Dumb Luck Investing Update

Welcome to the wonderful world of scrambled nest eggs.

At a quick glance, followed by some quick barroom napkin calculations, Monday’s stock market selloff put the major markets down from their bull-market closing highs as follows:

DOW down roughly 27%
S&P down roughly 29%
NASD down roughly 30%

My modest little portfolio is now even more modest than before, down 8.5% from its bull market high. With the equities portion losing value, my cash position now sits at 60%. Adhering to my personal investment rules, October is my next window for a portfolio change. For now, my inclination is to move another preset monthly allowable amount from cash into equities. My rules do not obligate me to make a change each month; I can choose not to do anything. If I skip a month, my rules do not allow me to make two changes the following month; it is strictly one change allowed per month.

One would think we would see some market support in this -30% area of losses. If all of the cards were face up on the table then we could all start feeling optimistic, but there may be more surprises. The markets going another 10% to the downside would not surprise me, but there is absolutely know way of knowing.

Hang in there; I am sure that Paulson, Bernanke, Bush, and Congress have a bailout plan ready to cover all of our investment losses.

Just Let it Bleed!

Citizens have told their representatives that the bailout sucks, and the house today voted NO on the bailout package. It is refreshing to see elected representatives actually represent their constituents. Bravo.

Citizens are used to hard times, and the apocalyptic scenarios prophesized by Paulson and Bernanke do not frighten them. My daughter put it best; when it comes to hard times, the average American is an experienced, highly trained professional. They know when to pull in their belts; they know not to buy new cars or big screen TVs when times are tough. If it comes to a choice of feeding their kids or paying for cable TV, they will cancel the cable. The government has never bailed out the average American; those citizens must suffer through life armed only with guts and determination. The government does not save the average American from foreclosures and repossessions; we take our beatings and move on. The average American knows what it is like to lose their job; many know what it is like to lose everything. The economy can burn, the average American will handle it, and the average American wants to see their rich corporate American counterparts learn what the tough side of life is really like.

The “experts” all say the bailout is essential. The “experts” got us into this mess. Why should the average American trust the “experts”? All of the “experts” agree on only one thing; they agree that the bailout may not even work. I do believe, that for $700 Billion, the average American wants an ironclad guarantee that it will work, and they want to see some regulations enacted to see that greed and stupidity does not let this ever happen again.

Everyone, back to the table, do it all again. Do not pass a bill that rewards bad behavior. Pass a bill rewarding the banks that did not screw up. There are many sound institutions sitting on cash simply out of fear. Take $700 Billion, loan it to those banks, at a preset rate and a fixed term, so they can get back into action doing what they do best, making loans to responsible people and corporations. Let those institutions that screwed up rot while trying to figure out what to do with all of those bad loans.

Chicken Little Economics

Hey Paulson! Hey Bernanke! Last week you guys promised us an immediate end-of-the-financial-world unless Congress paid $700 Billion, no questions allowed. You promised! Here it is a week later and we still don’t have an end of the world! Come on guys! Make with some serious Armageddon; this has become boring. Without an end of the world, each day that passes without Congress paying your extortion money makes you two boobs look like cheap parking-lot-insurance mobsters.

What will President Bush have to say tonight? Personally, I no longer care what that unlettered misfit has to say about anything. Things are bad; things most likely will get much worse before they get better, with or without Paulson and Bernanke’s plan.


/Me

Ruger P90

7/3/2019 EDIT:  CLICK HERE for a range session

1/1/2015 EDIT:  This was initially written in September 2008.  At the turn of this new year I decided to read what I wrote a bit over 6-years ago and see if I still felt the same about this old horse.  Yeah, I believe I still do.  I'm leaving the original post intact;  please add 6-years to any mention of time.

Goodness, has it been 17 years already? In 1991, not too long after Ruger started production of their first pistol chambered for the .45 ACP, I was the first on my block to run out and buy a Ruger P90. Rated for +P loads, weighing in at 34 ounces, it has a 4.5 inch barrel, stainless steel slide, anodized aluminum frame, double action / single action; mine came with a safety decocker. It is a reasonably light carry, easily fits in a winter coat pocket, and the large trigger guard accommodates a gloved trigger finger.

Initially I was concerned that I might wear it out so I called Ruger and asked for advice on longevity. An engineer said to shoot the hell out of it, that if I could break it they sure would like to know how I did it. The engineer went on to say they had sent a bunch of the pistols to gun ranges to be used as “loaners,” and that after thousands of rounds, and no cleaning, all of the pistols were still sound. After a blowing few thousand rounds through mine, many of them +P loads, I felt secure that my P90 would last a lifetime. I also felt secure that if it did break, Ruger would be around to provide repairs.

Little has changed on the design of the P90 over these many years; I was told that they eliminated the nub on the guide-rod, and they updated the magazine capacity from seven rounds to eight. Since my pistol guide-rod is of the original design, and supposedly, is not interchangeable with the new ones, I ordered a few extra guide rods and recoils springs at Ruger’s incredibly low prices. (NOTE: There is some confusion as to whether or not there was actually a change made to the P90 guide rod.)

The best pistol for the .45 ACP is the one designed for the load, the model 1911. That said, I wanted to have a double action .45 ACP pistol available and the Ruger P90 has been it since 1991. I’ve had the money and several opportunities to buy a SIG 220, but never felt it was that much better than the Ruger to be worth the expense.

Ruger still makes the P90 today, even though they have one or more newer models chambered in .45 ACP. Mine has been a great utility gun, one that I will keep for as long as it is in condition to shoot, which likely will be until the end of my days.

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Rudy Parker

Everyone needs a Rudy Parker in their life, a person who can wear the many hats of mentor, colleague, and confidant. He guided me through many rough times that I saw on the job, and through very tough periods that I faced in my personal life. He could always see the good in people, and he would help turn that good into something even better. He always had time for you, always made you feel welcome, and always made you feel important. Rare is the man who will pick you up out of the dirt, dust you off, and call you his equal.

Rudolph E. Parker my friend, it has been eight years since we lost you. You are missed, not forgotten.

Gun Holsters

This blog entry has information that is somewhat time specific. Lefty Lewis at Bell Charter Oak is having a fall sale. Certain pancake holster designs have been marked down $10 and shipping is free if you buy two holsters, which gives you a total savings of $40.

There seem to be far more gun makers today than there are top tier holster makers. Our armed forces in “hot zones” are always looking for quality holsters, so along with the orders from those in law-enforcement and orders from civilians that carry concealed, all of the top makers have orders stacked up. A Bell Charter Oak holster is about six or seven week wait, about average for the top makers. If you are shipping out to Afghanistan or Iraq, give your favorite holster maker a call; I am sure most will move you up the list.

I am quite surprised at the number of hits this blog site gets for “gun holsters,” and more surprised about the number of hits from those searching for “wheelchair concealed carry holster.” I know for sure that Bell Charter Oak has a design specifically for the special needs of a wheelchair, and several other designs that may serve just as well. Click through the “gun holster website” links on the left hand side of the Google Blogger version of this site, there are many custom holster makers that can help you with your needs.

If you are a holster maker / seller and do not find your name listed on the left hand side of the Google Blogger version of this site, I did not deliberately exclude anyone, please send me your URL; it will be my honor to add you.

The shark-trimmed holster with the Glock 26 in the photo above is one I am proud to own, purchased from Del Fatti Leather. Due to a large backlog of orders, Matt Del Fatti is not accepting new orders until further notice. However, it is worth peeking in on his site to look at the gallery of some of his work, and to see if he pops any surprises into his “in stock” listings.

Thanks for the visit.

/JZ

Entry for September 13, 2008

My 1999 GMC Safari Van now has 150,000 miles on it, only 1,000 miles more than what it had when I last blogged about it on May 20 of this year. Gasoline prices above $4 per gallon kept use of the 16 MPG van to a minimum.

A couple of weeks ago I decided to start shaking the old van down to see what all it would need to see me through the snow and cold of this coming winter. On Tuesday of this week I had Sears put in a new DieHard battery since the existing one was several years old and acting kind of tired. On Friday I was back at Sears arguing with them to warrant the brand-new battery in full because it went dead on me and would not hold a charge. After much battery testing and acting-out by their staff, they finally put another new battery in the old van. Hopefully this new one will last more than the three days of the previous new one, and hopefully Sears someday will learn that the reason their stores have more employees than customers is because of their bad service. The last time I had a Sears do an oil change on the van they had nobody available that knew what grease fittings were for, and once I explained the concept they could not even load a grease gun to attempt to lube the fittings. Many other “quick oil change” franchises also will not grease older vehicles.

The engine in the old van flutters a bit when cold, and it has some other symptoms typical of a dirty fuel injection system. Even though Shell brand gasoline has cured most of the problems, I believe I will have a GM mechanic flush the injectors and clean the plates again. Even though I only have 9,000 miles on the last transfer-case fluid-change I may also have them do that since the full-time all-wheel-drive gets quite a workout and will start chattering again if I wait too long. GM mechanics know that older vehicles steering assemblies still need grease, so I will have them do a lube job and changed the engine oil and filter. With luck, maybe the GMC can chug through another winter without needing any major repairs. Will it make another 10,000 miles? I doubt it, but my “major purchase fund” does not yet have enough money in it to buy a replacement, so I may need to push the old van for as long as I can. Of course, it would help if I quit lusting for a new truck that is so lavishly decked out it costs as much as does a new Corvette.

September 11, 2001 plus seven years

It is September 11, 2001 plus seven years. Nobody has forgotten.

I am not a righteous man; it is hard for me not to hate those that hate us. It is impossible for me to understand cultures, governments, and religions that sanction slavery and the “honor-killings” of female family members. It is impossible for me to understand why members of a religion can claim the right to kill those that leave their religion, and the right to kill people solely for belonging to other religions. When people declare holy war against us, I do not understand why we do not utterly obliterate the ground they walk on and burn their oil fields beyond recovery. It is impossible for me to understand many things, for only the righteous can love beyond hate, and only the righteous can possess the wisdom to understand the absurd, and only the righteous can forgive. I will never be a righteous man.

We have not had a major incident or attack in seven years thanks to good fortune, and thanks to the efforts of the FBI, CIA, NSA, Homeland Security, ICE, and many other agencies. They take it in the ass when things go wrong; we owe them a sharp salute when things go right.

“Thank you” to all members of our armed forces for taking the fight to the enemy. “Thank you” to the family members of those in our armed forces for their sacrifice and pain. “Thank you” to all of the countries that have stood by the USA.

/JZ

National Preparedness Month 2008

September is National Preparedness Month.

Every now and then, give some thought to “what if.”

Hurricane Katrina was radiant proof to all government agencies that they cannot possibly take care of everyone. Can you take care of yourself and your family? Floods, earthquakes, tornadoes, blizzards, and other events can be so widespread and so devastating that help may take days, even weeks to reach you. How long can you hold out?

Get a kit. Make a plan. Be informed.

FRS and GMRS Radios

Some highlighted words or groups of words in my blog entries are hyperlinks to articles relating to the entry topic. On some web browsers, the highlights may not stand out very well. If you see a highlight that interests you, put your cursor on it and give a click; it will take you elsewhere, use your browser “back arrow” to return here.

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Most of you have seen the little FRS (Family Radio Service) walkie-talkie style radios that are now sold almost everywhere. These inexpensive half-watt gems are fun for kids and somewhat useful for adults. Some businesses issue them to store maintenance and security employees. Range is limited.
The National SOS Radio Network is an all-volunteer organization encouraging people to make FRS radios part of their emergency kits, and encourages development of neighborhood networks. It recognizes that during some emergencies, both wired and wireless phone systems can fail, leaving people no way to communicate.

The FRS radios don’t require any license, the somewhat more expensive and more powerful GMRS (General Mobile Radio Service) radios and hybrids do. FRS radios and GMRS radios share channels 1 – 7, channels 8 – 14 are for FRS half-watt use, and channels 15 – 22 are for GMRS radio use.

Channel-1 is suggested for use as the FRS emergency channel, but it is has no true legal restriction. Channel-20 is considered the GMRS emergency channel, but here again there is no official rule. Beware, I doubt that anyone within range of you will be monitoring these channels unless there is some sort of regional disaster underway. If you want to use these for emergencies you may encounter while hunting or hiking, make sure you have a friend or family member listening and within range.

Colt Delta Elite

(NEW PHOTO 6/8/2018)

If the world allowed me one handgun, a choice of a revolver or a pistol, it would break my heart and give me fitful anguish making a choice.

I would want it to be versatile, with possible use as a hunting gun, carry gun, and home defense gun.

I have long been a fan of the 1911 system as a platform for different calibers. One of my favorite blasters is the Colt Delta Elite, chambered for the 10MM auto. There are hunting loads and personal defense loads available for the 10MM. My favorite load is the 175-grain Winchester Silvertip, reliable and accurate in my particular gun, not the upper end of potential power for the 10MM but still very substantial.

Yeah, if I had to live in a one-handgun world, this may well be my choice. Then again, if the one-handgun world allowed me to keep a few rifles and shotguns I would probably choose a 1911 .45ACP over the 10MM auto.

CLICK HERE to clear your fear of Delta Elite frames cracking.  EDITED to a new URL 6/8/2018


Text and photos below were editied in 6/8/2018

Serial # dates this pistol to 1988

The Delta Elite is the only government model that I prefer to shoot with the front-strap wrap-around rubber grips. 

Why did I choose to purchase a Delta Elite?  Happenstance mostly;  this lightly fired pistol was available at a bargain price because of a few scratches from handling, storage, and disassembly/reassembly. 

CLICK HERE for Delta Elite Range Session 

Gun Holsters

Several hits to the Google Blogger version of this site used keywords indicating a search for holsters. Search engines often return everything except what people are looking for, so on the left-hand side of the Google blogger page I now list over forty sources for gun holsters, sometimes searched as “gun leather.”

Very few areas of this country allow open carry of a handgun, so if you want to strap on a gun and holster to parade around in public you had better know what the law in your area allows.

With the exceptions of the states of Wisconsin and Illinois, it is possible for law-abiding citizens to qualify for a concealed carry permit that allows public carry of a handgun, provided no one discovers you are carrying it. Should you accidently flash the gun and holster, or display a telltale gun-bulge under your clothing, you face arrest and loss of your carry permit. Choice of truly concealable handguns and holsters is imperative. If you have the body-frame of Clint Eastwood, carrying a full-frame S&W .44-magnum may be easy. Most find pocket or purse carry of a Seecamp or similar size pistol much easier to manage. The above photo shows an S&W J-Frame revolver in a deluxe Gaylord 8-ball pocket holster, designed by the legendary Chic Gaylord in the 1960s, today made by the well-respected holster maker Lefty Lewis of Bell Charter Oak. If you are restricted to a wheelchair and need a holster that fits your special needs, Lefty has some designs for you too.

Most holster makers offer goods that will last a lifetime, and a very few such as Matt Del Fatti offer custom leather that is nothing short of artwork.

I hope you find what you seek. Stay safe.

/JZ