I feel confident they won’t drive off the fiscal cliff. That means I’ve nibbled at a few more equities. I’ll list some names tomorrow.
News from the real estate syndication front:
Residential is hot, but getting less so.
Commercial is improving. But only selectively and only in certain places, e.g. New York City. Buy cheap. The price you pay determines how much profit you make when you sell later.
Stocks have a national market. Everyone knows the price.You can see it on your PC.
Real estate is local. You can pick up a bargain if you offer cash, move quickly and are patient — walk from 95% of the “deals.”
Never fall in love with real estate. That’s real estate’s occupational hazard.
Maybe you can pick something cheap up in the next couple of weeks? Maybe someone wants out before higher cap gains taxes kick in next year?
Maybe.
Flashlight not to buy.
We have lots of them. They give good light after you change the bulb to LED. They’re heavy. They feel good. BUT, their metal body causes batteries to leak, which expands the batteries and then they’re stuck. Which means you can’t get them out to replace them. Yesterday I sent three busted flashlights to the manufacturer MAG Instrument in Ontario, California. You think they’ll replace them?
Only in New York. Actual email received this morning:
Hi Harry
I believe you met my Rabbi, Rav Kalatsky in the train (subway) yesterday.
I am also an Australian living in NYC for a number of years.
I am running an interesting gold project in Nevada.. Would like to pitch it to you if you have any interest.
David Segelov
Moral question.
Eddie Bauer sent me a pair of pants I didn’t order and didn’t charge me for them. Should I send them back?
I was tempted to send them back but they forgot to send me paperworkd and the on-hold time for an RMA was over
ten minutes.
The pants are size 12 women. Should I return them, give them to one of my fat friends or throw them out?
How the U.S. benefits by globalization.
My relatives live in Australia. In the last few years, they have discovered America. Like how cheap it is for clothes, shoes, cameras, computers, tennis and golf balls. They used to order online, have it delivered to our New York apartment and pick it up when they visit. Lately, they’ve discovered that there are online web sites that will actually take Australian credit cards and ship stuff there. What joy. Some places (like Amazon) now even have warehouses in Australia. Good idea. The Australians have money and speak a similar language.
Favorite recent New Yorker cartoons.
Touching Christmas story – 2.
As George had a habit of giving his wife strange Christmas gifts, she was not surprised when he came one night carrying a tiny, branchless tree. Attached to a lone limb was a shotgun shell.
“All right, George,” said his wife, truly stumped this time.
“What is it?”
“Why, honey.” George smiled, “it’s a cartridge in a bare tree.”
Remember the story a couple of days ago about the husband meeting his wife in the bar next door to the jewelry store, which had the necklace she always wanted? The wives are getting the raw end this Christmas it seems.
Harry Newton, who was somewhat surprised that AGNC maintained its $1.25 quarterly dividend. This means its dividend yield is 16%. Remember mortgage REITs, like AGNC, are best held in tax-free accounts like IRAs, since their dividends are taxed as ordinary income, not as dividends. Though who knows what will taxed at in the new year is anyone’s guess.
Do not try and run any of Fidelity’s Active Trader Pro software on a Windows 7 computer. Don’t even waste your time on Fidelity tech support. They seem to start with the assumption that the customer (i.e. Harry) is an idiot. which is only half-true.
Harry, I have had a number of MagLights, and have had, on occasion, the same problem as you. They cheerfully exchange them if you use the three brands of batteries they recommend. They probably will exchange them anyway. I have had brighter flashlights than MagLight, but none more reliable. Chris
Size 12 fat? Really? The only thing worse than being a size 12, 4.5 rated tennis player is having to play tennis when asked with a geezer in his 70s who thinks he can still give you a good game. Ugh.
Karma and the Golden Rule* would dictate (for me) that I make a reasonable effort to return the pants. In this case, 10 minutes on hold (on speaker while doing something else) would seem reasonable. There would also be the time and effort involved with printing the label, etc. I’d give it 20 minutes total effort (random decision on time). Beyond that, the pants would be donated to charity!
* Golden Rule applies here as the US Supreme Court has determined Corporations to be People in legal reasoning similar to NY vs. Kris Kringle decided by New York Supreme Court Judge Henry X. Harper (in keeping with the season). 😉
Moral Answer – Harry, Eddie Bauer does not miss the pants or the money, so keeping them would not be a sin against them. Hey, spending more than 5 minutes of your time on this would be a sin. Now, what good can you do with this gift dropped at your door? A donation perhaps? Just think of the joy some fat lady would have picking this up from a non-profit. Warning, do not give these pants as a Christmas present – too big!. That would be a sin.
My test with moral issues is very simple. I have no idea if you want to apply it to yourself or not. I will say it has led to a life very free of regret, as I have never regretted doing the right thing.
So since you asked, I always ask myself: “What is the right thing to do?” We always know what the “right” thing is; that’s why we have a conscience. Then I do it, no matter how hard it is.
So in this case, I would return the pants, with or without paperwork. I would just find the general address for the company, write a note, pack them up with the note, and send them, making sure I include my mailing address. They will be able to find the mixup in their records because they will have your shipping address.
To make it easy for you, their corporate address is: 10401 NE 8th Street, Suite 500, Bellevue, WA 98004
Who knows? It might be a gift for someone who really needs them, provided by someone who can barely afford them. In any case, you will know in your heart that you did the right thing, and that matters.
kz
I’ve had similar issues with Maglite.
The little ones (2AA sized), seem fine. I’ve had no problem (as yet) with them.
I had one (4D model) way back when I was flying (red filtered lens) worked great – until the switch mechanism broke.
Just recently had one of the 4D sized ones – same problem as yourself – batteries leaked. So, yes, that’s a battery problem, though: avoid RayOVac (until I find the next brand that leaks). However, due to the construction of the flashlight – I couldn’t get the last, swollen battery out. The top is very fragile and you can’t seem to remove it to push the battery out. Also, the mirrored reflector had flaked away on this one.
I think my favorite now is an inexpensive 6-led model. It’s brighter, the ‘pattern’ or coverage is wider, runs on only 3AAs, it’s smaller, and well, maybe the batteries will leak inside and we’ll find out if it’s repairable.
Maglite is a classic American company – late to market with LEDs and not as good. Sure, the ‘milled’ aluminum body is a clever idea – but one swollen battery will take out the whole unit.
I wouldn’t bother returning the pants. Trivial cost to them. Doesn’t reach the level of morality…
Harry, not sure why you’ve had an issue with Maglight, but have had same one for 30 years with no problem.