Bought at $43 or so a year ago, it cratered . . . but yesterday rebounded, touching piercing the $50 mark at one point. With Guru’s blessing, I sold at a few pennies more than I had paid, earning for my trouble roughly what I would have earned if I had kept the cash in my interest-bearing checking account.
(I have an interest-bearing checking account! It bears interest at the rate of five one-hundredths of one percent! For each million I leave sitting there, were I ever to find a million dollars someplace, I am paid $41 a month! Pre-tax.)
Erich Almasy: “If you can’t raise the water, lower the bottom! NYTimes: “Water Levels Fall in Great Lakes, Taking a Toll on Shipping.”
. . . Drought and other factors have created historically low water marks for the Great Lakes, putting a $34 billion shipping industry in peril, a situation that could send ripples through the economy. . . .
If only we owned shares in the nation’s leading dredger. Oh wait — we do!
Listen: we may lose all our money, but after 14 years of this, I’m just having so much fun. This yesterday from AirInsight suggests that the three competitors in the “etaxi” field may have been winnowed to two — one of which has 10 airlines signed up, the other none — though it may announce some soon. I like to think WheelTug will win the competition. Then again, the more elegant solution does not always prevail (see: Betamax). As always: only with money you can truly afford to lose. But if it works, and we win, parent Borealis will be worth far more than the $12.25 at which is closed last night.
Quote of the Day
Capital is dead labor, which, vampire-like, lives only by sucking living labor, and lives the more, the more labor it sucks. --Karl Marx Capital as such is not evil; it is its wrong use that is evil. Capital in some form or other will always be needed. -- Gandhi~Gandhi
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