Music Monday: The Coasters, “Yakety Yak” and an aviation tweet
Posted By RichC on August 16, 2021
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Local banking issues, blockchain technology and the interesting book: Crypto Asset Investing in the Age of Autonomy
Posted By RichC on August 15, 2021
For decades now I’ve had a fairly positive relationship with both business (CPP) and personal banking … and particularly with local banks. I grumbled the 1990s when multiple bank mergers forced out the manager I worked with in NE Ohio. He knew me by name and often pulled
me aside to see if there was anything my business needed. That was helpful for a small business owner and it was appreciated when starting a business. Unfortunately the changes brought “less personal” banking to both the small business and personal side … BUT we adapted and even learned to appreciate the efficiency improvements online banking brought us.
Lately though (the last decade perhaps), it seems banks are becoming desperate in squeezing existing customers and are looking for ways to make a buck here and there; it has been irritating and even a lot less personal (if that is possible). Recently a sneaky $10 fee for not “maintaining a $2500 DAILY balance” on a linked savings account surprised me. Even worse was that the Huntington Bank local branch couldn’t solve my minimal gripe, didn’t have current interest rates and didn’t know the balance requirements for their savings accounts. I ended up wasting a half hour on hold in 
order to talk with a customer service representative for him to tell me the minimum daily balance was $2500 … yet he still could not tell me what the interest rate was nor could he close out my offending account, although I did get the $10 charge reversed. If we are not receiving friendly personal service (or interest on account balances), why should we bank locally if all they are doing is using gimmicks to entice new and existing customers to open new and additional accounts then … drive them off by charging monthly fees? (although it is not quite the “open an account, get a toaster” from my mom and dad’s generation)
The whole fiasco has me wondering if banks, and in particular local banks, are doomed once cryptocurrency digital wallets and connected smart device like watches and phones using blockchain technology go mainstream?
As for the book, my buddy Jeff loaned me an interesting blockchain – cryptocurrency book to read by Jake Ryan called “Crypto Asset Investing in the Age of Autonomy” and he likely is waiting on my thoughts and opinion (we tend to discuss these kinds of things). 
Of course I’ve been intrigued and frightened in watching so many in our society (especially the millennials) leaping onboard without understanding where they are sending their money and what they are buying/trading/investing in … pick your description. I’ve been a fractional shares holder for a couple of years now and am reluctant to call buying Bitcoin, Ethereum, etc “investing” since it current resembles an unregulated artificial asset that resembles a pyramid scheme … or probably more appropriately a privately traded “currently” non-functional currency without something tangible behind it like a precious metal, a commodity, share of a company or even a fiat currency issued by a government. Crypto advocates of all flavors are quick to point out that most other assets we hold that do not have intrinsic value either and are priced in a similar supply-demand fashion … Hunter Biden’s artwork comes to mind (ok, that was a joke … or should I say IS a joke).
As I started reading the “Author’s Note” section, I was immediately intrigued since the author is a much bigger thinker than the narrow mind of someone who just wants to know which cryptocurrencies to buy and which avoid (thinking like a stockpicker). The point Mr. Ryan quickly makes is how much like the “Industrial Age” and “Information Age” … he believe we are in the “Age of Autonomy” where blockchain technology is going to be the way people gain back control of their personal information. If you don’t see it currently, much of big tech for the most part is in the business of collecting your personal information. They then either sell it or market using it … or both. It is one thing when AI scans your social networks and Gmail in order to help sell you what you want (or might want) … it is another when it builds a profile that has everything from your health information, politics, purchase history, who you communicate with and every place you have been for as far back as you’ve been freely giving them your GPS locations. (Check out the Netflix movie: The Social Network – preview)
Competition, the drive for efficiency, and continuous improvement ultimately push businesses toward automation and later towards autonomy. If a business can operate without human intervention, it will minimize its operational cost.
If Uber can remove the expense of a driver with an autonomous vehicle, it will provide its service cheaper than a competitor who can’t. If an artificially intelligent trading company can search, find, and take advantage of some arbitrage opportunity, then it can profit where its competitors cannot. A business that can analyze and execute in real-time without needing to wait for a human to act, is a business that will be able to take advantage of brief inefficiencies from other markets or businesses.
This trend following a thesis that is based on 100 years of proven economic theory. Short-wave economic cycles, those 5- to 10-year cycles, are driven by credit but the long-wave economic cycles, those 50- to 60-year cycles, are driven by technological revolution. We’ve had 5 cycles over the past 200 years with the last wave, the Age of Information & Telecommunications.
We’ve seen evidence that a new cycle has begun. Technological revolutions come by way of a cluster of new innovations. About a decade ago, you started to see AI, robotics and IoT (sensors) delivering on automation. That’s been powerful, but not transformational. It does not force businesses to fundamentally change how they do business. The last piece of the puzzle was cryptocurrency because it allows us to process and transfer economic value without human intervention. Soon, there will be a global race to build autonomous operations. Businesses and organizations without autonomous operations simply will not be able to compete with those that do because … autonomy is the ultimate competitive advantage.
Crypto is the mechanism that will accrue value from being the infrastructure for the next digital financial revolution. Crypto Asset Investing lays out a case that we’ve begun a new technological revolution similar to the Internet Age of the 1990’s. Artificial intelligence, the Internet of Things, robotics and cryptocurrency are converging to deliver on a new age, what I call the Age of Autonomy. Understanding the transformation that’s taken place before anyone else can yield enormous investment opportunity. In this book, you’ll learn how and why to invest in crypto assets.
Primer: An retirement savings decision making cheat sheet
Posted By RichC on August 14, 2021
The older I get, the less investment risk I’m comfortable taking. Perhaps it is not the age thing, but having experienced stock market gyrations and what happens to our investments?
For those of us in small business or in the gig economy, and increasingly 
for those who move from company to company, we are our own investment decision-makers. Even for those working at small companies, gone are the days of pensions and company managed investments. For much of America … this mean we are saddled with making decisions regarding saving and planning for your retirement. If you do it well, and stay healthy, then you’ll likely be more comfortable than those who rely on their employer or a government plan. If you do it poorly, your golden years are likely to be filled with regret.
So what are your options?
- A robo-advisor or pay an investment advisor or company a percentage of what you budget to make decisions for you. It is likely they’ll take at least 1% of your assets (likely more) every year whether they make you money or not (watch for the hidden cost too). It is a hard pill to swallow for those who may have independently made decisions their whole life (common for entrepreneurs).
- Choose Mutual Funds which have long been the way individuals have saved and balanced the risk of owning individual stocks and bonds or having to make buy and sell decisions on the assets they hold. Mutual Funds have fees, but many are palatable and smaller percentages. They are easier to cut ties with (sell) if you don’t like their performance and fees or when your risk profile changes when you get older. Mutual funds are priced once each day at 4PM EST but are well design for those who might want to tweak only once or twice a year … if that?
- Open a brokerage account and trade Individual Stocks, Bonds (or CDs, life insurance plans and annuities, etc) – Those who are confident in their decision-making will be happy doing this, but statically they often fail to maintain stable portfolios or even keep up with the professional managers or Mutual Funds after paying fees. Buying single stocks can be is pretty risky and having only a few stocks is like closing your eyes and walking across a country road – probably safe but risky. Still, if consistently done right, you won’t be giving up the saved management fees .. and they can compound year after year and be retained in your portfolio.
- Finally there are ETFs and CEFs. This last segment is becoming increasingly popular since the combination and variety ETFs and CEFs along with online screening tools can help reduce risk and cost. They offer a wide variety of investment options (too many choices) and reduce risk by holding a bucket of stock, etc in one ticker symbol (diversity within similar assets). They can be strictly “index-tracking” related shares or structured to change based on your age. The assets are passively managed (low fees) in the case of ETFs, or actively managed by professionals with those associated risks, but can reward with better returns and higher dividends for their higher fees in the case of CEFs. The advantage for those who want to trade more often, in these days of low and no commissions, is that they can be bought and sold throughout the trading day.
The learning center at Fidelity had a great chart and write-up that might be helpful … and helpful enough to archive below.
Tech Friday: Apple Magic Mouse scrolling extension ScrollMaps
Posted By RichC on August 13, 2021
Years ago (2015) it was a struggle to get Apple’s Magic Mouse to play nice with Google’s Calendar app. Since I was not the only 
one who had this problem, I shared a browser extension fix for Chrome that at one time I thought might be just temporarily needed (but it is still needed). It is called Google Calendar Scroll Disabler and works with the Brave browser as well.
So in that same theme, the Magic Mouse has a similar problem with the zoom feature on Google Maps. So once again, a fix in the form of a browser plug-in (this time I’ve only tried it with the Brave Browser). The extension is called ScrollMaps and seems to solve the zooming problem (see CNET article for more information).
Unfortunately, though, that doesn’t help with Lightroom, Aperture, or third-party Web sites that embed Google Maps.
Macs are widely used at Google, as is the Google Maps service. So, while I fear there are limits to what can be done given the mouse’s design and responsiveness, I hope at least that some improvements will arrive.
Happy Birthday Brenda. Where have the last 12 years gone? #TBT
Posted By RichC on August 12, 2021
Today is my wife’s birthday and I do my best to remember and marked the day on MyDesultoryBlog.com. This year I remembered one of my favorite photos of Brenda from one of our cruises (actually an ani gif … wait for it) – this one is west of Gibraltar back in 2009. Since it’s from 12 years ago and today is a Thursday, I’ll also tag this as a Throwback Thursday #TBT birthday post! Oh my, where have the years gone?
Anyway Happy Birthday Brenda … enjoy “safely” using your new yard toy (my gift this year is a small lithium battery powered pruning chainsaw so she doesn’t need a cord, two-cycle oil or “ME” around to start the generator we usually stick in the yard trailer).
Old bananas, a place for everything and everything in its place
Posted By RichC on August 11, 2021
Generally we (really just me) eat up the bananas before they go too soft or brown, but when they do, I make banana bread. Slowly but surely I’ve been tweaking my recipe (below) … usually adjusting the amount of bananas (and how soft) and the 1/2 – 3/4 cup of sugar part. This past week, I think I found perfection … although NOT using the toaster oven to bake bread was a big improvement.
As for the “a place for everything, and everything in its place” idiom … I finally figured out how to conveniently store our cheap little 110 volt “DustBuster” type sweeper … that we use all the time to sweep kitchen crumbs off the wood floor … by making a scrapwood holder from some recycled maple (antique letterpress type galley trays) and a chunk of 5/8” oak dowel. The best part was that Brenda loved it and commented, “why didn’t you save that for my birthday?” (Cough, cough … because I already bought you something. 😉 )
Archiving to blog: A 1958 Packard Hawk selling on Ebay
Posted By RichC on August 10, 2021
It is always interesting to see the handful of other 1958 Packard Hawks changing hands considering the one passed down to me was originally my father’s Uncle Ed’s car (bought new in Toledo), then DadC’s from 1973 until he passed away and became mine (Dad loved taking it to car shows). I’m still dragging my feet on the brake work, but still enjoy it when someone sends me an auction or Ebay “for sale” link.
Studebaker Packard Hawk Supercharged V8 Coupe.
Local Pickup ONLYSeldom seen 1958 Packard Hawk. Built on the Studebaker Golden Hawk platform. One of 588 EVER BUILT. Running 289 supercharged V8 with 275hp engine. 3 speed automatic transmission. Original paperwork for this east coast car shows that it came to Michigan in 1961, then Lancaster, PA in 2017/18. Purchased in 1962. Daily driver until 1968 when it was parked with hopes of restoring it years later. Purchased by current owner in 2017/18 with the hopes of restoring it, but after seeing the condition of the frame, the project has sat in indoor storage. Was running when it went in to storage in 2018. Leather interior and full gauges. Factory supercharger. Optional Posi-rear axle and wonder bar radio. Looks to be 100% correct and complete. Car has little visible rust on the outside, but the frame is extremely weak. Trunk floor has several patches visible. Underside needs to be re-built. Deserves full restoration.
More photos archived below:
Music Monday: Does Anybody Really Know What Time It Is?
Posted By RichC on August 9, 2021
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Dennis Gartman and his thoughts on Cryptocurrency Investing
Posted By RichC on August 8, 2021
Dennis Gartman comments on cryptocurrency (August 3, 2021) and whether or not he is investing in a “Tinker Bell effect” asset.
The 3-minute segment with Dagen McDowell was on the Fox Business program “Mornings with Maria.”
| Dennis Gartman on Crypto – 3-min | 8/3/2021 |
Dennis Gartman has been directly involved in the Capital markets since August, 1974, right after his graduate work at the North Carolina State University.
Will this pair of Sperry boat shoes last for the rest of my life?
Posted By RichC on August 7, 2021
Besides making one of those “senior moment” gaffes by switching my mini split HVAC unit accidentally from AC to “HEAT” (I was roasting in my office), I bought a new pair of shoes after being disappointed in the cheaply made pair that I bought last year. Those that read this blog know that I’ve been nearly a lifetime wearer of Sperry branded boat shoes and that I have raved many times about the shoes and how I’ve made favorite pairs last far longer that the manufacturer would want.
This time around I opted for the Mako Canoe Moc Boat Shoe that is less sailing oriented and a bit more day to day comfortable (which is what I wear mine for 95% of the time anyway). So as usual, I’ll do my best to break them in gently and wear them for casual outings at first .. before relinquishing them to day to day repaired-too-many-times “beater” shoes. I’ve yet to make a decision on insoles since they are super comfortable right out of the box.
As I looked at my old worn boat shoes, I contemplated if this pair would last for the rest of my life – YIKES! Perhaps it was reading about the recent passing of organized labor leader Richard Trumka, but in any case, this the first time I’ve thought about something other than tools that may last the rest of my life? Hm … maybe my kids will bury or cremate me while I’m wearing them? (I’m not “preoccupied” with it, but need to give cremation a bit more thought) MORBID, eh?
| Truth for Life‘s Alistair Begg talks about Cremation | 12/8/2020 |
mor·bid - /ˈmôrbəd/
- characterized by or appealing to an abnormal and unhealthy interest in disturbing and unpleasant subjects, especially death and disease.
Desultory - des-uhl-tawr-ee, -tohr-ee
- lacking in consistency, constancy, or visible order, disconnected; fitful: desultory conversation.
- digressing from or unconnected with the main subject; random: a desultory remark.