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User 113169

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  • Fiscally Irresponsible Friday: Trading for Magic Beans [View article]
    Good grief! This guy Phil is truly clueless. I can't believe that he actually has 50,000 "followers". I truly feel sorry for most of these people. If they spent less time reading his mindless political drivel, and more time working harder -- and smarter -- they'd be a lot better off in life.

    Yes, it's true that there are ridiculously overpaid investment bankers and hedge fund managers (I've known a few), and there are also "trust fund babies" who have inherited wealth -- but complaining about them isn't going to do anything to help you!

    The fact is that the overwhelming majority of people who have accumulated significant wealth have done so because they got a good education (which means actually studying hard and learning something useful rather than just getting high and occasionally showing up for liberal arts classes), worked hard (ridiculous hours), worked smart, and took well-calculated risks in their careers. They deserve what they have earned, and in the process have paid the overwhelming majority of taxes, and created the most wealth and jobs for others. They are also the largest contributors to charities.

    I truly hope that those of you who are complaining about such people will take a hard look at yourselves, and learn from those who have been truly successful in life, not just in their careers. With the future we are looking at in this country, you would be very foolish not to.

    In any event, you won't benefit from wasting your time reading comments from the likes of Phil!
    Dec 18 05:07 PM | 6 Likes Like |Link to Comment
  • 3 Pitfalls To Avoid When Retirement Planning [View article]
    You are assuming that there will be no cuts in government pension plans. Considering that the Federal Government is broke, as well as many states (e.g. California), that may or may not be a good assumption.

    Increasing taxes isn't going to solve the problem -- when one includes the National Debt, Unfunded SS, Medicare, Medicaid, etc., the total liability is estimated to be more than $80 Trillion. The entire net worth of the US population is only about $50 Trillion -- meaning that even if the Federal Government took every time that every person in the country has (which clearly will never happen), they still wouldn't be able to pay off these debts.

    Something to think about...
    Jan 2 05:10 AM | 4 Likes Like |Link to Comment
  • Proposed Dividend Tax Is As Uninformed As It Is Naive [View article]
    Obama (and many other people) doesn't realize that the vast majority of those who make > $250K do so because they worked harder, smarter, and took more risks -- in other words, they deserve what they earned. But Obama doesn't understand this because he's never had to work very hard or take any risks. The only thing of significance that he's ever accomplished is getting elected.

    But unlike Obama, who has a nice pension and numerous ways to make money after he leaves office, most poor people are likely to stay that way because his policies will only reduce opportunities for them to make a better life for themselves. Sadly, these same people don't realize that voting for him will only hurt them even more in the end.
    Mar 2 04:02 PM | 3 Likes Like |Link to Comment
  • Fiscally Irresponsible Friday: Trading for Magic Beans [View article]
    After hearing his drivel, why would/should we believe that Mr. Davis "made money trading options".

    Just more proof that while there are a number of good, well-thought-out articles here on Seeking Alpha, there is also a lot of garbage. One needs to be able to discern the difference in order to benefit.
    Dec 19 07:11 PM | 3 Likes Like |Link to Comment
  • The Foundation Of Options Trading [View article]
    I hadn't realized that Boehner caused the shooting last week...
    Dec 19 12:18 PM | 2 Likes Like |Link to Comment
  • Why Apple Should Not Pay A Dividend (Or Do Anything Else Incredibly Stupid) [View article]
    WmInce -- yours is probably the most insightful comment in this thread...
    Feb 27 05:01 AM | 2 Likes Like |Link to Comment
  • Rising Inequality And The Economic Crisis [View article]
    Rich in Quebec -- what could be more "anecdotal" than attending a college graduation ceremony? And you think it's reasonable to compare this "experience" with that of someone who has actually studied engineering, practiced it in the real world, and personally known and worked with many engineers? Good grief....
    Jan 17 03:29 AM | 2 Likes Like |Link to Comment
  • Rising Inequality And The Economic Crisis [View article]
    "The one thing a liberal arts education did teach me was, to think critically, to listen to others and weigh what they said, to read constantly, and to study everything that I could get my brain around."

    In my own experience at least, you are by far the exception rather than the rule.

    Then again, many (dare I say most) people I've known who believe they can "think critically" still suffer from points 2) and 3) I noted above -- and in my experience this issue is overwhelmingly one of those with liberal arts educations.

    To think that those who study engineering and business don't "listen to others", or "read constantly", or "study everything I could get my brain around" -- or focus on the "posession of dollars" is simply naive.
    Jan 15 02:46 PM | 2 Likes Like |Link to Comment
  • 3 Pitfalls To Avoid When Retirement Planning [View article]
    Dave -- unfortunately I think you are missing the bigger point with respect to SS. There is no real money in the SS fund, only IOUs from the Federal Government that will have to be repaid with future taxes. It's not like your 401k plan where you have real money in the account that you can eventually withdraw when you retire

    The Federal Government has been raiding the so-called SS "fund" for decades. As a result, Social Security is currently about $15 Trillion underfunded. The Federal government will have to either cut SS benefits, or print money -- and they'll probably do both. Medicare is about $35 Trillion underfunded, and probably more at this point.
    Jan 3 02:54 PM | 2 Likes Like |Link to Comment
  • 2012 Dividend Investing Goals [View article]
    I wonder if your expectation of 8% dividend growth is reasonable. I recently did an analysis of 108 dividend stocks, and the median dividend growth rate over the past 3 years was 5.3%, and over the past 5 years it was 7.2%.

    What do you think?
    Jan 1 04:05 PM | 2 Likes Like |Link to Comment
  • Rising Inequality And The Economic Crisis [View article]
    Excellent comments. I hope that more young people follow them.
    Dec 4 09:39 PM | 2 Likes Like |Link to Comment
  • Rising Inequality And The Economic Crisis [View article]
    The original article has some good insights.

    But many of the subsequent comments are little more than theory from "intellectual academician-types" (or wanna-be's), and precious few with the substance one gains from being in the real world and doing something that adds real value. Lots of commentary about what is happening, but few credible suggestions about how to deal with it in a changed world.

    More proof of why the "liberal arts majors" are having a difficult time getting jobs, and why their response is to try to force the government (through their extreme liberal politics) to "redistribute wealth" to those whom the market deems add little value. The problem is -- it won't work. The government could take every dime from every US citizen, and it still wouldn't pay off the total government debt and unfunded liabilities. The only way to improve life for the less fortunate is to make the whole pie bigger, and the only way to make the pie bigger is to incentivize (and appropriately reward) those who work harder, smarter, and take more risks. This pretty much by definition means a disparity in incomes.

    Why not study something that's actually useful in the real world, work hard, take calculated risks, create something new that actually helps people improve their lives -- and maybe even get rich (and pay a lot of taxes) in the process? I did, and I don't feel that I owe anyone anything. Although I do plan to give a sizeable portion of my assets to charity upon my demise -- assuming the government doesn't steal it from me for their pet causes in the meantime.

    To paraphrase -- I think it was Woody Allen -- "Those than can, do. Those that can't, teach. Those that can't teach, teach gym. And those that can't teach gym, pontificate on Seeking Alpha."
    Dec 4 06:21 PM | 2 Likes Like |Link to Comment
  • Short Apple's Jobs Premium [View article]
    It's not just Jobs' unique vision and formidable design skills, it's also the fact that, being a founder, someone whom Apple employees eminently respected, and who had a domineering personality to the point of being "a nut case" (as one of his best friends once described him to me), he could demand that the company follow his every request -- and everyone followed.

    None of the current senior management team will be able to do this, for the above-noted reasons. If you've ever worked in a Silicon Valley tech company (I have, including AAPL), you know that the employee culture is one where "process" is more important than actual results achieved, and where everyone's opinion is considered of equal merit -- regardless of the experience or background of the person providing the opinion. This was not Jobs' philosophy at all, nor will it change in Silicon Valley anytime soon, if ever.

    This does not mean that AAPL (both company and stock) won't do well in the intermediate term -- it very likely will. But at some point in the future (possibly when the Jobs-created pipeline of products gets depleted), AAPL will start to become a more "typical" tech company.

    In short, there really is no one who can replace Jobs. Even if you found someone with his vision and personality (obviously no small trick), given that person wasn't a founder, doesn't have the same track record, and isn't a domineering "nut case", he/she won't command anywhere near the same amount of respect from employees -- nor their allegiance.

    Oops, I said something controversial about Apple again... Putting on my flack shield before the FanBoys read this...
    Oct 9 05:12 PM | 2 Likes Like |Link to Comment
  • 3 Tips To Improving Your Dividend Growth Returns [View article]
    The fundamental problem with GE is that Jeff Immelt is no Jack Welch. Elevating him to CEO is probably the single biggest mistake Welch has made in an otherwise stellar career.

    Immelt should spend more time running the company, and less time playing buddy buddy with Obama, and investing in politically correct businesses that have poor business models.

    Until Immelt is gone, I'd stay away from GE (and I used to work there many years ago when Reg Jones and Welch were running the company).
    Apr 23 11:40 AM | 1 Like Like |Link to Comment
  • How Trading Apple Can Bring Both Rags And Riches [View article]
    Samson -- have you noticed that the people who have the most insightful comments here (e.g. Rocco, Kim, unremitting) never talk about how much $$$ money they made/lost on their trades -- like you do? Have you noticed their comments engender lots of other well-thought-out comments and notes of appreciation -- whereas no one seems to respond to yours? Think there might be a reason?
    Mar 2 07:46 PM | 1 Like Like |Link to Comment
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