Sean Spicer Hits Back at Melissa McCarthy SNL Parody

Outgoing White House press secretary Sean Spicer has criticized the notorious parody of him by Saturday Night Live comedian Melissa McCarthy as “over the line.” “I think that there were parts of it that were funny, but there’s a lot of it that was over the line,” Spicer told Fox News’ Sean Hannity on Friday. Hours…

Your Face May Reveal If You’re Rich Or Broke

We all know first impressions are highly influential, despite being told not to judge a book by its cover. A person’s face can reveal a wealth of information ranging from their personality to their health. Now, researchers at the University of Toronto suggest social class can be accurately predicted by looking at someone’s neutral facial expression.…

More Selling

 

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A few weeks ago, 2 weeks to be precise, as I don’t write very much anymore, I did something that I had never done before.

That was to sell positions in order to raise cash.

The positions that I sold, weren’t in my usual “covered option” portfolio. They were all uncovered index funds that I had held for quite a while and had some nice long-term profits on them, as they just went along for a long market ride.

2 weeks ago on a day that the DJIA went about 144 points higher, I sold 50% of those accumulated shares.

I did so because I saw nothing to warrant the belief that we were heading even higher, at least not for a basket of stocks kind of portfolio.

Individual names, maybe. A basket? Not so much.

But, I did so with the intention of going back in with the cash to buy once again, although not all at once if the S&P 500 had retraced a mere 3% or so.

In those 2 weeks, the portfolio that held those index funds outperformed the S&P 500 by 0.5%, partly because the S&P 500 fell about 0.1% in that time period.

Yesterday, on the heels of a 130 point gain in the DJIA, I sold the remaining 50% of those index fund shares. read more

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America Is Still Great (for Some Things)

Don’t think about it too much. That’s my advice. Yes, as you read this, the federal government remains a hot tub gurgling a witch’s brew of dysfunction and malice. Yes, the president is still tweeting insults at television hosts while his administration works to perhaps suppress voters and leave tens of millions of people without health… read more

Someday Began Today

I’m a bit more rambling today than usual, but it was an unusual day after an eye opening weekend.

A few years ago, maybe about 5 years ago at this point, I wrote an article about a lower maintenance approach to hedging a portfolio.

It involved the use of a well diversified portfolio of about 10 names. They would, ideally, all be high and safe dividend paying companies.

The idea was to use LEAPS and try to stagger the expirations and then just sit back.

Sit back and collect dividends and add that income to the premiums from having sold the options.

For the LEAPS strategy I had also planned on using a strike price that would reflect a fair amount of capital; appreciation over the year or two. Say 7% a year? 10%? read more

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