Previous Columns
8:30 AM Friday, March 10, 2006: Energy prices are coming down, at least for now. Soon might be a good to negotiate rates for next winter's oil and propane deliveries. This morning's jobs report is critical. Wage inflation (if it continues) will cause the Fed to lift interest rates several more times.

You can lead a horse to water.... Invest in a startup. Get rich beyond your wildest expectations. Nice idea. To this day, I still see three proposals a week. I haven't invested in one for several years. Reasons:
1. Their valuation is too high. They want me to invest big dollars for a teeny tiny share of the company. They keep the rest.
2. The product isn't ready. It just needs "a little more software," a little more refining, etc.
3. There are no sales, no revenues, no distributors and most importantly, no marketing plan for achieving any of the former.
4. They're not raising sufficient money. They're trying to grow the company on a shoestring. But they forget Newton's Number One Marketing Rule, namely they'll go down three marketing paths before they finally get it right. If they're well-funded, they'll have enough money for all the wrong paths and finally the right path. If they do not, they'll try to raise more money, won't and will go broke. Most do.

The biggest problem with startups is that entrepreneurs don't listen. They think they know everything. Sometimes they do. They'd better because they have your money. And if they spend it in ways you don't like, you'll develop major agita. Which will get worse when you realize that nobody -- and I mean nobody -- wants to buy your shares in floundering startup.

All-in-One Printer, Copier, Scanner: My friend Dan Good lent me an Epson CX5400 while we're in the desert.

The $175 Epson CX5400.

Using this printer, I have learned several things:

1. Epson software is miles better than Hewlett-Packard's.
2. Epson's web support is a million times better than HP's.
3. These cheap ink jet printers -- there are millions of them -- are slow, don't print as clean as a laser and consume vast quantities of expensive ink. But they're perfectly fine for casual printing. That does not mean running a business with one.
4. If you haven't used an ink jet printer for a while, you need to clean its heads. You do this by hitting buttons on the front of the printer. You need to clean the heads several times. Don't try doing it using the printer's software.
5. At a pinch you can print photos with this and other like ink jet machines. But my experience has been that places like YorkPhoto do a better, cheaper, easier job.

I like this photo. There's no other reason to run it. 90% of my readers have no idea why my generation remains fascinated with Marilyn.

Google's Cockroaches emerge a little more. Google dropped $11 yesterday. I closed my short at a profit. I might have let it run longer except for the fact that playing tennis and goofing off doesn't exactly keep your finger on the trigger. And you need to have it there when playing with ultra-volatile insanities, like Google.

Meantime, Google has bought a tiny company called Upstartle which has a web-based word processor called Writely. You write your documents online. Your friends and co-workers can work on them over the Internet. You save your documents to Upstartle's web site -- if you trust them. I can't see how Google will make any money on this -- unless it decides to charge for the service, in which case few will use it.

Jim Cramer's 25 Rules for Investing
I found these rules on the Internet. I've made some comments. The man is not unintelligent. What his picks lack in ascendancy, he more than makes up for in sheer energy.

Rule No. 1: Bulls, Bears Make Money, Pigs Get Slaughtered
It's essential for all traders to know when to take some off the table.
That's why I closed off my Google short yesterday.

Rule No. 2: It's OK to Pay the Taxes
Stop fearing the tax man and start fearing the loss man because gains can be fleeting.
In short, take the profits. Worry about paying the taxes later. I agree with this.

Rule No. 3: Don't Buy All at Once
To maximize your profits, stage your buys, work your orders and try to get the best price over time.
This depends on how much time you have.

Rule No. 4: Buy Damaged Stocks, Not Damaged Companies
There are no refunds on Wall Street, so do your research and focus your trades on damaged stocks rather than companies.
He means buy good companies whose stock prices have fallen for not-altogether logical reasons.

Rule No. 5: Diversify to Control Risk
If you control the downside and diversify your holdings, the upside will take care of itself.
I have preached the benefits of diversification. No one can predict the future. Diversification helps protect your capital.

Rule No. 6: Do Your Stock Homework
Before you buy any stock, it's important to research all aspects of the company.
Absolutely.

Rule No. 7: No One Made a Dime by Panicking
There will always be a better time to leave the table, so it is best to avoid the fleeing masses.
This is not easy.

Rule No. 8: Buy Best-of-Breed Companies
Investing in the more expensive stock is invariably worth it because you get piece of mind.
I don't like big mature companies. Sometimes they're the "best of breed." In short, don't buy junk. I agree.

Rule No. 9: Defend Some Stocks, Not All
When trading gets tough, pick your favorite stocks and defend only those.
In short, get out of the dogs.

Rule No. 10: Bad Buys Won't Become Takeovers
Bad companies never get bids, so it's the good fundamentals you need to focus on.
I agree.

Rule No. 11: Don't Own Too Many Names
It can be constraining, but it's better to have a few positions you know well and like.
Don't use managers or funds who have hundreds of stocks.

Rule No. 12: Cash Is for Winners
If you don't like the market or have anything compelling to buy, it's never wrong to go with cash.
Or with muni bonds.

Rule No. 13: No Woulda, Shoulda, Couldas
This damaging emotion is destructive to the positive mindset needed to make investment decisions.
Nothing will drive you nuts faster than revisiting your old idiocies.

Rule No. 14: Expect, Don't Fear Corrections
It is not always clear when a correction will strike, so expect and be prepared for one at all times.
Stocks decline. But always keep your stop losses tight.

Rule No. 15: Don't Forget Bonds
It's important to watch more than stocks, and bonds are stocks' direct competition.
Bonds give you peace of mind.

Rule No. 16: Never Subsidize Losers With Winners
Any trader stuck in this position would do well to sell sinking stocks and wait a day.
I don't like the use of the word "trader." But it is better to think that way today. You can't invest long-term any longer.

Rule No. 17: Check Hope at the Door
Hope is emotion, pure and simple, and trading is not a game of emotion.
Good luck with this one.

Rule No. 18: Be Flexible
Recognize and be open to the unexpected shifts in the market because business, by nature, is dynamic, not static.
When Strategy A doesn't work, try Strategy B.

Rule No. 19: When the Chiefs Retreat, So Should You
High-level executives don't quit a company for personal reasons, so that is a sign something is wrong.
Not always true.

Rule No. 20: Giving Up on Value Is a Sin
If you don't have patience, think about letting someone who does run your money.
But manage the managers. See yesterday's column.

Rule No. 21: Be a TV Critic
Accept that what you hear on television is probably right, but no more than that.
Everything you hear on TV is being said for a reason. Someone is trying to push something.

Rule No. 22: Wait 30 Days After Preannouncements
Preannouncements signal ongoing weakness, wait 30 days to see if anything has gotten better before you pull the trigger to buy.
He knows more about this rule than I do.

Rule No. 23: Beware of Wall Street Hype
Never underestimate the promotion machine because analysts get behind stocks and can keep them propelled in an up direction well beyond reason.
But you can also ride the escalator and make a few shekels along the way. Get out when the promotion stops.

Rule No. 24: Explain Your Picks
Buying stocks is a solitary event, too solitary in fact, so always make sure you can articulate your reasoning to someone else.
But not your wife.

Rule No. 25: There's Always a Bull Market
It's OK if you have to work hard to find it, just don't default to what's in bear mode because you are time-constrained or intellectually lazy.
There isn't always a bull market. Sometimes it's better to go for a walk, or play tennis.

The Pacific Life Open / Indian Wells Tennis Tournament starts this weekend: We're staying next to the La Quinta Tennis Resort, where most of the stars are staying. We've seen Andre Agassi, Roger Federer, Andy Roddick, James Blake, Maria Sharapova and others practice.

Roger Federer, #1. In person, he looks much bigger than he does on TV. He's a real sweetie.	Maria Sharapova, world's most driven teenager. She is seriously talented.

Here's the TV Schedule.

The Tennis Channel

Date	Start Time (PST)	Length
Sat, March 11	9:56 am	11:04	Live
Sat, March 11	9:00 pm	11:00	Repeat

ESPN2

Date	Start Time (PST)
Sun, March 12	1:00pm	Live	Early Round Coverage
Mon, March 13	11:00am	Live	Early Round Coverage
Mon, March 13	7:00pm	Live	Early Round Coverage
Tue, March 14	1:00pm	Live	Early Round Coverage
Tue, March 14	8:30pm	Live	Early Round Coverage
Wed, March 15	11:00am	Live	Women's Quarterfinal Men's 4th Round
Wed, March 15	9:00pm	Live	Women's Quarterfinal Men's 4th Round
Thu, March 16	11:00am	Live	Women's Quarterfinal Men's Quarterfinal
Thu, March 16	7:00pm	Live	Women's Quarterfinal Men's Quarterfinal
Fri, March 17	11:00am	Live	Women's Semifinals Men's Quarterfinal
Fri, March 17	7:00pm	Live	Men's Quarterfinal
Sat, March 18	2:30pm	Live	Women's Final
Sun, March 19	11:30pm	Delay	Men's Semifinal
Sun, March 19	11:00am	Live	Men's Final

The charm of old age:
It's their 50th Anniversary. Candlelit dinner, wine, etc.

She's in the mood and says: "Honey, let's go upstairs and make love."

He replies, "I can do one or the other but not both."

Harry Newton

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 is . You can't click on my email address. You have to re-type it . This protects me from software scanning the Internet for email addresses to spam. I have no role in choosing the Google ads. Thus I cannot endorse any, though some look mighty interesting. If you click on a link, Google may send me money. Please note I'm not suggesting you do. That money, if there is any, may help pay Claire's law school tuition. Read more about Google AdSense, click here and here.
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