Trading Stocks Is the Ideal Business

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WilliamSmith
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Re: Trading Stocks Is the Ideal Business

Post by WilliamSmith »

Definitely agree 100%, stock trading is an ideal business and a skill I wish I'd learned decades ago.

I like having multiple "irons in the fire" when it comes to location-independent income that I can theoretically keep up from anywhere (especially if it yields passive sales), but being a trader is one of the best ones there is.

Any successful traders on here: Do you have booklists or other resources you'd recommend that took you from being a beginner to a successful trader earning consistent profits?

One great one for some immediate credibility, since he's just been making records in an audited investing competition:

Mark Minervini:
His books "Trade Like a Stock Market Wizard" and "Think & Trade Like a Champion" are probably the most valuable learning resources I have so far.
He is also a great follow on Fintwit ( @markminervini ) where he posts lots of valuable information as well as periodically pissing off commies and other trolls on there, who he seems to enjoy engaging with. :mrgreen:

https://www.bloomberg.com/press-release ... es-record
2021 United States Investing Championship Winners — Minervini Smashes Record

The United States Investing Championship today reported the winners of the
2021 competition, which involved 338 international traders. The United States
Investing Championship is a real money verified competition which gives up and
coming traders an opportunity to showcase their talent on the world stage.
Prior top performers include Paul Tudor Jones and Louis Bacon. Participants
specify an account number at the beginning of the year for tracking purposes.
Brokerage statements associated with that account are used to verify
performance claims. The competition began in 1983 and ran for fifteen years.
It was restarted in 2019.

Winning the $1,000,000+ stock division with a record shattering + 334.8% is
Mark Minervini. The prior record in the $1,000,000+ stock division was +
119.1%, set by George Tkaczuk in 2020. Mr. Minervini also finished first in
1997 United States Investing Championship. He is the author of two books,
Trade Like a Stock Market Wizard and Think & Trade Like a Champion. Finishing
second, + 100.4%, is Vibha Jha. Miss Jha was the top performing female in the
2020 competition, finishing + 155.2%.
If you're serious about "taking the red pill," read thoroughly researched work by an unbiased "American intellectual soldier of our age" to learn what controlled media doesn't want you to see 8) : https://www.unz.com/page/american-pravda-series/
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WilliamSmith
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Re: Trading Stocks Is the Ideal Business

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Minervini retweeted this list of stock trading books, and I think it's a great starting place if any of you want to learn to be a stock and/or etf trader, which I think has potential to be one of the most liberating businesses you can have if you want to do the Happier Abroad thing and be a nomad, or live overseas making solid $$$ independently of the ups and downs of the local economies where you live.
The original tweet was posted by a pro trader on there who said these books were his foundations after reading tons of other books and 100s of hours of seminars and so forth since 2006.
I've got all these but haven't read Mark Douglas yet (but will do that this week), and I agree based on all the others for sure!

The list shown (in text) is:

Trade Like a Stock Market Wizard (Minervini)
How to Make Money in Stocks (William J. O'Neil)
Think and Trade Like a Champion (Minervini)
Stan Weinstein's Secrets for Profiting in Bear and Bull Markets
Trading in the Zone (Mark Douglas)
Image

If you end up getting into trading as much as me and loving it, some great historical additions to the list:

How to Trade in Stocks by the legendary Jesse Livermore, who started operating as a speculator as a teenager in the late 1890s (very interesting story), then wrote "How to Trade in Stocks" in 1939.
(Reminiscences of a Stock Operator by Edwin Lefèvre was about Livermore, but I haven't read it yet.)

How I Made $2,000,000 in the Stock Market (Nicolas Darvas), another great one by an interesting guy who learned to trade in the 1950s.

A few points I'll leave behind here to encourage anyone who drops by (just on the off chance any MGTOW who are currently a little too deep into negativity wonder?):

These basic trading systems in these books are NOT scams! :)

You can get started with an extremely small amount of money on a commission-free brokerage (some of which even let you buy fractional shares, so you could easily start with $100 or less if you want to learn and gain experience, then take bigger positions when you're proven that your trading rules you use work for you and bring in consistent profit).

Also, you can control the size of your losses with a stop-loss order on every trade (as well as locking in profits by raising your stop above breakeven when trades go in your favor), so there is nothing to fear about losing money while you gain experience.
The old-timer Livermore was both a gambler and speculator, but as a trader today you can virtually guarantee you won't lose money by using a disciplined stop-loss order strategy, so that you don't lose much on trades that go against you.
Guys who lose a lot of money trading puzzle me, but in the cases where I found out details, they almost always involved them getting it into their heads their "thesis" about the direction prices are going supposedly had to be right, so they didn't place a stop, and then they often also hang on to losing trades that go divebombing down into double-digit losses waiting for them to come back (which sometimes they never do). I, on the other hand, can happily be a dumbass and be wrong about what the market's going to do and never even come close to losing 10% on a trade, since I always have a tighter stop than that placed the moment I take any position in a stock or ETF. :mrgreen:

Nailing down your trading rules and systems takes a learning phase, and then some disciplined effort, but it definitely works. You can also choose what timeframe you operate in: I'm getting to like short-term trading or even day trading more and more, and prefer short timeframes, but on the other hand when you get a big winner that sails up well over your entry position, you can add to your position size and set a wider stop, but hold it for as long as it keeps going up. (That worked well for me in some trades in oil, commodity, and uranium ETFs last year, but lots of smaller short-term trades are often even better as a new trader, because you're applying your rulesets and learning and refining your system, and even getting 0.5% to 1% on a daytrade or sometimes multiple daytrades can add up to more money than being a small trader waiting weeks or months for a lower winning trade that brings 5, 10, 20%, etc., but takes longer.)

Geez, that's a big wall of text I just put down there...
I love trading stocks and ETFs!!. I's becoming more and more one of my personal favorite enthusiasms in life, after scoring with women. :D
If you're serious about "taking the red pill," read thoroughly researched work by an unbiased "American intellectual soldier of our age" to learn what controlled media doesn't want you to see 8) : https://www.unz.com/page/american-pravda-series/
Taco
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Re: Trading Stocks Is the Ideal Business

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Trading software that would normally cost $200 to $300/ month can be used for free at Tradingview. Stocks, Forex and Futures charts with 8,000 technical indicators...

Tradingview
https://www.tradingview.com/#
Paranoia is just having the right information. - William S. Burroughs
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Cornfed
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Re: Trading Stocks Is the Ideal Business

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Selling things back and fourth trying to make money based on the greater fool theory with other people trying to do the same thing seems a bit less than ideal.
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WilliamSmith
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Re: Trading Stocks Is the Ideal Business

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Taco wrote:
April 21st, 2022, 9:20 pm
Trading software that would normally cost $200 to $300/ month can be used for free at Tradingview. Stocks, Forex and Futures charts with 8,000 technical indicators...

Tradingview
https://www.tradingview.com/#
Yeah, good call! Tradingview is a good site. Also, almost all of the brokerages are free to join and commission free right now, and some of them also have very nice charts and technical indicators built into their own platform. But Tradingview definitely is very good, and some pro traders I'm familiar with who do a lot of technical analysis use it as one of their main tools every trading day.
If you're serious about "taking the red pill," read thoroughly researched work by an unbiased "American intellectual soldier of our age" to learn what controlled media doesn't want you to see 8) : https://www.unz.com/page/american-pravda-series/
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Re: Trading Stocks Is the Ideal Business

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Cornfed wrote:
April 22nd, 2022, 5:50 am
Selling things back and fourth trying to make money based on the greater fool theory with other people trying to do the same thing seems a bit less than ideal.
Trading isn't by any means all based on the greater fool theory (or even at all, in many cases, and I'll explain what I mean later in more detail, instead of just being an annoying naysayer :mrgreen: ), however:
There's a fair amount of truth that it's less than ideal, if we were talking about a business in an ideal society where the global financial system wasn't completely dominated by a cabal of mass-murdering bloodsucker international banks, who have created a system where they can bury the entire planet in debt and finance warfare and global communism by creating worthless fiat money and debt out of thin air, and also play financial and commodity markets up and down like a casino.

However, since that is in fact what the central banking system is right now, I think what me and some of the other proponents meant by "an ideal business" is one where you're fully independent, self-employed, can work from any location, etc. Trading certainly isn't the only way to do this, but it's one great way. :D

Being a trader is kind of like being an online poker player, except much more lucrative even if your skills are relatively modest (and more fun, IMO, though what's fun is obviously subjective). But you're not actually creating or producing anything, or contributing anything, which would be even more ideal in a pure fantasy scenario. However, it's still a good choice, and obviously people who are stuck in the USSA working a lousy job they hate every minute of would be doing themselves a HUGE favor by reading either some of those books above, or finding their own system that actually works.

Cornfed's post also raises an interesting point about the ethics of trading and speculation in an environment we're seeing now, where the NWO is unconscionably unleashing a vast flood of money printing that's having disastrous consequences of sending energy and food prices soaring, is already causing riots in countries like Sri Lanka and Peru, and may even lead to mass starvation. I made another thread all about that subject, and how they did shit like this before when they caused the Arab Spring thing by printing a f***ing insane amount of money in their f***ing bloodsucker NWO banks while holding down interest rates to ridiculously low levels.
Obviously the overt economic terrorism of all this + Soros with his old predatory currency trades is unconscionable, but some other forms of speculating are in an ethical grey area if you're a small trader whose account doesn't move markets much.
I'd go out on a limb and guess mentally twisted satanic trannies like Ayn Rand would tell you profiting from even the most flagrantly unethical trades was just great because of the "virtue of selfishness" and so on, but I wouldn't agree, and it's worth thinking about...
But when the bloodsucker bankster "quantitative easing" money counterfeiting and interest rate manipulation gets markets pumping and crashing, and I don't really see that doing something like day trading NASDAQ long and short ETFs is an ethical problem.

Oh yeah, @Cornfed, whether your prediction about how everyone who got vaxxed is going to go through a mass die-off later plays out or not, I had a great trade earlier with a stock with ticker SCI (Service Corporations International) that is a funeral home company, and coincidentally happened to also be one of Peter Lynch's "ten-baggers" in the 80's, if I remember rightly.
If there's another crash that puts it at a steep discount or SCI pulls back, might make another good trade sometime, unless you and fschmidt are jumping for joy that half the people on the planet are dying (while I feel bad about it, but go on living since I'm not vaxxed either, LOL). Any of you who see this, do your own work on timing though, my recommendation obviously being to learn to trade with charts from that list of books above.
If you're serious about "taking the red pill," read thoroughly researched work by an unbiased "American intellectual soldier of our age" to learn what controlled media doesn't want you to see 8) : https://www.unz.com/page/american-pravda-series/
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Re: Trading Stocks Is the Ideal Business

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Let's post something more inspiring about trading: I spotted this little hottie who is apparently a Slovenian daytrader the other day. (Haven't looked up her trading system yet, so I can only vouch for the books above from experience.)
That's a very beautifully shaped ass on such a pretty slender little woman. The golden light illuminating her hair and falling on the beautiful sweeping curve of her lower back and those lacy white panties looks like a work of art. :D
@Winston, instinct tells me you might be interested in this even if trading isn't your cup of tea. :D
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If you're serious about "taking the red pill," read thoroughly researched work by an unbiased "American intellectual soldier of our age" to learn what controlled media doesn't want you to see 8) : https://www.unz.com/page/american-pravda-series/
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Re: Trading Stocks Is the Ideal Business

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Another great advantage of being a short-term trader is that there's plenty of opportunities (often daily) whether you're in an up or down market. For example, there's inverse ETFs when things are selling off (profit from a falling price of an index of stocks or particular market segment, for example), and short-term rallies when a stock or ETF is heavily oversold and due for a bounce back up (even if that rebound is temporary, if it's in the middle of a longer-term downtrend that would make it a bad buy for a position trader who wanted to hold positions for months or years):
If you're serious about "taking the red pill," read thoroughly researched work by an unbiased "American intellectual soldier of our age" to learn what controlled media doesn't want you to see 8) : https://www.unz.com/page/american-pravda-series/
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Re: Trading Stocks Is the Ideal Business

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azaXiin wrote:
May 16th, 2022, 4:29 am
Are there any courses to learn this?
If it's the style of trading I like that you want to learn: I'd say you could learn it from the book list I posted (since that's what I did, and then just looked up the occasional thing on the net afterward), but I'm not sure who has the best courses for beginners:
For swing or position trading stocks (where you plan to take a position with a stop-loss set, then hold winning trades for more than one day, possibly even weeks or months, depending on how long price action goes in your favor), what they call a 200 vs 50 day moving average crossover strategy is often used. (Various other moving average crossovers can be used too, depending on time periods.)
So it would be ideal if any trading course you were looking at covered that subject, and it'd be a good sign I'd say if they referred to those authors on the book list I posted.

Minervini has an expensive insiders access subscription service (I've never used it) that I would strongly suspect is worth it since I know his information in his books is good and he documents his performance, but not sure if it's beginner friendly or not.

I have heard a number of people who like the beginner-intermediate training videos provided by "Follow the Money", a service by a trader named Jerry Robinson who does use the kind of trading strategies I like, and who I think does an affordable subscription on a monthly basis.

Maybe the other guys who trade different things than me that I don't know about (like forex, futures, options, etc) can chime in with their recommendations too? :)
If you're serious about "taking the red pill," read thoroughly researched work by an unbiased "American intellectual soldier of our age" to learn what controlled media doesn't want you to see 8) : https://www.unz.com/page/american-pravda-series/
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Re: Trading Stocks Is the Ideal Business

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Re: Trading Stocks Is the Ideal Business

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This is exactly why me and other short-term chart-based traders are making some great money right now trading inverse ETFs like SQQQ (my personal favorite) and many other inverse ETFs that go up when the major stock indexes like S&P500 and Nasdaq are tanking.
Also a great example of why I personally am a chart-based trader who watches price and volume action and charts, not coming up with a "thesis" about why "the fundamentals" say Bitcoin is going to be at $100bazillion by January, or why tech stock prices can't possibly come down because Cathy Wood or the internet or whatever their reasons were before they all tanked and guys like me started daytrading SQQQ or SARK (inverse ETF that goes up when ARK tanks). :mrgreen:
This is also a great time to be selecting stocks in advance for the next bull run, and I have a feeling the Weimar-esque money printing by the bloodsuckers in the Fed banking cabal is going to be a spectacle! What a run we had when those filthy rats printed up QE storm after the plandemic crash! :D
Taco wrote:
May 22nd, 2022, 8:21 pm
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If you're serious about "taking the red pill," read thoroughly researched work by an unbiased "American intellectual soldier of our age" to learn what controlled media doesn't want you to see 8) : https://www.unz.com/page/american-pravda-series/
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Re: Trading Stocks Is the Ideal Business

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Trading boils down to simple numbers

did yr account go up or down after year 1 after year 2 after year 3 on on on

sooo many hedge fund with genius manager promis absolute gain no mater market that make 2 percent everyear and 20 more on plus year easy become wealthy and rich jus from 2 percent yet fund go up some year and down some year and maybe long term avg can way below stock market return so why oh why if trading can be learned if you work hard and smart is it that hi percentage of the hedge funds not even make positive return most year and we also ask employe at robinhood or etrader how most retail client do and they say maybe 95 percent or more jus lose money so keep investing more like gambling adict

so genius hege fund manager lose money a lot and wall st people not make right prediction when it count and big money making from the insider and the the soo rare sucess trader

many people talk talk talk trading say wow i make money last week big trade and so on so on but never talk bout when lose money and never tell long term track record that some years they lose big and maybe in all trading life they lost more than gain
"Close mind genus more dangrous than 10,000 dumwits" - Spencer

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Re: Trading Stocks Is the Ideal Business

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Heheh, re: what he's saying here about "genius" hedge fund managers losing a lot of money right now: That's why I trade based on charts and some basic technical analysis as taught by the recommended book list I posted earlier.
Spencer wrote:
May 23rd, 2022, 9:16 am
so genius hege fund manager lose money a lot and wall st people not make right prediction when it count and big money making from the insider and the the soo rare sucess trader
A bunch of Wall Street hodlers with a bazillion IQ points and a "thesis" about why they're going to hang on to plunging stocks or buy more of stocks plummeting into deeper and deeper downtrends is why we just saw Bill Ackman lose $400 million just catching the falling knife in Netflix stock, or Melvin Capital go bust, and then of course there's Cathie Wood:


All this underscores the vital importance of putting tight risk management as your top priority, by always keeping a tight stop-loss placed to limit your downside on every trade.
If you do that, there's literally no way you could possibly end up with the kind of double-digit losses these Wall Street "geniuses" are taking, because you'd be stopped out when the stonks start tanking (not caught hodling when they're down 30-50-80% and then make it even worse by averaging down and buying more).
Personally I'm of Scottish heritage and would actually probably improve my own results if I was less parsimonious and placed wider stops (e.g. 5-8%) but get stopped out all the time because I'm so parsimonious I don't like losing even small amounts. :mrgreen:
Spencer wrote:
May 23rd, 2022, 9:16 am
many people talk talk talk trading say wow i make money last week big trade and so on so on but never talk bout when lose money and never tell long term track record that some years they lose big and maybe in all trading life they lost more than gain
But anyone who needs convincing that some traders do make money and prove their booked results: Check out the United States Investing Championship winners, including Minervini whose books I recommended earlier in this thread. The Championship audited the results to prove each trader did as well as they claimed they did. :D
https://www.bloomberg.com/press-release ... hes-record
If you're serious about "taking the red pill," read thoroughly researched work by an unbiased "American intellectual soldier of our age" to learn what controlled media doesn't want you to see 8) : https://www.unz.com/page/american-pravda-series/
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Re: Trading Stocks Is the Ideal Business

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WilliamSmith wrote:
May 23rd, 2022, 9:39 am
always keeping a tight stop-loss placed to limit your downside on every trade.
Institutional investors had/have a procedure known as "running the stops" where they short into a rising stock, bring it down to below where it started and cover their shorts with other people's stop-losses before allowing the stock to rise again. The stop-loss tactic sounds like it would severely limit ways to profit.
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Re: Trading Stocks Is the Ideal Business

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WilliamSmith wrote:
May 23rd, 2022, 9:39 am
Heheh, re: what he's saying here about "genius" hedge fund managers losing a lot of money right now: That's why I trade based on charts and some basic technical analysis as taught by the recommended book list I posted earlier.
Spencer wrote:
May 23rd, 2022, 9:16 am
so genius hege fund manager lose money a lot and wall st people not make right prediction when it count and big money making from the insider and the the soo rare sucess trader
A bunch of Wall Street hodlers with a bazillion IQ points and a "thesis" about why they're going to hang on to plunging stocks or buy more of stocks plummeting into deeper and deeper downtrends is why we just saw Bill Ackman lose $400 million just catching the falling knife in Netflix stock, or Melvin Capital go bust, and then of course there's Cathie Wood:


All this underscores the vital importance of putting tight risk management as your top priority, by always keeping a tight stop-loss placed to limit your downside on every trade.
If you do that, there's literally no way you could possibly end up with the kind of double-digit losses these Wall Street "geniuses" are taking, because you'd be stopped out when the stonks start tanking (not caught hodling when they're down 30-50-80% and then make it even worse by averaging down and buying more).
Personally I'm of Scottish heritage and would actually probably improve my own results if I was less parsimonious and placed wider stops (e.g. 5-8%) but get stopped out all the time because I'm so parsimonious I don't like losing even small amounts. :mrgreen:
Spencer wrote:
May 23rd, 2022, 9:16 am
many people talk talk talk trading say wow i make money last week big trade and so on so on but never talk bout when lose money and never tell long term track record that some years they lose big and maybe in all trading life they lost more than gain
But anyone who needs convincing that some traders do make money and prove their booked results: Check out the United States Investing Championship winners, including Minervini whose books I recommended earlier in this thread. The Championship audited the results to prove each trader did as well as they claimed they did. :D
https://www.bloomberg.com/press-release ... hes-record
Hege fund manager genius cus he make millions even when fund go down by charge client 2 percent and laugh all way to bank

2009 good time catch falling knife or get in after start recover but most never know any clue that fed intention flood market with new money print at will and enginer to eqtity and property for next 12 year and then more more more with the covid

if you wise man look to historicals then you know when oil go so low in early covid time for buy buy buy and when see 2000 .com have crazy hysteria think wit inernet magic that earning not matter any more

now the dangerzone cus maybe not anymore possible for fed make more dollars and have almost no intrest cus liquids spilling from asset to consumer prices that make lower half or lower quarter of public go crazy mad and desprado cus inflation get close for double digit same 70s then fed no longer can print moneys no longer can keep interest rate low so when int rate and inflation go up stock market get devalue for much lower avg price divide by earning or mark cap divide by GDP not same as 2020 and 2021

few trader make money every year after year for its more instincual and how emotions work so for the gifted ones who maybe just cab driver or house wife then go go go for trade all time and make millions from marbles but most people cannot make consistent moneys even after take 15 top trader courses or shadow best of best traders for trading is art basis on mass emotion not science based maybe 1 or 2 out of 100 might make it wit right preps and focuses and time but most canot and for stop loss as way for risk manage that is like death by 1000s cuts in choppy volatile markets for big boys or social medias nutters like play games and big dawg stop hunters get market down to trigger floods of stops at milestone prices for grab opps to buy stock on the cheepy

if you are the trader who make net money in 2016 and 17 and 18 and 19 and 20 and 21 congrats for being so special gift man or maybe you just put rode the liquid train but thats not trader way thats investor way

so if you the real trader that buy and sell and buy and sell every week after week and end year wit more money than in start and you not ever go big minus like 25 percent or more for each of last 6 years than you are better than 99 percent of those guys who say they pros for any one who copytrade you make big moneys

forget tacoplyps instead be happy abord fund manger hoy hoy
"Close mind genus more dangrous than 10,000 dumwits" - Spencer

"It takes far less effort to find and move to the society that has what you want than it does to try to reconstruct an existing society to match your standards." - Harry Browne

"Wiseton is a very dynamic individual, what most would call a genius. He's started a movement, and only genius types can do such a thing." - Boycottamericanwomen
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