Daily Archives: September 23, 2013

The New Beagle Puppy: There Is (Always) Method To My Apparent Madness!

Anura Guruge, June 8, 2013.


..Anura Guruge

Related posts:
>> We are getting a Beagle
>>Sep. 21, 2013.

>> Goodbye to ‘Ulysses’ — Sep. 16, 2013.

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Click to ENLARGE. The Beagle that won the 2008 Westminster Kennel Club Best in Show. Bottom right is Tesichan, in 2007, sitting on her brother’s head. Above right is me with my old Shaw’s Pond neighbours from around 2000, if not earlier. Above left is Matthew at a Rocket Camp in 2001.

That I rushed off and got a Beagle puppy struck Deanna and the kids as rather strange. I am noted for being devoted to Goldens. Yes, we had talked about other types of dogs and smaller dogs but they didn’t think I would really get anything other than another Golden.

This morning, after my run, I was going down the bottom flight of stairs in this house (which has three flights of stairs) when a picture of a Beagle caught my eye! I was stunned. Even more so that I hadn’t noticed it earlier and that the kids hadn’t pointed it out.

In 2007 when we moved into this 4 story house we kind of made the ground floor the family floor and made the hallway into a kid-friendly area. Painted the walls a magnetic, chalkboard black so that they could draw on the wall and maybe even hang light magnetic stuff. I also put two huge cork boards up so that we can pin pictures of interest.

The largest of the two cork boards face you as you go down the stairs. It has an eclectic mix of pictures from Obama to to popes, along with family pictures and what the kids used to refer to as the ‘statue with its pee-pee showing’. The artwork was to give them an appreciation of what is great.

I now remember this Beagle winning Westminster 2008. We liked him. Doubt whether Braxton will be anything like that. But, obviously, in 2008 we thought enough of Beagles to give them pride of place on the cork board. Enough said. I wasn’t been totally irrational. We must have agreed that Beagles were an acceptable replacement for Goldens though I doubt whether I will ever be without a Golden.

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Click to ENLARGE. There are two pictures of Ulysses up at the top. That is Matthew as ‘something’ from Star Wars in 2000. The girl hugging the tree is Danielle when she was 18.

Did YOU Know That ‘They’ Now Have IPO Allocation FLIPPING Restrictions?

Anura Guruge, June 8, 2013.

Anura Guruge

Related Posts:
ETK called ‘FKU’ — Sep. 12, 2013.
No longer own Apple — Sep. 11, 2013.
++++ Check category ‘Investments’ for more >>>>

I used to be an IPO junkie. The very first stock that I ever bought was an IPO of sorts, dear Margaret Thatcher’sBritish Telecom‘ (BT) privatization lottery. I got an allocation, and unlike others, I, as ever, played by the rules, and only submitted one entry. I was hooked. BT, to start with, did extremely well. I then participated in every other ‘British’ privatization IPO: BP, BA, BAA etc. etc. To say I was right in the thick of the ‘dot.com’ mania would be an understatement. It was my life. I consulted for so many of the major players. I was at the Wellfleet office in Burlington the day they went public – though I can’t remember whether they gave me an allocation! I do remember with great fondness that CrossComm, a company that I spent a lot of time with, did put me on their ‘friends & family‘ list and as such I did get an allocation. I am sure I made money on that.

I took part in IPOs by rote. It was the thing to do. Yes, of course, I got burned. But, it was fun. Part of the dot.com mania.

Given that I have been with them since about 1989, though I am but a very small minnow when it comes to assets owned, Fidelity does allow me to bid on IPO allocations. Since I tend to be ‘long’ (though my son the investment whiz of 2013 is trying to cure me of that bad habit) I usually don’t bid for IPOs since I don’t have ‘cash’ lying around.

In 2008 I did bid for VISA (V) and was amazed and jumping for joy when I got an allocation. That and the ‘Bear Stearns‘ stock I bought the day they went BUST ensured that 2008 wasn’t as painful as it was for others.

Recently I haven’t been that fortunate and I had stopped asking. I asked for VMWare and LinkedIn and was overlooked. I didn’t bother with FaceBook (FB). Instead, just for fun, I bought 5 shares, on the IPO day for “free” (i.e., using money from an options call) just to say that I had participated in the IPO of the ‘year’. Yes, those 5 shares are NOW making money after a year.

Until now I have never encountered restrictions on selling IPO shares.

Flipping IPOs at the pop was what you were supposed to do. That how you made the ‘BIG’ bucks.

Last week after I sold the last of my Apple (APPL) stock I looked at the IPO market as a ‘good’ place to invest some of that hard fought capital. Bid on two, got one: ClubCorp Holdings (MYCC).

But, it came with a NO FLIPPING warning from Fidelity. Stopped me in my tracks. Seemed so UnAmerican. You can’t flip IPO shares? What next? You are going to be forced to buy healthcare insurance?

I called. As ever they are very, very nice and helpful. Appears that other brokerages do the same thing too; i.e., protect the major shareholder SELLERS by preventing new owners from dumping their shares.

So here is the Fidelity rules on it. Yes, you can sell BUT then you incur their wrath with a penalty. So, as of now I am going to think twice about asking for IPOs.

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Click to ENLARGE.