Credit Cards
I noticed in the past couple of years that whenever one of our credit cards is renewed, the term is 2 or 3 years. It used to be 5 minimum! Nothing to do with our credit score, it’s perfect (not sure it’s an honor, maybe just a sign of stupidity for not taking advantage of the free money).
I just checked and there’s not a single card with expiration beyond 2011 in my wallet. Freaky… They’re not planning on sticking around to 2012.
What’s in your wallet? Check your expiration dates and let me know.
Mine is Dec 2010.
Do you want my numbers also?
Yes, including the CVC/CVV code, please.
(New shoes, here I come!)
Alpha has a post over on ibankcoin about the decaying nature of the 2x ETF’s – http://www.ibankcoin.com/alphablog/index.php/2008/11/14/how-to-lose-money-in-2x-etfs/
Since your the ETF Queen, what do you think about shorting the ultra long and ultra short at the same time?
Is that possible?
CC’s
2 in 2010
1 in 2011
Short COF
Hi Lenny,
don’t see why not! I’m short both SSO and SDS, have been for the last few weeks, and trade around these positions.
I posted a couple of times before that over the long run all the Ultras lose value (and I guess it’s now hitting the mainstream, finally! So many people saying – “well, when Dow was at 10,000 this was at $200, now Dow is 8,000 and this POS is $90” etc).
Still, going long a double-inverse ETF is not a bad choice in a downtrend. Average diETF returns 1.4-1.6 times the movement (not double, as everyone expects).
The thing is, with the 7-10% moves, holding any Ultra for the long-term is certain death, especially double- or triple-short.
Gun to the head pick 🙂 — short EEV on Wednesday. Maybe 2-3 days early but you’ll be fine the week after.
When we have the ‘obligatory rally’, I’ll start accumulating SH – it’s a non-ultra ETF that shorts SPY. It pays a dividend and the advantage is you can just buy it like a stock and not worry about the decay or paying the fee for being short. If you think SPY is going lower, don’t short it, just buy SH.
As for the credit cards – I’m telling you, something’s up. I guess we all know about 2012 theories and conjectures. Try and find one person who has a credit card with 2012 expiration date. That’s your homework for the weekend 🙂