Quote of the Day

From the Chart of the Day folks…

Quote of the Day

“If you buy the same securities as other people, you will have the same results as other people.” – Sir John Templeton

You can find todays chart of the day here.

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If it can happen in Norway….

maybe it can happen in Boulder!

Irritation grows over taxes

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Luck can play a big part….

He has obviously never forgotten this incident; better yet, he took from it a couple of very good lessons: “I came out of Vietnam with two things: a grasp of how the collective good keeps people alive, and the fact that luck can play a big part in everything you do.”

Read more at Freakonomics.

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Buffett raising money for Hillary….

but he hasn’t endorsed her yet.

Even though Mr Buffett will be the main attraction tonight, he has not endorsed Mrs Clinton, saying both she and Barack Obama, the Democratic senator from Illinois, would make excellent presidents.

Unfortunately for Warren, and fortunately for me, he can only donate a small amount. Actually I don’t agree with contribution limits, or at least the ones we have now, but I do believe in full and immediate disclosure. Having to choose between Hillary and Barack, I believe I’d choose Hillary.

Read more about the fundraising event here.

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Squandered Political Capital

The Influence Peddler comments on the effect the Immigration bill is having on Bush and his quickly diminishing political capital. I couldn’t agree more. Hat Tip again to Instapundit.

But it’s starting to look as if the immigration fight has become the straw that broke the camel’s back. Conservatives oppose the White House on the substance and deeply resent the charges of nativism and ignorance coming from Bush’s team. Now Mitt Romney has apparently decided that it’s time to begin the process of disowning the President:

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International Space Station

Blatently stolen from Instapundit.
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I lied….

Ack, in my letter to Trent Lott I said I’d never written a politician before. NOT TRUE! I wrote Dennis Hastert an e-mail after the FBi searched William Jeffers office.

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Rod Beck passes away

Former all-star relief pitcher Rod Beck passed away yesterday at the age of 38. I’m a mediocre baseball fan but I do remember this quite vividly having seen some TV coverage of it….

While working his way back to the majors in 2003, Beck pitched for the Triple-A Iowa Cubs and lived in his Winnebago parked just beyond the outfield fence. Fans would drop by for autographs and stay for a beer, and Beck became a folk hero. Then the Padres called.

Read more about Rod and his career here.

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NFK

Glenn Reynolds has a way with words….

“Of course, if they’d done this kind of thing a year ago, they might still be in the majority.”

http://instapundit.com/archives2/006564.php

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My e-mail to Trent Lott

Mr. Lott,

I can only hope that the Republican’s are successful in defeating the immigration bill. The issue is, “we the people” don’t trust our elected representatives.

The United States is going to secure the border? Don’t believe it. You could more easily convince me the sun won’t rise tomorrow.

Other reasons for not trusting our elected officials:

1. In my opinion the FBI had the right to search William Jeffers office. The circling of the wagons by politicians on both sides was nothing short of revolting.

2. The Republican’s efforts to stop pork spending was an embarrassment and absolutely pathetic.

The Republican party needs a complete and total overhaul. That means bye-bye to elected officials such as yourself, Dennis Hastert, Ted Stevens and I’m sure many more. By this time, I doubt that you believe I have voted Republican for many many years but I have. I am NOT a member of the religious right, in fact I find them in general, mildly disturbing.

Understand this: If there is a 3rd party alternative for any Republican candidate that supported the immigration bill, he’ll receive my vote. Otherwise I will not vote in that particular contest.

Also understand, at the age of 52, this is the 1st letter I have ever written to a politician. Can you and your “old school” friends figure out what that means? Go ahead, take a “shot of courage” and make my day.

regards,

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Global Warming Scam….

I started at Amy Ridenour’s blog, which lead me to Melanie Phillip’s Diary. At Melanie’s blog I found a nice summary and interpretation of recent articles stating Global Warming is far from settled. Most of the articles I have seen elsewhere, and probably even referenced in this blog, however this is a nice summary with links for additional reading.

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Who would respond to this?

I received the e-mail today. It snuck through the Comcast spam filter. My only question is who would actually believe this BS???

FROM :FORIEGN REMMITTACE DEPARTMENT
Before I introduce myself, I wish
to inform you that this letter is not a hoax mail and I urge you to
treat it serious. We want to transfer to an overseas account
$17,000.000.00,(seventeen million Dollars ) from a prime Bank here in
Hungary.
I want to ask you, if you are not capable, to quietly look
for a reliable and honest person who will be capable and fit to provide
either an existing bank account or to set up a new Bank a/c immediately
to receive this money, even an empty a/c can serve to receive this
money, as long as you will remain honest to me till the end of this
important business i am trusting in you and believing in God that you
will never let me down either now or in future.
I am Mr.Moore John,
presently promoted to Auditor General in one of the banks here in
Hungary,during our last auditorial meeting we found out that there is
an account that is lying dormant for so many years and we have
investigated on it and found out that the owner of the account by the
name of Mr Thomas Stone From Columbus, Ohio,who died with his family on
a plane crash and since then we couldn’t find any of the relations,he
died without living any will that is why we contacted you for
assistance and at the conclusion of this business, you will be given
30% of the total amount, 70% will be for us. PLEASE, TREAT THIS
PROPOSAL AS TOP SECRET.
Please do get back to me if you are interested
so that i will give you the other information that you need to know.
Regards,
Mr.Moore.

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Sicko…

Take down of Michael Moore, here and the original article here. The sad part is it’s so damn easy.

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The Elephant has a Fly on it’s Head

Human induced global warming is a bunch of “hooey” according to Reid Bryson, Professor Emeritus at the University of Wisconsin-Madison. Some interesting quotes from an article in the The Capital Times:

There is no question the earth has been warming. It is coming out of the “Little Ice Age,” he said in an interview this week.

“However, there is no credible evidence that it is due to mankind and carbon dioxide. We’ve been coming out of a Little Ice Age for 300 years. We have not been making very much carbon dioxide for 300 years. It’s been warming up for a long time,” Bryson said.

Commenting on the effect of carbon dioxide….

It’s like there is an elephant charging in and you worry about the fact that there is a fly sitting on its head. It’s just a total misplacement of emphasis,” he said. “It really isn’t science because there’s no really good scientific evidence.”

and now let’s “follow the money”…

So, if global warming isn’t such a burning issue, why are thousands of scientists so concerned about it?

“Why are so many thousands not concerned about it?” Bryson shot back.

“There is a lot of money to be made in this,” he added. “If you want to be an eminent scientist you have to have a lot of grad students and a lot of grants. You can’t get grants unless you say, ‘Oh global warming, yes, yes, carbon dioxide.'”

And certainly in Boulder this is the case….

Speaking out against global warming is like being a heretic, Bryson noted.

…and sometimes the “scientists word” is an unqualified or inexperienced opinion notes Bryson:

Up against his students’ students: Reporters will often call the meteorology building seeking the opinion of a scientist and some beginning graduate student will pick up the phone and say he or she is a meteorologist, Bryson said. “And that goes in the paper as ‘scientists say.'”

The word of this young graduate student then trumps the views of someone like Bryson, who has been working in the field for more than 50 years, he said. “It is sort of a smear.”

and the Church of Algore…

“There is very little truth to what is being said and an awful lot of religion. It’s almost a religion. Where you have to believe in anthropogenic (or man-made) global warming or else you are nuts.”

The remainder of the article is interviews with other Professors critical of Bryson. One can only hope the authors would be equally “fair and balanced” if the article started with the opposite premise.

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BBC Biased???

Say it ain’t so.

A year long investigation commisioned by the BBC concluded that the BBC is (was?) biased. Here’s a snippit of what the report had to say:

The BBC has failed to promote proper debate on major political issues because of the inherent liberal culture of its staff, a report commissioned by the corporation has concluded. The report claims that coverage of single-issue political causes, such as climate change and poverty, can be biased – and is particularly critical of Live 8 coverage, which it says amounted to endorsement.

and also…

The report concludes BBC staff must be more willing to challenge their own beliefs.

It reads: “There is a tendency to ‘group think’ with too many staff inhabiting a shared space and comfort zone.”

Read more here. After reading this article, it would seem that the basic culture would have to change. I consider that extraordinarily unlikely.

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Mayor Hickenlooper and the Nanny State

John Sharf at View from a Height has some suggestions for Mayor Hickenlooper before he tries to implement his green agenda.

Hat-tip to Glenn Reynolds at Instapundit.

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Timeline of Warren Buffett

Above is a chart of Berkshire Hathaway class A stock from 1990 to the present time. This is all after the timeline documented in the article below. (click to enlarge).

In this 3 part series, Joshua Kennon chronicles Warren Buffet’s investing career from the 1950’s through 1989. Here are some highlights…

1956: The Buffett family returns home to Omaha. On May 1, Warren created Buffett Associates, Ltd. Seven family members and friends put in a total of $105,000. Buffett himself invested only $100. He was now running his own partnership, and would never again work for anyone else. Over the course of the year, he opened two additional partnership, eventually bringing the number under his management to three. Years later, they would all be consolidated into one.

1969: Following his most successful year, Buffett closes the partnership and liquidates its assets to his partners. Among the assets paid out are shares of Berkshire Hathaway. Warren’s personal stake now stands at $25 million. He is
only 39 years old.

1974: Due to falling stock prices, the value of Berkshire’s stock portfolio began to fall. Warren’s personal wealth was cut by over 50%.

1979: Berkshire trades at $290 per share. Warren’s personal fortune is approximately $140 million, but he was living solely on a salary of $50,000 per year.

1986: Berkshire breaks $3,000 per share.

1987: In the immediate crash and aftermath of October, Berkshire loses 25% of its value, dropping from $4,230 per share to around $3,170. The day of the crash, Buffett loses $342 million personally.

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Comparing Buffett and Lampert

Jim Altucher compares the investment ideas of Warren Buffett (Berhkshire Hathaway) and Eddie Lampert (Sears Holdings). He concludes…

My prediction is that the next big investment move we see will come from Mr Lampert. He will end up doing what Mr Buffett did: getting into insurance. I would not be surprised to see him start his own insurance company or buy one of the more interesting players out there such as Endurance Specialty Insurance or Markel.

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10 year bond up 1/4% in 5 days….

This is a big move for such a short period of time. In the last 5 trading days: rates are up 5%, the SPY Tracker is down 2% and gold is down 31/2 %.

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Are bees disappearing?

Here’s the straight scoop. Conclusion…

The bottom line? No one is certain what’s going on, but a lot of the theories can’t – by themselves – explain everything we’re seeing. More important, the situation hasn’t yet risen to the level of a catastrophe (except, sadly, for some of the affected beekeepers). If the same thing keeps happening every winter for another decade or so, then we might really start worrying. But for now, classifying this as a “problem with potentially severe economic impact should it persist” would be a more realistic assessment.

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