Originally Posted by Fat Elvis:
You dollar cost average is $42,333/bitcoin.
If you can't figure this shit out, you should let someone else manage your money.
My brain doesn't do number averaging very well, I can figure shit out eventually but it takes me a while to figure out the correct formulas. It's not required in my line of work that I've been in for 20+ years and school was a long time ago. Thanks for your help though. [Reply]
Originally Posted by eDave:
Who said micromanage other than you?
I'm sure you are an Adonis, so my apologies for that one and my overall point is don't make fun of retards. You know better.
If you are making every decision about every financial transaction, you are, by definition, micromanaging your money. I don't need to do that.
I have no debt; everything is paid for; I live comfortably--as long as the person managing my money keeps making money rather than losing it, why should I change things? Can I do it? Sure. Do I want to? Nope. Too many other things in life to focus on rather than money.
If someone doesn't have a basic skill in an area, it probably in their best interest to have someone with more knowledge about that subject do the task for you. I'm not good at fixing cars. Because I'm not good at fixing cars, I let someone else do maintenance on my car.
I never called anyone the R-word. I never called anyone stupid. Those are *your* words. You just took offense and jumped to conclusions.
I assume you think I'm fat because of my user name? Do you also think I have sideburns and wear jumpsuits? [Reply]
I think I'm doing very well managing my own money, I proved it earlier in this thread. You dont need to remember averaging cost formulas off the top of your head to be good with money. [Reply]
Originally Posted by Fat Elvis:
You dollar cost average is $42,333/bitcoin.
If you can't figure this shit out, you should let someone else manage your money.
Seems to have gotten a little testy in here, so I hate to mention that this isn’t really correct. Put it in a spreadsheet yourself and you’ll see that at this price his investment is still positive about $95. The problem is you are taking the weighted average of the amount invested and the share/coin price. What you need to do is take the weighted average of the number of shares/coins and share/coin price. The real answer is roughly $41,674. [Reply]
Originally Posted by Third Eye:
Seems to have gotten a little testy in here, so I hate to mention that this isn’t really correct. Put it in a spreadsheet yourself and you’ll see that at this price his investment is still positive about $95. The problem is you are taking the weighted average of the amount invested and the share/coin price. What you need to do is take the weighted average of the number of shares/coins and share/coin price. The real answer is roughly $41,674.
Originally Posted by Third Eye:
Seems to have gotten a little testy in here, so I hate to mention that this isn’t really correct. Put it in a spreadsheet yourself and you’ll see that at this price his investment is still positive about $95. The problem is you are taking the weighted average of the amount invested and the share/coin price. What you need to do is take the weighted average of the number of shares/coins and share/coin price. The real answer is roughly $41,674.
Plug it into your spreadsheet that you linked. It says that I am right.
edit: My mistake...it was eDave that posted the link and not you. [Reply]