[hinkley]

There’s probably something to be said for not buying a Ferrari first chance you get either. Smart thing to do is behave like you won the lottery. Lawyer up, spend your money on semi invisible things like paying down debt.

Once you’re successful everyone starts asking questions.

[the_gipsy]

Apart from being financial advice, that has nothing to do.

[hinkley]

> you never tell anyone and you exploit it as fast and hard as possible

How do you tell someone you found a get rich quick scheme without telling them you found a get rich quick scheme? Conspicuous consumption. I’m not talking about your neighbors wondering what’s up, I’m talking about your industrial peers connecting the dots and stalking you to figure out what’s up.

[bawolff]

You are missing the point. The reason not to tell anyone is there is limited money to be made from arbitage. If someone else finds it they make the money instead of you.

Not telling people you struck gold might be great life advice, but other people knowing you are rich, in and of itself, wont affect the arbitarge opportunity.

[hinkley]

> The reason not to tell anyone is there is limited money to be made from arbitage.

>> I’m talking about your industrial peers connecting the dots and stalking you to figure out what’s up.

I'm well aware. Perhaps you need to recalibrate your opinion of other people.

[cercatrova]

But I don't understand this:

> How do you tell someone you found a get rich quick scheme without telling them you found a get rich quick scheme?

Why even tell anyone at all? There's no need to buy anything physical, just save it up and spend it on a market ETF for example.

[koolba]

In this case, taking off a couple hundred grand and buying a Ferrari (rather than leaving in Celsius) would have been the smart move. At least you’d hold the keys to the Ferrari.

[hinkley]

Heh, fair enough. There's a whole chess game with these sorts of things. I think it's probably very good advice to try to take a little money out of any investment before adding more to it, but it's also documented that con artists and pyramid schemes will sacrifice part of their take to maintain the illusion. Some investors get to take money out, so that the rest of the marks think they are going to get the same treatment. Or with a confidence scheme you might make a little money in step 1 and 2 and then in step 3 their phones are disconnected and they have skipped town.

[Edit] It does piss me off though how common the conceit is, "Well if I'd held my AAPL stock until last year I'd be a millionaire". That's not how investments work. You don't let the money ride forever on one bet. You sell it bit by bit to balance your portfolio. Nobody responsible in your life would let that go without energetic commentary about what a bad idea it is.