like you have beaucoup bucks!

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What is the point of this?  I participate in this board because I want to discuss intelligent investment ideas.  Value Investing, for me, involves an element of modesty.  A net worth poll is meaningless anyway, given it will be distorted by all sorts of factors - inheritances, job, investment success etc.

 

Should we all start posting pictures of our cars, of our houses, our spouses jewellry.  Would you like to know how many times I flew first class last year?

 

How many?  These are mission critical polls around here.  I mentioned in a post the other day that it was about time for a net worth poll, along with a how old are you poll and a YTD returns poll.  Glad someone is listening.

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Should we all start posting pictures of our cars, of our houses, our spouses jewellry.

 

Sure:

http://specials-images.forbesimg.com/imageserve/66cd6f19fabf8c16da3c2e5c2d4f034c/0x600.jpg
http://www.8thingstodo.com/wp-content/uploads/2013/01/Neuschwanstein-Castle-Germany.jpg
http://mineralsciences.si.edu/_img/hope/hope.jpg

 

psssh you pleb, I see you and raise:

http://www.allstocktalk.com/wp-content/uploads/2014/03/Gold-wrapped-Bugatti-Veyron-1.jpg

http://www.allstocktalk.com/wp-content/uploads/2014/03/Gold-wrapped-Bugatti-Veyron-1.jpg

http://www.8thingstodo.com/wp-content/uploads/2013/01/Neuschwanstein-Castle-Germany.jpg

http://www.8thingstodo.com/wp-content/uploads/2013/01/Neuschwanstein-Castle-Germany.jpg

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rkbabang,

 

Nice little cottage you have there.

 

Thanks that's just the vacation home in Germany.  I spend a week there every few years.  I almost forgot I owned it.  I'm so unorganized I had to dig around the house to find the hope diamond to take a picture of it.  It was under the couch cushion.

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rkbabang,

 

Nice little cottage you have there.

 

Thanks that's just the vacation home in Germany.  I spend a week there every few years.  I almost forgot I owned it.  I'm so unorganized I had to dig around the house to find the hope diamond to take a picture of it.  It was under the couch cushion.

 

Man, the next time you are in my neighbourhood give me a call.

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With regards to those discounting the value of these types of polls, I would pose the following question:

 

Do you find it useful to benchmark your investment results?  Many investors find it useful to gauge how they have performed relative to their peers.

 

I find measures of NW polling similarly useful to benchmark my retirement prospects and how I am "performing" relative to the rest of society (not to say that this is an unbiased snapshot of society).  That said, NW to me is the intersection of savings performance, investment returns, and entrepreneurial success (with some noise thrown in for gifting/inheritance/other factors).  That said, knowledge of my performance in those three areas (savings, investment performance, and entrepreneurial success) relative to the general population (or subsets thereof) is very useful to me to reflect upon my own performance in those areas.

 

 

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The thing about this poll is that the categories are arbitrary and represent just a moment in time.  If you would have asked this question a few months ago when BAC was at $18 I was in the category above the one I am in now, had you asked it 2 or 3 years ago I was in the one below the one I'm in now.  (And I don't really own a $4M sports car, the hope diamond, or a castle).

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The thing about this poll is that the categories are arbitrary and represent just a moment in time.  If you would have asked this question a few months ago when BAC was at $18 I was in the category above the one I am in now, had you asked it 2 or 3 years ago I was in the one below the one I'm in now.  (And I don't really own a $4M sports car, the hope diamond, or a castle).

 

yes...the same could be said of the S&P 500 level...investors still use it to benchmark their performance though.

 

I hear what you are saying in terms of it being volatile...however, if everyone is measuring by the same yardstick at the same point in time, they are facing the same effects.  IE, its a pretty safe bet most people have a higher net worth now as compared to 3 years ago due to the market performance...the inverse was true if you measured at March 2009.  My point is, if measured by the same yardstick at the same point in time, it is useful information in comparing where you stand on a relative basis.  If you have $100mm networth, but the average networth is $200mm, then you will not be "rich" or have much purchasing power. 

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What is the difference between these two:

 

In Sanjeev's elite league >1 million but < 2 million

Accredited investor > 1 million but < 2million

 

And what is with the lack of hair in the higher net worth group?  Warren Buffet is richer than anyone here, yet he isn't bald.  If getting to $15M makes you lose your hair, how do you explain all the billionaires that still have theirs?  They somehow made it through the $15M level with their hair (not Donald Trump though).

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Guest longinvestor

With regards to those discounting the value of these types of polls, I would pose the following question:

 

Do you find it useful to benchmark your investment results?  Many investors find it useful to gauge how they have performed relative to their peers.

 

I find measures of NW polling similarly useful to benchmark my retirement prospects and how I am "performing" relative to the rest of society (not to say that this is an unbiased snapshot of society).  That said, NW to me is the intersection of savings performance, investment returns, and entrepreneurial success (with some noise thrown in for gifting/inheritance/other factors).  That said, knowledge of my performance in those three areas (savings, investment performance, and entrepreneurial success) relative to the general population (or subsets thereof) is very useful to me to reflect upon my own performance in those areas.

 

+1, very well stated.

 

The net worth poll serves to boost the ego for doing something right. It validates, comprehensively, faith in value investing like nothing else can. Seeing yourself jump a notch or 2 or 3 up from where you started thinking about NW is a shot in the arm for sure. Of course, this can make one cocky and miserable company. And envy does prevail doesn't it?

 

There is something more important though that is happening here. The question "Do I have enough?".  Surely, there is a point when more important thoughts replace this one. It is great to listen to people who have already been there, and have crystallized their thoughts around this for a long time. 

 

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I totally agree. Most of us value invest not for the proceeds but because we love the process. Big difference. We know what meets out needs and what doesn't. I think if you focus on the process, the results will take care of themselves.

 

You can have just as much happiness investing 500k or 5 million. How about a happiness poll? How about a self actualization poll?  This is the stuff Buffett talks about all the time in his talks with students and is why he keeps repeating himself. How about a "do you tap dance to work poll?"

 

 

What is the point of this?  I participate in this board because I want to discuss intelligent investment ideas.  Value Investing, for me, involves an element of modesty.  A net worth poll is meaningless anyway, given it will be distorted by all sorts of factors - inheritances, job, investment success etc.

 

Should we all start posting pictures of our cars, of our houses, our spouses jewellry.  Would you like to know how many times I flew first class last year?

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Maybe all the people with tens of millions are too busy swimming in their money Scrooge McDuck style to post.

 

http://www.nerdspan.com/wp-content/uploads/2013/03/Scrooge-Porpoise.jpg

This always bothered me. If a regular person swims in coins like that, they would look like one of these people on those 'wear a seatbelt' posters.

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Most of us value invest not for the proceeds but because we love the process......There is something more important though that is happening here. The question "Do I have enough?"

 

I value invest not because I love the process but because I love the results.  I value invest because I'm competitive and value investing is the best, easiest process for me to use to produce above-average results. 

 

In terms of the question "Do I have enough"...I would interpret this similarly to how I would expect Buffett would.  I will keep my competitive drive for more long after recognizing that I have enough.  For me having enough is only part of it.  I want to do the best I possibly can and earn the most I possibly can, and see how well I can do.  I will probably end up donating much of it in the end of life (similar to Buffett), but I still have a competitive drive to see how well I can do in the interim...And viewing the results of a NW poll is part of measuring how well I am doing so far.

 

 

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I totally agree. Most of us value invest not for the proceeds but because we love the process. Big difference. We know what meets out needs and what doesn't. I think if you focus on the process, the results will take care of themselves.

 

You can have just as much happiness investing 500k or 5 million. How about a happiness poll? How about a self actualization poll?  This is the stuff Buffett talks about all the time in his talks with students and is why he keeps repeating himself. How about a "do you tap dance to work poll?"

 

 

What is the point of this?  I participate in this board because I want to discuss intelligent investment ideas.  Value Investing, for me, involves an element of modesty.  A net worth poll is meaningless anyway, given it will be distorted by all sorts of factors - inheritances, job, investment success etc.

 

Should we all start posting pictures of our cars, of our houses, our spouses jewellry.  Would you like to know how many times I flew first class last year?

 

While I like your sentiment and agree to a certain extent, I think there are differences in utility of certain ranges of wealth.  One of the driving goals for me is to have the ability to retire early so the difference between 500k and 5m is very big.

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What is the point of this?  I participate in this board because I want to discuss intelligent investment ideas.  Value Investing, for me, involves an element of modesty.  A net worth poll is meaningless anyway, given it will be distorted by all sorts of factors - inheritances, job, investment success etc.

 

Should we all start posting pictures of our cars, of our houses, our spouses jewellry.  Would you like to know how many times I flew first class last year?

 

True and valid point.  For example, if someone's house is paid off, and they have $2M in investments, and live on perhaps $40K in expenses a year, how would a net worth of $15M even be relevant or matter.  They are financially independent for the rest of their life, and any more dollars than the $2M has no bearing on how their life will play out.

 

That being said, many of our high net worth members have seen their net worth grow exponentially in the last decade by utilizing Ben Graham's theories combined with a hell of a lot of leverage!  That could be somewhat inspirational to newer, younger, lower net worth members who want to know if it is possible for them to achieve a similar result.  Cheers!

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Guest longinvestor

I totally agree. Most of us value invest not for the proceeds but because we love the process. Big difference. We know what meets out needs and what doesn't. I think if you focus on the process, the results will take care of themselves.

 

You can have just as much happiness investing 500k or 5 million. How about a happiness poll? How about a self actualization poll?  This is the stuff Buffett talks about all the time in his talks with students and is why he keeps repeating himself. How about a "do you tap dance to work poll?"

 

 

What is the point of this?  I participate in this board because I want to discuss intelligent investment ideas.  Value Investing, for me, involves an element of modesty.  A net worth poll is meaningless anyway, given it will be distorted by all sorts of factors - inheritances, job, investment success etc.

 

Should we all start posting pictures of our cars, of our houses, our spouses jewellry.  Would you like to know how many times I flew first class last year?

 

While I like your sentiment and agree to a certain extent, I think there are differences in utility of certain ranges of wealth.  One of the driving goals for me is to have the ability to retire early so the difference between 500k and 5m is very big.

 

How about 5 M and 15 M?

Or 15M and 62 B?

 

The tap dancing to work is the sentiment of a guy whose pastime/passion is his work. Isn't the world being somewhat impatient because he never wants to retire versus many of us who want to retire early because we don't enjoy whatever we are doing. 

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