American Airlines has just announced that it will begin charging passengers $15 to check in their baggage. I think a better system would be to charge by weight. You stand on the scale with all your baggage and pay a standard rate based on total weight and distance traveling.
According to Romesh Chander of Bellingham, WA, here are some ideas for
More ways that airlines can make money off passengers:
Toilet usage on the plane -- $5
Issung Ticket -- $5
Issuing Boarding Pass -- $5
Checking Boarding Pass at Gate -- $5
Piolts charge for flying plane -- $20
Copilot's charge for flying plane -- $15
Charge for leaving on time -- $5
Charge for arriving on time -- $5
Charge for arriving in correct city -- $5
Charge for arriving safely -- $5
Unscheduled stop -- $50
Bumpy ride -- $10
Lost luggage -- $10
Finding lost luggage -- $10
Clean plane -- $5
COMPLAINTS/questions (Any kind) -- $20
Fuel surcharge varies
Base ticket rate varies
Tip for Stewards $20% of final bill
Pension plan for executives $10% of final bill
Anybody got any other ideas?
Trading Lessons From Nicolas Darvas
Nicolas Darvas, who studied to be an economist, was an infamous stock trader during the fifties and sixties. He wrote a book called How I Made $2 Million in the Stock Market
that was widely discredited because the US attorney general said he actually didn't make that much money. The case was eventually dropped. Regardless of whether Darvis actually made as much money as he claimed, there was still some good trading tips that we can learn from him.
Darvis's Trading Lessons:
* There are no good or bad stocks. There are only stocks that rise in price and stocks that decline in price, and that price is based on the laws of supply and demand in the marketplace
* "You can never go broke taking a profit" is bad advice that will result in overtrading and cutting winners short. Selling winners and holding losers is to be avoided at all times
* There is a "follow-the-leader" style in the market. You will find success by selecting the most active and strongest industry group and trading its top leader
* The combination of price and increased volume is key to stock selection. Focus your time on new leaders emerging with a new market cycle
* It is the anticipation of growth rather than the growth itself that leads to great profits in growth stocks. "You have to find out what the public wants and go along with it. You can't fight the tape, or the public."
* One of the quickest ways to lose money in the market is to listen to others and all of their so-called expert opinions. To succeed, you must ignore all outside opinions and predictions. Follow your own strategy!
* Losses are tuition on Wall Street. Learn from them.
* You should expect to be wrong half of the time. Your goal is to lose as little as possible when you are. "I have no ego in the stock market. If I make a mistake I admit it immediately and get out fast. If you could play roulette with the assurance that whenever you bet $100 you could get out for $98 if you lost your bet, wouldn't you call that good odds?"
* Most of your big failures will come from three things: 1) when you abandon your rules, 2) you become overconfident, and 3) trade in despair when unsuccessful
* The best speculators search only for the very best opportunities. To be truly successful, you must wait for the right opportunities to present themselves and this often means doing nothing for long periods of time
* The market behaves the way it does due to participants behaving the way they do. No one knows what they will do until they actually do it
* Long-term investors are the real gamblers in the market due to their eternal hope that losing stocks will come back in price
* It is difficult to be profitable on the short side of the market versus the long side - trading in rising or bull markets will give you the best chance for success
* Most, if not all stocks, will follow the general trend of the market
* To train your emotions, write down the reasons for making every trade. When you lose, write down what you thought contributed to the loss. Then study and set new rules to avoid making those same mistakes
* Concentrate your trades. At the peak of his success, Darvas would hold only 5 to 8 stocks at one time which was in contrast to his earlier days when he was overtrading and would hold up to 30 stocks at a time
* Avoid fallen leaders. Overhead resistance will keep upside potential limited due to supply from previous buyers who had not cut short their losses. According to Darvas, the only sound reason for a stock is one that is rising in price. If that is not happening, then there is "no other reason worth considering."
* Darvas used his "box theory" to trade using boxes to time his entries (on breaking out to a new higher box) and exits (breaking below the current trading box). For more info on using Darvas boxes, visit these two websites: GerryCo & Sethi
* For new trades, Darvas used "pilot buys" which basically were starter positions in stocks he liked. Only if the stock continued to move higher would he then pyramid and increase his position. He learned never to buy more of a losing position
* He thought many unsuccessful investors made the mistake of looking at the same familiar names that might have worked well for them in the past instead of focusing on the next stock with the right elements for the new market cycle. "I am only in infant industries where earnings could double or triple. The biggest factor in stock prices is the lure of future earnings. The dream of the future is what excites people, not the reality."
* Perfection has no role in successful trading. No one can buy at the absolute lowest price and sell at the highest price. No time or effort should be devoted to that goal. "I never bought a stock at the low or sold one at the high in my life. I am satisfied to be along for most of the ride."
* Trade only when the environment is in your favor. Darvas' strategy kept him out of poor and bear markets because he wouldn't trade stocks that didn't fit his requirements which were only found in raging bull markets
* Be aggressive when warranted. Darvas believed in making aggressive trades when his system pointed to a great trade. In fact, sometimes 50% of his capital was devoted to just one stock
* While his trading approach was very technical, after studying the market's winners he understood the relevance of finding stocks also with good fundamentals. Namely, Darvas thought that earnings and the future estimate of increased earnings were very important
* Be a student of the market. Darvas learned by reading more than 200 books about speculators and the market and devoted studying the market for many hours a day. In fact, Gerald Loeb's books & approach served as key inspiration
* No one can completely master the market. After millions of dollars and best selling books, Darvas was still learning and tweaking his system until he passed away
that was widely discredited because the US attorney general said he actually didn't make that much money. The case was eventually dropped. Regardless of whether Darvis actually made as much money as he claimed, there was still some good trading tips that we can learn from him.Darvis's Trading Lessons:
* There are no good or bad stocks. There are only stocks that rise in price and stocks that decline in price, and that price is based on the laws of supply and demand in the marketplace
* "You can never go broke taking a profit" is bad advice that will result in overtrading and cutting winners short. Selling winners and holding losers is to be avoided at all times
* There is a "follow-the-leader" style in the market. You will find success by selecting the most active and strongest industry group and trading its top leader
* The combination of price and increased volume is key to stock selection. Focus your time on new leaders emerging with a new market cycle
* It is the anticipation of growth rather than the growth itself that leads to great profits in growth stocks. "You have to find out what the public wants and go along with it. You can't fight the tape, or the public."
* One of the quickest ways to lose money in the market is to listen to others and all of their so-called expert opinions. To succeed, you must ignore all outside opinions and predictions. Follow your own strategy!
* Losses are tuition on Wall Street. Learn from them.
* You should expect to be wrong half of the time. Your goal is to lose as little as possible when you are. "I have no ego in the stock market. If I make a mistake I admit it immediately and get out fast. If you could play roulette with the assurance that whenever you bet $100 you could get out for $98 if you lost your bet, wouldn't you call that good odds?"
* Most of your big failures will come from three things: 1) when you abandon your rules, 2) you become overconfident, and 3) trade in despair when unsuccessful
* The best speculators search only for the very best opportunities. To be truly successful, you must wait for the right opportunities to present themselves and this often means doing nothing for long periods of time
* The market behaves the way it does due to participants behaving the way they do. No one knows what they will do until they actually do it
* Long-term investors are the real gamblers in the market due to their eternal hope that losing stocks will come back in price
* It is difficult to be profitable on the short side of the market versus the long side - trading in rising or bull markets will give you the best chance for success
* Most, if not all stocks, will follow the general trend of the market
* To train your emotions, write down the reasons for making every trade. When you lose, write down what you thought contributed to the loss. Then study and set new rules to avoid making those same mistakes
* Concentrate your trades. At the peak of his success, Darvas would hold only 5 to 8 stocks at one time which was in contrast to his earlier days when he was overtrading and would hold up to 30 stocks at a time
* Avoid fallen leaders. Overhead resistance will keep upside potential limited due to supply from previous buyers who had not cut short their losses. According to Darvas, the only sound reason for a stock is one that is rising in price. If that is not happening, then there is "no other reason worth considering."
* Darvas used his "box theory" to trade using boxes to time his entries (on breaking out to a new higher box) and exits (breaking below the current trading box). For more info on using Darvas boxes, visit these two websites: GerryCo & Sethi
* For new trades, Darvas used "pilot buys" which basically were starter positions in stocks he liked. Only if the stock continued to move higher would he then pyramid and increase his position. He learned never to buy more of a losing position
* He thought many unsuccessful investors made the mistake of looking at the same familiar names that might have worked well for them in the past instead of focusing on the next stock with the right elements for the new market cycle. "I am only in infant industries where earnings could double or triple. The biggest factor in stock prices is the lure of future earnings. The dream of the future is what excites people, not the reality."
* Perfection has no role in successful trading. No one can buy at the absolute lowest price and sell at the highest price. No time or effort should be devoted to that goal. "I never bought a stock at the low or sold one at the high in my life. I am satisfied to be along for most of the ride."
* Trade only when the environment is in your favor. Darvas' strategy kept him out of poor and bear markets because he wouldn't trade stocks that didn't fit his requirements which were only found in raging bull markets
* Be aggressive when warranted. Darvas believed in making aggressive trades when his system pointed to a great trade. In fact, sometimes 50% of his capital was devoted to just one stock
* While his trading approach was very technical, after studying the market's winners he understood the relevance of finding stocks also with good fundamentals. Namely, Darvas thought that earnings and the future estimate of increased earnings were very important
* Be a student of the market. Darvas learned by reading more than 200 books about speculators and the market and devoted studying the market for many hours a day. In fact, Gerald Loeb's books & approach served as key inspiration
* No one can completely master the market. After millions of dollars and best selling books, Darvas was still learning and tweaking his system until he passed away
Do I Need To FIll Premium Gas In My Car?
Last year, I got a 2005 model Acura TSX. The owners manual recommend filling it with premium 91 octane gasoline. But with premium gas selling for nearly $4.50/gallon, I was starting to wonder whether it was really worth it.
I tried filling the car with low grade gasoline and I immediately felt the drop in performance. The mileage also decreased slightly. However, with mid-grade, there was barely any perceptible difference in performance or mileage. According to CNNMoney, it shouldn't really make a difference.
There you have it. If you realize that you're 200HP TSX is now a 150HP Accord and are willing to drive it like one, you shouldn't notice any reduction in fuel economy!
I tried filling the car with low grade gasoline and I immediately felt the drop in performance. The mileage also decreased slightly. However, with mid-grade, there was barely any perceptible difference in performance or mileage. According to CNNMoney, it shouldn't really make a difference.
With prices already over $4.00 a gallon, premium gasoline is a hard sell these days. But a lot of drivers think because their owners' manual recommends premium, they'll get better fuel economy if they stick with it. Really, they're paying more money for nothing.
Even cars for which premium is recommended won't suffer with regular fuel. Modern engine technology comes to the rescue again. When sensors detect regular instead of premium fuel, the system automatically adjusts spark plug timing. The result is a slight reduction in peak horsepower - really, you'll never notice - but no reduction in fuel economy.
There you have it. If you realize that you're 200HP TSX is now a 150HP Accord and are willing to drive it like one, you shouldn't notice any reduction in fuel economy!
Why The Dollar Is Strengthening
Yes, the dollar is rallying. It's been on a tear the past week.
It must be because the U.S. economy has turned around.
The deficit no longer needs to be financed with over $2 Billion a day in foreign investment.
Interest rates are appropriately high to be able to fight this soaring inflation.
The US government has stopped spending wildly, and the Budget is balanced.
The mortgage lenders have recovered all of their losses.
There is no longer a credit crunch.
And the war is the Middle East is finally over - the US is dismantling its gigantic military empire and has decided to use that money on improving our decaying infrastructure.
Because of all these factors, I believe the US Dollar will continue to keep on strengthening. According, I will be selling all my foreign currencies along with my gold and silver coins!
It must be because the U.S. economy has turned around.
The deficit no longer needs to be financed with over $2 Billion a day in foreign investment.
Interest rates are appropriately high to be able to fight this soaring inflation.
The US government has stopped spending wildly, and the Budget is balanced.
The mortgage lenders have recovered all of their losses.
There is no longer a credit crunch.
And the war is the Middle East is finally over - the US is dismantling its gigantic military empire and has decided to use that money on improving our decaying infrastructure.
Because of all these factors, I believe the US Dollar will continue to keep on strengthening. According, I will be selling all my foreign currencies along with my gold and silver coins!
Why Do Billionaires Still Go To Work?
Here are some words of wisdom from a very wise friend of mine:
"People who seem to succeed in business have a common trait, regardless of their industry sector. They don't do what they do for the money, or better yet they aren't desperate for the money. The money is the bonus - they do it because it is what they want to do and would do it anyway regardless of monetary reward.
The reason they will succeed is because they aren't in a rush, they want to do it right, they spend the time figuring out the right way to do it and they never give up. They don't need to give up because they never fail (You only fail when you quit and they never quit) - they are only competing with their own ideal and as they reach one plateau they set another and move towards it. Endlessly. The challenge is the goal - not the money.
This is why Billionaires still go to work everyday".
"People who seem to succeed in business have a common trait, regardless of their industry sector. They don't do what they do for the money, or better yet they aren't desperate for the money. The money is the bonus - they do it because it is what they want to do and would do it anyway regardless of monetary reward.
The reason they will succeed is because they aren't in a rush, they want to do it right, they spend the time figuring out the right way to do it and they never give up. They don't need to give up because they never fail (You only fail when you quit and they never quit) - they are only competing with their own ideal and as they reach one plateau they set another and move towards it. Endlessly. The challenge is the goal - not the money.
This is why Billionaires still go to work everyday".
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