Darwin's Finance » Stocks

Elliott Wave: Dow 1,000 Here We Come?

Darwin — Fri, 09 Jul 2010 12:46:16 +0000

There are often obscenely optimistic, pessimistic or outright ridiculous titles to get clicks in major financial outlets and the vast majority of the time it’s complete bunk. From the book Dow 36,000 to predictions of gold prices at astronomical levels, it’s a game of one-upmanship to see who can devise the most outrageous theorem and use some estimates and historical black swans to make the numbers fit the title. Well, this week, the New York Times ran an article on a chartist predicting that the Dow will drop below 1,000, losing over 90% of its value over the next several years. That’s right, a 90% correction from here.

On one hand, you’ve gotta question why someone like this even gets any press, but on the other, what if he’s right? And he does hold some legitimacy in trading circles as the head of Elliott Wave International and heads the Market Technicians Association. In decades past, Elliott Wave theory caught on by predicting trends in the market based on technical analysis, but logic and history dictate that more recently, the predictions are not as accurate given the vast amount of information available to all participants and the notion that “if everyone can predict it, it would have happened already” right? If you knew with high assurance that the market would be 20% lower in a month, wouldn’t you be selling already instead of next month?

How to Invest in Dow 1000 Scenario

The best way to invest is to not really invest at all under a scenario like this. If we encounter a situations where prices decline precipitously, you’d want every dollar you have at your disposal within your possession. In a deflationary environment, just having cash under the mattress is earning a positive return when all other asset prices are declining. This is hard to envision since most of us have never seen a truly deflationary environment for a sustained period of time. However, note that those holding cash from the lows of last march missed a nice upward move in excess of 60% from the bottom. Some joke that the best investment would be a gun and lots of bottled water since it would mean the world has pretty much come to an end.

Could Dow 1000 Really Happen?

Well, anything can happen. But technical mumbo-jumbo aside I don’t see how such a scenario is plausible, even under a double-dip recession scenario. For equities to be worth 10% of their current value, dividend yields would become astronomical (for those companies still paying out a dividend) and with companies with any earnings whatsoever (surely there would be some), their price-to-earnings ratios would be so low that savvy investors would be forced to continue buying at those values. There’s a natural ebb and flow of buying and selling in a free market, with overshoots in between, as we saw during the financial collapse. When it was evident that Armageddon was not upon us, stocks rocketed back within months. I do envision if the economy falters, unemployment stays high and we enter a new Recession, it’s plausible that stocks decline substantially again, but they’ll be back. Much of the bad news is currently baked into stocks now. And I don’t make predictions on “price targets”, but I will predict what WON’T happen – Dow 1000.

Thoughts?

Should BP Fold and Suspend Dividend Payments to Shareholders?

Darwin — Fri, 04 Jun 2010 01:44:23 +0000

There is a growing chorus of angry groups calling on BP to suspend its dividend payments to shareholders until this whole matter is settled and all parties affected are made whole, however that is ultimately determined. As any cause that has a tinge of populist support, politicians jump on the bandwagon. So, now various members of Congress are calling for BP to suspend its dividend. There are a few schools of thought here and I’m interested in where you stand.

Why BP Should Suspend Its Dividend

There’s Going to be a Very Big Bill – The total tally for this disaster ranges from anywhere from a few Billion dollars to over 30 Billion dollars over multiple years. It’s very early in the game and these numbers could easily increase dramatically. What if there are multiple health claims to be paid to workers involved in the cleanup? What if the underwater plumes that are so poorly understood now turn out to linger for decades and destroy even more wildlife and beaches? What if the leak can’t be stopped? Many feel that every dime should be preserved now to atone for the disaster as viable calculations of claims are determined.

It Just Smells Rotten – While fishermen and cleanup workers are inhaling potentially deadly fumes and miles upon miles of beaches and wildlife are destroyed, BP continues to shell out Billions of dollars in dividend payments each quarter? Regardless of the financial viability of the company, it just smells rotten. While not totally related, it’s akin to the banks that received TARP funds cutting their dividends previously and only reinstating them once the dust settled. Some feel that BP should only reinstate its dividend once it’s clear that all remediative activities have been accounted for and all claimants have been paid.

Why Congress Should Butt Out of BP’s Dividend Payment Practices

Congress Should Butt out – Congress should not be involved. BP will ultimately be held liable for all viable claims and will pay accordingly. What happens to their dividend between now and then is really no business of theirs. The company is on sound financial ground, has a relatively low debt load and this artificial intervention could actually cause panic and further declines in shares if investors view a dividend cut as a true sign of concerns over financial solvency.

Shareholders Have Been Punished Enough – As noted above, investors took on the risk commensurate with buying a single issue, in this case, BP, but they should not be subject to governmental intervention and manipulation of share prices.

Law of Unintended Consequences – As a friend of mine over at Money Energy so eloquently pointed out, further declines in BP’s share price will have a ripple effect on the broader economy as a whole, especially in Europe where there are substantial holdings in pensions and other coffers tied to BP. On one hand, one could say, “Well, that’s business and perhaps all their eggs shouldn’t have been in one basket”. On the other hand though, artificial intervention from the US in BP’s dividend practices is inappropriate (aside from whatever legal proceedings will cost for years to come).

The Reality of BP’s Dividend

Ultimately, I don’t believe any entity can “force” BP to cut its dividend. If anything, they may be shamed into doing so and to try and help preserve what little public image they have remaining, perhaps they’ll do so. But at this point, it doesn’t appear as though this disaster will drive BP into insolvency and force liquidation later where plaintiffs could have used the money being paid out this quarter. I think if they do ultimately cut their dividend, the stock will take a bit of a haircut because the rich dividend is the only reason many investors are in the stock now, but I don’t think BP will ultimately need the money, even if the bill hits tens of billions over the next decade. Their cash flow and revenues from oil are just too great for this to wipe out the company unless this thing goes worse by a full order of magnitude.

What Are Your Thoughts?

Darwin’s Portfolio Update: Almost Doubled the Return of the S&P500

Darwin — Thu, 08 Apr 2010 10:34:09 +0000

In March, I had provided my first portfolio update in some time, so I figured I’d follow up with an April update. In that initial update, I laid out brief rationale and background on each purchase. Here, I’ll just provide returns from March 11 to represent return for the portfolio.

Since the March update, an average weighted portfolio of my holdings would have returned 5.4% vs. 3.0% for the S&P500.

Baidu.come (BIDU) Ã¢â‚¬â€œ Up 13%

Apple (AAPL) Ã¢â‚¬â€œ Up 7.1%

IMAX (IMAX) – Up 14%

Chiplotle Grill (CMG) Ã¢â‚¬â€œ Up 9%

Green Mountain Coffee Roaster (GMCR) Ã¢â‚¬â€œ Up 4.4%

Google (GOOG) Ã¢â‚¬â€œ Down 2%

Pimco Muni Fund (PMF) Ã¢â‚¬â€œ Up 5%

Vimplecom (VIP) Ã¢â‚¬â€œ Down 10%

Gold Miner Junior ETF (GDXJ) – Up 10%

Goldman Sachs (GS) Ã¢â‚¬â€œ Up 3.2%

This includes all 11 stocks featured last month and accounts for a 10% loss in Vimplecom. Aside from Google, everything else was up. Additionally, PMF is a high yield muni ETF which is carrying a tax equivalent yield in the high single digits, depending on your tax bracket. IMAX has just been on fire with these 3D movies coming at us left and right. That buy-what-you-know pick has turned out to be spectacular since entry earlier this year. BIDU’s also been on fire with Google’s confirmed exit from China.

So you don’t think I’m patting myself on the back too much, I want to share that many of the stocks held in the portfolio carry a higher Beta than the broad market S&P500 index, so I should expect to outperform in an up month.

Look out for an update soon on the Dual Short Leveraged ETF strategy which provides returns that are very much non-correlated with the market at large and has thus far been very lucrative.

PEG Ratio: Why It’s More Relevant than P/E for Stocks

Darwin — Tue, 06 Apr 2010 11:36:47 +0000

While many individual investors are familiar with the conventional Price to Earnings (P/E) ratio, the PEG ratio isn’t cited nearly as often but it really puts a stock’s valuation in the proper context. While a P/E ratio will tell you whether a stock is “highly priced” just based on a forward earnings expectations or trailing earnings reports, a PEG ratio is the P/E ratio divided by the stock’s long term annual growth rate. Now, the problem is estimating just what that growth rate will be. But for relatively mature companies with transparent investor updates, it’s not too tough to reasonably discern whether you’re in the right ballpark.

PEG Ratio vs. P/E Ratio:

Consider two stocks.

1) Mature industrial company with steady earnings year over year. P/E = 10.
2) Nimble, fast growing company. P/E = 45.

Let’s say the broad market is trading at an aggregate Price to Earnings ratio of 12. One investor may view stock 1 as a “value” and stock 2 as being absurdly overpriced. However, when looking at each in terms of their projected growth rate, the pendulum swings the other way. If stock 1 is a utility that’s expected to grow at about 5% per year and stock 2 is growing at 30% per year, in the context of future growth, the PEG ratios tell a different story:

1) Stock 1 PEG ratio = 10/5 = 2
2) Stock 2 PEG ratio = 50/25 = 1.5

Stock 2 now appears to be much more of a value. Often times, stocks with high growth rates are more volatile and prone to massive price swings. But if you’re able to hang on to a stock for a few years and the projected growth rate assumptions are reasonable, you’re often rewarded with a higher net return. This is broadly reflected in the long term outperformance of tech stocks, biotech stocks, small caps and emerging market stocks vs. their counterparts.

When I provided my last portfolio update you will have noticed that many holdings fall into the stock 2 bucket since I’m young and have a long time horizon and my ultimate goal is to maximize investment returns. Conversely, when I’m 55 and approaching retirement, I will likely be more focused on stability and income via high yield investments. So, there’s no “right” way to invest, but it’s important to consider the context of your investments as well as your time horizon.

Do You Use the PEG Ratio in Evaluating Stock Purchases?

More Investor Learning Articles:

Darwin’s Portfolio – The Full Monty

Darwin — Thu, 11 Mar 2010 12:48:20 +0000

The Full Monty. My trading portfolio in all its glory.

I used to update readers on my portfolio holdings and performance at Everyday Finance, but that blog was recently locked up in unceremonious fashion by the Blogger team at Google, so until that is resolved, there may be some cross-content over here at Darwin’s Finance.

Basically, I have various investment accounts including 529s/ESAs for the kids, a 401K, my own IRA mutual funds and self-directed and I have this traditional trading account. I had posted last week on how I’ve been making double digit returns regardless of market direction by selling short leveraged ETF pairs simultaneously. It’s really been working out spectacularly. Feel free to revisit that article for the short portion of the portfolio. I also have a decent sized Stock Option portion of my portfolio. On the long end though, these are the stocks I own with a brief explanation of why I own them.

Baidu.come (BIDU) – Dubbed the Google of China, this stock has benefited of late from Google’s troubles in China, well, actually Google having a backbone and standing up to China’s recent hack attacks. That being said, by owning both Google and Baidu, I’m confident that I’ll capture the net growth in China which is going to grow orders of magnitude during the next several years. They’re both holders.

Apple (AAPL) – As you can see, Apple’s been up big since entry – well over 100%. When everyone was running for the exits in early 2009, I loaded up on Apple with 100 shares. It was a huge portion of my portfolio, but being a recent iPod enthusiast myself and seeing the euphoria over the iPhone versions to date, I became a believer. Along the way, I sold some covered calls to collect income and I’ve since unloaded more than half the shares because the position was starting to comprise too large a portion of my overall portfolio. It freed up some extra cash for other plays to diversify. I’m not complaining though, with Apple breaking through new highs on news of their iPad launch date confirmed.

IMAX (IMAX) - When the Avatar buzz was building, I snatched up shares. Then I Saw Avatar and became a believer. IMAX 3-D is the future of movies in my opinion. They’re able to garner massive premiums on tickets and any future action flick that wants to be an “it” movie for the season will be forced to launch in the IMAX format. Shares were further bolstered this week by the wild success of Alice and Wonderland. I’m just sayin’ wait for Clash of the Titans! (a childhood favorite being remade and launched next month in IMAX 3-D).

Chiplotle Grill (CMG) – This was a recent purchase. From the Warren Buffet “buy what you know” playbook, after eating in one of these for the first time and having researched the stock without ever pulling the trigger, I was sold. I looked at the chain, future growth, the arms-distance help from McDonald’s, the “health/natural” movement with food following movies like Food Inc. and general attitudes in America, I see huge potential for the franchise.

Green Mountain Coffee Roaster (GMCR) – This is another one of those “Buy what you know” stocks. I started buying and drinking their flavored coffees over a year ago and I’m kicking myself for not buying shares sooner. They’ve greatly outperformed the market and continue to rally on growth prospects. People just love their coffee!

Google (GOOG) – Even though they wiped out my blog, Google’s incredible. If Google stays in China, you want to own it. If they don’t they’ll still do fine. With print advertising dying a slow death and Google gaining market share consistently, they’re really running like a fine-tuned machine. They have the best and the brightest engineers figuring out more and more ways to organize and monetize the world’s data. This is one of those 21st century stocks everyone should own.

Pimco Muni Fund (PMF) – I bought this one when I wrote about the high yield muni ETFs and how you could get incredible 8% tax-free yields payed monthly and without interruption. Well, a year later, I’m still collecting my tax-free dividends monthly. I still think at current yields, PMF holds promise over the yields you can get even from the highest online savings rates.

Vimplecom (VIP) – This is a Russian telecom I’ve owned for some time. At one point, it was up 100%, then down 50%. It’s quite volatile, as is Russia. I intend on holding as an emerging market play on Russia.

GDXJ (Gold Miner Junior ETF) - While I’ve knocked the gold rush as hype in prior posts, I bought this ETF based on my presumption of continued dollar weakness and the fact that this ETF is levered to gold, as opposed to buying a gold ETF itself given tax differences in a bullion ETF vs. a company ETF. You may have noticed I included the 2X gold ETFs in my long/short strategy I referred to earlier as well, so if gold takes off and that pair falls apart, the underlying GDXJ will offset any losses. It’s up marginally so no complaints.

TYH – Ignore this one. It’s part of one of those double-short ETF pairs trades but I opened the position with long stock and it didn’t reconcile my short stocks, so it’s stuck in this section of the ledger.

Goldman Sachs (GS) – Basically, of all the big banks, financials or whatever you want to call them post-TARP, Goldman was the standout winner. They were solvent, they didn’t need TARP funds, they had incredible proprietary trading results and Warren Buffett was snatching up warrants. However, as the political ire was directed toward Goldman for their role in the crisis and $700,000 bonuses projected, the stock has been under fire since. It’s moved up a bit, but I did buy high. I’m holding though, I still believe in them long term.

If you like ETFs over stocks, check out ETFBase where I just outlined the top 400%+ gainers over the prior year from the March lows.

What Are Your Favorite Stocks?

Business Development Companies – Excellent Overlooked Investment Strategy

Darwin — Thu, 14 Jan 2010 15:56:17 +0000

A Business Development Company (BDC) is a niche investment category that even many high yield investors don’t have much familiarity with. While the large banks, energy trusts and real estate investment trusts (REITs) are widely known for their high yields, the Business Development Company opportunity goes widely unnoticed. Not familiar with BDCs? Well, think of a Business Development firm as a lender (and sometimes, investor) of last resort to struggling companies starved for cash or even fledgling companies with high potential willing to cede a stake, control or above-market interest rates in exchange for a cash infusion.

BDCs will generally lend to smaller companies and startups at very high interest rates (think corporate payday lenders…but with more class) and often take equity stakes in these companies as well. In a nutshell, these firms have vast experience in going into a struggling firm, assessing its prospects, making changes if necessary (since they’re holding the cash) and ensuring a favorable return for shareholders and principals in the company. They are much better at this than individual retail investors. They have the access and experience that retail investors don’t. They are also diversified. While some Business Development firms may focus on a particular sector, like say, Tech firms or energy exploration firms, etc., they hold stakes in several companies at once, smoothing out risk – because defaults do occur, especially in these smaller start-ups.

Business Development Strategy for Investment

Investors seeking to build a high yield portfolio, perhaps in a tax-advantaged self-directed IRA, may want to consider making room for 1-2 BDCs in their mix. By their very nature, BDCs are optimal income generators. As mandated by the Investment Act of 1940, BDCs must distribute a minimum of 90% of their taxable earnings quarterly to maintain their one-level tax paying status. In reality, many firms actually pay out virtually all taxable income and short term capital gains, as well as long term capital gains from the sale of equity interests in the companies in which they established positions. There are even some monthly payers as well. Based on current dividend yields and price levels, many Business Development Companies are currently yielding 8-11%. Given the crummy low interest rate environment, this is certainly appealing.

More Stable and Predictable Dividend Payouts

During the economic collapse of 2009-2009, while many large Financials were forced to cut their dividends to abide by TARP requirements and smaller Financials acted similarly in order to preserve cash and meet leverage requirements, BDCs hold a bulk of their assets in debt securities of their portfolio companies. As long as their entire portfolio of companies doesn’t go belly up at the same time, that dividend payout continues in some form. The difference between a BDC portfolio and say, a high yield corporate bond ETF is that the ETF is passive and based on an index, whereas a BDC has insight into and influence over their portfolio companies. This, in turn, translates into better performance over time.

BDC Investment Risk

While BDCs are prone to volatility and even collapse like other common stocks (ACAS was a former high flier that tumbled to earth – I had owned it and warned about an exceedingly high dividend ratio and sold myself before it experienced a complete collapse – but I took my lumps on the way down), they are generally less prone to do so than what we just saw on Wall Street. By law, BDCs cannot leverage up the same way Wall Street firms did since total debt cannot exceed total equity. Thus, 1:1 leverage is much more manageable risk than the 35:1 we saw with Bear Stearns prior to its demise.

Business Development Company Stocks

In the interest of disclosure, I’ve been long Firth Street Corp (FSC) for some time now in my self-directed high yield IRA. FSC just announced an 11% Dividend Increase and shares have outperformed of late, including a gain of 3% Thursday in a flat market for Financials. Based on this week’s dividend hike, common shares will now yield over 10% which puts it in the same league as
high yield corporate bonds, but with different risk and performance characteristics. While municipal bond ETFs can deliver tax free yields in the 4-6% range, which translates into a 6-9% tax-adjusted yield for high-tax bracket investors, they don’t offer the same potential for continued capital appreciation, not to mention, municipalities are actually facing a decent risk of default in many areas (California anyone?). In addition to the dividend hike announcement, FSC announced that its wholly-owned subsidiary, Fifth Street Mezzanine Partners IV, L.P. (the “SBIC Subsidiary”), has received committee approval for a license from the United States Small Business Administration (“SBA”) to operate as a Small Business Investment Company (“SBIC”). This is government funding to further their investment ambitions at favorable terms.

There’s also a Preferred Stock ETF yielding over 8% which has high yield alternative investment characteristics as well.

Additional Business Development Company Stocks (with % Yield) include:

GLAD – 10.7% – Gladstone Capital Corporation
BKCC – 14.6% – BlackRock Kelso Capital Corpora
NGPC – 7.7% – NGP Capital Resources Company
PSEC – 12.9% – Prospect Capital Corporation

* These yields are based on recent quarters and upcoming payouts, but since the payouts are based on quarterly income, they often vary by quarter. The best measure may be a review of historical payouts and recent share price moves to see if the market is pricing in a downturn compared to their peers.

Surprisingly, I’ve yet to come across a BDC ETF, but I’m sure there’s one in the works somewhere. At this rate, we’re going to have more ETFs than we do stock tickers (see this ETF List with over 800 issues going strong), so I’m sure someone’s working on it. In the meantime, do your own research, watch out for red flags, don’t blindly just chase yield (since you often get what you pay for like these 11% Investment Notes) and maintain an appropriate asset allocation.

For other dividend and income ideas, check out Darwin’s other High Yield articles.

25 Best Personal Finance, Investing & Career Posts of 2009

Darwin — Tue, 12 Jan 2010 13:00:27 +0000

After sharing the best posts from around the blogosphere in Personal Finance and Investing with yesterday’s Carnival of Personal Finance I realized I didn’t do a look-back at 2009 from Darwin’s Finance. In this list you’ll find thousands of dollars in money saving tips, career boosters, investing tricks and tax deduction ideas you may have never heard of. I’ve intentionally selected articles that are still relevant and useful, even if they’re a few months old.

Personal Finance

How to Get a 0% Down Loan Even in 2010 – Amazingly, in the midst of the most substantial housing collapse we’ve seen in our generation, there are still 0% down loans being offered to millions of Americans under a USDA rural loan program. The thing is, there’s nothing rural about many communities that qualify – which means you! Find out more about the program if you’re thinking of buying.

The ONLY way to get your FICO Credit Score for free – Aside from learning how to do this, most people don’t fully grasp the implications their credit score has on their everyday life – from loan rates to employer screening trouble, the FICO credit score is far-reaching and a critical component of a successful personal financial plan.

Net Present Value – It’s not just for MBAs – This article shows how I used NPV to choose between multiple mortgage choices and how you should always perform a simple NPV analysis when confronted with tough financial choices.

What Statistics Really Mean – When someone throws out a fancy statistic, they often either don’t know what they’re talking about or they’re intentionally manipulating you into believing in their agenda. Understand the tips, tricks and implications of statistics and how to apply these concepts to everyday life.

Don’t be a Slave to Energy Prices – Be indifferent. By hedging your energy prices. This article outlines several simple and low cost methods to hedge against rising oil, electric and natural gas prices. Large corporations do this to avoid catastrophic impact to their bottom line, why don’t you?

What Would Happen if the US Dollar Were Replaced? Of late, there has been serious talk of foreign governments getting out of the US Dollar as their reserve currency. Can you blame them? Such an unraveling could have serious implications for all Americans.

Family Money – Fairness and Considerations in Gifting and Estate Planning – This uncomfortable topic is one many families choose to ignore. Do so at your peril. Consider your transparency and equity in how you treat your family members. You’d want to be treated the same way, right?

9 Money Habits to Live by – Check out these basic methods to ensure financial success in your family’s budget. Do you relate to these habits?

Living Paycheck to Paycheck is Costing You Thousands – The hidden costs of not having excess cash on hand every month. Life Happens – and when it does, a hand to mouth financial lifestyle can put you further in the hole.

Puppy Love? Think Twice, That May be a $100,000 Dog Over its Life – I was personally blown away when I actually calculated what our dog Jack will eventually cost us over his lifetime. My wife and I went to college for less than Jack’s expenses over his lifetime. Please make sure you understand and calculate your costs before buying that cute puppy on an impulse buy.

How FSA Plan Account Contributions Can Save You Thousands – If you have a Flex Spending Account at your disposal and you’re not using it, you’re leaving thousands of dollars on the table. See all eligible expenses and how to take advantage of this tax deduction.

Start Investing Today: An Amazing Comparison of 25 vs 35 Year Old Starters – A picture can tell a thousand words. Well, this has words and pictures showing an amazing difference in outcomes if you start investing at 25 vs. 35…even if the 25 year old STOPS investing completely when they hit 35!

Investing

How Stock Options Work – They’re not as complex and costly as you may think. And they’re NOT just for speculation. Options can provide income and hedging in a conservative portfolio as well if used right.

How Covered Call Options Work – Understand how to generate income and smooth out market returns by selling covered calls.

3 Low-Cost Option Strategies for Stock Market Speculation – Using stock options to speculate on a biotech approval or pending court case that could wallop a small tech stock doesn’t have to be expensive. See how these low-cost methods allow you to profit over 1000% on event-driven trading days for under $100 invested.

Investment Club Aspirations? Consider This…While an investment club was a positive experience for me overall, there were significant cost, tax, governance and performance issues that we didn’t consider at the outset. Make sure you understand all the barriers before you embark on a partnership.

Leveraged ETFs are Evil – If you don’t understand daily rebalancing. Please read before you EVER consider buying a 2x or 3X return ETF.

Advanta 11% Yield Notes Sound Great, Right? Find out what to watch for in an investment that seems too good to be true – and what happens to investors that ignored the warning signs.

Structured Notes – How they Work and Why You Might Want One – What if you could attain guaranteed ranges of returns that are MUCH higher than the crappy savings and CD rates out there today? You can, with Structured Notes.

Wall Street Violated Nature’s Laws – A fun look back and how Wall Street violated the most basic laws of physics in their behavior and reaction to the financial crisis.

2009 Returns for Every Country – See what you missed by investing only in the US (or by avoiding stocks altogether in 2009). Some countries returned over 100% on the year, with a financial crisis along the way.

Every ETF on Earth (Over 800 Listed) – If you can think of it, there’s probably an ETF for it. Scan this list of 800 strong to see if there’s an ETF constructed for your strategy.

Want More on ETFs? Visit ETFBase (my latest project dedicated solely to ETFs)

Career

Project Managers – Tips and Tricks – If you’re a current or prospective project manager, check out these tips and practices I follow as a Project Manager.

What’s the Best College Degree for Today’s Economy? It’s no longer Business. See what the up and coming careers are in demand in this new economy.

Your Employee Stock Options Don’t Have to be Worthless – By executing option strategies against your underlying collateral, you can guarantee yourself a hefty return regardless of what happens to your company’s share price.

Make sure to stay tuned via email updates or RSS so you don’t miss similarly themed articles in 2010 and beyond!