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Monday, June 4, 2012

BP Predicts the Future of Cars (Hint: Yours Probably Isn't Part of It)

If you own a gas guzzler, here's a public service announcement for you: Sell it soon. According to global oil giant BP, you've got maybe 18 years left before that vehicle is obsolete -- and probably a lot less than that.

It doesn't really matter what kind of car you drive -- Ford or Chevy, Toyota or Nissan. If it's got four wheels and only runs on gasoline, it's headed for the scrap heap sooner rather than later.

That's the upshot of a new report out of BP entitled the "BP Energy Outlook 2030," which contains a wealth of information and speculation on the future of the global auto industry for the next 20 years.

Some of these things won't be news to you. For example, the observation that over the coming two decades:

The world's population will grow by 20% to approximately 8.2 billion souls.
Car ownership will rise three times as fast -- up 60% over the next 20 years.
Even with gains in fuel efficiency, global energy demand will rise 40%.

Other observations will downright shock you. For example, we're used to hearing that "as Detroit goes, so goes the nation," right? Maybe not. According to BP, while car ownership is still on the uptrend around the globe -- in China and India, in particular -- certain "mature markets" have already reached "saturation levels" at which car ownership will stagnate and decline.

And here's a newsflash: We're one of them. Even as U.S. population grows, car ownership per person in these United States has already begun declining and is set to drop even further over the coming years. That sounds like good news for car-sharing companies like Zipcar, but it's probably not good news for the used-car market generally.

$5 Gas? (Yeah, If You're Lucky)

More specific threats loom for older used cars in particular. You've probably noticed gasoline prices rising, right? Well, that trend is likely to continue and even accelerate in future years as the number of cars on the road globally increases, and gasoline and diesel fuel continue to provide the go-juice for roughly 87% of these vehicles.

Higher prices and limited supplies of oil, however, are going to catalyze an astounding increase in automotive fuel efficiency. Right now, U.S. cars require more than a gallon of gas, on average, to travel just 30 miles. But BP projects that by 2030, the average U.S. automobile will travel the same distance on just a half-gallon. Cars sold in Europe, meanwhile, have already hit that mark, and Chinese autos aren't far behind.

Turn On, Plug In, Gas Out

More miles to the gallon is good news, right? Well, yes and no.

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It turns out that replacing steel auto parts with plastic and aluminum only gets you so far in the race to fuel efficiency. Internal combustion engines, too, can only be tweaked so much. The real advances in fuel efficiency, says BP, will be a massive -- nearly wholesale -- shift in the market toward hybrid, plug-in hybrid, and all-electric vehicles.

BP estimates that current levels of "hybrid" adoption (currently just a couple percent of all cars sold globally) will balloon toward 20% by the end of this decade, cross the halfway mark a few years later, and comprise a supermajority (66%) by 2030.

The Bottom Line

What does all of this mean to you and the value of that minivan parked in your driveway? Maybe this is just an oil company's bias talking, but BP does not believe all-electric cars are the way of the future. BP's report cites driver worries about car range and the simple fact that all-electrics are downright expensive as obstacles to widespread adoption of the "EV" concept.

BP does, however, believe that we'll soon see a tectonic shift among car buyers toward hybrid vehicles that can run on battery power for daily commuting, then switch to gasoline for longer trip, giving the edge to cars like GM's Chevy Volt and Toyota's popular Prius. You don't necessarily need to rush right out and buy a $60,000 Tesla all-electric Model S Sedan, or even a cheaper Nissan Leaf just yet. But you really don't want to shell out $40,000 for a 15-mpg SUV today and get caught trying to trade the thing in 10 years from now, when the shift to 60-mpg hybrids kicks into overdrive.

If you are in the market for a new car now, or expect to be soon, it's time to give serious thought to making the switch to hybrids.

Motley Fool contributor Rich Smith does not own shares of any company mentioned above. The Motley Fool owns shares of Ford Motor and Zipcar. Motley Fool newsletter services have recommended buying shares of General Motors, Ford Motor, Zipcar, and Tesla Motors. Motley Fool newsletter services have recommended creating a synthetic long position in Ford Motor.

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Source: http://www.dailyfinance.com/2012/02/28/bp-predicts-the-future-of-cars-hint-yours-probably-isnt-part/

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Sunday, June 3, 2012

SEC Claims Dead Money Manager Sold Fake Bonds

Filed under: Investing, Investment, Crime

The Securities and Exchange Commission is going after the assets of dead money manager Joel David Salinas, accusing him and his partner, Brian A. Bjork, of defrauding investors of $50 million. The SEC sued Salinas's estate Monday in the U.S. District Court for Southern Texas.

The 19-page complaint alleges that the men created two firms -- Select Asset Management and J. David Financial -- to sell fake bonds. Salinas, founder and president of J. David, and Bjork, chief investment officer of Select Asset Management, offered yields of as much as 9% on the investments. The fraud began in 2004 and ended only recently, according to the lawsuit.

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Salinas died of an apparent suicide on July 17, according to the SEC, and left a note in which he took sole responsibility for the Ponzi scheme.

Texas authorities also took action against Bjork and Select Asset Management. The State Securities Board's inspections and compliance division has filed to revoke their state registrations, claiming that neither Bjork nor Salinas bought the bonds that Bjork sold to his clients.

Investors Include Basketball Coaches

A new twist in the story emerged Monday: At least two prominent basketball coaches lost money in the schemes.

Salinas was a founder of an elite high-school summer basketball program in Houston and a donor to college sports programs, according to a Bloomberg article, and his investors included college basketball coaches Lute Olson, former coach at the University of Arizona, and Scott Drew, coach at Baylor University. Several other coaches may have been defrauded as well.

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Source: http://www.dailyfinance.com/2011/08/02/sec-claims-dead-money-manager-sold-fake-bonds/

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Ask the Spud: Does Home Bias Ever Make Sense?

Q: The Global Couch Potato has one-third of the equity allocation in Canadian stocks, but Canada makes up only about 4% of the world markets. Aren’t you guilty of home country bias? – Jeremy D. I’m actually pleased that I’ve received this question several times in the last few months. Not long ago, it wasn’t [...]

Source: http://canadiancouchpotato.com/2012/05/22/ask-the-spud-does-home-bias-ever-make-sense/?utm_source=rss&utm_medium=rss&utm_campaign=ask-the-spud-does-home-bias-ever-make-sense

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Does Facebook Want to Place Your Face? Face.com Buyout Eyed

Filed under: Technology, Investing, Facebook

Facial recognition Facebook (FB) has been a bit of a shutterbug lately, and its latest snapshot may be to acquire face-recognition specialist Face.com.

Reports began to surface on Monday indicating that Facebook was looking to get over its post-IPO blues by snapping up the Israeli-based company that matches faces in digital photographs to the names of existing friends.

Some of the reports indicate that the rumored price tag would be nearly $100 million, a sum that would be small potatoes for a loaded Facebook that recently agreed to shell out $1 billion for photo-sharing speedster Instagram.

Smile for the Camera

The leading social networking website operator has been playing up its eye candy side lately. Last month's move to acquire Instagram turned heads, especially since reports indicate that it was entirely Mark Zuckerberg's idea.

Facebook rolled out its own dedicated photo-sharing app last week. The free Facebook Camera application for smartphones makes it easier to upload and view pictures on Facebook.

Sharing digital photographs has always been a big part of the social networking experience. Anyone who has seen the partly fictionalized The Social Network movie will know that the programming project that got Zuckerberg noticed at Harvard before Facebook was a photo-centric site where visitors voted on one of two student pictures. And, yes, the Facemash incident really did happen.

Time to Face.com the Music

In an interesting twist, Russian newspaper Vedomosti is reporting that Facebook may try to buy Face.com by going through Yandex (YNDX).

Yandex -- Russia's leading search engine -- teamed up with an investment fund to acquire an 18.4% stake in the photo-recognition specialist two years ago.

The report indicates that Yandex would be willing to accept a combination of cash and the now-depressed Facebook stock to sell its minority stake in the company, making it easier for Zuckerberg to grab the rest of the company.

Gallery: Facebook - A Timeline

Rumor Has It

The deal makes perfect sense, but don't be shocked if it doesn't pan out. Now that Facebook is flush with IPO cash, you can expect a lot of bogus rumors to tie the social networking behemoth with more than 900 million users to a lot of potential buyouts.

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Chatter happens, and it's going to be easy to tie Facebook to just about any tech acquisition. Now that Facebook's stock is trading comfortably below this month's $38 IPO price, it's easy to picture a desperate company trying to buy its way back to investing credibility.

Giving its recent history, it's easy to picture a deal that has something to do with pictures.

Motley Fool contributor Rick Munarriz does not own shares in any stocks in this article. The Motley Fool owns shares of Facebook.

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Source: http://www.dailyfinance.com/2012/05/29/does-facebook-want-to-place-your-face-face-com-buyout-eyed/

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Oil Near $106 as US Denies Plan to Release Crude

Filed under: Energy

Oil nears $106 as US denies plan to release crude

SINGAPORE (AP) - Oil prices rose slightly to near $106 a barrel Friday in Asia after the U.S. denied reports it and Britain plan to release some their strategic crude reserves.

Benchmark oil for April delivery was up 40 cents to $105.51 at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 32 cents to settle at $105.11 per barrel in New York on Thursday.

Brent crude for May delivery was up 55 cents at $123.15 per barrel in London.

Oil briefly dropped near $104 per barrel Thursday after reports said the U.S. and Britain had agreed to release spare supplies of oil in an effort to drive fuel prices lower. However, White House press secretary Jay Carney said there was no plan to release supplies.

Some analysts downplayed how much a possible release of supplies would lower prices.

"The price impact should a release actually develop would be largely psychological," energy analyst Ritterbusch and Associates said in a report. "A shortage of crude or products does not currently exist within the U.S. and European product markets appear adequately supplied."

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Oil prices have risen from $75 in October amid investor optimism an improving U.S. economy will boost crude demand. However, the Energy Department's Energy Information Administration said Wednesday that gasoline demand was down 7.2 percent from a year ago.

"Despite an array of pleasing economic data in recent weeks, the latest surge in the price of oil can hardly be justified from a fundamental standpoint," said Joerg Zeuner, chief economist at VP Bank. "The demand for crude remains relatively weak."

In other energy trading, heating oil was up 1 cent at $3.23 per gallon and gasoline futures gained 0.2 cent at $3.29 per gallon. Natural gas slid 1.4 cents at $2.27 per 1,000 cubic feet.

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Source: http://www.dailyfinance.com/2012/03/16/oil-near-106-as-us-denies-plan-to-release-crude/

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Traders Don't Expect Fed to Raise Interest Rate in 2011

Filed under: Economy, Investing, Market News

The Federal Reserve is unlikely to raise interest rates until mid-2012 in light of new unemployment figures, which signal a slow economic recovery, Reuters reported.

November's unemployment rate rose to 9.8% from 9.6% in October while the U.S. private sector added just 50,000 jobs -- about a third of what analysts had forecast -- the U.S. Labor Department announced Friday. Additionally, the underemployment rate, which includes both the unemployed and those working part time who are seeking full-time jobs, remained at a 17%, and the number of people out of work for at least six months increased to 6.3 million, the Labor Department said.

On the Chicago Board of Trade, short-term interest-rate futures traders aren't pricing in increases in the target interest rate for overnight lending between banks until May 2012, according to Reuters. Traders, who previously indicated that they thought the Federal government would curtail its plan to buy $600 billion in bonds to spur the economy, had been pricing in an interest-rate hike at about December 2011 before this latest jobs report.

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Source: http://www.dailyfinance.com/2010/12/03/traders-dont-expect-fed-to-raise-interest-rate-in-2011/

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Aetna Says Doctor Made Billing Error, But The Patient Is The One Who Owes $6K For MRI

Source: http://consumerist.com/2012/06/aetna-says-doctor-made-billing-error-but-the-patient-is-the-one-who-owes-6k-for-mri.html

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Weekend Rambling – TED Edition

We have a winner! Thanks for everyone who entered our contest last week! the contest closed and the winner is Nick Shamanski. Nick will be receiving a copy of the book next week. Hopefully everyone will pick up a copy seeing how its a great book for young people everywhere. I’m a huge fan of TED talks. [...]

Source: http://feedproxy.google.com/~r/Youngandthrifty/~3/d3eziNl0rhU/

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Beware of some daily deals – Groupon Fake Advertising

I used to receive the daily emails from Groupon. The main reason I unsubscribed was that some of the deals were getting worse and worse. Here is an example of a deal posted this morning. This sounds like an incredible deal. Too bad we don’t have water like that and women generally wouldn’t wear a bikini [...]

Source: http://www.canadianpersonalfinance.com/beware-of-some-daily-deals-groupon-fake-advertising.html

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A Vital Investing Lesson from the World's (Other) Dumbest CEO

Filed under: Investing

Another one bites the dust.

For weeks, Chesapeake Energy (CHK) CEO Aubrey McClendon has hogged the spotlight of investor ire and newspaper criticism, thanks to his self-interested and shady purchases of ownership stakes in his own company's oil wells. Considering that this is the same man who, in 2008, made leveraged bets on the stock, and was forced to liquidate most of his Chesapeake shares when hit with margin calls from his broker, you'd think this would cement McClendon's reputation as the dumbest CEO in the world.

Not so. Turns out, there's a new villain in town, and his name is Robert Stiller, (now ex-) chairman and founder of Green Mountain Coffee Roasters (GMCR).

Here We Go Again

Just as with McClendon and Chesapeake four years ago, Stiller's downfall owed to a combination of factors: Heavy purchases of his own company's stock on margin, a subsequent decline in the stock's value, and a resulting margin call by the bankers that made it necessary for Stiller to sell his shares to cover his debts.

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On Monday, these margin calls forced Stiller to liquidate 5 million shares of Green Mountain -- about $123 million worth of stock. This cost Stiller nearly half his 10% stake in the company. And on Tuesday, it also cost him his job.

You see, like most companies, Green Mountain has a policy forbidding stock sales except within certain predetermined periods, timed to comply with SEC regulations against insider trading. When Stiller's losses triggered a margin call, and the sale of stock to cover it outside of the usual trading window, he fell afoul of these rules. For this infraction, Green Mountain's board took away Stiller's chairmanship, although he will remain on the board.

Gallery: America's 10 Highest Paid CEOs: Which Are Worth the Money?
gallery

What's It Mean to Me?

If you're a Green Mountain Coffee shareholder, you already know what these events mean. Your stock's down roughly 50% over the past week.

But what if you avoided Green Mountain?

In that case, take the opportunity to learn from these CEOs' mistakes. Neither McClendon nor Stiller ever intended to face a margin call. They made leveraged bets on their companies, bets they thought would pay off -- and since they controlled the companies, who would know better than them?

Answer: Not you. Don't trade on margin. It might not cost you your job, but it can still cost you big.

Motley Fool contributor Rich Smith holds no position in any company mentioned. Motley Fool newsletter services have recommended buying shares of Green Mountain Coffee Roasters and Chesapeake Energy. Other Motley Fool newsletter services have recommended creating a lurking gator position in Green Mountain Coffee Roasters.

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Source: http://www.dailyfinance.com/2012/05/10/margin-calls-green-mountain-ceo-investing-mistakes/

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Why I Have No Faith in Market Timing

Earlier this week I described the market timing strategy outlined in Mebane Faber’s book The Ivy Portfolio. I chose not to editorialize too much, preferring instead to simply explain the strategy to readers who may have been unfamiliar with it. So let me make my opinion on this clear now: I do not recommend this [...]

Source: http://canadiancouchpotato.com/2012/05/17/why-i-have-no-faith-in-market-timing/?utm_source=rss&utm_medium=rss&utm_campaign=why-i-have-no-faith-in-market-timing

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International markets: a world of food at your fingertips, for a fraction of the price

Filed under: Food

When I was in my early teens, my mom and I discovered a fantastic cookbook, Asia the Beautiful. Filled with beautiful pictures and exciting recipes from obscure countries like Burma, Nepal, and Laos, it captured my imagination, and I filled the pages with bookmarks and annotations. A couple of years later, when I started cooking in earnest, I went back to the book and began working my way through the recipes that had gotten me so fired up.

My only problem was that I grew up in Northern Virginia in the late 1980's. Even using the list of suggested substitutions, I was still at a loss for many of the ingredients. Where could I find galangal or keffir lime leaves? Who had screwpine extract? Even lemongrass, which I can now see all over the place, was almost impossible to find back then. In my ever-widening search for exotic ingredients, I finally discovered the international grocery stores. After poking around some of the smaller, cramped places, I ended up at Lotte, a gigantic Korean supermarket. Inside its doors were most of the ingredients that I had been looking for, and some amazing ones that I had never imagined existed. I was in heaven.

Continue reading International markets: a world of food at your fingertips, for a fraction of the price

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Source: http://www.dailyfinance.com/2008/01/23/international-markets-a-world-of-food-at-your-fingertips-for-a/

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Millionaires: It Feels Good to Be Rich

Author(s):
Adriana Reyneri
Most Millionaires feel pretty good about how they’ve managed their wealth, according to a survey conducted by Millionaire Corner in May that indicates wealthy investors have few financial regrets.
When asked to identify their biggest financial regret, more than 54 percent of Millionaires said they had none. Only 14 percent of individuals with less than $100,000 to invest could say the same.
The single most significant source of financial remorse for Millionaires was “not making good stock picks” – a sentiment shared by 10 percent of investors with a net worth of $1 million or more not including their primary residence. But, few Millionaires expressed regret over other areas of financial management, such as not saving enough for retirement (8.4 percent), spending too much on material goods (4.2 percent), putting too much money into a house (3.7 percent) or not having a diversified portfolio (4.5 percent).
Financial regret weighs much more heavily on individuals with less the $100,000 to invest. Nearly one-third lament not saving enough for retirement and 16 percent say they regret having too much credit card debt. Younger investors – those under the age of 40 – express similarly high levels of regret over their insufficient retirement savings, spending too much on material goods and heavy credit card debt. What can younger and less wealthy investors learn from Millionaires?
Millionaires attribute their financial success primarily to hard work, education, smart investing and frugality. In other words, they tend to make their money the old-fashioned way – they earn it. Inheritance typically plays a relatively small role in building wealth for America’s millionaires. (The same can be said for high net worth investors - those with investable assets of $5 million to $25 million: See How to Become an Ultraa High Net Worth Individual.)
As a group, Millionaires are not big risk takers, preferring to preserve wealth rather than seek high returns in the current uncertain economy. Their top investment criteria is the level of risk associated with an investment, closely followed by a related factor, diversification. The reputation of a company where an investment is made and the tax consequences of investments are also top considerations for Millionaires. (Millionaire Corner research shows that many high net worth investors also favor principal protection in the current economic environment See our related story, Investment Strategies of High Net Worth Millennials.)
When asked to identify their best financial decision, Millionaires are most likely to say “making consistent investments in a retirement plan,” followed by “having a frugal lifestyle to allow me to save my money,” according to our May survey, which also indicates the housing crisis has affected the attitudes of Millionaires. Less than 13 percent of Millionaires count buying a home as their best financial decision ever.
Millionaires were least likely to regret “not saving for a rainy day,” “not asking children to shoulder more of their college costs,” and “not using money to help others.”
Related Content:
Millionaires: Buying a Home not Best Financial Move
Frugality Helps Millionaires Build Wealth

Source: http://www.millionairecorner.com/article/millionaires-it-feels-good-be-rich-6

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Saturday, June 2, 2012

Six investing themes for 65-year-olds

From maintaining a cash cushion to talking to your adviser, Rob Carrick offers up six investing tips for anyone in their 60s. ► MORE

Source: http://feedproxy.google.com/~r/GetSmarterAboutMoney/~3/HIE1qq3dQSc/rob-carrick-six-investing-themes-for-65-year-olds

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Now that Wesabe is officially closed, many users are looking for an alternative that offers the same flexibility and features -- for many this alternative is, or should be MoneyStrands.

MoneyStrands is a free tool that has helped people manage their money online since it launched in March 2009 -- and in short order has won a Webby award for the best of the web in the banking and bill-pay category. This honor is no surprise when you consider that MoneyStrands offers features you won't find in many competing tools such as Mint.

Like all modern personal finance tools, MoneyStrands can connect to a large number of banking and financial institutions, but unlike most competitors gives users the ability to manually upload their account data. This option is a must-have for those who don't want to give their login info to a third party, or who bank at a smaller bank or credit union that personal finance tools cannot connect to for automatic updates.

Continue reading Look out, Mint: MoneyStrands worthy money management competition

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Source: http://www.dailyfinance.com/2010/08/11/look-out-mint-moneystrands-worthy-money-management-competition/

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More Tax Tips From the Pros

Filed under: Tax, Taxes

We gathered top tax tips from tax professionals

Last week, I shared my top tax season secrets with you. I also emphasized that there's no one-size-fits-all approach to taxes. To give you a wide range of advice, I asked a number of tax professionals from all over the globe for their best tax tips for tax season. Here's what they had to say:

Continue reading More Tax Tips From the Pros

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Source: http://www.dailyfinance.com/2011/03/14/more-tax-tips-from-the-pros/

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Does Wall Street Have Your Best Interest At Heart?

It's no secret that Wall Street is an essential part of the United States' overall economy. Without it, the infrastructure would be severely threatened. Knowing how important it is, you would think that Wall Street investors would have the public's best interest at heart, seeing as how if the system falls apart, the economy might not be too far behind.

Unfortunately, it has become clear in recent years that Wall Street definitely doesn't "have our backs," which makes it hard to know who to trust as you attempt to strengthen your retirement plan.

An Ongoing Issue

Investors defrauding their clients is a tale as old as time. Or, at least, almost. Although some clients have become more astute concerning certain practices and warning signs, a great number of them simply go about their daily business, unaware that a problem might be lurking around the next financial corner.

The problem seems to have gotten worse over the past few years. If not the frequency, at least the severity. Take the case of Bernie Madoff, for example. He defrauded millions out of investors, even the more savvy ones. Yet most people haven't taken any steps to protect themselves, because they trust the people they're working with. Arguably, so did Madoff's clientele.

If you want to protect yourself, now is the time, and no financial advisor worth his or her weight in gold will question your motives for doing so. After all, it is your retirement we're talking about here.

A Public Resignation

The financial world can be a cutthroat business. Just ask Greg Smith.

Greg started out as a summer intern for Goldman Sachs. He worked for the company for nearly two decades, and the job took him from New York to London, and he moved all the way up to an executive position. His growth with the company is what many employees would kill for. And what did he do? He quit.

The reason why he quit was covered in an op-ed piece he wrote for the New York Times. He used it as a letter of resignation and laid it all out very candidly. He explained that he had been given the opportunity to witness the inner workings of a large financial company and he didn't like what he had seen. He recounted how Goldman Sachs had once been a great company, but in recent years, he had witnessed a number of events where the focus had been taken off of client satisfaction and placed onto the company's bottom line. He also indicated that the financial giant could become what it was once again, but as long as they continued down the path they was currently on, he wanted no part of it.

Who Can You Trust?

Seeing as how companies like Goldman Sachs and investors like Bernie Madoff haven't had the clients' best interest at heart (in the case of Madoff, that is a gross understatement), it is important that you take steps to protect yourself. Don't simply choose a financial company to advise you in your retirement plans because of name recognition. Get a feel for how they do business and how they treat you. If you're especially skittish, start with a small investment and grow your portfolio as you gain confidence in their ability. And don't be afraid to get a second opinion from an outside source who can analyze your financial strategy and make sure that the course your advisor has set up is a wise one.

Source: http://firstsecurityfinancialshow.com/blog/bid/136348/Does-Wall-Street-Have-Your-Best-Interest-At-Heart

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Walgreens Thinks Buying 2 For The Price Of 3 Is A "Great Buy!"

Source: http://consumerist.com/2012/06/walgreens-thinks-buying-2-for-the-price-of-3-is-a-great-buy.html

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Millionaires: It Feels Good to Be Rich

Source: http://www.millionairecorner.com/article/millionaires-it-feels-good-be-rich-5

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Performance of the Horizons Enhanced Income Equity ETF (HEX)

Horizons launched a whole slew of covered call ETFs last year of which the Horizons Enhanced Income Equity ETF (HEX) turned out to be the most popular. Enticed by the initial yield of about 20%, investors purchased as much as $247 million worth of HEX last year. The ETF invests in an equally-weighted portfolio of [...]

Performance of the Horizons Enhanced Income Equity ETF (HEX) is brought to you by Canadian Capitalist -- Helping you to invest & prosper.

Source: http://feedproxy.google.com/~r/ccapitalist/~3/BtQD8DJXPAA/

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Well...he's gone

We dropped him off yesterday morning at the airport with his group. He seemed rather indifferent to the fact that his mother was slightly traumatized at sending her baby off to Europe without her. Darn 17 year old boys LOL. While his excitement level was hard to detect around family, it was clear when he got with his friends that he really was pumped up for this once in a lifetime adventure. Once in a lifetime...cuz his mama ain't footing the bill again for a trip for him :-) We saw him through customs (no beeps!!!) and then left him in the capable hands of his teacher and vice principal. The first leg of their journey was on a small plane. 50 seats. Their group took up 28 of them. I pity the regular folk on the plane LOL

I gave him a book to record events happening (as suggested by his teacher) and advised him to record his expenses as well. I offered him the reward of keeping half of the spending money he returns home with, IF he returns home with money and IF he records his expenses. We shall see how this goes.

As a farewell, we went to the Hunger games Friday night. After three weekends of playing with multiple shows per day, the 6 PM was sold out before we got there. We got some of the last seats for the 7 PM. While they did not remain true to the novel (what movie does), I thought they did a good job of the movie. I'd go see it again :-) DS1 hadn't read the book so DS2 and I had a great discussion on the novel/movie contrast and comparison.

Happy Easter everyone.

Source: http://shakingthemoneytree.blogspot.com/2012/04/wellhes-gone.html

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Millionaires: It Feels Good to Be Rich

Author(s):

Adriana Reyneri

Most Millionaires feel pretty good about how they’ve managed their wealth, according to a survey conducted by Millionaire Corner in May that indicates wealthy investors have few financial regrets.

When asked to identify their biggest financial regret, more than 54 percent of Millionaires said they had none. Only 14 percent of individuals with less than $100,000 to invest could say the same.

The single most significant source of financial remorse for Millionaires was “not making good stock picks” – a sentiment shared by 10 percent of investors with a net worth of $1 million or more not including their primary residence. But, few Millionaires expressed regret over other areas of financial management, such as not saving enough for retirement (8.4 percent), spending too much on material goods (4.2 percent), putting too much money into a house (3.7 percent) or not having a diversified portfolio (4.5 percent).

Financial regret weighs much more heavily on individuals with less the $100,000 to invest. Nearly one-third lament not saving enough for retirement and 16 percent say they regret having too much credit card debt. Younger investors – those under the age of 40 – express similarly high levels of regret over their insufficient retirement savings, spending too much on material goods and heavy credit card debt. What can younger and less wealthy investors learn from Millionaires?

Millionaires attribute their financial success primarily to hard work, education, smart investing and frugality. In other words, they tend to make their money the old-fashioned way – they earn it. Inheritance typically plays a relatively small role in building wealth for America’s millionaires. (The same can be said for high net worth investors - those with investable assets of $5 million to $25 million: See How to Become an Ultraa High Net Worth Individual.)

As a group, Millionaires are not big risk takers, preferring to preserve wealth rather than seek high returns in the current uncertain economy. Their top investment criteria is the level of risk associated with an investment, closely followed by a related factor, diversification. The reputation of a company where an investment is made and the tax consequences of investments are also top considerations for Millionaires. (Millionaire Corner research shows that many high net worth investors also favor principal protection in the current economic environment See our related story, Investment Strategies of High Net Worth Millennials.)

When asked to identify their best financial decision, Millionaires are most likely to say “making consistent investments in a retirement plan,” followed by “having a frugal lifestyle to allow me to save my money,” according to our May survey, which also indicates the housing crisis has affected the attitudes of Millionaires. Less than 13 percent of Millionaires count buying a home as their best financial decision ever.

Millionaires were least likely to regret “not saving for a rainy day,” “not asking children to shoulder more of their college costs,” and “not using money to help others.”

How To Make Web Coin With Real Estate Agents

Photo: Images_of_Money If you’ve read part one and part two of my side income hustle series here on Modest Money, there’s a running theme through my articles. And that theme is that there’s opportunity on the web like never before. … Continue reading →

Source: http://feedproxy.google.com/~r/ModestMoney/~3/FxRhpf1hz3Y/

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Friday, June 1, 2012

The 10 Biggest U.S. Corporations In 1812

Before there were tech companies, there were industrial companies. Before there were industrial companies, there were railroads. Before there were railroads, it was banks, all the way down.

Source: http://www.npr.org/blogs/money/2012/04/11/150437606/the-10-biggest-corporations-in-the-u-s-in-1812?ft=1&f=127413671

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Find-And-Replace Is Not A Good Idea When Porting Kindle Texts To Nook

Source: http://consumerist.com/2012/06/find-and-replace-is-not-a-good-idea-when-porting-kindle-texts-to-nook.html

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How to Profit From the Biggest Potential Crises of 2012

Filed under: Investing

By Lawrence Meyers, InvestorPlace Contributor

Depending on how you view things, we either are in heaps of trouble economically or about to emerge from a terrible recession. Personally, I think it's the former. I always like to have a few trades on my watch list to take advantage of possible crises, as uncertainty creates opportunity. So in looking ahead for 2012, I'm looking to exploit other people's woes like the good capitalist I am.

Here are three bets I'd be pretty comfortable researching in greater detail and possibly pull the trigger on:

Bill Gross, of the famed PIMCO funds, has been a bond guy all his life, and he went bearish on bonds earlier this year. Hell froze over. You can see this either as capitulation or an ominous warning. I am very wary of municipal bonds. Our own country's debt crisis has reached all the way down to municipalities.

When it was revealed that the bond insurers did not have nearly the capital necessary to make payouts on defaulted collateralized debt obligations during the mortgage crisis, I lost all faith in bond insurers. To me, there is an equivalent risk and higher reward with preferred stocks. By purchasing a basket in an ETF such as iShares S&P Preferred Stock Index Fund (NYSE:PFF), you give yourself a 7% yield with minimal volatility. Get out if interest rates rise significantly, though.

Underfollowed and under-read fund manager Robert Rodriguez is a genius. He thinks we're headed for more recession next year, and Congress has been inept in its handling of fiscal policy. I agree. He hates bonds right now, except for very short-duration bonds, and so do I. Prices are near a double-top. I think bond prices will get hit next year, so I might short the iShares Barclays 20+ Treasury Bond Fund (NYSE:TLT).

Going hand-in-hand with our economic crisis has been the decline of the dollar. That trend will continue. That means you can short the dollar via PowerShares DB US Dollar Index Bearish (NYSE:UDN).

The real question at hand is this: Why the heck is the market doing so well in the face of really bad economic times? If you read my recent series on the Dow Jones Industrial Average, you know about several Dow stocks that would make for good long-term additions to a portfolio. That is the key to understanding investment in the market going forward - careful individual stock picking. Go with large-caps in general, and only go with small-caps that are directly benefiting from the situation. As for other systemic shocks that might or might not happen, have your trigger finger ready for these possibilities.

I expect some trigger event to knock the market down 20%. Perhaps it will come from Europe. Or, if Obamacare is upheld by the Supreme Court, expect the market to correct significantly. It will be a sign that overreaching regulation and legislation is acceptable to the High Court, and that's bad for business. However, if it is overturned, then go long Health Care SPDR (NYSE:XLV). Likewise, should Obama be re-elected, the market will react badly. So look at ProShares Short S&P 500 (NYSE:SH). If Obama is kicked out and the GOP takes over Congress, I expect a market surge, so you could go long the market with SPDR S&P 500 ETF (NYSE:SPY).

Stay far away from financials. There might be another big shock coming to the system. I am wary of Bank of America's (NYSE:BAC) stability, and certain sources tell me that the bad behavior of bond insurers, reinsurers and investment banks hasn't changed a bit. If you want to make an aggressive bet on this arena, double-short financials via ProShares UltraShort Financials (NYSE:SKF).

Finally, if you really want to bet against improvement in the global economic situation, believe Obama will be re-elected, that Europe will crater, that commodity prices will once again skyrocket, and that the dollar will crash, then you can short the market big-time via ProShares UltraPro Short S&P 500 Index Fund (NASDAQ:SPXU) and ProShares UltraPro Short Nasdaq 100 ETF (NASDAQ:SQQQ). These babies give you 3x leverage on your short bet.

Of course, all of these are highly speculative plays based on highly speculative crises of 2012. As always, do your own research and, for Heaven's sake, use stop-losses.

Lawrence Meyers does not hold a position in any securities mentioned but may have a position in several stocks the ETFs own. Check out InvestorPlace.com's other looks back at 2011 and ahead to 2012 here.

Hot Topics: BAC, Best of 2011 and 2012, Bill Gross, ETFs, Euro zone, Stocks to Short, XLV

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Source: http://www.dailyfinance.com/2011/12/12/how-to-profit-from-the-biggest-potential-crises-of-2012/

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US Debt: Money Managers' Least Favorite Investment

Filed under: Bank of America

NEW YORK (AP) - Ask the people who invest billions for a living to name their favorite picks for 2012 and you'll get a smorgasbord worthy of a holiday party: Brazilian stocks, U.S. junk bonds, and government debt from Colombia. Ask them what they dislike and they'll name one of the top-performing investments this year: U.S. government bonds.

Investors can rattle off a long list of reasons to avoid Treasurys. They pay next to nothing and are bound to plunge in value whenever interest rates begin climbing from their historically low levels. It seems nobody likes Treasurys, yet everybody keeps buying them anyway.

"Our least favorite asset is Treasurys," said Christine Hurtsellers, chief investment officer for fixed-income at ING Investment Management during a recent press briefing. "We still have a lot, but it's hard to make the argument for them."

It's a tricky problem for bond-fund managers at a time when everyday Americans are trusting them with more of their savings. Among investors, there's a solid belief that Treasury prices must fall and push interest rates up at some point. But those who have bet on a Treasury market collapse this year got burned.

Bill Gross, the bond-world version of investment sage Warren Buffett, dropped nearly all Treasury holdings from the fund he manages at Pimco in early 2011. He argued that if Republicans held up lifting the government's borrowing limit, the country would risk default. Borrowing rates would spike as the world's investors dropped U.S. government debt, just as they have in Europe.

Most of what Gross predicted came true. The debt-limit fight raised worries about default and led to Standard & Poor's taking away the country's AAA credit rating in early August. But instead of spiking, U.S. borrowing rates plunged as traders sold everything else to buy U.S. government debt. The race into Treasurys helped drive the entire bond market up 3.8 percent from July to September. Gross got the big picture right but his big bet against Treasurys didn't pan out. Pimco's Total Return Fund lost 1.2 percent, its worst quarterly performance in three years.

It's been a recurring story since the financial crisis hit in 2008. For three years running, pundits have predicted that investors will eventually refuse to finance the U.S. government's $15 trillion in debt and the Treasury market will collapse. But worries over the U.S. economy and the perilous state of Europe's financial system keep drawing banks and money managers from around the world back to the U.S. dollar and Treasurys.

That demand continues to push U.S. government bond prices up, the main reason why the Treasury market has returned 8.5 percent this year, despite microscopic yields, according to Bank of America (BAC)-Merrill Lynch data. The benchmark for stock market funds, the S&P 500 index, has returned less than 1 percent, including dividend payments, and that's with a 7.4 percent surge over the past week.

"It's been a pretty strong year for bonds," said Michael Gitlin, director of fixed income at T. Rowe Price, "and it's largely a result of Treasurys."

Judging by the gauges money managers usually check before making a move, buying Treasurys still looks like a bad idea. Consider this sample:

The benchmark 10-year Treasury pays just 2 percent a year. Take inflation into account and the payout on Treasurys equals negative 1.5 percent, what finance types call the real rate.
Treasury yields pay less than top-grade corporate bonds at 3.7 percent and even less than the stock market's 2 percent dividend yield.

"My colleagues say there's little value in 10-year (Treasurys) and I'd agree," Gitlin said. "People have been saying there's a fixed-income bubble. No, there's a Treasury bubble."

If there's so little to like about U.S. government bonds, why are the world's investors still buying Treasurys instead of dumping them? In a word, it's Europe.

As the crisis seemed to spread from country to country this year, the world's traders plowed more money into Treasurys. The higher the demand for U.S. debt, the lower the interest rate, or yield. So when it looked like Greece might default on its debts earlier this year, the yield on the 10-year Treasury note sank below 3 percent. And when attention turned to Italy and its government debts the yield sank even further, dipping below 2 percent in September. The shift of money out of Europe and into the U.S. has pushed Europe's borrowing rates to dangerous levels while causing U.S. interest rates to sink.

"You can hate the budget situation and hate the low yield, but if there's a panic it's the asset that outperforms," said Robert Robis, head of fixed-income strategy at ING Investment Management (ING).

A good reason to hold Treasurys, in other words, is that the Treasury market remains the world's favorite hiding spot. So, for many fund managers Treasurys aren't exactly an investment. Buying Treasurys is like taking out an insurance contract, Robis said. They're protection against global financial trouble.

The ING Global Bond fund, for instance, has 15 percent of its $641 million in Treasurys, less than the 20 percent in the benchmark Barclay's bond index. Robis said having none would be like betting European governments will come to a quick solution to the region's debt crisis and that the U.S. economy will soon recover its health.

"There's still a need to hold Treasurys," Robis said. "Just don't expect to make a fortune off them."

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Source: http://www.dailyfinance.com/2011/12/05/us-debt-money-managers-least-favorite-investment/

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79% of Fund Managers Didn't Beat the S&P

Yes, believe it or not, it's absolutely true. Last year, 79% of fund managers did not beat the S&P, the worst result in 15 years. These are the experts, the ones who wear flashy clothes and drive even flashier cars as proof that they know what they're doing. So if they don't have a chance, what kind of chance do you have at creating a solid financial foundation as you prepare for your retirement?

In order to beat their performance, you simply need to concentrate on financial products that provide a safe, steady growth. While this strategy might not make your portfolio explode in value, it can help provide a solid outcome without the stress of losing it all. To help you get started, we'll briefly discuss two such opportunities that will assist you with achieving your goals.

Opportunity #1: Annuities

If you want to achieve safe, steady growth for your retirement portfolio, it's hard to beat annuities. We've discussed annuities and their advantages in the past, but let's give a quick run-down for the uninitiated. Basically, an annuity allows you to place money into an account either all at once or in intervals of your choosing. Then, at a certain date determined by the agreement between you and the financial company, you will begin receiving checks each month (or all at once, if you prefer). It is even possible to set up an annuity so that you receive payments for the rest of your life.

Annuities are a great way to begin investing without a large amount of available funds. Depending on the financial institution you utilize, you may be able to open an annuity for only around $300, plus contributions of only $50. Some may be higher or lower, but regardless of the exact amount, you can typically contribute on your own terms. This flexibility is what many investors enjoy.

Opportunity #2: Indexing

If you were to bring up the subject with a seasoned stock market investor, they'd scoff at the idea. Why? Because indexing is, for lack of a better term, boring. There's really no excitement involved, and for those seasoned investors, they see it as a lesser option when compared to other products that offer a higher possibility of making money. However, with that possibility also comes a higher chance of losing a great deal of funds on a bad investment. To put it simply, indexing is for those who want to play it safe.

To begin, you'll want to obtain the assistance of a financial adviser who will give you a number of options, such as life insurance, certificates of deposit, fixed index annuities, etc. Once you have chosen a financial product or two, indexing will begin by attaching itself to the market index of those products. As that specific index increases, your own investment will increase as well. And if you choose more than one product to latch on to, your financial portfolio will be helped by diversification.

The great thing about indexing is a total lack of risk. While indexing allows you to make money by following a financial product's market index as it increases, you will not be affected by any decreases. While this might sound like a pipe dream, it's absolutely true. It's the way indexing is designed to perform. Just keep in mind that, as stated earlier, it can be a rather boring investment. But let those fund managers stick to the riskier products while you secure a solid retirement full of "boredom."

Source: http://firstsecurityfinancialshow.com/blog/bid/141653/79-of-Fund-Managers-Didn-t-Beat-the-S-P

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Try These Philadelphia Cream Cheese Recipes - Free eCookbook

If you enjoy eating I think you will love this new, free, eCookbook. It includes a huge variety of recipes for appetizers, side dishes, entrees and desserts.

So what is the common ingredient in these recipes? It is Philadelphia Cream Cheese. YUM!

Here’s a quick peek at a few of the many recipes that are in this book.

Salmon Cakes with Dill Sauce

Philly Island Shrimp made with Wonton Wrappers

Zucchini Potato Latkes

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Creamy Pesto Chicken

Creamy Lemon Squares

Basil Fried Green Tomato Crostini

Fiesta Cheese Fondue

Pizza Buns

Cheese and Onion Bread Pudding

Sweet Paprika Chicken with Creamy Sauce

Portobello Mushrooms Stuffed with Cream Cheese on an Arugula-Walnut Salad

Peanut Butter Pie

Deep-fried Mini Cheesecakes

Red Velvet Cheesecake Brownies

cheesecake brownies

Blueberry Crumble Pizza

Click here to download your free copy of this eCookbook.

Enjoy!

Source: http://tacklingourdebt.com/2012/05/31/try-these-philadelphia-cream-cheese-recipes-free-ecookbook/

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Judge Allows Payment Monopoly Lawsuit Against eBay/PayPal To Proceed

Source: http://consumerist.com/2012/06/judge-allows-payment-monopoly-lawsuit-against-ebay-to-proceed.html

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Half-Year Mark: Review Your Finances

By the end of June, the year will halfway done. How have things been going so far this year? June is a great time to look at your finances, assess your situation, and move forward making adjustments. Where Are You At? First of all, take a look at where you’re at. If you don’t regularly...
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Source: http://canadianfinanceblog.com/half-year-mark-review-your-finances/

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Facebook Boosts Size of IPO by 25% as More Insiders Cash Out

Filed under: Technology, Facebook, Market News

NEW YORK -- Insiders and early Facebook investors will be unloading more of their shares in the initial public offering, the company said Wednesday, as they take advantage of investor demand.

Facebook said in a regulatory filing that 84 million shares, worth up to $3.2 billion, will be added to the offering.

The entire increase comes from insiders and early investors, so the company won't benefit from the additional sales.

The biggest increases come from investment firms DST Global and Tiger Global. Goldman Sachs is doubling the number of shares it is selling. Facebook board members Peter Thiel and James Breyer are also selling more shares.

Founder Mark Zuckerberg isn't increasing the number of shares he's selling.

The news comes a day after Facebook raised the expected price range for the stock to a range of $34 to $38 per share, up from its previous range of $28 to $35. Also Tuesday, major advertiser General Motors Co. said it would stop advertising on Facebook.

At the high end of the price range, the IPO would raise $16 billion without the overallotment option reserved to meet extra demand. That would make it the third-largest U.S. IPO in history, ahead of General Motors in 2010, according to Renaissance Capital.

The IPO is the most hotly anticipated in years and would value Facebook overall at more than $100 billion.

In a filing with the Securities and Exchange Commission, Facebook said current shareholders are now offering approximately 241 million shares, up from about 157 million shares previously.

Even though Zuckerberg isn't increasing the number of shares he is selling, the additional sales will trim his voting control to 55.8 percent from 57.3 percent. That's because he has voting control over some shares now owned by investment firms, which will be sold in the offering.

Facebook has more than 900 million users who log in at least once a month, but it makes only a few dollars per year from each one, chiefly through advertising. Advertisers have been complaining that it's difficult to make good use of Facebook.

Sponsored Links

GM did not say why it would stop advertising on Facebook. The Wall Street Journal reported, citing people it did not identify, that it was because GM had concluded that the ads were ineffective.

GM spokesman Greg Martin said the company will keep paid content on pages that promote its products. Meanwhile, GM competitor Ford reaffirmed its commitment to Facebook, saying its relationship was stronger than ever.

Morgan Stanley leads the team of 33 underwriters selected for the Facebook offering, followed by JPMorgan Chase and Goldman Sachs.

The offering is expected to get a final price Thursday evening. Shares would start trading on the Nasdaq on Friday under the "FB" ticker symbol.

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Source: http://www.dailyfinance.com/2012/05/16/facebook-boosts-size-of-ipo-by-25-as-more-insiders-cash-out/

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What if higher ed was like Shark Tank…

I’ve had a terrible cold this week. So I took the day afternoon off on Friday originally intending to enjoy the long weekend but spending it in bed instead with my Blackberry Playbook (have to support the RIMM stock), Shark Tank, Dragon’s Den and Risky Business… and a roll of Cottonelle toilet paper (way nicer [...]

Source: http://singlemomrichmom.com/what-if-higher-ed-was-like-shark-tank/

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A wee bit of snow (both kinds)

While I would love for the two kinds of snow to be money snowflakes and dandruff, sadly, I am dandruff free.

After a week of near zero gloominess most of the time and wind wind wind, the forecast is for snow tonight and tomorrow. Thank you so much to my Alberta neighbours for sending this gift towards me (activiate loving sarcasm device here) :-)

I also bundled up the bottles and cans today and did a quick run over to SARCAN (Saskatchewan's recycling depot). There weren't many, but enough. It netted me $10.95. The change went into my change jar and the lovely purple bill went into my snowflake jar. It currently holds $30 so I now have $40. Every little bit counts. When I hit $100 I will take it to the bank and whap it down on my loan.

Yeah non precipitational snowflakes!!!

Source: http://shakingthemoneytree.blogspot.com/2012/04/wee-bit-of-snow-both-kinds.html

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Friday Links

The Million Dollar Journey shared another easy way to save money this week with their post, Cut the Home Phone Line: Talk on the Phone for Less. Rob Carrick offered his stock investing advice and told Canadians to Watch Your Portfolio Weighting by buying American. This week the Canadian Capitalist offered their Sector Breakdown of...
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Source: http://canadianfinanceblog.com/friday-links-169/

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Monday, June 4, 2012

Sunday, June 3, 2012

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Saturday, June 2, 2012

Friday, June 1, 2012

Here’s a quick peek at a few of the many recipes that are in this book.

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