3

See for example this question.

There's a vote to close as "not a real question". The idea is silly, but I think the question is written well enough and is fairly clear. We've had some other silly ideas (I recall something about currency arbitrage a while back but can't find it now), but it seems like they deserve legit answers.

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    The question you cite is rather naive, though it is a legitimate question. (I believe that the OP would agree with that assessment.) One concern I have with such basic or silly questions is that they would not attract the type of experts that we need to make this site viable. That said, a major problem with that question is that it is not viable for most individuals and would most likely entail day trading. Though I am generally in agreement with you, I am starting to think that the question does not belong on a personal finance site. – George Marian Mar 24 '11 at 0:42
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As I see it, the problem with those types of questions is that personal finance is not about getting rich quickly. Getting rich quickly boils down to luck or inheritance. (Even responsible speculation boils down to a fair amount of luck.)

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    I think we mostly agree. I'd add that some people on the path to responsible personal finance have to figure out why the various modes of "get rich quick" don't really work out. – bstpierre Mar 24 '11 at 3:01
  • @bst Agreed. That is why I am still on the fence about it. While I feel that these topics should not be discussed on a personal finance site, there will always be those that need to educated about them. – George Marian Mar 24 '11 at 5:10
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I had voted to close this particular question, the reason being it was more of getting quick rich, and it was more into quantitative analysis of the price movement ... and there are quite a few aspects to doing it

  • Technology to build and moniter
  • The brokrage costs involved in such high volume trades
  • The amount of money to be made is small per transactions like 1-5 Cents and the volume need to be really high to make money. If the volumes become high, the price will not be stable and raise before you can execute such stuff.

So in essence its not what one would do for individual investments unless he is a professional investor and as such this site is more for individual investors.

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I also voted to close the question as "off topic" as It does not really feel like a topic for a "Personal Finance" site.

Some good Q/A might be on the site for "what are common get-rich-quick schemes and how to they fall apart" as a general warning for "Personal Finance" users, but on the whole, the discussion about the utility of specific schemes seems fairly investment oriented starts to fall into a similar camp to "should I buy X now" (although I admit in this case there is no time aspect)

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    Or "How do I know if something is legit or a get rich quick scheme?" – Alex B Mar 24 '11 at 19:05
  • @Alex B; indeed - a listing of common warning signs would be a good q/a and IMHO appropriate to the site – sdg Mar 24 '11 at 19:37
  • However, investing is a part of personal finance. We must strike a balance between investing done by an individual and more advanced techniques that would not be available to most individuals. The reason that "should I buy X now" or even "is X a good investment" are not acceptable is not because they are about investing. It is because they are too localized. (Not to mention that it opens another can of worms regarding stock tips and such.) – George Marian Mar 25 '11 at 20:06
  • @George - indeed there is a balance to be struck - which is why it takes several of us to vote something closed. :-) Seriously I don't see that this specific question was helpful or useful; but will judge them on a case-by-case for my part. – sdg Mar 25 '11 at 21:28

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