The journal of a rich girl.. Part II

[Syringer]

"I went to a casino yesterday. Holy sh*t. This was my first time gambling over 10 dollars. My mom gives me a 1000 to play the $5 slots. Of course, I lose it all. I'm so pissed off at myself. Then I go play the dollar slots. Make 1200. So I'm up 200 right? Well with the 200 I make another 1200. And then I lose it all. ALL. It's okay. I had a good time and I'm pretty much even.

But then, I bought this Burberry bag (for school) the other day. Value of $600. So I guess I'm not even but rather in debt.

Damn it. At this rate of shopping for myself, I'm not going to have any money left over to shop for other people!

That extra 1000 would have come reeeal handy."

:Q You think?

Part II

So I went shopping AGAIN today, this time with Irene, once again at South Coast.
Of course, we ate at Quattro.
We talked about the good old days when spending $30 on a sweater was considered extravagant. Now, we spend about 200 on a sweater without flinching (I say it's due to inflation!).
We both spent almost $1000 each and I spent another thou a couple days ago on my Burberry crap.

I'm going again tomorrow but this time to Beverly Center. I need to pick up my Petote and finally do some shopping for other people (and more for myself)! Anyone else procrastinating from finals that wants to go?

 

[Ameesh]

when you have money you spend it. dont get too worried about what others have or dont have.

 

[WinkOsmosis]

Jesus

 

[Anubis]

i wish my mom woudl just give me 1000$ i have a hard time getting her to give me 20$

 

[Nebor]

Gambling is retarded. It's made for you to lose. I just don't understand how people can't see that the house always wins...

Amount isn't important. $1000 to this girl may be like a $5 to a hobo. Don't worry about other people's money...

 

[clamum]

Originally posted by: Nebor
Gambling is retarded. It's made for you to lose. I just don't understand how people can't see that the house always wins...

Amount isn't important. $1000 to this girl may be like a $5 to a hobo. Don't worry about other people's money...

If you don't know on the average the house wins you're retarded. I know this obviously but that doesn't stop me from going to the casino once in a while and having fun...

 

[arcas]

I'd rather put my discretionary cash to work on Wall Street rather than in a casino...

Anyway, Nebor is correct. Don't look at raw numbers. $1000 might only be an hours' salary for her parents. It's better to look at it in terms of percentage of their income. If you go to the casino and lose 1/2 of 1% of your annual income, you were probably just having fun. No real worries. If, instead, you lose 1/2 of your annual income, you probably have a gambling problem.

 

Cite your sources please.

 

[Gravity]

Um, k.

 

[Nebor]

Originally posted by: SammySon
Cite your sources please.

They're obviously confidential... I mean, how many people have access to the activities of rich girls?!

 

[freakflag]

pics?

 

[silverpig]

Originally posted by: Nebor
Gambling is retarded. It's made for you to lose. I just don't understand how people can't see that the house always wins...

Amount isn't important. $1000 to this girl may be like a $5 to a hobo. Don't worry about other people's money...

It's not retarded. What if I don't want to spend $50 on a movie and small popcorn, and would rather spend my $50 entertainment budget at a casino. I might even win something.

 

[Nebor]

Originally posted by: silverpig

Originally posted by: Nebor
Gambling is retarded. It's made for you to lose. I just don't understand how people can't see that the house always wins...

Amount isn't important. $1000 to this girl may be like a $5 to a hobo. Don't worry about other people's money...

It's not retarded. What if I don't want to spend $50 on a movie and small popcorn, and would rather spend my $50 entertainment budget at a casino. I might even win something.

You might find a satchel of diamonds on the floor in the movie theater. In fact, it's about as likely as you coming out ahead at a casino!

 

[LordMagnusKain]

Originally posted by: Nebor

Originally posted by: silverpig

Originally posted by: Nebor
Gambling is retarded. It's made for you to lose. I just don't understand how people can't see that the house always wins...

Amount isn't important. $1000 to this girl may be like a $5 to a hobo. Don't worry about other people's money...

It's not retarded. What if I don't want to spend $50 on a movie and small popcorn, and would rather spend my $50 entertainment budget at a casino. I might even win something.

You might find a satchel of diamonds on the floor in the movie theater. In fact, it's about as likely as you coming out ahead at a casino!

i'd think about the same is true for the long-term investor in the stock market.

 

[LordMagnusKain]

dp

 

[Jeff7]

Originally posted by: Anubis
i wish my mom woudl just give me 1000$ i have a hard time getting her to give me 20$

The only times I get handouts/gifts is for Christmas, birthdays, or when I complete tough/lengthy projects around the house.

$1000 would have come in reeeal handy she said? She shouldn't have gambled then. They don't say "we guarantee that you'll leave with more money than what you had when you came in." There's a reason that casinos can stay in business. Perhaps she never considered this?

 

[silverpig]

Originally posted by: Nebor

Originally posted by: silverpig

Originally posted by: Nebor
Gambling is retarded. It's made for you to lose. I just don't understand how people can't see that the house always wins...

Amount isn't important. $1000 to this girl may be like a $5 to a hobo. Don't worry about other people's money...

It's not retarded. What if I don't want to spend $50 on a movie and small popcorn, and would rather spend my $50 entertainment budget at a casino. I might even win something.

You might find a satchel of diamonds on the floor in the movie theater. In fact, it's about as likely as you coming out ahead at a casino!

Hahahaha, you really have no idea what the odds are of winning do you? In roulette you've got a 47-48% chance of winning if you play either red or black. If I had a ~50% chance of finding a sack of diamonds in the movie theatre I'd be going a lot more often.

 

[Alchemist99]

The nice part is how the parents are teaching their child the true value of money, {sarcasm}

 

[illusion88]

Originally posted by: freakflag
pics?

please?

 

[Eli]

Damn.

I would've stopped when I was +2400!

 

[toastyghost]

i liked making fun of sheltered little rich girls too.. until one started laying me on a consistent basis
meh whatever.. it's totally inconsequential on my existence what some spoiled brat gets handed because i obviously didn't get handed the same thing. make do w/ what's had and don't stress what others have. but for the record, yeah no kidding POOR THING she lost someone else's $1k...

 

[ReiAyanami]

i'd think about the same is true for the long-term investor in the stock market.

to the tune of 11% historically annually? well the nasdaq is only up 58% from its low this year

 

[LordMagnusKain]

Originally posted by: ReiAyanami
i'd think about the same is true for the long-term investor in the stock market.

to the tune of 11% historically annually? well the nasdaq is only up 58% from its low this year

just because there was a 11% annual increase last century is no guarantee there is one this century;

the price of the stock is supposed to have all the foreseeable *including the 11%* built in so that it's slightly better than money market..

thing is that the theoretical value of the stock market out weighs the amount of money in circulation by fold, which means that at best, when pushed up against a wall, we'll have to suffer 900% inflation if the fed prints enough money to cover the prices. *of course we all know that the stocks will just crash, but that's an even worse scenario*

I belive in the markets, but if you get anything with a higher than 10:1 PE ratio you are geting it right in the ear.

 

[AccruedExpenditure]

I belive in the markets, but if you get anything with a higher than 10:1 PE ratio you are geting it right in the ear.

10:1? Maybe if long term treasuries were paying 10 percent...

do you understand that today a standard US Government 10 Year Treasury Bond has an effective P/E ratio of just below 20:1? You can't just pull P:E ratios out your ass, you need to compare them to something and since 10 year treasuries are guaranteed money, most sophisticated investors compare them to those.

 

[Danman]

I guess it's all on luck. My aunt just went to a casino in Indiana recently. She hit up the dollar slots, put a dollar in; won $10,000 dollars. Just like that.