Two Comma Club

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Re: Two Comma Club

Postby stemikger » Sat Jan 26, 2013 1:52 am

baw703916 wrote:
VictoriaF wrote:And those with three commas would get an extra one for the mouth?

Victoria


They get to hang out with the mascots of the company that makes the T-shirts! :sharebeer

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I love Warren. However, if I was in his shoes I would be hanging out with Playboy Bunnies not FOTL Mascots. LOL.
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Re: Two Comma Club

Postby stemikger » Sat Jan 26, 2013 1:54 am

Frugaldude wrote:
mickeyd wrote:Don't get too excited about such short-term accomplishments as they can go away just as quickly.


Is that you, Charlie Munger? :)

:) :D
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Re: Two Comma Club

Postby Billyboy » Sat Jan 26, 2013 4:18 am

Congrats to all who have achieved the Two Comma Club and those working towards it. It takes a lot of being thrifty, patience and a lot of luck. I started investing when I was in my early twenties. Like some of the others reporting, every time I would get a raise, I would increase my contribution to my tax deferred plan. It's been so long ago, I doubt it was called a 401k plan. I'm now 69 and reached $1,000,000 in financial assets at age 55. I retired at age 61 and reached $2,000,000+ at age 68. This was accomplished on just an average salary. Several years before I retired, I made a little over $75,000/yr. The economy and our business wasn't in the greatest shape, so during the last 3 years of working my income did not increase.
In my case, I didn't follow the Boglehead philosophy of diversification. I was 100% in equities until about the age of 58 or so. In fact, most of it was in my company stock. You might say I lucked out using that strategy. I'm currently 48% equities (diversified) and 52% bonds. I intend to keep it around 50/50+/- through re-allocation, withdrawals, etc.
I made a lot of miss-steps along the way. At one point, I was down over $400,000 because of not being diversified; however, I stuck it out, never contemplated getting out and luckily the market came back at which point I started diversifying.
Good luck to all in your investing endeavors. :moneybag
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Re: Two Comma Club

Postby scubadiver » Sat Jan 26, 2013 10:45 am

Congrats!

DW and I are hopeful about joining that club someday as well. We're a little over halfway there now and can certainly appreciate the work (and patience) it takes to make it. Well Done!
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Re: Two Comma Club

Postby jojay » Sat Jan 26, 2013 1:38 pm

Congratulations!!

As you can see from the speed of the posts being applied, the $m mark is a recognized milestone. You did it- good for you.
We might have been separated at birth - my wife and I also went over the 2 comma spot on Wednesday of this week. I know how you feel.

It took and still will take forgoing some of the things that others chose to acquire rather than save. Not judging, just mentioning that for most folks, reaching $m requires planning, discipline and long term management.

Remember when you had $40k in assets and were giddy to think that a 10% annual return was going to result in $4k in return. To think that you can now manage a $100k in return each year is mind boggling. Your return alone is likely multiples of what your entire salary was when you started.

Congratulations, again. You should be proud of yourself. You're a millionaire!!
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Re: Two Comma Club

Postby sscritic » Sat Jan 26, 2013 1:44 pm

jojay wrote: my wife and I also went over the 2 comma spot on Wednesday of this week.

Two commas divided between two people is one comma each. My granddaughter in third grade has those types of problems, but they usually use bigger numbers.
Six cookies are divided between three children. How many cookies does each child get?

In a community property state, you would each have 1.9 commas.
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Re: Two Comma Club

Postby jojay » Sat Jan 26, 2013 1:52 pm

My wife and I are 1.
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Re: Two Comma Club

Postby sscritic » Sat Jan 26, 2013 1:57 pm

jojay wrote:My wife and I are 1.

Do you file jointly and take two exemptions?
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Re: Two Comma Club

Postby sscritic » Sat Jan 26, 2013 1:59 pm

Seriously, if a single person has two commas, shouldn't a married couple need four commas to be the equivalent?
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Re: Two Comma Club

Postby sscritic » Sat Jan 26, 2013 2:00 pm

jojay wrote:My wife and I are 1.

Wait until after the divorce. Then try counting your commas.
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Re: Two Comma Club

Postby peppers » Sat Jan 26, 2013 2:18 pm

sscritic wrote:
jojay wrote:My wife and I are 1.

Wait until after the divorce. Then try counting your commas.


After the divorce you might be in a coma.
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Re: Two Comma Club

Postby Harold » Sat Jan 26, 2013 2:41 pm

sscritic wrote:Seriously, if a single person has two commas, shouldn't a married couple need four commas to be the equivalent?

This is the part that probably amuses me the most about the "millionaire" discussions.

Seems to me we ought to skip the investing part, and just advise single people at the mid-one comma range to find another single person at the mid-one comma range, have a quickie wedding. Then BOOM they're both millionaires!

Actually, given the bragging rights involved -- we really ought to see more proponents of polygamy.
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Re: Two Comma Club

Postby sscritic » Sat Jan 26, 2013 2:55 pm

Here's the quick way for a married couple to get to two commas from the middle of one comma. Have the spouse with the life insurance policy on their life die. BOOM the survivor is a millionaire!

Now for there to be a married couple with a million, the survivor has to remarry, otherwise we just have one more single millionaire.
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Re: Two Comma Club

Postby jbk » Sat Jan 26, 2013 3:22 pm

sscritic wrote:Seriously, if a single person has two commas, shouldn't a married couple need four commas to be the equivalent?


Probably going off on a tangent here, but I would suggest that two people don't need two separate houses (unless you're a celebrity couple), don't take separate vacations, etc. etc. I know they talk about the "marriage penalty" in terms of taxes, but in some respects isn't it possible for money to go further when expenses are pooled between two people?
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Re: Two Comma Club

Postby BolderBoy » Sat Jan 26, 2013 3:24 pm

sscritic wrote:
jojay wrote:My wife and I are 1.

Wait until after the divorce. Then try counting your commas.


One of the chapter headings in one of the Boglehead books is entitled, "Divorce and other financial disasters". There is a reason for that.
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Re: Two Comma Club

Postby 22twain » Sat Jan 26, 2013 3:46 pm

stemikger wrote:I love Warren. However, if I was in his shoes I would be hanging out with Playboy Bunnies


Like that millionaire oilman who married Anna Nicole Smith? :mrgreen:

(and then died thirteen months later...)
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Re: Two Comma Club

Postby stemikger » Sat Jan 26, 2013 3:51 pm

22twain wrote:
stemikger wrote:I love Warren. However, if I was in his shoes I would be hanging out with Playboy Bunnies


Like that millionaire oilman who married Anna Nicole Smith? :mrgreen:

(and then died thirteen months later...)


He was my idol. LOL. Or Donald Trump. LOL.

I mean really, a Trophy Wife needs to be employed too. If everyone was like Warren they will all be out of business.
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Re: Two Comma Club

Postby Van » Sat Jan 26, 2013 3:59 pm

I wonder if I'm correct in guessing that there are NO Bogleheads in the 3 comma club?

I can't imagine someone in that club worrying, for example, about whether to shorten or lengthen the average duration of their bond fund holdings!
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Re: Two Comma Club

Postby Sheepdog » Sat Jan 26, 2013 4:15 pm

Carl A,
Congratulations. It is quite a feeling isn't it? We reached our 2 commas in mid 2012, in my 14th year of retirement even while living off of that nestegg. That was never a goal, it just got there surprisingly.
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Re: Two Comma Club

Postby baw703916 » Sat Jan 26, 2013 4:24 pm

Van wrote:I wonder if I'm correct in guessing that there are NO Bogleheads in the 3 comma club?

I can't imagine someone in that club worrying, for example, about whether to shorten or lengthen the average duration of their bond fund holdings!


They probably would have reason to be concerned with tax efficiency and excessive fees.
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Re: Two Comma Club

Postby BigFoot48 » Sat Jan 26, 2013 4:31 pm

Van wrote:I wonder if I'm correct in guessing that there are NO Bogleheads in the 3 comma club?

John Bogle might be!
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Mr. Bogle and the comma clubs ?

Postby Taylor Larimore » Sat Jan 26, 2013 4:40 pm

Big Foot:

I doubt if Mr. Bogle is in the three comma club. Jack set-up Vanguard so that there are no owners except the fund shareholders themselves. For many years Jack has given at least half his income to charity.

In our book, "The Bogleheads' Guide to Investing," we wrote in the beginning:

"To John C. Bogle, founder of the Vanguard Group: A man whom we knew from afar for many years but have since come to know and cherish as a friend. While some mutual fund founders chose to make billions, he chose to make a difference."

Best wishes.
Taylor
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Re: Two Comma Club

Postby hicabob » Sat Jan 26, 2013 4:43 pm

jbk wrote:
sscritic wrote:Seriously, if a single person has two commas, shouldn't a married couple need four commas to be the equivalent?


Probably going off on a tangent here, but I would suggest that two people don't need two separate houses (unless you're a celebrity couple), don't take separate vacations, etc. etc. I know they talk about the "marriage penalty" in terms of taxes, but in some respects isn't it possible for money to go further when expenses are pooled between two people?


Depending on the second person I would expect so - The second adding from perhaps 25 to 100% of solo expenses ?
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Re: Mr. Bogle and the comma clubs ?

Postby stemikger » Sun Jan 27, 2013 8:11 am

Taylor Larimore wrote:Big Foot:

I doubt if Mr. Bogle is in the three comma club. Jack set-up Vanguard so that there are no owners except the fund shareholders themselves. For many years Jack has given at least half his income to charity.

In our book, "The Bogleheads' Guide to Investing," we wrote in the beginning:

"To John C. Bogle, founder of the Vanguard Group: A man whom we knew from afar for many years but have since come to know and cherish as a friend. While some mutual fund founders chose to make billions, he chose to make a difference."

Best wishes.
Taylor


+1

This sounds like the secret to happiness if there ever was one. I know nothing in life is black and white but this is probably the closest you can come. Mr. Bogle has something that many billionaires will never have - Enough! Sorry I couldn't resist.
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Re: Two Comma Club

Postby rustymutt » Sun Jan 27, 2013 10:33 am

Two cool. Way to go.
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Re: Two Comma Club

Postby ofcmetz » Sun Jan 27, 2013 11:10 am

Congrats OP, thanks for sharing your story. Really cool that you got there after retirement. As a member of the 1.8 comma club, I just need to double twice to get those extra 0.2 commas.
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Re: Two Comma Club

Postby bhgeee » Sun Jan 27, 2013 11:58 am

Congrats, it's a good feeling when you hit a milestone you've been working for.
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Re: Two Comma Club

Postby bogleblitz » Sun Jan 27, 2013 3:56 pm

If I count my own house and my parents house (which is under my name). Then I'm in 2 comma club. Otherwise still many years to go.
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Re: Two Comma Club

Postby Garco » Sun Jan 27, 2013 5:03 pm

May I add a new-comer's congratulations to the OP. I'm at about 2.1 commas (ca. $2M) in my retirement accounts, and did consider it a significant day when I reached 2 commas for the first time, as well as the second time, and the third time. Yes, I fell below the barrier twice after first achieving it, due to my exposure during the last two recessions.

I think not only staying the course but also surviving the course is critical. I didn't always do things right with my investments. But I had a decent paying job, and kept in it. And because I've not only learned better to stay the course but just as importantly because I was able to keep on earning and contributing to my retirement funds (til next year, when I plan to retire), I've had a chance to recover and consolidate my investments. An unexpected reserve seems to be coming my way in the form of a bequest. But that's due to pure "luck." And I need a different strategy for investing taxable funds than I've used with the mainly tax-deferred funds that I now have.
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Re: Two Comma Club

Postby relentless » Sun Jan 27, 2013 5:35 pm

Congratulations to OP!

I am personally well established in the NEGATIVE ONE comma club (and anticipate being here for another couple years with well over 6 figures of student loans). I actually can't wait to hit zero net worth and will probably post here to celebrate when I do!

Reaching POSITIVE two commas is definitely an accomplishment to be celebrated.
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Re: Two Comma Club

Postby Sunny Sarkar » Sun Jan 27, 2013 5:40 pm

sscritic wrote:Seriously, if a single person has two commas, shouldn't a married couple need four commas to be the equivalent?

Wouldn't two commas starting with the digit 2 do it?
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Re: Two Comma Club

Postby Sunny Sarkar » Sun Jan 27, 2013 5:45 pm

BigFoot48 wrote:
Van wrote:I wonder if I'm correct in guessing that there are NO Bogleheads in the 3 comma club?

John Bogle might be!

Bogle can't be Boglehead - circular dependency :P
So, Van's hypothesis holds regardless of Jack Bogle's net worth.
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Re: Two Comma Club

Postby SGM » Sun Jan 27, 2013 5:55 pm

I believe James Taylor is a 3 comma man

"Comma, comma, comma, com, com, yeah, yeah, yeah. Comma, comma, comma, com, ... com, com, yeah, yeah, yeah"
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Re: Two Comma Club

Postby Harold » Sun Jan 27, 2013 6:00 pm

And of course those poor (and even decidedly not poor) saps in South America and continental Europe are stuck in the one comma club forever ...
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Re: Two Comma Club

Postby ResNullius » Sun Jan 27, 2013 6:09 pm

Sunny Sarkar wrote:
sscritic wrote:Seriously, if a single person has two commas, shouldn't a married couple need four commas to be the equivalent?

Wouldn't two commas starting with the digit 2 do it?

Yeah, $99,000,000 would just about do it for most folks.
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Re: Two Comma Club

Postby sscritic » Sun Jan 27, 2013 6:13 pm

SGM wrote:I believe James Taylor is a 3 comma man

"Comma, comma, comma, com, com, yeah, yeah, yeah. Comma, comma, comma, com, ... com, com, yeah, yeah, yeah"

James Taylor is a cover artist.
"Handy Man" is a rock and roll song credited to singer Jimmy Jones and songwriter Otis Blackwell. It was originally recorded by The Sparks Of Rhythm, a group Jones had been a member of when he wrote it, although he was not with them when they recorded it. In 1959, Jones recorded the song himself, in a version which had been reworked by Blackwell, who also produced the session. "Handy Man" went to number three on the R&B charts and number two on the Billboard Hot 100 in 1960, becoming a million seller. The song is noted for the "Come-uh come-uh come-uh come come,/Yeagh Yeagh Yeagh", heard in the introduction and the coda. The song was a hit again in 1964 for Del Shannon


James Taylor is also very slow.
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Re: Two Comma Club

Postby SGM » Sun Jan 27, 2013 9:30 pm

Thanks sscritic... I couldn't remember the priors and betters than James Taylor.

Another 3 comma club member was my high school typing teacher.

aaa sss ddd fff hhh jjj kkk lll comma comma comma .......
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Re: Two Comma Club

Postby 555 » Sun Jan 27, 2013 10:14 pm

relentless wrote:"Congratulations to OP!

I am personally well established in the NEGATIVE ONE comma club (and anticipate being here for another couple years with well over 6 figures of student loans). I actually can't wait to hit zero net worth and will probably post here to celebrate when I do!

Reaching POSITIVE two commas is definitely an accomplishment to be celebrated."


What was your major? Negative one comma would be a tenth of a cent. $100,000 would be 5/3+ (pi / ln 1000)i commas.
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Re: Two Comma Club

Postby TravelforFun » Sun Jan 27, 2013 10:24 pm

555 wrote:
What was your major? Negative one comma would be a tenth of a cent. $100,000 would be 5/3+ (pi / ln 1000)i commas.

Don't confuse him.
1 comma = 1,000 to 999,000
2 commas = 1,000,000 to 999,000,000
3 commas = 1,000,000,000 up
negative 1 comma = -1,000 to -999,000
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Re: Two Comma Club

Postby sscritic » Sun Jan 27, 2013 10:49 pm

TravelforFun wrote:
555 wrote:
What was your major? Negative one comma would be a tenth of a cent. $100,000 would be 5/3+ (pi / ln 1000)i commas.

Don't confuse him.
1 comma = 1,000 to 999,000
2 commas = 1,000,000 to 999,000,000
3 commas = 1,000,000,000 up
negative 1 comma = -1,000 to -999,000

Who is confused?
1 comma = 10^(3x1) = 1,000
2 commas = 10^(3x2) 1,000,000
0 commas = 10^(3x0) = 0
-1 comma = 10^( 3x(-1)) = 0.001

Note that -1 comma is not - (1 comma).
- (1 comma) is (-1 - comma) by the distributive law.
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Re: Two Comma Club

Postby RenoJay » Sun Jan 27, 2013 10:51 pm

Contrats. The first mil is the hard one. The next one will hopefully come much quicker and easier.
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Re: Two Comma Club

Postby FedGuy » Sun Jan 27, 2013 11:12 pm

SGM wrote:Another 3 comma club member was my high school typing teacher.

aaa sss ddd fff hhh jjj kkk lll comma comma comma .......


Was your teacher drunk, or were you using non-standard keyboards that had the comma where the semi-colon should be?
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Re: Two Comma Club

Postby HomerJ » Sun Jan 27, 2013 11:42 pm

Joe S. wrote:Congratulations.
Buy one of these on E-bay and you can be in the 4 comma club...
Image

http://www.ebay.com/itm/100-Trillion-Zi ... 19d83a8947


Buy ten of them and you can be in the 5 comma club... :)
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Re: Two Comma Club

Postby MatSci » Mon Jan 28, 2013 1:58 am

BigFoot48 wrote:
CarlZ993 wrote:I remember those days! When we got married, my folks gave us a check for $1,000. We were so happy to have a comma. I was a starving Grad student at the time who worked part-time and had some GI Bill money coming in.

Wow, you were rolling in dough! We got $100 from my mother and $100 from her parents and after paying about $75 in wedding costs we had about $350 to our names. Luckily I worked at a pizza joint while going to college and we had plenty to eat! The owner loaned me $500 when I left for my first job out of college which paid the rent until I got my first paycheck. God bless Richard Dermer.


Mmmm, Hideaway pizza! I haven't been to Stillwater in a long time, but if you had Hideaway pizza to eat, you were rich even without commas. Now, I'm really craving one of their pizzas.
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Re: Two Comma Club

Postby BigFoot48 » Mon Jan 28, 2013 2:33 am

MatSci wrote:Mmmm, Hideaway pizza! I haven't been to Stillwater in a long time, but if you had Hideaway pizza to eat, you were rich even without commas. Now, I'm really craving one of their pizzas.

We were rich, and didn't even appreciate it until years later! Had our last pizza there at the 50th anniversary celebration a few years ago. Mmmm, pizza!
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Re: Two Comma Club

Postby TravelforFun » Mon Jan 28, 2013 2:46 am

sscritic wrote:1 comma = 10^(3x1) = 1,000
2 commas = 10^(3x2) 1,000,000
0 commas = 10^(3x0) = 0
-1 comma = 10^( 3x(-1)) = 0.001

Note that -1 comma is not - (1 comma).
- (1 comma) is (-1 - comma) by the distributive law.


No no no! From a financial standpoint, one comma represents any number that contains one comma; Hence the range $1,000 to $99,000. Therefore, negative one comma is any number from -$1,000 to -$99,000.
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Re: Two Comma Club

Postby SGM » Mon Jan 28, 2013 6:39 am

FedGuy wrote:
SGM wrote:Another 3 comma club member was my high school typing teacher.

aaa sss ddd fff hhh jjj kkk lll comma comma comma .......


Was your teacher drunk, or were you using non-standard keyboards that had the comma where the semi-colon should be?


FedGuy... well noted. Might you be a little :wink: obsessive-compulsive? H is also not a home key. I think OCD people are probably better investors.

The semi-colon is so seldom used, my teacher rarely repeated it except when talking about the home keys. Repeating semi-colon three times would be counterproductive and slow down typing speed.
Speed with accuracy was the goal.

My teachers were often drunk (who could blame them?), but usually not until after regular school hours.
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Re: Two Comma Club

Postby VictoriaF » Mon Jan 28, 2013 8:21 am

sscritic wrote:
TravelforFun wrote:
555 wrote:
What was your major? Negative one comma would be a tenth of a cent. $100,000 would be 5/3+ (pi / ln 1000)i commas.

Don't confuse him.
1 comma = 1,000 to 999,000
2 commas = 1,000,000 to 999,000,000
3 commas = 1,000,000,000 up
negative 1 comma = -1,000 to -999,000

Who is confused?
1 comma = 10^(3x1) = 1,000
2 commas = 10^(3x2) 1,000,000
0 commas = 10^(3x0) = 0
-1 comma = 10^( 3x(-1)) = 0.001

Note that -1 comma is not - (1 comma).


So far so good.

sscritic wrote:Note that -1 comma is not - (1 comma).
- (1 comma) is (-1 - comma) by the distributive law.


Is this a correct interpretation of the distributive law for -(1 comma):
-(1 comma) = (-1 - comma) = -1 - (comma) = -1 - (1,000 to 999,999) = -1,001 to -1,000,000, or
-$1,000,000 <= x <= -$1,001

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Re: Two Comma Club

Postby VictoriaF » Mon Jan 28, 2013 8:24 am

TravelforFun wrote:
sscritic wrote:1 comma = 10^(3x1) = 1,000
2 commas = 10^(3x2) 1,000,000
0 commas = 10^(3x0) = 0
-1 comma = 10^( 3x(-1)) = 0.001

Note that -1 comma is not - (1 comma).
- (1 comma) is (-1 - comma) by the distributive law.


No no no! From a financial standpoint, one comma represents any number that contains one comma; Hence the range $1,000 to $99,000. Therefore, negative one comma is any number from -$1,000 to -$99,000.


Even if you disagree with sscritic, you should think big, as big as -$999,999 ;-).

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Re: Two Comma Club

Postby sscritic » Mon Jan 28, 2013 8:44 am

TravelforFun wrote:No no no! From a financial standpoint, one comma represents any number that contains one comma; Hence the range $1,000 to $99,000. Therefore, negative one comma is any number from -$1,000 to -$99,000.

I do my finances in excel. In excel, there is no such thing as a one comma number; all numbers have zero commas. I type in 100000000 and excel knows what to do. Of course, in much of the world, $32.456.324,03 is a one comma number. Then again, the ISO recommends no comma for all numbers: 1 234 567.543 342
the space is recommended in the SI/ISO 31-0 standard,[12] and the International Bureau of Weights and Measures states that "for numbers with many digits the digits may be divided into groups of three by a thin space, in order to facilitate reading. Neither dots nor commas are inserted in the spaces between groups of three".
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