Equities went up yesterday.
It was nice.The market is very volatile. Probably toppped out for now. I do like yesterday’s ideas of TBT and TBF. Read again here.
I need to examine a few recent losers — like DIS, MET, JPM, AFL and ED. They should be OK for the long-term. But I’m getting impatient — maybe because of my cataract operation. See below. Buy some more Google. The company is amazing.
Rising interest rates are making tax-free muni bonds more attractive, once again. Muni bonds don’t trade like stocks. You have to negotiate their price with a trusted broker. You can easily save 2% to 3% by negotiating hard.
Here’s me yesterday.
They took the bandage off yesterday, poked around, examined my eye in minute detail and pronounced my cataract operation a success. “Come back in a week.” Meantime, my right eye is blurry and won’t focus. Essentially, it’s useless. I’m told another two tor three days and it will be come into focus. Meantime, I’m annoyed and impatient. I’m certainly not getting the other eye done any time soon. This whole thing is costing a week of tennis — no physical exertion says the doc.
I fantasized that the operation would actually improve my vision and my tennis. Fantasizing doesn’t work with investments, either.
I walked back from the eye doc and dropped in at Ralph Lauren’s ritzy 72nd and Madison Avenue store. I fluked a couple of nice navy cotton trousers on sale for a total of $83.98.
My joy in a retail store is always asking “What’s the hottest thing in the shop?”
It turns out the “hottest thing” is this alligator bag made from the skins of farm-raised alligators in Mississippi. They live the life or Riley — PETA-approved, no less — until the time comes for them to sacrifice themselves for the greater good of consumerism. It’s called the Ricky Bag, named after Mr. Lauren’s wife.
You can buy the bag in any color you want — including hot pink.
Oh yes, the price? Only $29,500.
The saleslady’s name is Bria Langer. Ask for her. She’s very sweet.
My big surprise after having two cats removed and bionic lenses installed was how much whiter white looked. I never knew how good HDTV was until after the surgery. Cats are not neutral gray as I thought, but yellow-brownish. My doc told me that one patient painted her house after surgery because she finally realized how crappy her walls looked.
Harry…Harry. I know you are not known for your patience…try just once and give your eye a chance. In a couple of days you will begin to notice a dramatic improvement and will be so happy with yourself for having taken this giant step…now…make the appointment to have the other one done right away…what the hell is a week of tennis for a young man like you with 20-30 more years of tennis to play!! Your photos will now take on colors you have not seen for 50 years!
Harry, if you like munis here, then check out some of the closed end funds out there. Most are at a discount from their actual value because of the selling pressure. You also get the diversification and liquidity of a fund. In general, closed end fixed income funds look attractive between the overall increase in yields and the significant discount many are trading at. That all said, if you’re buying TBT or TBF because you think rates are going to rise in the near term then you may want to hold off on buying munis and closed end fixed income funds.