The Beano Family
2nd episode
Well, it's hard to believe that 15 years have passed since we last looked in on The Beano Family. Things have pretty well gone as I expected. The years have not been kind to Bo and Beaula but I guess that was to be expected, I mean with his smoking and all. Of course forty years working with chemical laden fiber glass doesn't help either. Bo turned 65 about 9 months ago. Beaula had to give up her Beauty Shop as a result of severe arthritis and now works as a receptionist at a local mattress factory.
Bebo and Bobo each turned forty last month and as might be expected they both have two kids and a home in a middle class section of Buena Vista and everything that goes with that. Both boys managed to find the time to get an Associates Arts degree in Accounting from the local Junior College and ironically both were hired by the same firm, The Bantam County Bolo Bat Co. in Buena Vista. Their accounting duties run pretty well along the same lines with a couple exceptions, Bobo handles the FIFO and Bebo handles the LIFO. They both have put in ten years with the firm and are bringing home a gross income of $50,000 annually.
As you know from the introduction, the family was the beneficiary of an inheritance from Bo's father Blo Beano. It is sad but the returns on that inheritance have not exactly been earth shattering. Upon receiving their portion of the funds and after talking to several people, they decided to visit the nearest M.L. office over in Villa Rica, Ga. Well, I bet I don't have to tell ya where the monies were placed. Yep, in those good old value funds. The $100,000, each son had received now totaled approximately $200,000, not a bad figure but it pales in comparison to the rise in the Dow, S&P and certainly the Naz.
We now join Bebo and Bobo as they meet to discuss their alternatives in regards to their holdings. Morning Bebo said Bobo, did you bring the bagels? No said Bebo a little sarcastically, I did not bring de bagels, I am more concerned about our de bacle! Listen said bebo, I have been doing a lot of thinking, and reading to I might add. Did you say reading Bebo asked Bobo. Yes Bobo READING, something I am sure you are totally unfamiliar with. Well all I know Bebo is, all my friends in the market supposedly are kicking ass and I am ready to do the same! Well, I am not so much into kicking ass as taking some stress off of me and my family. I mentioned I had been reading and a lot of that reading has dealt with Writing Covered Calls. What in the hell are those retorted Bobo. Never mind said Bebo, you wouldn't understand if I told you and I don't fully grasp the concept myself but some presumptuous ass named Voltaire on an investment thread I read has gotten my attention lately and I am about ready to take the plunge. Well, I don't know about all of that crap but I do feel I can do better that that damn mutual fund we have and I am coming out of it tomorrow! OK, Ok I agree, we'll go down and transfer our funds tomorrow. Let me ask you this Bobo said Bebo, what are you going to buy to kick all of this ass you keep talking about? Qualcom my man Qualcom, I just think from what I have heard from everyone, and by the way I do mean EVERYONE in Buena Vista is buying it. That's odd said Bebo, I was going to buy Qualcom to, I had heard the same thing from a few people, gee, wonder why?
Well, true to their word, they redeemed their mutual fund shares and opened up an account with Please Trade Inc. out of Omaha, Ne., they both had computers, therefore trading on line would present no problem. The next day they both purchased $200,000 in QCOM stock or roughly 1500 shares at around $134 per. and then partied ways.
To be continued-
Voltaire |
