October 15th: Ed’s Daily Portfolio Summary   16 comments

I decided to keep my UPRO position overnight. Although the indexes were down, they weren’t down enough to worry me, especially with the money printers still working overtime at the Fed.

GNW: -0.13 to $12.94 ( -0.99% , 38.10% overall)– bought at $9.37
IAU: 0.10 to $12.45 ( 0.81% , -4.89% overall)– bought at $13.09
MSFT: 0.04 to $34.49 ( 0.12% , 3.11% overall)– bought at $33.45
NDZ: -0.04 to $8.40 ( -0.47% , -2.89% overall)– bought at $8.65
NNVC: -0.11 to $4.95 ( -2.17% , 94.88% overall)– bought at $2.54
PVCT: -0.01 to $0.86 ( -1.15% , -17.31% overall)– bought at $1.04
SWHC: -0.03 to $11.12 ( -0.27% , 4.91% overall)– bought at $10.60
SYMC: -0.22 to $24.96 ( -0.87% , 0.97% overall)– bought at $24.72
TC: 0.01 to $3.19 ( 0.31% , -3.63% overall)– bought at $3.31
UNP: -0.95 to $156.31 ( -0.60% , 0.81% overall)– bought at $155.06
UPRO: -1.46 to $74.29 ( -1.93% , -1.93% overall)– bought at $75.75 today
YHOO: -0.62 to $33.38 ( -1.82% , 24.18% overall)– bought at $26.88

OVERALL: -0.56%


Posted October 15, 2013 by edmcgon in Open Thread, Portfolio

16 responses to “October 15th: Ed’s Daily Portfolio Summary

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  1. This is ridiculous!

    I am now voting for anyone who is not currently in office.

    . While I do believe the republican party is primarily to blame (don’t you people know how to handle a tea party bully?? or any bully for that matter. Just ignore them and get it done!!!). I’m from MN and while I really like Al Franken, Amy Klobachar (think I just killed the spelling of her name) and I even kind of like John Kline, I’m a firm believer in term limits and now is as good a time as never).

    Cross your fingers and say goodbye. Who’s up?

  2. OH man did my fat fingers screw that up.

    I am not voting for anyone who is currently in office

    • It’s ok Jeff. I’ve felt the way you do now for years. Sadly, until people start voting for third parties in large numbers, the two majors will never change.

  3. Seems to me the problem is that most politicians believe their job is to do what their constituents want. That would be ok if their constituents were well informed, reasonable, responsible people. Do any of us believe the majority of Americans are like this? Seems to me that most people get their facts from entertainment media where the shrillest & loudest voice is believed – or where only one point of view is presented. So what we get is the ignorant and uninformed electing people who will do what they want. Until we get politicians who believe their job is to study and become well informed AND THEN vote based on the facts flavored with their beliefs… well, until then we’ll get what we have now.

  4. I sold UPRO at $77.48, for a 4.29% increase today, but only a 2.28% profit overall.

  5. Doesn’t look like Congress will give up those subsidies for themselves…does anybody think that maybe a lawsuit could be filed???

  6. Oh, and last night, checked Blue Cross Blue Shield to see what my premiums would be since I’m paying $86 each month now. A whopping $166.08 for the luxury of being a retired employee with the State of Georgia…yuck!

    • Sorry… I just can’t keep my ‘mouth’ shut. And my apologies to kelsey55 – I aim none of this at him. Indeed – I wish I was as lucky as he!
      So… I wonder how many of the folks reading this blog know how much health care really costs. Two years ago I retired from Kodak. As most all of you know Kodak went chapter 11, so though I retired voluntarily I really didn’t have much of a choice. When I retired I was offered no company health care benefits. So I had to fund health care costs all by myself through COBRA. So now I pay nearly $1000 per month for 2 person coverage. And that’s for a high deductible plan where insurance doesn’t kick in until I spend $2500 in a year in health costs. So that’s about $26k per year. Now, I assume some of you do not know what COBRA is: essentially it allows you to be insured with a group of people and thereby through the miracle of statistics enjoy lower costs… except those on COBRA pay both the employee insurance premiums plus what the company used to kick in for the employee. Now the kicker is that if I wasn’t in COBRA, that is if I wasn’t able to be a part of Kodak’s pool of insured people, the cost would be over $2000 per month! Got that guys: over $24 grand a year. Think about that a moment and let that number sink in. None of us like to be preached to… me included. But when I hear some of you wail about the horror of ‘socialized health care’ or that the present health care system isn’t broken… I wonder if you really understand the situation. Sure, ObamaCare may well be turn out to be a fiasco initially. But at least those who crafted the bill had a clue as to the enormity of our health case situation & made a start at fixing it. The bill would certainly be much improved if those who spent their time trying to tear it down had simply put their efforts into improving it.

      • Howie,
        I have to throw in my own two cents. The problem is, and always has been, with using health insurance (regardless of public or private funding) as a third party paying system. A good example was once given by John Stossel: Imagine if we treated grocery stores like we do health care. Everyone with insurance would happily pay their deductible as they load up on filet mignon and lobsters. Eventually, the cost of the topnotch food would go up, but nobody would notice it, as they wouldn’t be paying the bills. They would just wonder why their grocery insurance gets more expensive every year.

        We need to return insurance to doing what it is supposed to do, and that is pay for emergencies. I think everyone would be surprised how little things will cost when healthcare providers no longer have to maintain large staffs to fight with insurance companies and the government for their payments.

      • Um… Yeah, I agree with that. And when people say that they can’t get a procedure because it isn’t allowed by their insurer what they are really saying that they don’t – or can’t – imagine footing the bill themselves. You can say that people need to take some responsibility.

        So your point is well taken – but it addresses the amount or quality of coverage. But that wasn’t what I was addressing. To say it succinctly: since pooling people together reduces costs – again, through the miracle of statistics – it would follow that the larger the pool the lower the costs. So it’s obvious that a nation wide system would result in lower costs for all. Lower total costs that is – not just what people see as a deduction on their pay stubs.

      • I think the actual bill for services should have to be posted to each person getting any kind of service, the 90% that get their health insurance through employers (or retirement systems of any kind) have no clue at what this costs as Howie points out.

        I’m very lucky to be able to get Kaiser in California, which is a not for profit organization, and I thankful to have it. I know that others pay a lot more for what I get and your $86 or even $166 for full coverage is only that low because you are paying only a small part of it, just like when you were employed.

        At 56 I pay $238 a month per person (the same amount for my wife, she is 56 too).
        This is for 5000/7500 insurance, with a $50 co pay. In other words except for preventive care (where I just pay the $50 for some things an $0 for others) I pay the full amount until I get to $5000. After $5000 I then pay a percentage like 30% (depends on the procedure), up to a maximum of $7500 (per person).

        In general even for healthy people like my wife and I you end up getting something that might take you to the doctor or such for fairly small stuff so I also plan on “normal” years for a few thousand to cover extra out of pocket expenses.

        Now i was thinking that I would go to the exchange and see what the Bronze package cost.
        Given that Kaiser provides it and that it is a 5000/6250 plan that is about a close of a comparison as you are going to get.

        Well this year I worked on some good contract jobs so my income is going to be over the $62,040 (at least that is the number in California) you need for a couple to get anything from the tax side. So what is the price? $527 per person.

        I don’t think anyone is going to the exchanges for bargains unless other tax payers are footing some of the bill.

        Now if someone could explain something to me I would be very grateful.
        The premise is that they want to attract young people into the system and that will make it cheaper for all (OK cheaper for the old people).
        Now 90% of people get their insurance from their employer, so they are already in the system and are not going to the exchanges, so they don’t count.

        So you are a young person, and can afford the cost, and pay it, well again they don’t count to reducing this cost for “all”. BTW $45,960 is the cutoff for a single person to get any kind of help paying.

        So now you are trying to attract young people that don’t fall into these categories.
        The only way it is cheaper for them, is if they get money to pay for it.
        Now if other tax payers are paying for part of their insurance to make if “affordable”, where is this “reducing of cost” coming from?

        To me it just looks like a shell game.

      • Just like pensions are a thing of the past, so too will company paid health care. I’m thinking the health care plan proponents just want to get their foot in the door – so to speak – so that some sort of plan is in place when its needed. I think the idea is to get any sort of plan in place and, through time, work out the kinks.

      • P.S. I didn’t make this statement clear “So you are a young person, and can afford the cost, and pay it, well again they don’t count “. The reason they don’t count is because they are already doing it. So even though they do bring down the cost, it is already factored in.

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