Harry Newton's In Search of The Perfect Investment
Newton's In Search Of The Perfect Investment. Technology Investor.
8:30 AM Wednesday, December 7, 2005:
California is about as close to Paradise as you can get. There seem to be opportunities
on each street corner, ready to be scooped up by any ambitious entrepreneur
or traveling investor.
Gold Rush feeling -- exciting and warming the cockles of an Eastern boy (i.e.
me) who left twenty degree weather only last Sunday.
like to say "Yes," drink of the enthusiasm and frolic in years
of high returns. Investing, sadly, isn't that easy. The ideas and the technology
are stunning, the management less so. And the valuation -- well that's another
story. One deal I saw yesterday raised its last monies by valuing the company
at $3 1/2 million. That was last week. By the time my plane landed from the
East, the valuation had doubled to $7 million. Presumably Easterners are either
frivolously rich or horribly naive, or both.
came out to eye raw land development... on which I've been lending. The good
news is everyone is aware housing is cooling. The better news is that it's not
cratering. Today's Wall Street Journal talks of investor interest in
individual homes declining. That "business" of buying a house and
"flipping" it three weeks later, without adding any value, always
seemed a little flimsy to me. And now -- surprise, surprise -- it's evaporating.
Read today's WSJ, click
our country's population grows. People flock here. I did. We have babies. I
did. There is an inexorable need for affordable entry level housing. And while
it's hard to find in California, you can find it in places like Phoenix and
Tucson. That's where my developers are thrusting. Thank goodness.
How to buy a TV: First
rule, leave your decision until the last moment. Prices are falling and quality
is improving daily. Second, sit in the store and study the sets.
Nothing will serve you better than your own eye. Third, make sure your new set
can display high definition TV signals. One day we'll have a lot of high def.
It really is a superior signal, especially for watching sport. For more, Walt
Mossberg has a piece today. Click
occupations -- part 1: At Monday's party, I seek a dance from a handsome
lady. Naively, I ask, "So, what do you do for a living?" She answers,
"I'm looking for my fifth husband." Sadly (for her), I am happily
married. We had a nice dance.
occupations -- part 2: Suddenly, the young boy
is choking, turning blue. His father realizes the boy has swallowed a quarter
and calls for help. An attractive woman in a blue business suit looks up, puts
her coffee cup down, neatly folds her newspaper and gets up from her seat.
Reaching the boy,
the woman pulls the boy's pants down, carefully takes hold of his testicles,
and stars to squeeze, gently at first and then ever more firmly. After a few
seconds the boy convulses violently and coughs up the quarter, which the woman
deftly catches in her free hand. Releasing the boy, the woman hands the coin
to the father and walks back to her seat.
As soon as he
was sure that his son was OK, the father rushes over to the woman and thanks
her profusely. "I've never seen anybody do that before. It was fantastic.
Are you a doctor?"
she said, "Divorce attorney."
+ Dumb reasons we hold losing stocks. Click
+ How my private equity fund is doing. Click
+ Blackstone private equity funds. Click
+ Manhattan Pharmaceuticals: Click
+ NovaDel Biosciences appeals. Click
+ Hana Biosciences appeals. Click
+ All turned on by biotech. Click
+ Steve Jobs Commencement Address. The text is available:
Click here. The full audio is available. Click
+ The March of the Penguins, an exquisite movie. Click
+ When to sell stocks. Click
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 . You can't
click on my email address. You have to re-type it . This protects me from software
scanning the Internet for email addresses to spam. I have no role in choosing
the Google ads. Thus I cannot endorse any, though some look mighty interesting.
If you click on a link, Google may send me money. That money will help pay Claire's
law school tuition. Read more about Google AdSense, click
here and here.