I got flack from saying yesterday I was worried about owning too many houses.
A reader wrote,
And so, you sell your real estate and do exactly WHAT with the money?
Thanks, but I’ll hold on to the dirt and collect rent. Income is good.
Obviously each case is different. If I owned much property, some of it bought for speculation (i.e. no tenant) and was leveraged very highly, I might consider selling some property. Would make me sleep sounder.
Donald Trump is a great businessman. A great businessman!
I couldn’t resist re-printing this story from Vanity Fair Hive:
RENT AT TRUMP TOWER SURGED AFTER DONALD TRUMP STOPPED SELF-FUNDING HIS CAMPAIGN
In March, when Trump was still paying for his presidential run mostly out of his own pocket, his campaign spent $35,458 to rent its headquarters in Trump Tower. Last month, however, that figure surged to $169,758, even as the number of paid campaign employees and staff dropped from 197 to 172 over the same period, the Huffington Post reports. The sharp increase in campaign spending appears to correspond to a large infusion in cash from outside donors. According to the Huffington Post, the amount Trump Tower has charged the campaign for rent has steadily increased since May, the same month that Trump clinched the nomination and inked a deal with the Republican National Committee to fund his campaign. At the end of May the campaign doled out $72,800, followed by $110,684 in June, and $169,758 in July.
Trump Tower isn’t the only Trump property to have benefited. Over the same period, the Huffington Post reports a number of Trump’s namesake golf courses and restaurants have earned a total of $260,000, citing F.E.C. records. In July alone, the campaign spent $495,000 on Trump’s air travel, which is operated by a company that he owns. The Washington Post estimated that the Trump clan has pocketed $7.7 million as a result of the campaign’s expenditures.
The Trump campaign’s decision to spend money on Trump-owned entities is not new, nor illegal. But it isn’t just Trump’s tendency to favor his namesake companies that is raising eyebrows. The business mogul has continually confused veteran political watchers by spending inordinate sums on seemingly trivial expenditures, such as merchandise, while neglecting other crucial areas. For instance, in the month of July, the Trump campaign spent more money on hats ($1.8 million) than on payroll ($500,000), the Wall Street Journal reports, despite its growing need to bolster its on-the-ground campaign staff. And while Clinton spent $61 million between June and July on television ads, Trump’s campaign spent just $4.8 million. (The campaign’s first ever television ads were broadcast in four states over the weekend.) The Trump camp also made the curious decision to pay a Web-based marketing and design company, Giles-Parscale, $8.4 million last month to handle its digital outreach, despite the
company’s total lack of experience working in politics or on campaigns, Wired (Magazine) reports.
The greatest bicycling safety gadget ever
Bicycling is fun, good exercise and will get you places often faster than a car or bus. I ride my bicycle every day I’m in New York.
Most people think biking in New York City is about as close to insanity as it gets.
To stay alive, you need two things:
1. An ultra-loud horn to tell texting passengers you’re coming. (It scares the crap out of them, but saves you hitting them.)
2. An ultra-bright flashing white light to alert cars in front of you to your existence. It’s amazing how the cars will pull over when they see your irksome flashing light in their rear view mirrors.)
This $60 gadget, which fits on your handlebars, does both. It’s worth every penny. I couldn’t live without mine. Buy it here.
Arianna Huffington’s new venture is called Thrive Global
On her opening web site, she explains her philosophy that led to Thrive Global:
“For far too long we have been operating under a collective delusion that burning out is the necessary price for achieving success. This couldn’t be less true. All the latest science is conclusive that, in fact, not only is there no trade-off between living a well-rounded life and high performance, but performance is actually improved when we prioritize our health and well-being. It’s time to move from knowing what to do to actually doing it.”
She plans seminars, workshops, web advice, etc. I like her idea. I signed up for more info. Click here.
CHECK. CHECK. CHECK.
It’s been fun. They keep sending me “Customer Loyalty” cards. The cards give me a discount if I park at one of their garages. But they keep messing up with the cards. Yesterday, I got this one:
Remember our motto: CHECK. CHECK. CHECK.
Please watch Stephen Colbert’s Hilarious Fake Interview With Ryan Lochte
Wonderful newspaper headlines
+ Man Kills Self Before Shooting Wife and Daughter
+ Something Went Wrong in Jet Crash, Expert Says
+ Police Begin Campaign to Run Down Jaywalkers
+ Panda Mating Fails; Veterinarian Takes Over
+ War Dims Hope for Peace
+ If Strike Isn’t Settled Quickly, It May Last Awhile
+ New Study of Obesity Looks for Larger Test Group
+ Typhoon Rips Through Cemetery; Hundreds Dead
Harry Newton, who advises everyone not to respond to the barrage of ads Ken Fisher is mounting on CNBC. You do not need him. A simple Vanguard ETF, e.g. VTI, or S&P 500 index ETF, e.g. SPY, works perfectly fine with much less strum and drang.