Archive for October, 2007
Wednesday, October 31st, 2007
Dow Flat For 7 Years
The Dow has been flat for 7 years. Take a look at this chart (click it), it shows that the Dow, adjusted for inflation, hasn’t budged an inch in 7 years! On October 30, 2000 the Dow closed at 10,817. Yesterday, the Dow closed 13,792. You’d think you have a 3000 point gain but that’s […]
Comments Off on Dow Flat For 7 Years - Posted in Financial Safety by RichSlick
Tuesday, October 30th, 2007
It’s Not Easy Being Rich
If you had a couple of million dollars, what would you do with it? While many people desire to be rich, very few people ever get there and the lucky few who win the lottery end up being bankrupt within five years. Why? Managing a great deal of money isn’t as easy as it sounds. […]
4 Comments » - Posted in Financial Safety by RichSlick
Monday, October 29th, 2007
2 Million Foreclosures, 36 States Running Out of Water, Oil at $90 Barrel, The Next Great Depression?
If I recall from books like The Grapes of Wrath by Steinbeck, the conditions during the Great Depression of the 30’s don’t appear to be too different from what I’ve been reading recently in the news. I read this article from MSNBC about U.S. Water Supplies drying up claiming that 36 states will be suffering […]
1 Comment » - Posted in Watch Out by RichSlick
Sunday, October 28th, 2007
The Costco Upsell, Will It Ever End?
I love shopping at Costco but the upselling is getting ridiculous. I went shopping this weekend and as I was checking out with $300 worth of food, a roaming clerk came by and scanned my card. She started with the usual pitch, “Sir, can I ask you a question?” I quickly replied, “No, I don’t […]
4 Comments » - Posted in Raves by RichSlick
Friday, October 26th, 2007
Oil at €63 Per Barrel
Pretty amazing, oil hit €63/barrel today. What’s that? You don’t know what that € symbol is? It’s the symbol for the EURO which represents the currency of greater Europe. Most oil rich countries have decided that they prefer to get paid in € rather than $ so in the future, you’ll likely see the cost […]
2 Comments » - Posted in Financial Safety by RichSlick
Thursday, October 25th, 2007
It Takes Leverage To Get Rich
It occurred to me that one of the key corner stones of my wealth could be attributed to one thing: leverage. I know what you’re thinking, “oh great, leveraging is very risky, I don’t have that tolerance” but that’s where you would be wrong. I have actually leveraged many things to achieve the wealth I […]
4 Comments » - Posted in Slow Wealth by RichSlick
Wednesday, October 24th, 2007
Cash Tumbles In Again, $4600 Banked
Earlier this week, I banked $4600 with ETF Covered Calls and I’ve been asked how I pick my ETFs for covered call writing. It’s pretty simple, the ETF-Cashinator does most of the work as it scans all ETFs with my special criteria and spits them out in order of highest return possibilities. I look at […]
5 Comments » - Posted in MMO by RichSlick
Tuesday, October 23rd, 2007
FICO Scoring Is A Sham!
I’m getting sick of FICO. My score dropped from 825 down to 745 presumably because I took out some arbitrage money and took out a new car loan. Here are the “reasons” my score allegedly dropped: 1. The proportion of balances to credit limits on your revolving/charge accounts is too high. Analysis of consumer credit […]
5 Comments » - Posted in Rants by RichSlick
Monday, October 22nd, 2007
ETF Covered Calls Beats Major Indexes
Here’s a graphical representation of one of my accounts utilizing the ETF Covered Call strategy and it shows how my returns beat the Dow Jones Industrial Average, S&P 500, Russell 2000, and Nasdaq composite from Q1 thru Q3 2007. I’ll post the 2007 results sometime in January. First up, ETF Covered Calls vs. Dow Jones […]
3 Comments » - Posted in MMO,Money Management by RichSlick
Friday, October 19th, 2007
Heroin Addict Fix vs. Fed Liquidity Injection Fix
Have you ever seen a heroin addict get their fix? For those that don’t know what heroin is, “a strongly physiologically addictive narcotic C21H23NO5 that is made by acetylation of but is more potent than morphine…used illicitly for its euphoric effects.” In case you’ve missed it, the US Markets have been exhibiting systems of a […]