January 3, 2008 – stlplace

Looking back at year 2007

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Last Updated on January 6, 2013 by stlplace

rear view mirror

The following was my the new year resolution for year 2007. I am putting my comments in italic.

Personal
Spend more quality time with family and friends; cut Internet and TV time.
Did the first part, I did spend more time with my parents, brother’s family, and my wife (girl-friend). Whether quality or not is up to them to judge 🙂

Second part, I really need to cut more aggressively on TV and Internet. I need to do more reading this year.

Drive safely. Walk safely. Drive and walk safely.
I did ok. I drove more local vs. highway, because I felt it’s more relaxing to drive local. I need to exercise more.

Financial
Pay off the Home Equity Line of Credit (currently 8.5% interest rate).
Not done. As the rate dropping, I found it’s a good idea to borrow and invest if I can get better return than the borrowing rate. I think my debt is at very much controlled level.

Walter Schloss also beats S&P

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Last Updated on January 3, 2008 by stlplace

and he had done it for 47 years (maybe not every year, but compound annual return), that’s pretty good.

The following is quoted from Buffett 2006 shareholder letter, you can get the full letter at Berkshire web site:
……
Let me end this section by telling you about one of the good guys of Wall Street, my long-time friend Walter Schloss, who last year turned 90. From 1956 to 2002, Walter managed a remarkably successful investment partnership, from which he took not a dime unless his investors made money. My admiration for Walter, it should be noted, is not based on hindsight. A full fifty years ago, Walter was my sole recommendation to a St. Louis family who wanted an honest and able investment manager.