My sister’s DSL modem broke down and I called Verizon DSL Tech Support on Saturday. I waited about 15 minutes on the phone and finally a lady took my call. She made me go through the usual procedure of testing the modem. I had already tested it on the modem on two different outlets and confirmed that the modem was dead. But anyway, I understood that it was business procedure for her to run the tests on the modem so I followed her instructions. Fifteen minutes later, we came to an agreement that the modem was dead because none of the modem lights would turn on. Long story short, she said that I would have to call the Verizon DSL Billing Department on Monday to order a new modem. Now that was something I could not reason out. Why did I have to pay a new modem if I’m already paying the monthly subscription? I could order a new DSL service and get the modem for free. I just didn’t get it. If your cable box broke, the cable company would send you a new one. The lady was somewhat understanding, but she told me to talk to Billing Department because there was nothing that she could do.

I called the Verizon DSL Billing Department this Monday and had to wait 45 minutes to get to a customer service representative. I hate waiting. A lady finally picked up and she answered with an I-don’t-care-about-you cocky attitude. I told her the issue with my modem and asked if I could get a replacement. She said that my modem was out of warranty and that I would need to buy a new modem. The new modem would cost around $60 and since I’m a customer I would get a discount and only need to pay $40. I explained her that it doesn’t make sense how I would have to pay a modem that should be included in the service. She replied with an attitude, ignored my point totally, and told me that my warrant expired and I would need to buy a new router.  And to make matters worse, during the entire conversation, she complained that she couldn’t hear me, despite that I was speaking clearly and closely to the handset on a land line. I had to repeat myself a dozen times and raise my voice while I was in the office. I got really annoyed and tired of repeating myself so I told her that I’ll call her back. Of course, I never called her back. I didn’t think there were any problems on my phone or hers. I could hear her crystal clear on the phone, plus I made phone calls before and after the call, and everyone else could hear me with no problems.

I wasted a good 2 hours with Verizon and I still have not fixed the problem. Mind you, $40 is not a lot of money to me, but I don’t believe I should pay for the modem, especially when I could work around the modem fees. I could either subscribe to a new service to get a new modem for free or I can buy a modem from someone else for much cheaper. As a matter of fact, I have two unused Verizon modems sitting at my place and I’m not using them. I’m going to see if I can replace my sister’s dead modem with my old modems.

I understand technical issues can bring down time to Internet services, but I am really disappointed with Verizon’s customer service. I was agitated by their representatives. I expected much better customer service from a company of that size and reputation. I have been using their Verizon’s DSL service for more than 10 years, and this is how they treat a loyal customer. I would really like the management to know about this and for them to do something about it. If I could, I would drive the stock down 25% in one day to get the senior management’s attention. And I would tell them, “Based on my evaluation of your customer service department, your current stock should be priced at $2.20.”

Customer Service Rating: 0 out of 5 (I would want to give a negative rating but I don’t like to take things to heart.)

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Mr. Credit Card posted a review of the American Express Centurion Card.

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Everyone on Wall Street has heard of the name J.P. Morgan, but few knew how he had achieved his success. This DVD goes into his life and tells you the story of the super ambitious man.

J.P. Morgan became a millionaire at a young age and could have retired but his dreams were bigger than that. He was good at interacting with people and a highly skilled business man with vision. He saved the U.S. from bankruptcy two times and became a man with extraordinary power. Because of the government’s dependency on him, Theodore Roosevelt knew something had to be done. Thus, Roosevelt created the Federal Reserve.

Aside from business, J.P. Morgan was a fine art collector. His art collection was so huge, he opened a private art gallery to store his paintings, which later became an art museum.

The DVD covers the biography of his life and not much about his business strategies and ways of thinking. I see it more like a summary. If you’re interested in learning about J.P. Morgan’s life, then rent this DVD.

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This book talks about the growth and opportunities in Uranium. It illustrates the demand for Uranium and Uranium is the resource we should all buy now. After reading this book, I became more interested in investing in Uranium.

For specific investments, the book recommends buying BHP Billiton (BHP), Rio Tinto plc (RTP), Cameco (CCJ) and United States Enrichment Corporation (USU). Uranium is becoming more scarce and the price of Uranium only has one direction to go - up.

The book also talks about The Investment U’s Philosophy to a successful investing. One principle is a Trailing Stop Strategy of 25%. This is when you put a trailing stop of 25% on a stock to protect your profits or limit your losses from 25% off the peak. Another principle is Position Sizing. You should not have more than 2% of your portfolio in any individual stock. And the other principles are Emotionless Investing and Asset Allocation.

The book was easy to read and short enough to finish in a short time. It took me a few days, because I read it only during my train rides, but it could be finished in one sitting.

Recommended: Yes

Disclaimer: No compensation was received for this review. The contents on the post are entirely opinions of the blogger.

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Wall Street is about a bright, young stock broker, Bud Fox trying to make it to rich and fame. On his way he finds a shortcut, and his whole life gets affected by it.

The story begins with a normal work day for Bud. He walks to his office and finds his little tiny desk space and starts making cold calls, all day. He gets rejected more times than he can count, but that is the life of a stock broker.

He realizes he would need to take an order from a whale (a.k.a. someone loaded with money) to make big bucks. But he is at the bottom of the workforce, how can he talk to the big money man? Through his wits, he figures out a clever way to meet with him in person. And that one meeting changes his life. He goes from the bottom of the class to the top.

Then he realizes things aren’t so easy at the top. Sometimes the business even gets “dirty.” Eventually he realizes he isn’t happy about what he is doing, despite earning more money. Consequences of his previous actions catches on. And things start to fall apart in his life.

He finally sees the whole picture and realizes his mistakes. He decides to turn everything around. At the end, he does what is right.

I thought the movie was really good. It reminded me of Boiler Room, which was actually based off this movie. For those interested in taking short cuts to big bucks, I recommend watching Boiler Room and Wall Street.

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I received a complimentary copy of the book, Profit From China in December. Unfortunately, I was so busy I had not had a chance to read it until March. Thanks to Peter from John Wiley & Sons for sending me a copy.

Profit From China talks about the growth and opportunities in China. It illustrates the kind of pace china is growing at and predicts what China will be in the near future. After reading this book, I became more interested in investing in China.

For specific investments, the book recommends buying PetroChina (PTR), Bunge (BE) and iShares MSCI China Index (FXI). China is growing through a huge growing phase and is consuming a lot of oil and resources.

The book also talks about The Investment U’s Philosophy to a successful investing. One principle is a Trailing Stop Strategy of 25%. This is when you put a trailing stop of 25% on a stock to protect your profits or limit your losses from 25% off the peak. Another principle is Position Sizing. You should not have more than 2% of your portfolio in any individual stock. And the other principles are Emotionless Investing and Asset Allocation.

The book was easy to read and short enough to finish in a short time. It took me a few days, because I read it only during my train rides, but it could be finished in one sitting.

Recommended: Yes

Disclaimer: No compensation was received for this review. The contents on the post are entirely opinions of the blogger.

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Monkey Business - Swinging Through the Wall Street Jungle
by John Rolfe and Peter Troob
ISBN 0-446-67695-0
Retail $13.95 US / $19.95 CAN

Monkey Business is a book about two investment bankers’ life stories in investment banking. The stories are expressed explicitly in colorful detail. The authors shamelessly tell us about every thing that happens in their career.

One of my favorite parts are the interviews. Peter goes to the bathroom, which is next to the interview area and after Peter does his business, the odor from the bathroom fills up the whole room during the interview. The interviewers are obviously affected by the smell but they try hard not to be bothered by it. In another interview, Peter is sat in the middle of a huge, long table. Two interviewers sit on either ends of the tables and take turns drilling him with questions. Peter bounces his attention left and right across the two sides of the table like a ping pong ball. Peter knew the company did this on purpose to see how he would perform in this setup. It is a funny scene.

The life of an investment banker is very chaotic. It is not for everyone. You’re working 80-hour weeks and are always on the run. You could be working in New York one day and be in a client meeting in London another day, and then meet another client in Tuscan on the day after.

There are good perks in investment bank, however. You get to fly first class, stay in five star hotels, and go to fancy restaurants. You also make good money, even though you may not have time to enjoy it.

The book talks about the pros and cons of investment banking and all the things that goes on behind closed doors. The book is captivating and easy to read. After reading this book, you will find yourself either loving investment banking or hating it.

Disclaimer: No compensation was received for this review. The contents on the post are entirely opinions of the blogger.

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Last fall, I was trying to find a business bank account with checking and interest-earnings. I looked through many banks. At that time I had a free Business Checking account with HSBC. Unfortunately, HSBC did not offer interest on the account.

After much searching, I finally found Fidelity. Fidelity offers interest for business accounts with check writing. I saw a promotion for $100 with a $10K deposit. I moved all my money from HSBC to Fidelity. In Fidelity, they offered different money market options. I chose the FIDELITY NY MUNI MONEY MARKET (FNYXX). The fund is tax-exempt from federal, state, and city taxes.

Fidelity provides more than just a brokerage account. I realized I could link all my accounts together with Fidelity. It gave me the idea of account management in one place. I started a personal account with them as well. I told them I was an active trader and they gave me the lowest commissions’ schedule, which is $8 per transaction.

For market research, Fidelity is rated among the top for having the best research tools in the industry. I could find tons of reports in Fidelity’s Research section that I could not get from TD Ameritrade or Scottrade. Another feature I like about Fidelity is that they offer IPO trading.

Fidelity’s customer service is excellent. Compared to TD Ameritrade, Fidelity’s customer service representatives are like angels. The Fidelity representatives are professional, knowledgeable, and patient. They always answer my questions and try to accommodate my requests. It gives me a taste of luxury, and makes me want to try Fidelity’s Privilege services.

I would definitely recommend Fidelity Investments.

Rating: 5/5
SmartChoice? Yes

Note: I am not affiliated with Fidelity and I do not work for them.

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