In The Current Business Week Magazine
The February 13, 2006 issue of Business Week has some interesting comments by retiring finance column editor Robert Barker. When asked what were his best sources of investment ideas, Barker responded that it wasn't any of the scores of "pros" whose addresses he had readily available. But rather it was "public documents few people bother to study"... such as public companies' news reports and financial statements (8-Ks, 10-Qs, 10-Ks), quarterly updates of investment firms' holdings (13Fs), and details of corporate insiders' securities trades (Form 4s).
All are usually available at a company's Web site and, if not, at the Securities & Exchange Commission's site, through its EDGAR service. Barker adds, "Especially fruitful for me have been the 13Fs, which I have searched regularly for new or expanded positions held by investment managers I admire."
Thus what Barker is telling his readers is the fact that there really are no secret sources of investment information. If there is any secret, it's only to check diligently, and coolly assess, public information!
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Also in this same edition of Business Week is some interesting information about "The Debit Shuffle."
When you swipe your debit card at the supermarket, the cash instantly comes out of your checking account, right? Well, that's what some banks would have us believe. But three Superior Court lawsuits pending in California against Bank of America, Wells Fargo, and Citibank charge that it isn't so. Many banks hold all transactions until the end of the day, then process them in order of highest to lowest charges. When that happens, you might incur more fees than you would have if funds were debited in the order that the charges were made.
Say you had four small debits, then the final one of the day was a biggie that exceeded your balance. If the bank pays the big one first, instead of getting hit with just one penalty for insufficient funds, you might have to pay four or five fees of about $35 each. Banks have long reordered transactions to pay the highest check first because it often was the most important expense.
To avoid such charges, ask how your bank accounts for your debit card purchases. But better yet, always maintain the discipline needed to never allow your financial transactions to ever result in a condition of having insufficient funds in the first place.
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All are usually available at a company's Web site and, if not, at the Securities & Exchange Commission's site, through its EDGAR service. Barker adds, "Especially fruitful for me have been the 13Fs, which I have searched regularly for new or expanded positions held by investment managers I admire."
Thus what Barker is telling his readers is the fact that there really are no secret sources of investment information. If there is any secret, it's only to check diligently, and coolly assess, public information!
--------------------------------------------------
Also in this same edition of Business Week is some interesting information about "The Debit Shuffle."
When you swipe your debit card at the supermarket, the cash instantly comes out of your checking account, right? Well, that's what some banks would have us believe. But three Superior Court lawsuits pending in California against Bank of America, Wells Fargo, and Citibank charge that it isn't so. Many banks hold all transactions until the end of the day, then process them in order of highest to lowest charges. When that happens, you might incur more fees than you would have if funds were debited in the order that the charges were made.
Say you had four small debits, then the final one of the day was a biggie that exceeded your balance. If the bank pays the big one first, instead of getting hit with just one penalty for insufficient funds, you might have to pay four or five fees of about $35 each. Banks have long reordered transactions to pay the highest check first because it often was the most important expense.
To avoid such charges, ask how your bank accounts for your debit card purchases. But better yet, always maintain the discipline needed to never allow your financial transactions to ever result in a condition of having insufficient funds in the first place.
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posted by Bob Moser at
4:45 PM
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