The Dow was up 200 points. Heaven had arrived, along with the 72 naked virgins. My phone rang off the hook. “Do you have time for me, Mr Newton?” one broker after another panted enthusiastically.
“Do you remember the last three ideas I brought you?”
Not really. But answering that was a show stopper.
The company stories they burble on about are impressive. If I hadn’t known better, I’d be convinced that they were the yellow brick road to riches beyond my wildest imagination.
Sadly, they’re not. Of all the money managers I’ve used (and abused) since I sold the business 13 years ago, only three made me any money. Two of them eked out a return. One did very well. Sadly, he retired last year, leaving me with my money and the stunning revelation that my money was mine and I’d better not outsource the management of it any longer.
Exhibit one:
Here’s one horrible statistic: My bad money manager/brokers lost me more money than the good ones made me. That’s a horrible statistic. But the truth.
My new iPhone 4. I’m ruing I didn’t spring for it earlier. It really is a wonderful phone. Among the things I like about it:
1. It’s very logical. My old BlackBerry was irritating.
2. It’s got lots of stuff — from two cameras, to a voice memo, to book readers. I was reading a book on it last night on the subway. It was totally comfortable.
3. It’s very easy to synch — my contacts and calendar flowed effortlessly over from Outlook. BlackBerry is not effortless, especially the first time.
4. I like my voice mail. I can now listen to my voice mail in the order I want to — not chronological order.
5. I like reading the news on Bloomberg, the Wall Street Journal, the New York Times. Much easier than on the BlackBerry. Much cleaner — and far bigger screen.
6. I like the way it handles photos.
7. I like the apps you can get from Apple’s App Store. Not all of them. I try one. I like it. I don’t like it. I junk it. I like the maps.
8. The screen is phenomenal for photos, movies, reading and maps. The best I’ve seen.
9. AT&T’s data on iPhone is faster than Verizon’s on BlackBerry. AT&T’s voice phoning is fine. I’ve only had one dropped call. And it was fortuitous. I wanted to end the call, anyway.
10. The people at the Apple store are really sweet. They actually get pleasure out of helping you, the customer. What an old-fashioned idea? I don’t deal well with India, and Eternity Hold.
Harry Newton,who woke up late this morning and couldn’t discuss everything he wanted to. Tomorrow, I promise.
“I’ve only had one dropped call. And it was fortuitous. I wanted to end the call, anyway.”
Are you implying the iPhone is intuitive?
Hi Harry, you had mentioned YRCW as a speculative investment.. Today it is down over 20% and wondering if you have any further thoughts on this stock? Thanks..
Harry, if 13 years ago you had put all your investment money into the big three tobacco stocks, (they now pay dividends of 5-6%) and avoided all the angst and time invested into the stock market, how would you have done? And assuming they grow in the future as they have done, how will you likely do by 2023?
Vincent