When management owns stock, then rewarding the shareholders becomes a first priority, whereas when management simply collects a paycheck, then increasing salaries becomes a first priority. – Peter Lynch
January, 2007:
Growing Money Blog Link
I was browsing on other financial blog sites and I’ve noticed that a lot of them still have my old link, http://growingmoney.blogspot.com. Please update your link to http://www.growingmoneyblog.com
Also, if I miss your link on my list, please let me know. If you would like to exchange links, contact me at growingmoney (at) gmail.com or leave a comment here. For RSS readers it is, http://feeds.feedburner.com/GrowingMoney
Product Review: Sony Ericsson W810i Phone
I signed up with Cingular in November of 2006 and chose the Sony Ericsson W810i. The phone is free for me, but I had to pay $250 up front and receive $250 in rebates three months later.
The Sony Ericsson W810i has a nice design and a bright, sharp, large screen. It comes with a pretty good camera, but I wished it had the three megapixel lens in the Sony 800i. The phone shines most in the music arena. It has great sound and the speaker really blows you away. No wonder it’s called the Walkman phone. I bought a 2GB memory card and use the phone as a MP3 player everyday. It can also play radio stations, a big bonus. If I run out of music, I can just tap into the radio. I also take advantage of the speakerphone feature for handsfree conversations. It is a huge improvement for me, because my old phone, the Sony Ericsson 610 doesn’t have a speakerphone feature and I hate holding on to the phone with my hands or neck. Now, I can engage in a phone conversation while typing with both hands and looking straight at the monitor with my head untilted.
The phone comes with lots of features. There is a sync feature with Outlook Contacts and Calendar. It comes with one game, JC Does Texas. The game was fun for a while, but I beat it in a week. Battery life is very good in my experience. My only complain is that the buttons in the center are too closely packed together. It’s very easy to hit the wrong button. Other than that, it’s a very neat phone. This phone is definitely a nice upgrade over my old Sony Ericsson 610.
Rating: 4/5 stars
SmartBuy? Yes
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Data from Sony Ericsson website.
Disclaimer: No compensation was received for this review. The contents on the post are entirely opinions of the blogger.
Bought PEIX today @ 16.00
PEIX has been dropping since Tuesday when Bush’s speech took place. Apparently, Bush’s push for ethanol was not enough to convince investors. I had set a limit for 1000 shares at $16 in the morning and the order filled before the market closed. Unfortunately, the odds are against me. From the trends in the graph and with the lack of confidence in ethanol productivity it looks like the stock may drop to $15 or lower.
Sold RACK today @ 20.00
Fearing the tech rally may not last long, I decided to take profits on RACK today. I sold all of my 500 shares at 20.00, for a profit of $750 or 8.1% gains in three days.
Money Management 201
ACCOUNT SETUPS
Credit Card Account
This account is use to make purchases on credit. Use this account to build up credit and rack up points/miles/cash. Make sure you can pay off amount before charging. Preferably, this account pays rewards and has no annual fees.
Checking Account
This account serves as a front line for financial transactions. Use this account to write checks and handle transactions not accessible in savings accounts. Preferably, this account pays interest. However, it’s more important to be fee-conscious.
Short term Savings Account
This account serves as your emergency fund and should host about three to six months of income. Cash should be easily accessible. Preferably, this account has a high-yielding interest rate.
Long term Savings Account
This account serves as a dedicated place for your savings. Accessibility can be sacrificed for higher yields. Certificate of Deposits and other secured investments are options here.
Non-Retirement Brokerage Account
This account serves as a trading center for stocks, mutual funds, bonds, or other investments. It should have low commissions and no annual or maintenance fees. Discounted brokerage accounts are options here.
Retirement Brokerage Account
This account serves as an investment center for your retirement portfolio. It should have low commissions and no annual or maintenance fees. Index funds, mutual funds, and dividend stocks are options here.
Account Management
Manage all your accounts using financial software such as MS Money or Quicken. Track all incoming and outgoing financial transactions.
Q&A: Diamond Ring from Costco or Tiffany’s?
Mr. Credit Card from Ask Mr. Credit Card emailed me a question. My answer is pasted below.
I just wanted to hi to another fellow pf blogger. I found your site
through the latest pf carnival and I wanted to ask your opinion about
the following:
I just wanted to hi to another fellow pf blogger. I found your site through the latest pf carnival and I wanted to ask your opinion about the following :
A while ago at a party, a group of us were talking about a tv news segment which shows how a comparable diamond ring at Costco would cost thousands more at Tiffany because of the ‘Tiffany premium’. An argument that ensued as to whether a lady will accept that her engagement ring was bought at ‘Costco’. I just wrote a post about this conversation on my blog and am conducting a poll to see what people think.
Regards
Mr Credit Card
Hi Nick,
I visited the link you sent me and read your post. First of all I think financials and romance should not be mixed. They should be looked at independently, otherwise, there would be too much debate. It’s like asking, “Would you take your girl to a cheap restaurant as opposite to a fancy one on your anniversary” They both serve the same food, so why pay ten times for it? Sometimes, I just don’t think you could put a price tag on love. Don’t get me wrong, I think some cheap restaurants serve better tasting food than expensive ones, but it may not make the anniversary as special.
Having said that, I took your poll and voted No. Even though it may be the same ring, I would give one from Tiffany because it carries a better warranty. Plus, I would not be sure if Costco’s ring is real-real. Reputation is important here, because you don’t want to be ripped off. It’s a once in a lifetime thing. I would imagine it should be special. I wouldn’t want my future wife to share the same ring with 2 million other Costco customers, right? You’re the married one here, you tell me!!
Your question brings other questions to my mind. What about buying instant photos from theme parks or Disney World? The photo itself is certainly not worth $20, but the moment captured is priceless. What about buying popcorn and drinks for a date in the theater? The food is certainly overpriced, but sometimes it makes the experience worth the price. The point I’m getting to is that I think it ultimately depends on the buyer. And whether the buyer thinks it is worth it? The way I see it, people who are overpaying for something are not looking at it from a financial point of view.
AVAV IPO Rises More Than 40%
RACK Surges 7.7% Today
RACK jumped over 7% today due to heavy buying and shorts covering. Today’s volume is three times the average volume. The stock appears to be oversold after dropping more than 30% from a low guidance.
The stock closed at 19.84. I bought 500 shares yesterday and gained $670 of unrealized profit today. Buying RACK was easy. The hard part is selling. I could sell it tomorrow for a quick profit or hold it until the stock rebound back to the 30s.
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