Michael Fang: ‘I’ve used FOLIOfn since 2000. I recently finally threw in the towel and moved my money to Schwab a couple months ago. This has nothing to do with the services that FOLIOfn provide, which are very good (and the website is first-rate). It has more to do with the concept of investing in ‘folios’. When you dollar-cost-average a mutual fund, you create one instruction per month, for example. When you dollar-cost average a folio, you could create as many as 50 transactions per month – each folio you set up can have up to 50 stocks. That turns out to be too cumbersome for me. It would have helped if I could have downloaded the transactions into Quicken or Money seamlessly, but FOLIOfn has repeatedly refused to implement that. You could download a QIF file and avoid manual keying, but the process is still cumbersome. Otherwise, it’s not bad. The cost is very reasonable.’
☞ Note that for trades you do within a retirement plan, tax accounting isn’t required, so at least there this would not be a consideration.
Pat: ‘I got into FOLIOfn after you mentioned it a couple of years ago. I kept thinking there must be a catch, it seemed too good to be true. It’s worked like a charm and they have improved the number of stocks that are available in their ‘window’ trades. I think it would be fine for the ‘magic formula‘ concept. I have a basket of 130 stocks that are up about 15% for the year. (Plus where on earth can you buy $100 worth of Berkshire Hathaway?)’
EVEN CHEAPER AUDIO BOOKS
Lynn: ‘Your local tax-supported library may offer free audiobook downloads through NetLibrary. If so, you can download these to your computer and optionally to your portable listening device. While Apple iPod is NOT compatible, there are plenty of Mp3 players that are. Also, Project Gutenberg has free downloadable audiobooks. Just be careful crossing the street.’
BOREF MAKES PAGE SIX
Joseph: ‘In case you missed it: the new issue (Nov/Dec) of Airports of the World has a story about Wheeltug on page 6.’
☞ Unfortunately, my corner newsstand is sold out of Airports of the World, and that issue of the magazine is not yet up on the Internet – only a teaser:
Behind the scenes on how to tow a multi-million pound jet
So I don’t know what it says.
Meanwhile, the President of Boeing Germany was on German TV yesterday with a report about the Chorus Motor and airplanes – Lufthansa jets were flying around in the background. I have a copy of the clip, but speak no German and made out only ‘sieben sechs sieben,’ so I don’t know what the interview said, either. But I doubt he went on TV to tell people Boeing sees little hope or use for the Chorus Motor.
The plane moved, guys. I know it’s hard to be patient, and I know that defeat may certainly be snatched from the jaws of victory somehow. But I keep thinking that if a motor the size of a watermelon can drive a Sieben Sechs Sieben varoom vaROOM der tarmac like eine kleine Golf cart, maybe it can power a VW Golf as well, and who knows what else.
If you saw the ’60 Minutes’ profile of Jim Cramer last night, you saw he really is a lunatic. A very smart one, to be sure. But don’t sell your puts.
2400 IS NOT DIVISIBLE BY 500
Ken Shirriff: ‘Here are the factors of 2400: 1 2 3 4 5 6 8 10 12 15 16 20 24 25 30 32 40 48 50 60 75 80 96 100 120 150 160 200 240 300 400 480 600 800 1200 2400.’
Nick: ‘2400 = 2^5 * 3^1 * 5^2 so there are (5+1)*(1+1)*(2+1) or 36 divisors of 2400.’
IT WAS THE OIL, STUPID
Quote of the Day
Guys, just remember: if you get real lucky, if you make a lot of money, if you go out and buy a lot of stuff, it's gonna break. You got your biggest, fanciest mansion in the world. It has air conditioning. It has a pool. Just think of all the pumps that are going to go out. Or go to a yacht basin any place in the world. Nobody is smiling and I'll tell you why: something broke that morning. The generator's out, the microwave oven doesn't work, the cook's gay. Things just don't mean happiness.~Ross Perot to Harvard B-School students, quoted in Forbes
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