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Jes' Yer Friendly Neighborhood Ol' Broked Down Retahr'd Union Pipefitter...... and his 401 Plan
Saturday, May 23, 2015, 07:30 PM
People will go to extraordinary lengths to rationalize market action and make it fit their narrative. This year wasn’t 1929, or 1987, or even 2007. It was in fact, 2014.
-- Jon Boorman
IF YOUR A FIRST TIMER TO THE BLOG, CLICK HERE...
http://joefacer.com/pblog/static.php?pa ... 729-141334
I'm all in in stocks because of what I read, what I've learned, and most especially, because I'm prepared to harvest gains and minimize losses when the time comes. YMMV.
  ( 3.1 / 1079 )
Jes' Yer Friendly Neighborhood Ol' Broked Down Retahr'd Union Pipefitter...... and his 401 Plan
Monday, May 4, 2015, 12:43 PM
Big data and other wonders of the high tech world didn’t make us any smarter — at least when it comes to markets. The 50% drop in oil prices has humbled us all.
-- Nancy Miller
Kinda takes me back to the 60's. A buddy of mine was at SF State sitting on the lawn between classes while demonstrations were occurring on the other side of the area. The cops scattered the demonstrators and one cop chasing a handful of demonstrators, ran past my buddy, still sitting on the lawn, and at full speed, took a one handed swing at a short haired sitting spectator. Don slammed back against the ground and the baton whistled past his face. Coulda splattered his brains. I don't claim to be an oppressed minority, but I have at least some appreciation of the below... I do get a kick outta the other attendees at the financial conferences I attend talking about what the "old hippie" is doing there. There was a time (still is actually, I flew back to Chicago and bought a truck and drove it back. Got a lot of hard eye here and there onna way) that my appearance symbolized a threat to God and Country. http://www.theatlantic.com/politics/arc ... re/391158/
It's a complicated world, and I'm no longer a pipefitter, I'm a retiree investor hell bent on making my life savings work for me and my family. But I've never figured that made me one of the guys who will get bailed out the next time Wall Street craters itself. Most of the time, I'm on Betty Dub's side...
http://www.bloomberg.com/news/articles/ ... et-tremble
Wednesss day...
Stockmarket stuff.....
https://marketchess.com/2015/05/06/stock-market-recap-05-06-15-video-1
Thursday...
http://www.bloombergview.com/articles/2 ... e-autobahn
Jes' Annuder Ol' Broked Down Retahrd Union Pipefitter And His 401 Defined Contribution Plan.... Easter Special
Thursday, April 2, 2015, 03:33 PM
Unsustainable things can last years, even decades, longer than people think.
-- Morgan Housel
IF YOUR A FIRST TIMER TO THE BLOG, CLICK HERE...
http://joefacer.com/pblog/static.php?pa ... 729-141334
http://www.theatlantic.com/internationa ... ts/388883/
Here's yer pichur, here's yer 1000 words...
http://forward.com/articles/217842/how- ... ddle-east/
One of my brothers is gay and I long since came to terms with it (30-40 years ago). Hatred and discrimination don't belong to be at Thanksgiving or Christmas.... or the other 363 days of the year either....
http://www.cbssports.com/collegebasketb ... to-indiana
Interesting demonstration in terms of the video participants on the link. Think tide of history and Penn's point on history moving on...
http://www.cnn.com/2015/04/02/opinions/ ... index.html
How the fundz inna 401 are doin'.....
How my account is doin'.....
Big Cap US stocks.... Which is to say international and dollar exposure...
Smaller Cap Stocks.... Think domestic markets, cheap energy, earnings in dollars....
Fundz inna 401 referenced to S&P 500. Note the AM Fundz Admiral button and red zero line...
Big caps look toasted. Expect me to rebalance fundz over the next week...
Monday....
In the long run, we're ALL dead.
http://peakoilbarrel.com/the-competitiv ... principle/
So as a long hair liberal graduate of UC Berserkley, there are a lot of lefties who make my brain hurt to listen to them. But they are trying to go to where we can't go. At least not now. But what disturbs me is the righties who want to go back to where they imagine we used to be without realizing that we are not there any longer because it became untenable. Fires don't burn backwards and cement doesn't turn back into water and dry powder and then climb back inna bag no matter how much you may want it to. Neither do you speed up/reverse history for convenience...
Kinda peripheral 401 stuff. Your fund advisor's first obligation is to his wife and kids. That obligates him to earn. His obligation to you is to do well for you/not screw you up so badly that you no longer produce income. It's OK not to come first. It's not OK to come last...
http://thereformedbroker.com/2015/04/06 ... lesperson/
Tues...
Gotta have a crap filter if you run your 401...
http://www.bloombergview.com/articles/2 ... c-analysis
Wed....
it's a SERIOUSLY convoluted world...
http://www.businessinsider.com/heres-wh ... ran-2015-4
Thursday....
Gotta recognize the new reality, bummer or not...
http://www.bloomberg.com/news/articles/ ... a-s-future
http://www.pragcap.com/why-rand-pauls-b ... cessionary
Jes' Annuder Ol' Broked Down Retahrd Union Pipefitter And His 401 Defined Contribution Plan....
Saturday, March 7, 2015, 01:31 PM
There is no reason to feel any shame in hiring someone to pick stocks or mutual funds for you. But there’s one responsibility that you must never delegate. You, and no one but you, must investigate whether an adviser is trustworthy and charges reasonable fees.
-- Benjamin Graham
http://stanmed.stanford.edu/2015spring/before-i-go.html
YOU ARE BEING PLAYED...AND THE WORST PART OF
IT IS, WHAT'S BEING STOLEN FROM YOU, YOUR FUTURE,
IS BEING PISSED AWAY, NOT EVEN BENEFITING THE THIEVES.
BUT ONCE YOU UNDERSTAND THE EASY 1,2,3 LESSONS OF UNIVERSAL SUCCESS...
For the most part, clickbait (ten things they don't want you.. The One Secret... Once I learned the One Secret that they) drives me uppa wall. But, Hell THIS is Important...
Jes' Annuder Ol' Broked Down Retahrd Union Pipefitter And His 401 Defined Contribution Plan....
Friday, January 16, 2015, 02:31 PM
"To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate."
~Jesse Livermore
Democracy means equality. Which means know nothing, faith (fantasy) based delusions have just as much standing as the scientific communities accepted beliefs. Until the numbers favor one position or the other... So check out what I found on that hippie dippy pinko left wing publication, Bloomberg...
http://www.bloomberg.com/graphics/2014- ... on-record/
When I was at Berkeley, the religious scholars used to come out at lunch time and torment the holy roller saving souls at Sproul Plaza, pointing out mistranslations, errors, and misunderstandings in his version of the good book.
Reality always trumps faith. The time element can be frustrating, though.
Jes' Annuder Ol' Broked Down Retahrd Union Pipefitter And His 401 Defined Contribution Plan....
Friday, January 9, 2015, 12:35 PM
Day-to-day, anecdotal impressions can matter in investing, like seeing all the Prius and hybrid cabs in Chicago and the alternative-fuel trucks in and around Chicago, and wondering, “how can this not impact crude oil demand at some point ?” Hence, we had zero weighting in Energy the last two years for clients.
-- Brian Gilmartin
Behind the curtain...
http://www.bloombergview.com/articles/2 ... sian-heart
And aren’t we all tired of those who claim to know the answer to life, death and the creation being so fucking sensitive about their knowledge? If I knew the answer to it all, if I thought I understood the wishes of the author of the universe and was privileged to understand what happens to us after death, the last thing I would be is all prickly and defensive. ‘Mock me all you like,’ I’d cry. ‘Go on, laugh your socks off, paint crude daubs, make mocking films. They pass me by as the idle wind which I respect not.’
Stephen Fry
http://thereformedbroker.com/2015/01/11 ... dle-class/
http://www.project-syndicate.org/commen ... tz-2015-01
http://pragcap.com/public-payrolls-stil ... employment
http://vimeo.com/116485717
http://dashofinsight.com/weighing-week- ... nd-market/
Monday...
http://www.bloombergview.com/articles/2 ... -price-war
Leaked From AlJazeera...
http://www.businessinsider.com/leaked-a ... bdo-2015-1
http://www.psmag.com/navigation/health- ... ots-92793/
Tuesday....
http://www.businessinsider.com/what-oba ... ris-2015-1
First Ya Gotta Get A Buncha People To Agree...
This is a chart of many of the funds available to my 401...
This is the same chart, but referenced against the Lord Abbett fund. I'm out the LA Fund until further notice. I still believe that Europe will have to and eventually will enact a QE program and stocks will launch upward. But looking at the last 5 months, I'm leaning toward getting outa the way and waiting to actually see something. I'll give away already being there when it happens to avoid standing there in the cold rain and snow. waiting for it to happen. Stay tooned.
Wednesday...
Fuck Congress...
http://www.maliceforall.com/2015/01/the ... r-economy/
Thursday...
http://vimeo.com/116909650
Jes' Annuder Ol' Broked Down Retahrd Union Pipefitter And His 401 Defined Contribution Plan....
Thursday, January 1, 2015, 01:24 PM
“By far the biggest problem for professionals in investing is dealing with career and business risk: protecting your own job as an agent. The second curse of professional investing is over-management caused by the need to be seen to be busy, to be earning your keep. The individual is far better-positioned to wait patiently for the right pitch while paying no regard to what others are doing, which is almost impossible for professionals.”
- Jeremy Grantham
New Years morning and I'm about half way through my pitcher of Mimosas after breakfast. (Straight gin onna rocks last night, this is my way of getting vitamin C this morning. Being retired allows me to pursue my hobbies...) Reading about Walschaerts valve gear. I'm a gear head. Pretty much have been since 8 yrs old.
http://en.wikipedia.org/wiki/Walschaerts_valve_gear
This is what put the "Choo" in "Choo Choo"....
Worth the time... If ya got the time....
http://www.businessweek.com/features/20 ... ousy-list/
I got no use for the Dead and their nonprofessional antics.... but when they were on, they were awesome....
https://www.youtube.com/watch?v=C9AQiF5fFFI&feature=em-subs_digest
I may do some gear changing and re-arranging of the 401. Based in part on this. (The thesis and the individual{Grundlatch} are recognized by the guys whom I pay to run my retirement money...)
http://www.businessinsider.com/gundlach ... ast-2015-1
As per above, this Sat, I'm outa the Lord Abbett Small Cap Fund and outa the Met Life Stable Value Fund Monday. The money will go into the American Bond Fund. The bond fund's return is well ahead of the Stable value fund and will continue to do better. The LRSYX fund will be under pressure from redemptions which will screw with investment strategy. Best to be clear while this works itself out. Staying put elsewhere.
http://www.businessinsider.com/polands- ... ack-2015-1
Sunday...
http://theirrelevantinvestor.tumblr.com ... t-strategy
Your politicians and mine at work....
http://www.bloomberg.com/politics/artic ... om-reality
Wednesday...
Pop the hood and see what underlies the paint and chrome...
http://vimeo.com/116196983
Drive me UP THE FUCKIN" WALL!!!!!
http://www.salon.com/2014/12/21/why_so_ ... s_partner/
Thursday...
Ya don't get to choose the world you live in... I grew up when part of being a good citizen was being prepared for imminent thermonuclear war (food in the house, always keep the car at least half full of gas to evacuate to the mountains if necessary, CD {Civilian Defense} symbols on every AM radio in every car...) This is this era's version.
http://www.businessinsider.com/europe-i ... ege-2015-1
Slow Motion Trainwreck.... Reagan is still dead and trickle down doesn't mean what they told you it did....
http://www.motherjones.com/politics/201 ... ts-failing
More Unner Da Hood....
http://vimeo.com/116290225
 ( 2.9 / 1052 )
Jes' Annuder Ol' Broked Down Retahrd Union Pipefitter And His 401 Defined Contribution Plan....
Friday, December 26, 2014, 01:01 PM
“You can’t develop a portfolio strategy around endless possibilities. You wouldn’t even get out of bed if you considered everything that could possibly happen….. you can use history as one tool for shaping reasonable probabilities. Then, you look at the world of economic, sentiment and political drivers to determine what’s most likely to happen—while always knowing you can be and will be wrong a lot.”
- Ken Fisher
Friday...
http://pragcap.com/three-things-i-think ... ed-in-2014
Saturday
Coupla three four things here.... It's been a busy year for me for all the wrong reasons. There have been health issues in the family and this is in part why I've spun off the bulk of my retirement funds to some pro's; so I could look away if I had to or wanted to. I have mostly looked away from those accounts and that is all right... as long as I still keep an eye on them in some measure. I'm still an active trader and that account absorbs a fair amount of my time. The result has been less time spent on my 401 than usual since it is now a small portion of my retirement funds. But that has resulted in my being slow to move on two outstanding issues in the account; the American Funds EuroPac and Lord Abbot small cap funds.
Overseas has pretty much lagged domestic big time and the American Funds are huge funds that have a lot of money to place. It is hard for them to invest in small pockets of value in down markets. They have lagged the domestic funds and despite having lightened up there, I probably should have lighter there than I was. One of the three funds in the small/mid cap area has been awful. The other two have been fine. Again, I would have liked to have been lighter faster there than I was. It cost me some gains. I'd rather have been in the other stock funds, but even the bond mutual funds, which were supposed to be horrible this year but weren't, would have been a better place to be than the two poorly performing stock funds... The Stable Value fund has been a worse place to be than the bond funds. Not tracking reality vs expections cost me some performance here when I sought safety at various times this year. Lesson noted...
This is a new year and time to change some things. This year, I'm going to keep a closer watch on the 401 funds.
At some point, there will be a serious market correction. It'll sting. But you can ride out corrections. What you don't want to ride out are bear markets. I expect the first but not the second. For now, I'm staying heavy in stocks.
At some point in the future, Europe will have to do a QE like we did. It will get exceedingly ugly politically and that may make it ineffectual and delay the recovery and protract it way beyond the time it should have taken. But if it works like it did here, the stock market will lead big time whatever recovery they do have, so I'm staying equal weighted in the American EuroPac funds for now.
At some point the yelling that is undoubtedly taking place at Lord Abbett will have an effect and the fund will start to perform again. I can't hurt the fund's feelings by ignoring it, and they will not make up the losses out of their pocket, but performance is performance. So I got a small portion of my portfolio in a "tracking position". At some point I'll boost that up into a full position.
Or not. I will keep a closer eye on this portfolio and work it harder...
For now..... Stay Tooned....
Fewer things to feel comfortable about...
http://www.stratfor.com/weekly/end-cons ... z3MeJSHaqC
http://www.businessinsider.com/russia-i ... it-2014-12
Think about the Olympics. There is no mystery in running, jumping, diving, gymnastics, etc. Everyone knows what perfection looks like. It's just basics. And the very best competitors in the world get the very best coaches in the world to work incessently with them on basics as long as they hope to excell.....
http://www.ritholtz.com/blog/2014/12/th ... investing/
http://thereformedbroker.com/2014/12/27 ... one-loves/
http://priceonomics.com/stepping-off-th ... te-bridge/
Sunday...
Sounds like a union to me.....
http://www.nytimes.com/2014/04/25/busin ... .html?_r=1
World War Two brought my mom to San Francisco from Colorado because there were jobs here. Four brothers, including my dad, chose California as the final destination when they were discharged from the armed forces post WW II and gravitated to the Bay Area instead of going back to Utah... That's how I came to be a San Franciscan.
http://techcrunch.com/2014/04/14/sf-housing/
Long but worth the read.... If you've got 20 hours...
http://www.businessweek.com/features/20 ... ousy-list/
http://www.businessinsider.com/illinois ... is-2014-12
http://vimeo.com/115525761
http://www.calculatedriskblog.com/2014/ ... es_28.html
Monday...
http://thereformedbroker.com/2014/12/29/buy-europe/
Tuesday...
http://www.ritholtz.com/blog/2014/12/oi ... bad-spain/
Jes' Anudder Ol' Broked Down Retahrd Pipefitter....
Friday, November 21, 2014, 01:24 PM
“No man ever steps in the same river twice, for it’s not the same river, and he’s not the same man.”
-- Heraclitus
Moby Grape did not survive survive the era.There were 100 chewed up and spit out for every success in the late 60's...
https://www.youtube.com/watch?v=c_FlNwQlBmU
But ya can find remnants that will lift your soul when you least expect it...
https://www.youtube.com/watch?v=UNqPwL2jbhU
I wuz drunk the day my Mom got outa prizen
I wuz lookin' out da winnow at da raaaiin....
But before ah could get to da station in mah pickup truck,
She got run over by a damned ol' traaaiinn.
Nah, I'm sober, but my Mom is dead and it IS raining outside da winnow as I write this....
It was on my 21st birthday that I bought my first bike. That happened to be the start of the rainy season and the start of a particularly bitter Winter. That year we had snow and four straight days in the low 30's and below freezing early evening until mid morning in SF. I thought bike wear was a leather jacket and will power. It was not until April that I discovered that riding longer than 15 minutes was not an extreme test of endurance. The rainy day and the polar vortex of this Winter makes me think about riding. And about my plan to buy the fastest street legal BMW, Kawi or Aprilia Superbike (200 Hp) money could buy to celebrate my retirement and my new knees. But the surgery didn't go like I hoped. So, instead of buying runnin' shoes, I'm buying an old man's walker... Arranged shipping today. Bummer.
https://www.youtube.com/watch?v=shCQpp95uhw
I still want a well set up Aprilia.... https://www.youtube.com/watch?v=pg9N6YVrzQI
The hair on my eyeballs stands on end when I hear a very serious bike give that bad girl howl...
https://www.youtube.com/watch?v=VBIca9548Uw
https://www.youtube.com/watch?v=IFwS_CQHjqk
http://www.sportrider.com/sportbikes/vi ... YHj3qP-DES
http://thereformedbroker.com/2014/11/21 ... r-clients/
http://pragcap.com/3-no-brainer-policie ... -implement
The Kinda Things I Track For the 401...
www.marketchess.com/2014/11/23/weekend-market-film-session-112314-video/
http://dashofinsight.com/weighing-week- ... mment-7712
Monday...
I Always Said,"It's Not Like Ya Can Go Broke Selling Alcohol Or Sex"...
This is scary....
http://www.businessinsider.com/many-mil ... er-2014-11
Holy Fuck!!!?!?!!
http://www.bloomberg.com/news/2014-11-2 ... asino.html
http://time.com/money/3600211/gao-repor ... tt-romney/
http://awealthofcommonsense.com/win-argument-market/
"But I'm too late to invest after the rise/What if right after I put my money in, it goes down?"
Here's a list of reasons;
http://www.rbadvisors.com/images/pdfs/t ... scared.pdf
Here's the solution; There's always reasons. Do what you think is right and if it turns out to have been wrong, stop doing it.
Protect your capital from both types of losses; Big All Of A Sudden Losses like being in the wrong place at the wrong time, and gradual persisent small losses like bing in cash or something that doesn't keep up with inflation. Both kinds of losses get you to the same place eventually.
Tuesday...
http://marketchess.com/2014/11/25/late- ... tuesday-2/
Almost indescribably French...
http://www.businessinsider.com/this-ves ... ks-2014-11
I've already had a month of
EARLY BLACK FRIDAY WEEK
LIMITED TIME ONCE IN A LIFE TIME
SUPER ULTRA LOW
PRE-HOLIDAY HOLIDAY PRICES!!!!!!
Bloomfield/Butterfield... Didja hear about the time I saw the Butterfield show from about 10 feet eye to eye?
Wednesday, November 12, 2014, 08:26 PM
Free Your Mind...Your Ass Will Follow.
-- George Clinton
Onna counta cuz....
https://www.youtube.com/watch?v=Ps3x-_JdIeg
and w/o
https://www.youtube.com/watch?v=nNkNuVRhkks
This week's Joe...
https://s3.amazonaws.com/pickup-radio/audio/cream-rises-to-the-top.mp3
http://jbonamassa.com/features/2014/bon ... 20magazine
Some of the Bay Area unions locals have recently had a close encounter of the IRS kind... The locals structured their 401 plans as per consultations w/ the IRS and it was good. Until it wasn't. Whether the IRS felt that they needed to be working on something big during the duration of the financial crash, or there was a regime change and a new outlook, or it just happened, we had an extended period where allocation adjustments were not allowed while the IRS reviewed, ruminated, and reflected... So this week we finally started to emerge from that. We reorganized our 401a to the IRS's approval (again) and set in place the new mandatory contribution plus the allowable levels of voluntary contribution. Functionally, there is little difference; the changes as viewed from the participants point of view are minor. I spoke on the floor much as I speak here in my blog, mostly this time about the mandatory level of contribution... But...
There's more to be said and I gotta think about what and how. You gotta click on "If yer a newcomer to the blog" to get started. But watch this space for what comes next...
It is work to do the blog, but I've been writing so long about High End Hi Fi and then Motorcycles and Money, that it is part of my nature. Then a friend and co-worker dropped by at the last union meeting and mentioned that because he was following me back in 2008 and because I'd gone to 95% cash in the 401, he wrestled with it a coupla weeks and then followed me into the GIC. And a month later, the bottom dropped out of the market and he saved himself big time. Made My Day.
Monday...
http://www.businessinsider.com/kotok-sp ... 20-2014-11
http://vimeo.com/112107487
Tuesday...
Little by Little...
http://www.businessinsider.com/john-thu ... ge-2014-11
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