New York, my desk. I turn on CNBC. The first time in 5 weeks. It lasts 5 minutes. The screaming. The stridency. The breathlessness. Larry Kudlow is the worst. Does the man ever breath?
If this is “civilization,” I want none of it.
The biggest cost to the search for the perfect investment is not the inevitable losses, but the housekeeping, the time, the aggravation, and the lost friends.
We underestimate the angst. The wear and tear on our psyche.
Muriel is my wonderful assistant. She figures the numbers. My net worth rose while I was away keeping my fingers out of, and messing with, the till.
Yesterday, she quipped, “You ought to go on vacation more.”
That hurt.
We all have the urge to do something — anything — to improve things. The urge should be curbed. The cost is 7 feet of paperwork awaiting my return.
Is there a taxing authority in the world that doesn’t want a piece of my body? Or worse, a long explanation from me?
Is there a K1 that isn’t polluting my desk with its endless pages of trivia and low returns?
There is a real benefit to veging (as in vegetabling) out.
These happy people were enjoying the sun in front of the Zion National Park Lodge. They probably are happily clipping coupons from their triple tax-free muni bond portfolio.
I should be, too.
David Corbett, author of Portfolio Life: The New Path to Work, Purpose and Passion After Fifty talks of clients who, after long corporate careers, have reinvented themselves as sheep farmers, cheese makers, nonprofit agency executives and even world peace advocates.
The worst part of all those K1s on my desk is the realization that I have zero control over their managements’ idiocy.
They took my money. They promised the world. They delivered paperwork. Endless paperwork.
Gambling is not fascinating, but may be addictive. We put a quarter in a slot machine. We won $13.25. I wanted to take the money and run. Susan wanted to stay and play out her “luck.” She promptly lost the next five quarters before she succumbed to my nagging to get the hell out.
I looked around. Hundreds of people were sitting in front of machines.
Didn’t they know they couldn’t win? Didn’t they know the machines were programmed to suck their wallets and their ATM card dry?
I watched people play roulette. The wheel has a double zero. That skews the odds heavily to the house.
The house always wins. That’s how they can afford to build even bigger houses.
These are brand new and on the strip.
Sign of the times. Even the horses are complaining about our obesity.
I didn’t buy an iPad. My son, Michael, the geek, emails me “I continue to not want one.” All his reasons are in Jasbone’s post.
Fortunately I’ve been recommending Apple’s stock. And it has continued to rise. Nobody can make hype like Steve Jobs. It rubs off onto his stock. He’s already sold 700,000 iPads. That’s at least $350 million.
You don’t want an iPad, yet. Trust me.
Favorite recent New Yorker cartoons:
Harry Newton, who’s still plowing through his desk and trying desperately to hang onto that wonderful, relaxed feeling he had achieved out west.
Harry,
I REALLY hear you on CNBC. Worse than the rants is the way they constantly talk over and interrupt each other, especially their more learned guests. I have stopped watching except for some occasional early start to the day stuff. Hope you enjoyed UT!
Hi Harry,
Sorry to read of your post-vacation doldrums.
Over the years I have occasionally reflected upon the differences between your life and mine.
In brief,I don't have the latest in technology, although I do enjoy reading about it, especially on your page.
My investments are very limited and those I am pulling closer to home (local investment) over time.
Debt-free except for the house.
What is the point of racing about and mostly letting others play and profit off one's money?
Maybe it's time to ask yourself if there is a reason to not permanently grasp “that wonderful, relaxed feeling” you “achieved out west”.
I did and am fortunate to live in such a place.
Thank God for my little piece of Texas.