Run for the boats…..
Hanging out on a cold, snowy night here in West Virginia. I am so fortunate to have a warm home, two great sleeping kids, two cool dogs, a neat cat and a wife who married way below her ability. This weekend a Captain friend from FedEx had a weekend layover in Huntington. I went to the hotel, picked him up, dragged him to Church forced him to eat some grilled pork chops and returned him to his hotel later in the afternoon. By the way he proved my theory. Once he met my wife, he realized that I am a loser and she is the star of the family. The glue that holds everything together and the driving force behind the household.
When I was hired at FedEx, I was told that there are three rules for a happy life at FedEx. The first is to fly what you want to fly. This included the type of airplane and the trips you like. If you have to work fifteen days a month, it might as well be doing something you enjoy.
The second is to live where your wife wants to live. Your wife will be solo for fifteen days a month. She gets the right to have a house that she likes, live in a community that meets her needs and offers her support. Many pilots ignore this rule at their peril. It seems their story is always the same. Upon returning from a fifteen day trip they find the house is for sale. Their toys and clothes smoldering in the front yard, there are ten new maxed out credit card statements, an empty savings and checking accounts, and a certified letter from a lawyer demanding half now and half later. It is cheaper to keep them when they are happy.
The third and final rule is NEVER, EVER, EVER, TAKE FINANICAL ADVICE FROM A PILOT! Yes I yelled and yes I mean it. Don’t do it, never listen.
I got to talk for a while on Monday with my buddy, Paul S. He was my flight engineer for the first rotation to Iraq. One of the smartest people I have ever met, we had a great conversation about the economy, investing, and money. I will not get into his background, training or anything else in this post. It is late and I am tired. I am going to start an irregular series about our exploits in Iraq; I know you guys will love him. Just know that he is wicked smart, highly observant and a great sense of human behavior. He had some financial advice for me. I am passing it on to you.
He made a very impressive case to get out of the stock market. Today he sent me a link to one of the websites he follows. http://www.zerohedge.com/news/2013-03-05/last-time-dow-was-here
If you click on it, you will find a very simple, straight forward list of market indicators that illustrate the economy and where it stands today compared to 2007. I was a dummy then, I rode the market all the way down and I have ridden it all the way back up to this point. Since then, I found a guy (not Paul) that offers financial guidance and I subscribe to his site. He told his people to get out of the market in 2007. Today he said that it is still okay to be invested but he is very cautious about the near term (weeks) future. Not trying to be Debbie Downer, just saying it like it is.
On April 10, 1912 the Titanic left port with 2,224 pax and crew. We all know how that trip ended. If you are like me and are wondering how anyone could survive the sinking of the ship, Paul explained it to me. “They got on the stupid lifeboats.” Everyone else waited to see if the ship was really going to sink or if it would fix itself.
If you are looking for an indicator of the decline of the market, watch for Italy to pull out of the Euro. I have no idea why Paul said that, even though he spent ten minutes explaining it to me. But, that will be the domino that will start the decline. I plan on having my retirement funds in cash money in the next couple of days. I am going to get into a life boat. I highly encourage everyone to call your investment people and develop a plan that is better than hoping the Titanic fixes itself.
I am off to bed, long five nights of work has turned me into a vegetable. I may be rowing in the morning.
Until then, keep on rocking!