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Chris DeMuth Jr.
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"It's not given to human beings to have such talent that they can just know everything about everything all the time. But it is given to human beings who work hard at it - who look and sift the world for a misplaced bet - that they can occasionally find one." - Charlie Munger I look... More
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  • Ronald Reagan Forever 2 comments
    Jan 28, 2013 2:51 PM

    Stamp machines had not yet updated yesterday, so one could still purchase "Forever" stamps at $0.45 and return them today for $0.46. Not very scalable, but good for over a 2% riskless return in 24-hours. Machines had as much as $900 per post office for 2,000 stamps and a $20 return. Add to that another $9 or so for the credit card rewards.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Additional disclosure: Chris DeMuth Jr is a portfolio manager at Rangeley Capital, a partnership that invests with a margin of safety by buying securities at deep discounts to their intrinsic value and unlocking that value through corporate events. In order to maximize total returns for our partners, we reserve the right to make investment decisions regarding any security without further notification except where such notification is required by law.

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  • bazooooka
    , contributor
    Comments (2893) | Send Message
     
    I have a collector friend who bought a bunch back in 2007 and he sells me some for less than current face yet make a tiny profit. 50 bucks worth lasts me a year or two so I can't imagine he makes more then a few dollars on the deal. Then again someday postage will be over $1 and my friend likely will still have thousands of them left as well as bragging rights.
    28 Jan 2013, 06:45 PM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (4371) | Send Message
     
    Author’s reply » Nice. This is not the most scalable strategy. However, I have been selling some items via online auctions, so need to regularly stop by the post office on my walk to work anyways. This was my way of paying for postage.
    28 Jan 2013, 06:51 PM Reply Like
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