Investing 102

[GregWeld]

Originally Posted by Tony_SS

Beware! The same thing was going on everywhere before the bubble.. IMO, thats a sure sign of one, where people drive up values in a frenzy.. they end up overvalued and crash down.. the PNW is a fad right now I believe.. a year from now it will crash, IMO.

Here in the midwest we have been stable, but declining still. We have not seen the bottom in housing, no way. But that won't stop new bubbles from forming elsewhere with these ultra low rates the Fed is holding.

I don't think you understand the economy here. We NEVER had high unemployment -- nor do we have the foreclosure issues elsewhere in the country.

It's hard to look outside the box if you're not somewhere that is not having the same issues. Employment and job opportunities are what drive housing higher or lower. Think DETROIT.... low pay - not a lot of opportunity.... versus "Silcon Valley".... high job growth - high pay - high housing prices - maybe 1 or 2% unemployment. Ditto Seattle. If you're a housing framer - you suck... if you are in high tech sales or a software engineer or programmer - you have multiple job offers at 100+ K per year and all the benefits you want.

The government may be busy bailing out Louisiana - but they've got nothing to do around here.

[Tony_SS]

Originally Posted by GregWeld

I don't think you understand the economy here. We NEVER had high unemployment -- nor do we have the foreclosure issues elsewhere in the country.

It's hard to look outside the box if you're not somewhere that is not having the same issues. Employment and job opportunities are what drive housing higher or lower. Think DETROIT.... low pay - not a lot of opportunity.... versus "Silcon Valley".... high job growth - high pay - high housing prices - maybe 1 or 2% unemployment. Ditto Seattle. If you're a housing framer - you suck... if you are in high tech sales or a software engineer or programmer - you have multiple job offers at 100+ K per year and all the benefits you want.

The government may be busy bailing out Louisiana - but they've got nothing to do around here.

So building and construction is not booming up there? I would think it would be if that economy is thriving....

I just get cautious when bidding wars happen on property.. it tends to start to snow ball into hype and overvaluation...

[GregWeld]

Originally Posted by Tony_SS

So building and construction is not booming up there? I would think it would be if that economy is thriving....

I just get cautious when bidding wars happen on property.. it tends to start to snow ball into hype and overvaluation...

OVER BUILDING is not happening here -- and if you want to buy a million dollar condo - you probably have a choice of 1000 or more of them in the Seattle and Bellevue area.

[toy71camaro]

know any one looking to pay seattle wages for telecommuter for Tech support/software techie stuff? lol

[GregWeld]

Originally Posted by toy71camaro

know any one looking to pay seattle wages for telecommuter for Tech support/software techie stuff? lol

Too late! We sold Isilon Systems in 2010..... to EMC.


I know nothing about nothing now.

[GregWeld]

Way back in the thread was some discussion regarding Exxon - Chevron - Conoco Phillips....

I bought Conoco after doing some research...


This is just some 'news' that could be of interest

ConocoPhillips (COP) won the approval from its board of directors to split its refinery arm, Phillips 66, in a move to further accelerate the value of both entities.

In July last year, the third biggest U.S. integrated oil company, following ExxonMobil Corporation (XOM) and Chevron Corporation (CVX), planned to separate its upstream oil and gas exploration and production unit from its downstream refining division into two stand-alone, publicly traded corporations. The move is expected to create the largest refining company in the U.S. (with a capacity of 2.4 million barrels per day) and the largest exploration and production (E&P) player based on oil and gas reserves.

Following the closure of market on April 30, 2012, the groups – with headquarters in Houston − will be alienated through a tax-free distribution of Phillips 66 shares to ConocoPhillips common stock holders. The shareholders of the E&P arm will receive one share of Phillips 66 common stock for every two shares of ConocoPhillips stock held at the close of business on April 16. The refinery unit will trade on the New York Stock Exchange under the symbol PSX. Prior to the distribution, Phillips 66 shares will trade under the symbol PSX WI in a "when-issued" public market.

[toy71camaro]

Good news, for you.

I ended up going with Chevron... down 4.5% now, but they'll turn around.

My curiosity sits at why you chose conoco out of the group? What did you see "different" than the others?


alternatively.. would news like this "spark" a purchase? since you are knowing its going to split in the near short term?

[Tony_SS]

Originally Posted by GregWeld

OVER BUILDING is not happening here -- and if you want to buy a million dollar condo - you probably have a choice of 1000 or more of them in the Seattle and Bellevue area.

Good to hear.. sounds like a case of short supply.. hopefully those sale values then are legitimate and not inflated.