Yesterday I told you a little about naked puts and calls — games you always win (until you go broke). But what of writing “covered calls,” where you own the underlying stock against which you sell the calls?
Covered calls are perceived to be much less dangerous than naked calls (where you don’t own […]
We’ve been talking about options the last couple of days, so I wanted to warn you about a couple of ways to make money with options almost all the time.
I met this guy in the Eighties who was trading naked puts. His broker — a genius — had turned him […]
Friday I related reader Jonathan Huffman’s remarkable success running $4,000 up to $75,000 in twelve months trading options. (He did it in his spare time, while running the fundraising for a Miami arts organization.) At the same time, I offered my own dour thoughts on puts and calls — the occasional winner like Jonathan […]
Jonathan Huffman, development director for an art museum, writes:
“I would appreciate your thoughts on investing in options. Last year I took a $4,000 initial investment and turned it into $75,000. This year, performance like that has been hard to match, but I’ve learned a few lessons and, hopefully, have some skills to bring to […]
There’s nothing quite like leaning back in your bark-a-lounger (spelling? a dog’s recliner?) and reading a nice scrunched up copy of The Wall Street Journal. Let the other boys and girls go outside to play; I want my kids, when I have ‘em, reading the editorial page of The Wall Street Journal. Make ’em savvy […]
You’ve seen the little notice charities stick on their postage-free envelopes. In one variation or another, it reads: “Your stamp HERE helps us even more!”
But did you know how much? Putting your own 32-cent stamp there saves The Whales (or whomever) 76 cents. [10/96: WRONG! Mike Wyson of ZPG says it’s usually just 2 […]
I “did Oprah” the other day. What a nice experience. I had not actually seen the show before — perhaps the only living American with this distinction — and was impressed by how much information she and the producers contrived to pack into the hour.
But what I was really impressed by was […]
Who needs horses when you’ve got the market?
Yesterday I told you about Jeff Schatz, who’s up $190,000 in a few months riding trends for quick gains. It’s a less-than-zero-sum game (because of the transaction costs), but that doesn’t mean there won’t be winners, and Jeff is clearly winning. More power to him.
“Those who can, do,” a friend once told me; “those who can’t, write about it.” I thought it was insensitive to say the least — I was still at Harvard Business School, getting ready to take a job writing. But he went on to earn $40 million a few years later — his earnings for […]
Yesterday I rattled on about John MacArthur, so cheap he used to run his insurance company in his skivvies on broiling Chicago afternoons rather than spend money on air conditioning.
Today the heat wave continues as I quote a page from The Earth Pledge Book (Cronkhite Beach, Building 1055, Sausalito, CA 94965). Each page […]
Quote of the Day
I always wanted four children, my wife wanted two; we compromised on two.~Senator Chuck Schumer
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