Thursday, March 28, 2013
03/28/13 Taxi
My senior year in high school a (pretty blonde) girl in my English class selected 'Taxi' as the springboard for class discussion. Nine years later Chapin died far too young following a collision on the L.I.E. (Long Island Expressway).
I had my own taxi experience driving for Yellow in Ann Arbor in the late seventies. One afternoon I braked near Martha Cook (residence hall) to allow a young lady time to finish crossing 'South U.' She glanced over and it took us both a moment to register. I had dropped out for the third time a year earlier, while she was about to leave for the U of Chicago, where she would eventually earn her PhD in Sociology. She now teaches overseas. It's funny how life often imitates art.
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Would you like to go uptown or downtown?
ReplyDeletehttp://goldstocksforex.com/2013/03/28/sp-500-any-gas-left-in-the-tank/
I see nothing wrong with doing nothing here. For some reason, I haven't felt 'left behind' by this year's rally.
Delete'On Thursday, July 16, 1981, just after noon, Chapin was driving in the left lane on the Long Island Expressway at about 65 mph on the way to perform at a free concert scheduled for later that evening at Eisenhower Park in East Meadow, New York. Near exit 40 in Jericho he put on his emergency flashers, presumably because of either a mechanical or medical problem (possibly a heart attack). He then slowed to about 15 miles (24 km) per hour and veered into the center lane, nearly colliding with another car. He swerved left, then to the right again, ending up directly in the path of a tractor-trailer truck. The truck could not brake in time and rammed the rear of Chapin's blue 1975 Volkswagen Rabbit, rupturing the fuel tank as it climbed up over the back of the car, thus causing it to burst into flames.
ReplyDelete'The driver of the truck and a passerby were able to get Chapin out of the burning car through a window after cutting the seat belts before the car was engulfed in flames. Chapin was taken by police helicopter to a hospital, where ten doctors tried for 30 minutes to revive him. A spokesman for the Nassau County Medical Center said Chapin had suffered a heart attack and "died of cardiac arrest", but there was no way of knowing whether it occurred before or after the accident. In an interview years after his death, Chapin's daughter said "My dad didn't really sleep, and he ate badly and had a totally insane schedule."
'Even though Chapin was driving without a license, his driver's license having previously been revoked for a long string of traffic violations, his widow Sandy won a $12 million decision in a negligence lawsuit against Supermarkets General, the owners of the truck.'
I used to watch that show, too!
ReplyDeleteHoliday hun? What a rip off.
ReplyDeleteHDSN - Speaking of the devil, wow......
ReplyDeleter-22 spot price crashed apparently, on the EPA ruling. Hope you didn't buy your clean r-22 recently.... I guess you won't be getting such a premium for your dirty r-22 either.
DeleteAt least no insiders are selling! Yikes.
DeleteYeah, not sure about what insiders are doing, haven't looked at that. Obviously they get the delta, and so prices of dirty gas should fall.
DeleteIf I were an HVAC contractor who just got burned by the EPA on stocking expensive r-22, I'd be even more inclined to stop servicing/repairing the old stuff ASAP.
Around here, many HVAC contractors won't service an old r-22 residential system aside from simple stuff and when it comes to repairing the sealed system, they resist by telling the customer they need to replace the system.
DeleteWith 11% corporate loans, why not just go to the top of the food chain and buy banks?
ReplyDeleteIEP - Volume is increasing rapidly, as the old coot continues making his moves....
ReplyDeleteHDSN: you know when Buscemi is selling it's time to get out of dodge:
ReplyDeletehttp://biz.yahoo.com/t/87/6052.html
http://www.imdb.com/media/rm1522908160/tt0979432
Damn, bro. Are you saying James is related to Steve?
DeleteOne of the few shows I watch on TV.
DeleteIt pays to watch what insiders are doing, doesn't it?
DeleteJust checking in with the following deal at Costco: Kirkland Premium Golden (Ready to Drink, ie Lazy Ass) Margarita 750 mL bottles 20% off @ 7.99 this week.
ReplyDeleteNever had that before but sounds like one could get shif aced and an entire night quite inexpensively.
DeleteI am beginning to wonder if miners are about to castrate remaining holders. No, I don't use that term lightly. The fact that miners have gone straight to hell while gold prices have held up tells me something's up. Manipulation? Is it that easy? We're talking about a -50% drop! If insiders can manage that kind of price action, then I'd rather play craps.
ReplyDeleteThe sister site did better before it started managing OPM. Something happens when we start to manage money. I'm not sure what it is, but it's not good. The market goes out of its way to teach fund managers who's in charge. I'm guessing the sista manages 8 figures. Paulson manages 10-11 figures, and he's down 30-40% on metals/miners. The market will not let up on the beating until these guys give up. I really believe that.
DeleteThe market will kick your --- into submission. We all know that. Now I can handle having my own account taken down to teach me a lesson. But OPM? That's a surefire way to find out what you're made of. Personally, I don't think I could take it.
DeleteI'd be shocked if he manages over $100 mil, but I'm pretty sure assets under mgt have to be disclosed on ADV part 2.
DeleteI looked at this when he first started, but was not impressed having been an RIA myself for years. Plus he charged 3% (that's what I charged back in the day but only had $12 mil, very lucrative). I have come to believe that 3% is way too much, 1.5 max. And same as 2 and 20 crazy.
If I had beena client, I would have fired him when he said he was no longer gong to trade the metals portion, but hold for 3 to 5 years.
But that's just me. Any body like Arizona?
I like Arizona mostly b/c it's dry. Flagstaff, for some reason. I really like dry, but there are things to do there ya' know. I've never tried boating on the big lake and still want to but have put lots of time in on the river just below the dam. Great for dirtbike riding as well, if you like that stuff. Great way to keep in shape actually, and you can push yourself as hard or soft as necessary.
DeleteCC - There may have been $100m under management at one time, but not anymore? Talk about a lack of transparency, outright misleading was my impression.
"The sister site did better before it started managing OPM." Yep, good point.
I've been asked by several people to manage their money for a fee. Being self employed the idea is alluring. However, tailoring your strategy to fit other people's risk tolerance and perceptions of proper holding periods is a sure fire way to a beat down.
DeleteGood point TOF, I feel my #1 weakness is assessing what something's really worth. I don't mind holding for long periods of time if I think price will return to reality within a reasonable period of time, position size for me is in large part a function of time horizon.
DeleteCrazy Market Quiz
ReplyDelete"On a one month basis...
1) Comex gold is positively correlated with the S&P VIX T or F
2) Comex gold is positively correlated with Nymex WTI & Brent crude T or F
3) At least gold has a friend in silver, both are still highly correlated T or F
For the last 3 months...
4) Oil prices have been more volatile than gold T or F
Answers:
1) False, gold has zero correlation with the so-called "fear index" (rolling correlation -= -0.06)
2) False, gold is positively correlated with WTI and negatively correlated with Brent (+0.64 & -0.37 with WTI-Brent spread collapsing)
3) False, gold is gaining value on the white metal and the correlation is a paltry +0.25
4) False, WTI has been 0.9X less volatile than gold on a relative basis over the last three months "
http://www.joc.com/trucking-logistics/ltl-shipping/yrc/teamsters-schedule-april-meeting-yrc-freight_20130329.html
ReplyDelete"Transportation consultant Satish Jindel of SJ Consulting Group estimates the plan could save YRC Freight $25 to $30 million as it struggles to restore and maintain profitability."
I wasn't really factoring this into the equation so if it happens it would be nice upside surprise. They vote in late April.
Yeah, and I missed the drop under $6 during the week my internet connection was knocked out by the weather. Wouldn't ya know.....
DeleteCopper - Not far from 52wk lows....
ReplyDeleteCCL/KOL - Heading north?
ReplyDeleteWomen speak about 7,000 words a day - Men average just over 2,000.
ReplyDeleteThe ratio is greater in my home.
DeleteOT still likes miners/shippers.
ReplyDeletedeep down inside something tells me that the miners might not be a horrible pick. i just know nothing of the space from a fundamental perspective. love the shippers.
DeleteDamn! What a ringing endorsement!
Deleteafternoon fellas
ReplyDeleteHave not watched the market or kept up on the blog reading for a few days. We were burglarized this week so that has been a bit of a distraction. Please repost all of your top money making ideas posted over the last week. Day ahead notice of entries and exits would be greatly appreciated. Yeah, that should do it.
No I didn't have an alarm. Yes, I'll have one very very soon.
DeleteDude- I have an alarm but never set it.
DeleteNever had one in my life of 72 years. Son had one in St. Louis in a restored old house he bought. Freaked me out when I set it off once. That was 10 years ago. Never again.
Deletewow that's scary port.
DeleteSorry to hear about the break-in, but glad it's an alarm you're buying, and not a shotgun.
Deletespeaking of burglaries...mark - what do you know about oakland? are there any cool parts? a friend of mine just moved there to what apparently is a hip part of town from san fran. he was trying to get us to come visit and i thought he was nuts.
ReplyDeleteThere are a few reasonably safe areas, although even I now avoid Oakland after sunset altogether (you might recall my fascination with 'Drive By' in the past, which led to nighttime forays into neighborhoods best experienced in literary form): Piedmont, Rockridge, Grand Lake.
DeleteThat reminds me. A homicide took place in my brother's (normally safe and quiet) neighborhood in Encinitas yesterday, one which at one point was the top trending story on Yahoo. The incident was apparently related to a dispute between neighbors.
DeleteTOF- I agree. Your friend is nuts. But even SF can get dicey.
DeleteI have a business idea that I'd like to run by one of the social media companies. Yahoo would stand to benefit the most. I went as far as composing an 'InMail' to Marissa Mayer, but of course her LinkedIn profile is protected against standard traffic. What's the best way to reach someone in Biz Dev- do any of you know?
ReplyDeletenew post
ReplyDelete