Hi ODB, the Romans globalized to the maximum selfish extent they could, and then were no more. The Chinese mostly minded their own selfish business at home, and are still doing the same.
Of course, one data point does not dictate a law.
I am afraid that globalization is as inevitable as some astronomical acts, and I am afraid.
We are now solidly into Saturday here. Perhaps coincidentally, yesterday was Friday, and more amazingly still, tomorrow will be Sunday. Day follows night, which then follows day, and will the wonders never cease?
This post is not about temporal observations.
Today is also the first day of the watch auction, and the most important piece of gadget up for bid is Lot 423 (bidding for Lots 200-423 will be held tomorrow), with no estimate provided:
catalog.antiquorum.com
It could go for millions, if the remaining-rich of Hong Kong/SE Asia or the still-rich Internet-enabled but dwindling crowds from around the world have the appetite.
Is it worth it? It is difficult to say, unless you are Maurice.
If QCOM is still worth over one 20+ billion dollars, after having lost over 80% of its once imputed though imaginary value, and still fevered though well-argued cost, then who is to say what this fine example of Swiss engineering, constructed with Aztec metal, is worth.
One thing is beyond doubt, the …
“Patek, Philippe & Cie., Genève, … made especially in 1890 for Jean de Gradowski. Extremely rare, probably unique, 18K gold Grande Complication keyless astronomical double train Grande et Petite Sonnerie clock watch with instantaneous perpetual calendar, phases of the moon, Julian and Gregorian calendars, minute repeating and chronograph with central 60-minute recorder”
… did not and are not about to lose 80% of its value; at least not if the auction generated bids, or until that day when the ‘globalizing’ comrades north of me learn to work some special tools and jigs.
No Maurice, we do not have to worry about any CDMA-enhanced Japanese robot from Seiko doing a number on this art form.
In any case, I will have nothing to say about the value of this particular living Aztec artwork. My wife, about to go to jazz dancing exercise, just gave me a hug out of pity, seeing my registration chit that can be transformed into a bidding paddle if I travel to town, and the credit-limited Internet bidding PIN. All dressed up and no party will have me:0(
I do actually have the heat for one equation of time machine, but the decision is difficult, necessitating once again the used arguments:
(a) cash is trash, spend aome or lose all
(b) just transforming one state of asset to another
(c) at least I can fondle it, every day
Manipulation of wobbly proforma income statement, amortizing one-off expenses, tipping leaning balance sheet, adjusting vaporous good will, and tempering with compliant book value do not just have to be limited to the corporate world:0)
No, this post is not about watches or Aztec metal, and the diseases they cause, nor is it about saving the soul of Maurice, the Old Age colonialist turned New Ec ‘globalist’.
Well, that leaves us with the possible subjects of coconuts and savings, sausages and nausages, good money and poisoned pool of funding, surging red tribes, battling green clans, observing platinum gangs, rampaging barbarians, or weather phenomenon such as loose typhoons, rogue waves, and crimson tsunamis. So much to talk about, again, and yet all that needs to be said were.
There are always the standby subjects of girls singing about their bodies during summer, books recording what happened yesterday, news about what may happen tomorrow, speculations concerning what will not occur day after tomorrow, circling falcons, traveling Jays, patriotic consumers, faithful provincial investors, realistic global electorates, masterful maestros, equivocating politicians, prevaricating CEOs, lying auditors, grandstanding attorney generals, still devoted but definitely Caribbean-bound corporations.
Hell’s bells, we may even talk about stocks, bonds and currencies.
When failing all, tally up the allocation. Yup, still all there, as designed per spec:0)
Cash 46% (37% Euro, 6% CHF, 19% AUSD, 3% HKD, 35% USD)
Physical gold and platinum metals 6% (80/20 respectively)
Bonds 21%
Real Estate 22%
Equity 5% (AurionGold, AAPTY, AMGN, AOL, AU, AWK, BP, CHL, CMCSK, CWT, DROOY, HGMCY, NEM, RAD, SNE, SWC, XOM, Furukawa Electric, Hongkong & Shanghai Banking Corp, CNOOC, Petro China, Sinopec,... )
I have these outstanding and internally not altogether consistent option positions:
Short NEM June Call 20 covered
Short SWC July Put 15
Long RDN August Put 40
Short NEM Sept Call 30 covered
Shot NEM Sept Put 25
Short SWC Oct Call 20 covered
Short HGMCY Nov Call 15 covered
My MS Money morgue, which now is much less cluttered than before, has shares that qualify me to receiving the annual reports: AIG, CSCO, INTC, MRK, MSFT, PFE, QCOM, WMT, and in HK equity morgue - Citic Pacific, Phoenix Satellite TV
I do not have debt, and NAV YTD appreciation is now @ 4.55%, well on track to a more than ambitious 8% for 2002.
Last Reference Coordinate:
Message 17449478
... and we have not travelled far from the familiar.
I have to go to the beach now. The water is extra clear this season, since the new HK waste treatment plant went on line, and unusually, swimmers can see their own legs now, just like in Buddahist Thailand, but not as clear as WAT front line Philippines.
The view is extra good if one dog paddles to the hemp lined floating steel buoy that sleeps eight without difficulty. Somebody’s tax dollars well spent, to the benefit of my publicly-minded beach without unselfish-community parking.
Waiting for Collapse is trying but unavoidable work, like globalization, just is, and simply will be; I am afraid.
Chugs, Jay |
