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Spring cleaning in summer. The most profitable companies in the entire world

Summer is Chuck It Out time

Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.

Hence we’re throwing out all the docs on all the “hot”investments I made in the halycon days of 2005-2007.

Lots of worthless biotechs that never impressed the FDA nor cured anyone.

Lots of technology stocks that did dumb things — like mortgage the company to a lender — one sitting on the board. It defaulted. He took it all over. The FCC didn’t catch him for insider trading.

I knew the vast bulk would go bust. Somewhere in the pile, I figured, they’d be a hundred-fold winner that would make up for all the losers.

There wasn’t one. Not one.

My favorites were the distressed funds. They bought distressed stuff from sellers desperate for cash. The distress stuff “worked.” But an S&P index fund worked several times better. Distress funds did distressfully.

Fortunately all the venture capitalists and biotech promoters have disappeared. My phone is quiet. My lunches are lonely, but cheaper. And there’s more time to play tennis.

What truly amazing is to read today’s bios of those failed promoters in their new businesses. The new bios talk of companies started, never companies succeeded. Am I being too cynical?

Don’t cry for me. I made my losses back in syndicated commercial and residential real estate and even on the market.

Diversification pays — if you’re not in control.

What will they sell next?

You can now buy prefab houses on Amazon, including this one $18,800 one called the Lillevilla Allwood Cabin Kit Getaway.

Before you buy, you may want to read one of the reviews. Here’s one.

If you still want to buy, click here.

Amazon bounced over $2,000 today. Go figure:

The most profitable companies

By now, airlines should be the most profitable companies in the entire world.

They force us to do all the booking work and then penalize us if we get it wrong. Their systems are awful and
require huge time and huge patience to stumble through.

They give new meaning to stupidity. I entered my Delta frequent flyer number four times last night. Delta only loved it on the fourth try. The same number. I did nothing different, except swear at my screen, and think of that classic definition of stupidity.

I have the flimsiest of tips on how to make this online airline booking painless:

Let’s say you want to fly from New York to Seattle as I did yesterday. The first thing you have to figure out which
airlines fly from New York to Seattle. Google will help.

There are cute gotchas. Unless you put in NYC, the airlines will leave out Newark.

The next thing you do is go to Kayak.com and ask for flights on the dates you want. Keep that screen open and buy tickets on the airline you want to fly. There are gotchas — extra money for miserable legroom. But the best is that Delta’s pricey first class seats are not refundable — unless you pay another $350 per ticket! Ouch.

Don’t do stupid

+Don’t forget to not leave your wife’s social security number off your tax return.

+Always keep PDFs of all your tax returns on your working laptop, and its flash drive backup. Explanation: The IRS always loses my tax or Susan’s tax return every year. I have to print a new one and send it to them. They won’t take it electronically. Maybe they’re in cahoots to give the USPS more business?

They always gotta write about something

But this?

You need to be a doctor to know if you need to shower. I have a better system: Susan tells me I stink.

Favorite marketing.

Just in from Costco…

I guess I look like a bad credit risk.

Harry Newton, who has been pinching himself this week as tech stocks rose. Last time I pinched was late December 2018 when the market crashed…Here’s the past two years of Nasdaq:

Wimbledon is on ESPN and the Tennis Channel. On Friday Nadal plays Federer in the semi-finals. Should be epic. Watch how Nadal’s forehand ball curves violently. Watch Fed watch the ball. His eyes don’t leave his racquet until his ball is over the net. Keep your eye on the ball, not where you want to hit. And remember, you can’t think and hit the ball at the same time.

  • PhillyGuy

    Hmmm, that house kit on Amazon reminds me of another retailer that did that very same thing many years ago – Sears Roebuck. Will history repeat?

  • Dman

    Hey Harry……..Who is Rachel Chandler?

    Qanon is 1000% REAL. So what does that mean?

    It means the evil satanic democrat party is FINISHED!!!!!

    ……..enjoy REALITY…..fortunately you can’t delete that.

    ……..ROTGLMFAO!!!!!

    You rich NYC liberals won’t be able to walk the streets.

  • Dman

    “When you come to the fork-in-the-road take it”….Yogi Berra

    By the way Harry, keep an eye out for the news surrounding Planned Parenthood…..your evil satanic democrat party is finished. And Harry, if you have a pair of “red shoes” get rid of them immediately.

    Trump 2020 will then lead to Trump 2024…..now you know.

    Trust The Plan
    WWG1WGA
    Q