About not using a broker, I guess I am more traditional, but I feel that not using a broker is suicide. Remember, brokerage firms literally do research 24 hours a day, 7 days a week, 365 days per year. Unless you have that kind of time, I would recommend putting your money into the hands of a broker you can trust. I agree some brokers are scammers, but some a good, honest people.
The market is so complex, that not using a broker is the equivalent of not hiring an attorney. Sure you can research your ass off, but if you try to represent yourself, you have a fool for a client.
I agree that wealth is gained slowly and methodically. If you read the Warren Buffet Way, you will learn that he invests very conservatively for very long periods of time. He generally avoids tech stocks and instead prefers a good ole' fashioned solid balance sheet.
Also, I believe there is a place for risk in any portfolio, but only put in money that you would willingly flush down the toilet. If can lose 5K and still make more than ends meet, why not go high risk?
As for me, I prefer medium and small cap mutual funds for moderate risk, bonds for low risk, and high-tech stocks for high risk.
When I am out of law school, I am going to invest in more real estate, but I am still learning about that stuff right now. Tax Lien certificates seem like an exciting way to invest.
Just my 2 cents.
P.S. About not having a broker, Buffet and Lynch are brokers/managers, and some would suck their dicks just for a tip. So it isnt about having no broker, it is about having a good broker.
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"The government is good at one thing - it knows how to break your legs, and then hand you a crutch and say 'see if it weren't for the government you wouldn't be able to walk.'" Harry Browne - Former Libertarian Presidential Candidate
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