Jon Stewart's show

Finally, I got the chance to see Jon Stewart and Alan Greenspan who had a appearance to promote his new book. I got lucky, I was sitting on the first row, about 7-8 feet from both men.

I had fun time there.

Subprime woe

At first, when the subprime woe started surfacing, a lot of financial guys kept saying it is not a big issue...Look what is happening now, the subprime is hurting everybody. I should have known that these guys are lying. In the financial market, money is everywhere. Any problem in the the entire chain of capital is impacting everybody.

Barron's & the real deal

I dont know why can Barron's look more like the real deal magazine...Rupert Murdoch, please fix Barron's.

Controlling co-op board

Politics is everywhere.

Recently we bought an co-op apartment in Queens. It is common that super will asked for money if you want renovate your apartment. The story usually goes like " You cant throw away cabinet or construction garbage. We need to pay those guys from department of sanitation when they come to pick up the garbage." That is all B.S. they just wanna pocket that $....

Because we know someone the the co-op board, the super didnt give us much headache -- I am sure he knows that we have some connection....

Now with about 10% controlling votes because we have friends and relatives own apartment units in the building, the chance of getting trouble is much much less....That is the power of in control. Much like our national politics.

Troubling Chinese stock market

Everyone in China is playing stocks now, every stock in China is going up. Under the surface, there is no solid and comprenhensive financial infrastructure (credit system and investment alternatives). It is gona crush, BIG TIME.

JET BLUE

As a New Yorker, I have a lot faith on Jetblue(JBLU) whose stock is reaching the 52-week low, here is the reason why:

1. JetBlue still has alot room to grow. Currently they are working the expansion on upstate NY airport - Stewart to ease congestion in New York air traffic.
2. JetBlue's routes are well picked - going to popular places for both business and pleasure. like the new route to San Fransisco.
3. JetBlue in-flight TV is very attractive
4. JetBlue customer services still better than many despite the Feb mistakes

I believe the current downturn provides a good BUY opportunity - thing will turn around in next few months.

Steve Wynn doesnt gamble

Last week while I was in Vegas for a conference, I got a chance to talk to a taxi driver. We were talking about Steve Wynn who were credited for spearheading the new spree of luxurious developments in Las Vegas. He latest development was the Wynn Las Vegas, which open on April 28, 2005. During the conversation, the taxi driver said "I am sure that Mr. Wynn does not gamble." That is true, a real businessman does not gamble because he couldnt control his bet....it is bad for business.

FYI, I consider Vegas as a place for shows, good buffet and architecture. Not a place for gambling. I rather bet on stock market or real estate with all my money.

Buy and Hold......NO MORE

Thanks to Internet and aggressive professional traders (especially those from hedge funds), the cycle of stock-holding is getting shorter and shorter. If you are serious about investment in stock market, you better keep a close eye on your portfolio. Unlike before where people could buy and hold a stock for a long period of time to see rewarding returns, these days only very few stocks can do that and you might be better off to buy and sell often.

negotiation in real estate transaction

last week, I went to see a property in Elmhurst, Queens with an experienced investor - Miss D. Right from the beginning when she met the agent, Miss D. slowly set things up to gain the bargaining power. She skillfully pointed out this is fix-upper property - allot work needs to be done. What she said was true that the agent had nothing to say but to agree.

One portion of the conversations I thought was brilliant and I like to share with you.

Miss D.: "how long has the property on the market?"
Agent(pause a bit): "about 3 months."
Miss D.:" oh......" then pause for few seconds.
Miss D. stroke again: "If I buy this property with the price you asked and sell it right the way, will I make any profit?"
Agent: "May be NOT. This is already market price."
Miss D. stopped and didn’t ask for any more question.

In here, Miss D. used very smart way to let the agent know the asking price is too high - that is why it has not been sold in more than 3 months.