2-5-2013 TUESDAY AFTER LUNCH MONEY MEMO
“Money, young man, is good for the nerves.” J.P. Morgan
Investing is defined as “Putting some money into something with the goal of getting more money back (after taxes and inflation) later.” Sounds reasonable. Well, I rode that definition a bit on Saturday by visiting my local race track.
Santa Anita Park (www.santaanita.com) is the track that ShowTime used for its short lived series, Luck. I say short lived because 3 horses died during the filming, and they couldn’t put up that “no animals were injured in the filming of this project” disclaimer at the end of the show. The show was scratched.
My friend, let’s call her Serendipity, drove us to SA in her Mercedes SLK. But she’s actually an easy going, sit on a newspaper on the outdoor stone steps, eat a hot dog, and mingle with ‘da woikas’ girl. Me, not so much.
At my old brokerage house, we had old day-trader guys who hung out near the quote machine, drank our coffee, and schmoozed about stocks during market hours. Those same guys were on the steps at the track. I wanted to elevate our game. After a small amount of dithering, I agreed to put on the borrowed blue blazer jacket that unknown visitors to the upstairs Turf Club are required to wear, and they waived the $20 entrance fee. (I’m still not sure why I was treated so well…could have been Serendipity…) Continue Reading