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The Isolated Blurt Thread V: For Vendetta

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I am all pampered and ready. All made up and smelling good.

Though one does get used to skipping some grooming steps when one is alone.

I mean, if no one is gonna touch them, why bother shaving the legs every day?
 
JohnnySavage said:
Last night 60 Minutes broke the story on how the market is rigged. This morning CNBC is saying, "We've been saying this for years!" JOHNNY said this before any of them.
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"Holding assets for long periods of time has the effect of lowering the risk of experiencing a loss in asset value."​

Stocks, Bonds, Bills, and Inflation
2006 Yearbook
Ibbotson Associates
Chicago, Illinois


​




Highs and lows
Range of returns for each asset class, rolling periods, 1926-2008

https://content1.vanguard.info/web/frsh_images/Chart-HighsLows.jpg


Stock market returns are represented by the Standard & Poor's 500 Index for the period 1926–1970, the Dow Jones Wilshire 5000 Index for 1971–April 22, 2005, and the MSCI US Broad Market Index thereafter. Bonds are represented by the S&P High Grade Corporate Index for 1926–1968, the Citigroup High Grade Index for 1969–1972, the Lehman Brothers U.S. Long Credit AA Index for 1973–1975, and the Barclays Capital U.S. Aggregate Bond Index thereafter. Cash is represented by the Citigroup 3-Month Treasury Bill Index. Past performance is no guarantee of future returns. The performance of an index is not an exact representation of any particular investment, as you cannot invest directly in an index

​
 
lovetoread said:
I am all pampered and ready. All made up and smelling good.

Though one does get used to skipping some grooming steps when one is alone.

I mean, if no one is gonna touch them, why bother shaving the legs every day?
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I never bother shaving my legs but I do wear perfume for me ;)

I feel better in general when I am always presentable, and even though I usually work from home, I do better when I am dressed, with shoes on and hair up.
 
trysail said:
"Holding assets for long periods of time has the effect of lowering the risk of experiencing a loss in asset value."
Click to expand...

In 1981 or so, I used a broker named Dean Witter. I remember sitting in the broker's office and bought some shares of Chi-Chi's. As soon as I said what I wanted, the broker said, "Done."

I left the office thinking that guy was really efficient... he took my order, sent it to the floor, executed the trade, and got the confirmation in a matter of seconds.

It took me about a year to figure out what happened: He "sold" me the stock from Dean Witter's account, not from the open market. DW then, at some time later covered the trade for their account. The result was that, in addition to paying the brokerage fee, I also paid a percentage or two premium to DW, who sold me the stock at one price, then covered in the market at a lower price.

With the rise of electronic trading, I never used a (retail) broker again and set up an account with IBG.

Today, the high frequency traders are doing the same thing DW did in the 80s, but at a massive scale, and to people they have no relationship with.
 
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JohnnySavage said:
In 1981 or so, I used a broker named Dean Witter. I remember sitting in the broker's office and bought some shares of Chi-Chi's. As soon as I said what I wanted, the broker said, "Done."

I left the office thinking that guy was really efficient... he took my order, sent it to the floor, executed the trade, and got the confirmation in a matter of seconds.

It took me about a year to figure out what happened: He "sold" me the stock from Dean Witter's account, not from the open market. DW then, at some time later covered the trade for their account. The result was that, in addition to paying the brokerage fee, I also paid a percentage or two premium to DW, who sold me the stock at one price, then covered in the market at a lower price.

With the rise of electronic trading, I never used a (retail) broker again and set up an account with IBG.

Today, the high frequency traders are doing the same thing DW did in the 80s, but at a massive scale, and to people they have no relationship with.
Click to expand...



As of 28 February, 2014, the S&P 500 has produced the following average annual COMPOUND total returns:

Code: 
1 Year:     25.37%
3 Years:    14.35%
5 Years:    23.00%
10 Years:    7.16%


These are absolutely staggering figures. That means if you'd put $1.00 into the S&P 500 index on 1 March, 2009, you'd now have $2.82 (as of March 1, 2014, if you'd reinvested the dividends and there were no taxes).



As Warren Buffett has repeatedly stated (in one form or another):
...Let me add a few thoughts about your own investments. Most investors, both institutional and individual, will find that the best way to own common stocks is through an index fund that charges minimal fees. Those following this path are sure to beat the net results (after fees and expenses) delivered by the great majority of investment professionals...​
-Warren E. Buffett
© 1997
​





A brief excerpt from the 2013 Annual Letter To Shareholders of Berkshire Hathaway Corporation:​


  • ...If you can enjoy Saturdays and Sundays without looking at stock prices, give it a try on weekdays.
  • Forming macro opinions or listening to the macro or market predictions of others is a waste of time. Indeed, it is dangerous because it may blur your vision of the facts that are truly important. (When I hear TV commentators glibly opine on what the market will do next, I am reminded of Mickey Mantle’s scathing comment: “You don’t know how easy this game is until you get into that broadcasting booth.”)


...Stocks provide you minute-to-minute valuations for your holdings whereas I have yet to see a quotation for either my farm or the New York real estate.


It should be an enormous advantage for investors in stocks to have those wildly fluctuating valuations placed on their holdings – and for some investors, it is. After all, if a moody fellow with a farm bordering my property yelled out a price every day to me at which he would either buy my farm or sell me his – and those prices varied widely over short periods of time depending on his mental state – how in the world could I be other than benefited by his erratic behavior? If his daily shout-out was ridiculously low, and I had some spare cash, I would buy his farm. If the number he yelled was absurdly high, I could either sell to him or just go on farming.


Owners of stocks, however, too often let the capricious and often irrational behavior of their fellow owners cause them to behave irrationally as well. Because there is so much chatter about markets, the economy, interest rates, price behavior of stocks, etc., some investors believe it is important to listen to pundits – and, worse yet, important to consider acting upon their comments.


Those people who can sit quietly for decades when they own a farm or apartment house too often become frenetic when they are exposed to a stream of stock quotations and accompanying commentators delivering an implied message of “Don’t just sit there, do something.” For these investors, liquidity is transformed from the unqualified benefit it should be to a curse.


A “flash crash” or some other extreme market fluctuation can’t hurt an investor any more than an erratic and mouthy neighbor can hurt my farm investment. Indeed, tumbling markets can be helpful to the true investor if he has cash available when prices get far out of line with values. A climate of fear is your friend when investing; a euphoric world is your enemy.


During the extraordinary financial panic that occurred late in 2008, I never gave a thought to selling my farm or New York real estate, even though a severe recession was clearly brewing. And, if I had owned 100% of a solid business with good long-term prospects, it would have been foolish for me to even consider dumping it. So why would I have sold my stocks that were small participations in wonderful businesses? True, any one of them might eventually disappoint, but as a group they were certain to do well. Could anyone really believe the earth was going to swallow up the incredible productive assets and unlimited human ingenuity existing in America?


...If “investors” frenetically bought and sold farmland to each other, neither the yields nor prices of their crops would be increased. The only consequence of such behavior would be decreases in the overall earnings realized by the farm-owning population because of the substantial costs it would incur as it sought advice and switched properties.


Nevertheless, both individuals and institutions will constantly be urged to be active by those who profit from giving advice or effecting transactions. The resulting frictional costs can be huge and, for investors in aggregate, devoid of benefit. So ignore the chatter, keep your costs minimal, and invest in stocks as you would in a farm.


My money, I should add, is where my mouth is: What I advise here is essentially identical to certain instructions I’ve laid out in my will. One bequest provides that cash will be delivered to a trustee for my wife’s benefit. (I have to use cash for individual bequests, because all of my Berkshire shares will be fully distributed to certain philanthropic organizations over the ten years following the closing of my estate.) My advice to the trustee could not be more simple: Put 10% of the cash in short-term government bonds and 90% in a very low-cost S&P 500 index fund. (I suggest Vanguard’s.) I believe the trust’s long-term results from this policy will be superior to those attained by most investors – whether pension funds, institutions or individuals – who employ high-fee managers...

-Warren E. Buffett © 2014​



​
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I don't remember a time when I had so much laughter and love in my life. Every day brings something fantastic and I'm damn glad I made the decisions I have.
 
After this brutally long, cold winter, it reached 40 degrees today! In the stores, I was sweating in my winter coat, I turned the heat off in my car and put the window down.
Why is it, that 40 degrees feels so warm in March, but so darn cold in October?
 
It's 77° here, and I just discovered that the AC in my truck isn't working. :mad:
 
Lorilei said:
It's 77° here, and I just discovered that the AC in my truck isn't working. :mad:
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That's hawt. :cool:

(I got my car's sunscreen out of the trunk today. Spring is here with a vengeance and the black interior of my car is sweltering).
 
RobDownSouth said:
That's hawt. :cool:

(I got my car's sunscreen out of the trunk today. Spring is here with a vengeance and the black interior of my car is sweltering).
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I am not pleased. It's only been a little over a year since I had the AC serviced.
 
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