Phantasmix Stock Blog

I’ve updated the sidebarI added a couple of new books that I’m currently reading (see below). Overall I’m reading four now, three of them are non-fiction, with only one being a detective story. I found it really ironic that the only fiction book I’m reading would have this paragraph:

He found that he read far less fiction these days; he felt a new hunger to understand, from a different perspective, the world in which he had grown up. Novels were all well and good for giving you a flavour of the times, but he needed facts and interpretations, the big picture.

I guess the same applies to me. And I don’t think it’s anything age-related, my Mom still reads fiction in mass amounts

I’d like to highlight one particular book: “Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill)” by David Cay Johnston. The tone of the book is very calm and some passages are so beautiful, you’d think you’re reading a novel (not that non-fiction can’t be beautiful).

As I don’t live in the U.S., I’m reading this as merely an observer. Although the book is sort of peaceful, it will astound and/or anger you. It’s an account of inner workings between corporations and the U.S. government. If you have a chance, at least pick it up at the bookstore and give it a chance.

John C. Bogle, founder and former chairman of The Vanguard Group said this:

“If you’re concerned about congressional earmarks, stock options (especially backdated options), hedge fund tax breaks, abuse of eminent domain, subsidies to sports teams, K Street lobbyists, the state of our health-care system, to say nothing of the cavernous gap between rich and poor, you’ll read this fine book—as I did—with a growing sense of outrage. Free Lunch makes it clear that it’s high time for ‘We the People’ to stand up and be counted.”

Currently reading

CNN: http://money.cnn.com/galleries/2008/fortune/0801/gallery.bestcos_toppay.fortune/index.html

When I saw the first few companies I thought to myself: “Great, unless you’re a lawyer, you don’t have a chance with these!” Not true, software developers can also do pretty well for themselves. There are more positions on that list of 25, but lawyers and IT people make up the majority. Interesting to read about some of the perks.

Kijiji – Ebay’s version of Craig’s List – has so far been a waste of time for me. I tried listing items on Kijiji 3 times, most recently last month. Three times is not a huge sample, but in every case I got seriously low-balled. Some of their offers are totally ridiculous, like 25% below my asking price or trade-in for some garbage.

So I have decided that though Ebay has become more expensive and confusing in the last few years, it’s still worth the effort and the expense. At least I nearly always get my desired price when selling there.

Added 5,000 to my existing position.

There’s a system in place on NYSE to prevent 1987 style event:

http://www.nyse.com/press/circuit_breakers.html

What happens if they halt and then re-open? Wouldn’t this increase the panic? Seems to me it would not prevent a drop, it would make it more gradual though, which I guess is the point.