Archive for November, 2007
Monday, November 19th, 2007
The Dollar About To Collapse?
Three interesting stories this weekend regarding regarding the US Dollar. First, Some OPEC members are becoming increasingly vocal about switching out of the US Dollar for oil purchases. RIYADH, Saudi Arabia (AP) — Iranian President Mahmoud Ahmadinejad said Sunday that OPEC’s members have expressed interest in converting their cash reserves into a currency other than [...]
No Comments » - Posted in Financial Safety,Watch Out by RichSlick
Saturday, November 17th, 2007
A Review of $6200 In Profits and A Look at $4100 Next Month
So yesterday’s options expiry was the most exciting yet because from October 22nd thru Nov 16th, I banked nearly $6200 in profits with my ETF Covered Call investing strategy. Here is a quick table to review the transactions: November 07 Profits Account Ticker Price Paid Shares Date Options Profit Sold Nov 16 Calls Options Status [...]
1 Comment » - Posted in MMO by RichSlick
Friday, November 16th, 2007
Banks Were Trying To Keep Up With The Joneses
It’s becoming clear that just about every bank out there was trying to keep up with the sub-prime Joneses. I’m not sure who the first was to take the plunge but they must have flashed some nice bling to start a chain reaction of banks trying to keep up with the bank Joneses. So now [...]
No Comments » - Posted in Financial Safety,Watch Out by RichSlick
Thursday, November 15th, 2007
Prosper.com – Gone in 18 Months?
I’ve been fascinated with Prosper.com since its inception. I wanted to get in and lend money to borrowers but I decided that a wait and see approach would be best. In that time, I’ve kept an eye on Prosper statistics, PF Bloggers results and the general commenting about it. I’m beginning to wonder if Prosper [...]
4 Comments » - Posted in Financial Safety,MMO by RichSlick
Wednesday, November 14th, 2007
Meow
One word post today: Meow….. Bookmark to: Hide Sites $$(‘div.d394′).each( function(e) { e.visualEffect(‘slide_up’,{duration:0.5}) });
2 Comments » - Posted in Financial Safety by RichSlick
Tuesday, November 13th, 2007
SIPC+Etrade=Insufficient Funds? Math Doesn’t Add Up
I’ve been on business travel recently and just getting back to discover Etrade on the verge of bankruptcy. People seem calm about the whole thing but SIPC might not have sufficient funds to cover all account holders. According to the SIPC website, they only have 1 billion in reserves. If I understand correctly, Etrade has [...]
3 Comments » - Posted in Financial Safety by RichSlick
Friday, November 9th, 2007
Bernanke To Congress, “Let’s Screw The Middle Class Out of $150 Billion”
In case you missed yesterdays testimony from Bernanke to Congress, the brain trust decided that the best way to solve the housing mess (e.g. $150 BILLION DOLLARS) was to screw the middle class by dumping the problem on the government (i.e. the tax payer). We all know the rich have fancy tax accountants to hide [...]
1 Comment » - Posted in The Fed by RichSlick
Thursday, November 8th, 2007
New Lexicon for the Federal Reserve and Ben Bernake
The New 21st Century Federal Reserve Lexicon Handbook Fedorin – a strongly physiologically addictive interest rate that is made by constantly reducing the Fed funds rate of but is more potent than the discount window and that is prohibited by the Constitution but is used illicitly for its euphoric effects (on the financial markets). Fedcaine [...]
No Comments » - Posted in The Fed by RichSlick
Wednesday, November 7th, 2007
Raked in $1500 This Week
Did a couple of buy/writes on ETFs this week to rake in $1500 and with only 8 business days left before options expiry, I hope to free up my cash and perhaps take the rest of the investing year off. I will have booked over 20% on all my accounts for the year assuming the [...]
No Comments » - Posted in MMO by RichSlick
Tuesday, November 6th, 2007
Asymmetric Financial Class Warfare
I read this fascinating article about Halo 3 Asymmetric Suicide Bombing and almost immediately, the thought of asymmetric financial class warfare popped into my mind. Is this how we ended up with the sub-prime mess and potential credit card meltdown mess? The world is broken down into the financial Have’s and the financial Have-not’s. It [...]