BAGAKOAA; September 4, 2012 I've Gone Viral

Post 706

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September/2012

I Have Gone Viral

 

Today we had a request from a former colleague and friend (Hello Michelle) to join our little blog.  The last time I pared down the list, I had about 53 people.  I am now at 67 people.  Some of whom I do not know, which is a bit of an eerie feeling.

 

After all I am putting myself out there a bit with all the crazy stuff I post.  What if I were to run for office?  (An idea that has been pitched to me twice since I retired.)  This would be good fodder to convince people that I am crazy.  Somehow that does not seem to matter now a days.   Ask the idiots still willing to vote for Moussori Congressman Todd Akin Republican.

 

Don't worry I would not run for office.  Thanks to my father and his late 70s early 80s cronyism, most of the great restaurants in Orange County are on the "Do Not Lunch There" list for most public servants. 

 

So you missed me yesterday.  No good excuse for not posting.  We were visited by Dennis who stayed the night so he and I watched Battleship on Apple TV.  It was better than I expected.  Beyond that it was quiet day in Croninland.

 

I fixed some barbeque chicken and carmelized corn, I'll give my chicken baste later.  I also fixed some decent Vodka Gimlets, using Belevedere Potato Vodka.  Not as good as Mr. Shanks at Hanna's, but it was OK.

 

This morning I learned a new thing about being retired.  Don't leave home in your slippers.  I took Jack to school today.  The round trip usually takes 6 minutes.  I figured, "Hey! (I usually like to get my attention before I talk to myself.), there and back in 6 minutes.  Casual shorts, T shirt with stains from cleaning the Barbeque last night and fuzzy slippers.  No need to change I will be right back."

 

I drop Jack off on this beautiful sunny 65 degree southern California morning and then my Bluetooth on my car starts ringing.  I can tell by Billy Joels tune "She's Always A Woman To Me" playing that it is my lovely wife.  I press the speaker and say "Good morning dear."

 

She kindly replies, "Good morning honey.  I know I have spoken to you in three and one half minutes, but I really missed you and wanted to hear your pleasant voice.  Would mind singing 'Girl of Mine' to me."  Well she might have said THOSE exact words, but I got the message.

 

We were out of creamers for her and her mom's coffee.  She wanted me to run to the grocery store and buy some more coffee creamer.  They I was fuzzy slippers, stained shirt, and jammy shorts.  I was quite a sight. 

 

As I set my two creamers on the counter, the cure checker was busy staring at my chest and asked if I had an Albertson's card.  I told her no.  She explained I could save about 2.80 cents on my purchase, again while staring at my greasy stained shirt.  I told her I do not have a card.  She must have felt sorry for me so she entered a number in and I got the discount.

 

I now know to dress up before taking Man Child to school.

 

Now some of you readers are very helpful.  Please keep in mind most of this blog is just the mindless ramblings of what goes on in our life.  I am not really looking for solutions to my problems or observations.

 

Uncle Chuck, thank you for letting me know I could put in a three way switch so I don't have to agonize over the life long quandary of who decided that up was on and down was off on a two way switch.

 

Butch, thank you for informing me that THEY only sell socks in packages of 18 pair and that is why I have so many socks.  First of all I was going for a laugh there and today I did see white socks sold individually.  You don't get the "I got nine pounds of cotton for two dollars" price, but you can buy a pair of socks.

 

Trust or Will

 

I was asked today if a person should have a trust or a will.  First of, I suggest anybody reading this to get the actual detailed answer from and Estate Attorney.  Here are a couple of things to keep in mind.

 

A will is a simple document designed to dispose of specific property per your instructions.  Such as, I want my complete Elvis poster collection to go to Waste Management.  (Since I know Devin will be throwing it away within minutes of my death, you might see something like that in a will.)  More seriously, you might see something to the effect of, I want all my worldly belonging to go to my spouse.

 

A living trust does that and much more.  It provides lifetime and after lifetime management of assets per your direction as long as you establish and fund the trust before you die.  It can also assist in passing much of the value of your assets through probate with minimal tax exposure up to a certain point of value.  (Currently at 5.2? million but expected to return to 1986 levels of one million)

 

A trust can also define your quality of life should you be incapacitated.  It can define type and cost of care.  You can even have directions to have your self unplugged under certain circumstances, commonly know as a DNR.

 

It allows you to define what happens to your stuff after you are gone and can in most states keep all that information as private and not open to public disclosure.

 

So a trust sounds good, but it is expensive and confusing to set up.  The difference can be thousands of dollars based upon the size of the estate and the number of "issues" (legal speak for kids and kids of kids and kids of kids who are not even born yet.).  PLEASE GET GOOD ADVICE.  This can be a very important decision and you should consult an attorney who specializes estate law.  I know a few if you need a recommendation.

 

OK I promised my chicken marinade.  Get your chicken parts and pieces and evenly distribute them in heavy duty zip lock bags.  (I think that is a trademakrk so little R and little TM and all that other stuff.)  Add about a cup of Jack Daniels, a cup of Orange Juice, the juice from one lime, a tablespoon of chopped or crushed garlic, a handful of chopped onion, a coupld of tablespoons of Montreal Chicken Seasoning (little R and little TM), six to ten drops of Cholula Sauce,and a cup of Ray's Original Barbeque Sauce.  Rattle the chicken around in those bags and jiggle them every hour or so.  Let them marinade for at least four hours but you can do them overnight.

 

You be ready to barbeque baby.  Let see why the gas went out of the market today.

Another Leg Down

  

The Dow was off .42% and the NASDAQ was barley up and the S&P was flat as most held tight when we got a bad manufacturing report.  We definitely live in a wait for some quantitative easing news world at the moment.  Whether it be from Bernanke next week or Europe this week, all the runners are staying on base and trying anything exciting.

  

This wait and see will prevail until we hear something or volatility breaks the 13,000 floor in the Dow or the 1400 floor in the S&P.

  

In our portfolios today we bought a couple of speculative stocks today mostly due to some interesting reads (Confirmed with homework) from a couple of the more professional newsletters I get.

  

I am easing into a position on NUSMF Nautilus Minerals Inc. (Nautilus) is engaged in the exploration and development of the ocean floor for copper and gold rich seafloor sulphide deposits. Nautilus holds tenement licences and explo- ration applications in various locations in the western and central Pacific Ocean and is establishing a pipeline of prospects for development. The Company conducts its operations primarily through its direct and indirect wholly owned subsidiaries. Its main focus is on developing a seafloor production system that can be used to extract resources from its seafloor prospects. Its Solwara 1 deposit is situated in the Bismarck Sea within the New Ireland Province of Papua New Guinea (PNG). Its subsidiary include Tongan subsidiary.

 

This is a very speculative play and I am in at $1.16 a share.  I am only using Vegas money, but see some interesting long term possibilities.  I have a 50% stop set and will be looking for 4-4.5 a share in 12-18 months.


In yet another energy play we started a position in DVN Devon Energy Corporation, an independent energy company, engages primarily in exploration, development, and production of oil, natural gas, and natural gas liquids. The company holds interest in various properties located in Rocky Mountains, Mid-Continent, Permian Basin, and Gulf Coast regions of the United States. It also owns oil and gas properties in Alberta, British Columbia, and Saskatchewan provinces of Canada. As of December 31, 2011, the company had total proved reserves of 3,005 million barrels of oil equivalent. It also operates approximately 24,000 wells. In addition, the company provides marketing and midstream services, such as selling natural gas liquids that are either extracted from the gas streams processed by its plants or purchased from third parties for marketing, and selling or gathering gas that moves through owned transport pipelines and unrelated third-party pipelines. Devon Energy Corporation was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

 

It has a huge margin of safety at a 1.1 Price to Book and we like the balance sheet.  We are in at $57.45 have a 20% stop in mind and will be looking for 75-77 by this time next year.  We will continue to add to this below 60 a share.

 

On The Horizon

 

We have a lot of economic reports coming out of Europe tomorrow as well as a GDP report coming out of Australia.  All should disappoint so look for a soft to scary opening tomorrow morning.  The market will be down about a point at the opening.

 

At home we have the mortgage app numbers and they should be positive, but ladened with refis, but a good report none the less.  We also have the non-farm activity report and it is expected to be up.  We are thinking yet another disappointment.  Look for unit labor cost to be flat.

 

This should lead to a down day say 1% down on the day.  Look for the VIX to creep up a bit tomorrow, gold to be up and oil to be down on a strengthen dollar.  

 

Now that I have channeled my inner John Maynard Keyens, I am going to bed.

 
Salve Lucrum

 

 

 

 

 

 

 

Brian Ireland
 
 
Since 7/26/2012
BAGAKOAA;

I am not a professional investment advisor. Anybody reading my blog and investing accordingly must be out of their minds. I have made more money than I have lost. There are many more qualified people than I to actually tell you how to invest your money.

BAGAKOAA=Boys And Girls And Kids Of All Ages

Salve Lucrum=Latin for Hurrah for Profit.

2012 Year Ending

Dow 13,073

S&P 500 1,358

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