We may all be eating at McDonalds before long. They are the only one of my stocks moving skyward in this mess. Gold took a big leap this morning as well, up $31.
The news does not encourage investing in a positive future for the market.
Drudge sidelines:
Largest ever EU rebellion rocks British PM... Bloody nose for Cameron... 'Unknown territory' if summit fails... Finance ministers cancel meeting... Italian gov't on brink of collapse...
In stories:
"Consumer confidence unexpectedly dropped to its lowest level in two-and-a-half years in October as consumers fretted about job and income prospects."
IMO Consumers are not apt to flip TV sets the way they are cell phones and IPods. I'm confused here. Is Apple developing a TV set or a set top box? If it's a TV set forget it. There will be very few that will go out and switch sets for an ease of search and in TV sets folks just want a great pix and adequate sound.. If it's a set-top box than it's guing to have to have a myriad of advances over what Directv and the Cable guys have. Most of America is cable and the business modeI there is the same as the cell phone - give away the box and people are hooked on the service. Suddenly to pay hundreds of dollars for a set top box (and a lot more for a multitude of them) is asking a lot and I doubt consumers rush out on this one. I also find it very easy to seach for movies and various other things on cable. I have a DVD player to search the internet but frankly I'm not interested in doing much of that when I watch TV. TV is passive and for many it's a family event with 2 or more watching. The internet is an active experience, more like work. I think it's great that they come together but in my experience I'm in a totally different frame of mind while watcing TV and so are many Americans. I've read a bunch of studies in which over 50% of people that watch a DVR'd program sit right thru the commercials because they are so passive.
Man did Netflix ever blow it with that absurd pricing policy. What the heck were they ever thinking? One of the worst management forays in history. The stock is down another $41 to $77 from $300 in the summer..
What do you think? The news from Europe this morning stinks. Are you ready to pull the trigger and sell your stocks? What about AAPL?
Sitting thru rght now. If I make a move out it's with my mutuals. Apple is headed for its greatest quarter ever and they now are up to 82bln in cash. I see no reason to sell out Apple here unless you want to play tthe in and out game and most folks that do that get burned. Yesterday was a hugely positive day for me.
Sitting thru rght now. If I make a move out it's with my mutuals. Apple is headed for its greatest quarter ever and they now are up to 82bln in cash. I see no reason to sell out Apple here unless you want to play tthe in and out game and most folks that do that get burned. Yesterday was a hugely positive day for me.
Len,
I did sell 80 shares of AAPL this morning that I bought at $405 several weeks ago. That's the only thing I did. I am obviously scared about the European crap going on.
I own a lot more AAPL and I want to buy more hopefully lower. But this European stuff is driving me nuts.
I was wondering why you are so nervous about the Greek stuff....I know what the news media and other pundits have said, and I oh so well remember our own debackle a couple of years ago, and appreciate the enormity of it, but now that the Europeans are fessing up to their own deficiencies ----don`t you think that in the end they will do what has to be done, to save their own `hide`??? I mean it will be painful, but ours was painful also Tony ps I read an article today (wall street owned publication) that said no one has made any mone over the last fifteen years in stocks....I assume they mean if they just bought and held a diversafied portfolio
I was wondering why you are so nervous about the Greek stuff.
Tony,
Thank you for your message. I am not SO nervous about Greece, but I am nervous about all of Europe going caput in a worst case scenario. If that happens, you know that our market will also collapse a lot. They better have a good plan at their summit meeting tomorrow.
Yes it will, and I agree with you...Tag said the other day that the `new`war is the economic one, and unfortunately we ( usa) are still engrossed with the military one....Back in 08-09, the USA loaned the Germans (banks) many billions, so now is the time for them to step up to the plate...If they don`t I think the media will play a big role , and they have an awful lot to loose....I don`t think they will be short sighted.....It has dragged out too long..
I know you are now `retired` from the meteorological side of things, but tonight and tomorrow , and maybe the next day are the highest tides of the fall.....I am on `dike` duty Tony
I read an article today (wall street owned publication) that said no one has made any money over the last fifteen years in stocks....I assume they mean if they just bought and held a diversified portfolio.
Tony...
I had a long meeting with a broker/planner today. Guess what the outlook is? 0% return over the next few years, and possibly 5% - 8% over long-term, with periods of higher and periods of lower. He said the market is different now & has changed.
He was not all that optimistic, and said it is better to focus on investment income than just investment growth.
I am not sure about investing anymore.
Remember I told you & everyone here that if my business showed signs of an upcoming recession I would let everyone here know? Well... I am so sorry to report that I have indeed seen the early warning signs of an upcoming recession. One more month and I will know if it is a certainty.
Tag---Thanks for the `heads up` ....Over the years i have grown to appreciate your perspective, and well reasoned opinions, so this is meaningful ...
Interesting about the input form the advisor....I can tell you it is awfully tedious earning eight percent on your money on a yearly basis....Seems like a year is an eternity, so if you go that way, make sure not to get quarterly distributions.....Shoot for the monthly ones......There are numerous closed end funds that pay out monthly, but I personally like the ETF.....and the reason I suggest the monthly payout is that I seem to be able to hold on at least a month......I can`t on a quarterly basis as things just are changing tooo quickly for me.....
Len sure called the amzn thing ...Congratulations to him also.....man what a strange market we have now.....Just think a person use to invest, with the objective that they got a return for the extra risk, and as that return grew, the price of the security rose....Now it seem just the opposite...Tony
Tony, good point on the monthly distributions. I try to do the same thing because it is so difficult to hold on for the three month distributions for a variety of reasons.
Some of these funds actually show that they are returning a portion of your principal each month. This sounds bad but it is actually a good thing because you don't have to pay taxes on the returned principal. I own a couple like this where the price has stayed steady for years and so has the distribution. Not sure how they do it...but it works. Who cares what they call it as long as your investment stays the same and you get a nice return and a tax break. Just do your DD.
Well, as nervous as I was yesterday, I am quite optimistic this morning because the European situation looks more favorable. I bought back 86 shares of AAPL near the low. It's ALL Europe these days.
Sorry----I haven`t been able to synch with appl either...from the further view it increases in spurts and jumps, then for no understandable reason it declines.....Curious stock.....Tony
Upon further review, "all's well that ends well". I was very pleased to learn later in the day that the news turned considerably more positive both in Europe and domestically. I feel MUCH better about my positions in the market.
Remember I told you & everyone here that if my business showed signs of an upcoming recession I would let everyone here know? Well... I am so sorry to report that I have indeed seen the early warning signs of an upcoming recession. One more month and I will know if it is a certainty
This and gold price is on the move can spell QE3 for sure?
Well at least we are going in the right direction....I too am down from this past summer, but not nearly as much Notice the positive change in the news media? They make it sound like all the problems are dealt with---but this will balance itself out---Tony
I gathered enough courage yesterday morning to buy back 86 shares of AAPL. I also gathered enough courage not to sell any of my stocks the past few months when it seemed like the world was coming to an end on several occasions. Finally, I gathered enough courage to buy some AMZN (broker account) at at about $201 yesterday morning after its collapse. Is that enough courage?
At this point, I am pleased, but I really wanted AAPL to perform better than it did today. It's time (maybe tomorrow) will come I'm sure.
It snowed in NW burbs of NYC tonite and this weekend it's supposed to snow everywhere, possibly quite heavy. I thought folks were nuts until i looked at the weather models. It's not even Halloween and my trees are just turning into beautiful color for cryin out loud.
I thought folks were nuts until i looked at the weather models. It's not even Halloween and my trees are just turning into beautiful color for cryin out loud.
Yes it's true Len. It has the makings of a historic snow event for October. Amazing!
It`s nice to relax a bit, and enjoy the rising market....I hope it goes on til the new year Just straight up, and everyone makes a good hit
Tony...
Amen.
I am not yet in the equities market (with exception of a tiny 30 shares of AAPL). I still have my significant holding of bonds that were purchased many years ago at amazing yields. I also have a couple of sizeable tax-exempt "college" accounts, which should reimburse me the $240K cost of my daughter's 4-years of private college. In the meantime, the "new" broker guy is working out a solid long-term plan. Frankly, I like the guy.
In the meantime, I have so much enjoyed not worrying about the stock market lately... and instead taking advantage of Malibu's exceptional micro-climate, which Charlie probably knows about. It's been in the typical seventies here, and so comfortable. I haven't turned on the heater in almost a year, or the air conditioner in so long, I have to wonder if they still work.
I am glad to see the market has been performing well in recent weeks, and it "appears" to be getting healthy again, although I still believe there are some issues that could undermine some of the gains, such as the details within the European deal, the deficit issues in Washington, and the political climate with the election creeping closer, as well as the Middle East and China. Regardless, I am not going to pay much attention to it whatever it does. I am taking a wonderful break from watching it so closely.
My new portfolio that the broker is working out for me will be much more balanced than previously, with more focus on investment income and fixed securities than before, and a smaller percentage of equities. Instead of being concerned about my investments on a daily basis, I am going to look closely at this new portfolio on a monthly basis. There comes a point when enough is enough, and frankly, it is large enough for me to be satisfied, and I will be better off to delegate most of the work to the broker and reward myself with the "freedom" that will result.
My primary focus will now be towards growing and improving my business... fixing up my humble home... as well as enjoying my family, my friends, and my life in this incredibly beautiful beach community.
Next week I'm taking a solo drive up the coast for the week, and I have arranged several business meetings as well. I'll still check in here on the mobile, of course, and I wish you and everyone else here the very best success in your investments and happiness in your lives.
Instead of being concerned about my investments on a daily basis, I am going to look closely at this new portfolio on a monthly basis.
Wow -- sounds like you're a young enough dog to learn new tricks. Hope it works out well for you.
I check my stuff weekly -- takes about 10 minutes. Then I rebalance and/or adjust things twice a year and that's about it. Don't have the time or smarts to do much else.
Wow -- sounds like you're a young enough dog to learn new tricks. Hope it works out well for you.
Haha... and thanks! Well, I'm not all that young anymore... in my later 50's. But if I take God's word into consideration, it's never to late to change (before expiration).
My wife is 11 years younger and my youngest of 2 kids is my 12-year old son. The family keeps me young by requirement, and the beach lifestyle and comfortable climate here is a big plus, of course. I know some of you, like Houdini, for example, spend time on the golf course, and that's a good thing, IMO. If I recall, Charlie plays tennis, as I also do, as well as my son at least until baseball season starts, and he's been winning some tournaments lately, so who knows where this goes?
I check my stuff weekly -- takes about 10 minutes. Then I rebalance and/or adjust things twice a year and that's about it. Don't have the time or smarts to do much else.
Much more about "time" than "smarts". I now see it as a matter of priorities and freedom. That's the important lesson I recently learned. It was a lesson I truly needed, and perhaps it could be said it was well worth the price I paid. It's actually kind of nice to delegate the whole thing to someone else.
The ONLY consideration is whether or not the broker will actually do a decent-enough job. Maybe not as good as I would like, but good "enough" is the key. I take that same perspective with my employees. If I am on their back all the time looking for perfection, they will ultimately resent the job, and not do as well... but if I set realistic levels for achievement, everyone comes out a winner. I'm going to try to take this same approach with the broker.
Baidu reported much better than expected earnings with much better guidance. I point this out because Goldman just downgraded the stock days before the earnings report and earlier Wall Street punished the stock down to 115 or so. The notion that Wall street can predict the future is now more absurd than ever. More like Goldman pushed the stock down on purpose to create a buying opportunity for itself and clients. And why on earth put out an upgrade or downgrade just before earnings. It makes no sense unless you are trying to rig something.
Sounds like a good plan and it would in interesting to see what type of program your new broker sets up. Please keep us posted.
For better or worse, I am about 10 years older than you and I have much more free time on my hands. Consequently, I like to keep a closer watch on my Scottrade acct. to have "busywork" to keep me interested, involved, and hopefully learning a few things.
Do stay in touch because your insights are interesting and enjoyable.
Damn !! How about those Cardinals !! What an amazing game! I really like both teams, so may the best team win tonight.
You sure are brave sir! By the way, I just picked up a new-to-me 2010 RX450h fully loaded, with 12K miles on the clock to be my DD until they make a GS450h AWD.
Tag, I want to suggest you look at balancing your portfolio, primarily with ETF and an occasional single stock.....The hands off approach will not set well with you, so that strategy will protect you from some violent sell off.......The reason I say the above is I have seen charts from the past number of years, and the only thing that really stuck in my mind is that the huge majority of those types of holdings came back....Sure they plunged as a whole, but they came back as a whole.....I think having an advisor is money well spent---as a check valve---but I really and truly put you up there as not only a knowledgable individual, but one with alot of savvy..
There are some well managed funds, and the yearly management fee sort of pays for their actions......I swear the market is so rigged that an individual just is playing with his hands tied behind him.....Of course we keep trying a bit, but I am just using a very small amount of money, and my losses are just as meaningful as though I were using alot.....:)
On another subject, as we are all disciples of appl , I think (because I can`t get a short term handle on it) that more harm is done by trying....Just think, recently xon was around seventy or a little below....It`s gone up say ten percent while apple has jumped around....Many other stock have done like that.....Don`t think I have been profiting from the brilliance of hind sight, as I haven`t....I have just taken my eye off the ball while paying attention to appl....Your Friend Tony
My primary focus will now be towards growing and improving my business... fixing up my humble home... as well as enjoying my family, my friends, and my life in this incredibly beautiful beach community.
TM,
I know exactly what you are talking about. When I was more heavily involved with trading commodities, I felt like I was in prison. I could not focus with more important things in life. It was SO enjoyable during the intervals when I was not trading. Frankly my friend, I know you are making the right decision on this matter.
Baidu reported much better than expected earnings with much better guidance. I point this out because Goldman just downgraded the stock days before the earnings report and earlier Wall Street punished the stock down to 115 or so.
Stuff like this really burns me up Len. The "experts" at Goldman Sachs know crap and all they are trying to do is manipulate. I still own some BIDU from several months ago and am sticking with it.
You sure are brave sir! By the way, I just picked up a new-to-me 2010 RX450h fully loaded, with 12K miles on the clock to be my DD until they make a GS450h AWD.
Enjoy your profit.
I would not call it bravery. I try to have some patience with my stocks that's all. AAPL has stunk up the place on the way it's acting the past couple days, but I have tremendous faith in this stock and I think I will be rewarded even more down the road.
My wife loves the RX450h. The one payment lease comes expires next June, but I have a feeling we may keep decide to keep it.
One other thing I forgot to mention in your post, is I think the real estate market--houses with location and interest--are getting ready to firm up...Alot of interesting deals, and good potential.....Your thoughts about improving your life style are meaningful ...If the property has the amenities I mentioned, improving it could be way better than the `pundits`think at this time......As an example I do not think the mountain land is nearly as good an investment than say an island with transportation....There is nothing but land in the mountains, and very little on an island.....I would guess the same would hold true in your location Tony
I agree with you. There are many, many good solid reasons to make some modest improvements to this property. Malibu real estate is some of the most valuable in the world. The particular location I am in is ideal for a small family or a couple that would like to retire. Close to everything. Groceries, dry cleaners, Starbucks, gas station, post office, banks, schools, shopping, ball-fields, tennis courts, biking, hiking, parks, and especially those miles and miles of some of the world's best beaches. Drive a little bit and the entire Los Angeles area is available... Disneyland, Lakers, Dodgers, Angels, Hollywood, Beverly Hills, Magic Mountain, Universal Studios, a gazillion restaurants and attractions.
But, always good to come home to the quiet litle community of Malibu.
We are starting to see that the bottom of the market may have already happened. I recently applied to re-finance when those rates went off the cliff, and the appraisal came back and showed that the value had gone up considerably since last year. That was a pleasant surprise I did not expect.
So, I am going to proceed with some improvements. Two years ago, when I first purchased the property, I completely remodeled the interior. Very cool bathrooms with floating dual vanites, natural stone-surfaced steam shower, and motorized privacy shade, and in the kitchen we put in all the latest stainless appliances like Sub-Zero frig, Meile dishwasher, Thermador convection ovens, warming drawer, dual microwaves, Sub-Zero wine-cooler, Wolf cooktop, and more. Surface materials are all natural stone and multi-colored glass.
THX surround sound in the family room with the 65" flat panel built into a wall of natural stone tiles... with a narrow slit fireplace at the bottom.
This latest upgrade is to add all new pavers, a new outdoor spa, built-in barbeque area and firepit sitting area that overlooks the Pacific ocean, as well as a small area for some basketball and ping-pong. We already have the outdoor ping-pong table now, and with the weather so good most of the time, the kids love to use it now and then. I also want to upgrade the home's driveway and entry to be something cool. We have some ideas, but haven't landed on anything yet. My builder wants to make concrete entry doors, and I have no idea what he's talking about, but he swears it would be an awesome entry, and not like anything we've seen before. Concrete? Sounds weird, but he promises something incredible. Also, add a few palms and native plants, and some crazy fountain that he's also dreamed up.
Samsung Overtakes Apple as World’s Biggest Smartphone Seller
Samsung Electronics Co. overtook Apple Inc. (AAPL) in the last quarter to become the world’s largest smartphone vendor amid a widening technology and legal battle between the two companies.
Samsung shipped 27.8 million smartphones in the last quarter, taking 23.8 percent of the market, Milton Keynes, U.K.- based Strategy Analytics said in an e-mailed statement today. Apple’s 17.1 million shipments, comprising 14.6 percent of the market, pushed the Cupertino, California-based company to second place.
What will that do to Apple stock next week? I know I am about to pounce on a Smartphone. From what I have read and watched with the Samsung Galaxy Nexus running Android 4.0, it is the phone for me. I really don't need a cell phone. I just like what I am seeing.
It will be worth it....Now I don`t envy you the hassle of going through the improvements, but I don`t know of any way to avoid it.....I mean ,`how would anyone know what YOU want if you don`t stay really involved?`.....The community and location sounds wonderful, and I encourage you to move forward....I think you will be just in front of the next explosion in prices (labor , materials etc) and then every day you will be proud to come home...:) Tony
Sometimes one needs to "reset," and that's hard to do, because it requires taking a long, deep breath (metaphorically speaking), and reordering priorities. In some cases it takes a big event to prompt one to decide to change course. I wish you all the best with your investments.
If you are on Verizon the Galaxy Nexus with Ice Cream Sandwich is due out in a couple weeks. It sets the bar way high. Check out the panorama photo feature.
Sounds like the ITU is deceiving the public on 4G.
How fast is your 4G network?
CBC News conducted the speed tests in four cities where networks advertise speeds of "up to 21" or even "up to 42 megabits per second (Mbps)." The test results were nowhere near that fast, averaging at best 1/10th that higher speed. 3G vs. 4G networks
Mobile service providers have been calling their networks 4G, meaning fourth generation, but this is a result of a change in the definition of 4G.
In December 2010, the organization that sets global standards for mobile communications, the ITU (International Telecommunication Union), decided that 3G technologies substantially better in performance and capability than earlier 3G technologies could be classified as 4G.
In other words, what was called a 3G network last year can now be called a 4G network, if it meets the new definition.
I've read that. It's a lot of BS on the part of the providers. Apparently LTE is the real 4G technology. For the average user, it is as fast as the fastest so called 4G theoretical capability ( without LTE it is actually 3.5 G).
This is the thing I have been annoyed with....The wired and wireless providers just are deceptive, and as I just want to use the internet, not know how it works, and be able to trust I am getting what I pay for.....Most of the past times when my computer has been exceeding slow I thought it to be the computer, but NO it is the provider ....Tony
It would seem the powers in charge (ITU) have made it possible for the carriers to somewhat mislead the consumers. Calling 3G the new 4G seems to be the norm. LTE is an advanced 4G as close as I can tell. Best way is not buy any phone till you run this test. I use it also on my cable modem to determine my speed or lack there of. Run it several times to get an average.
Comments
Drudge sidelines:
Largest ever EU rebellion rocks British PM...
Bloody nose for Cameron...
'Unknown territory' if summit fails...
Finance ministers cancel meeting...
Italian gov't on brink of collapse...
In stories:
"Consumer confidence unexpectedly dropped to its lowest level in two-and-a-half years in October as consumers fretted about job and income prospects."
Reuters
Europe: Grimmer by the minute
"European leaders insist they are making progress on a comprehensive plan to tackle the eurozone's debt and banking crisis.
"But the details are foggy and last-minute delays suggest that significant disagreements remain unresolved."
The article as a whole is very grim.
2014 Malibu 2LT, 2015 Cruze 2LT,
IMO Consumers are not apt to flip TV sets the way they are cell phones and IPods. I'm confused here. Is Apple developing a TV set or a set top box? If it's a TV set forget it. There will be very few that will go out and switch sets for an ease of search and in TV sets folks just want a great pix and adequate sound.. If it's a set-top box than it's guing to have to have a myriad of advances over what Directv and the Cable guys have. Most of America is cable and the business modeI there is the same as the cell phone - give away the box and people are hooked on the service. Suddenly to pay hundreds of dollars for a set top box (and a lot more for a multitude of them) is asking a lot and I doubt consumers rush out on this one. I also find it very easy to seach for movies and various other things on cable. I have a DVD player to search the internet but frankly I'm not interested in doing much of that when I watch TV. TV is passive and for many it's a family event with 2 or more watching. The internet is an active experience, more like work. I think it's great that they come together but in my experience I'm in a totally different frame of mind while watcing TV and so are many Americans. I've read a bunch of studies in which over 50% of people that watch a DVR'd program sit right thru the commercials because they are so passive.
Man did Netflix ever blow it with that absurd pricing policy. What the heck were they ever thinking? One of the worst management forays in history. The stock is down another $41 to $77 from $300 in the summer..
http://finance.yahoo.com/news/Netflix-shares-tank-amid-apf-835500016.html?x=0&se- - - c=topStories&pos=2&asset=&ccode=
Sitting thru rght now. If I make a move out it's with my mutuals. Apple is headed for its greatest quarter ever and they now are up to 82bln in cash. I see no reason to sell out Apple here unless you want to play tthe in and out game and most folks that do that get burned. Yesterday was a hugely positive day for me.
Len,
I did sell 80 shares of AAPL this morning that I bought at $405 several weeks ago. That's the only thing I did. I am obviously scared about the European crap going on.
I own a lot more AAPL and I want to buy more hopefully lower. But this European stuff is driving me nuts.
Tony,
Thank you for your message. I am not SO nervous about Greece, but I am nervous about all of Europe going caput in a worst case scenario. If that happens, you know that our market will also collapse a lot. They better have a good plan at their summit meeting tomorrow.
I know you are now `retired` from the meteorological side of things, but tonight and tomorrow , and maybe the next day are the highest tides of the fall.....I am on `dike` duty
Tony...
I had a long meeting with a broker/planner today. Guess what the outlook is? 0% return over the next few years, and possibly 5% - 8% over long-term, with periods of higher and periods of lower. He said the market is different now & has changed.
He was not all that optimistic, and said it is better to focus on investment income than just investment growth.
I am not sure about investing anymore.
Remember I told you & everyone here that if my business showed signs of an upcoming recession I would let everyone here know? Well... I am so sorry to report that I have indeed seen the early warning signs of an upcoming recession. One more month and I will know if it is a certainty.
TM
Interesting about the input form the advisor....I can tell you it is awfully tedious earning eight percent on your money on a yearly basis....Seems like a year is an eternity, so if you go that way, make sure not to get quarterly distributions.....Shoot for the monthly ones......There are numerous closed end funds that pay out monthly, but I personally like the ETF.....and the reason I suggest the monthly payout is that I seem to be able to hold on at least a month......I can`t on a quarterly basis as things just are changing tooo quickly for me.....
Len sure called the amzn thing ...Congratulations to him also.....man what a strange market we have now.....Just think a person use to invest, with the objective that they got a return for the extra risk, and as that return grew, the price of the security rose....Now it seem just the opposite...Tony
Some of these funds actually show that they are returning a portion of your principal each month. This sounds bad but it is actually a good thing because you don't have to pay taxes on the returned principal. I own a couple like this where the price has stayed steady for years and so has the distribution. Not sure how they do it...but it works. Who cares what they call it as long as your investment stays the same and you get a nice return and a tax break. Just do your DD.
2013 LX 570 2016 LS 460
Upon further review, "all's well that ends well". I was very pleased to learn later in the day that the news turned considerably more positive both in Europe and domestically. I feel MUCH better about my positions in the market.
This and gold price is on the move can spell QE3 for sure?
I gathered enough courage yesterday morning to buy back 86 shares of AAPL. I also gathered enough courage not to sell any of my stocks the past few months when it seemed like the world was coming to an end on several occasions. Finally, I gathered enough courage to buy some AMZN (broker account) at at about $201 yesterday morning after its collapse. Is that enough courage?
At this point, I am pleased, but I really wanted AAPL to perform better than it did today. It's time (maybe tomorrow) will come I'm sure.
Yes it's true Len. It has the makings of a historic snow event for October. Amazing!
Tony...
Amen.
I am not yet in the equities market (with exception of a tiny 30 shares of AAPL). I still have my significant holding of bonds that were purchased many years ago at amazing yields. I also have a couple of sizeable tax-exempt "college" accounts, which should reimburse me the $240K cost of my daughter's 4-years of private college. In the meantime, the "new" broker guy is working out a solid long-term plan. Frankly, I like the guy.
In the meantime, I have so much enjoyed not worrying about the stock market lately... and instead taking advantage of Malibu's exceptional micro-climate, which Charlie probably knows about. It's been in the typical seventies here, and so comfortable. I haven't turned on the heater in almost a year, or the air conditioner in so long, I have to wonder if they still work.
I am glad to see the market has been performing well in recent weeks, and it "appears" to be getting healthy again, although I still believe there are some issues that could undermine some of the gains, such as the details within the European deal, the deficit issues in Washington, and the political climate with the election creeping closer, as well as the Middle East and China. Regardless, I am not going to pay much attention to it whatever it does. I am taking a wonderful break from watching it so closely.
My new portfolio that the broker is working out for me will be much more balanced than previously, with more focus on investment income and fixed securities than before, and a smaller percentage of equities. Instead of being concerned about my investments on a daily basis, I am going to look closely at this new portfolio on a monthly basis. There comes a point when enough is enough, and frankly, it is large enough for me to be satisfied, and I will be better off to delegate most of the work to the broker and reward myself with the "freedom" that will result.
My primary focus will now be towards growing and improving my business... fixing up my humble home... as well as enjoying my family, my friends, and my life in this incredibly beautiful beach community.
Next week I'm taking a solo drive up the coast for the week, and I have arranged several business meetings as well. I'll still check in here on the mobile, of course, and I wish you and everyone else here the very best success in your investments and happiness in your lives.
TM
Wow -- sounds like you're a young enough dog to learn new tricks. Hope it works out well for you.
I check my stuff weekly -- takes about 10 minutes. Then I rebalance and/or adjust things twice a year and that's about it. Don't have the time or smarts to do much else.
Haha... and thanks! Well, I'm not all that young anymore... in my later 50's. But if I take God's word into consideration, it's never to late to change (before expiration).
My wife is 11 years younger and my youngest of 2 kids is my 12-year old son. The family keeps me young by requirement, and the beach lifestyle and comfortable climate here is a big plus, of course. I know some of you, like Houdini, for example, spend time on the golf course, and that's a good thing, IMO. If I recall, Charlie plays tennis, as I also do, as well as my son at least until baseball season starts, and he's been winning some tournaments lately, so who knows where this goes?
I check my stuff weekly -- takes about 10 minutes. Then I rebalance and/or adjust things twice a year and that's about it. Don't have the time or smarts to do much else.
Much more about "time" than "smarts". I now see it as a matter of priorities and freedom. That's the important lesson I recently learned. It was a lesson I truly needed, and perhaps it could be said it was well worth the price I paid. It's actually kind of nice to delegate the whole thing to someone else.
The ONLY consideration is whether or not the broker will actually do a decent-enough job. Maybe not as good as I would like, but good "enough" is the key. I take that same perspective with my employees. If I am on their back all the time looking for perfection, they will ultimately resent the job, and not do as well... but if I set realistic levels for achievement, everyone comes out a winner. I'm going to try to take this same approach with the broker.
TM
For better or worse, I am about 10 years older than you and I have much more free time on my hands. Consequently, I like to keep a closer watch on my Scottrade acct. to have "busywork" to keep me interested, involved, and hopefully learning a few things.
Do stay in touch because your insights are interesting and enjoyable.
Damn !! How about those Cardinals !! What an amazing game! I really like both teams, so may the best team win tonight.
2013 LX 570 2016 LS 460
By the way, I just picked up a new-to-me 2010 RX450h fully loaded, with 12K miles on the clock to be my DD until they make a GS450h AWD.
Enjoy your profit.
There are some well managed funds, and the yearly management fee sort of pays for their actions......I swear the market is so rigged that an individual just is playing with his hands tied behind him.....Of course we keep trying a bit, but I am just using a very small amount of money, and my losses are just as meaningful as though I were using alot.....:)
On another subject, as we are all disciples of appl , I think (because I can`t get a short term handle on it) that more harm is done by trying....Just think, recently xon was around seventy or a little below....It`s gone up say ten percent while apple has jumped around....Many other stock have done like that.....Don`t think I have been profiting from the brilliance of hind sight, as I haven`t....I have just taken my eye off the ball while paying attention to appl....Your Friend Tony
TM,
I know exactly what you are talking about. When I was more heavily involved with trading commodities, I felt like I was in prison. I could not focus with more important things in life. It was SO enjoyable during the intervals when I was not trading. Frankly my friend, I know you are making the right decision on this matter.
Stuff like this really burns me up Len. The "experts" at Goldman Sachs know crap and all they are trying to do is manipulate. I still own some BIDU from several months ago and am sticking with it.
By the way, I just picked up a new-to-me 2010 RX450h fully loaded, with 12K miles on the clock to be my DD until they make a GS450h AWD.
Enjoy your profit.
I would not call it bravery. I try to have some patience with my stocks that's all. AAPL has stunk up the place on the way it's acting the past couple days, but I have tremendous faith in this stock and I think I will be rewarded even more down the road.
My wife loves the RX450h. The one payment lease comes expires next June, but I have a feeling we may keep decide to keep it.
But, always good to come home to the quiet litle community of Malibu.
We are starting to see that the bottom of the market may have already happened. I recently applied to re-finance when those rates went off the cliff, and the appraisal came back and showed that the value had gone up considerably since last year. That was a pleasant surprise I did not expect.
So, I am going to proceed with some improvements. Two years ago, when I first purchased the property, I completely remodeled the interior. Very cool bathrooms with floating dual vanites, natural stone-surfaced steam shower, and motorized privacy shade, and in the kitchen we put in all the latest stainless appliances like Sub-Zero frig, Meile dishwasher, Thermador convection ovens, warming drawer, dual microwaves, Sub-Zero wine-cooler, Wolf cooktop, and more. Surface materials are all natural stone and multi-colored glass.
THX surround sound in the family room with the 65" flat panel built into a wall of natural stone tiles... with a narrow slit fireplace at the bottom.
This latest upgrade is to add all new pavers, a new outdoor spa, built-in barbeque area and firepit sitting area that overlooks the Pacific ocean, as well as a small area for some basketball and ping-pong. We already have the outdoor ping-pong table now, and with the weather so good most of the time, the kids love to use it now and then. I also want to upgrade the home's driveway and entry to be something cool. We have some ideas, but haven't landed on anything yet. My builder wants to make concrete entry doors, and I have no idea what he's talking about, but he swears it would be an awesome entry, and not like anything we've seen before. Concrete? Sounds weird, but he promises something incredible. Also, add a few palms and native plants, and some crazy fountain that he's also dreamed up.
Anyway, that's mostly what we're about to do.
TM
Samsung Electronics Co. overtook Apple Inc. (AAPL) in the last quarter to become the world’s largest smartphone vendor amid a widening technology and legal battle between the two companies.
Samsung shipped 27.8 million smartphones in the last quarter, taking 23.8 percent of the market, Milton Keynes, U.K.- based Strategy Analytics said in an e-mailed statement today. Apple’s 17.1 million shipments, comprising 14.6 percent of the market, pushed the Cupertino, California-based company to second place.
http://www.bloomberg.com/news/2011-10-28/samsung-beats-apple-as-no-1-smartphone-- vendor.html
What will that do to Apple stock next week? I know I am about to pounce on a Smartphone. From what I have read and watched with the Samsung Galaxy Nexus running Android 4.0, it is the phone for me. I really don't need a cell phone. I just like what I am seeing.
http://www.google.com/nexus/#utm_campaign=us&utm_source=ha-bk&utm_medium=sem&utm- _term=%2Bgalaxy%20%2Bnexus
http://www.pcmag.com/article2/0,2817,2395143,00.asp#fbid=iYh2RvMCh0L
How fast is your 4G network?
CBC News conducted the speed tests in four cities where networks advertise speeds of "up to 21" or even "up to 42 megabits per second (Mbps)." The test results were nowhere near that fast, averaging at best 1/10th that higher speed.
3G vs. 4G networks
Mobile service providers have been calling their networks 4G, meaning fourth generation, but this is a result of a change in the definition of 4G.
In December 2010, the organization that sets global standards for mobile communications, the ITU (International Telecommunication Union), decided that 3G technologies substantially better in performance and capability than earlier 3G technologies could be classified as 4G.
In other words, what was called a 3G network last year can now be called a 4G network, if it meets the new definition.
http://www.cbc.ca/news/canada/story/2011/05/05/f-4g-speedtest.html
2013 LX 570 2016 LS 460
http://www.dslreports.com/speedtest