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For those afraid of options

Writing Covered Calls is a conservative strategy where you buy a stock that you would like to invest in and then write a call option against that stock. This is a cash generating strategy that not only offers downside protection that you otherwise wouldn't enjoy if you just bought the stock, but also gives you the ability to generate a consistent monthly income, for only minutes of your time. However as with all option trading strategies, there are pitfalls that you will need to avoid if you are to be consistently profitable. What if the stock price falls dramatically? Your calls really do nothing to protect you against losses as the market falls. Sure, you get to keep the premium from selling the call (when it expires worthless), but you still own the stock, which is now worth considerably less than what you paid for it. The problem then becomes that you will not be able to sell another call at the original strike price. Instead, the next time you will have to sell the call at a l...

Targeting Your 401(k) - Congress has an eye on the tax break for your retirement.

The Wall Street Journal - Opinion NOVEMBER 14, 2008 You may have heard about Argentina's plan to nationalize private retirement accounts. Some Democrats on Capitol Hill are inspired, and with their big election victory they may get the chance to test Peronist ideas in America. Meet Congressmen George Miller and Jim McDermott, who are eager to change the way Americans save for their golden years. They'll also be powerbrokers in the next Congress. Mr. Miller, who came in with the Class of 1974 from California, chairs the House Education and Labor Committee. Mr. McDermott, who has represented Seattle the past two decades, runs a House Ways and Means subcommittee on income security and family support. Before Election Day, the Congressmen began to target the $3 trillion in 401(k) accounts held by about 60% of Americans. Mr. Miller called the system "an inadequate vehicle" that "has not been terribly successful" in encouraging retirement savings. He wants a "...

It's Only Bankruptcy

Putting a Foundation Under the Financial System By David Ignatius The Washington Post Thursday, October 9, 2008; Page A21 In William Saroyan's Depression-era drama "The Time of Your Life," there is a laconic character called "The Arab" who keeps muttering the play's signature line: "No foundation. All the way down the line." The global economy feels that way this week. No foundation, no liquidity, no safe haven, no exit . . . all the way down the line. That's really the heart of the problem -- global financiers sense that they're standing on quicksand. They don't trust other institutions, so they're hoarding their cash as if it were a lifeline, in the hope they can survive the panic. The problem is that the sum of all these rational individual decisions, in which each player in the global economy tries to protect his own self-interest, is the collective catastrophe we are witnessing. That's why the answer -- the foundation, if y...

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