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Chef Jim

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Posts posted by Chef Jim

  1. Got it...I think Penn is a pretty good actor, but I don't love him! :thumbsup:

    You don't like him because you don't think he is a good actor, or you just don't like actors in general?

     

    Actors in general. I'm not sure where it came from. It's either I don't get paying somebody $20mil to play make believe or just memorize lines and recite them. Or it may come from by restaurant days:

     

    Chef Jim (to server chatting up the hostess in the corner of the kitchen): Hey you, are you an actor?

    Server: Yes I am.

    Chef Jim: Good. Then act like a !@#$ing waiter and get this food out of my kitchen before it gets cold!

     

    Probably a combination of each. :thumbsup:

  2. Chef hates everything... :D

     

    No I'm just very passionate about the things that I despise (hate is a very strong word). :P

     

    For instance I love Rush, have for probably close to 35 years but I didn't feel it necessary to mention it here in this thread until you brought up that I hate everything. Sean Penn and his Hollywood brethren? I despise with a passion.

     

    Everyone should have a passion in life. :P

  3. NIMBYism will be a major contributing factor in the downfall of our nation...

     

    Why do you think the oil companies aren't drilling on all the land they presently have leased?

     

    Even when approved, where are we going to build the Nuke plants? We're looking at YEARS of litigation before the first shovel of dirt is moved.

     

    Come on, who would not like the worlds biggest tribute to the female anatomy in their backyard.

     

    Is it me or is it cold by the beach today?

  4. Talk to any farmer or small business owner about how fast "meager" comes into play when their land/company ownership is considered part of the estate. There are thousands upon thousands of small firms and farms worth more than the exclusion threshold.

     

    And that will be why life insurance is go big in rural areas.

  5. You probably don't understand it because you don't have children. Not only did my wife make and freeze our son's baby food (pureed veggies, etc.), but now it's filled with things like Uncrustables* (frozen PBJ sammiches) bulk corn dogs and such, not to mention having a place to store things like soup, stock, pasta sauces...all of which we make in large batches. Then throw in some cuts of meat when you get a good deal (gotta use the Food Saver to store them properly), or probably one of my favorite uses: turkeys. During November the grocery stores are all but giving them away. We'll rotisserie at least three or four turkeys a year.

     

    But again, if you don't have children, it's probably a worthless device.

     

    *Editor's note: I can hear the Stuckincincy's now with their "Jeez, how hard is it to make a PBJ? In the old days, you were HAPPY to make a PBJ!" Let me say that Uncrustables are probably one of the best frozen food inventions ever.

     

    Ok, that makes some sense. But I just want to let people know that just because it's frozen doesn't mean it can be frozen forever. Reminds me of the good ole days in the kitchen.

     

    Chef: Jim, it's your turn to inventory the freezer.

    Cook Jim: !@#$!

    Chef: What's the matter.

    Cook Jim: If I wanted to stand on ice and freeze my ass off in the middle of April I would have stayed in Buffalo.

     

    :devil:

  6. The death tax should be for multi-billionaires... not people with $20 million in assets. There is a principle in life... it's called working hard so your kids don't have to.

     

    I have a client new who makes +/- $70k per year. Her mother died just a couple of years ago with a couple hundrend thousand in a brokerage acount, couple hundred thousand in a few annuities and two properties worth just over a million total plus a few things here and there. My client ended up having to liquidate over $100k in assets to pay the estate taxes, some of wich she would have preferred to keep. These people were not rich by any stretch of the imagination. Too bad they hadn't met me before mom died. :devil:

  7. The one thing I do not understand(& I am not even talking about Wilson's case), if the father wants to keep the business in the family after he dies, to avoid the estate tax, why can't he just transfer ownership of his company over to his kids before he dies? I know there must be some sort of stipulation or something.

     

    That would avoid the estate tax but they would not get the full step up in cost basis at dad's death. Not a lot you can do about estate taxes except gifting your estate little by little while you're living or purchasing a large life insurance policy to help your heirs pay the tax. But cap gains is something you can control. One of the biggest mistakes people make is putting their children on in joint tenants on their assets. Not the wisest plan for wealth distribution. This is why I've always said Ralph will not sell the team while living.

  8. Chef- There are quite a few people out there who are bearish on gold. Do you think they're wrong? Do you have any holdings in metals or do you stay away from them? Just curious...

     

    http://www.telegraph.co.uk/money/main.jhtm.../bcngold103.xml

     

    Because I don't invest based on headlines or for the short term. Investing in not a get rich quick scheme. I create a well diversified portfolio hold for the long term and rebalance annually.

     

    I do not hold any metals. Long term returns on gold for instance are nothing exciting. I think gold has averaged less than 6% over the last 30 years.

  9. A while back I also took a small position in GLD and DGP as well as real silver, I'm laughing my ass of now, let me know when I should sell. As for you calling the top in silver, well I guess I should call the bottom in the financials, time to start buying. Give me a call on how that works out for ya.

     

    :P

     

    Now you're starting to get it. There are a lot of great financial companies whose prices have been driven way down. I think there are some incredible value plays in financials right now and I'll give you a call in 12 months to let you know how that works out for me. Have fun chasing returns. :lol:

     

    Oh lookie, WF's up 25% today.

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