Newton's In Search Of The Perfect Investment. Technology Investor.
8:30 AM Thursday, March 3, 2005: Saying
No is hard. The first lesson you learn is: Never ever give a reason. If
you do, you'll suffer doubly: First, you'll waste time justifying your reasons.
Second, you'll feel like an idiot because your reasons are based on emotion,
while his are based on the facts of day-to-day operations. He can always
out-argue your emotions.
The hardest part of saying No is violating the "relationship" you have
established by doing your due diligence -- a meeting or two, some emails, some
phone calls, etc. All these lead the mendicant to believe he's going to get your
money. The only solution is to say No earlier, which means develop a better
nose. Set up criteria: Size, location, product, industry, etc.
Think what our goal is: It's not to make the highest return on our money.
It's to protect our money. If we lose capital, we will never recoup it
in earnings. Repeat that mantra in the shower every morning.
Repeat also: It's my money. I am allowed to choose how I don't spend it.
is going to $62: There's too much demand around, not enough supply.
An expert writes "If there is anything consistent about the forecasters
it is their ability to "revise" their forecasts on a quarterly if
not sometime monthly basis. The other amazing ability that all of them have
since the beginning of "forecasting" is to underestimate demand and
overestimate supply - I have been in this business for over 40 years and it
has never changed. You have to wonder when such smart people will realize this.
My tech guys see prices possibly going to 62 dollars for WTI crude within the
next 30 days --- we don't say it is going to stay there but just the fact that
indicators point to it hitting this number is a little scary."
This week's 25th Wedding Anniversary Party:
I surveyed the attendees. Everyone had something wrong
with them. Prostrate problems. Back problems. Shoulder problems. Rare diseases
of the blood. I'm no doctor, but it struck me there are solutions:
+ More rest. Take a pillow to the office. Crawl under your desk for 30
minutes each day.
+ Less weight. Too many people are putting too much stress on their bodies
by being too heavy.
+ A little more exercise. Walking is not exercise.
+ Don't get upset at garbage. Life is too short. 99% of the time, the
problem will solve itself in time.
+ Tell the kids they need to help paying their own college bills. Explain
it costs $65,000 in pre-tax earnings to send a kid to college for one year.
What amazed me most. So many of my friends are all in denial. They think they're
5lbs overweight, when they're really 25 lbs overweight. They think by walking
to the subway, they're getting exercise. And the worst, they believe doctors
can cure them, when a simple lifestyle change would be far more effective.
Bernie Ebbers mounts the
"I am stupid and ignorant defense." People who met him
said they weren't impressed. But was he really that stupid? At his trial
this week, Bernie Ebbers, ex-head of WorldCom, explained, "I don't know
about technology and I don't know about finance and accounting." Ebbers
also said "I know what I don't know," he said, referring to
his lack of understanding of the technology WorldCom sold as well as its finances.
He said he did poorly in college, where his "marks weren't too good,"
and that he bounced from one job to another, working as a milkman, basketball
coach and warehouse manager, before he and a small group of investors started
the predecessor of WorldCom in 1983. Ebbers said his role was largely that of
coach. He said his main job was to motivate the sales and marketing team. "I
focused on the area I thought I could handle," he added, referring
to his role managing the sales force.
BubbleVision has gone truly nuts. Larry
Kudlow of CNBC last night strongly endorsed Carly for president of the World
Bank. He said she believes in free trade. He did not mention her disastrous
tenure at HP. Mr. Kudlow has never met a stock, a company, a politician, an
economist or a person he doesn't love. Kudlow substitutes enthusiasm for intelligence.
We must stop the White House from appointing Carly as World Bank president.
My site www.StopCarly.com is
receiving some attention. I've posted reader comments. Please keep them coming.
most incredible tennis court is on the heliport of
Dubai's new Burj Al Arab hotel, which bills itself as "the world's most
The cheapest room I could find was $1,333.33 for the night.
Perks of Being Over 60
1. Your supply of brain cells is finally down to manageable size.
2. Your secrets are safe with your friends because they can't remember them
3. Your joints are more accurate meteorologists than the national weather service.
4. People call at 9 PM and ask, "Did I wake you?"
6. You can live without sex but not without your glasses.
7. You have a new fascination hearing about other peoples' ailments.
8. You have a party and the neighbors don't even realize it.
9. You sing along with the elevator music.
10. You can't remember where you read this list.
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. That money
will help pay Claire's law school tuition. Read more about Google AdSense,
here and here.