China has a hiccup...............

China’s stocks tumbled the most in three months after the government tripled the tax on securities transactions to cool a rally that’s drawing more than 300,000 new investors a day.
The CSI 300 Index dropped 281.83, or 6.8 percent, to close at 3886.46 in Shanghai, the biggest fluctuation among markets included in global benchmarks. The value of local stocks has more than doubled this year to $2.47 trillion and brokerage accounts topped 100 million for the first time this week.

“The Chinese government is concerned that there’s too many people in the market, and they’re gambling,” said Mark Mobius, who oversees some $30 billion as managing director of Templeton Asset Management Ltd. in Hong Kong. “It’s good for people to not expect that markets go up continuously.”

Stamp duty on share trades was increased to 0.3 percent “to promote the healthy development of the securities market,” the finance ministry said on its Web site. The central bank this month raised interest rates for the second time this year, encouraging people to save rather than invest in stocks, and brokerages were ordered to make investors sign a declaration acknowledging risks when opening accounts.

Graduating Seniors take heed.......

Remember a lesson from the world of the coyote for they will be on earth far longer than man.

If a coyote chases two rabbits, both will escape. To survive they focus on only catching one.

Likewise, as you go forth in the world, stick to what you are good at, play to your strengths and pick your passions wisely.

Yet explore, be audacious and embrace change. Good luck.

Lone Ranger..........

The Lone Ranger and Tonto stopped in the desert for the night. After they got their tent all set up, both men fell sound asleep. Some hours later, Tonto wakes the Lone Ranger and says, "Kemo Sabe, look towards sky, what you see?" The Lone Ranger replies, "I see millions of stars." "What that tell you?" asked Tonto. The Lone Ranger ponders for a minute then says, "Astronomically speaking, it tells me there are millions of galaxies and potentially billions of planets. Astrologically, it tells me that Saturn is in Leo. Time wise, it appears to be approximately a quarter past three in the morning. Theologically, it's evident the Lord is all-powerful and we are small and insignificant. Meteorologically, it seems we will have a beautiful day tomorrow. What's it tell you, Tonto?" Tonto is silent for a moment, then says, "Kemo Sabe, you are dumber than buffalo shit. It means someone stole the tent."

IPO's and Penalties.........

When a new client comes to Chippewa Partners we like to examine the preceding 12 months of statements from the clients predecessor custodian of his assets. Invariably clients often seek out our services because they are sick and tired of the abuse they take at the hands of brokerage firms. You see, brokers must serve a couple of masters. One, they have to produce their livelihood at the expense of the client even if market conditions warrant nothing should be done to their portfolio in the way of change, asset allocation or as the brokers call it, to increase the velocity of RTB, return to broker. Second, the broker has to generate commissions and fees to keep the firm happy and to keep the lights on and to keep his seat at the firm.

Now, when we examine client statements we often look for IPO's of closed-end funds and syndicate products to see how long they remain in the clients account, for the simple reason that if syndicate products are sold out of the client's account prior to a 30 or 100 day grace period the broker will have the commissions charged back to him. It is easy to see.

Examine your statements. Look for hidden "churn". If you are tired of the abuse, call us.

As an NASD and NYSE arbitrator for over a decade, I learned one thing.

If you want salesmen to handle your retirement livelihood we wish you good luck, but don't' say we didn't warn you.

Today's Bush Press Conference..........

This is a hoot. He hasn't said one concrete thing to shut our borders down tight. This guy doesn't get it. Hasn't and won't.

Montana Drilling..................

On Monday evening, the Russell Country Sportsmen will be hosting a presentation on energy development and the impact on wildlife and habitat in the state. The speaker is T.O Smith with Montana Fish, Wildlife and Parks, he will discuss the massive level of drilling in Wyoming and it's impacts on habitat and wildlife.

In light of a proposal to develop upwards of 1,600 gas wells on the border of the Upper Missouri River Breaks National Monument, attending this talk would be worthwhile.

The meeting is Monday, May 21 at 7:00 pm, Fish Wildlife and Parks headquarters, 4600 Giant Springs Road, Great Falls, MT.


"Roadless areas, in general, represent some of the best fish and wildlife habitat on public lands. The bad news is that there is nothing positive about a road where fish and wildlife habitat are concerned -- absolutely nothing." (B&C Professor, Jack Ward Thomas, Fair Chase, Fall 2005, p.10).

From one of my friends........Thank You!

For a couple of paragraphs, this is an incredible post. Have you ever seriously thought of public speaking? You could give any person I've seen on the news whether it be FOX, heaven forbid CNN, or any of the other channels, a run for their money. Not to mention everything you say packs a whollup! Did I spell that right... probably not, but oh well you get my point.

Your writings always inform me, moving me to laugh, to even cry at times, paint a picture so vivid I can see in front of me, but always, always to THINK! Thanks for sharing and I think Trail of Tears should be mandatory reading in schools. I make it mandatory for my children... and not just because of their Cherokee heritage either. Simply because I believe it's the right thing to do to inform our children of real acts of atrocity that have happened in this land we call America, our home. Acts that we, the immigrants, perpetrated upon those who were here first living their lives peaceably among one another.

Again, great piece, thanks for sharing something great with all of us who read your blog.

Have a great day.

This job paid for my college education.........