My dentist asked me for a hot tip

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My dentist asked me for a hot tip

Postby Abe » Tue Jul 16, 2013 3:52 pm

Apparently my dentist thinks I know more than I actually do. He asked me if I had a "hot tip" for him. I just smiled and laughed it off. I didn't quite know what to tell him. I didn't want to get into a long discussion about why he shouldn't be looking for hot tips. Or trying to explain that I would be the last one to have privileged information or whatever. Anyone have any suggestions on how to handle something like this. Just curious as to what others think.
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Re: My dentist asked me for a hot tip

Postby TomatoTomahto » Tue Jul 16, 2013 3:54 pm

I usually deflect it by suggesting "buy low, sell high."
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Re: My dentist asked me for a hot tip

Postby BigOilTexan » Tue Jul 16, 2013 3:55 pm

China Natural Resources, Inc.
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Re: My dentist asked me for a hot tip

Postby SP-diceman » Tue Jul 16, 2013 3:58 pm

Abe wrote: Anyone have any suggestions on how to handle something like this.


I'd tell him I didnt have any tips, after the dental work!
:happy
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Re: My dentist asked me for a hot tip

Postby Abe » Tue Jul 16, 2013 4:00 pm

Thanks all. These are all good ideas. I could say something like, "only invest in things that make money". :)
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Re: My dentist asked me for a hot tip

Postby greenspam » Tue Jul 16, 2013 4:04 pm

"Scorpio Dog", horse #5 in 5th race tonight at Presque Isle Downs, 15-1 odds, put a Benjamin on the nose to win.
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Re: My dentist asked me for a hot tip

Postby livesoft » Tue Jul 16, 2013 4:07 pm

I always answer: Index funds.
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Re: My dentist asked me for a hot tip

Postby Abe » Tue Jul 16, 2013 4:07 pm

greenspam wrote:"Scorpio Dog", horse #5 in 5th race tonight at Presque Isle Downs, 15-1 odds, put a Benjamin on the nose to win.


#5 in the 5th race. Thanks for the tip. :greedy
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Re: My dentist asked me for a hot tip

Postby Ged » Tue Jul 16, 2013 4:10 pm

Abe wrote:I didn't quite know what to tell him.


Tell him Bogleheads.org.
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Re: My dentist asked me for a hot tip

Postby hicabob » Tue Jul 16, 2013 4:12 pm

That's easy - Sirona Dental - at least that's what my dentist always give to me as her "hot tip". I've never looked it up but the Cerec milling machines are very cool though.
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Re: My dentist asked me for a hot tip

Postby Alphahead » Tue Jul 16, 2013 4:13 pm

When I get that question, I tell them that the secret to investing is as simple as the secret to weight loss; eat sensible and exercise.

All you have to do is spend less, invest more, and buy the total market.

Not sexy, but it works! :D
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Re: My dentist asked me for a hot tip

Postby Chris M » Tue Jul 16, 2013 4:15 pm

FDIC insured CD. He takes a drill to your teeth--you don't want to suggest anything that could cause him to lose money.
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Re: My dentist asked me for a hot tip

Postby Redstorm » Tue Jul 16, 2013 4:21 pm

Abe wrote:Apparently my dentist thinks I know more than I actually do. He asked me if I had a "hot tip" for him. I just smiled and laughed it off. I didn't quite know what to tell him. I didn't want to get into a long discussion about why he shouldn't be looking for hot tips. Or trying to explain that I would be the last one to have privileged information or whatever. Anyone have any suggestions on how to handle something like this. Just curious as to what others think.


Tell him

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Re: My dentist asked me for a hot tip

Postby wilpat » Tue Jul 16, 2013 4:35 pm

Tell him to invest in Iranian War Bonds!
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Re: My dentist asked me for a hot tip

Postby stemikger » Tue Jul 16, 2013 4:36 pm

You can start it with a little joke like put everything on 7 Black at the Borgata, but then after that just tell him you don't do that kind of investing because in your experience it is no different then putting everything on 7 Black and then give him the Bogleheads site if he seems interested.
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Re: My dentist asked me for a hot tip

Postby shmidds » Tue Jul 16, 2013 4:53 pm

Don't take any wooden teeth.
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Re: My dentist asked me for a hot tip

Postby jon-nyc » Tue Jul 16, 2013 5:05 pm

Tell him to floss every day.
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Re: My dentist asked me for a hot tip

Postby Khanmots » Tue Jul 16, 2013 5:09 pm

Costs Matter
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Re: My dentist asked me for a hot tip

Postby JDaniels » Tue Jul 16, 2013 5:23 pm

Tell him to visit http://www.whitecoatinvestor.com

Great website for everyone but the name will obviously tell him it's especially geared for those in the medical field.
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Re: My dentist asked me for a hot tip

Postby cheese_breath » Tue Jul 16, 2013 5:39 pm

Don't spit into the wind....

OT.. Who remembers the dentist's spit sinks?
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Re: My dentist asked me for a hot tip

Postby Bradley » Tue Jul 16, 2013 6:21 pm

I would recommend he read Power of Passive Investing, that should give him the knowledge to avoid active investing.

http://www.amazon.com/The-Power-Passive ... +investing
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Re: My dentist asked me for a hot tip

Postby frugaltype » Tue Jul 16, 2013 6:39 pm

This is why dentists and doctors are notoriously bad with managing their own money (sorry ones who are here.)
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Re: My dentist asked me for a hot tip

Postby Grt2bOutdoors » Tue Jul 16, 2013 8:26 pm

A hot tip? Why, that's what he'll have after he's done drilling your bicuspid. :D
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Re: My dentist asked me for a hot tip

Postby telemark » Tue Jul 16, 2013 9:36 pm

Keep your costs low, diversify, and don't try to time the market.
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Re: My dentist asked me for a hot tip

Postby inbox788 » Tue Jul 16, 2013 10:04 pm

Starwood!
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Re: My dentist asked me for a hot tip

Postby Jim180 » Tue Jul 16, 2013 10:31 pm

Tell him to avoid individual stocks. Especially the ones that all the "talking heads" seem to like.
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Re: My dentist asked me for a hot tip

Postby Bmac » Tue Jul 16, 2013 10:49 pm

I'm trying to think up a conversation with my dentist that would even lead to that sort of question. Is there a particular reason why he/she is of the belief that you, the OP, have some secret financial insights?
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Re: My dentist asked me for a hot tip

Postby 22twain » Tue Jul 16, 2013 11:38 pm

greenspam wrote:"Scorpio Dog", horse #5 in 5th race tonight at Presque Isle Downs,


Nah, put it in Papernick in the 8th. His fadder was a mudder. His mudder was a mudder...
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Re: My dentist asked me for a hot tip

Postby LazyNihilist » Tue Jul 16, 2013 11:45 pm

Here's the 'default' hot tip I give everyone. Vanguard LifeStrategy Moderate Growth Fund (VSMGX)
If they're willing to listen further, I get into Boglehead philosophy.
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Re: My dentist asked me for a hot tip

Postby Johm221122 » Wed Jul 17, 2013 12:33 am

Ged wrote:
Abe wrote:I didn't quite know what to tell him.


Tell him Bogleheads.org.

+1, teach a man to fish he will eat a lifetime If there really interested this site will provide them a lifetime of knowledge
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Re: My dentist asked me for a hot tip

Postby Abe » Wed Jul 17, 2013 8:22 am

Bmac wrote:I'm trying to think up a conversation with my dentist that would even lead to that sort of question. Is there a particular reason why he/she is of the belief that you, the OP, have some secret financial insights?


Where I live it's a small rural community. If someone has a little money, everyone knows it. A lot of these people think that if you have some money, you must know something that they don't. They want to know the secret. If they would only read "The Richest Man in Babylon", they would know the secret.
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Re: My dentist asked me for a hot tip

Postby Phineas J. Whoopee » Wed Jul 17, 2013 10:55 am

I choose one of two standard responses.

1) If the person is not financially sophisticated I briefly summarize the Boglehead philosophy.

2) Otherwise, my suggestion is always to short Amalgamated Alligators, and use the proceeds to buy Consolidated Crocodiles. For a dentist, if I thought of it in time, I might consider reversing the recommendation.

PJW
[Edited once to strike a word which not only didn't help, but changed the meaning enough to hurt! :oops: ]
Last edited by Phineas J. Whoopee on Wed Jul 17, 2013 12:21 pm, edited 1 time in total.
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Re: My dentist asked me for a hot tip

Postby or_investing » Wed Jul 17, 2013 11:25 am

My hot tip for a dentist is that he's more likely to lose money from fraud committed by his office staff than he is to beat the market from a hot investment tip.
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Re: My dentist asked me for a hot tip

Postby greenspam » Wed Jul 17, 2013 11:28 am

I just had to check, "Scorpio Dog" finished 9th of 11 horses in the 5th race last night... off to the glue factory...

but this thread reminds me of my former dentist who would watch CNBC and stock quotes while he was drilling my teeth....
this was during the dotcom bubble/burst.
particularly during the 'burst',
he would watch the quotes and turn red and curse about how much $$$ he was losing.

i dropped him as my dentist and shortly thereafter he got arrested for insurance fraud, tax evasion, etc.... he was overbilling insurance companies and illegally taking money out of the business,
i guess to feed his habit...he was a stock trading junkie.

spent quite a few years in jail.
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Re: My dentist asked me for a hot tip

Postby Toons » Wed Jul 17, 2013 11:39 am

Hot Tip :happy

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Re: My dentist asked me for a hot tip

Postby Bmac » Wed Jul 17, 2013 12:34 pm

Abe wrote:
Bmac wrote:I'm trying to think up a conversation with my dentist that would even lead to that sort of question. Is there a particular reason why he/she is of the belief that you, the OP, have some secret financial insights?


Where I live it's a small rural community. If someone has a little money, everyone knows it. A lot of these people think that if you have some money, you must know something that they don't. They want to know the secret. If they would only read "The Richest Man in Babylon", they would know the secret.


Abe,
Seems like your last sentence is a great answer to your original question.

If they still want more "secrets" after that, then "The Coffeehouse Investor" and "The Bogleheads Guide to Investing" also come to mind as great recommendations.
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Re: My dentist asked me for a hot tip

Postby Abe » Wed Jul 17, 2013 12:45 pm

Bmac wrote:
Abe wrote:
Bmac wrote:I'm trying to think up a conversation with my dentist that would even lead to that sort of question. Is there a particular reason why he/she is of the belief that you, the OP, have some secret financial insights?


Where I live it's a small rural community. If someone has a little money, everyone knows it. A lot of these people think that if you have some money, you must know something that they don't. They want to know the secret. If they would only read "The Richest Man in Babylon", they would know the secret.


Abe,
Seems like your last sentence is a great answer to your original question.

If they still want more "secrets" after that, then "The Coffeehouse Investor" and "The Bogleheads Guide to Investing" also come to mind as great recommendations.


Yes, I thought of that immediately after I posted it. I could tell them to read "The Richest Man in Babylon" to find the secret to wealth. That way they would have to read the book to get the secret.
Slow and steady wins the race.
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Re: My dentist asked me for a hot tip

Postby feh » Wed Jul 17, 2013 12:49 pm

Pioneer Aviation.
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