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Are You Putting Yourself First?
Woke up early this morning. Absolutely beautiful, crisp, sunny day here in Montreal. The excessive heat dissipated and I took advantage to head over to my favorite cafe on Bernard for breakfast, read the paper and just relax and enjoy this awesome weather. I also read my horoscope on my Blackberry:
When you wake up this morning, or as you go about your day, you hold in your grasp the chance to make it whatever you want it to be. Will it be positive and uplifting, with many happy thoughts, pleasant exchanges with the people you meet, and the positive pursuit of your goals? Or, will you anticipate an unhappy ambience, conflicts at home or at work, and a failure or two? It's up to you. But here's a hint: If you wish to have a really great day, the kind of day the stars are encouraging you to have, then you will choose the first option. It really is a choice.
I already chose the first option and so far the day started off on the right note. I enjoy my alone time. Most men and women would never go eat alone. Not me, I love it. Some poor guy next to me had his wife nagging him about fixing stuff around the house. At one point, it was too much, so I gave her an evil stare and felt like saying "can you please shut up and leave the poor man alone to enjoy his breakfast and this beautiful weather!"
The theme of my blog this Sunday is simple: putting yourself first! What do I mean by that? Well, I've been doing some soul searching and with the help of my psychologist who I recently started seeing once a week, realize that I spend an inordinate amount of time in my life worrying about people who don't deserve one minute of my thoughts.
I also realize that the best investments I made this past year are not Chinese solars (lol, now is a good time to scoop up some LDK solar), but on on myself: Lasik eye surgery to correct my myopia and free myself from contact lenses, CCSVI procedure to help with my MS, joining a gym when I turned 40 and working out religiously, and going to see a psychologist to chat about my inner rage and how its impacting my personal and professional relationships.
I did that because I realize that I'm intense, often confrontational, will push people to the max, back down from nobody, and it has turned people away. I'm like that because I expect a lot from myself and expect the same from others, especially if they're close to me. However, I'm learning to take a step back and realize that others are dealing with their own issues in life. My humble father, a psychiatrist with over 40 years of clinical experience tells me all the time, everyone has issues they're dealing with, from the hard laborer to the CEO of a major corporation. He should know, he treats patients from all walks of life for all sorts of mental illnesses.
I recently went to see a French Canadian physiotherapist. This lady is simply incredible, spending over an hour with me going over everything related to the mechanics of my gait, my bad posture, and giving me specific exercises to do to improve my posture and target the weaker muscles in my right leg. She also showed me how to use a roll to relieve upper back spams and how I should sit properly and get up often from the computer to stretch and open up. I told her most physios I've seen in the past were absolutely useless but she really helped me and I will continue seeing her. You can tell someone is good when they're booked solid months in advance; I got in on a cancellation list.
The other thing I've been investing my time in lately is trading stocks (absolutely love it), meeting people who contact me from my blog, and helping Montreal hedge fund managers raise assets. I'm also swimming, tanning and just enjoying the beautiful summer, which is what everyone should be doing this time of year instead of being cooped up in an office in front of a computer. Remember this: work is a four letter word so enjoy leisure every chance you get.
Enough about me, let's talk about you. How healthy are you physically, mentally, emotionally and financially? If either one of these areas is not going well, don't sit and sulk about it, do something about it. Take action, make a game plan and stick to it. Baby steps at first and then start walking, jogging and running towards your goals.
Take it from a guy who has had MS for the last 14 years, Nietzsche was right: what doesn't kill you, makes you stronger. I've been fired a few times (all on flimsy grounds where I could have sued their pants off), been through a divorce, ups and downs on the health front and with personal and professional relationships, but I now realize there is absolutely nothing you can't do if you put your mind to it. Suck it up, don't let your ego get in the way, and simply focus on short-term, medium-term and long-term goals. Surround yourself with people you trust and can confide in, knowing they'll give you wise advice and get rid of anyone who is a negative drag on your energy. I mean it, "bye-bye, don't need or want you" to negative people or slimy weasels, that should be your motto as you forge ahead.
And there is something else, you can always improve on every facet of your life. I thought I knew it all on diet and MS, but I don't. One person wrote me on allergies and MS and how Caroline Myss's energy medicine helped him. Someone else emailed me urging me to try a gluten free diet, eliminating wheat products. A gluten free diet increases your energy and all patients suffering from autoimmune disorders should try it (casein in dairy can also be problematic if your intestines haven't fully healed from damage caused by gluten. Also, avoid sugar as much as possible and no smoking whatsoever!). A doctor emailed me to get tested for Lyme disease, which can be chronic and mimic MS and other diseases. Another person wrote me about the benefits of Iyengar yoga for MS (link for Toronto and one for Montreal). A lady wrote me about the benefits of medicinal biomagnetism (don't know anything about it and am somewhat skeptical).
And then there was a wonderful lady suffering from COPD, irreversible lung damage, who sent me an Earth Clinic link to holistic treatments for MS. She also sent me James Altucher's article on how to deal with crappy people and shared these thoughts with me after I posted on the real unemployment scandal focusing on the scourge of discrimination against disabled people in the workforce:
Hi Leo, I appreciated your thoughts about discrimination, I am glad someone is willing to be an advocate for those who want to work. I've never told an employer about my COPD because at my US company, everyone I knew who publicly stated they had any kind of issue (bipolar, depression, eye cancer, brain cancer, degenerative eye disease) was laid off. Sure they called it a performance issue to avoid lawsuits. I actually heard a VP say they had to get rid of the guy with progressive eyesight degeneration, based purely on his health. That guy is Canadian, at least he had health care after that: the others were US based who knows whether they had access to care. I'm lucky, in my position heavy labor is not necessary, so I can hide my disability. Many others are not so lucky. Those who show no compassion may be healthy now, but will they be 10-20 years from now? Who will speak up for them when no one will employ them because of their health?
Nobody is speaking up for them, which is why I hammer away at this public policy issue. I think we should introduce laws forcing governments agencies, including Crown corporations, to publicly disclose what percentage of their employees have a disability at all levels of the organization.
The amount of bullshit I've personally been subjected to after disclosing I have MS is incredible (couldn't hide it at times when my limp was noticeable). It opened my eyes to how slimy, sneaky, and unscrupulous people can be. Right before I got fired from a major Crown corporation, I was promoted, warned them about the looming credit crisis, and they still fired me for "being too negative". The chief weasel met up with me after to tell me he gave me "plenty of opportunities," but this was all a lie, he was just covering his legal ass. Remember this, if they want you out, you're out. There are far too many unscrupulous, evil, insecure jerks with thin egos in finance and elsewhere. It's all about ego and they'll run you over as they manage their precious career.
But I have leverage over these insecure, slimy weasels. It's called Pension Pulse, and it's a blog that I'm damn proud of. Also enjoy contributing on Zero Hedge and get into it with some members who love to blast me. But while I can deal with my enemies, I'm most grateful for my family, friends and the many people who have helped me by sharing their thoughts on important pension issues. These people include senior pension fund managers who care about what's going on in the industry but cannot openly blog on certain topics because it's too sensitive or too political.
I leave you with some concluding thoughts on putting yourself first. I want people to take control of their emotional, physical, mental, and financial well being. Take baby steps, but do something every single day. Don't wait to win the lottery or for radical change to hit you. It'll never happen. Reevaluate all your relationships and make sure those closest to you are always by your side through thick and thin. Importantly, make sure you are listening to those who earned your trust and are looking after your best interests.
Finally, I was looking at a 5-year chart of ACME Packet (APKT) and then some of my stock recommendations from my January 2009 comment on post-deleveraging blues. I screwed up on the banks and REITS, but nailed some of them like Priceline (PCLN) and EMC (EMC). Go back to read my comments on spying on elite funds (Part 1 and Part 2) as well as a recent comment on whether phosphate will be Canada's new potash.
I'm mostly swing trading stocks but see tons of opportunities in all sectors. Right now, I am focusing on swing trading networking stocks like JDS Uniphase (JDSU) and Chinese solar stocks like LDK Solar (LDK), but hold core longs in Level Three (LVLT), Satcon Technologies (SATC), Emcore (EMKR), and Arianne Resources (DAN.V). There are many, many other stocks like BMC Software that could continue climbing higher. If you have any other ideas, please share them on Zero Hedge. Enjoy the rest of your weekend, and always remember to put yourself first!
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meditation and yoga really helps a lot
slimquick
yeah keeping yourself first for health is everyone's right and responisibility.
Lichi super fruit
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I personally like alternative energy stocks like NALFX, YGE, SPWRA, FSLR, etc.; heavy industry like CAT. CMI, JOYG, DE, etc. ; mining like USAGX, VPGMX, or direct investment. I figure that oil will be too expensive and alternatives should be in demand unless SHTF. Assuming currencies are worthless, other than physical gold / silver, mining stocks in metals should do well, bringing with them demand for heavy industrial equipment.
However, there's no telling whether keeping the money as cash is smarter than risking it in the impending downfall of the market.
Thanks Leo for your personal history and philosophy post. I too am looking after #1 so I can look after extended family and community.
I have a core portfolio in resource and mineral production stocks plus EMC and PH, but day trade (in 5k share size) scalping dimes and quarters and sometime dollars. I don't trust close stops so just watch until I am out of my positions. 2 to 10 trades per day, 10 to 17 trading days a month.
It has taken getting burned too many times by not getting out of my position when it hit my 'mental' stops. But now I have the mental discipline to take the losses when the expected move doesn't occur.
I like high volitility days, but only day trade the things I am willing to have a core position in -- except for the general market ETFs (SPY, SDS, FXI, etc.)
Been at this three years seriously now and experienced annulized returns of 13%, 29% and 55% respectively on funds invested (less basically 6% cost of margin funds used). Have moved monthly net day trading return targets up from 10k, to 15k to now 20k per month.
These next few weeks look to be very exciting.
Leo - good insights. We can't be useful to others, unless we are whole, mentally, emotionally and physically. You might try, but it will take its toll on you. Just before the recession started (late 07), I made big changes to my life to improve the healthfulness. Still on the path, and still lots of work to be done. Good to see you've found a path of your own.
Thanks for posting this, I appreciate your time.
Thanks for posting this, I appreciate your time.
Really want to gamble with stocks? =) Play with Fannie Mae or Freddy Mac. Investing $640 (and $10 every other week) in My Scottrade account beginning 02/06/2009, and right now I am sitting at $9000.00.
The only thing I have done is bought and sold Fannie Mae in that timeline.
BUT, and this is a big BUT, the money that is in there is PURELY for gambling. If it all goes away, I dont care.
And one thing that most of the analysts of Fannie overlook is that Fannie is earning a 1/2% spread on 3 TRILLON dollars per year... And if they really wanted to they could pay back the loans to the government tomorrow (Take a look at their loss reserve levels and cash on hand sometime...)
But in the mean time, but i now at $0.33 per share, wait till their quarterly report comes out on ~08/05/2011, and if they dont show a profit, sell then for probably $0.45 per share... The buy it back 2 months later at ~$0.33 per share...
hey Leo
I have been at this point for some time...do I link some sites or keep to my self..
2 sites I will link.
http://kliguy38depression2news.blogspot.com/
http://fiatsfire.blogspot.com/
I made a lot of $$$ on kilguy38 site..
fiatsfire site gives me links to things I do not see..
paladin
A minor point for all those "gambling" and making directional (unhedged) bets in the capital markets. Grab a quick look at the SPY. You'll notice its at its resistence of around 1350. This in not the time to be buying! You buy when its near support around 1250. Do nothing right now-sit in cash and PMs.
And ask yourself are there more bad things that can happen in the future than good ones? Hedge Accordingly. But for entertainment purposes and since no one else put out a concrete idea for Leo here goes:
I'd buy the Jan 380 AAPL calls for a debit of $3800/contract while selling the Jan 420 calls for a credit of $1900, so net $1900 debit. I'd also sell the Jan 360 AAPL puts for a credit of $1650 while hedging by buying the Jan 320 Put for a debit of $700, so a net credit of around $900. The two legs of this condor will cost me $1000. If AAPL is above $420 by January (up ~8%) I make $3000/contract, while if the market crashes and AAPL is below $320 I lose $5000. If AAPL gets to $400, I break even. So, my return on risk is $3000/$5000= 60% for about 5 months. If your total capital (i.e. gambling funds) is $100K, risking 5% of it on this trade and keeping the rest in cash which gives you a portfolio return of 0.05*.6 = 3%/6 months or 6%/year Sounds lousy until the market crashes 20% or more and you still have $95K in liquid assets to buy from all the suckers who stay 100% invested long all the time! You lost $5K but in a 20% crash they lost $20K. This is the say real traders think: what's the worst outcome of this trade and can I live with the losses? Profits are usually due to "luck". Its all a zero sum game-a thoughly unproductive use of time and energy-just like a trip to Vegas.
So Leo if you must gamble on the future make sure you hedge your bets using the type of strategy I gave in great detail. (And I'd put on some bear condors (sell call credit spreads, buy put debit spreads) on say X, us steel, or C, citybank) at the same time and with the same amount of capital. Then let the fickle finger of fate do its magic.
We're all fooled by randomness-N. Taleb
A minor point for all those "gambling" and making directional (unhedged) bets in the capital markets. Grab a quick look at the SPY. You'll notice its at its resistence of around 1350. This in not the time to be buying! You buy when its near support around 1250. Do nothing right now-sit in cash and PMs.
And ask yourself are there more bad things that can happen in the future than good ones? Hedge Accordingly. But for entertainment purposes and since no one else put out a concrete idea for Leo here goes:
I'd buy the Jan 380 AAPL calls for a debit of $3800/contract while selling the Jan 420 calls for a credit of $1900, so net $1900 debit. I'd also sell the Jan 360 AAPL puts for a credit of $1650 while hedging by buying the Jan 320 Put for a debit of $700, so a net credit of around $900. The two legs of this condor will cost me $1000. If AAPL is above $420 by January (up ~8%) I make $3000/contract, while if the market crashes and AAPL is below $320 I lose $5000. If AAPL gets to $400, I break even. So, my return on risk is $3000/$5000= 60% for about 5 months. If your total capital (i.e. gambling funds) is $100K, risking 5% of it on this trade and keeping the rest in cash which gives you a portfolio return of 0.05*.6 = 3%/6 months or 6%/year Sounds lousy until the market crashes 20% or more and you still have $95K in liquid assets to buy from all the suckers who stay 100% invested long all the time! You lost $5K but in a 20% crash they lost $20K. This is the say real traders think: what's the worst outcome of this trade and can I live with the losses? Profits are usually due to "luck". Its all a zero sum game-a thoughly unproductive use of time and energy-just like a trip to Vegas.
So Leo if you must gamble on the future make sure you hedge your bets using the type of strategy I gave in great detail. (And I'd put on some bear condors (sell call credit spreads, buy put debit spreads) on say X, us steel, or C, citybank) at the same time and with the same amount of capital. Then let the fickle finger of fate do its magic.
We're all fooled by randomness-N. Taleb
I predict some interesting whip-sawing in the next month or few (and in the next week) that will be ideal for nimble swing traders in just about anything, but to me being nimble means spending about 10 hours a day at it, checking intl news before markets open, watching closely trade by trade all day, and making plans after the end of trading -- several for contingencies, since this crazy news-driven market can do anything at the drop of a press conference. I swing trade, rarely get a "day trade flag" but it's idiotic to worry about that if it's time to cut and run, or time to make the change.
I've always been a big believer in putting yourself first, in the sense that if you don't think you're your own best investment, you'd better figure out why not, and do something about that. It's led me to start and run a couple of successful businesses where most of the profits were re-invested to build up the business and make it even better. It's lead to homesteading in the boonies and an off the grid, nearly self-sufficient lifestyle -- augmented by using the "outside world" to get me things I want, but the things I need are here already - paid ahead. I don't use the putting yourself first metaphor to mean I don't like to help others -- if a man asks for my hat, I might hand him my coat too -- but I also recognize that if I'm not OK, I'm not going to be able to help anyone else much.
For the guy looking for charting stuff -- what I get with TD Ameritrade free is pretty decent, I use the old command center and have level II data too, all free, and it runs fine on linux (it's java). Anyone who uses windows to control life savings has more balls than I do; I was a systems level windows programmer for decades, so I know what lurks in there from ring 0 to ring 3 -- beware. I also use Market Club, not free, but maybe better charts for longer perspectives. Their trade triangles aren't that great in this type market (no one system is great in all markets) but decent, and they have some neat chart tools. There are probably better things out there, but these do it for me. As a programmer, I of course can do my own charting once I get the data to chart. MC has some of this, not great, still looking for an affordable data feed, or a way to "scrape" what comes in from TD (without too much work, I hate java and XML), as it's pretty good and about one second time resolution. Not good enough for HFT, but darn good for manual trading.
This is good time to be trading scared. Don't be in anything that isn't going your way, and fast, and jump back out as soon as anything turns against you - or even slows when going your way. In these twitcy markets, the time scales are all compressed a lot (which is why some plans for market timing suck just now -- they aren't flexible on that scale). This way, if for example something is found to be fraud -- like many think of SLV for example, you're likely to be "out" at the crucial moment when it all comes crashing down anyway. Shorter times of "at risk" equals less total risk.
Oddjob,
That' ok and acceptable; his outlook saw things where many of us failed. PM's are more than worthy as well as not just dismissing his effectiveness.
Twice a Day
If you put your ladle in boiling hot stew, do you still need an anti-microbial?
Leo, good positive ideology, read, topic and a pay-it-forward mindset.
Smiddy, yes, it is precarious in equities; have physical to a certain extent. However, Leo's suggestions provide opportunities to do due diligence for the forward looking.
The sharpest and most unselfish "equities" member was Spalding_Smailes, he certainly had the runners. Too bad he quit, I enjoyed his foresight. Should have taken advantage of his wisdom.
I'm certain discussions like Leo's suggestion easily bolt on to ZH's mission and vision.
Still can't figure out where the spellchecker is located.
What say you?
Twice a Day
Junk(49)
Sorry Spalding was very wrong on PM's.
"Nietzsche was right: what doesn't kill you, makes you stronger." = Half truth at best
I am hoping my comrades on this site can make a recommendation to me to obtain some reasonably priced charting software. I would like an easy-to-use system that allows use of candlesticks, fib levels, support, resistance, indicators, etc. I'd also like to be able to fully draw lines from various price points to enhance my understanding of technical analysis. Any suggestions would greatly be appreciated! Thanks!
Try Fx Pro, they have a lot, mainly FX, but most of the commodities and equity indexes as well. Not 100%, but 100% free... I use it on my small pc when travelling. Easy to use I think.
Thanks Muscletonian. I'll have a look...
Leo-Try fasting.
test
I screwed up on the banks and REITS........
oh ,.......ok........
Great stuff, Leo. Even those who fancy themselves as non-statist renegades should appreciate this one.
Buy physical and take possession if that helps you sleep better at night. But playing penny stocks is still fun!
Have a wonderful Sunday everyone.
lets hava a stock tip jam session, after the 2nd cliff dive for the stock market, this ones bloated on hopium gas.
A video says more than a 1000 words.
Sights and sounds of Montreal:
http://www.youtube.com/watch?v=KYD01tD18A8&feature=fvst
Sights and sounds of Montreal:
http://www.youtube.com/watch?v=N9TfOjZD2OE&feature=related
Update on CCSVI and my health: I am definitely 100% better than I was a year ago but it isn't a cure. I recommend CCSVI, gluten free Med diet, high dose vitamin D (at least 15,000 IUs), strength training at the gym (back and legs, back and legs...), physio, sleep, yoga, even try low dose naltrexone (LDN)...do whatever you have to do to beat this disease and trust me, you will beat it. I take no meds whatsoever and not scared of MS at all.
I read about LDN a few months back. I guess since Big Phama can't make billions on this treatment it will never be mainstream in the US. I used to contribute to the MS society, but they refuse to fund research that doesn't result in expensive patentable treatments with loads of side-effects.
Good on you, Leo.
Leo could you update how
your doing post-ccsvi? Montel
williams just had the procedure
in CA with Dr Oz and film
crew involved making a
documentary for the fall
on Opray Network.
I just did above. Cheers.
I agree that stocks are a ticking time bomb. When the big one hits, every algo in the world is going to sell at the same time. Your stops won't trigger as the market goes the equivalent of limit down in one nanosecond and then trading is suspended for the day on a 10% loss. Four or five days of that is enough to break a person. I'm not saying someone musn't trade, but I wouldn't put a majority of my money in the market right now, because it is like picking up dimes in front of a steamroller.
I like deep puts on 2X of existing stocks (-25% end of year) which aren't too expensive. Normal market corrections don't scare me, EOTWAWKI does. Keep a couple months worth of paper fiat if you have it. If the system freezes up you'll appreciate having it on hand. If it doesn't it's not like you lose much interest. Anyone got any suggestions on hedges for a liquidity freeze? Also how do I best monitor the onset of liquidity issues? Currently I check the 3 month LIBOR and LIBOR OIS spread daily but don't know enough to even know if this the right thing to do. Both are currently pretty stable.
You sir, are very high maintaince. No offense.
With that said, Stocks is not where you want to be. Go to fundenmentals in the Commodity. A little boring than Stocks but gives you time to think.
Buy silver, Leo.
Agreed Mr. At least buy some on pull backs along with gold. Actually like of some Leo's picks too. The theme of networking should work well into the future.
Agreed, the only stock one should have is that which is made from meaty beef bones, seasoned with thyme, black pepper, and bay leaf. Your ladle should be made of silver for its antimicrobial and anti-fiat properties.
+1 Yum!