Radical cost cutting measures have began at work.
Today, when I got my coffee, there was a sign on the coffee machine- "Effective October 21, there will be no more KCups". "We are going back to the old drip coffee". yummmm. One of the pleasures of work is the good coffee. Not anymore.
The hand soap dispensers have been ripped off all the break rooms so I can assume no more soap to wash our hands. I noticed this a few days ago and thought it was an angry employee. I don't think that's the case anymore.
Finally, we also learned that the company will no longer be putting oderizers in the bathrooms. I guess since the economy stinks, so will the employees.
Thursday, October 9, 2008
Groundhog Day and more carnage
I feel like we are in the movie Ground Hog Day. Repeat performance of every other day this month. 6th straight triple digit loss in the DOW.
I left for lunch today with the market being down 50 points or so. I get back and it is down over 600 points. It closed down 679. I felt physically ill.
Highlights (or lowlights):
GM lost 31% to close at $4.76- the lowest level since 1950.
FAF down almost 8! 27% loss in one day.
LFG down 37% to close at $12.85
All my positions- destroyed.
My Etrade account has to be down over 50%.
The carnage-
EGLRX $14.36
JSVAX $10.80
HFCGX $8.47
IGLIX $12.42
CAKE $10.90
SHLD $67.31
FAF $21.52
RAD $.52!!!!
C $12.93 (and they gave up on their bid to Wachovia- Wells is taking it)
GE $19.06 (and they announce 3rd quarter earnings tomorrow)
I have not checked my 401k. I do not want to get sick.
I went to the track after work and ran myself into the ground.
At least I have my health
Wednesday, October 8, 2008
Global Rate Cut, Market Still Tumbles
As rumored, The Fed cut rates by .5%.
Also, in an unprecedented coordinated move, central banks in England, China, Canada, Sweden and Switzerland and the European Central Bank also cut rates.
The market still closed down close to 200 points.
1600 points chopped off the past 6 days.
All of the talk in the media is of the market crisis. "Historic...unprecedented...First time ever..major recession". Such hyperbole.
Watch for a big market rally tomorrow. IBM announced earnings a week early tonight- they beat Wall Street's forecast by 4 cents.
Also, in an unprecedented coordinated move, central banks in England, China, Canada, Sweden and Switzerland and the European Central Bank also cut rates.
The market still closed down close to 200 points.
1600 points chopped off the past 6 days.
All of the talk in the media is of the market crisis. "Historic...unprecedented...First time ever..major recession". Such hyperbole.
Watch for a big market rally tomorrow. IBM announced earnings a week early tonight- they beat Wall Street's forecast by 4 cents.
Tuesday, October 7, 2008
Free Fall
Market continued to plunge dropping 508 points today after dropping 370 points yesterday.
Market closed at 9,447 and has dropped a little over 1400 points the last 5 days.
The S&P 500's 15 percent retreat since Sept. 30 is the third-steepest five-day drop on record.
So far this year, the S&P has tumbled 32 percent in the market's worst yearly slump since 1937.
``We've approached the edge of the cliff,'' Leon Cooperman, 65, who manages $6 billion at hedge fund Omega Advisors Inc., said at the Value Investing Congress in New York. ``Do we go over the cliff or begin to recede? History says we recede, but there's no guarantee. This is the most difficult financial environment I've lived through.''
There is hints that the FED may be cutting interest rates soon. The market ignored these hints as panic and selling continued.
In other news- had a good workout at the track. Ran 10 TEMPOs at 70-80%.
Market closed at 9,447 and has dropped a little over 1400 points the last 5 days.
The S&P 500's 15 percent retreat since Sept. 30 is the third-steepest five-day drop on record.
So far this year, the S&P has tumbled 32 percent in the market's worst yearly slump since 1937.
``We've approached the edge of the cliff,'' Leon Cooperman, 65, who manages $6 billion at hedge fund Omega Advisors Inc., said at the Value Investing Congress in New York. ``Do we go over the cliff or begin to recede? History says we recede, but there's no guarantee. This is the most difficult financial environment I've lived through.''
There is hints that the FED may be cutting interest rates soon. The market ignored these hints as panic and selling continued.
In other news- had a good workout at the track. Ran 10 TEMPOs at 70-80%.
Saturday, October 4, 2008
Bailout passes
Congress passed th $700 Billion bailout yesterday. Surprisingly, the market quickly dropped 450 points ending the day with a loss of 157.
Thank god this week is over.
The DOW opened this week at 11,431 and closed on Friday at 10,325. UGLY
C lost 18.44% (-$4.15) as Wells Fargo announced they are buying Wachovia thus bumping C's takeover attempt off the table.
Thank god this week is over.
The DOW opened this week at 11,431 and closed on Friday at 10,325. UGLY
C lost 18.44% (-$4.15) as Wells Fargo announced they are buying Wachovia thus bumping C's takeover attempt off the table.
Thursday, October 2, 2008
Bottoms?
BBY - down 5% today. 52 week low of $34.40. In 2 plus years of watching this stock, I have never seen it this low. This is a well run, good company. PE of 10.8. Forward PE of 9.7.
I sold on 8/11 at $45.85. Its is down 25% since then.
Could the market be predicting a very poor Christmas thus severly pounding the stock?
This is a BUY. BTW- tmmrw is Ex Dividend date.
MOS- down 41.27% today! Closed at $39.65. This stock was $160 in June.
MOS makes fertilizer and credit concerns (especially in Latin America) along with a slow down in the global economy are crushing this stock.
MOS widely missed Wall Street expectations and an analyst downgraded the shares.
For the period ending Aug. 31, Mosaic earned $1.18 billion, or $2.65 per share on revenue of $4.32 billion. Analysts expected a higher profit of $2.94 per share on revenue of $4.11 billion.
PE of 8.5. Forward PE of 2.35!
AAPL- closed at $100.10. Down $9 today- about 8%.
Apple was trading in the $170's in August!
PE of 19.5. Forward PE of 16.85
Is this entering value play territory?
I will revist these in the future.
I sold on 8/11 at $45.85. Its is down 25% since then.
Could the market be predicting a very poor Christmas thus severly pounding the stock?
This is a BUY. BTW- tmmrw is Ex Dividend date.
MOS- down 41.27% today! Closed at $39.65. This stock was $160 in June.
MOS makes fertilizer and credit concerns (especially in Latin America) along with a slow down in the global economy are crushing this stock.
MOS widely missed Wall Street expectations and an analyst downgraded the shares.
For the period ending Aug. 31, Mosaic earned $1.18 billion, or $2.65 per share on revenue of $4.32 billion. Analysts expected a higher profit of $2.94 per share on revenue of $4.11 billion.
PE of 8.5. Forward PE of 2.35!
AAPL- closed at $100.10. Down $9 today- about 8%.
Apple was trading in the $170's in August!
PE of 19.5. Forward PE of 16.85
Is this entering value play territory?
I will revist these in the future.
Market Update
Another disaster in the market. Dow down 348 (3.22%) to close at 10,482. S&P was down 4.03%. NASDAQ down 4.48%. The market is down or up triple digits everyday. Mostly down.
FAF got hammered- off 10% to close at $27.25 (down over $3).
GE got pounded also- off 9.5% to close at 5 1/2 yr low. GE sold $3 Billion worth of preferred stock to Warren Buffett on Wednesday at a price of $22.25 per share. Today, they announced a secondary offering of $9 billion worth of shares at a discounted price of $22.25 (same price given to Buffett yesterday). GE closed at $24.50 yesterday. The market quickly reacted to the secondary discounted offering bringing the shares down to close at $22.15. Way to go management! Way to think of the shareholders! horrible.
Congress votes tommorrow on the $700 Billion bailout bill tommorrow. It is expected to pass this time.
Some interesting quotes I read from Warren Buffett today describing the state of the economy:
"This really is an economic Pearl Harbor," Buffett said. "That sounds melodramatic, but I've never used that phrase before. And this really is one."
"In my adult lifetime, I don't think I've ever seen people as fearful economically as they are now."
He's hoping for the Bailout to be passed tommorrow-
If Congress doesn't approve the bailout plan soon, then "I will have done some dumb things."
In good news, I closed a $4500 deal today at work. Loan Modification company.
FAF got hammered- off 10% to close at $27.25 (down over $3).
GE got pounded also- off 9.5% to close at 5 1/2 yr low. GE sold $3 Billion worth of preferred stock to Warren Buffett on Wednesday at a price of $22.25 per share. Today, they announced a secondary offering of $9 billion worth of shares at a discounted price of $22.25 (same price given to Buffett yesterday). GE closed at $24.50 yesterday. The market quickly reacted to the secondary discounted offering bringing the shares down to close at $22.15. Way to go management! Way to think of the shareholders! horrible.
Congress votes tommorrow on the $700 Billion bailout bill tommorrow. It is expected to pass this time.
Some interesting quotes I read from Warren Buffett today describing the state of the economy:
"This really is an economic Pearl Harbor," Buffett said. "That sounds melodramatic, but I've never used that phrase before. And this really is one."
"In my adult lifetime, I don't think I've ever seen people as fearful economically as they are now."
He's hoping for the Bailout to be passed tommorrow-
If Congress doesn't approve the bailout plan soon, then "I will have done some dumb things."
In good news, I closed a $4500 deal today at work. Loan Modification company.
Tuesday, April 29, 2008
Real Estate thoughts
I think it may be my time to start really looking at buying property within the next 6-12 months. In the SoCal market, while still high, anything and everything is on sale.
Prices are reverting back to 2003 rollbacks.
People are simply walking away from their properties. Handing the keys to the lender. These are comp killers driving the market lower.
This coupled with the fact that interest rates are still at very low levels means opportunity.
As Warren Buffett says:
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
Prices are reverting back to 2003 rollbacks.
People are simply walking away from their properties. Handing the keys to the lender. These are comp killers driving the market lower.
This coupled with the fact that interest rates are still at very low levels means opportunity.
As Warren Buffett says:
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
Saturday, April 26, 2008
Today's workout
Strongman training-
I have been taking it easy and really trying not to aggravate my bicep. I have been skipping allot of the events.
12" log - clean and press each rep. 235/ 4 in 1:15.
-Hit 3 in less then 60 seconds. Bicep bothering me a little on these.
Yoke- 540/ 50ft, 620/ 50ft, 670/ 40ft
-back felt good
tire drags- 200+tire/ 50 ft x 2 sets
-heavy drag!
My weight is around 222. I have been making good upper body gains in the gym. Hit a big PR on Monday. Hit 265+ bands on the overhead.
My back is also feeling better. It has been jacked up for as long as I remember.
Update
This is my first post in quite a while.
Since my last past, I ruptured my bicep while training for nationals (missed nationals), spent 3 weeks in Central America, and almost took another job selling computer security software.
I ruptured my bicep shortly after my last post. I got sloppy during the tire flip (900 lb tire) and felt a pop in my right bicep. Unfortunately (dumb move), I did not get it treated immediately.
Over the past 2 months, I got an MRI and have seen 2 specialist. The first orthopedic thought I may be too late for surgery and said my right arm would never be 100% again. He said I would have 65%-75% strength in the arm. My bicep, while not a complete tear, did tear somewhat and since I did not get it fixed, it reattached (but in a weakened state). He said surgery could be an option but they would have to cut out another tendon (knee) to replace the bicep tendon. I thought this was a terrible idea.
The second specialist (who specializes in arm injuries) recommended I stop lifting any weights for the next 6 months after which he could reevaluate and could determine if he could operate. I also thought this was a terrible idea and told him I would not stop lifting weights. We compromised and I am not doing any pulling/ curling movements. He also gave me a script for a daily anti-inflammatory which I have been taking. It has been working. My bicep is not nearly as achy as it used to be and it seems to be getting better. I have a follow up appointment middle of next month.
Since my last past, I ruptured my bicep while training for nationals (missed nationals), spent 3 weeks in Central America, and almost took another job selling computer security software.
I ruptured my bicep shortly after my last post. I got sloppy during the tire flip (900 lb tire) and felt a pop in my right bicep. Unfortunately (dumb move), I did not get it treated immediately.
Over the past 2 months, I got an MRI and have seen 2 specialist. The first orthopedic thought I may be too late for surgery and said my right arm would never be 100% again. He said I would have 65%-75% strength in the arm. My bicep, while not a complete tear, did tear somewhat and since I did not get it fixed, it reattached (but in a weakened state). He said surgery could be an option but they would have to cut out another tendon (knee) to replace the bicep tendon. I thought this was a terrible idea.
The second specialist (who specializes in arm injuries) recommended I stop lifting any weights for the next 6 months after which he could reevaluate and could determine if he could operate. I also thought this was a terrible idea and told him I would not stop lifting weights. We compromised and I am not doing any pulling/ curling movements. He also gave me a script for a daily anti-inflammatory which I have been taking. It has been working. My bicep is not nearly as achy as it used to be and it seems to be getting better. I have a follow up appointment middle of next month.
Subscribe to:
Posts (Atom)