Archive for August, 2012:

on a fiduciary soapbox

Written on August 24th, 2012 by Jamesno shouts

This is exactly why I became a fee-only advisor, no conflicts of interest.  This story is just irritating and is why the public has very little faith in wall street.  There should be a separation of investment banking from any type of retail client money.  I just wonder how many of their individual clients also got stuck with holding the stock in their individual accounts?

http://online.wsj.com/article/SB10000872396390444082904577607731934429936.html?mod=mktw

 

Filed under General, Investing Tags:

spend $300 to save $100

Written on August 15th, 2012 by Jamesno shouts

So how do you spend $300 when trying to save $100.  Just like this:

Wife drops iphone and cracks the screen glass.  The charge to get an “authorized” repair place to fix it is $100.  Being a frugal and fairly decent “fixit” guy, I opt instead to order the $7 DIY Glass replacement kit from Amazon.

After a couple hours I get the glass replaced and power up the phone, only to find out the touch screen will not work!  I have somehow messed up a connection or something.  I spend another hour taking the phone back apart and reassembling with no success.

The “authorized” repair center says they cannot work on the phone now that I have put a 3rd party part in it (new screen glass).  (basically it was “sir you are a dummy and should not have messed with the phone”)

So now without a working phone for the wife, I have just made a visit to the AT&T store to purchase a new iPhone for $300.  Man that stings……

Filed under Credit & Spending, Miser Tip Tags:

is there any value to free?

Written on August 9th, 2012 by Jamesno shouts

I’ve often been told that people don’t value things given to them for “free”.  Is it true?  Do you value things more that you have to work for, or have to pay for?  Is it the psychology that goes with having some skin in the game?

In what has turned out to be an experiment on this very issue, I listed something on Craigslist in their “Free Stuff” ads.  I immediately had 7 emails from people wanting it.  So naturally I emailed the first responder and said it’s yours, come get it.  The reply was “can you send me a picture of it?”  I thought this is crazy, I am giving it away for free.  Why would I waste my time doing this?  But nonetheless I snapped a photo and sent it over.  The responder said great they would be by to pick up the next day.  I even offered some additional items out of kindness.

Well, next day they did not show.  Got a text that they would be there following day.  Did not show again!

So now I am left wondering how much work is it going to be to give away something for free?

I did email back the other 6 responders and said that the first one who would call me and could pick up today could have it.  Well, despite lots of interest initially, not a call yet.  Crazy.

This goes to prove that people talk about how they want something if it is offered for free, but rarely will go out of their way to follow through on it and they definitely don’t value it.  Next step is to offer it for sale for $5 and see how fast it goes!

Filed under General Tags:

investing commentary

Written on August 1st, 2012 by Jamesno shouts

Bill Gross with PIMCO is out with his monthly commentary.  It is an interesting read, if you are in a hurry read the first paragraph and the last one to get a synopsis.  http://www.pimco.com/EN/insights/pages/cult-figures.aspx

Filed under Investing Tags: