Results tagged “Economy” from Big Money Tony

Goodbyes and Good Wishes to the Aughts

By
Big Money Tony
on December 30, 2009 10:13 AM |
So as the world bids adieu to the first tenth of the twenty-first century, the passage of time brought good and bad.  Rather than doing a list, I'd like to concentrate on a very narrow section of one major topic, the economy.

All I want to say here is how important it is to remember the charities you believe in.  Donating money, time, or product to a good cause should be about causes you care about.  Everyone has been affected by the economy, so I made an effort this year to spread the wealth, which I have none of.  But what I have, I make sure it goes around.  In particular, I will admit that I donate a large percentage of my donations to one particular group of organizations, those who help fight cancer.  But that is what I care about, so that is where my money will go.  So with that, here is the list of organizations I donated to in 2009.

I'm sure there are others I've missed, as I've dropped off loose change or cash to the buckets, boots, and boxes all across the region. For many of you, the donation could mean a tax deduction.  But for everyone, just remember to donate to causes you care about.

Happy New Year to All and let's hope for a better 2010 for everyone.

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Remembering

By
Big Money Tony
on June 10, 2009 6:13 AM |
This is a day I will never forget.  Two years ago, my mother passed away.  I am sorry to lay this heavy topic on you, but it is not to bring you down.  It is to remind everyone that there are still causes that need your support even in the bad economy.

My mother was only 56 when the cancer took her life.  It was a long year starting with her diagnosis in August 2006, which we found it had returned.  She had originally been diagnosed with non-Hodgkins Lymphoma in the 90's and fought it off.  After the recurrence, months of chemotherapy, doctors appointments, and two trips to San Francisco to visit her ailing mother, and then attend the funeral, then we had to a face a terrible week.  On the weekend, we went to the outlet mall and had a great Sunday brunch.  By Tuesday, she couldn't get out of bed, and the following Sunday we lost her.

She was a hard working person who worked many different jobs.  Finally, her last few years, she worked in retail and had time to spend on her hobbies.  One she was really good at and that was Chinese art/calligraphy.  She had intended to sell most of these paintings, but we decided to keep them in our family.

These are some of the places that deserve support in the fight against cancer.


I'm sure there are many others, but these get my support every year.  Some places do not just need money.  Many hospices will be happy to get your volunteer time or even a box of tissues.

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The Stock Market

By
Big Money Tony
on June 5, 2009 6:00 AM |
I don't like to brag.  Wait, I do, but I don't have a lot to brag about right now.  Back to the subject.  Since I was 18, I've had money in the market.  No, I'm not Series 7 licensed, or a screaming (rich) lunatic like Jim Cramer.  I was a poor kid working his way through college and decided to ride the .com financial wave.

And I did it well for years.  Mutual funds at first, then I graduated to dividend reinvestment programs direct from the companies themselves.  I owned Dial Corp, you know, the company that made Dial soap.  Soap!  Finally I got a real investment account from E-Trade.  I became a high flyer with my $1,000 account.  A funny thing happened along the way.  Stocks soared, I earned more and invested more.  All of a sudden, I'm watching stock prices every five minutes. Arrive at work, check messages for a bit, then check My Yahoo page for latest 15 minute delayed quotes.  Run a report, check the prices again.  Go to lunch, come back, check stocks before getting back to business.  4:30 rolls around, check for any end of day deals.  Finish work, head to happy hour and go home to check closing prices.  Repeat.

Then 2008 came around.  Does anybody but the media and those that work in the market check prices anymore?  I just realized I haven't looked at my dismal portfolio since Thanksgiving.  Sure, I hear or see prices in passing, but I'm not hung up on it.  What's the price of Apple today?  Who knows, who cares.  Sure the recession sucks, but it helped me in one aspect.  I saved time checking stocks.  Unfortunately that time got filled pretty quickly with Twitter and other time-sucking activities on the Internet.  Market please come back.  At least that obsession earned me money.

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Causes to Support

By
Big Money Tony
on February 19, 2009 10:13 AM |

When I started this site last year, it was meant as an outlet for the interesting things that I see or do.  Entertainment, politics, restaurants or just plain old goofing off.  But seriousness has to settle in occassionally, like my open discussions regarding investments and money.

Today, I am reminding everyone who has a regular job to donate if you can.  In this recession, people tend to hunker down and stop spending on many places, including charitable donations.  Some of those places end up hurting badly for funds to continue their cause.  I am providing a list below and will put it up in some fashion as a permanent fixture on this site, but if you have a place or places to donate money to, please don't forget them.

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Debate 08: Nashville

By
Big Money Tony
on October 7, 2008 9:03 PM |
Debate Town Hall style.  This one seemed better than their first debate in Mississippi.  Both seemed more active and in attacking mode on policy, but not personal.  Brian Williams on NBC immediately following said the audience participation was basically minimal.  I agree.

Since the questions were driven by 80 undecided voters instead of moderator Tom Brokaw, it's no surprise that the first half was dominated regarding on the economy.  Actually I shouldn't say dominated, it was the first half of the debate.  Fitting for a day the Dow dropped 500+.  After some discussion on healthcare, social security, and energy, they jumped right back into the economy an hour in.  What was most bothersome, at least to Brokaw, is that neither candidate followed the agreed to rules regarding time.

Both candidates pushed their platform and their strengths.  Obama on his "Change", surprisingly without actually using the word.  McCain on his experience.  I didn't see much that would make anyone lean one way or another.

My favorite line was Obama saying "The Straight Talk Express has lost a wheel" in response to a question about fixing social security.  McCain however fumbled this.  He said it was an "Easy Fix".  Identifying the problem is easy.  Lack of Supply vs. Overwhelming Demand.  There is no easy fix for this.  It shows McCain does have an economy problem.  Anybody with Econ 101 in their pocket knows it's not an easy fix.  Maybe McCain knows more than we do.

The debate veered toward foreign policy in the last 15 minutes.  Iraq, Afghanistan, and Russia.  Both candidates seemed to go on the attack making sure their platform is heard.  McCain used "My Friend(s)" several times.  Maybe it was a tactic to be more homey and friendly, like what is his running mate's personality.  But not overwhelmingly bad, like Palin's annoying way of answering everything.

The last question of the night came from a voter in New Hampshire via the Internet.  "What don't you know and how will you learn it?"  I do not believe Obama really answered it, but used it to summarize his platform.  In a way he did by stating those things.  McCain did something similar.  So it was a wasted question.

My personal analysis...another draw.  With no surprises or wow moments, we are left with mostly scripted answers.  Their individual personalities came out somewhat, but nothing to persuade one to vote either way.  On to October 15 for the final one, and apparently the one we'll all have to use to make final decisions.

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Going Down...Everything you own

By
Big Money Tony
on September 29, 2008 3:45 PM |
The House of Representatives rejected the $700 Billion bailout bill proposed by Secretary of the Treasurer, Henry Paulson and the Bush Administration.  The market responded in turn by dropping nearly 800 points.

A few months ago, I suggested that investor panic was irrational.  Today's reaction was not.  The bailout plan, while costly and very risky, was what the market in general wanted, actually maybe even needed.  Representatives from both sides were thinking about their current constituency and the reaction to such a large number, had the bill passed.  The problem is that they are not looking at the more important constituency...the future.

I'm not saying $700B is a drop in the bucket, but the ramifications of no bill are unimaginable.  If banks fail and the FDIC has to come in and save what they can, we'll end up bailing out too much anyways.  However that will come at two costs.  First, the account holders with more than $100,000, as they'll lose most every penny over that.  Second, the future spenders of America.  Those of us who own homes now have to ensure that we keep it that way.  Because it will be more difficult and costly to refinance or buy new property.  Simply the less diverse batch of banks, the less chance of good deals.

Right or wrong, some bailout bill needs to be passed.

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Debate 08: Mississippi

By
Big Money Tony
on September 26, 2008 9:27 PM |
So this was supposed to be the one about the War on Terror.  Events of the week however, put the Economy as subject #1, taking about the first half hour of the debate.  Same old, same old.  McCain to reduce taxes on the wealthy, cut spending.  Obama to reduce taxes for the needy, control spending, but spend where needed.  Of note, McCain wants to reduce the overall budget.  I wonder where from.

I did live blogging on the debate on Twitter and reading other Twitters while watching the debate.  The debate overall was boring, except McCain's references to Miss Congeniality.  That was hilarious.  I didn't know the Senate was a beauty contest.

It appeared that McCain was fresh and active, like he took a case of Red Bull before hitting the stage.  Obama, however, looked very tired.  The campaign has aged him.

Everything discussed tonight were things we've heard from the candidates in the past.  No new info.  It was boring and a draw.  However, one could say the Obama won because the War on Terror is McCain's strong suit.

On to the next debate, assuming McCain does not suspend his campaign beforehand.

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Investor Panic

By
Big Money Tony
on July 22, 2008 11:25 AM |
I'll start with the fact that I am not an investment advisor.  Anything I write here is strictly my opinion and should not be construed as advice.  It's simply the way I invest and see the market.

Well, I was met with much joy today.  Apple stock down $15.50, just a bit over 10%.  I've been investing since 1991.  I even remember the my first investment, in a little mutual fund called Monetta Funds.  I liquidated that in the late 90's for a 30% gain so I could wildly invest in anything with "Tech" or "Silicon" or ".com" in the name.  And those I did pretty well in, probably average 20% gains, although mostly short-term, so I paid through the nose in taxes.  I would have done better, but I waited until I was sure the tech boom bottomed out before bailing.

Back to Apple.  The first shares I bought about 3 years ago are at a cost basis of about $15/share.  So I have a 10x + gain as of the current market value about $150/share.  Today's drop is in part because Apple is only predicting a Q4 earnings per share of $1, when analyst's had previously forecasted $1.23/share.  This reminds me of CVS Caremark (back then just CVS Corp) in around 2004 when they announced a penny difference in EPS and their stock dropped 15 or 20 percent.

What's wrong is that both Apple and CVS in their respective big drops are that they are still profitable companies.  Investors panic.  I am not saying Phil Gramm was right that the economic problems are mental, but these two instances and the tech boom are instances that the market is not for the faint of heart.

Long Term is the way to go.  I said I bought my first shares of Apple around $15?  I worked for CVS and started in their Dividend Reinvestment Program in 1992.  They started an Employee Stock Purchase Plan in 1994 or so.  My shares cost me between $6 and $20 per share in that timeframe.  Current market price?  About $40/share.  How's that for growth?

My point?  The market is all one big mental pot with millions of brains in it.  But clearer minds prevail in the long run.

Again, I am not an investment advisor, however I do still own shares of Apple and CVS Caremark.  Do not take this information as advice without seriously researching the equities you plan to purchase.

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