In a recent post at 0 to IPO in 7 Years, I made a comment that I did not see enough of a difference between speculation and investment and asked for a clarification. Rocky promptly presented the following crisp definition:

“My definition: A speculation is a holding (of whatever sort) where the success or failure is determined by the expectation that ANOTHER MARKET PARTICIPANT will move the price in a particular direction…

I bought a house for $150,000 eight years ago and had a loan of $120,000. The value of my house increased to $350,000. I took advantage of the situation and refinanced, being a conservative person, only borrowing $280,000 at a favorable 5.5% rate fixed for 30 years paying $1,600 per month for the mortgage and another $400 per month for real estate taxes and insurance…

This might be a bit long but I have to share. A couple months ago I met with a few paving contractors (actually their salesmen). One of them (let’s call him Chief), an elderly man, in poor health with difficulty speaking came by, measured, gave me the lowest quote and left. He came across as trustworthy. In all my recent dealings I look for integrity and trustworthiness above all…

Having experienced the house building process, I have learned a lot and wanted to share a few thoughts here in case you ever face the dilemma of building vs. buying. There is an Armenian saying that every man must “plant a tree, have a child, and build a house.” I think the last one is questionable in the literal sense (though in the saying it’s really about making a home for a family)…

Home improvement contractors are unique people. I am no longer surprised by the tricks pulled by some of them as I have learned to expect absolutely anything. Does their business environment require some to act a certain way? I have not yet fully figured this out and hope you’ll share some of your experiences and thoughts. Here are some of mine.
Know the work. This is a difficult one as the more you know the less pleasant it is to see the various shortcuts that are employed at your expense. However, …