Infinite Consciousness

Lets start by looking at some charts.



Look how GBP has cratered against US$:




EUR weakening against US$ after some technical strength last few weeks – should go below low point from a couple of months back:




The AUD’s cratered against US$ too, but should go lower a bit more:




And finally I expect the CAD to continue to weaken against US$ for about 2yrs – technically that’s what is indicated – US$ becoming stronger in the Americas:








Although I have a feeling at least the EUR (if not all of them) will go lower against the $, before starting to recover (I’m thinking $1.10/1EUR is a great place to get in – its @ 1.33 now). Basically folks want the safety of $ now (short to mid-term until another currency gains decent foothold in the commodities/world market as de-facto currency), since Obama is promising to pour money (literally) into the economy, and EU & UK are still getting worse just like the US . I believe EU & UK manufacture more than the US today (especially Germany for e.g.), and will eventually bounce back faster than US, but the amount of money expected to be poured into the US economy will be far greater than they can/want to spend.

Long-term this kind of spending will put massive pressure on the US $, which is what I’m hedging on happening. But for now, let these currencies get cheaper for us to afford more of them, and then pounce & ride them up.

The yen is a different matter – its become very strong against the $ (strongest ever in at least 10 years) - still don’t understand why – latest report is apparently because they’re pouring more money into their economy than us (but I still don’t get it). Bottom-line, can’t afford to buy now – I wanted to buy when rate was 100yen to $1, but wasn’t sure of myself & couldn’t get myself to commit; now its @ 89 – both damn (for not pulling the trigger) & wow (since I was right & didn’t think I could be that right)!

I’d put more money into the EUR than AUD or GBP, but I want to hedge against the EUR using the GBP. Long-term I think the English will switch over to the EUR, but that’s probably a generation (~decade) away.

Both AUD & CAD should get stronger as the world starts expanding again and starts buying up commodities – both countries are commodity rich, but that will take at least 2 years or so to happen – India is in for a real bad time with economy, elections probably in May and now huge corporate scandals (first Satyam, & now Wipro), and China needs to digest its decade long growth (from a cities standpoint, while Gov focuses on rural growth) & exports recover (Olympics over – so no reason for massive boost to cities and make the local honchos more powerful).

Will stay out of South American currencies, since their governments are corrupt at best and will usurp our money at the drop of a hat (see what Argentina did by deciding to default on debt – brazenly). Brazil (oil & natural resources) & Mexico (oil & cheap import points for the US) may turn out to be long-term winners – just don’t want to take the risk when richer feeding grounds available that are better able to withstand currency/economic crises – EU, Australia, Canada & UK.

World stock markets have tanked (for a couple of months at least), there is no indication of recovery of the housing market anytime soon, short & long term interest rates on CDs/MMAs are in the 3.x range with the Fed expected to reduce rates again, the job market has soured considerably, the economy is in a recession (3rd quarter growth was negative, although we don't have the official numbers for the 4th quarter yet) corporate profits are low at best with companies deciding to reduce/forgo dividend payments, and lets not talk about our 401(K) or similar retirement accounts (folks lucky to have pension plans are probably the only ones seeing rising balances even at reasonable interest rates, although most large companies have cut back if not done away with such plans).

Lets review some options to see what you can do with your money.

Cash (Savings, CD, MMA, Checking accounts):
You can just hoard your cash at home or safe deposit box, or keep it in a savings account (which barely gives you any interest; exceptions follow). The Gov (FDIC) now guaranteeing upto $250K for individual Savings, CD, MMA, Checking accounts (couples are protected upto $1mil but you'll have to setup 4 different accounts under appropriate "names", or you can keep upto $250K each in multiple banks, which may be a hassle keeping a tab on, of course), having money in an ING Orange savings account yields 2.75% interest as I write this article - better than the dwindling 401(K) plan! You could also use ING's Electic Orange checking account for a yield of 1.5% for account balances upto $50K. Everbank beats checking account rates with 2.01%

Pls note that these banks are Internet banks - so, you have to do everything via snail mail (unless you combine these with a "pass-through" traditional account at a bank that maintains ATMs', using fund transfers to transfer money across accounts (which still take a week though, and some like Bank of America charge for each external fund transfer). I've personally used Corus Bank, Everbank, CapitalOne, and GMAC Bank, although I prefer and use Everbank most for such needs now. I hate Bank of America - they're huge, but provide the lowest interests, but they have ATMs in most states.

Use BankRate.com to find the best rates, then call the banks (ideally via bankrate.com) to choose the best product suited for your needs. Internet research is assumed, but sometimes its faster to just call.

Gold:
The price of gold has fallen considerably (about $735 as I write this article) since hitting a closing price peak of $1002 the week of March 2008. Use the linked chart (you can change the time scale to weekly to see above mentioned trend) to see how this precious commodity is behaving.

I think gold will probably find some support roughly around $650-700 (I'm not a short term trader), before continuing its downward slide for a few years. The support will probably come as we get absolute confirmation that we're in a recession; it may happen now also, but I doubt that.

So, if you like to "play" in markets on a daily basis look for that sign of support for a few weeks/months and ride it to make some dough. If you're thinking longer than a couple of months, I suggest looking elsewhere to park your money.


Stock Market:
This is one of the worst stock markets to be in. There is no one area that is consistently outperforming the market, at least for a retail investor like us to be participating in it. Sure you can day trade, or even do trades over a few days or weeks, but think about the anxiety you have to undergo. If you can handle it, go right ahead. My suggestion, stay out of this volatility (up 400 points today, down 300 or 500 tomorrow). Do you really need the stress of worrying about your money, while working full time (as if worrying about your job isn't enough already)? Some individual stocks are holding up very well while everything around them crumbles, but even they're not completely safe. You never know what tomorrow brings. Btw, I'm not referring to big names. Most of the names I'm seeing holding up well I've never heard of over the years - some went public in the last year or so. Keep a lookout for these guys, since when the market turns (which it will, even if it is say mid or late next year), these stocks will be the first ones out the block. Check out Investors Business Daily as a potential tool for your stock investments - its an excellent market newspaper while providing investment tools that are criticial to your success.


Euro (and possibly other currencies):
The time to bet against the US$ is long past. You'll probably get a chance to do that again, but not in the next year at least. If the US economy turns around before other world economies (especially China & India), then don't even think of betting against the $. Pls note that I imply China & India are going through corrections; even though they technically are not in recessions, the slowdown in US & Europe affects their growth since both these countries depend on US consumption along with increasingly their own (they're economies haven't matured to the point where they're sustainable by their surging middle class yet, although that time will come). India's upcoming election in 2009 with its inherent uncertainties will hurt, in addition to the inflation hurting right now (the fuel aspect will calm down, but it still imports most of its oil) along with the credit crunch (which affected this country in unforeseen ways). I am deeply optimistic on India, and this is a good time to hone your research skills and decide your move as this country eventually bounces back (probably at the same time as the US). The Indian Re. has taken a serious hit against the $; I wouldn't buy $ if I was in India now, although this is a great time to convert cash into the Re., since I doubt we'll see the Re. falling too much below the Rs. 50mark against that $.

China is a different animal. Its become a superpower both economically & militarily, possibly its weakest link being from a social standpoint (tensions between rural & urban China). While the Chinese government is working to reduce that massive divide, this credit crisis and their tanking market may force some kind of a showdown in 2009 (my level of confidence on this is low, not having been in that country ever and not understanding its social & political structure, except reading about them). Its currency has actually appreciated against the US $ in recent weeks, and the fact that it has loads of US treasury bonds along with the artificial price of the yuan probably works in China's favor. Too many unknowns about China, forces me to stay away from the yuan, along with the fact that you cannot own it in the open market unless you're Chinese or married to one.

The yen strengthened considerably against the US $ in recent weeks. Japan is in a recession, yet such a behavior. Its been written that they're probably going to be one of the world's credit crisis saviors along with China. They've nearly put their decade long deflation behind them. I see Japan "rising" again along with its currency against the US $ in the future; this may be a possible currency play for the mid-term (couple of years), if you can keep up with a country's news that's awake when you're sleeping in the US.

I would buy the euro when it falls a bit more - probably closer to the $1.15/$1 mark. The ECB along with the Bank of England have been slower than the US Fed the last few years in managing interest rates. That provides an opportunity for you to get in around that price, and then hold for the long-term. If nothing else, you can spend the euros when you visit the "continent", although I think the euro will be a very safe bet from a long term standpoint, as the US $ restarts its slide post this worldwide economic downturn (and the world starts looking for a $ replacement/balance for world trade).

Home Improvements:
If you believe this real estate downturn will eventually end (peak to peak real estate cycles seem to last about 8-10 years), and you need to upgrade some part of your current home, or need to expand a wing instead of moving to a bigger house due to addition to your family, or some such eventuality, then you could consider making such improvements as a way of investing in your home, which is considered by some to be an asset. Depending on who you ask, that statement ranges from true, to partially true to absolutely incorrect (per Rich Dad, Poor Dad author Robert Kiyosaki for e.g., if your house not providing some cash back, how can that be an investment?). I think its probably not so black & white for most folks; as long as you have a decent amount of equity in the house (and I mean a number higher than 60-70%), your house could be considered an asset. Problem is it does generate any cash, but you cannot sell it & keep all the money, since you will have to live somewhere, meaning you will use that money to buy another house - the only way it becomes a possible asset is if you downsize.

Farm Products:
I single out farm products among commodities in general, since as the world population grows and the middle class in India & china continue to explode, demand for farm products and better ones at that will do the same - explode. So, while we may believe the commodities bull run from the past few years has come to end, I believe it will restart that run after this economic crisis abates or the world economies start pumping in money to get out of the current mess or cut rates further to jump start their countries, thereby restarting the worldwide inflationary trend. India has seen immense growth in the farm retail market in the past couple of years with Western style food marts mushrooming in the cities. The supply chain mechanism to get produce from the farm to the distribution houses to these marts are become increasingly sophisticated, so that intermediary influence can be reduced and profits of the mart owners increased. This is a potential area to invest in - either the companies that are opening these stores like Reliance, or buying farmland itself in India. One huge caveat is that land records & the law upholding a person's ownership have the most dismal track record unless you have connections. So, be careful how you invest your money in this area.

Residential Real Estate:
Again, if one believes this residential real estate debacle will sort out over the next so many years, this is a potential time to think about (not buy yet) what kind of residential property to invest in. Pls note that I'm referring to residential real estate market only; the apartment real estate market is managing to hold up ok - there are issues, but its not a disaster like the residential side of things. Some folks are doing short sales of the single families hit by the owners' inability to pay their mortgage and the Banks deciding that they'd rather get back a certain percent of their outlay in mortgages rather than take ownership of the houses underlying defaulted mortgages. There are lots of people/companies who are willing to teach you how to get into this real estate mess and make a profit. Read in between the lines to ensure they'll just not educate you theoretically but support you after the workshop ends (and how) before jumping into this market. This is not the time to buy & hold single families, since you don't know how much further prices will drop, especially the worst hits areas (not just Florida, Phoenix & Las Vegas, but places in your backyard as well). Wait for the buyers to step in before you buy & hold. Short sale transactions the way to make money at this time.

Apartment Real Estate:
While technically part of Commercial Real Estate, apartment buildings are in a class of their own. These make money for you right out of the block, if you buy right, finance them right, and continue to make money for you if you run them well over the months & years. There's significant money to be made, depending on the size of the building/number of units. You cannot make money where these buildings are already expensive - most of the East & West coast areas, and you definitely don't want to invest in areas that are bleeding jobs or people (out-migration). Leave these areas of the country out, and you still have a ton of areas to invest in. Depending on the area, there wasn't a lot of construction of multi-family buildings (as opposed to duplexes or fourplexes) in the past few years. So, there's not a lot of spare inventory. People will always need a place to live, even if they cannot afford to buy a house. That is especially true when credit's dried up, like now, and companies are shedding jobs. So, rentals become the way to go until the market recovers. If you're looking for passive income (let management companies run the buildings for you of course), and have some money in the bank, this is the way to go. You will be surprised how many units you can own for the price of a single family in areas that didn't explode during the recent real estate market appreciation. If you've done your homework, the rent tenants pay, will cover all maintenance costs including management fees (about 6-7%, although some areas charge more, while others charge less), and also pay the mortgage with money left over for you to start thinking about purchasing your next building. Don't get me wrong - this is not a get rich quick scheme. It takes time to amass the kind of buildings/wealth that will enable you to leave your favorite 9-5pm day job, but it happens nevertheless. And once that happens who cares about how the stock market is doing today, although if you're intelligent you'll be making money in that market also.


Self Directed Retirement Accounts:
This is a relatively new investment type; well not necessarily new, but has become known to at least investors only recently. Google "IRA real estate self directed" for example, and you'll get articles such as this. You can own real estate for investment purposes through a SDRA (self directed is not a type of IRA, its just used to distinguish IRAs that can hold alternative investments like real estate; you can also own the regular stocks, bonds, etc.). The catch is that you have to do everything via the IRA. The down payment comes from IRA money, expenses on the property comes from the IRA, income goes directly into the IRA, and so does profits from a sale. Same as a stock or mutual fund owned by an IRA, only different since this is actual, physical real estate. You can either setup a LLC for this and write checks yourself for better/direct management of the IRA, or let the Custodian do it, meaning there will be a time lag in whatever you do and costs associated with each & every transaction. The same custodians who offer this product also offer business owners a SD (self-directed) 401(K) product. Neat! The only thing I cannot help you with yet, is pricing for this kind of offering.

Labels: Personal Finance

If you're thinking about what to do in Sydney, you won't be disappointed - there's tons. But, in case you want to get out town and/or have more than a few days at hand, you could do a day trip to the Blue Mountains 90mins by car from Sydney or 2hrs by train.

There are plenty of trips by tour companies including 4WD tours, like APT or Frontier. But, based on our personal experience I recommend doing it yourself at your own pace. Regular tour companies (Gray Line, APT, etc.) will take you out on a bus to most probably Katoomba or Leura or both, give you some time to explore by yourself, and then bring you back. They may include lunch depending on the tour and price. 4WD tour operators (Frontier, APT, etc.) will take you out in one of their 4WD vehicles - small buses with a very high suspension to the layman, drive you around a remote section of the eucalyptus forests in the mountains, with some quick opportunities to explore by yourself. Nothing fascinating, and definitely not much independence to do your own thing. Ok - slightly exciting for people who don't want too much of the outdoors.

So, what can you do? You could drive or take the train to Katoomba, home of the 3 sister formation. There take the hopon-hopoff tour of the area, take a hike (bushwalk in Australian) wherever your heart desires, and then take the train/car back to the city. This gives you total independence to do things at your own pace. A suggested itinerary - check out the views at Echo point including the very well known 3 Sisters rock formation. You can then decide to take the steepest train ride to the bottom of the valley & cablecar back up, along with another cable car ride across a deep gorge. There are other places to visit or bushwalk, like the Mt. Tomah Botanic Garden and Bridal Views Falls.

There are a ton of sites with more info, including this one.

The Consulate General of India (CGI) in New York (NY) is pleased to announce the launching of the OCI (Overseas Citizenship of India) Application procedures and will commence receiving the applications for OCI on Monday the 9th of January 2006 from residents of the following States and Territories: New York, New Jersey, Maine, Connecticut, Massachusetts, Ohio, Pennsylvania, Puerto Rico, Rhode Island, Vermont and the Virgin Islands. (Applications will be accepted only through express mail. For procedural details and clarifications, please go to link (Steps to Apply for OCI).

In case you're wondering about the difference between these 2 terms:

* Definitions of inflation, inflation rate, and core inflation rate

* Current rates for 2005 indicate inflation is up at an annual rate of 4.9% due to a 37.1% annual energy price spike. This compares to 3.3% inflation rate in all of 2004. However, the core inflation rate is currently at 2.1%.

Note: To clear up a common misconception, inflation doesn't cause price increase. Its the other way around. When prices go up (like energy prices have done recently), there is inflation. There are various types of inflation - we're in a manageable state at the moment, meaning low-medium.

Overview:
If you're planning to visit the Caribbean island of Puerto Rico, then you need to know (unless you knew already) that Puerto Rico (PR) is a commonwealth of the US, and its people US citizens.

Here's some info on PR based on our recent visit:

Our Itinerary:
* Fri - landed in San Juan late afternoon, picked up rental car, checked into the Marriott Courtyard, and had a romantic dinner right on the beach under palm trees and listening to gently crashing waves.
* Sat - drove to the El Yunque tropical forest, hiked to & had a bath under the La Mina falls.
* Sun - checked out the San Felipe del Morro fort, old San Juan and then drove across the impressive & fabulously green La Cordillera Central mountain range to Guanica in South West PR, and checked into the Copamarina Resort.
* Mon - pool, massage & took a night boat ride to check out the bioluminescent bay in La Parguera.
* Tue - took the ferry to Guilligan's Island, and snorkelled right off the beach in the shallow bay.
* Wed - saw the Arecibo observatory, and drove along Rt. 111 - my most challenging drive with hairpin bends every 10-15 secs with "in-bends" in between.
* Thu - drove to Rincon, kayaked to Guilligan's Island & snorkelled, finally had a great local cuisine Thanksgiving dinner.
* Fri - lay in the cabanas by the ocean, swam in the pool, and flew back home.

Amazing Moments/Great Experiences:
* driving on Rt 111 - hair-raising hairpin bends & some amazing mountain/valley views
* kayaking across Guanica bay to Guilligan's island & snorkeling off its beach
* taking a bath under the La Mina falls

Fast Facts
Money:
* PR is part of the US - so, the currency is the US$.
* You can use your credit card for most things in San Juan and bigger cities, but be ready with cash at small shops and out of the way towns.
* The great thing is that there are ATMs nearly in every town. So, if you don't have cash, use the ATM, although finding anything is tough given the "excellent" directions.
* Recommend carrying some cash and using credit cards for big purchases or when paying your hotel bill.

Driving:
* If you're going to stay in San Juan only, then you could possibly do without a car. If you do rent a car, think about parking costs within the city. Drivers within the city are rash just like any other city. Lack of appropriate signage and road conditions make it more dicey than on the mainland.
* Definitely get insurance coverage from the rental agency from a peace of mind standpoint, if you're driving in the San Juan area.
* If driving out of San Juan, you don't really need the same insurance coverage. Your credit card should cover collision - which is sufficient. Please confirm this before you leave.
* Another option is to check with insurance company, to see what kind of coverage they provide when you travel yo PR.

Miscellaneous:
* US Green Card holders: Please take your passport & green cards. Outbound from the mainland is no problem at all. However, Immigration will want to see them before you board the plane back.

San Juan:
* Well this is the main city, and there is a lot to do if you want to.
* San Juan has multiple communities like any other city, like Condado, Isla Verde & old San Juan.
* Old San Juan is quaint, with tons of shopping and eateries.
* Some other places to check out include the El Morro, San Felipe Castle with spectacular views (watch the video inside the compound to get acquainted with the fort & island's history), La Princesa promenade, San Jose church, the blue flag Carolina beach, etc, etc.
* Of course, you can decide to not do any of the sightseeing - just hang out on the hotel beach in a hammock maybe with a drink in hand.

El Yunque:
* If you're going to be only in the San Juan area, definitely visit the only tropical rain forest in the US, El Yunque caribbean national forest. If you're going to the South or the central part of the island, you'll enjoy better experiences, although they may not be as well organized as it it here.
* There is not much at the El Portal Tropical Forest center, which charges a $3 entry fee, although the fee goes towards maintaining park. You will get a detailed park map though.
* You can simply drive around in the park, stopping at the La Coca falls, Yokahu viewing tower, etc. There is really one road - so you can't get lost.
* There is some decent hiking, including to the La Mina falls where you can take a dip in the natural pool (take a change of clothes, a snack, and definitely enough water), or even stand under the falls themselves - quite a cool experience. Its a 30min trip each way, so plan accordingly.


La Coca falls


La Mina falls






El Yunque's tropical rain forest among mountaineous terrain

Guanica:
* Southwest PR's coastline is on the Carribbean Sea - so no crashing waves as witnessed in the areas bordering the Atlantic ocean. Guanica is located on a tranquil & huge bay.
* Cana Gorda is a well known public beach in this seaside town. It is maintained well, but whether you like a beach on a bay or prefer crashing waves is a matter of personal preference.
* Guillian's island is a protected island off the coast of Guanica, reachable by a ferry that runs every 45 mins from the Copamarina resort and nearby dock. It charges $6 for a roundtrip ride - you pay cash getting on board. The island itself has nothing other than picnic tables & restrooms. So, take your own food, water, etc. But you can snorkel right off the beach - the water is shallow since this is part of the bay too. We saw 11 types of fish over 2 days (8 on the first trip itself), and we ventured maybe 3-5ft into the water. You'll see fish in the water sitting on the dock itself. Kayaking over to the island is a great experience - try it. It will only take 15mins outbound and less inbound due to ocean currents & wind.


Copamarina's view of Guanica bay


Ways to relax by the water


Pool views


The cabanas were very comfortable - we loved lazing in them after breakfast


Guilligan's island - you can wade from one side to the other


Mangroves on Guilligan's island


A great/easy place to snorkel in the shade of the mangroves - just stand in the water actually...


Mainland while kayaking back from Guilligan's island

La Parguera:
* We visited La Parguera only in the night. It supposedly is home to a fabulous bay with tiny islands with beaches and canals all around. Its a tiny village, but the "Wall" famous for its scuba diving & snorkeling is closest to PR here.
* What it is well-known for is its bioluminiscent bay. We took a boat ride for $5 on one of Johnny Boats'. The ride itself is worth it - it was a anamazing ride in the night with hardly any light around. But, the great part started when the skipper's "assistant" jumped into the water and started swimming/moving around. The water glittered, rather glimmered with tiny dots of light. It was beautiful in the night sky. Evene with a generous tip to the assistant, the trip is absolutely worth it.
* Getting to Johnny Boats' (yes its spelled that way) is tricky at best, since signs are non-existent and you have to ask around. Take Rt 116 West from Guanica towards La Parguera of course. You can get 116 from Rt 2 West. Take Rt 304 South, and go all the way to the end, where you come to a T. Take a left and park in the parking lot by the water. Walk back to the T, and make a left into the plaza. You'll see a Johnny Boats' stand right in front of you. Go around 7pm, tours start from 7:30pm.
* There are 2 pretty decent "paradores" if you go right at the T (or simply walk back from from the parking area). One is Villa Parguera - the food is ok but expensive. The other one is Posada Porlamar, which has an attached restaurant called La Pared. The place doesn't look much at night, but the food is excellent (yes, trust us on this), although a bit pricey (totally worth it though). Its right on the water, so during the day it should be nice to sit out.

Ponce:
* The 2nd largest city after San Juan is really not that big.
* The main square is pretty nice with fountains, the Parque de Bombas. You can park right at the square, which lets you walk around the place.
* You could check out the La Guancha seaside boardwalk south of the city. Take Rt 12 South from Rt 52/2 to get it from near the square.
* Castillo Seralles is beautifully decorated with lights, and looks really nice in the night from the town square. I believe its a nice place to visit.
* Its recommended to visit Hacienda Buena Vista also, which is just north west of Ponce.


Ponce square lit up


Pretty neat combination of lights




Nice detail


Quaint architecture - actual building is much better than this snap

Arecibo Observatory:
* Getting to the Arecibo observatory is a lot of fun in itself (although it can be frustrating due to lack of road signs), if you're driving of course.
* From San Juan, take Rt 22 West to 129 South, 134 South/East to 635 East to 625 South. This is the fastest route.
* From the South, take Rt 10 North from Ponce/Rt 52 to Adjuntas. You'll suddenly find the expressway ends, and you have to turn left sharply. Immediately get onto Rt 123 North which is not an expressway. They're still working on it from Adjuntas to Utuado. If you've gone into Adjuntas you're going the wrong way. After a challenging drive on 123 North along a narrow road fraught with hairpin bends, you come to Utuado. Make sure you get back onto Rt 10 North there, by making a left when you reach the valley bottom. Take Rt 10 North all the way till you make a left onto Rt 652 West. Take Rt 635 South to 625 South all the way to the observatory.
* When you see it first, it looks awesome - this huge bowl with the massive receiver hanging above it. Just like in the James Bond movie.
* There is a show about life at the observatory and what goes on behind the scenes every 15mins or so after 11am. They alternate between English & Spanish every show I think.
* While coming back to the South West, you can try the the alternate route to get back on Rt 10 South. Get to Rt 111 using Rt 129, and then start the climb down to Rt 10 - you'll meet Rt 10 South in Utuado. Take Rt 123 South this time back (since Rt 10 is being built from here upto Adjuntas), getting back onto Rt 10 South @ Adjuntas.

Rincon:
* A sleepy little town on the west coast, although the ocean here is far from sleepy.
* A beautiful beach is Steps beach (apparently you can snorkel right on the beach in summer). Its too rough in winter or during storms. Its off Rt 413, which you can get to again from Rt 2 (goes around the coast of the entire western half of PR).
* The is a great stretch of sand if you continue on 413 from Steps beach to the Desecheo dive shop. Then go right at the forsk in the road. At the top of the hill make left just before the bakery all the way down to the beach. There is a small restaurant with a hotel right on the beach - nice views of Desecheo island and some surfing.
* You get views of Desecheo island from all along the beaches in Rincon. The island is closed to visitors, but dive companies take you there for scuba rides - apparently a great place for that. They don't offer snorkel trips there anymore from a value for money standpoint.

Wrapup:
Highly recommended places that I didn't cover:
* Luquillo beach and Fajardo to the North East
* Culebra & Viques islands East of the main island - with apparently amazing beaches, snorkeling and bioluminiscent bays
* The north west coast/part of the island
* Town of Aguadilla and Isabel beach to the North West

Personally I think PR is way over-priced. But then, not having visited too many other Carribbean countries/islands, that may be an unfair statement. There is also the view (which I agree with) that the Carribean is the poor man's alternative to Hawaii (I personally highly recommend the garden isle of Kauai, but have been told that Maui is amazing too, but so are all the other islands - each in their own way).

Happy Halloween, funny halloween...

Un-noticed by many (& probably under-reported compared to other events like US-Katrina, Pakistan-earthquake), a Chinese spacecraft with 2 astronauts spent 5 days in space & returned back to Earth successfully.

The Chinese plan to have their space-station in 5 years opens a new dimension to space flight. Btw, what happens to the ISS then, already delayed by various issues one of the major ones being lack of US shuttle flights?

Combine that with successful efforts by multiple US private companies to launch spacecrafts, we're getting ready for the space age - don't you think? Rock On I say...

Pretty straight-forward post - eh?

Transformational Space, or tSpace, successfully tested its new spacecraft over California's Mojave Desert earlier this week -- dropping a 23 percent scale model of its rocket and crew capsule from a high-altitude jet.

The photos are very cool - definitely click on that link...

This is an old post written sometime early 2003, probably March '03. It was relevant then, is now, and will probably continue to be so for a long time to come...


Article by Lewis Findlay
MD, CantorIndex

These days, with the general slump in equities affecting our pensions and other investments, people feel a greater need to take control of their finances. Its not enough any more to give your money to someone else to manage. Being long on equities isn't a good investment strategy - people need to do more than this. But the problem about trading for yourself is that it can be addictive. The love of money acts as a prime motivating force, and the buzz, or atmosphere around the markets can influence decisions unfavourably. At Cantor Index, we have 6000+ clients trading with us through spread betting giving us a unique opportunity to analyse who wins and who loses, and work out why this is.

No-one can ever fully understand the markets, if you can accept this and realise that the market can hurt you, then you have a head start over other people. One of the most important things to do if your position is losing is to remember why you made the decision in the first place. Hopefully that trade was based on a variety of things - you felt the economic news was going to go your way, or the charts were indicating a favourable movement for instance. You made the initial decision to buy or sell in the cold unbiased light of day, when you had no position, without pressure or emotion, with access to the facts. This is the best possible place to get an accurate view and should be your reference point, when the market starts moving against you. Don't forget where and why you started. When a position starts losing money, the pressure is on, it is not as easy to make good decisions.

Try and imagine what other people are thinking as this will influence their actions and give you an opportunity. Right now there is a lot of pain around - the market is moving more points than ever before and prices are at the lowest levels for three and a half years. This is the time to stand back and survey - what are people afraid of? What are they likely to have done in terms of trading activity given that fear? It could be for instance that a lot of people are short. In that case how much lower can prices go if everyone has sold? If very few are long perhaps markets overall are more likely to go up. Try and build a picture of what the weak scared people are doing. The market will hurt the weak people all the time, it will squeeze them on the downside and on the upside.

The main two things to remember when you are trading for yourself are
1. avoid greed and fear
2. discipline

If you can remain calm in good times and in bad, then you can get rid of the knee jerk reaction which can be the worst possible decision. It is hard to do this when the markets is full of panic, and it often means that you dip into the markets too early. Don't forget it always looks worst at the lows. If you look at graphs of price movements you can see that at the lows of the market there are high and often record volumes of trade. Why are there so many people selling at the worse possible time? It is because of panic. The inverse of this is that the outlook always looks great at the high and this is when you often see very large numbers of keen buyers, trading at the worst time.

Before you trade you need to understand the risks. These are set by the size of your position, the tick value of the contract, volatility, potential loss and the probabilities of different outcomes. It is important you are comfortable with these things. If you get freaked out then you are the sucker the market is looking for - it will suck you in and spit you out. It goes without saying you only risk money you can afford to lose. If you don't have the discipline to cut your losses, use stops to protect yourself against panic.
Day trading is a useful discipline and can help you gain experience. Trading one day indices for instance means that your position is flat at the end of each day. If it goes against you, at least the agony isn't prolonged.

Timing is everything. Don't worry about buying low and selling high (or the opposite), focus on buying lower and selling higher - if you aren't there at the very top or the bottom of the market, it doesn't matter. Don't be a bargain hunter - its too risky. Its like buying rubbish in the sales, we all do it, but just because its cheap, it doesn't mean its worth the price,

A good market maxim is buy the rumour sell the fact. A good example of this was Zurich. People widely expected bad results, and sold up until the announcement. When the results finally came out, as predicted, everyone was short and the market could only go up. It helps to get inside people's heads and work out what everyone else has done.

When deciding whether to run a position or go flat, consider whether the original reasons for doing the deal are still valid. If so, consider leaving the position where it is. But make sure you take decisions away from prices and profit. Going flat can on the other hand offer a respite in times when there is a lot going on. You might see something you had previously blocked out. The best way of being honest with yourself is not to have a position.

Warren Buffett said "lethargy bordering on sloth is the cornerstone of an investment style... much success can be attributed to inactivity". He is right - in many ways the less you do the better, that way you will only act when you are sure. You might only have a strong view once a year, but then it will be worth acting on. You will jump in when you see strong signals rather than weaker ones. In this case you might want to consider looking at a wider range of products. You might see one or two strong signals for each product every year, and having a wider range of markets to view may lead to greater trading opportunities.

Try to become comfortable shorting the markets. It's a necessary tool you need to have. Otherwise you are in a boxing ring with one arm tied behind your back.

Online trading offers several advantages. You don't have to speak to a dealer, giving you anonymity, the reassurance that prices must be neutral, and you avoid any embarrassment you might feel in closing a losing position. Also constantly updated prices give you additional information, and the environment is controlled and calm, there are no sounds or rights to foster panic.

A post from someone out there:

The Connecticut falls may lack the solemn majesty of Muir's Sierras or the thunderous melodrama of Niagara, but they're easy to reach, so uncrowded that you may find yourself alone, and, by and large, in their natural state. Waterfalls large and small dot the Connecticut hill country, but the greatest concentration is found in the mountains near the Massachusetts and New York borders.

For instant gratification, it's hard to beat the highest waterfall in Connecticut, Kent Falls. Pull into the parking lot on Route 7 four miles north of Kent, and you'll see a covered bridge and, a few hundred yards away, the lower section of the 200-foot falls spilling off the hillside over rippled slate and marble ledges.

Two guys in bulging fishing vests were standing awestruck on the rocks when we arrived. We inquired if they were hunting waterfalls, and the taller of the two touched his hat, where various configurations of hooks and feathers were pinned.

''Nope," he said. ''Trout."

His buddy shrugged and shook his head in wonder at the falls. ''We were just driving by and had to stop and take a look."

Many people snap a picture, then settle in with a picnic by Kent Falls Brook or in the grassy meadow. But you can get a good aerobic workout ascending to the upper falls on the stepped trail, an amenity originally created in the 1930s by the Civilian Conservation Corps. Stairs of planks, railroad ties, knotted roots, and natural stone outcrops climb 250 feet over a quarter mile. The walkway ends in a hemlock glade with an overlook on the upper falls, a single vigorous chute that whooshes through a rocky cleft, splashes onto a ledge 30 feet below and then crashes again to a deep pool.

Our favorite woodsy walk, though, was to the Reed Brook falls in Dean Ravine, about two miles east of Lime Rock off Route 7. Anticipation is the name of the game here. The blue-blazed trail through the hemlock forest follows the rushing brook as it gains momentum to get a running start for the leap into thin air. The trail suddenly leaves the brook at the cataract of a small cliff, continuing into the woods to a hairpin that doubles back along the ravine's steep slope to the base of the 50-foot falls. Looking up, you can see the wide cascade emerge from between two big boulders and crash down an almost regular series of stone steps, each wider than the last. Split right and left by blocky boulders, the flow converges for another short drop before continuing downstream. These woods are little tended, so the base of the falls remains natural, a clump of tumbled marble stones and recent deadfall trees.


Our choice for best picnic spot is 60-foot Campbell Falls, in a small park north of Norfolk. (The corner of Campbell Falls State Park Reserve containing the falls is actually in Massachusetts.) You have to lug your movable feast for 15 to 20 minutes down a pine-needle-strewn trail that crosses four rather decayed wooden footbridges. As a ''natural reserve," the park gets minimal maintenance. Storm-blown trees lie where they fall, growing old and colorful with sulfur shelf mushrooms and gray-green lichens.

Many purple trilliums grow along the trail; this member of the lily family is considered an endangered species in nearby New York.

The final stretch of the trail begins at a granite marker denoting the Connecticut-Massachusetts state line. It descends the northeast wall of a small gorge where densely knotted tree roots provide most of the footing. From the bottom of the gorge, the Whiting River seems to burst out of the woods, roaring two-thirds of the way down the embankment to splash into a large, frothing pool. As if it's gained a second wind, the river bubbles over and splashes another 20 feet before it bottoms out as a placid stream wending its way through the hills to join the Housatonic.

If you don't mind the occasional spray (just think of all those negative ions soothing your mood), you can spread your repast on the large, flat boulder of mica schist at the base of the falls. And if your picnic knife is too dull to slice the crusty bread you brought along, we discovered that the schist doubles nicely as a whetstone.

Have a long layover (read 7 hours plus) at Heathrow/London? You don't have to "airport window-shop" that entire time, or try to catchup on your sleep "half slid-down" in an uncomfortable chair. Why not take a quick jaunt around a selected London neighbourhood?

Here's one way of doing just that:
After going through passport control (which might take you an hour or more depending on this "thing" called luck), head towards the Heathrow Express station at any of the terminals - 1 through 4. Take this much vaunted fast train to Paddington station. Just buy a roundtrip 2nd class ticket - no need to buy 1st class unless you don't have any place to keep you're money (all it buys you is a shorter walk from the boarding station entrance). The roundtrip price is £26.

Buy a day pass for the London transportation system. Fare for a 1-day Travelcard good for all types of transportaion (buses, tube, trams, etc.) in zones 1 & 2 is £6. Walk out of the station towards the post office. In front of the the Post Office building, board bus# 7, 15, 23 or 36 to Marble Arch. Its the fastest way and also more scenic. Get off @ Hyde Park - cross the street using the underground walkway - you've transported to Speaker's Corner by the Arch.

Using the "direction posts/markers", take a walk through this infamous London landmark of a park, to Kensington Gardens.




There you can take in sights such as Royal Albert Hall/Place & the beautiful statue in front










Princess Diana Fountain with its huge swans lazing in the waters and/or sun




Kensington Palace and Orangery Gardens




You can also check out the Princess Diana Gardens.

From there walk to the nearest London Underground stop - Queensway or Lancaster Gate on the Central line. Then switch to the on the green/yellow Circle/District line at Notting Hill Gate station. 2 stops and you're back in Paddington. Using your return trip Heathrow Express ticket, you're on your way back to Heathrow in no time.

There's a train every 15mins. The ride takes 15mins on the Express (add another 8mins if you're travelling to/from Terminal 4), 10 mins to wait for the bus & ride to Marble Arch - a total of about 45mins - 1 hour. Leave about the same time or a little bit more maybe (to be on the safe side) for the return trip back to Heathrow. It will take 1.5 - 2 hours for the walk mentioned above, depending on how fast you want to walk.

Overall you get to spend time in London rather than being holed-up in an airport (however glamorous it is or not), use the very well-connected London Underground (and proudly wear your "Tube/Underground" logo'd shirt after actually riding on it), get a decent workout while taking in some nice sights, and hang out with Londeners' as you troop about town or get an exhorbitantly Euro priced cup of coffee in a local cafe or maybe Starbucks. There are always the shops near Marble Arch or Queensway, including interesting restaurants, like a dim-sum on the same pavement as Queensway station - if you can get in of course (I saw a huge queue in front of it).

Happy London "layover-ing"...