Monday, March 31, 2008

Rez humor..............

An Indian, walking through a field, sees a white man using his hand as a scoop to drink water from a pond. The Indian calls out to the man, "Na ol an t-uisce, ta sïlan de chacbo." (Translation: Don't drink that water. It's full of cow poop!)

The man shouts back, "I'm English! Can't you speak English, Indian! Are you completely ignorant, you asshole?!!"

The Indian calls back in ENGLISH .... "Use both hands. You'll get more."

John Lewis

The Georgia Congressman only has one thing to offer Georgians.

His claim to fame is that he is a walking poster-boy for black grievance and victimization.

And nothing more.

Bucking Bulls.............

In high school on the Great Plains I rode some bucking horses but never rode a bucking bull. With bareback and saddle bronc bucking horses you have something to hang on to besides a rope. Bull ropes weren't my idea of a great tool. I was always too scared. I was lacking the courage and guts factor. The bulls were too big, too fast, too unpredictable and it was too easy to get seriously hurt. These days the bucking bulls are better, much better. Sure the cowboys are better but the athleticism of the bulls has improved. How do these cowboys stay on for 8 seconds? They know the bull. The know how the bull has bucked in the past. They know how the bull has bucked the last few times out. They talk to the cowboys that have had to ride the bull recently. The PBR is a fraternity, similar to the crowd down on the corner of Wall and Broad. Some cowboys have video tapes of the bulls bucking action. If you don't know how the bull is going to buck before he comes out of the chute generally a cowboy doesn't have a very good chance to stay on and make any money.

How do I get a video tape of the market ahead of time? Who can I talk to about what it might or might not do? I've found that talking to other market "riders" doesn't make me much money. It seems to be what's under my hat that counts, how I approach my "ride" and the amount of preparation I have invested. And as always, staying sharp, staying in the game and "riding" every day are paramount.

And some times good old fashioned courage comes into play, the guts factor. A good bull rider needs to know when and how to dismount from a bull if he makes the whistle. No one in the arena can help him, it's all up to him. As well using all the available tools for trading is smart and beneficial.

It's the courage and guts parts that can't be bought.

Sunday, March 30, 2008

Downtown Atlanta..........

About 12 years ago when the Olympics rolled through Atlanta I thought it might bring some night life downtown and clean things up. You think?

In todays AJC there was an article about the Georgia Dome and how it withstood the tornado force winds a couple of weeks ago. It seems the "skin" of the Georgia Dome isn't tough enough to withstand gunfire and that 3 separate gunshots have pierced the fabric/skin of the Dome and that all three shots injured spectators at sporting events.

Just three more reasons to stay away from downtown until things are cleaned up or the venues are moved to safer havens, safer being relative because it will probably be at the expense of public tax dollars.

And that's more fiscal suicide.

The Dumbest American..............

How dumb?

Very dumb.

It's the American who knocks what he's got.

Here's what he's got:

A country of unbounded beauty.

Almost unlimited natural resources.

A judicial system the envy of the world.

Food so plentiful obesity is a major problem.

A press nobody can dominate.

A ballot box nobody can stuff.

Churches of your choice.

One hundred million jobs.

Freedom to go anywhere you want, with planes, cars and highways.

Social Security.

Medicare.

Unemployment insurance.

Public schools, plentiful scholarships.

The opportunity to get rich, real rich.

Okay complainer, what's your second choice?

GO.

Lehman fleeced in Japan

Looks like another investment bank gets taken for $350 million.

Interesting times for sure.

Who's watching the risk these days? Has anyone done any serious due diligence on these deals?

Anyone else tired of TAXPAYER funds bailing out these Wall Street veterans? This litany of woe just never ends, decade after decade. Seidman and the RTC, Big John and his band of renowned at LTCM and now the Bear Bailout....taxpayer funds to the rescue.

Any idea when the taxpayer will share in the upside?

Friday, March 28, 2008

OBAMA's economic plan..........

Let's all be clear. If you had to grade his economic plan for America it would warrant an "F".

For failure.

Or foolish.

This from a trained lawyer who has done nothing in the private sector or in public life to warrant leading America.

Higher taxes, here we come!!!! If it wasn't such a marketing job to become President I might think it funny. Let me give you my idea of taxation. It's the redistribution of wealth, taking from those who have from those who have-not.

It means those who worked hard, saved, built, employed and created and who were then "robbed" by the IRS. Where's the line-item veto in 2008?

The fall of Bear Stearns........

About a third of the outstanding shares of Bear Stearns were held by employees. The average broker at Bear Stearns, they had about 500 brokers, was making about $500,000 on average commissions of $1,100,000 per year, well above the Merrill Lynch average per broker per year of between $750,000 and $825,000. Never forget, the salesmen generate the commissions from client investors whether markets are up or down. The economic role of a client for a brokerage firm is to enrich the brokers and the brokerage firm, they are not fiduciaries like Chippewa Partners. Brokers are trained to sell investments that generate fees and commissions and unfortunately often have an agenda other than an investors financial welfare as evidenced by the large number of rogue brokers and arbitration cases brought by investors against firms. I was an arbitrator for the New York Stock Exchange and the NASD for over 10 years and you would have a hard time believing the carnage that goes on out there in the real world. It is frankly disgusting. The interests of Wall Street and the media are not aligned with those of investors. The NASD makes it very clear; investors should never let their guard down with brokers who have a sales agenda.

This debacle is another great lesson for all investors to stay diversified no matter how big or great or fabulous your company's stock is. Jimmy Cayne, Bear's CEO provided a lesson in fooldom. His tournament bridge-playing while the firm tumbled will be fodder for the ages at Harvard Business School. Unfortunately, the financial fortunes of many were impacted by a select few at the top. Lack of risk controls across all areas of the firm were lacking. Wall Street is notorious for poor managment because of the massive compensation at stake. Management often lets trading desks take the firm down and this will happen again and again as it has throughout the last few decades. Call it asinine, call it stupidity just call it what it is.

Human nature and desire for the almight dollar? Call it greed.

CNBC Comedy

Listening to Jim Cramer rail the SEC and hedge funds on "illegal" short-selling activity is the best!!

Jim, it's 2008. Where have you been? It's been a decade since you stopped running money professionally. What a hoot!!

Thursday, March 27, 2008

The massive toll of Alzheimer's...........

In 2005, the annual public cost of care for Alzheimers patients was $148,000,000,000.

5,200,000,000 Americans are suffering from Alzheimers.

10,000,000,000 baby boomers will suffer from Alzheimers.

In 2007, unpaid care provided by family and friends amounted to 8,400,000 hours.

from 93 year-old Jack LaLanne

"You have to work at living because dying is easy".

Wall Street Logic........

Let me see if I understand this thinking. The powers that govern Bear Stearns are upset that some of their salesmen are leaving the firm with the information of their brokerage clients. This from a firm that buried itself with little risk control, leveraged investments and bridge-playing management. Who can blame the sales force for fleeing? Anybody ever see a TV ad for Bear Stearns stockbrokers? Just more Wall Street crapola trying to say that the customers are the firms customers. The customer decides who manages his money. It's his money, something Wall Street and Bear Stearns have a hard time believing.

We welcome Bear Stearns clients to give us a call if you're tired of the stockbroker/saleman pitches.

It might be the smartest call regarding your retirement money you will ever make.

Wednesday, March 26, 2008

Pat Buchanan on OBAMA.........

http://www.humanevents.com/article.php?print=yes&id=25634

Gotta Love It.......

Yesterday Boone Pickens, one of the old guard who still made a billion or two last year, commented on the proposed energy policy of our esteemed liberal guard, Obama and Hillary, respectively. It was classic Boone. Beautiful.

The Democratic response to higher oil prices seems to be false promises and futile schemes. Not a clue about satisfying increasing demand and stagnant levels of supply. I guess the caribou in ANWR are safe for another year. And to think that only 10% of the worlds proven reserves are "owned" by oil companies, the rest by national governments.

High on my Wall of Shame sits former Senator Tom Daschle for pushing GWB in the ethanol craze. Ethanol will probably be one of the largest scams in the history of America before it't over.

Tuesday, March 25, 2008

Native American Reservations............

There isn't a single Native American reservation in America, or probably any of the Native Indigenous Reserves in Canada whose residents don't intimately understand the following phrase.

"Whenever anyone tries to get a leg up, people reach their hands — not to help push but to pull them back down."

I knew it well. Such a common defeatist attitude.

Weigh in if you know what I mean.

Ramblings..............

It is hard not to laugh at the commentators who keep telling us that because American consumers can't borrow money they can't spend it on goods, American or Asian. What a cute joke.

Obama's preacher. Yuck. Obama. Yuck. Hillary. More yuck.

Politics. Still the Hollywood sound-bite mentality. Not a serious discussion anywhere on what needs to be done to fix criminal immigration, social security or the tax code.

Stock market mavens are beginning to think that the United States Government and the Federal Reserve system are the cure-all to lower stock prices. For some strange reason they believe that because 60 trading days brought the market down a couple thousand points that the worst is over and the market should rise. Even the salesmen at Merrill Lynch today got an earful from their market strategist that the coast is clear to venture back into stocks. It must be near the end of the production month for their commission runs.

Bear Stearns...........

This bail out is getting old. Why does everything regarding the 2008 financial crisis revolve around American tax dollars? American hopefully means your tax dollars and mine. What am I missing?

Thursday, March 20, 2008

From a friend online.....

My line of work is in petroleum for about 31 years now, so here are some tricks to get more of your money's worth for every gallon. Here at the Kinder Morgan Pipeline where I work in San Jose , CA we deliver about 4 million gallons in a 24-hour period thru the pipeline. One day is diesel the next day is jet fuel, and gasoline, regular and premium grades. We have 34-storage tanks here with a total capacity of 16,800,000gallons. Only buy or fill up your car or truck in the early morning when the ground temperature is still cold. Remember that all service stations have their storage tanks buried below ground. The colder the ground the more dense the gasoline, when it gets warmer gasoline expands, so buying in the afternoon or in the evening....your gallon is not exactly a gallon. In the petroleum business, the specific gravity and the temperature of the gasoline, diesel and jet fuel, ethanol and other petroleum products plays an important role. A 1-degree rise in temperature is a big deal for this business. But the service stations do not have temperature compensation at the pumps. When you're filling up do not squeeze the trigger of the nozzle to a fast mode. If you look you will see that the trigger has three (3) stages: low, middle, and high. In slow mode you should be pumping on low speed, thereby minimizing the vapors that are created w hile you are pumping. All hoses at the pump have a vapor return. If you are pumping on the fast rate, some of the liquid that goes to your tank becomes vapor. Those vapors are being sucked up and back into the underground storage tank so you're getting less worth for your money. One of the most important tips is to fill up when your gas tank is HALF FULL or HALF EMPTY. The reason for this is, the more gas you have in your tank the less air occupying its empty space. Gasoline evaporates faster than you can imagine. Gasoline storage tanks have an internal floating roof. This roof serves as zero clearance between the gas and the atmosphere, so it minimizes the evaporation. Unlike service stations, here where I work, every truck that we load is temperature compensated so that every gallon is actually the exact amount. Another reminder, if there is a gasoline truck pumping into the storage tanks when you stop to buy gas, DO NOT fill up --most likely the gasoline is being stirred up as the gas is being delivered, and you might pick up some of the dirt that normally settles on the bottom. Hope this will help you get the most value for your money. DO SHARE THESE TIPS WITH OTHERS!

I bet her name wasn't LENA................

Ole, a furniture dealer from up at Brainerd MN, decided to expand the line of furniture in his store, so he decided to go to Paris to see what he could find.
After arriving in Paris he visited with some manufacturers and selected a line that he thought would sell well back home. To celebrate the new acquisition, he decided to visit a small bistro and have a glass of wine As he sat enjoying his wine, he noticed that the small place was quite crowded, and that the other chair at his table was the only vacant seat in the house.

Before long, a very beautiful young Parisian girl came to his table, asked him something in French (which Ole couldn't understand), so he motioned to the vacant chair and invited her to sit down. He tried to speak to her in English, but she did not speak his language so, after a couple of minutes of trying to communicate with h er, he took a napkin and drew a picture of a wine glass and showed it to her. She nodded, so he ordered a glass of wine for her.

After sitting together at the table for a while, he took another napkin, and drew a picture of a plate with food on it, and she nodded. They left the bistro and found a quiet cafe that featured a small group playing romantic music. They ordered dinner, after which he took another napkin and drew a picture of a couple dancing. She nodded, and they got up to dance. They danced until the cafe closed and the band was packing up.

Back at their table, the young lady took a napkin and drew a picture of a four-poster bed. To this day, Ole has no idea how she figured out he was in the furniture business

Volatility...............

The volatility in commodities is interesting. The dollar rally is overdue.

Growing demand by growing economies around the world should keep the party going for years with brutal whip-saws along the way.

Who said they only love fish and rice in Asia?

Tuesday, March 18, 2008

the Bear deal...........

The lawyers will make out in the long run. Mr. Dimon will also win. Real big.

No doubt Bear clients are fleeing faster than Bill Clinton headed for an intern.

Reminds me of the last days of Drexel Burnham Lambert. I was the last guy out the door in the LaJolla office in 1989. I think I still have the office key which I saved for posterity.

Monday, March 17, 2008

Food fight........

The spoils of the Bear collapse won't be very tasty. It already smells like rotten eggs. Nineteen years ago I was going through this very ordeal with Drexel Burnham Lambert. There are no winners short-term. Long-term the "system" may clean itself up but I doubt it. History always repeats itself.

Sunday, March 16, 2008

At the Speed of Life......

A mere week ago, Bear Stearns was worth 4.1 million. Tomorrow morning the entire firm will be worth $250 million. And the greedy guys who brought this on making hundreds of millions on the way up probably won't lose a dime on the way down. The "smartest guys in the room" who screwed up so much have probably already been fired. More shoes will drop. The lack of risk controls and proper position-sizing was rampant. Another greedy disaster. It just never ends on Wall Street. Too much greed and way too much compensation without proper risk controls in place.

Bear.........

Wall Street has a million stories. The venerable firm is toast.

And the S&P 500 is at levels it traded at in 1999 and in 2001.

Like the 10,000 great people at Drexel Burnham Lambert to have been taken down by just a few at the top, this Bear Stearns debacle defies any kind of common sense.

It wasn't the regulators here who stepped in like at Drexel, this was sheer lack of the proper risk control by a firm that prided itself on risk control.

Another 85-year old Wall Street firm bites itself into a distant memory.

Friday, March 14, 2008

Government metrics.........

This morning the Core CPI numbers were released. Unchanged is the word from the Government. One of the biggest jokes ever.

Hard to stomach this madness, I'm going to breakfast with the tooth fairy.

Have a great weekend. Do something fun, eat something good, tell those you love that you love them. And if you are looking for some introspection, go to church.

It's only 1 hour.

Wednesday, March 12, 2008

$$$$$$$

The Public Relations spin machine for NASA is always busy with a launch/flight.

Imagine if the government put a spin on the financial waste, fraud and corruption that endangers America every day. Or paid attention to the billion dollars a day that is spent on lobbying efforts. Imagine, a billion every day being spent to influence legislation and votes for special interests. Fathom that.

Tuesday, March 11, 2008

Dubai-land............

Every time I fill up at the gas pumps I will feel I am financing this venture.

I bet you will too.

Monday, March 10, 2008

The Governor of NY, Client 9 and ladies of the night.......

I'm saying my prayers for Mr. Spitzer and his wife and family.

As Attorney General he did so much to get to the bottom of Wall Street chicanery.

He did what the SEC wouldn't do.

And won't do.

Friday, March 07, 2008

Democrat Edolphus Towns......

The Congressman from New York is way past his time (and prime) with his lame questioning today. New York gets what they deserve with this guy.

Meanwhile, America suffers. With guys like this in charge those CEO's are safe, very safe. Amazing.

CEO Pay.........

Watching this House Oversight Committee question the CEO's on excessive executive pay is truly mind-boggling. The sleaze factor in that room is about as bad as it gets these days. It's amazing how this crap still goes on. The little shareholder be damned! The stench is apalling.

Thursday, March 06, 2008

Say it ain't so, Ben.......

If it wasn't so disgusting it might be funny.

Our esteemed Fed Chairman coming out in testimony this week saying, "principal reductions that restore some equity for the homeowner may be a relatively more effective means of avoiding delinquency and foreclosure."

This is what he really said. Hey you, Mr. Bigshot Homeowner who leveraged your firstborn to buy a house much bigger than you could ever afford (and probably lied about your financial condition like 70% of mortgage applications out there) and who is driving new vehicles from doing refi's as your home appreciated, just dont' worry about a thing. I am going to ask your banker to REDUCE the amount of money you owe the bank on your mortgage to save his ass (and yours).

No wonder this country is in such a financial pig pen with loons like Ben tossing out life vests to every friendly banker and Congressman.

Who said it was an election year?

Wednesday, March 05, 2008

Investors, you need to understand.......

The difference between a money manager and a stockbroker is that one makes money from trading the story, the other makes money telling the story.

Tuesday, March 04, 2008

Getting old............

If I ever hear the word AMBAC again it will be too soon.....I am truly sick and tired of the words Dubai, Bernanke, asset allocation, benchmarking, style drift, the VISA IPO, Goldman Sachs, sub-prime and the money-changers at Citi.

It is just drivel...snot nosed drivel.....and hats off to the honest, hard-working corporate chieftains in the trenches running companies and managing the finest work force in the world, the American work force. They are doing their best to beat back exorbitant tax rates, the despicable AMT and inflationary pressures.

May the Creator bless them.

A Note for Prospective Clients of Chippewa Partners

The following questions should be considered prior to selecting an investment manager. Any candidate that has a commission-driven agenda in providing investment advice should be respectfully challenged.

We have told investors to be very careful before they turned over their life savings and their financial future to a broker whose first job is to keep their job, not grow or preserve their money. It is our goal to help prospective clients make informed decisions and we are available to answer questions and to enhance a comfort level with our professional services. We invite you to contact us.

• What is the experience and credentials of the advisor responsible for my portfolio?
• How often can we review our portfolio? Can we access funds in an emergency?
• What is the total cost? Are fees charged to establish an advisory relationship?
• Are there hidden fees? How are fees paid?
• What is the advisor’s philosophy regarding money management?
• Has there ever been legal action taken against the investment advisor?
• How is the fee structure linked to portfolio performance?
• Am I comfortable with the firms’ investment strategy?

About Native American Advisors, Inc.

“We are about doing the right things, the right way, for the right reasons for clients who don’t have the time, talent or training to manage a serious investment portfolio. We do the homework for the serious assets of some great clients around the world.”

“We bring four things that can lack in big companies; energy, passion, courage, and independent thinking. I don’t golf, don’t go to cocktail parties and don’t belong to any country club. The term “rich” doesn’t mean being savvy or sophisticated when it concerns stocks. It has more to do with weathering the inevitable storms and staying focused.”

“We manage hard-earned money. I find it disturbing that every broker, banker or insurance agent with a pie-chart calls themselves a financial planner. We don’t do taxes, we don’t pitch insurance, and we are not estate planners. Our clients hire full-time accountants and attorneys when they need specific help.”

“One aspect of our success has nothing to do with money. The bottom line shouldn’t be measured just in dollars and cents. We never forget where we came from. We could never tell a prospective client we have a minimum account size. Why would Dean Parisian, raised in the poorest county in America, tell someone they’re too small to get world-class investment help?”

From a seminar in Rancho Santa Fe, CA

“The economic role of a client for a brokerage firm is to enrich the brokers. Brokers are trained to sell investments that generate huge fees and commissions and typically have an agenda other than your financial welfare. The interests of Wall Street and the media are not aligned with those of investors. The NASD makes it very clear; investors should never let their guard down with brokers who have a sales agenda. Do you really want to trust your portfolio and retirement to a broker-salesman?”

“As an arbitrator for the New York Stock Exchange I have censured many stockbrokers and know that investors often confuse a sales pitch with impartial investment advice. Do you think Tiger Woods and Bill Gates use stockbrokers to increase their net worth and protect their assets? Not a chance. The simple answer is they have competent, unbiased investment managers. They hire investment management professionals to manage their assets. So should you.”

From an Atlanta Athletic Club seminar.

“Trading in IPO’s are not part of our methodology. Their problems stem from the deliberate overpricing of new shares, which creates a huge wealth transfer from a newly public company to the major customers of an investment bank. Shareholders are much better off in the long run with a higher net worth than with an artificial and temporarily high stock price. IPO’s are allocated to clients who pay big commissions. Those responsible for completion of an IPO are the lead underwriters. If brokers were held liable for the tremendous carnage inflicted on early buyers of IPO’s the mispricings would end. Those responsible for a company are the directors. If directors were held liable for the eradication of corporate assets, the mispricings would end. We don’t play the game by paying big commissions for syndicate allocations of initial public offerings.”

Dean T. Parisian, Chairman, in a letter to the Wall Street Journal

Sunday, March 02, 2008

AAIP program..............

The Association of American Indian Physicians (AAIP) is now accepting applications for the 11th Annual Patty Iron Cloud National Native American Youth Initiative (NNAYI), which will be in our nation’s capitol, June 21 – 29, 2008. 60 Native American high school students, age 16 – 18, who have an interest in the health professions and biomedical research will be awarded scholarships to attend this intense summer program.

The NNAYI Program is designed to educate high school students about the various careers in the health professions and biomedical research to explore career in “NNAYI” is a tremendous opportunity for Native high school students interested in pursuing a career in health,” says Margaret Knight, AAIP’s Executive Director. “NNAYI’s curriculum is strategically designed to prepare students for admission to college and professional schools, as well as for careers in health and biomedical research.”

During interactive workshops, students increase their skills in leadership, communication, studying and testing, networking, professional behavior, interactive learning, and time management. AAIP member physicians and health professionals serve as role models for the students and offer insights into their respective health fields, including medicine, pharmacy, dentistry, public and allied health, biomedical research, health policy development, and more. Students also learn about opportunities for mentoring and shadowing with AAIP member physicians.

To accompany the students during the program, NNAYI is currently accepting application for counselors to serve as chaperones and role models. Native American college students in health programs are encouraged to apply. Counselors receive all expenses paid, as well as a stipend at the end of the program.

Application deadline for high school students is April 18, 2008 and for counselor application is March 21, 2008. For more information, contact Lucinda Myers at the Association of American Indian Physicians at (405) 946-7072, or e-mail lmyers@aaip.org. Applications may be downloaded from the AAIP web site at www.aaip.org/programs/nnayi/nnayi.htm

Native American Advisors CHIPPEWA PARTNERS

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CHIPPEWA PARTNERS, Native American Advisors, Inc. is a Registered Investment Advisor, founded by Dean Thomas Parisian in 1995. The firm is a manager to an exclusive clientele and is closed to new clients. As a Registered Investment Advisor, our expertise developed over 35 years balances experience, integrity and tremendous work ethic. Dean Parisian is a member at the White Earth Reservation of the Minnesota Chippewa Tribe, a former NYSE and FINRA arbitrator and trader who began his career with Kidder Peabody and later worked for Drexel Burnham Lambert in LaJolla, CA. His philanthropic interest is in Native American education and he's endowed a significant scholarship for Native Americans at the University of Minnesota. His greatest accomplishment includes raising two sons and 26 years of marriage. The Parisian family enjoys outdoor pursuits at Pamelot, their farm in Tennessee and at the Ghost Ranch, their ranch on the Yellowstone River in Montana. For media requests contact the firm via email: ChippewaPartners (at) gmail dot com, on Twitter: @DeanParisian. Global 404-202-8173