Harry Newton's In Search of The Perfect Investment
Newton's In Search Of The Perfect Investment. Technology Investor.
AM EST Wednesday, December 13, 2006: Learned observers (like economists)
spend much energy reading the tea leaves of the few words the Fed releases on
its all-important interest rate decisions. These decisions have serious impacts
-- killing or boosting the housing industry and affecting the cost of borrowing
money for businesses' expansion capital. Understand the Fed's concern is less
with the economy and far more with inflation. It has a serious obsession with
restraining inflation. It will do everything it can to arrest inflation -- even
at the expense of clobbering the economy. Here's the complete statement the
Fed released yesterday. You can see the Fed basically hasn't a clue on inflation's
future course. Hence, it may or may not increase, drop or hold interest rates
steady in coming months. My tea leaves are as good as yours.
Open Market Committee decided today to keep its target for the federal funds
rate at 5-1/4 percent.
has slowed over the course of the year, partly reflecting a substantial cooling
of the housing market. Although recent indicators have been mixed, the economy
seems likely to expand at a moderate pace on balance over coming quarters.
core inflation have been elevated, and the high level of resource utilization
has the potential to sustain inflation pressures. However, inflation pressures
seem likely to moderate over time, reflecting reduced impetus from energy
prices, contained inflation expectations, and the cumulative effects of monetary
policy actions and other factors restraining aggregate demand.
the Committee judges that some inflation risks remain. The extent and timing
of any additional firming that may be needed to address these risks will depend
on the evolution of the outlook for both inflation and economic growth, as
implied by incoming information.
only God had the money. I love this story. It came from the New
York Post, one of our more salacious daily newspapers::
A brash hedge-fund
manager is putting his money where his mouth is agreeing to pay a record
$45 million for a Manhattan residence.
the outspoken founder of New York-based Third Point LLC, has signed a contract
to buy a more than 10,000-square-foot penthouse condominium under construction
at 15 Central Park West at the site of the old Mayflower Hotel.
investment mogul, who manages a $3.6 billion fund, is known for his publicly
circulated poison-pen letters to executives he claims are pretentious or lazy.
The New Yorker magazine described him as an investor's version of the
late political columnist H. L. Mencken, but added that his manner could be
"self-interest disguised as moralistic bombast."
Loeb had no
comment about his purchase.
Plans for the
10,700-square-foot, full-floor pad include eight bedrooms, 10 full bathrooms,
two powder rooms, a large screening room, his-and-hers offices, a library
and terraces measuring nearly 800 square feet. The 39th-floor apartment features
14-foot ceilings. It is to be completed by spring 2007.
sales figure beats the previous record held by News Corp. Chairman and CEO
Rupert Murdoch, who paid $44 million earlier this year for the late Laurance
Rockefeller's triplex co-op penthouse on Fifth Avenue. News Corp. owns The
It also bests
the previous record condo price of $42.25 million that Mexican financier David
Martinez paid at the nearby Time Warner Center. Martinez combined a full-floor
apartment on the 76th floor with a half-floor residence above. He then recently
purchased the other half of the 77th floor for about $12 million, giving him
almost 17,000 square feet total after spending nearly $53 million.
comes seven months after he bought a sprawling eight-bedroom West Village
town house for $11.2 million.
The 15 Central
Park West complex designed by renowned architect Robert A.M. Stern
and developed by brothers Arthur and William Lie Zeckendorf will comprise
two structures between Broadway and Central Park West (from 61st to 62nd streets).
A drive-in courtyard
will separate the 20-story building and a 43-story tower, both with pricey
Indiana limestone facades. There are 200 residences ranging in price from
$1.97 million for a one-bedroom place to Loeb's $45 million palace. Also featured
in the complex are retail stores, a private 13,500-square-foot gym and spa,
a private restaurant, wine cellars and staff quarters.
a release by Zeckendorf Development, the building is about 40 percent sold,
with 12 of the 16 penthouses already spoken for.
only God had the money -- Part 2.
Quarterly profits soared 93 percent at Goldman Sachs, which is paying $16.5
billion in compensation this year, roughly $623,418 per employee.
I bet some of the Goldman people will use their bonuses and move into the building.
15 Central Park West, Central Park and a nice day in New York City. Today
is overcast, but warm. I think the best part of building is this proposed 75-foot
A South Carolina farm wife called the local phone company to report
that her telephone failed to ring when her friends called and that on the few
occasions when it did ring, her dog always moaned right before the phone rang.
The telephone repairman proceeded to the scene, curious to see this psychic
dog or senile lady. He climbed a telephone pole, hooked in his test set, and
dialed the subscriber's house.
The phone didn't
ring right away, but then the dog moaned and the telephone began to ring. Climbing
down from the pole, the telephone repairman found:
1. The dog was
tied to the telephone system's ground wire via a steel chain and collar.
2. The wire connection
to the ground rod was loose.
3. The dog was
receiving 90 volts of signaling current when the number was called.
4. After a couple
of jolts, the dog would start moaning and then urinate.
5. The wet ground
would complete the circuit, thus causing the phone to ring...
that - contrary to popular opinion - some problems actually CAN be fixed by
pissing and moaning.
perfect call center employee
Mujibar was trying to get a job in a Filipino call center.
Manager said, "Mujibar, you have passed all the tests, except one. Unless
you pass it, you cannot qualify for this job."
"I am ready."
The manager said,
"Make a sentence using the words Yellow, Pink, and Green"
for a few minutes and said, "Mister Manager, I am ready."
The manager said, "Go ahead."
Mujibar said, "The telephone goes green, green, green, and I pink it up,
and say, 'Yellow, this is Mujibar.'"
Mujibar now works as a customer service person. No doubt you have spoken to
This column is about my personal search
for the perfect investment. I don't give investment advice. For that you have
to be registered with regulatory authorities, which I am not. I am a reporter
and an investor. I make my daily column -- Monday through Friday -- freely available
for three reasons: Writing is good for sorting things out in my brain. Second,
the column is research for a book I'm writing called "In Search of the
Perfect Investment." Third, I encourage my readers to send me their
ideas, concerns and experiences. That way we can all learn together. My email
address is .
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