Much discussion on big tech stocks — Google, Amazon, Apple and Facebook. Amazing how quickly these companies have grown and how quickly they’ve eclipsed erstwhile leaders like MSFT, INTC, DELL, BBY and HPQ. See the Economist below. The BIG news here is the death of the PC and the laptop and the growth of mobile smartphones.
How Cash can be King. Readers have eviscerated my sensitive insides with criticism of my comment that Cash is King. They explain in excruciating detail that cash yields nothing at savings banks, in bonds or anywhere else. True, but the point of having cash is twofold:
1. You’re unlikely to lose anything if your money is in your mattress bank.
2. You have money on hand for a great opportunity that will come along, one day.
You really want to be fully invested between now and the Fiscal Cliff on January 1? You want to trust your financial future to the likes of the bozos in Congress?
The New York Times did a cover piece this morning headed “Complaints Aside, Most Face Lower Tax Burden Than in the Reagan ’80s.” You can read the long detailed (replete with charts) article here. I personally attest to paying higher tax rates in the 1980s than I have in recent years. But go tell that to our friends who’ve signed silly pledges.
The joys of the stockmarket. Several weeks ago when RIMM was $7, my friend says Buy RIMM because it’s going to be bought for $14. Well it hasn’t been bought (probably never will be), but it closed last night at $11.54 on speculation of yet another “hot” BlackBerry phone. Which proves that you can be right and wrong and still be right.
Pictures of Amazing Amazon warehouse.
For more photos, click here. For more on the chaotic storage that amazon uses, click here.
The Economist runs its technology quarterly. It’s in this weekend’s edition. Worth reading. Start with an Internet of airborne things. Click here.
Work.
I like work. It fascinates me. I can sit and look at it for hours. — Humorist Jerome K. Jerome quoted in the Wall Street Journal.
Wonderful act of spontaneous kindness. A New York City cop bought a homeless guy a pair of boots and gave them to him. Arizona toursts captured the charity on a smartphone and the story has done viral.
For the full story, click here. Several readers suggested that I donate my new boots (see yesterday’s column) also.
Tommy’s painful story. Tommy is Claire’s 2002 Subaru Legacy Outback station wagon. I bought it for her to go to College.
Claire: Tommy is dying. The electrical system not working well. The clock is losing time. It won’t start on the first try. The headlights are weak. The car alarm sounds anemic.Tommy is dead. We’re not spending thousands of dollars to fix it. We’ll give it away.
Harry Daddy. That’s sad. What are you going to do about it?
Claire: Ted (the husband) is taking Tommy to the Subaru dealer.
Later that day…
Harry Daddy: So what’s wrong with Tommy? How many thousands of dollars?
Claire: It needs a new battery.
Harry Daddy: That’s it?
Claire: That’s it.
Harry Newton, who bought a little STWD and COST. They’re actually up. His BMO is also up.. While his HPQ and BBY shorts are losing, but only a tiny fraction of what his RSH short has made so far. I’m tempted to short MSFT and INTC, though it may be too late. Should have done so earlier — when I saw the miserable sales of Windows 8 in phones and PCs.
Harry, you are the Three Stooges of investing. Facebook and Microsoft for the win!
Harry– do you still have your Muck Boots?…..I do, best winter boot of all time.