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<0> i'm now in the process of building up my credit
<1> because you dont realy have any tradeline or account history
<0> i only have one cc, and about to get another one
<1> nomad: i dont know how au works but thats how it works here
<2> you'll have a good score if you've been paying with handjobs :)
<1> but im guessint it shoudl be similar
<0> i'll pay all my bills in full every month
<0> atheist i'm sure it's the same or at least very similar
<1> its good to build up interest sometimes
<0> for credit score?
<1> so they know you are actually using hte credit card
<1> yeah
<3> cc = bad
<1> cc = bad if you dont know how to take care of it
<0> yes, but the interest is very high
<0> i'm not willing to pay it
<4> yeah, you need personal control
<4> lol
<1> i had very good control
<1> unfortunately
<3> dont get a cc if u cant control it
<1> my 8 credit cards
<0> although, i can get a credit card here whichi has a 9.99% annual rate
<0> for the life of the card
<1> 9.99% is good
<0> that's quite good
<1> i was 90 days late
<1> which killed it
<3> i have 9.99 from BOA
<1> my score dropped from 700s to in the 400s
<0> yes, considering the cash rate in .au is 1.25% higher than in the US
<3> but still hate the card
<1> i had amex gold, bank of america, chase mastercard platinum, etc.
<4> athiest- the more cards u got, the bigger or higher ur rating
<4> ?
<0> i think
<1> gbudwalz: if you take care of it yeah
<1> if you cant then no
<0> what is the Fed Funds rate in the US now?
<4> what if u got 8, only use 1
<0> 4.25%?
<1> around there
<1> well you should try to use all of them at one point
<1> because if you dont
<1> it wont show up in your account as paid
<1> which wont drop your score but wont increase it
<0> the fed funds rate here is 5.5%, so a credit card that's only a 4.5% margin above that is very efficient
<1> yep
<0> they must be getting their funds directly from investors
<0> and not from a bank
<0> probably investment funds that invest in mortgages, mezzanine debt and credit card debt
<0> they're giving them say 8 or 9% and keeping a 1-2% margin
<1> i work in the mortgage industry
<1> and ihelp people with ****ty credit build it
<1> unfortunately i am the one with a ****ty credit as well
<0> hehe
<0> that's funny
<0> ironic i should say
<1> yep
<1> i am so broke right now
<1> i want to invest in stocks and on paper trade
<1> i made about a millino dollars
<1> from couple of thousands in few months
<0> how much paper capital did you start with?
<0> nice
<1> few thousand
<1> like 3500 i think
<1> cause one ofmy stocks
<0> impressive
<1> went up 90000%
<1> now its stable :(
<0> you gotta be careful with small caps though
<1> yeah i know
<0> there are large spreads, and you can't always move large volumes
<1> but i take risks
<0> without crashing the thing
<1> no it had enough volume
<1> .q gzfx.ob
<5> GZFX.OB (gameznflix inc) last: 0.0109 +0.0001 0.92% , range: 0.0108-0.0112, vol: 28235856
<0> ok, good on you then
<1> that one
<1> hwo do i see 52 high/low?
<0> where is it traded?
<1> otcbb
<1> i meant on the irc
<0> !q gzfx.ob
<1> i can see it on marketwatch or yahoo, etc
<6> GZFX.OB (GAMEZNFLIX INC) - 3:59pm: .0109 Change(+0.0001 +0.93%) / Opened(0.0109) Lastclose(0.0108) / Range: Daily(0.0108 - 0.0112) Yearly(0.0025 - 0.175) / Volume(28235856)
<1> oh okay
<0> is otcbb run by the NASD?
<1> yeah i think so
<0> it's like a part of NASDAQ or something
<0> i think ..
<1> yeah
<0> so you're only 20?
<1> yep
<1> what about you
<0> it's weird mentality, how google likes to have its shares cost a lot
<0> while young companies often prefer to have them cost pennies
<1> well
<1> because would you buy some no name company for hundreds of dollars
<1> or google
<0> it really wouldn't matter to me
<1> eh
<0> i guess, if there isn't much liquidity
<0> you don't want the shares to cost hundreds
<1> are you a full time trader?
<0> but costing pennies or a few dollars is really irrelevant
<0> no
<1> or like do it on the side
<0> i don't trade at all
<1> oh
<0> i have no money to trade
<1> same here
<1> i want to get money from people
<1> or help them wiht stocks
<1> and take acut
<0> but all i'm saying is that i don't know why they list their shares at pennies
<0> instead say a few dollars
<1> because no one woudl buy them
<0> it must be some market psychology issues
<0> which is stupid
<0> since it makes no difference
<1> why not
<0> yeah, people must think "oh, i'm getting a bargain" or "i'm not willing to pay more than pennies for an emerging company"
<0> which is all silly
<0> all that matters is how much you invest in the company
<0> not how many shares
<1> well because
<0> it doesn't matter if you buy 1 million shares for 1 cent or 1000 for $10
<1> look at berkshire hatwhay
<0> the investment is the same
<0> yeah, well they've gone too far, on purpose
<0> at such a ridiculous price, to move even one share is hard
<1> !q brk-a
<6> BRK-A (BERKSHIRE HATH HL) - 4:01pm: 00.00 Change(-700.00 -0.78%) / Opened(89800.00) Lastclose(90200.00) / Range: Daily(89500.00 - 89800.00) Yearly(78800.00 - 92000.00) / Volume(180)
<0> the rounding error is huge
<1> look at that
<0> i think anything above $100 starts to become annoying
<1> well they might split the stock (google)
<1> or they might not
<0> as long as the shares are in the $10 range
<0> then the rounding really doesn't come into play
<0> you can more or less move the exact $ amount you want
<0> without worrying about the rounding
<1> i know what you are trying to say
<0> $10 or $1 or 10 cents of 1 cent or 0.1 cent is completely irrelevant
<0> other than psychology factors of "i'm not willing to pay much for speculative shares" or "i'm getting a bargain" or some such sillyness
<0> in BRK's case Buffet on purpose wants to discourage casual investors
<0> so he's making the min investment huge
<0> and so he's never split the shares
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