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Posts tagged Stock Market

I Vote for Warren Buffett

Jul07
2011
Leave a Comment Written by jacob

On my hefty 75 minute commute to work each morning, I usually stimulate my brain by listening to the Opie & Anthony show on XM radio. Today, however, I found myself listening to CNBC’s interview with Warren Buffett.

Becky Quick, along with the rest of the Squawk Box team, threw question after question at Buffett. Though I claim to know a little about the stock market, simply listening to this man speak, you can tell how much of a genius he is when it comes to the economics and Wall Street.

At one point, Buffett brings up how he’d change the tax rate for the rich. His long standing belief is that the rich are under-taxed. In fact, he goes onto say,

…if you take the 400 richest Americans and the 400 people who paid the greatest income tax— the Treasury’s been putting those figures out for 15 years or so. If you go back 15 years, the average income of the 400 top people— the 400 top people’s around 45 million. They paid about 27 percent. Now it grew, the most recent figures, to 350 million. That is incredible. And that’s nothing like’s happened to the rest of the world. The tax then was 16.6. So while they’ve gotten ungodly richer, the rate has come down 11 points. Now, that is a big tilt in the world. And I would go after the very rich.

I think he is exactly right. By keeping the tax rate so low for the rich, America is truly beginning to divide itself into the haves and have nots.

The quote above is around the 3:30 mark.

It is clear that Warren Buffett is the type of man that we need in an office of power that will get us on the right path. He is for closing corporate tax loopholes and fixing our medical system (which has ballooned to 17% percent of GDP… while other civilized nations it’s around 10%). His analogy of the Euro crisis was brilliant, saying

…They linked 17 countries together. It’s like 17 people holding hands, and they start walking toward a cliff and some guy on the end is going to go over the cliff and he said it won’t make any difference because this guy’s going to keep holding my hand. And then you got two of them over the cliff. And the real question is whether the guy in the center, the big heavyweight, decides, you know, that— whether he wants to keep holding hands with this group.

The chances of Warren Buffett entering the political arena is 0%. That may not be bad though, as he may have more power in his current position.

If you’d like to view the read the transcript of the full interview, click here.

 

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Posted in Daily Life, Economy - Tagged Economy, Warren Buffet
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Taking A Trip To Wall Street

Nov19
2008
1 Comment Written by jacob

My brother Caleb and I have decided to take our chances in the stock market. Caleb wants to make some quick money, while I want to do some more long term investments. Caleb wants to buy General Motors (GM). Unfortunately for him, I won’t let him do that. He should have read my post about GM. I want to test my stock skills with Fannie Mae and Freddie Mac.

Yea, I can hear you know. Didn’t they collapse like four months ago? The answer to that is yes. But hear me out.

Fannie Mae and Freddie Mac (FNM and FRE, respectively) are at their all-time lows. FNM is selling at $0.40 a share, while FRE is at $0.56 a share. That is down from their 68 week highs of over $60 a share! My plan is to invest a small amount – $500 – on Fannie and Freddie. These are companies that cannot, and will not, completely collapse. Once they return to their old dominance (in 2-5 years), Caleb and I will be sitting on an over $50,000 return. If we decided to continue to put money into them, the sky is the limit.

Maybe the best part about the whole thing is while CNBC has their Maria Bartiromo analyzing stocks, I have my Mari Bartolomeo.

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Tagged Caleb Wycoff
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A New Roller Coaster

Nov08
2008
Leave a Comment Written by jacob

Cedar Point in Ohio is no longer the place with the biggest roller coasters. Superman doesn’t own the record for the biggest vertical drop. This roller coaster isn’t for those with health problems, women who are pregnant, or kids under 12.

This ride has so many ups and downs it will leave you dizzy and sick to your stomach. The costs of this ride varies from person to person. It depends on how much you’re willing to spend.

Where can you find this fun interesting roller coaster.

Wall Street!!

Over the past three months, the Dow Jones Industrial Average has lost over 33% of its value.

I am part of a stock market competition, put on by Updown.com. You start with a million dollars (play money in case you didn’t get that), and try to return the biggest percentage by the contest’s end. I was doing awesome at the beginning of school, with almost a 100% return in less than a month. After school really started getting busy, I let my portfolio slip a bit.

My portfolio is the blue line. The S&P 500 line is the green line, included for reference.

My portfolio is the blue line. The S&P 500 line is the green line, included for reference.

I am glad I didn’t have any real money in the stock market the past few months. I feel I would be in the same boat as millions of other Americans who lost so much. Now though, I am itching to try to make a few bucks. I tried to open an account at ScottTrade and eTrade, but you need a minimum of $500 down. I was hoping to through a $100 in and see what happens.If I do decide to hop on this roller coaster, I’m hoping my wallet doesn’t fall out on the loop-d-loop.

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