Harry Newton's In Search of The Perfect Investment
Newton's In Search Of The Perfect Investment. Technology Investor.
8:30 AM EST, Monday, November 5, 2007: Today's
web site was late because webhoster Web.com is useless. They messed up, again.
I like webhoster ICDSoft, which I use for my newer sites.
has become the latest cockroach stock. And for now, its ails are depressing
the entire market. That might produce some bargains. For now (and forever),
it's good to have a little cash around.
BIG news is how oil's high price is messing with energy tradeoffs. From Bloomberg
Nov. 5 (Bloomberg)
-- Now that the price of coal is at a historic low relative to oil, there's
no stopping consumers and producers alike from embracing Al Gore's nightmare.
A ton of U.S.
coal is so cheap at about $47 that European utilities will pay $50
to ship it across the Atlantic, according to Galbraith's Ltd., a 263-year-old
London shipbroker. While oil and coal cost the same as recently as 1998, West
Texas Intermediate crude is now five times more expensive after climbing to
a record $96.24 on Nov. 1.
Corp., Consol Energy Inc. and Arch Coal Inc., the three biggest U.S. coal
companies, forecast the largest increase in exports in 20 years, degrading
the call for a moratorium on coal plants by former U.S. Vice President and
this year's Nobel Peace Prize winner Al Gore. Coal use worldwide has grown
27 percent since 2002, three times faster than crude, said BP
Plc. U.S. East Coast coal has risen 71 percent, while oil tripled on
the New York Mercantile Exchange.
by far the cheapest fuel because there's no price on how much damage it causes,''
said John Holdren, a Harvard University professor of environmental science
and director of the Woods Hole Research Center in Falmouth, Massachusetts.
"Unless you get policies to put a price on carbon dioxide and other emissions,
no other plants can compete.''
U.S. coal prices
are equal to $1.98 for each million British thermal units of energy,
compared with $12.51 for fuel oil and $6.91 for natural gas,
data compiled by Bloomberg show. A million British thermal units is the equivalent
of eight gallons of gasoline.
Kingsale writes "ASPO Recap: Oil Supply to Fall Off a Cliff
Adjustment to a Changed Market" My friend
Jim writes Energy Investment Strategies (E.I.S.). In his latest piece,
he writes "October was a satisfying
month for the E.I.S. portfolio. Not so much because it gained over 7%,
and is up over 39% YTD. Rather because it outperformed the energy and
general market averages which indicates that the E.I.S. strategy is adding value."
This latest piece talks about what he learned at a recent ASPO meeting. ASPO
is the Association for the Study of Peak Oil.
observers, there was one piece of big news and a lot of getting our minds
around the magnitude of the issues. The discussion was organized around the
basic tenants of the peak oil problem:
growing demand for energy, particularly oil
oil supply growth caused mainly by rapid decline rates
reluctance of some oil exporters to maximize output, otherwise called hoarding
or resource nationalism, and
price of oil resulting from the above and how that can and will be mitigated
by demand destruction, increased efficiency, and alternative supplies.
I have taken a direct lesson from the ASPO show theme, which was Time
for Another Great Leap. For some time during the show, I pondered those
words, so suggestive of one of those Chinese 5-year plan slogans, and for
a while I was frankly not able to figure out what they meant. Then it finally
dawned on me: it was leap as in LEAP
the long term equity option securities. That made it clear: what was needed,
given my view of the price of oil, is to buy LEAPs on oil itself and/or on
companies that own a lot of oil. I will close with that thought for your consideration.
Jim's excellent entire piece,
Pakistan's Musharraf imposed emergency rule. From
"A few hundred intertwined families, many rooted in the military,
maintain an anti-development chokehold on the countrys wealth and political
system. 'Why some militaries become key players in a countrys power
politics is an issue that has puzzled many,' writes the Pakistani analyst Ayesha
Siddiqa in Military
Inc. Her answer is that the brass is protecting its gold."
extraordinarily high cost of divorce: My friend is using an attorney
in London. He charges $1,523.54 an hour. (I converted the English rate
to U.S. dollars.)
bank manager is called Ania Brzozowska. She is Polish. She has a
friend in Poland who recently married and now carries a hyphenated last name
-- joining her name and her husband's. He new surname is now Brzeczyszczykiewicz
runs the NYC Marathon:
-- A Land Untouched by Modern Dentistry. This
is a travel book to a fictitious country somewhere in central Europe.
I'm not going
to spoil your fun by telling you what's in the book. It's the funniest book
I've read in eons. It reads and looks like all those travel books we buy --
replete with maps, photos and illustrations. But the book is one gigantic brilliant
spoof. I can't stop laughing. Buy one today for yourself and all your friends.
actual country music song titles:
to the Cathouse, I'm in the Doghouse with You."
2. "You Done
Stomped On my Heart (and You Mashed That Sucker Flat)."
3. "I Went
Back to My Fourth Wife for the Third Time and Gave Her a Second Chance to Make
a First Class Fool Out of Me."
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
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