Live To Learn

How a value investor prepares for a Europe backpacking trip

2009-12-21T10:54:00.000-08:00

Tomorrow, I fly-out for a backpacking trip through Europe with by friends Chris and Deep. Part of our pact to "travel abroad until we get broads" -- our 1-liner to explain why we spend Xmas and NYEs abroad until we're tied-down at our home towns (either by family, kids, etc.). Just a normal-sounding bachelors' trip, except the three of us are value investors (Deep and I started Palmanik Investments together; I've been teaching Chris value investing since 2008).

So before I jumped on my American Airlines flight to London, I researched the economics of the airline industry. Here are some back of the napkin calculations and an "inside look" at how an investor prepares for a Europe backpacking trip:

Average fuel cost per mile for airlines in Q3 2009 was $0.035/mile. Which, on my 5,500-mile flight would cost $195. (Interesting comparison: an average commuter spends about $0.10/mile on car fuel costs).
Additional costs in Q3 2009 adds another dime, bringing operational costs to $0.14/mile. Which, on my 5,500-mile flight, would cost $770 net.
I paid $1,200 for my 5,500-mile California-to-London flight, which means I paid $0.22/mile. But here's the catch, I paid $1,200 for a ROUND TRIP flight (so round trip, I flew 11,000-miles which drops the price I paid per mile to $0.11/mile).
Just to break even, an airline would want to charge about $3,000 RT or $0.27/mile on my California-to-London RT flights. I paid $1,200 and $0.11/mile.
The difference between costs/mile ($0.27) and price paid per mile ($0.11) is horrifying from an investor's standpoint. Reflective of the competitive nature of the airline industry; variable costs of fuel; fixed costs of labor, interest, maintenance, etc.; seasonality of consumer traveling; general recession environment.
Based on these back of the napkin calculations, American Airlines is losing a ton of money per mile served. I say this with mixed thoughts -- happy as a consumer, disappointed as a potential investor.

Interesting how much you can find out about a company by just breaking down the basic economics of their product.

Time to pack for Europe.

Cheers, Miguel

Gates and Buffett on "Creative Capitalism"

2008-07-31T16:18:00.001-07:00

Wow, it's been over three months since my last post.

Now that my schooling is done at San Diego State University, I have more free time to read and learn. Schooling is different from education -- and like I told my parents after my graduation ceremony, "now that I've graduated, I finally have free time to start my education."

Speaking of education, here's a discussion (albeit a long one) between Warren Buffett and Bill Gates on "creative capitalism." It's a topic I've never read anything about, but I think some of you will enjoy their in-depth discussion on intelligent philanthropy, how to help poor countries, the inefficiencies of capitalist economies, and Bill Gates' "annual letter" to prospective philanthropists coming out in January 2009.

Enjoy! This one is out of my ordinary postings on value investing and finance.

Investment questions from a friend and my e-mail replies

2008-04-29T17:32:00.000-07:00

After participating in an investment simulation, one of my friends had some follow-up questions for me regarding his investment experience. My friend has minimal investment experience and is a college student. But after you read their questions, you'll probably get the sense that they're thoughtful and very analytical (and possibly a psychology major)!

They threw their questions at a "fast speed and with a dangerous curve," challenging me to dig deep into what I knew about investments and other related fields. I'd like to share with you the short e-mail conversation we had:

FRIEND: 1. Buy low sell high, right? Or is it buy low and keep high?
ME: It's buy low, sell high.

Ideally, it's buy low and never sell i.e. you want to buy a business that will keep growing in value forever. But in reality, value investors often sell their investments for various reasons. Some reasons to sell include: 1) the original analysis of the investment was incorrect, 2) you find a better investment vehicle or, 3) your investment has become grossly overpriced.

2. Does macro economics help?
Very good question and one that is arguable for some folks.

Here are my thoughts: when I evaluate information, Warren Buffett asks if a) is the information important?, and b) is it understandable? There's no doubt that macro-economics is important, but I don't understand it. To me, macro-economics is the oversimplification of a very complex system ... which is the reason why I think people who make investment decisions based on macro-economics often get things wrong.

Going further, I found that you can usually figure out what's going on in the macro level by studying micro level stuff i.e. you can typically make a semi-accurate analysis of macro level phenomenon by knowing and understanding micro level stuff. If you have any questions about what I consider "micro level stuff," please let me know -- that's a detailed conversation in itself.

3. I remember in our business plan our guest speakers used a lot of macro economics to explain why our pricing strategy didn't work. How much of stocks is psychology opposed to economics?
My oh my ... you have wonderful insight! Economics and psychology are very much intertwined -- actually, there's a field called "behavioral finance" that studies the overlap between economics and psychology. You might be interested to study that subject. I've studied it too; it's interesting stuff.

Psychology is very intertwined in stock purchasing. After all, you're talking about a market that is made-up of average investors ... these average investors have wives, children, sit in traffic after work, get mad when their cappuccino is cold, etc. And yes, economics is also involved with stocks ... but to a limited extent. Understanding the main theories of economics is very important, but it's even more important to know when economic theories don't work in investments and to know its limitations.

4. Stocks seem to be partially dependent on demand which is dictated by what people think will be profitable. Does it even make sense at times? Can something so complex be mapped? Is there a field of psychology that tracks the mental processes of investors?
The field of psychology that tracks financial mental process is behavioral finance.

Your question regarding "Can something so complex be mapped?" addresses the concepts of prediction and touches on Efficient Market Theory. In short, I don't think such a complex system such as the market can be mapped and that its behavior is not predictable. That question addresses the subject of complex systems (which the market is) and how to properly act and think in complex systems. I'm a firm believer that something so complex as the stock market cannot be mapped, but with a solid framework you can beat the market return.

Three steps (so far) to a solid investment foundation

2008-04-03T16:42:00.000-07:00

This article is my response to the handful of SDSU students pledging for Alpha Kappa Psi who have asked me questions regarding investing.

Where and how do you start? And which of the 296,318 books on Amazon.com (searched for “investment” in Amazon Books) is the right book to get you started?

This article is purposely general. And if you find it helpless because it doesn't provide you a "formula" to beat the market, then my lack of helpfulness makes up in my honesty: there is no "formula" that will beat the market. But there is a framework that will get you in the right direction, and this framework is roughly outlined below:

Read The Intelligent Investor by Benjamin Graham
After mindlessly studying technical analysis, candlesticks, pennants, the capital asset pricing model, efficient market theory, etc., I stumbled-upon this book when I was 19 years old. If you’re looking for the “Rosetta Stone” to investing, this is it – read it, learn from it, and use it as a solid foundation for investing.

Benjamin Graham taught security analysis in Columbia University throughout the 20^th century and some of his students later became very successful investors, for example, Charles Brandes, Martin Whitman, and Warren Buffett. If you’re scrunched for time, focus on the book’s two chapters on investor and market fluctuations, and the margin of safety principle.

Read Influence: The Psychology of Persuasion by Robert Cialdini
As an investor, your biggest enemy is the person that stares back at you when you look at the mirror. And many famous investors have said it before: the most important requirements to be a successful investor are related to your character and demeanor. For example: discipline, patient, rational, psychologically mature and humble about your "circle of competence."

Your biggest advantage as a lay-investor is your ability to be completely independent of the hustle-and-bustle that is Wall Street. But with the army of analysts, brokers, and forecasters who promise you answers, it’s no surprise why you'd give up your decision making independence to Wall Street’s equivalent of fortune tellers and palm readers. When a Security Analyst is yelling at you to “BUY BUY BUY!!! Predicted to quadruple in 3 weeks!!!”, it’s easy to get caught-up in the excitement.

So, read Robert Cialdini’s book on psychology and you’ll become not only a more independent decision maker, but you’ll have more fun and happiness in life too.

Prepare to “live and fight another day”
Before you invest any money, make sure it’s absolutely extra. You want to be financially ready in case something goes wrong with your investment so you’ll still be able to “live and fight another day.” And aside from being financially responsible, if the money you’re investing isn’t absolutely extra, you run the risk of “caring” about it too much – making you psychologically handicapped from making wise decisions.

Mu Sigma Consulting on SDSU CBA Newsletter

2008-02-04T16:40:00.000-08:00

Here's an article on Mu Sigma Consulting, a pro-bono student consulting team that I co-founded with four of my fraternity brothers from Alpha Kappa Psi.

Thanks to Suzanne Finch, SDSU's College of Business Chief Communications Officer, for researching and writing the accurate article!

Mu Sigma Consulting is a non-profit student consulting team from San Diego State University that provides management, marketing, and financial consulting services to 501(c)3 organizations. Alpha Kappa Psi is America's oldest professional co-ed business fraternity, founded in New York University in 1904.

Is there something you're irrationally passionate about?

2008-01-27T16:59:00.000-08:00

Yes, I'm very passionate about wisdom and about answering my curiosities. I also believe in the discipline of mastering what other people have already figured out, and learning from the mistakes of everyone else. But I don't believe in trying to figure it all out or thinking it all up by myself. Nobody's that smart...

Four years to write and the chapter's almost over...

2008-01-12T15:50:00.000-08:00

To be happily successful in life, Charlie Munger suggests that we "go to bed every night smarter than when we woke up."

For me, college is (almost) done and I'm very excited to give more attention to my intellectual curiosity (college has the uncanny ability to feed you vegetables, when a proper intellectual diet should include vegetables, fruits, meats, and much more).

Summer 2004
Trigonometry
Calculus 1
Introduction to Spanish
Spanish Intermediate Conversation and Reading

Fall 2004
Introduction to Art History
Principles of Macroeconomics
University Seminar – An Introduction to SDSU
Introduction to American Politics, a Global Perspective
Rhetoric Written Argument Level 1
Elementary Business Statistics

Spring 2005
Fundamentals of Financial Accounting
Oral Communication
Principles of Microeconomics
Introduction to American and California Government and Politics
Rhetoric Written Argument and Context

Summer 2005
Introduction to Astrology

Fall 2005
Fundamentals of Managerial Accounting
General Biology
General Biology (Laboratory)
World Literature
Introduction to Human Aging
Principles of Information Systems

Spring 2006
Astrobiology
Legal Environment of Business
Business Communication
Introduction to Philosophy and Ethics

Fall 2006
Business Honors Seminar
Intercultural Communication
Introduction to Operations Management
Management and Organizational Behavior
Introduction to Marketing

Spring 2007
Business Honors Seminar
Introduction to Computer Programming
Fundamentals of Finance
Information Systems Analysis
Business Applications Programming
Database Management Systems

Fall 2007
Small Business Consulting
Business Reporting Techniques
Information Systems Analysis and Design
Business Networks and Data Communication
Management of Information Systems
Independent Study, Mu Sigma Consulting

Spring 2008
Women In Modern European History
E-Business and Web Development

Poor Charlie's Almanack

2007-07-24T21:43:00.000-07:00

I try to limit my public book recommendations, but this one I have to share.

I hold back on my public book recommendations because: 1. in entertaining my greedy side, I shy away from sharing these treasures (mine, all mine!), 2. like compliments, its effectiveness decreases as its frequency increases, and 3. who am I to act as your enrichment adviser anyway?

In any case, buy this book and buy it now. After just 279 pages (out of 500), I've managed to handwrite 10 pages of my own notes, A-HA! moments, ideas, quotes, etc. directly from this book. The bibliography alone is worth the price of admission.

And if that doesn't convince you, I'm thinking about buying a second copy. One I can read during the day and another for when I'm sleeping.

UPDATE 7/25: Here are other reviews on Poor Charlie's Almanack.

Entrepreneurs, here's a breath of fresh air for you!

2007-04-13T15:56:00.000-07:00

20 Things Not To Do Before Starting A Business is causing a stir in the blog world.

And obviously, I wouldn't consider the article to be the entrepreneur's Bible. What I do like about the article is its main point: keep it simple, and focus on the fundamentals of your business.

Because when you think about it, businesses were started long before "entrepreneurship" was considered a word in the English language, let alone an academic category in business schools. This makes me wonder what John Pemberton would say if someone told him "You need to study entrepreneurship first before you can start Coca-Cola."

Like me, I'm sure he'd giggle too.

Pictures Are Worth A Thousand Words

2007-04-05T23:37:00.000-07:00

While reading Berkshire's 2006 Annual Shareholder Letter, I found a reference to the United States' foreign investment income and its relationship to our payments on foreign holdings of US securities.

Digging deeper into the issue, I found this graph on the internet. A quick look at the graph and it's easy to see why I'm taking the short position on the American dollar.

Kinda scary...

The United States is beginning to spend more and more of its "income" to pay-off its loans, (which come in the form of bonds owned by foreign countries). And to make things worse, we're also earning less and less on our foreign investments.

What this means is that more and more of our country's paycheck is being used to pay off our foreign debt, instead of being spent in [fill in the blank].

Good things come in increments of 87 minutes

2007-04-03T21:49:00.000-07:00

Every minute will be worth it, I promise. If I break my promise, you can stop reading my blog forever. =)

Warren Buffett Q&A session at University of Florida...

Quote(s) of the Moment

2007-03-29T17:04:00.000-07:00

"It is not enough to be busy; so are the ants. The question is: What are we busy about?" -Henry David Thoreau

"Effort is important, but knowing where to make an effort in your life makes all the difference." -Spam Email

Whichever quote you like more, the same message rings true: it's not how much you do, but what you do that counts!

Thanks to Michael Wade at Execpundit for the spark.

Job Opportunity at Berkshire Hathaway

2007-03-02T10:05:00.000-08:00

Hello Friends,

I hear that Berkshire Hathaway's current Chairman, Warren Buffett, is looking for candidates to take on the CEO and Head Investor roles at Berkshire Hathaway (two separate positions).

He's currently accepting resumes, and is looking for:

▪Young business leaders who can recognize and avoid serious risks
▪Has an impressive management and business pedigree
▪Willing to commute and live in Omaha, Nebraska
▪Likes to drink Cherry Coke and eat hamburgers

Unfortunately, starting salary wasn't disclosed, but mind you that Berkshire's current portfolio value is $63 billion. Without trying to determine the psychic income from working with Warren Buffett, I think the compensation will be competitive.

Click here for a preview of the article.

AHA! Connections

2007-02-09T21:19:00.000-08:00

I love it when I make connections between books. I feel like I’ve made a life-changing discovery whenever it happens. These AHA! moments are like project milestones (shout-out to the PMO Team at Poway); they mark achievement points of my learning and growth process.

My most recent AHA! moment came tonight, between two seemingly unrelated books: Jim Collins’ Built to Last (organizational behavior) and Philip Fisher’s Common Stocks and Uncommon Profits (investing).

If you recall, I made an entry on Built to Last a few weeks back.

In Built to Last, Jim Collins says that a characteristic of a visionary company is that they practice “Genius of the And” (as opposed to the “Tyranny of the Or”). These visionary companies don’t settle for “Or” – they want both, all the time, every time. Visit my previous entry for clarification.

In Common Stocks and Uncommon Profits, Philip Fisher makes a similar point in his first chapter. In Fisher’s book, he says that a general characteristic of great companies is that it:

“…does not let its preoccupation with long-range planning prevent it from exerting constant vigilance in performing the day-to-day tasks of ordinary business outstandingly well.”

In essence, Philip Fisher is saying that companies are also great investments when they practice the “Genius of the And.”

It goes without saying that I’m very excited to gobble up the rest of Philip Fisher’s book.

Nick Graham: Youngest Grocer In America

2007-01-26T20:24:00.001-08:00

Here's a great video about Nick Graham, a 17-year-old entrepreneur in Truman, Minnesota.

I have to admit, I've seen this 2.5 minute clip a dozen times. His story is just so refreshing!

Biggest Change in 2006

2007-01-03T19:11:00.000-08:00

With 2006 three days into the history books, I reflected about the biggest event/change for me in 2006. It didn’t take me much time to realize which change in 2006 had the biggest impact on my life: I gave up watching TV (since April 2006).

Originally, I gave up TV (that makes TV sound like a drug or a bad habit, doesn’t it?) to save some money ($50 per month). As a college student with limited funds, I wanted to get “lean and mean” with my financial spending.

Aside from saving me $50 per month, however, giving up TV had numerous positive impacts on my life. Here’s a quick list of some of the observations I’ve made since giving up TV:

1. Watching people watch TV, now that's an interesting experience!
When you haven't watched TV in three months, it's a bit strange being in a living room with friends watching TV. Everybody's zoned in on the black box, hypnotized to the images running by their eyes. I, on the other hand, have no difficulty taking my attention away from the TV to read a book.

With a few exceptions (sports, in particular), TV is a very passive form of entertainment. The viewers have limited to no interaction with the TV, and often times, the viewers don't interact with the friends their watching the TV with. And I thought TV was supposed to bring people together!

2. I'm discovering other forms of entertainment.
Before I stopped watching TV, it was my schedule "filler." I would watch it after lunch, after dinner, and during the weekends. With TV out of the equation, however, I am more active (physically and mentally) - I go out more, read more, etc.

A few examples: Instead of watching a baseball game on TV, I am at PETCO Park watching the Giants play the Padres. Instead of watching TV after lunch, I go to the beach and surf for a few hours. Instead of watching TV, I'm reading books, focusing on school work, and being more productive.

3. My mind is clearer and I'm more focused.
My thoughts are more organized, I fall asleep faster and wake up earlier, and I'm sharper throughout the day.

In conclusion...
In general, not watching TV has made me more of the person I want to become. I tell my friends they should try it, and they gasp at the idea of not watching TV (oh no!). Personally, I haven't met anyone who decided to stop watching TV, and regrets it.

Click here for a more in-depth look at another blogger's experience.

Genius of the “And”; Tyranny of the “Or”

2006-12-17T15:06:00.000-08:00

Forget about the word “Or,” and begin embracing the word “And.”

“Or” forces you to think in ultimatums, it pushes you to think that things “must be either A OR B.” For example:

Go to work or get an education
Short-term profit or make a long-term investment
Low cost or high quality

Anybody can choose one or the other, but it takes a determined, motivated, and rare kind of person to say that they will do both. So, instead of choosing “Or,” go with “And”:

I will have a job and get an education
My company will increase its short-term profits and have long-term investments
My product will be low cost and have high quality

Now, with the mentality of “And,” you’ve got a challenge (and thus an opportunity) waiting to be tackled. You aren’t faced with just choosing one or the other; now you have to be creative, hard working, and motivated to accomplish both.

Note, however, that doing both doesn’t imply balance. Doing both doesn’t mean splitting your effort 50/50. No, no, no…

Embracing “And” means you do both at the same time, all the time, with all the effort you’ve got.

This is a reflection from a book I read: Jim Collins’ Built to Last.

Update on Miguel's Edumacation

2006-12-08T11:51:00.000-08:00

Before:
Business Administration: Information Decision Systems

After:
Business Administration: Information Decision Systems
Minor in Computer Science

With the support and encouragement from family and close friends, what was just an idea over Thanksgiving dinner is now a reality: that's right folks, I've declared a minor in computer science - and I couldn't be more excited!

Why Did I Do It?
In one word: Them.

I declared a minor in computer science for the people in my future that I will work side-to-side with: the Vice President, the program manager, the business analyst, the developer, and most especially the customer who will depend on my expertise and knowledge. My instincts tell me that with this decision, I will be able to better serve my co-workers and customers in the future.

Thanks to my family and close friends for your endless support!

Warren Buffett: A College Student's Perspective

2006-11-30T01:04:00.000-08:00

Free advice is worth the price – especially when it comes from Warren Buffett.

In this post from Small Business 2.0 writer Brian Halligan, Warren Buffett covers many topics including: investments, business ethics, friendship, decision making and the “ovarian lottery.”

Out of the many topics Brian Halligan highlights, I found three that related most closely to me, a college student in the baby stage of his career.

1. Forget About Super Man and Spider Man.
Warren Buffett and Bill Gates both agreed that if they could have any super-hero power, it would be the ability to be the fastest reader in the world. Personally, I read books like a maniac, subscribe to a dozen business-related blogs and websites, and have a subscription to The Wall Street Journal.

2. Success via lemonade stand.
Buffett read a study that researched the most closely-correlated value to success. What was that value? It’s the inverse value of the age that you started your first business (lemonade stand, newspaper route, lawn mowing, etc.) I started my first "business" when I was 16 years old, when I bought and resold used surfboards.

3. Don’t be superficial.
Make decisions based on how you feel about the decision and not what others say is the “best decision.” In short, listen to your heart.

My questions to you, College Student:
1. When was the last time you picked up a book and absorbed its material?
2. Do you have a business idea in mind? Go make it happen!
3. Buffett advises that you reverse-engineer your life to what you want to be when you're 70 years old. Then map out your steps and strategy of getting there!

And what's this? A bonus!

Bonus: Don’t multi-task.
Warren Buffett admitted in the interview that his most important skill was the ability to focus. Sorry Generation-Y, but Warren Buffett says that you close your AIM windows, turn off your television, and lower the volume on your iTunes player. Focus takes precedence over multi-tasking.

A Castle Is Only As Good As Its Foundation

2006-11-23T20:47:00.000-08:00

This one is simple: to thank my family for always keeping my feet planted. Because as we all know, your castle is only as good as the foundation that holds it up.

With all the things going on (read the blog title for a quick list), I felt a deep sense of relief taking a red-eye flight with a final destination of home. With my laptop bag, portfolio and recent “must read book” in hand, I stepped into the 747 cabin with a late night adrenaline rush from the excitement of going home.

Eighty minutes later, I bookmark my book to the cue of “Ladies and Gentlemen, welcome to San Jose Mineta Airport. Air temperature is 53 degrees.”

I make my way down a few escalators, get my baggage from carousel B, then head to the arriving flights sidewalk. In minutes, my Mom pulls up in her black 1999 Volkswagen Passat – with two coton de tulears jumping in the back seat.

I step into the sedan’s warm, leather cabin. My mom gives me a quick kiss, smiles and says, “You’ve lost some weight. Let’s get some In & Out.”

Number 1, protein style with a Diet Coke please…

Blog from Small Business 2.0: Buffett and Gates

2006-11-01T00:11:00.000-08:00

From Small Business 2.0.

"Learning from the Legends: Quick Insight from Buffett and Gates"

The blog, written by Brian Halligan, gives highlights from an interview with Bill Gates and Warren Buffet during a University of Nebraska speaking event. These two men have contributed much to the world; their insight and wisdom - as seen in the blog - shows why they're so successful.

Some of the subjects they covered are: ethics, decision-making, reading, "the most important skill," life, career advice and a suggested way of predicting success.

Enjoy the article!

Entrepreneurs: Are We So Special?

2006-10-29T14:33:00.000-08:00

I'm sitting on a folding table at my usual Sunday afternoon chore: the laundromat. My legs are crossed, and in my arms is my most recent literary adventure: "The Five Temptations of a CEO" by Patrick Lencioni. Today's laundromat crowd is made of single parents, college couples, bachelors and the laundry guy.

There's plenty of movement in the laundromat: taking clothes out of the dryer, folding clothes, exchanging bills for quarters, pouring detergent into the washing machine, etc.

In between chapters, I make observations of my surrounding. I observe 3 comparisons between entrepreneurs and the laundromat crowd:

1. The laundromat crowd works for money to operate the laundry machines. The entrepreneurial crowd, however, think about making a machine that will receive the money. This, I notice, is the biggest - and most important - difference between the laundromat crowd and the entrepreneurial crowd. While the laundromat crowd is working to make money to do their laundry on Sunday afternoon, the laundromat owner is thinking about the next service or product that his customers will pay him for.

2. The laundromat crowd has a quick trigger for a pessimistic attitude; they often give up at the first sign of a challenge. The entrepreneurial crowd, however, has a very positive attitude - often exhibiting an excitement for the challenges and the opportunities waiting to be tackled. Across from me, a lady puts a quarter in a dryer. Surprisingly, the dryer doesn't nudge into life. Quickly, she sprouts into anger and demands assistance from the laundry guy. The laundry guy slowly approaches the dryer, assesses the situation, and after a few seconds the dryer spins into life. "The door wasn't closed," he says to the lady.

3. The laundromat crowd and the entrepreneurial crowd are motivated by different factors. Entrepreneurs, at least the good ones, are motivated by the opportunity to help and solve other people's problems - they are natural givers, not takers. Entrepreneurs know that their success is based on the foundation of meeting other people's needs and wants. They realize that success, at least in the long-term, can only be achieved by providing to others, not by taking from others. To put it simply: while the laundromat crowd is fighting for their own self-interests, the entrepreneurial crowd is thinking of a way to quench other people's wants and needs.

"Entrepreneurs are not as special as we think," I thought. Like others, entrepreneurs are also fed up with being bossed around, with working from 9-5, and with trading their freedom for that paycheck.

So if entrepreneurs are just average people, why are we all so intrigued about their entrepreneurial spirit? Because they remind us of what we want and should all become. Entrepreneurs are heroes to the average person because they have an uncanny ability to turn bad situations and turn it into positive ones. We envy their positivity and their unwillingness to fit the mold.

All it takes is an attitude adjustment.

My dryer buzzes and it's time to fold my clothes.

The End of the Internet

2006-10-24T23:10:00.000-07:00

I went on my own Christopher Columbus voyage tonight: to discover the End of the Internet! All it took was a Google Reader account and a ride on the ship of Blind Luck!

Do I have to say it? Go ahead: reap this dicovery's rewards...