September 25, 2007 by Dan White.

I was in Wall-Mart buying a large bag of Purina for my dog, and was in
line to check out.  The woman behind  me asked if I had a dog……
Duh!!  I was feeling a bit crabby so on impulse,  I told her NO.  I was
starting the Purina Diet again, although I probably shouldn’t because
I’d ended up in the hospital the last time, but that I’d lost 50 lbs.
before I’d awakened in the intensive care unit with tubes coming out
most of my orifices and IV’s in both arms.

   
  Her eyes bugged out of her head.  I went on with the bogus diet story
and she was totally buying it.  I told her that it was an easy,
inexpensive diet and that the way it works is to load your pockets or
purse with Purina nuggets and simply eat one or two you feel
hungry.  The package said the food is nutritionally complete so I was
going to try it again.   

  I have to mention here that practically everyone in the line was now
enthralled with my story, particularly the tall guy behind her.
Horrified, she asked if something in the dog food had poisoned me and
was that why I ended up in the hospital.  I said no…. I’d been sitting
in the middle of the street licking my butt when a car hit me.
   
  I thought the tall guy behind her was going to have to be carried
out…. 

Signed

Anonymous

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September 14, 2007 by Dan White.

It is interesting how CRA is in the business of money. Based on the above data from the CRA web site,

They took in an average of $5,612.57 per audit.

If all those customers had used our BKS System, the average CRA grab could have been reduced to zero.

BKS is the only bookkeeping system that is structured to keep all expenses safe in an audit. 

For anyone who wants to live audit worry free, BKS fills the bill.

dw

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September 14, 2007 by Dan White.

Dear Editor,

What does “Christalizing Losses Mean?” We just recievedadvice on what to do about some bad investments.

Dear Investor,

Basically it is part of a process of being a fool in the stock market and not understanding Holistic  risk management.

The concept is making a decision to hold or Crystalize. Often the advisor recommends holding firm in the face of losses in the stock-market to benefit from the bounce back. To me this is like being a mouse and avoiding the cat, so you can eat it’s food when the cat is not watching.The idea of holding is based on the fact that markets have historically turned around so eventually the investment comes good. Or another way of looking at this is hoping you don’t lose your entire investment.

Crystallizing is the process of selling to lock in a loss. Wipe the slate clean and begin again. The idea is to have an amount to offset other capital gains. This may or may not be useful or beneficial… it is just an option.

You need to know when to hold em and when to fold em, and know when to walk away. Learn how to reduce your losses and when not to take the risk. 

Over all most people really don’t know what they don’t know they don’t know and make serious decisions without all the knowledge. I have a very jaded viewpoint on investments in General…. My lessons have taught me a huge amount on Risk Management and has evolved a process of Holistic Risk Management, a process that I think is exclusive to WNBC. 

Yesterday, I had to work with a client who put a lot of money with a high profile promoter of Whole Life Insurance with an educational component, where there was misreprentation, invoves vicarious responsibility for a very well known insurance company…. the client’s borrowed money against his house, investment has shrunk 45%….. and not only does the investment not pay the interest, which he now has to pay, but has experienced a big lossin his portfolio.

So the concept of crystallizing or holding is a decision that needs to be holistic in nature. Most people make bad investments. The odds of long term success following “Conventional Wisdom” is not good.

I for one have learned some painful lessons about investing.

Best Regards 

Dan 

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