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 Replies: 56 / Views: 5,111 |
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Rest in Peace
United States
9104 Posts |
One day a gentleman brought in 182 krands. I had quoted him $610 per, but he hadn't mentioned quantity.
I told him I would honor the price, but would have to write him a check, and "you know, I don't have that kind of money in the account".
"That's OK, I wouldn't expect you to, just let me know when it's good."
I made $1800 on that transaction, for about three hours total work. Do you think it would have happened if I had a reputation for lying and ripping off my schoolmates?
I've been doing this stuff for roughly three times as long as you've existed. When I was 26, I dealt with a 17 year old whose own father said "he'd lie when the truth would be easier".
You may think of me as a cranky old goat know-it-all, but I learned more at the School of Hard Knocks than you'll ever learn at Wharton, even if that's not another of your lies.
I'm only trying to show you that the "right" way tends to be the "best" way over the long haul. I'd hate to see you in the position like one young man I tried to mentor, who would do idiotic stuff like meet total strangers at a roadside rest at 3ayem, and hand them tens of thousands in cash for bran new gold mountings--"and we have stones that will fit those, If you want to try to retail them".
After a few months, yeah, he made money, but he was being tailed by several federal agencies.
Let us know when you've made a five-figure deal on a handshake. I'll tell you now, there's no rush like it.
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Valued Member
United States
362 Posts |
Quote:
And there are no ethics in business - ask steve jobs or bill gates That's one of the most ignorant statements that I have ever heard, and I feel sorry for you. |
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Rest in Peace
United States
9104 Posts |
BTW, Payenemy numbers prove very little. I can tell you that at one point, I was getting five-digit deposits from Amazon every couple weeks, with about half of that being profit. I want to get this repaired sometime. It's fun to ask people if they've got change for a ten:  |
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Pillar of the Community
United States
4008 Posts |
Quote:
My dad always told me..."Kid, how did you get smarter than me, and I am three times older than you?" - Silverhawk That is a good one. Another one that I like is, "When I was 18, my Dad didn't know a thing. When I reached 25, I was amazed at just how much he had learned!".  Quote:
In the end, one has to follow ones gut, if all the great successes of the world also listened to someone who said something could not be done, then they may have not ever accomplished anything.... Henry Ford once said, "Don't waste my time with the 99 men who say something can't be done. Send me the 1 man who can do it!". Quote:
And there are no ethics in business - ask steve jobs or bill gates. - Rbethell11
That's one of the most ignorant statements that I have ever heard, and I feel sorry for you. - ICanSeeYou7687 I could not agree less with Rbethell11 or more with ICanSeeYou7687. I worked in the chemical business for over 30 years. I met all kinds of people... the good, the bad, the ugly, and the truly evil. Anyone I ever met who was even moderately successful knew that ethics mattered... a LOT. This is the essence of who we are and if this is a rotten spot in us, others WILL recognize it and either avoid us or seek to destroy us as a service to humanity. They are correct in both responses. At the very root of all business transactions is a grain of trust. If I cannot trust someone at even a minimal level, I will NOT do business with them... ever. Most business people feel the very same way. It is only the leftist media and Hollywood who typically have the knee-jerk reaction of "business person = criminal". Such people do exist but they are VASTLY in the minority, I can assure you, and real business people despise them more than anyone else. Any youngster who is approaching this fork in the road of their life had better choose wisely, else they will be running hard on borrowed time. Choosing poorly will mean that disaster is haunting their steps. It is relentless and it WILL catch them one day. Please... don't be a person like that. They are cheap, common, and completely unworthy as human beings. |
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Pillar of the Community
United States
830 Posts |
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And there are no ethics in business - ask steve jobs or bill gates I'll be sure to remember that the first time you put something up for sale.  I really think now you would be best suited for Wall Street and the options market with your ed background and working capital mentioned earlier. My advice is save enough to open a brokerage account with options trading privledges and leave the coin trading as a hobby rather than a business. Good luck |
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Pillar of the Community
United States
3670 Posts |
If the two you mentioned are indeed guilty of what you say, karma should take care of that before it is all finished, as my dad's grandmother always also told him..."You ain't dead yet", meaning you got a lot of suffering to go before you die. He said he did not get it at the time, but in years it all made to much sense.... I think more accurate statement would have been there is NOT always ethics used in bus as that is a fact. But those who stay in bus for a long time, and build up a reputation similar to that of the neighborhood where no one locks their doors, are the ones who profit in the long run and stay in bus.... Reputation, trust, solid products, fast safe shipping, that is what makes a bus go.... As far as buying three Peace dollars for 20 bucks, knowledge is power, and if the less informed made that sale without thinking it through, then their loss. No different IMO that the fellow who lucks out at the garage sell, knowingly buying a valuable items for penny's on the dollar, and ends up selling it for say ten times what they paid. Just the world we live in.... All life forms know right from wrong, and my gut would then tell me to at least let them know I would double my money or more perhaps, as does a pawn shop to stay in bus. And if that 20 helps their situation immediately, and they have no need for the coins, than a good transaction for both.... Edited by Silverhawk74
05/22/2011 3:47 pm
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Valued Member
 United States
103 Posts |
My buying and selling habits are completely different - when selling I am as pure as the silver which graces the beauty of those silver eagles we are all so fond of
When buying I am a greedy vampire, sucking the price down to the best deal possible
thats the way business works
Like I said:
coin collector who sells
seller who collects coins
2 different mindsets
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Valued Member
United States
103 Posts |
ethics in business?
Business is about money
You either make it or you don't....when someone offers you free money, you take it
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Pillar of the Community
Canada
834 Posts |
Funny I have my masters from Wharton, and nothing you are saying was ever lectured to me by any of my prof's. I think you need to stop digging yourself a hole, or shall I contact some alumni and see if the hole your digging is even bigger. I am also a young man in business 27, with my BAH from LSE, and masters from Wharton. As stated before hopefully you take business ethics you will learn a lot about the real world kid. Remember a burnt bridge is one you cannot cross again
Edited by swrbxxx
05/22/2011 5:34 pm
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Valued Member
United States
103 Posts |
yes - I'm sure that every word that I speak must come from the professors...good point? I guess....
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Valued Member
United States
103 Posts |
But please - all I asked was to get some advice...not insults....like I said...its 250 bucks. If I get burned I get burned. Oh well....why not try
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Pillar of the Community
1283 Posts |
GL
Edited by throwbackid
05/22/2011 6:22 pm
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Rest in Peace
United States
9104 Posts |
Wait until you earn a reputation and the local police figure they need to show that they're on the ball, and the easiest way is to set up a sting. Then you can waste a lot of hours and thousands of dollars with attorneys trying to explain away why you were willing to pay seven bucks each for stolen silver dollars.
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Valued Member
United States
103 Posts |
Bigfredd are you familiar with the law? There is absolutely no law that prohibits me from buying silver dollars at a low price, if the person is willing to sell it to me. And this is coming from someone who went to wharton? I feel a little less intelligent now...
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Rest in Peace
United States
9104 Posts |
Quote:As far as buying three Peace dollars for 20 bucks, knowledge is power, and if the less informed made that sale without thinking it through, then their loss. If you use insider knowledge to take advantage of someone, you, as a "knowledgeable buyer" can be sued. It's on the same level as insider stock sales. Does it happen? All the time, but bragging about doing it in a pubic forum afterwards isn't the brightest move. |
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Posted 05/22/2011 1:19 pm
