Harry Newton's In Search of The Perfect Investment
Newton's In Search Of The Perfect Investment. Technology Investor.
9:00 AM EST, Wednesday, December 26, 2007: Something
seriously insane about committing to write a column the day after Christmas.
news today reinforces my mantra: "Cash is king." Warren Buffett's
Berkshire Hathaway had $45 billion+ in cash at end September. He is comfortable
with his cash. He has agreed to buy 60% of the Pritzer family's Marmon Holdings
(which runs Hyatt, etc.) for $4.5 billion and buy the remaining 40% in coming
years, the price depending on earnings. This is Buffett's BIG deal for
2007. Last year's big deal was Israel's Iscar Metalworking, which makes cutting
and I are not Warren Buffett, but if the master can avoid the "money
burns a hole in my pocket" pain and be satisfied with one major deal
a year, there's a key lesson for all of us. Patience makes huge sense. Cash
is also seriously good. It brings options and comfort.
as sick of sub-prime contagion articles as you are. But if you can take another
one, today's piece on Bloomberg's is very good, is very detailed and
is very long. It's called "Savannah
Cries About a Bicycle Left Behind in Reset of Subprime." The article
details some of the huge losses and some of the huge gains on sub-prime mortgages
of recent months.
Economist has a big double Christmas issue:
it, there's a wonderful article on Ivar Krueger, the world's greatest swindler.
The article quotes one of my favorite authors, John Kenneth Galbraith:
is the dangerous cliché in the financial world [that] everything depends
on confidence. One could better argue the importance of unremitting suspicion.
aspirin makes the most sense: Chest pains? Chew an
aspirin and get to the hospital instantly, if not sooner.
great medical myths revealed. I love this Reuters piece:
- Reading in dim light won¹t damage your eyes, you don¹t need eight
glasses of water a day to stay healthy and shaving your legs won¹t make
the hair grow back faster.
theories are among seven ³medical myths² exposed in a paper published
on Friday in the British Medical Journal, which traditionally carries lighthearted
features in its Christmas edition. (Lighthearted features are not necessarily
beneficial to good health)
Two U.S. researchers
took seven common beliefs and searched the archives for evidence to support
them. Despite frequent mentions in the popular press of the need to drink
eight glasses of water a day, they found no scientific basis for the claim.
The complete lack of evidence has been recorded in a study published the American
Journal of Psychology, they said.
The other six
in dim light ruins your eyesight. The majority of eye experts believe
it is unlikely to do any permanent damage, but it may make you squint, blink
more and have trouble focusing, the researchers said.
makes your hair grow back faster or coarser. It has no effect on the thickness
or rate of hair regrowth, studies say. But stubble lacks the finer taper of
unshaven hair, giving the impression of coarseness.
turkey makes you drowsy. It does contain an amino acid called tryptophan
that is involved in sleep and mood control. But turkey has no more of the
acid than chicken or minced beef. Eating lots of food and drink at Christmas
are probably the real cause of sleepiness. (Not to omit boring relatives!)
+ We use
only 10 percent of our brains. This myth arose as early as 1907 but imaging
shows no area of the brain is silent or completely inactive. (It's just that
90% of the brain fails to function properly, especially at election time.)
+ Hair and
fingernails continue to grow after death. This idea may stem from ghoulish
novels. The researchers said the skin dries out and retracts after death,
giving the appearance of longer hair or nails.
phones are dangerous in hospitals. Despite widespread concerns, studies
have found minimal interference with medical equipment.
was conducted by Aaron Carroll, an assistant professor of pediatrics at the
Regenstrief Institute, Indianapolis, and Rachel Vreeman, fellow in children¹s
health services research at Indiana University School of Medicine.
In the Hospital
A man suffered a serious heart attack and had an open heart bypass
surgery. He awakened from the surgery to find himself in the care of nuns at
a Catholic Hospital. As he was recovering, a nun asked him questions regarding
how he was going to pay for his treatment.
She asked if he
had health insurance. He replied, in a raspy voice, "No health insurance."
The nun asked
if he had money in the bank. He replied, "No money in the bank.."
The nun asked
, "Do you have a a relative who could help you?" He said, "I
only have a spinster sister, who is a nun."
The nun became
agitated and announced loudly, "Nuns are not spinsters! Nuns are married
The patient replied,
"So send the bill to my brother-in-law.
This column is about my personal search for the perfect
investment. I don't give investment advice. For that you have to be registered
with regulatory authorities, which I am not. I am a reporter and an investor.
I make my daily column -- Monday through Friday -- freely available for three
reasons: Writing is good for sorting things out in my brain. Second, the column
is research for a book I'm writing called "In Search of the Perfect
Investment." Third, I encourage my readers to send me their ideas,
concerns and experiences. That way we can all learn together. My email address
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