Archive for November, 2006

Friday, November 17th, 2006

GDX Options Expiry – Getting Called

Back in early October, I purchased 100 shares of GDX at $34.25 and sold the $35 call option for November 06 for $1.50.  It looks like I will likely get called today on this trade so my profit is estimated at 4 pct.  If I can continue these type of trades throughout the year then […]

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Thursday, November 16th, 2006

Recursive Credit Card Arbitrage – The Banks Downfall?

There are numerous blogs dedicated to discussing the so called “housing bubble” in which many speculative buyers borrowed heavily to buy homes in expensive areas (Nevada, California, Florida) hoping to score a big return in a short time period who are now drowning in mortgage debt. What is often not discussed are those people who […]

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Wednesday, November 15th, 2006

How Do You Handle Arbitrage Payments?

There are two schools of thought on paying back arbitrage deals. The first school says to pay only the bare minimum each month on the credit card. For example, you borrow $20,000 at 0% APR for 12 month. The credit card minimum payment (usually 4%) would be $800/month. This method allows you to keep the […]

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Tuesday, November 14th, 2006

Arbitrage Redux – $55k @ 0%

With my 0% Arbitrage ending in December, I decided to risk getting another credit card and transfer the balance over to the new card.  I successfully transferred 23k over to the new card and was given a generous credit limit of 30k.  As the balance transfer was rolling over, I received 0% APR checks from […]

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Monday, November 13th, 2006

Living for Retirement – A sad but true story

A friend of mine recounted a sad story for me this weekend about a man who had spent his entire life being frugal. He held off enjoying the nicer things in life so that he could retire at sixty and spend the rest of his days traveling around the world with his wife. His plan […]

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Friday, November 10th, 2006

Opt Out Experiment – 2 months later

In mid August, I went online over to OptOutPrescreen.com to stop the stack of credit card offers from coming to my home every week. It’s now been way over thirty days so I assumed that whatever needed to transpire to make the offers stop should have happened by now. Unfortunately, I am still getting credit […]

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Thursday, November 9th, 2006

The Get Rich Slick Program Diagram

This week I’ve written about the journey I took to become a Vice President and my subsequent anti-climatic disillusionment with reaching my goals at such as young age. The good news is that I created a new plan for my life that revolves around becoming independently wealthy so I can depart from the corporate world […]

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Wednesday, November 8th, 2006

Election Results yield higher inflation?

The elections are over and the results were interesting but here are some tidbits being glossed over by many…… Six states voted to increase the minimum wage in their states: OH – increase min. wage to $6.85/hr = 33% labor cost increase MO – increase min. wage to $6.50/hr = 26% labor cost increase MT […]

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Wednesday, November 8th, 2006

How do you Become a Vice President? Part III of III

I promised a diagram of the evolution of my job duties from Grunt to Vice President and it’s visible below. As a grunt worker I had little decision making capability and my job involved single boring tasks as assigned by my supervisor. As I progressed to supervisor I got to hand out the tasks I […]

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Tuesday, November 7th, 2006

How do you Become a Vice President? Part II of III

Yesterday I illustrated the path to how I became a Vice President by age thirty. A critical component that I didn’t cover yesterday however was making sure that you choose the right company that will help you achieve your goals. What is the right company? I started my career working for a mega oil company […]

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