Double To A Million Plan: Step 16 - Hasty Speculation

Double To A Million Plan

Double Your Way To A Million
Starting with Nothing, Ending with a Million Dollars.

Author: Xinfinitum

Saturday, February 24, 2007

Step 16 - Hasty Speculation

How To Double Your Way To A Million In 28 Steps

There is Proverb that reads:

Steady plodding brings prosperity;
hasty speculation brings poverty.

Although I have known this for sometime, every once in awhile I think I can cheat the bank, so to speak, and maybe outwit the wisdom of the ages and prosper through speculation.

Of what speculation do I speak? The Stock Market and more specifically, the Penny stocks.

I first traded penny stocks back in the early to late 80's and I didn’t make any money on it then and I doubt I will be making any money on it now. The last trade I made for a penny stocks back then was on Black Monday , October 19, 1987. I was on the phone to my broker saying to buy a certain stock and he was saying to me well the market is dropping a “Little” and maybe I should wait. It was actually dropping 500 points but he didn’t want to be an alarmist. I said; “No, go ahead and buy it anyways”. Famous last words as the markets dramatically dropped leaving us with the second worst day for the markets around the world in history.

You would think that after that I would have learned but through the next 20 years I would pay the price for my speculating in the commodities market, the stock market, the bonds market, the options market, even the stinkin Supermarket(just kidding about the supermarket). Every market known to modern man has cost me greatly. By my calculations I would already be at the coveted Million if I had just saved my money and not invested in any “Market”.

I think the years 2000 and 2006 were the worst. In 2000 I bought Intel two days before the stock cut in half. How much did I lose? Well, lets just say I had sold my home and invested the money in the stock.

The loss was catastrophic. Did that stop me from investing in the stock market? Nope.

Amazingly after all these years and the many attempts, it is the small loss of around $50.00 of my DTAMP stake that has finally convinced me to stop speculating in the stock market, permanently. 20 years can change a man, even a man as stubborn as old Xinfinitum here, even if the change doesn't come until the last minute.

Yet, each man has his own path to walk, a journey different than any others, unique for that soul, unique for that life. Lessons to learn that are as individual as the individual themself.

There are many lessons to learn doing the Double to a Million Plan. I think everyone that attempts it will learn lessons that perhaps have alluded them up to this point. I don’t know exactly why it seems to work the way it does, but the things one can learn during the adventurous trek can and will be very valuable.

I haven’t been writing much because I haven’t made any additional funds for the stake. It doesn’t mean I haven’t been busy though. Between the Doubler’s Den forum and a few projects I am working on for DTAMP, I have been putting in many hours a day.

I thought I would answer a hypothetical question a reader asked in the last post.

“if a set amount of time was needed to accomplish a step, wouldn't it be logical if the same method(s) were applied then the next step would talk(take) twice as long?"

I think the answer is Yes and No. First, there is no set amount of time to worry about. Second, even when the same methods are applied, they seem to have varied results. For example, I found when collecting cans and bottles, I could spend the same amount of time collecting but happen to find a street that was a gold mine. I would collect double the amount than I had on other days. Same method, different result.

Nothing ever seems to stay constant, the variables always make calculating the completion of a project impossible. However, one needs to create new methods when the older methods become nearly totally useless in assisting in the completion of a step.

What I am finding is that, amazingly, when a new method is needed, it seems to mysteriously pop up. Sort of, it isn’t there, until the need for it to be there, arrives. One need not worry whether the provision will be forthcoming for the future for it will be there when it is needed. You could call it faith when you just don’t worry about the fulfillment of the future need.

Present Stake: $192.19

Motto: It is only "one" found penny.



This Double a Penny to a Million Blog is based upon the Doubling Plan "How to Double Your Way to a £Million in 28 Steps". It is an attempt to "Double Your Way to a Million" by going from one penny to one million dollars, starting from nothing. At the beginning you start by finding that Million Dollar Penny and then double that Lucky penny until reaching $1,000,000.

How to Double Your Way to a Million in 28 Steps
D.T.A.M.P. - Double To A Million Plan

"For The Next Chronological Post Click Here"

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Anonymous Arkad said...

Your thought on things "mysteriously popping up" are very interesting, as I have experienced the same thing.

A couple of years ago, I read Think and Grow Rich by Napolean Hill but was skeptical of the text. Around the time I started my Doubling Project, I read it again and wondered if the strategies contained in the book really did have some validity. I decided to try them.

The information in Hill's book was backed up by Stuart Goldsmith's Midas Method that I have read recently adding more fuel to the fire.

From my limited experience of these techniques, I have been amazed at the results. I don't want to go into too many details here but all that desire, faith, autosuggestion, goal-setting and visualization "bollocks" really does seem to work!

The Richest Man in Atherstone

Saturday, February 24, 2007 5:07:00 PM  
Blogger Xinfinitum said...

Thanks for your comments Arkad.

I have found that timing is the crucial element that is outside of man's control and domain. All that we can do, is be prepared in any way we can, so that when the moment arrives and we find ourselves in the right place at the right time, we can take full advantage of all the practice we put into honing our talents.


Saturday, February 24, 2007 7:02:00 PM  
Anonymous Anonymous said...

I'm going to attempt another post (if i can decipher the word verification). ;o)

I feel you hit the nail on the head, Xin. To be prepared for when the opportunity presents itself. All too often we do not prepare: observe, read, study, learn, grow NOW. some of the "luckier" of us, those that get an opportunity, may try to do those things during said opportunity and may lose out.

There may be, at least for me, more to your comment than I initially see. Practice.

"Perfect practice makes one perfect." I have issues with this one, but it has some merit.

Odds and ends:

1. feel free to correct my typo talk == take.
2. Richest Man in Babylon suggested 25% return (on the "coins in your purse") every 4 years. This is from memory, again, correct if need be. Assuming my mem is ok, that works out to 5.74% compounded annually.
3. Buffett - he "buys for life." hasn't even sold his own BRK.A shares, AFAIK. side note: i mention Mr. B per the topic of investing and that he is regarded as the best investor ever. He studied, was prepared and was given many an opportunity. Regardless, there were trade-offs... such that may not be to our liking.
4. Did you hold on to those shares? (I don't want to know) A stop loss may be something to consider, but then we may be entering speculation vs. investing.
5. Suze Orman gave an answer to a Q I can only guess at now (but it will be helpful i promise). Hold on to your shares if you are willing to buy more at the current price. Consider selling if you are absolutely certain you wouldn't.
6. "Easy come easy go." If we *practice* speculating or even gambling, and *win* how do we stop and walk away? it wasn't earned. We won't respect it. Furthermore, we will have the *feeling* we can do it again.
7. worry is a bad thing. worry that causes inaction is even worse. i was thinking about a spreadsheet in regard to time with a manual override for actual performance, but it seems that it would only foster worry or anxiety.

I've rambled enough. peace & 42

Sunday, February 25, 2007 3:18:00 AM  
Blogger Xinfinitum said...

Thanks Anonymous for your comments. You leave alot to think about and ponder.

I do still hold the stocks, I didn't sell them.

I started by using what I call the intermittent pop method and I will hold the stocks until the next pop at which time I will sell.

If the stocks do pop, which many of them do from time to time, I will have followed my initial plan. If they fail to pop and the company dies out and the stock becomes worthless then that will be one of the factors I took into account.

I must confess though that, although I thought I wouldn't mind sitting and watching for the pop, it is taking a long time and I am not enjoying the sitting and waiting after all. :-)

Plus it didn't help that, not only they didn't pop but also became worth a fraction of what I paid for them, at least one of them has. The other one is only down a little and could recover.


Sunday, February 25, 2007 1:22:00 PM  
Anonymous Arkad said...

I'm curious as to who you are, Anonymous. I've read two of your comments and I find them very interesting. Is there anywhere I can read more of your ideas?

The Richest Man in Atherstone

Sunday, February 25, 2007 2:23:00 PM  
Anonymous Anonymous said...

I really do believe you both are on to something. Not just with this plan, but your attack. You are keeping your minds open and getting rid of things that hold you back, worry etc.

Also, you are SHARING! that is marvelous.

I haven't posted much on these boards, but that shouldn't matter too much. Compliments appreciated, but they really aren't my ideas. I've tried to give credit where it was due: Buffett (via Lowenstein), Orman (via PBS: yfb), Richest Man in Babylon.

I just finished reading the book on Buffett. Never really knew who he was. The book was more biography than cookbook on how to become the 2nd richest man in the world, but still very interesting. FYI the book was recommended by

There is something called a stop-loss and a trailing stop loss. I've no experience in these, but their existence makes sense and there should be ways to walk away and free up time.

Perhaps I'm too enamoured with the stock market. Legalized gambling? Still, "value investing" looks very intriguing.

Other post(s), I commented to step#7,

I tend to be wordy, distracted and a distraction. Keep your focus.

Glad I've been helpful.

peace & 42

Monday, February 26, 2007 12:22:00 AM  

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