National Geographic on Iran: "Knowledge of self is knowledge of God"

National Geographic has an interesting article on Iran and its past:

http://ngm.nationalgeographic.com/2008/08/iran-archaeology/del-giudice-text

They like to say, for instance, that when invaders came to Iran, the Iranians did not become the invaders; the invaders became Iranians. Their conquerors were said to have "gone Persian," like Alexander [the Great], who, after laying waste to the administrative practices, took a Persian wife to do the same in a mass wedding. Iranians seem particularly proud of their capacity to get along with others by assimilating compatible aspects of the invaders' ways without surrendering their own - a cultural elasticity that is at the heart of their Persian identity.

The author, Marguerite Del Giudice, really did her homework--it's very hard to define words that have no direct translation in English, but she aptly defines the word, "taarof," which means "fighting for the lower hand." To understand this word provides substantial insight into Persian culture. The article also lists the best Persian poets: Rumi, Sa‘id, Omar Khayyám, and Hāfez .

Thanks to Alison Bryan for the tip (August 31, 2008 posting):

http://www.alisonbryan.com/blog/

Bear Markets

© Wall Street Journal

Market Gyrations

I sold off several positions on Tuesday. I wanted to do a stocks update, but I am in the middle of trial prep, so I will offer only my remaining open positions over 2,000 dollars:

EMC
EZU
PFF
SWZ
YHOO

My biggest loser thus far? Yahoo (YHOO). Unfortunately, I continued to average down, and my average buy price is around 18. The lesson? Never catch a falling knife, no matter how cheap the stock seems.

David Brooks on the Stimulus Package

In yesterday’s New York Times, David Brooks says the stimulus plan didn’t work:

It was a failure, because “people spent only 10 percent to 20 percent of the rebate dollars and saved the rest...Martin Feldstein of Harvard calculates the package added 80 billion to the national debt while producing less than 20 billion in consumer spending.”

More evidence the phrase, "We're the government, and we're here to help you," should inspire automatic fear.

NBA Layoffs

You know the economy is bad when the NBA starts laying off people:

http://sports.yahoo.com/nba/news?slug=ap-nba-jobcuts

The NBA, like most other major American businesses, is focusing on international expansion. Maybe Hamed Haddadi can help them out...

Update: Check out this post on Don Nelson and Corey Maggette if you're a Golden State Warriors fan:

http://willworkforjustice.blogspot.com/2008/12/basketball-don-nelson.html

Economy

Great article from Ron Scherer (www.csmonitor.com) about Americans finally shifting their attitudes towards finances:

http://www.csmonitor.com/2008/1010/p01s04-usec.html

Since last October, household net worth has fallen more than $6 trillion...That calculates to roughly $55,000 per household.

This is one time where I am happy to be below the average. Americans, for the first time, are realizing that having too much debt is unwise, which should cause a short-term bump in our savings rate.

Stocks Update: October 13, 2008

The market went up dramatically today, but because it went down 20% last week, most people are still down at least 10% or more.

I made over 600 dollars with my short term Morgan Stanley trade, but it didn't reach the 2000 dollar mark, so the trade is not included below. I had bought only 100 shares at 8 dollars/share last Friday.

I sold my GOOG too early. Had I sold just two hours later than I did, I would have made 2000 dollars, but I dumped as soon as I broke even. As they say, better luck next time.

(I hold EMC and Yahoo in two different accounts, so the percentages below for those two positions are slightly inaccurate.)

Open Positions
CCT = -16.77
EMC = -12.41
EZU = -25.52
GXC = -15.23
MMM = -5.32
SWZ = -22.24
VPL = -22.49
YHOO = -21.52

[Average of "Open Positions": losing/negative average 17.69%]
[141.5 / 8]

Closed Positions:
Held more than seven days but less than one year (from May 30, 2008):
CNB = +10.0
EQ = -8.83
EWM =-11.61 [sold 9/22/08]
EWS = -12.98 [sold 9/22/08]
GE = -6.4
GLD = +8.61 [sold 9/22/08]
IF = -49.00 [sold 10/13/08]
INTC = 0.0 (excluded from average; insignificant movement)
KOL = -10.36
MGM = - 4.17 [10/3/08 - 10/13/08]
PFE = -5.5
PNK = -16.7
PPS = -2.8
VNQ = +2.37 [sold 8/7/08]
WFR = +0.9 (approx; based on partial sales week of 8/4/08 in two separate accounts)
WYE = +2.4

[Overall Record for 7 days+ trades: lost an average of 6.94%]
[-104.07 / 15 trades]

Held less than 7 days:
DUK = 0% (excluded from avg) [8/07/08 - 8/14/08]; GE (1.0%); GOOG (0.8%) [7/28/08 - 7/29/08]; GOOG (5.4) [9/29 - 9/30]; GOOG = 0% (negligible percentage, excluded from avg), [sold on 8/13/08]; GRMN (-6.2%) [Sold 8/5/08]; ICE (2.0%); KOL (13.2%) [9/17/08 to 9/19/08]; MMM (0.5%); MOS (10.4%) [10/6/08 to 10/8/08]; MRK (0.1%); NVDA (8.0%) [8/12 to 8/13/08]; PFE (1.3%), SCUR (15%); SO (-0.3%) [Sold 8/5/08]; STT (2.68%) [10/1/08 to 10/3/08]; STT (0.4%) [10/3/08 to 10/7/08]; TTWO (4.3%) [partial sales on 8/5/08, 8/7/08, and 8/8/08]; TTWO (2.2%) [9/9/08 to 9/12/08]

[Overall Record for ultra short-term 2 to 7 days trades: gained an avg of 3.57%]
[60.78 / 17 trades; as of 10/8/08]

Daytrades:
C = +11.49 (09/01/08)
PFE = +0.5%
GE = +0.5% (Updated on July 14, 2008; bought at 27.15, sold at 27.30)
STT = +0.3
XLF = +4.3% (Updated on July 15, 2008)

[Overall Record for daytrades: Gained an average of 3.35%]
16.79/5

Compare to S&P 500: losing/negative 29.57%
[from May 30, 2008 (1385.67) to late-day October 13, 2008 (975.89)]

The information on this site is provided for discussion purposes only and does not constitute investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities or make any kind of an investment. You are responsible for your own due diligence.