stlplaceWent to Harvard Square this evening, took some pictures (the quality is not as great as I liked, but you know it’s Harvard).
(Harvard Theater)
(Harvard Square, Sumner’s statue)
That would be exciting thing 10 years back, when I was still a college junkie. It still will be interesting, at least I plan to visit Harvard Square, where Paul Allen met with Bill Gates (in 1976?) and said:
“We got to start this (computer business), this thing (computer revolution) is happening without us.”
We all know what happened in last 30 years (hint: we all become Bill’s “slave”, in a way).
Interestingly, I read from Yahoo that Harvard has the most billionaires.
I will back to the River City on Thursday night. Time to look for authentic Chinese restaurant now. I already find it’s a challenge task esp. visiting small towns. Boston should offer more choices.
This is the second piece of Portfolio Management series. I started this series, mostly to record what I have learned in last few years, since I wrote Stock Lessons (as a beginner). The stock market since last year is humbling, but I also learned quite a bit in the process, with some real results. For instance: my stock portfolio is up about 51% YTD (year to date), vs. Dow’s +6.21% YTD, and S&P 500 +11.16%. Note I only use cash account and only long stocks in my account.
One thing I learned more recently is always keep some cash at hand, I can think of two reasons:
1) This one is easy, if I have some cash at hand, when some good stocks really go on sale (like at March 5 market lows), I can pick up them and feel good about it.
I mentioned him a while ago (via. WealthTrack program). Fox Business link here. He is probably one of the best mutual fund managers in the world (from his long term performance).
BTW, here is Jean-Marie Eveillard lastest buys (GuruFoucs).
From Fox Business.
My wife asked me why there are so many outraged people on those congressmen/senators townhalls (she reads that from WSJ). I used an analogy. Imagine the metro (or buses) during rush hours in Shanghai (I used to take a bus almost every Monday morning in early 1990s, from my brother’s place to my working place, a 1.5-2 hrs journey). Suppose you are the guy (or the lady) already on a bus, the bus is packed and the driver requested everyone move inside “a little bit” so that more people can squeeze in.
In this case, many old people protest against the reform because they are already covered in Medicare and they fear their coverage will be less generous, as you and I know, this country is running out of money. There is few such thing as win-win, or free lunch these days. More people got covered, but coverage will be less generous overall. Doctors will see more patients, possibly with less income (profit). Blah blah blah.
Hmm, interesting. Note Eliot is not licensed financial advisor. But many investing gurus (including Warren Buffett, John Bogle, Yale endowment fund head David Swensen) said index is the way to go for individual investors who don’t have time or don’t want to spend time to do own research.
Was talking to this to a close friend yesterday. My rationale of “not selling all at once” is because: it’s usually happens a stock (or something else) will go up in price after a person sells it. Very simple.
Appearently that’s what happened to some Tongkang Zijin shareholders in recent years (FT article “Woes after a windfall“). The story is a bit long, so let me summerize. Apprearently in June 2001 the residents in Tongkang villiage (in Fujian Province) received around Rmb1,338.85 ($196, £117, €138) Zijin stock for the compensation of their land use right. At the time Zijin was not in good financial shape and its stock was not listed. Eight years later, after the public listing at Hongkong and Shanghai (and fundamental change of the business), the stock is worth Rmb 800,000. Obviously not everyone kept the stock. Quote FT:
imbalance. Article here. This reminds me Wang Jianshuo’s latest article “I am a rich person?”
I started Financial Times subscription this week. Last week, I took advantage an offer (or a bait) of $49 for 6 months subscription. I have subscribed and read FT in the past (a few years ago when I did not know much about finance). The main reason is my WSJ and Barrons subscription are expiring, Barrons expires on Aug, WSJ on late Sept. While I enjoyed reading those two newspaper, I found the quality of those two paper are declining fast. Some obvious mistakes include printing same sentence twice (WSJ), paper becomes thinner and thinner (WSJ). As to Barron’s, they more or less get into what I would call “stock picking” business (guess the winners in the stock market, which is OK except they only show what they got right afterwards).