Our Buy List ended the month up 5.21%.
Our next milestone will be option expiration for Feb.
Oh yes, Facebook is going to file for an IPO tomorrow.
Don't get caught in the hype. Next year at this time will be an excellent buy opportunity for Facebook.
It is my guess that you will be able to buy twice as many shares next year for the same money as at the close of the IPO date. Again, that is my guess.
Tuesday, January 31, 2012
Nobody can teach this kind of economics......
http://www.lettersofnote.com/2012/01/to-my-old-master.html
A letter from a former slave to his master...147 years ago.
As to my freedom, which you say I can have, there is nothing to be gained on that score, as I got my free papers in 1864 from the Provost-Marshal-General of the Department of Nashville. Mandy says she would be afraid to go back without some proof that you were disposed to treat us justly and kindly; and we have concluded to test your sincerity by asking you to send us our wages for the time we served you. This will make us forget and forgive old scores, and rely on your justice and friendship in the future. I served you faithfully for thirty-two years, and Mandy twenty years. At twenty-five dollars a month for me, and two dollars a week for Mandy, our earnings would amount to eleven thousand six hundred and eighty dollars. Add to this the interest for the time our wages have been kept back, and deduct what you paid for our clothing, and three doctor's visits to me, and pulling a tooth for Mandy, and the balance will show what we are in justice entitled to. Please send the money by Adams's Express, in care of V. Winters, Esq., Dayton, Ohio. If you fail to pay us for faithful labors in the past, we can have little faith in your promises in the future. We trust the good Maker has opened your eyes to the wrongs which you and your fathers have done to me and my fathers, in making us toil for you for generations without recompense. Here I draw my wages every Saturday night; but in Tennessee there was never any pay-day for the negroes any more than for the horses and cows. Surely there will be a day of reckoning for those who defraud the laborer of his hire.
A letter from a former slave to his master...147 years ago.
As to my freedom, which you say I can have, there is nothing to be gained on that score, as I got my free papers in 1864 from the Provost-Marshal-General of the Department of Nashville. Mandy says she would be afraid to go back without some proof that you were disposed to treat us justly and kindly; and we have concluded to test your sincerity by asking you to send us our wages for the time we served you. This will make us forget and forgive old scores, and rely on your justice and friendship in the future. I served you faithfully for thirty-two years, and Mandy twenty years. At twenty-five dollars a month for me, and two dollars a week for Mandy, our earnings would amount to eleven thousand six hundred and eighty dollars. Add to this the interest for the time our wages have been kept back, and deduct what you paid for our clothing, and three doctor's visits to me, and pulling a tooth for Mandy, and the balance will show what we are in justice entitled to. Please send the money by Adams's Express, in care of V. Winters, Esq., Dayton, Ohio. If you fail to pay us for faithful labors in the past, we can have little faith in your promises in the future. We trust the good Maker has opened your eyes to the wrongs which you and your fathers have done to me and my fathers, in making us toil for you for generations without recompense. Here I draw my wages every Saturday night; but in Tennessee there was never any pay-day for the negroes any more than for the horses and cows. Surely there will be a day of reckoning for those who defraud the laborer of his hire.
Monday, January 30, 2012
In case you wish to add to the confusion....
http://www.chicagotribune.com/business/sns-rt-us-davos-reutersmagazine-salmontre80q1g2-20120127,0,7331753.story
Felix Salmon is a writer who writes very well for English literature. This is not necessarily good for writing about financial news. My guess is that most people who read financial news would prefer bullet point to prose.
"On top of that, finance is particularly susceptible to the kind of hubris that one finds in people who think that if they've made millions of dollars, they must be the "smart money," with an edge not only over the public but even over their fellow bankers and financiers. That, in turn, sets up some very easy morality plays. When the inevitable nemesis arrives, the weaknesses of the erstwhile Masters of the Universe are exposed for all to see, and those of us whose job it is to Explain Finance take every opportunity to spell out exactly what these prideful men got wrong. They weren't smart, they were stupid!
"If very intelligent, successful, and aggressive men like Robert Rubin, John Thain, or Jon Corzine could be so stupid, then, realistically speaking, everybody was stupid. And if everybody was stupid, then, in reality, nobody was quite as stupid as we now think they were."
Frankly, I am more of a Michael Lewis kind of guy.
Felix Salmon is a writer who writes very well for English literature. This is not necessarily good for writing about financial news. My guess is that most people who read financial news would prefer bullet point to prose.
"On top of that, finance is particularly susceptible to the kind of hubris that one finds in people who think that if they've made millions of dollars, they must be the "smart money," with an edge not only over the public but even over their fellow bankers and financiers. That, in turn, sets up some very easy morality plays. When the inevitable nemesis arrives, the weaknesses of the erstwhile Masters of the Universe are exposed for all to see, and those of us whose job it is to Explain Finance take every opportunity to spell out exactly what these prideful men got wrong. They weren't smart, they were stupid!
"If very intelligent, successful, and aggressive men like Robert Rubin, John Thain, or Jon Corzine could be so stupid, then, realistically speaking, everybody was stupid. And if everybody was stupid, then, in reality, nobody was quite as stupid as we now think they were."
Frankly, I am more of a Michael Lewis kind of guy.
MF Fine to Fail in just 1 week
http://www.bloomberg.com/news/2012-01-30/mf-global-told-s-p-it-had-never-been-stronger-one-week-before-collapse.html
"A week before MF Global Holdings Ltd. (MF) collapsed, its chief financial officer told Standard & Poor’s in an e-mail that the futures broker had “never been stronger.”
“MF Global is in its strongest position ever,” Steenkamp told S&P on Oct. 24, according to the letter to Representative Randy Neugebauer, a Texas Republican, from Craig Parmelee, a managing director at S&P in New York."
"A week before MF Global Holdings Ltd. (MF) collapsed, its chief financial officer told Standard & Poor’s in an e-mail that the futures broker had “never been stronger.”
“MF Global is in its strongest position ever,” Steenkamp told S&P on Oct. 24, according to the letter to Representative Randy Neugebauer, a Texas Republican, from Craig Parmelee, a managing director at S&P in New York."
Saturday, January 28, 2012
Buy List update
Our buy list is at 5.63%
we took a big hit with F when it increase revenue but missed the share target for earnings.
The street was expecting $.25 and they came in at $.20.
Thursday, January 26, 2012
Share buy back
http://finance.yahoo.com/news/most-share-buybacks-dont-pay-184507228.html
This report is about when companies choose to buy back their shares with the thought that the share price will increase with the buy back. I think the right thing to do is to give the money as a dividend instead and let the shareholder decide to purchase more stock if they wish.
This report is about when companies choose to buy back their shares with the thought that the share price will increase with the buy back. I think the right thing to do is to give the money as a dividend instead and let the shareholder decide to purchase more stock if they wish.
"According to the report, out of 380 companies in the S&P 500 that repurchased shares in at least five of the quarters, 84 companies bought shares when the stock price was high, and only 60 firms were able to buy low.
In addition, 72 companies saw poor returns within a year following share repurchases, versus 57 that saw good results."
Yesterday I read an article that stated Apple had $100 Billion in Cash and Securities. This amounted to over $100.00 per share. That would be a heck of a dividend.
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