Reading B.I.F.

noreply@blogger.com (BIF) — Tue, 3 Feb 2009 18:24:00 -0500

Imagine being the tech guy at this place.
Trader: "Dude, why isn't my chart working"
Tech guy: #$@%

Superbowl Stat

noreply@blogger.com (BIF) — Sun, 1 Feb 2009 18:30:00 -0500

Here's an interesting stat: the NFC has now won the coin toss for 12 straight years in the Superbowl. It doesn't necessarily mean anything to who wins the overall game though.

6 Helpful Tips on Preventing Spyware on Your Computer

noreply@blogger.com (BIF) — Sun, 1 Feb 2009 16:44:00 -0500

These are some good simple tips on how to prevent spywre on your computer. Have you heard of Kim Komando? She is a world renowned talk show radio host on computer and technology advice. This is also another helpful, spyware software that I personal purchased.

I'm Back

noreply@blogger.com (BIF) — Sun, 25 Jan 2009 11:15:00 -0500

It has been a long time since my last post. With the evolution of social media websites since I started blogging in 2005, or revolution as it turns out with the popularity and appeal with current users, the power to connect to the world is more important than ever if you want to participate and prosper from the global end users.

These social media networks include, Youtube, Facebook, MySpace and now a new up and coming social website, Tweeter. I have just started using Tweeter and I can see the power this social network site can have for the end user.

I will continue posting information as it relates to business, investments and fun/interesting stuff from the web without trying hard not to regurgitate other people's post, because that would be stale. Also, I am going to be experimenting with adding new technologies and software that are in the forefront of today's technology in order to illustrate the advantages of using these products or services. For example, adding video content to posts - something I am still learning how to do but I think it will add more dynamic content to this blog.

I'll see you in my next post. Keep checking back and also, be sure to rss my blog for up to date content.

Good Stuff

noreply@blogger.com (BIF) — Sun, 25 Mar 2007 11:03:00 -0400

Too Much CNBC? - Top 10

noreply@blogger.com (BIF) — Mon, 1 May 2006 20:20:00 -0400

Do you watch CNBC a lot?

Follow this link or read below to find out the number one reason you may be a CNBC fanatic.

Top 10 Reasons You Know You Watch Too Much CNBC

10) You notice when Joe Kernen gets a haircut even before it is repeatedly mentioned on air.

9) Your Squawk Box Fantasy Portfolio has only increased because of correctly answering all the daily Bonus Bucks questions.

8) You recognize the new CNBC sound effects when you play your favorite video games.

7) You try calling into the “Mad Money” lightning round at the previously recorded midnight showing.

6) You have memorized the scripts of repeated “news” by the time it appears for the fifth time on the “Closing Bell.”

5) You have actually watched “Conversations with Michael Eisner.”

4) Your mind frequently wanders to the analysis of who is “hotter “? - Erin, Maria, Becky, et al.

3) You disclose your stock position conflicts of interests when giving a cocktail party stock tip.

2) You say “Booyahhhh!” when you call your mother.

And the Number 1 reason you know you watch too much CNBC….

1) Your TV has a burn-in shadow of the stock ticker

Hidden Bias in Morningstar Data

noreply@blogger.com (BIF) — Thu, 30 Mar 2006 22:37:00 -0500

I came across this article today and it was quite the interesting read. Apparently, this company has come to analysis that Morningstar has overstated the actual returns of the majority of the investment categories that it follows by excluding weaker funds which therefore, will inflate fund returns.

You can read the entire article here:

http://www.zeroalphagroup.com/news/Survivor_Bias_and_Improper_Measurement.pdf

The study period looked at Morningstar Principia Mutual Fund data for the 10-year period from January 1, 1995 to December 31, 2004. ...purging of the weakest funds from the Morningstar database boosted apparent returns on average by 1.6 percent per year from 1995-2004.

Jamie Dimon's Speaks to MBA students - Video

noreply@blogger.com (BIF) — Thu, 30 Mar 2006 22:35:00 -0500

I enjoyed watching this video of Jamie Dimon's luncheon with the Kellogg's MBA students. At the time, he was CEO of Bank One, which later was acquired by JP Morgan and opened the door for him to be CEO of JP Morgan. What I took from this video is the importance of creating relationships with people and learning how to read and understand people that can help you and get rid of people that are cancer to your company.

Bonuses Up for Derivative Traders

noreply@blogger.com (BIF) — Sat, 26 Nov 2005 18:40:00 -0500

I'm not sure where this article is from, but a friend of mine emailed me this article:

Veterans In Demand
Bonuses For Equity Derivatives Traders Up Over 10%
--Veronica Belitski
November 23, 2005

Bonuses for equity derivatives traders will be up more than 10% this year, bolstered by an explosion in options and futures trading volume, according to trading executives and recruiters. The surge will push total compensation for derivatives traders well into the seven figure range and well above what most equities traders make. Last year derivative traders' comp was flat. These bonuses could translate into even bigger numbers next year, as investment banks and trading houses are offering guarantees to the best traders to take advantage of the hot market, recruiters and trading executives said.

"There are a lot of mandates for experienced [derivatives] traders, so firms have to become more aggressive with guaranteed bonuses to get the best," said Steven Fleming, managing partner at Wall Street Options, a recruiting firm. Recruitment in derivatives had been mediocre over the past three years until the market picked up in 2004, he added. Les Carter, recruiter with Carter, Stone & Co., expects to see bonuses for the best derivatives traders to increase by much more than 10% in the coming year. "There aren't that many people who are qualified to work on a derivatives desk; it's a much more intellectually driven business than equities," he said.

Equities derivatives desks are also much smaller than equities desks--they typically employ less than a dozen options and futures traders, while traditional cash desks often employ anywhere from 20 to 50 people. As commissions for equities continue to come down, there is much more room for growth on the options desks, said Richard Lipstein, recruiter with Boyden. "The derivatives and structured products businesses remain strong; there are cost pressures everywhere but here," he said. Several derivatives trading execs said they are increasing hiring by about 15-20% next year.

Average commissions per options contract are coming down just as for equities, but increasing volume in options and futures trading is compensating for the loss, according to a recent study by Greenwich Associates. Average commission per contract fell to $2.27 in 2005 from $2.49 in 2004, but average commissions paid by an institution increased to $1.64 million from $1.57 million last year (WSL, 11/4). Hedge funds coughed up even more cash, and paid on average $2.6 million in 2005, up from $2.2 million in 2004.

Because there is more competition among the top trading outfits, firms are expecting derivatives traders to be more sophisticated than several years ago, Fleming said. Banks expect traders who come out of the traditional investment banking background to go back to school, and get the Masters' or even Ph.D.s before applying for work on a derivatives desk, especially if the trader wants to work on the proprietary side. "This is a business dealing with complex products, and it is really specialized trading, so a higher level of education is expected," said Leah Peskin, recruiter with Cromwell Partners.

Things You Ought To Know About Your Banker

noreply@blogger.com (BIF) — Mon, 21 Nov 2005 07:45:00 -0500

10 things your banker won't tell you
By Laura Bruce • Bankrate.com

Just how upfront with you is the banking representative who helps you open an account? Chances are he or she tells you about the various products and services the bank offers. You may even receive a list of fees or be directed to the bank's Web site to see the list. We thought we'd fill you in on things you won't be told, but you might find out over time.

1. "Our tellers get a fee for steering you toward our investment products."
Tellers and other bank employees get a "referral fee" for sending customers over to the investment side of the bank -- the area that sells products that aren't FDIC insured. Employees who sell nondeposit products receive a commission when they make a sale, but they're not supposed to make unsuitable recommendations. If the product is, for example, a mutual fund and one fund company pays a higher commission than another, the employee is not supposed to know that.

2. "We pay customers a miniscule amount of interest on savings and money market accounts to boost our profit margin as much as possible."
There's no doubt about it; banks are not nonprofit institutions. They're in business to make money. But, come on. FDIC-insured banks made $90 billion profit in the first three quarters of 2003. While consumers are earning on average 0.5 percent or less on savings and money market accounts -- not even keeping up with inflation -- banks are charging, on average, better than 7 percent for home equity and 48-month new-car loans.

3. "As long as there's no fraud involved, we really don't mind when customers bounce checks."
Fees are big business for banks, and punitive fees such as nonsufficient funds fees rake in the big bucks. Some institutions charge $12 if you bounce a check -- a bit of a sting but a good reminder not to let your account run down. But the average fee is around $26, and some banks will soak you for $35. You can get overdraft protection -- your check will be paid and that lets you dodge the bounced-check fee the retailer, utility, etc., might have imposed -- but you'll likely still have to reimburse your bank and pay its bounced-check fee.

4. "Wow, our savings accounts can be really expensive!"
Some banks aren't happy just with having you open and stock a savings account; they want to modify your behavior. Federal Reserve regulations limit to six per month or statement cycle the number of electronic transactions in certain deposit accounts, but some banks go far beyond the regulation, turning it into a source of fee income by charging for "excessive withdrawals." While the Fed doesn't stipulate a fee, we found banks charging anywhere from $1 to $10 per "excessive withdrawal," and some set the trigger point for that fee as low as two withdrawals a month. Teller and ATM transactions are not included in the regulation. Some banks charge $10 to replace a lost passbook, and some tightwads charge for deposit and withdrawal slips.
Looking for a better bank? Check for the best deal in your area.

5. "Our fees will eat up the $50 balance in your child's savings account in about five months."
Make sure your bank has a kid-friendly savings account before the little one deposits his or her money or you'll end up with a broke, sobbing child. Monthly service fees demolish low balances pretty darn quick. The best children's accounts have no balance minimums, no fees and they pay interest on any balance. If none of the banks in your area offers such an account, look for a bank that offers a free savings account -- no minimum balance and no fees, but you might not get interest unless there's a significant balance.

8. "Banks get robbed a lot."
The FBI says there were 10,150 bank robberies in 2001; that's about one bank robbery every 52 minutes.
Looking for a better bank? Check for the best deal in your area.

9. "There might be some crooks working here."
Not all the crooks rob the banks. The various governmental agencies that oversee our nation's banks issued, in 2003, more than 500 enforcement actions against banks and individual employees for all sorts of no-no's including mutual fund late trading, abusive loans with fees and closing costs amounting to, in one case, 123 percent of the loan itself, selling false and fraudulent investment certificates and manipulation of credit card accounts.

10. "We'd like to sell your personal information."
Banks want you to know they'll respect your right to privacy, and they'll only share your really important personal information with all the zillions of companies they're affiliated with. You have the right to opt out, but many times, that still doesn't prevent them from sharing your information.

A Few Favorite Quotes of Mine

noreply@blogger.com (BIF) — Sun, 20 Nov 2005 14:57:00 -0500

"Never argue with an idiot, they will drag you down to their level and beat you with experience". -Anonymous

"The gods gave man an easy life, but man has complicated it by itching for luxuries." Diogenes

“Experience should teach us to be most on our guard to protect liberty when the government’s purposes are beneficial. Men born to freedom are naturally alert to repel invasion of their liberty by evil-minded rulers. The greater dangers to liberty lurk in insidious encroachment by men of zeal, well-meaning, but without understanding.”
—Justice Louis Brandeis

St. Theresa Prayer (cannot be deleted)

May today there be peace within
May you trust your highest power that you
are exactly where you are meant to be....
May you not forget the infinite possibilities
that are born of faith
May you use those gifts that you have
received, and pass on the love that has been
given to you....
May you be content knowing you are a child of
God....
Let this presence settle into our bones,
and allow your soul the freedom to sing, dance,
is there for each and every one of you....

Astrologer's View of the Markets

noreply@blogger.com (BIF) — Sat, 19 Nov 2005 08:22:00 -0500

A modern day nostradamus? I'm not quite convince, but you can be the judge of this astrologer's weekly predications about the financial markets and next year's forecast as well.

Financial Links

noreply@blogger.com (BIF) — Sat, 19 Nov 2005 08:01:00 -0500

This is a nice collection of financial links. There is quite a bit of links that don't work though.

Humor

noreply@blogger.com (BIF) — Sat, 19 Nov 2005 07:08:00 -0500

Misc. News and Links

noreply@blogger.com (BIF) — Fri, 18 Nov 2005 07:20:00 -0500

Email Time Capsule

America's Top Philantropists

Wachovia Moves Prop Trading Off Stock Desk

Housing in the U.S. Business Cycle

Hedge funds headed for a fall?

Soros Ups Stake In Microsoft

Biometric Pen

SeeFree

Shotgun Rules

Book Wish List

noreply@blogger.com (BIF) — Fri, 18 Nov 2005 06:09:00 -0500

I think I am going to hit my stride at a later stage in my life both personally and in my career. I've had to alter my career path in order to achieve the level of success that I want to accomplish and so hopefully, my second act in life will be marked with success and personal growth that I seek to desire.

Anti Smoking Breakthrough

noreply@blogger.com (BIF) — Thu, 17 Nov 2005 07:47:00 -0500

New medical breakthrough from Pfizer as they have discovered an anti-smoking drug called varenicline, which upon approval will be marketed under the brand name Champix. Speaking of anti-smoking, today is the annual Great American Smokeout, which is sponsored by the American Cancer Society to encourage Americans to quit tobacco smoking. I also found this great gadget to help smokers remind them on the number of cigarettes they actually smoke.

Find Lowest Gas Prices in Town

noreply@blogger.com (BIF) — Thu, 17 Nov 2005 07:11:00 -0500

This gadget pin points the lowest gas prices in town. Free download

Surplus of Oil in the World?

noreply@blogger.com (BIF) — Thu, 17 Nov 2005 06:24:00 -0500

I came across this book by Jerome Corsi and Craig R. Smith. After googling these authors, here is what the website said about the two authors and the book they wrote:

The co-authors shared the contention that oil is continually created deep inside the planet, and doesn't stem from dinosaurs or decayed matter (i.e. fossil fuel). Accordingly, there is an abundance of this material and the so-called scarcity is a marketing ploy to charge higher prices, they said.

The Russians developed the "abiotic" (non-biological) theory of oil back in the 1950's and the idea in recent years was put forth by Dr. Thomas Gold, a professor at Cornell University. Corsi and Smith also argued that global warming is unrelated to the burning of hydrocarbon fuels, citing that carbon dioxide is less than 1% of the atmosphere. We haven't had a new oil refinery built in the U.S. in the last 30 years, said Smith who blamed environmentalists for discouraging these efforts.

The U.S. could lower its reliance on foreign oil by drilling offshore and in Alaska, and Corsi and Smith suggested that there is no shortage of supply, if we dig deep enough. They also were in favor of the increased usage of nuclear power, using the latest technology to increase safety.

Top Paid Hedge Fund Managers

noreply@blogger.com (BIF) — Wed, 16 Nov 2005 08:10:00 -0500

Here is the list of the top 25 best paid hedge managers for 05'.

Overpaid Hedge Managers?

noreply@blogger.com (BIF) — Wed, 16 Nov 2005 07:17:00 -0500

On average, the top 25 hedge fund managers earned at least $100 million in 2004. Are they overpaid? Compared that to the top 25 CEOs who made on average $72 million. No wonder why portfolio managers and the like are leaving to start up hedge funds. It's like during the internet bubble when even portfolio managers were leaving their job position to go work at internet companies in hopes of going public and making a truck load of money.

Not All Hedge Funds are Treated Equally

noreply@blogger.com (BIF) — Wed, 16 Nov 2005 06:07:00 -0500

With the collapse of Refco, Bayou, and Long Term Capital Management to name a few, not all hedge funds are sure bets. For every winner, there is a loser on the other side of a trade. Beware of the hedge fund folly.

Shirt Folding

noreply@blogger.com (BIF) — Tue, 15 Nov 2005 08:28:00 -0500

This is another way to fold those shirts of yours, just like at the department stores. I had to play this a couple of times to get it.

Tips on Avoiding the Shopping Trap

noreply@blogger.com (BIF) — Tue, 15 Nov 2005 07:59:00 -0500

With the holiday season upon us, shortly, shoppers need to be wise to the tricks used to manipulate them during the sales, warns David Derbyshire.

Top 50 Chains

noreply@blogger.com (BIF) — Tue, 15 Nov 2005 06:59:00 -0500

I prefer Wendys over the other fast food chains but...whoooooooo cares? Top 50 Chains.