October, 2008:

Capital One Offers 5.5% APY CD

Capital One is offering 5.5% APY on a 7-year CD. This rate is among the highest yielding CDs available now. If you do not need the money for 7 years, this a very good investment with a low degree of risk. A CD can also be used to diversify your investments.

Here are some of the other CDs from Capital One (minimum $5,000):
CD Term Interest Rate APY
6 months 2.96% 3.00%
1 year 3.68% 3.75%
18 months 4.32% 4.41%
2 years 3.92% 4.00%
30 months 3.92% 4.00%
3 years 3.92% 4.00%
4 years 4.88% 5.00%

5 years 4.40% 4.50%
7 years 5.35% 5.50%
10 years 5.35% 5.50%

Dow Rises 189 Points

Dow closes 189 points higher today. The DOW was in positive territory most of the day, which is good news. Hopefully, we will see some consolidation here before the next rally. I think it is a good time for the market to go higher before the Presidential elections, which is only 5 more days away.

Dow 9,180.69 +189.73 +2.11%
Nasdaq 1,698.52 +41.31 +2.49%
S&P 500 954.09 +24.00 +2.58%

Philadelphia Tenant Saga – Part 3

Continued from Philadelphia Tenants Saga

Two weeks later after the last phone conversation with my tenant and his wife, I received a phone call from my tenant. He said that they have the $400 check for me. They were supposed to send the check one week ago, but I let it go. He also said that he would send me the full payment for the water fees. I received 2 checks three days later and deposited them. One check was for $400 (the second part of the rent for one month) and $134 (the full payment for all the water fees.)

The funny thing was that he emphasized the water fees check amount was written for $134.00, instead of $133.98. He told me that he didn’t like to write checks with loose change so he rounded up the number for good sake. I did not see the good cause. So he gave me two cents extra on the check, but he was late on his payments for many months and gave me many headaches. I found it difficult to appreciate his good sake to round the check amount up to the nearest dollar.

The good news was that I have received my business and rental license approval. I could legally file an eviction, but I would hand it to an attorney who has experience. Before I would contact the attorney office again, I thought of giving my tenant a final warning and ask my tenant to leave. I guessed I could persuade them to move out without an eviction, but I could be wrong.

In any case, I would have to recalculate all the amounts my tenant owed me. If my phone call would not prove to be successful, I would send the updated numbers to the attorney office and proceed with the eviction.

Breakdown of Amounts the Tenant Owed me
Rent Owed
$900 – Rent for July 2008
$900 – Rent for August 2008
$900 – Rent for September 2008
$900 – Rent for October 2008
Total Rent Owed: $3,600.00

Late Fees
$45 – Late Fee for July 2008
$45 – Late Fee for August 2008
$45 – Late Fee for September 2008
$45 – Late Fee for October 2008
Total Late Fees Owed: $180.00

Water Fees
$3.66 – water fee from previous outstanding balance
$69.11 – water fee for July 2008
$61.21 – water fee for August 2008
Total Late Fees Owed: $ 133.98

Miscellaneous
$50 – maintaining the lawn

Total Owed (Rent Owed + Late Fees): $3,963.98

Payment Collected
$500 – check from September 2008
$400 – check from October 2008
$134 – check for all the water fees
Total Payment Collected: $1034.00

TOTAL OUTSTANDING BALANCE: $2,929.98

Read more:
Philadelphia Tenants Saga – Part 1
Philadelphia Tenants Saga – Part 2
Rental Property

Carnival of Personal Finance #176

The latest edition of the Carnival of Personal Finance, the “Financial Armageddon” edition, is now online at Master Your Card. Jonathan selected one article to feature as Editor’s Choice, Obama vs. McCain: Presidential Candidates Sound Off on Your Money.

Stocks Trades Summary

Today’s Trades (10/29/2008)

Sold shares of XLF @ $14.85
XLF opened at 14.90, lower than yesterday’s close at 15.25. I saw it dropped to the low 14′s and when it bounced back I sold shares at 14.85. I could have waited and sold it above 15, but I could have missed out an opportunity to sell if it had dropped back to the 13′s. In such volatile markets, I thought of taking profits first and sold my shares.

XLF SELECT SECTOR SPDR-FINANCIAL
Last [Tick] 14.31[ - ]
Change -0.94
% Change -6.16%

Bid 14.50
Bid Size 93
Ask 14.56
Ask Size 20
Open 14.9000
Volume 174,456,026
Day High 15.4800
Day Low 14.31
Previous Close 15.25
Prev. Close Date 10/28/2008

Stock Market Ended Mixed

Dow 8,990.96 -74.16 -0.82%
Nasdaq 1,657.21 +7.74 +0.47%
S&P 500 930.09 -10.42 -1.11%

Today’s Winners are Energy and Materials. Today’s Losers are Telecom and Utilities.

Fed cuts key interest rate half-point to 1 percent

Stocks end mixed in late slide after Fed rate cut

DOW Soars 890 Points Today

Finally, the stock market has come back with a strong rally. Stocks surge as investors hunt for bargains. The DOW jumped almost 890 points.

Dow 9,065.12 +889.35 +10.88%
Nasdaq 1,649.47 +143.57 +9.53%
S&P 500 940.51 +91.59 +10.79%

Verizon Communications Inc. (VZ) continued to go up and closed at 31.65. I had sold all my shares of VZ at $28 yesterday, lost an opportunity cost of 3 dollars and change per share. I still have a lot of holdings that are still deep in the red, like Financial Select Sector SPDR (XLF), Noble Corp. (NE), Pfizer Inc (PFE),
American International Group, Inc. (AIG), and FANNIE MAE(FNM).

The question is, will the market hold its gains tomorrow?

New Blog Theme

I have switched over to the ArchitecturalDigest theme for my blog. I had noticed a problem with the i3Theme template. The right sidebar is not displayed correctly in Internet Explorer 6.x. About 20% of my readers are using IE 6.x so that is a decent size of the population.

The ArchitecturalDigest theme seems more appropriate for a financial blog. I have received some positive feedbacks about the ArchitecturalDigest template. I was told that the theme looks nice and professional.

There are two things I noticed about the ArchitecturalDigest template that may be a concern.
1. Hyperlinks are not underlined. (perhaps this can be fixed).
2. There is not page titles (About, Contact, etc)

I think the answer to the problem with hyperlinks is in the CSS file. As for the page titles, I can just add it as a widget on the sidebar.

ArchitecturalDigest theme

i3Theme theme – right sidebar is not displayed correctly in IE 6.x.

Browser share – IE 6.x 20%

Dow loses over 200 points

The market continues to drop. Are we close to a bottom? I do not know. I took advantage of today’s good news from Verizon and sold my Verizon shares.

Euro and Canadian Dollar Fall Against U.S. Dollar

With wreckage piling up, Fed eyes another rate cut

Robert Sinche of Bank of America talks about why the US Dollar is strengthening.