Newton's In Search Of The Perfect Investment. Technology Investor.
8:30 AM Wednesday, January 12, 2005:
I spent all day yesterday in depositions. My head is bursting with investment
lessons. About the necessity for due diligence, how greed clouds judgment, how
blind optimism dispels logic, reality and commonsense. The specifics are for another
time. This morning we're starting early, again.
moving into earnings season. We will not see stunning earnings from
technology stocks. They're way overpriced. And earnings are simply not growing
strongly enough. There's still an overhang of inventory and factory capacity
is plentiful. It is not a time to be owning large tech stocks, like Microsoft,
Intel and Cisco. It's a time to be thinking of puts on overpriced
stocks like Amazon, eBay, Google, Sirius Satellite Radio, XM Satellite Radio,
Symantec, Research in Motion, and my continued favorite, AT&T.
"hot" stocks frenzy has evaporated. It's wise to be out of them for
Cash remains king.
Don't let anyone (e.g. a fast-talking broker) talk you into "putting
your money to work." Your money is working just fine in a 2.25%
insured bank savings account, or a 1.90% triple tax-free, perfectly-safe,
short-term municipal bond floater.
That's it for
this morning. The rest of today's column is fun. I'll keep the bad lawyer jokes
for another day. Enjoy.
Stolen from United Media's web site. Click
A lesson in dirty spelling:
A bus stops and two Italian men get on. They sit down and engage
in an animated conversation.
The lady sitting behind them ignores them at first, but her attention is galvanized
when she hears one of the men say the following:
Den I come.
Den two asses come together.
I come once-a-more.
Two asses, they come together again.
I come again and pee twice.
Then I come one lasta time."
"You foul-mouthed swine, " retorted the lady indignantly. "In
this country we don't talk about our sex lives in public!"
down lady," said the man.
"Who talkin' abouta sexa? I'm a justa tellin' my frienda how to spella
A husband and wife are getting ready for bed. The wife is standing
in front of a full-length mirror taking a hard look at herself.
dear," she says, "I look in the mirror, and I see an old woman. My
face is all wrinkled, my boobs are barely above my waist, and my butt is hanging
out a mile. I've got fat legs, and my arms are all flabby."
She turns to her husband and says, "Tell me something positive to make
me feel better about myself."
He studies hard
for a moment thinking about it and then says in a soft, thoughtful voice, "Well,
there's nothing wrong with your eyesight."
Services for the
husband will be held Saturday morning at 10:30 at St. Anselm's Memorial Chapel.
And now for my favorite tasteless cartoon:
I took friends
for dinner to Whole Foods on New York's Columbus Circle last night. They
were impressed. More customers. Good for WFMI, which is holding in. Funny
having dinner there. They weigh your food. Last time I took my son, my dish
cost $6.01. His mountain cost $17.73. That's a stark measure of
the cost of feeding children.