|
|
COLD Steve Baker: “To your point . . . ‘do not complain about
the weather it is all relative’ . . . as I type this (in Winnipeg,
Manitoba Canada – sadly where I am right now) it is minus 32 degrees Celsius
with a 15 km wind making it with wind chill minus 42 (which is minus 43.6
Fahrenheit). Yes dressing in layers does keep you warmer but in this weather it
helps if the outer layer is a house!” MORE FREE MUSIC Vince: “Since you like pandora, you will
also enjoy theradio.
F Pandora really works
on my iPhone!
Not sure theradio is quite as far along. EXPENSIVE MUSIC Roger Booth: “I’m with you regarding a class action suit
against Sirius Radio. I have been trying to cancel for a couple of days, I keep getting different numbers
to call. The last one wanted me to pay
for something!” F It’s not possible to
cancel a Sirius subscription unless you have your account number. And somehow, they are even able to keep the
charges going after your credit card expiration resets. (American Express tried to help me, too, but
so far, no luck.) Peggy V.: “I have been trying since 4:00 pm today (Jan
2 2009) to cancel my subscription...it is now 7:14 pm. My son gave me
Sirius last year (2007) for Christmas and I don’t want to renew. I got a statement in the mail
today, statement date is 11/23/08, due date 11/23/08. Sirius was activated 12/23/07. I’ve been trying since I brought the mail in
to cancel, hold for 15-20 minutes, then get busy signal and have to start
over. I have other people living in the
house with me and can’t tie up the phone that much...don't have that many
minutes on my cell phone, can’t cancel online.
I was told if I don’t pay it will go to collections, I don’t want this
on my credit report and I don’t want extra charges.
F Tough. You’re just going to have to listen to Sirius
Satellite Radio. SHOE THROWING Peter Kaczowka: “Even
if (like me) you don’t support Iraqi journalist Muntadhar
al-Zaidi’s act of throwing his shoes at President
Bush, you must admit it is an example to would-be terrorists of a more
effective way to both express their views and gain public support. I say ‘shoe-throwers, not shoe-bombers.’ ” F Hear, hear! SELL RSW, SDS – AND
MAYBE EVEN TBT We
did okay, but there are two reasons to sell these “double-inverse” ETFs that profit from a decline in the S&P 500 (RSW and
SDS). The first reason, as noted last
week, is that the index could rise further.
The second less obvious reason – as explained in detail here – is that these funds (as
well as TBT, designed to rise twice as fast the
20-year Treasury bond falls) are “reset daily.”
Which means that if the index they’re short goes up 10% one day, they go
down 20% that day. And then if the index goes down 10% the next
day, they go up 20% the next
day. Which means (in this example) after
two days, your $1 million (let’s say, just to make it fun) has gone down 20%
the first day to $800,000 and then up 20% the next day to $960,000 – and you
are out $40,000 in two days. That
mathematical quirk can dwarf the 1% or so annual expense fee, and means you not
only have to be right about the direction of the market you are betting
against, but it also has to decline fairly steadily, without too much
choppiness along the way. So
– nicely as RSW did for us – and confident as I am that long-term
|
Webdesign by Marc Fest
©
1998, 1999, 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009
Andrew Tobias