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It’s summer and the people are stupid

One reason I’m late and sparse this morning:


Second reason: I’m attacking the paperwork that I need to secure  a mortgage. Heck you have to be totally daft today not to get an under 4% mortgage. Do the dumbest investing — an S&P 500 index fund and you should be able to do at least twice that. The dumbest, easiest mutual fund called FMILX — which even Morningstar rates highly — has averaged 10.32% over the past ten years. Which is far better than a slap in the belly with a cold fish. Don’t trust me? Click here.

Oh, yes, that was past performance. But I’m optimistic for the market. How can you not be? The only bubbles I see is New York City real estate and some too popular ETFs,

Are the Ukrainians stupid or what? They still haven’t figured out that Russia gave the rebels anti-aircraft missiles and the rebels are using them on anything that flies in the skies. Dah! Today’s news:


El Al is reputed to be the only airline in the world sporting anti-missile defense on its planes. When the missiles fly, El Al detects them and lets out shards of aluminum (or something) which fools the missiles. Apparently it does other things as well, like change direction and do other secret things. Why don’t all airlines have anti-missile defense? Apparently it’s expensive. $1 million a plane! The insurance companies would pay?

Apparently some insurance companies are stupid, also. I read this:

After Malaysia Airlines Crashes, the Payments Are Piling Up for Air Insurers

The carrier’s two crashes in less than five months could carry a high cost for the aviation insurance industry, especially as its policy lacked a standard limiting clause.

KUALA LUMPUR, Malaysia – Malaysia Airlines’ two crashes in less than five months are sending tremors through the aviation insurance market – not least because the carrier’s $2.25 billion overall liability policy is mysteriously missing a standard phrase that usually limits insurers’ payments for search-and-rescue costs.

The looming payments are coming as underwriters face other claims, because of the shelling of Libya’s main airport a week ago, with 20 planes damaged, and a pair of deadly Taliban attacks on Karachi’s airport in Pakistan.

Have no fear. Camera makers are getting smarter, while we’re getting dumber. From the instruction manual for Canon’s new G1X Mark II. (I love this.)



 That’s it. I’ll get funny tomorrow morning when I’ve recovered from assembling and filling out all the material my bank needs to lend me money. They’re OK with my investing the money, not using it to buy a house (though the mortgage will be secured by my New York apartment). They told me everyone and their uncle have done what I’m dong now. It’s always good to be ahead of the curve!

Harry Newton who now believes each of us should get a chest x-ray once a year. Make the x-ray part of your annual physical. And if you don’t have an annual physical, get the chest x-ray anyway. It may save your life. It saved my friend’s life. She asked her doctor, “What test would you do that the insurance company won’t pay for?” And the answer was a chest x-ray. It discovered a peach-size malignant tumor that was not bothering her — but would have in a year or two.The chest x-ray saved her life. Enough with the lectures, already.

When I ran my own business, I used to dread the summer. It seemed to bring out the stupid in people. Fight stupidity.