My dentist asked me for a hot tip

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Abe
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My dentist asked me for a hot tip

Post by Abe »

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.
Slow and steady wins the race.
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TomatoTomahto
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Re: My dentist asked me for a hot tip

Post by TomatoTomahto »

I usually deflect it by suggesting "buy low, sell high."
I get the FI part but not the RE part of FIRE.
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BigOilTexan
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Re: My dentist asked me for a hot tip

Post by BigOilTexan »

China Natural Resources, Inc.
Peak oil is a myth perpetrated by those who dont believe in technological innovation.
SP-diceman
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Re: My dentist asked me for a hot tip

Post by SP-diceman »

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
Last edited by SP-diceman on Tue Jul 16, 2013 5:54 pm, edited 1 time in total.
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Abe
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Re: My dentist asked me for a hot tip

Post by Abe »

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

Post by greenspam »

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

Post by livesoft »

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

Post by Abe »

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
Slow and steady wins the race.
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Ged
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Re: My dentist asked me for a hot tip

Post by Ged »

Abe wrote:I didn't quite know what to tell him.
Tell him Bogleheads.org.
hicabob
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Re: My dentist asked me for a hot tip

Post by hicabob »

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.
Alphahead
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Re: My dentist asked me for a hot tip

Post by Alphahead »

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
Chris M
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Re: My dentist asked me for a hot tip

Post by Chris M »

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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Redstorm
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Re: My dentist asked me for a hot tip

Post by Redstorm »

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

Yes, be gentle with me!
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wilpat
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Re: My dentist asked me for a hot tip

Post by wilpat »

Tell him to invest in Iranian War Bonds!
Contrary to the belief of many, profit is not a four letter word!
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stemikger
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Re: My dentist asked me for a hot tip

Post by stemikger »

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.
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!
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shmidds
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Re: My dentist asked me for a hot tip

Post by shmidds »

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

Post by jon-nyc »

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

Post by Khanmots »

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

Post by JDaniels »

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.
"The poor long for riches. The rich long for heaven. But the wise desire tranquility."
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cheese_breath
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Re: My dentist asked me for a hot tip

Post by cheese_breath »

Don't spit into the wind....

OT.. Who remembers the dentist's spit sinks?
The surest way to know the future is when it becomes the past.
Bradley
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Re: My dentist asked me for a hot tip

Post by Bradley »

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
You can sum up any active fund manager’s presentation at an investor conference in one sentence: “We’re doing well, all things considered.”
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frugaltype
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Re: My dentist asked me for a hot tip

Post by frugaltype »

This is why dentists and doctors are notoriously bad with managing their own money (sorry ones who are here.)
Grt2bOutdoors
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Re: My dentist asked me for a hot tip

Post by Grt2bOutdoors »

A hot tip? Why, that's what he'll have after he's done drilling your bicuspid. :D
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
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telemark
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Re: My dentist asked me for a hot tip

Post by telemark »

Keep your costs low, diversify, and don't try to time the market.
inbox788
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Re: My dentist asked me for a hot tip

Post by inbox788 »

Starwood!
Jim180
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Re: My dentist asked me for a hot tip

Post by Jim180 »

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

Post by Bmac »

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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22twain
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Re: My dentist asked me for a hot tip

Post by 22twain »

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...
Meet my pet, Peeve, who loves to convert non-acronyms into acronyms: FED, ROTH, CASH, IVY, ...
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LazyNihilist
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Re: My dentist asked me for a hot tip

Post by LazyNihilist »

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.
The strong do what they can and the weak suffer what they must -Thucydides
Johm221122
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Re: My dentist asked me for a hot tip

Post by Johm221122 »

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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Abe
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Re: My dentist asked me for a hot tip

Post by Abe »

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.
Slow and steady wins the race.
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Phineas J. Whoopee
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Re: My dentist asked me for a hot tip

Post by Phineas J. Whoopee »

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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or_investing
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Re: My dentist asked me for a hot tip

Post by or_investing »

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.
This space reserved for the yet-unwritten ultimate investing and personal finance truism.
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greenspam
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Re: My dentist asked me for a hot tip

Post by greenspam »

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.
as always, | peace, | greenie.
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Toons
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Re: My dentist asked me for a hot tip

Post by Toons »

Hot Tip :happy

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Bmac
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Re: My dentist asked me for a hot tip

Post by Bmac »

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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Abe
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Re: My dentist asked me for a hot tip

Post by Abe »

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.
feh
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Re: My dentist asked me for a hot tip

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Pioneer Aviation.
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