have a nice trip Greg. :thumbsup:

I never thought I'd live to see the day when a VOTE in Greece would/could/does affect MY investments. But that's the world we live in today. Go figure....

I hope they get it right.

But regardless of these types of macro events. Bond interest will still be collected and dividends will still keep rolling in... and that's what I want the "newbs" to be focused on. While these events do 'matter' they don't really matter in the long run (3/5/10 years).

In the meantime - The L A Roadsters Show here in Pomona has just been fantastic! The weather amazing! The people have been even better... The key is that you have to have a roadster... otherwise you park out in the back 40. :woot:

BP have and are going through major changes - something other oil and service companies will eventually catch up with. THe Macondo accident was a Major screw up by several companies, and was a tragedy much like the Piper Alfa.

BP is not British Petroleum and hasn't been for many many years, its just plan old BP - the issues started when BP acquired AMCO and AMACO (Both american companies, worst move that BP ever made) 48 odd % is American owned. It should also be noted that all the Managers, Engineers etc involved in the bad decisions resulting in the accident were also American, both BP Halliburton and Transocean.

I am not British I am just sick of it being blamed on them. Take a look at Chevron and how they hide their screw ups.

I bought BP shares after the incident and have made some good coin, have a look at their previous exploration and development success and its easy money.

Sorry for the rant, its just that I work in the Industry and some things get under my skin. Flame suit on :)

Bp
 

I only base my investing decisions on solid facts - historical performance of the STOCK -- not the company etc. Take the "I like this brand and not that brand" out of it and just look and compare the STOCK... in that light, BP sucks... irregardless of their latest debacle.

Hey Mike?! Did you get that new house/mansion you wanted??

Greg..

I pulled out of the offer...My Wife is not happy..

It is a short sale and when I went to see it, all I saw was dollar signs.. It is in bad shape...The realtor is using old photos to show it, of when it was in excellent shape.

It needs so much work, I just could not see putting an unknown amount of money into it.. I mean like 100K or more..I could have , but at my age, and with my Health, do I really want to ?.

The pictures they show on line are of it in perfect shape.. It is in distress..And I am not up for that much check writing..Something inside me said it was not a money maker, but a money taker..

And once you buy it, you are in for the whole ride...No thanks...

So, no happy Wife or happy Life right now, but I have to go with my gut feeling when it comes to money..My Wife runs on emotion, and I run on not going broke..

So it is a little tense around my house, but I know I did the right thing..Who am I out to impress ? Her family ? No way...I am protecting my wealth and not flaunting it...

My friend knows the property, and says it is a gross display of wealth, when it is in great shape. But it needs so much work, I cannot imagine what it would take to redo it to my standards...100K ? 150K ?

And to be honest, it seems like a house for someone with several million dollars or more in Net worth...Not a guy like me..

I put up the avatar for the last time. It does not look like this anymore..Imagine a property like that in total distress..50K gallon pool need re plastering, all the large palm trees dying. The interior needs work everywhere. exterior painting, the indoor fire sprinklers have leaks, All the landscaping is dead..The avatar picture is not what it looks like now....I gotta pass on this one...My gut tells me to, even if I crushed my Wife's dreams.

Mike..:cheers:

Good for you Mike... scenario sounds familiar to my recent one of walking away from a headache inducing large house. :thumbsup:

Thanks...The Wife is not happy, but the property was Gigantic, and even in great shape, it was too much property and house. In Bad shape, it was a nightmare. Sure a great party house, but I would be too stressed out.

She said it was a great Investment...I don't think it was...More of a Money Pit..

Plus we would have had to cash out some Investments to fix it up...That sounds foolish to do..Plus I would be taking on more debt.. Sounds like a double negative..

So, I will let things settle..She shed some tears, but better than me losing the grip I have on my Financial Life.. :cheers: :thumbsup:

Good choices Mike --- too many people get caught up in the "I have to prove I can do it" and don't have the guts to back out of something when they see it's not right -- so kudos to you!

And you're right about the double negative! That's another thing people don't look at often enough!

I have three or four people I know that were living really large -- like they had unlimited money -- 12 million dollar house <gone now> -- another one that the dickheads wife thought she was rich and spent 7 million building a house they never could even move in before it was gone... another guy is now RENTING because he thought he was rich and living large... Once the capital is pissed away - these people just aren't that smart. They got lucky once and that was that...

Another guy - David Bingham (you can Google him) http://www.bizjournals.com/seattle/s....html?page=all blew thru 200 million... they repo'd the 85 foot yacht - the Bentley - his kids 10 million dollar house and his mother in laws car! He THOUGHT he was brilliant so he bet the farm, and more, making mezzanine loans in the fast lane of big real estate... charging exorbitant fees and borrowing from the banks at low rates to lend even more... ALL GONE.... POOF!

Greg.

First, thanks for asking about the house. You remembered and thought to ask about it, that means a lot.:thumbsup:

Second, yes I had to look my Wife in the eyes and make her cry..You know how tough that was, but I have to follow my Brain, and my Guts.

Had I caved into her desires, I know it would be the worst move of my Life..
I would have made her happy but I know it would have bankrupt us, or at least made us very uncomfortable Financially.. For what ? To show her family that we are big Players ? She wanted me to have a resort/Home that had everything.Watersports/Lake, Large Pool, Putting Greens, ect...

But if I thought it was Financially sound, I would have done it.. I am not rich. I am financially healthy, not wealthy..Not wealthy at all..

And I talk about having Investments, and only a Home loan . But this move would be the double negative...Pulling Invested money and taking on an additional 250K of mortgage... No thanks..

Thanks for chiming in, I knew i did the right thing, but hearing it from you and others ,just makes me know I am thinking straight..

The Wife is getting over it slowly, and it will all work itself out..Had I not pulled the offer, i would be one of the fools you mentioned..On a smaller scale, but a fool is a fool.Whether it is one million, or two hundred million...Broke is broke...And i don't plan to go that route.

Someone told me once that if you don't know better, then it is a mistake. But if you knew better and still did it, you are truly a fool..:lateral: :cheers:

EDIT: I read the Bingham piece.. I always told my Wife about Hard Money and Leveraging..That I would NEVER leverage our money to try to triple it.. The banks will always lend it, and someone will always need to borrow it, but that is NOT how to Invest, in my book...Too much can go wrong, and Poof....It is all gone...I am more a Simple man, and steady as she goes...Investing and no greedy speculation..