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Ira Krakow

Ira Krakow


Dernière mise à jour : 28/12/2009

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Sexe : Male
Statut : Marié(e)
Age : 63
Zodiaque: Taureau

Ville : BOSTON
Région : Massachusetts
Pays: US
Date d’inscription :: 17/06/2006

Archive du blog
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mercredi, août 05, 2009 

dimanche, juin 28, 2009 
Travel over, under, around, and through the Eiffel Tower.


mercredi, juin 24, 2009 
samedi, octobre 06, 2007 
I wrote a tutorial for thestreet.com on how to pick stocks based on their dividend.  It's at:

How to Pick Dividend Stocks at thestreet.com

I also wrote a series of 6 tutorials on aggressive stock picking for thestreet.com university.

Enjoy!
jeudi, août 23, 2007 
Christopher Penn, of The Financial Aid Podcast, interviewed me recently.  We discussed the mechanics of subprime morrtgages, investing in student loans, how to start investing in the market early, saving for college and retirement, Cramer's Rant, and many other topics.   

Listen to Christopher Penn interviewing Ira Krakow  (MP3 file, 35 minutes).
Show Notes for Interview
About Financial Aid Podcast
Add Financial Aid Podcast to iTunes
vendredi, juillet 20, 2007 
vendredi, juillet 13, 2007 
I am a contributing writer to thestreet.com and stockpickr.com.  My wife and I just returned from Spain and I wrote an article on whether Spanish stocks are a good investment.  

How to Play the Spanish Stock Market
lundi, juin 18, 2007 

Humeur actuelle :  fâché
Intel and Microsoft are making sure that 1 billion poor children in the world will permanently be excluded from cheap PC access.

MIT's One Laptop Per Child (OLPC) project, the brainchild of Professor Nicholas Negroponte, has built a revolutionary laptop for $100 that has wi-fi, email, word processing, and so on - a full featured Fedora Linux based laptop, with an 8 hour battery life that can be recharged by hand crank. 

Unfortunately, it will NEVER see the light of day because Intel and Microsoft are combining to dump an obsolete x86 based laptop, with a mere 2 hour battery life, in these developing countries.  The Classmate PC costs $400 to build but will be sold for $200 to kill the  the OLPC computer.

PLEASE REDISTRIBUTE THIS LINK TO ALL YOUR FRIENDS AND REPOST THIS ON YOUR BLOG.  THANK YOU.
lundi, mars 19, 2007 

Read and listen to all my articles!

I'm not a lawyer.  However, I want to understand the recent ruling of the DC Circuit Court of Appeals which appears to set the stage for the Supreme Court striking down handgun laws.  The Second Amendment to our Constitution states:


A well regulated militia, being necessary to the security of a free state, the right of the people to keep and bear arms, shall not be infringed.


On March 9th, the DC Circuit Court of Appeals, in Parker v. District of Columbia, ruled that the Second Amendment protects the individual's right to bear arms.  According to the Brady Center to Prevent Gun Violence, this is the first time that an appeals court rejected a gun law on second amendment grounds.  The Supreme Court frequently accepts cert petitions from the DC Circuit, so it is a good possibility that the Supreme Court will hear the case if it is appealed.


The wording of the Second Amendment is unclear.  If the emphasis is on "a well regulated militia" then the "right of the people" is tied to the collective right of the government to keep and bear arms.  However, if the emphasis is on "the right of the people to keep and bear arms", then this is an individual right.  If the latter, how can any gun control laws be legal?


The case was brought by Shelly Parker and five others, who wanted to possess what they called "functional firearms" inside their homes.  They wanted to possess loaded handguns to ward off intruders.  The District of Columbia argued that the Second Amendment "protects private possession of weapons only in connection with performance of civic duties as part of a well-regulated citizens militia organized for the security of a free state."  In other words, the right to bear arms only extends to citizens performing their duties as part of a well-regulated militia.  According to Decision of the Day, a blog about Federal appellate decisions, the DC Circuit is divided.


Writing for the majority, Senior Judge Silberman concludes that the District's reasoning is far off-base. Not only does the majority hold that the Second Amendment is alive and well, but it also rejects the view of most other circuits that the Second Amendment encompasses only collective rights and not individual rights. Instead, in a tour de force of constitutional interpretation, the Court joins the Fifth Circuit (and several state appellate courts) in concluding that the Second Amendment protects an individual's right to own firearms.  Under this analysis, the District's efforts at gun control are clearly unconstitutional.


However, Judge Henderson, the minority judge in the 2-1 decision dissented.

She cynically describes the majority's opinion as a superfluous addition to the Second Amendment's "dueling dicta," in which "each side of the debate offering law review articles and obscure historical texts to support an outcome it deems proper." But she thinks the debate is wholly academic in this instance, as the Second Amendment only applies to states, and the District of Columbia is not a state.


The last time the Supreme Court addressed the 2nd Amendment directly was the 1938 decision, United States v. Miller.  The decision contains arguments which can support both sides in the gun control debate.  Here are the facts, according to the wikipedia article:

Jack Miller and Frank Layton were suspected bank robbers and moonshiners being watched by agents of the Department of the Treasury. On April 18, 1938 Miller and Layton were arrested for transporting an unlicensed sawed-off shotgun (defined as "having a barrel less than eighteen inches in length") across state lines while engaged in interstate commerce, in violation of the NFA.


This was a federal case and was therefore heard by the United States District Court for the Western District of Arkansas. On January 3, 1939, U.S. District Court Judge Heartsill Ragon agreed with the defense's claim that the NFA was intended to restrict the individual ownership and possession of arms, in conflict with the Second Amendment to the United States Constitution.


    The National Firearms Act is not a revenue measure but an attempt to usurp police power reserved for the States, and is therefore unconstitutional. Also, it offends the inhibition of the Second Amendment to the Constitution -- "A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed."


Ragon declared that the National Firearms Act of 1934 was therefore unconstitutional and void. U.S. Attorney Clinton R. Barry appealed to the Supreme Court.


The Court accepted the case.  The attorneys for the United States asserted that:



  1. The NFA is intended as a revenue-collecting measure and therefore within the authority of the Department of the Treasury.

  2. The defendants transported the shotgun from Oklahoma to Arkansas, and therefore used it in interstate commerce.

  3. The Second Amendment protects only the ownership of military-type weapons appropriate for use in an organized militia.

  4. The "double barrel 12-gauge Stevens shotgun having a barrel less than 18 inches in length, bearing identification number 76230" was never used in any militia organization.


So there's ammunition, so to speak, for either side of the argument.  For the gun lobby, it appears that any military-style weapon, such as a sawed off shotgun, a machine gun, or an assault rifle, must be OK for a private citizen to own.  In fact, if the Supreme Court rules this way, handgun ownership may be the least of our problems.  For the anti gun lobby, the Court specifically let the National Firearms Act stand, thus allowing both the states and the Federal government to continue to create laws to restrict gun use.  If the Court takes the case, the law appears to support either side.



lundi, mars 12, 2007 

Last Monday, March 5, 2007, CNBC launched the Million Dollar Portfolio Challenge.  The idea is that you get $1,000,000 of play money (CNBC Bucks) to buy stocks with, just like in the real stock market, without having to risk your own money.  At the end of the contest (May 27, 2007), however, you can walk away with $1,000,000 of real money, if your portfolio performs the best.  Unlike the lottery, signing up is free.  You can enter the contest here.


I created a discussion forum to track the contest's progress.


So I signed up on Monday, right before the start.  Here I am, one week later, among the top 15%, comfortably sitting at #36,787.  Nine more weeks to go.  Plenty of time to catch the leader.  All I have to do is pick the right stocks and the million bucks is mine.


Not so fast.  The contest is rigged.  One person, Nancy Beaumont, has captured 11 of the top 20 places.  According to the scuttlebut on the Internet, she opened 800 accounts under her name.  Possibly, she picked 800 stocks, and bet her million dollars of play money on each stock in a separate account.  As of 5:19 pm on Monday, March 12, 2007, she's in first, second, third, sixth, seventh, eleventh, twelfth, and fifteenth place.  (The link I gave is live, so maybe CNBC will have changed this by the time you follow it.)  I feel like I'm competing with 800 Secretariats in the Kentucky Derby.


Another problem:  insider trading.  The Portfolio Challenge is a game.  A hedge fund manager who might have access to inside information - say, a takeover - could theoretically exploit that knowledge here without having to answer to the SEC.  According to the FAQ,  CNBC can declare that a trade is inappropriate, but how can they police it?  Elliott Spitzer has gone on to bigger and better things.


Insider trading may have already happened.  Syke Enterprises (SYKE), picked by all the leaders, ended up as the highest percentage gainer the next day.  How could all those people be so clairvoyant?


Another stock, New Century Financial (NEW), which specializes in subprime mortgages, was the most active stock on Day 1.  Unfortunately, it tanked on Day 2, prompting hundreds of thousands of simultaneous sell orders, temporarily shutting down the CNBC game server.  Because of the overload, some people reported that their portfolios were wiped out.  The reason NEW tanked was that the lenders shut off the company's borrowing power, forcing the company to be delisted.  This led to yet another glitch - what was the last price to value NEW?  It seems that there's a wide discrepancy between the last trade and the posted price for the purposes of the CNBC game.


So, you ask, why should I complain?  After all, it's only a game, right?  I don't think that's how CNBC sees it.  CNBC bigwigs rang the opening bell at the New York Stock Exchange.  Is the NYSE endorsing the game?  There are even celebrity traders, like Johnny Bench, who have their own special Web page.


Insider trading, system shutdowna, competing against impossible odds...On second thought, maybe it is like the real stock market.