Gold went up a little yesterday. But not much else did. 75% of stocks dropped.
I don’t like this market. The wind has gone out of its sails. There’s too much talk of a double dip recession. Too many big investors are away at the beach. The Hamptons are jumping. Labor Day is still ten days away.
When in doubt, stay out.
Don’t try to catch falling knives.
ACH is free. Wires cost a bundle. If people pay you regular money — e.g. rents — set them up on ACH. I asked Lucky Marr:
Can ACH be done for intermittently, differing payments – not regular monthly checks? Can it be done for one-time payments?
His reply:
Yes, pretty much for both. Check with your local bank. It is an inconvenience to the bank to turn it off and on but it can be done…I have done it. Either your local bank or the payee’s bank can control the arrangements…either bank can initiate or cancel any arrangements. I had to sign a separate form at my bank every time I made any changes. Lucky
Two videos worth watching:
+ Anderson Cooper of reports on a French actor peeing on the floor in a plane. The punning is wonderful. But the best by far is when Cooper breaks into uncontrollable laughter. You will, too. His laughter is totally infectious. Click here.
+ Roger Williams is running for Congress. He calls himself The Donkey Whisperer. His campaign videos feature — surprise, surprise — donkeys. Click here.
Warren Buffett buys into Bank of America. That doesn’t mean you should. For one he’s getting a 6% dividend. You’l get a 0.52% dividend. He bought his much below what you will also. His purchase may have pushed the price of BAC’s stock. That doesn’t mean it will stay there. Or that it will go up. Remember, his big buy of Goldman Sachs stock is now well under water. The New York Times did an excellent piece on the Buffett investment in BAC. In the piece: “They’re the poster child for the unknown,” said Brian Wenzinger, a principal at Aronson Johnson Ortiz, a Philadelphia money management firm. “Nobody knows where it ends.” For the entire Times piece, click here. My position on financials (other than mortgage REITS, which are getting a little cheaper) remains: Stay away. too many unknowns.
An outpouring of positive post-Jobs sentiment. The tech press has poured out a zillion laudatory articles on Steve. Some people are actually buying at Apple stories because they feel their buys are a tribute to Steve. The bottom line: Steve Jobs has 313 patents. Timothy Cook doesn’t. Sell your Apple stock while it’s relatively high.
Press releases I get
The release below details a fun and functional technological tool called the My Wake Up Call Motivational Alarm Clock Messages that helps get people out of bed and in the right mindset each morning — and helps them meet personal goals, professional goals, fitness goals and more.
Good idea. Today I’ll hang little yellow stickies in my bedroom:
“Pick the Right Stock, for a change.”
“Be Happy. Stop Being Negative.”
“Get Something Done. Anything.”
“Stop Trying to be Funny. You’re not.”
A recent Idaho Statesman editorial:
“Witnessing the Republicans and Democrats bicker over the U.S. debt is analogous to watching two drunks argue over a bar bill on the Titanic.”
Why I hate decks.
All my children’s friends in big companies spend their days creating PowerPoint presentations, also called “decks.” Big companies use decks as a substititute for action, i.e. getting something productive done. Some companies raising money put out decks, not written documents. Most PowerPoint slides are crammed with too much stuff.
I would never give a speech and use Powerpoint. The audience would focus on my slides, not on me. I’d lose all contact and the speech would be dead, and unpersuasive. Hand your deck out later, if you must. Better, write something the people can actually read and understand.
Harry Newton who is not looking forward to Hurricane Irene this weekend. If you live in the North-East, move your outdoor furniture; shut and secure windows and doors. Stock up on some drinking water sand power bars. Have batteries for your flashlights. Don’t park your cars under trees. And, for God’s sake, don’t spend your entire weekend watching The Weather Channel.
Note to Susan: We must stock up on Wee Wee pads. Rosie doesn’t like peeing in the rain. Actually, neither do I.
The trouble with slides isn't the slides. It's the idiots filling them with 10-15 long lines of stuff broken into four or ten sections. A good slide should be VERY SIMPLE and STRAIGHT FORWARD with a maximum of 3 to 5 SHORT POINTS that emphasis the speakers comments. That emphasize what the speaker wants the audience to remember later.
Example: Profits are good
Don't trust brokers
Do your own homework
One of the banks I work with is http://www.everbank.com They do not charge for wire transfers and you can set them up yourself online. Great for one shot payments. You can also hold funds in most foreign currencies at a onetime exchange rate fee of 1%. Some banks do charge a fee for incoming wire transfers. You can hold a gold account for a onetime fee of 3/4 of 1% plus $1. Everbank also does not charge ATM fees and do not charge an exchange fee when you withdraw funds internationally. VISA still charges “everyone” a 1% international exchange fee. You can make deposits and/or withdraw funds from virtually any ATM in the USA. You can also deposit checks online from anywhere in the world with the aid of a scanner, directly into your account. They even pay interest on your checking account. Bankrate.com rates them with 5 stars.
Re:PowerPoint
Hi Harry,
Totally with you on dumping PowerPoint when giving a speech.
Of the last three speeches I attended, all three had problems with the PowerPoint portion of the presentation.
Give your audience twenty seconds to start a conversation with their neighbor and you have lost them.
I equate PowerPoint with commercials on TV.
Very distracting.
Handing out a skeletal outline upon which notes may be written is best.
PaminTexas……you and Harry are 100% correct regarding PowerPoint presentations. I like to use the word “irksome” to describe them.
Harry: we use ACH for many tenants rent but here is a worrisome aspect: When completing paperwork you must be clear with YOUR BANKER not to provide forms that allow sender to cancel. Did you read that correctly? Yes I have had tenants pay rent Monday, cancel the payment Tuesday and the bank returned their money FROM OUR ACCOUNT! I thought only the IRS could get into our account but the ACH is a form that exposes you. Peter
I am sure Rosie will lend you a couple of her pads in an emergency, Harry. You can practice up for when you get to be an old man…