Tuesday, November 23, 2010

Gatewood Announces.

Hey everyone.

Wanna know one of the coolest elections in the US, that also happens next year?

Well, here it is... The 2011 Kentucky Governor Race.

Below, is the candidate that am supporting. Read up on the guy, in fact, buy his book here... If you are in the Commonwealth, and are at one of his events, you can usually pick one up, signed, too.

His name is Gatewood Galbraith- he is a political bad ass. Oh, and yeah, Dea Riley, who is running for Lt. Governor, is cool too.

Monday, November 22, 2010

This is out of Atlas Shrugged.

Here, the Chinese government bans the "hoarding" of resources...

Sounds an awful lot like something out of Atlas Shrugged.

The Differences in Siblings.

This one came to me from my brother, of all people.

For those of us that have siblings, or ever wondered why siblings that we know are the way they are, it is a super interesting piece.


Physically, siblings tended to differ somewhat, but they were a lot more similar on average when compared to children picked at random from the population. That's also true of cognitive abilities.

Tom and Eric Hoebbel
Courtesy of Tom Hoebbel

Tom Hoebbel (left) became an artist, while Eric (right) chose finance.

"The surprise," says Plomin, "is when you turn to personality."

Turns out that on tests that measure personality — stuff like how extroverted you are, how conscientious — siblings are practically like strangers.

"Children in the same family are more similar than children taken at random from the population," Plomin says, "but not much more."

In fact, in terms of personality, we are similar to our siblings only about 20 percent of the time. Given the fact that we share genes, homes, routines and parents, this makes no sense. What makes children in the same family so different?

Thursday, November 18, 2010

New developments at ITEX

Here, there is a FAQ from the disident shareholders of ITEX.

Here, a lot of ITEX franchisees are supporting management.

It isn't a good sign for the proxy fighters.

Disclosure: None. This is not advice of any kind. Do your own research before doing anything.

EDIT: Here is a new presentation from the dissident group. It's good, and shows discrepancies in ITEX accounting. I really doubt that the franchisees will care much about it, but rather, the shareholders.

Wednesday, November 17, 2010

Warren Buffett is wrong.

Here, we see a counter to Buffett's latest op-ed.

Thanks to sreenr and DCG for the links.

To me, the whole "give praise to the government for fixing the bubble popping" thing would be like me setting your house on fire, then, calling the fire department and helping them put it out with a garden hose... then, I use your checkbook (which I stole before dumping out the contents of 5 gas cans) to pay the water company with. After this, you would thank me for doing such a good job in keeping the fire from spreading to other houses, because I am an arsonist and don't have much experience in putting out fires, additionally, you would thank me for paying your bills for you.

Bottom line, you still don't have a house and I should be in jail.

Tuesday, November 16, 2010

The Monetary Base

Looking at this while we prepare for the new round of Quantitative Easing 2, one can not help but be scared. Now, check out the expansion that occurred in the 30s...


Thursday, November 11, 2010

Legalize Bounty Hunting.


Seriously, how cool would it be if we had a bunch of people dressed up like Boba Fett running around the world?

Why we didn't put a billion dollar bounty on Osama Bin Laden's head nearly a decade ago escapes me. If broken up into increments that every American would pay, it would equate to a little more than $3 bucks a person. I'd be willing to give up a single beer at my favorite dive bar to have his head on a pike... how about you?

And of course, Ron Paul is way ahead of us on this. :)

Thursday, November 4, 2010

Wednesday, November 3, 2010

Monday, November 1, 2010

Virtually the only thing that I dislike about living in Central Kentucky.

I generally can't see geeky films, like Freakonomics, in theaters. :(

The New Dissident Proxy for ITEX.


My favorite quips that were responding to the statements seen here:

On January 22, 2009, consistent with Rahul Pagidipati’s philosophy of investing in undervalued securities, Mr. Pagidipati contacted the Board of Directors of ITEX to gauge their interest in exploring a variety of strategic alternatives. Mr. Pagidipati believed his background and education could assist the Company. Mr. Pagidipati added that he would like to set up a conference call to discuss any potential future possibilities. Mr. Pagidipati received no response from his email.

On June 18, 2010, Mr. White emailed Mr. Parsad stating “Thank you for sending the agenda. We do not enter into discussions with shareholders about confidential topics” and recommending to us to communicate with the Company’s communications director, Alan Zimmelman. Mr. Parsad responded to Mr. White’s email with the following: “We were extending our hand to the board. We were hoping that if we could agree on some key components of our common vision for ITEX, we would have been agreeable to supporting current management without seeking any board representation. It seems as though you guys are resistant to that idea. I’ll cancel the conference call, and we’ll continue on our current form of contact, either by letter or through Alan. We’ll leave it to the board to decide what type of relationship they want with their largest shareholder group.”

Also, something that you all may find of interest is the specific plan that is presented. Most notably, returning $5 million to shareholders over the course of the first year... $5 million over a year? Wow. That is ~30% of what ITEX can be bought for, in whole right now.

· Return over $5 million in cash to shareholders during calendar 2011 starting with a $1.00 per share special dividend

· List ITEX’s stock on the NASDAQ Capital Market

· Hire a full-time CFO to improve ITEX’s accounting practices

· Expand ITEX’s Board of Directors to five members

· End an ineffective acquisition strategy – organic growth will be the focus

· Refocus the company on franchise-related initiatives

· Actively recruit entrepreneurs with the proper fit to join ITEX’s franchises brokers

Check out www.enhanceitex.com for more info.

Overall, this has been a pretty interesting contest. With so much time before the meeting, this may well get to be the muddiest of all the elections we see this year! Naturally, I am pretty sympathetic to the cause of the activists, and hope they win. Additionally, it will be interesting to see what happens to the share price in the next 3 months.

Disclosure: None. This is not advice. Always do your own research before doing anything that I talk, write, or even think about.