Jet Watching

On my way out the door to Cape Canaveral on Florida's east coast--home to Kennedy Space Center. The Blue Angels are performing today. I've seen the Air Force's Thunder Birds, but never the Blue Angels, and the weather is absolutely perfect today. For those of you who don't know, I love airplanes and aeronautics, so today is going to be a real treat for me . . . assuming my ride ever gets here. Tardiness is rude and one of my biggest pet peeves.

In other news, I am excited that my friend Eliza is visiting from New York City this weekend, and I hope that she and I are able to get together tomorrow.

As for the market, I bought Goldman Sachs yesterday at $76.50. That's $38.50 cheaper than the exercise price of Warren Buffett's $5 billion worth of warrants on the company. If GS trades back up to the $115 level, my return will be in the range of 50%. That means I got a much better deal than good 'ol Warren, even if he does get a 10% dividend.

I am still short put options on RIO, GE, EWZ, and KMP. I could have covered all of those at about $10 per contract earlier in the week, but frankly, I would just as soon buy the stock if the options are exercised against me as take profits soon, because this is the perfect time to cherry pick a long-term portfolio. In other words, I will end with a 100% return on the options I sold, or I will end up owning the stocks, which might actually be preferable.

Keep your eye on BNI. I really like the rails here and this stock is a bargain at $80 or better for the long-term.

Have a great Saturday!