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David Zanoni
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David Zanoni is the owner of startbuildingit.com. He is ranked in the top 1% out of over 5,000 analysts according to tipranks.com. He has a success rate of over 70%. David is a graduate of Rutgers University with a B.S. in Management. He is an independent long term investor of quality stocks and... More
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  • Need Help w/ Choosing Funds? Use the Free Bankrate Asset Allocator

    Do you need a better idea of what mix of stocks/bonds/cash you should have in your 401k, 403b, or IRA plans?

    This free calculator from Bankrate.com allows you to get a customized mix of assets based on your age and other factors.

    Check out the link below to see how you should divide up your assets:

    www.bankrate.com/calculators/retirement/...
    Sep 05 4:03 PM | Link | Comment!
  • Gold is Due for a Correction – Wait to Buy

    Gold hit a record of $1852 at Friday’s close.  Its recent run up since July 11 has been impressive.  However it is now in overbought territory and has been for about a month.  Gold doesn’t typically stay in overbought territory according to the stochastic oscillator for much longer than this.  It is just a matter of time before a correction takes place.  When the correction does take place, expect gold to fall  5% - 10%. 

    If you are bullish on Gold for the long-term,  I would suggest waiting for the next pullback before starting a new position.  If you already have a position in a tradable ETF such as GLD, IAU, UGL, GDX,  or an individual gold stock you should consider taking some profits.  Perhaps sell 25% - 50% of your holdings.  If you just want some downside protection and you already own one of the ETFs consider selling some out of the money call options against your long position.  Look to sell call options that are 10% - 15% out of the money.   As an alternative, you could buy a put option, but they are looking a little expensive right now – the odds are in your favor to sell out of the money call options. 

    My opinion is that we’ll have a 5% - 10% correction within the next few weeks.  After that, I think that gold will continue to move towards $2000 an ounce. 


    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
    Tags: gold
    Aug 20 9:10 AM | Link | Comment!
  • Warren Buffett’s Views on Taxes

    I have great respect for Warren Buffett’s recent blog about how he and super wealthy individuals should be paying more taxes than they do currently.  This is what Buffett wrote:   "The mega-rich pay income taxes at a rate of 15 percent on most of their earnings but pay practically nothing in payroll taxes"  It's a different story for the middle class; typically, they fall into the 15 percent and 25 percent income tax brackets, and then are hit with heavy payroll taxes to boot."  What Buffett is saying is that the super wealthy have the advantage of paying only 15% in capital gains taxes.   Since most of their income comes from capital gains, Buffett feels that individuals similar to him in wealth should be paying more in taxes. He believes that anyone who earns $1 million or more per year should be paying more in taxes.

    Aug 19 9:42 PM | Link | Comment!
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