Comments on: Eat The Rich: Bernie Madoff, Patricia Cornwell, Danielle Steel, and Oh, the Shadenfreude! http://adistantsoil.com/2009/10/25/eat-the-rich-bernie-madoff-patricia-cornwell-danielle-steel-and-oh-the-shadenfreude/ The Official Website of A Distant Soil, the legendary graphic novel series from Image Comics. Wed, 08 Feb 2012 09:48:16 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: With Many Thanks, O Noble Patrons | A Distant Soil by Colleen Doran http://adistantsoil.com/2009/10/25/eat-the-rich-bernie-madoff-patricia-cornwell-danielle-steel-and-oh-the-shadenfreude/#comment-8479 With Many Thanks, O Noble Patrons | A Distant Soil by Colleen Doran Mon, 07 Mar 2011 18:00:53 +0000 http://adistantsoil.com/?p=4443#comment-8479 [...] for it, or when you send us five bucks and say “Have a cuppa on me!” it’s like we Madoff with your entire wallet and gave nothing in return but a stroke. Which, BTW, will cost you a twenty [...] [...] for it, or when you send us five bucks and say “Have a cuppa on me!” it’s like we Madoff with your entire wallet and gave nothing in return but a stroke. Which, BTW, will cost you a twenty [...]

]]> By: Colleen http://adistantsoil.com/2009/10/25/eat-the-rich-bernie-madoff-patricia-cornwell-danielle-steel-and-oh-the-shadenfreude/#comment-2330 Colleen Tue, 27 Oct 2009 22:50:07 +0000 http://adistantsoil.com/?p=4443#comment-2330 Miki, that is terrible! I am so sorry! Miki, that is terrible! I am so sorry!

]]> By: Miki http://adistantsoil.com/2009/10/25/eat-the-rich-bernie-madoff-patricia-cornwell-danielle-steel-and-oh-the-shadenfreude/#comment-2329 Miki Tue, 27 Oct 2009 22:14:20 +0000 http://adistantsoil.com/?p=4443#comment-2329 I agree, it burns me up when I see the idiotic comments posted on many websites that the victims of scams deserved what they got. One of my fellow comic art collectors works at a hospital where they had to cut back on services provided and layoff three employees because the services provided were being paid for from a grant that was invested with Madoff. I agree, it burns me up when I see the idiotic comments posted on many websites that the victims of scams deserved what they got.
One of my fellow comic art collectors works at a hospital where they had to cut back on services provided and layoff three employees because the services provided were being paid for from a grant that was invested with Madoff.

]]> By: Colleen http://adistantsoil.com/2009/10/25/eat-the-rich-bernie-madoff-patricia-cornwell-danielle-steel-and-oh-the-shadenfreude/#comment-2322 Colleen Mon, 26 Oct 2009 16:53:44 +0000 http://adistantsoil.com/?p=4443#comment-2322 Hm. FYI, Bernie Madoff investing buddy found dead in pool: http://www.dailymail.co.uk/news/worldnews/article-1222999/Madoffs-beneficiary-Jeffry-Picower-dead-Palm-Beach-pool.html Hm. FYI, Bernie Madoff investing buddy found dead in pool:

http://www.dailymail.co.uk/news/worldnews/article-1222999/Madoffs-beneficiary-Jeffry-Picower-dead-Palm-Beach-pool.html

]]> By: scribblerworks http://adistantsoil.com/2009/10/25/eat-the-rich-bernie-madoff-patricia-cornwell-danielle-steel-and-oh-the-shadenfreude/#comment-2321 scribblerworks Mon, 26 Oct 2009 16:12:23 +0000 http://adistantsoil.com/?p=4443#comment-2321 Yeah, I don't get the people who play the market as a gambling game. I'm just too cautious. My grandfather bought me 10 shares in a particular company when I was little (apparently because I was the only one of 4 grandchildren who ever wrote letters!). My mom made me deal with the attendant business with those shares: she opened a bank account for me, and the dividends (which I had to sign) were deposited in it; I was expected to look through the annual reports; I had to sign the proxy authorizations for shareholder meetings. It made me pay attention to the business of being a shareholder. While I grew up those shares split 2 for 1, then 3 for one, then 2 for 1. I sold them to pay for grad school. :D But having had that experience has made me more aware of the difference between having my own portfolio of shares and being in a money market fund. Owning shares (usually) means you own part of the company, and are paid dividends from the profits. Being in a money market fund means your money is (basically) put into a pool with others' money, which then buys and/or trades in shares to "make money". The dividends that the POOL owns are usually turned back into making more purchases, unless you specify otherwise. The money you get comes from both dividends and profits from trades. That's why your return on money market funds can be variable. It's also why wise advisors tell you not to keep all your money in such funds. Me, I like the idea of ownership. But it takes a lot of patience, selection -- and money, to build a solid portfolio of shares. Because if you want to build a portfolio that will in fact support you, you need to chose companies that are steady earners, not ones that are "hot right now". Once, after grad school, I started considering where I would start to build such a portfolio. I checked the stock listings for a few weeks, to see what companies had a reasonable price per share, that their quarterly dividends looked like. Then I considered the company's history in adapting to changing markets. I decided (if I had the money) that I would start by getting shares in 3M -- they may have started out as a mining company, but they've obviously adapted (they bring you Scotch tape and Post-It Notes), and they always keep an eye on new needs, developing product as technology changes. Not long after I started tracking it, the company did a 2 for 1 share split. That made me feel that I had learned the lessons I'd gotten in childhood. Now if only I had the money to invest. *sigh* Too bad I could only hypothetically invest in 3M back then. Yeah, I don’t get the people who play the market as a gambling game. I’m just too cautious.

My grandfather bought me 10 shares in a particular company when I was little (apparently because I was the only one of 4 grandchildren who ever wrote letters!). My mom made me deal with the attendant business with those shares: she opened a bank account for me, and the dividends (which I had to sign) were deposited in it; I was expected to look through the annual reports; I had to sign the proxy authorizations for shareholder meetings. It made me pay attention to the business of being a shareholder.

While I grew up those shares split 2 for 1, then 3 for one, then 2 for 1. I sold them to pay for grad school. :D

But having had that experience has made me more aware of the difference between having my own portfolio of shares and being in a money market fund. Owning shares (usually) means you own part of the company, and are paid dividends from the profits. Being in a money market fund means your money is (basically) put into a pool with others’ money, which then buys and/or trades in shares to “make money”. The dividends that the POOL owns are usually turned back into making more purchases, unless you specify otherwise. The money you get comes from both dividends and profits from trades. That’s why your return on money market funds can be variable. It’s also why wise advisors tell you not to keep all your money in such funds.

Me, I like the idea of ownership. But it takes a lot of patience, selection — and money, to build a solid portfolio of shares. Because if you want to build a portfolio that will in fact support you, you need to chose companies that are steady earners, not ones that are “hot right now”.

Once, after grad school, I started considering where I would start to build such a portfolio. I checked the stock listings for a few weeks, to see what companies had a reasonable price per share, that their quarterly dividends looked like. Then I considered the company’s history in adapting to changing markets. I decided (if I had the money) that I would start by getting shares in 3M — they may have started out as a mining company, but they’ve obviously adapted (they bring you Scotch tape and Post-It Notes), and they always keep an eye on new needs, developing product as technology changes. Not long after I started tracking it, the company did a 2 for 1 share split.

That made me feel that I had learned the lessons I’d gotten in childhood. Now if only I had the money to invest. *sigh* Too bad I could only hypothetically invest in 3M back then.

]]>