[stockstradr]

Five years ago I had no opinion on the efficiency or pay rates of CA government workers vs. private sector.

Then, thanks to introduction from a cousin, my wife and I became part of social circle made up of workers from San Diego and surrounding cities. (State, City, and County workers)

We noticed two categories:

A small minority were college-educated professionals who were UNDERpaid as gov. workers.

The remaining MAJORITY were UNeducated unprofessionals who drifted for years until “striking it rich” by squirming into cushy government jobs. They were way OVERpaid, particularly since such Bottom 20% Performers could hardly even get hired in Private Sector.

Many a weekend evening I shared beers with countless (often drunk) gov workers, who shared their honest assumptions about their gov job:

1) At work they did the Bare Minimum, knowing countless gov reg’s prevented their getting fired (except maybe if they killed a co-worker)…AND they had zero motivation because working hard doesn’t help a gov worker’s career. (Yes, government funding cuts were a risk for job cuts, but that was an unpredictable event so didn’t motivate a better job performance.)

2) To them it was ALL about doing time at the job until they could retire on a fat government pension, often achievable in merely 20 years – and typically paying out remainder-of-life benefits at 60% to 80% of salary! Holy crap; those are my tax dollars paying for THAT.

3) Many worked FOUR days a week MAX but were paid full time.

4) Health benefits were obviously BETTER than in private sector.

5) The second the clock struck their workday closing bell (usually 4:30 PM)…EVERYONE ran for the door. They said by 5 PM their offices were so empty not a mouse was creeping..

6) Those with 10+ years seniority had EIGHT to TWELVE weeks of paid vacation a year. Holy shit, they were ON PAID VACATION one day out of every four work days. No wonder our government moves with the speed of a creeping glacier

Almost every conversation was on how they could facilitate some kind of scam (double jobs, overtime..) to get highest possible salary at retirement, upon which retirement benefits are calculated.

I LAUGH at anyone who claims CA gov workers are as hard working as private sector. I do more work in my typical twelve-hour day than they do in a week.

[stockstradr]

Five years ago I had no opinion on the efficiency or pay rates of CA government workers vs. private sector.

Then, thanks to introduction from a cousin, my wife and I became part of social circle made up of workers from San Diego and surrounding cities. (State, City, and County workers)

We noticed two categories:

A small minority were college-educated professionals who were UNDERpaid as gov. workers.

The remaining MAJORITY were UNeducated unprofessionals who drifted for years until “striking it rich” by squirming into cushy government jobs. They were way OVERpaid, particularly since such Bottom 20% Performers could hardly even get hired in Private Sector.

Many a weekend evening I shared beers with countless (often drunk) gov workers, who shared their honest assumptions about their gov job:

1) At work they did the Bare Minimum, knowing countless gov reg’s prevented their getting fired (except maybe if they killed a co-worker)…AND they had zero motivation because working hard doesn’t help a gov worker’s career. (Yes, government funding cuts were a risk for job cuts, but that was an unpredictable event so didn’t motivate a better job performance.)

2) To them it was ALL about doing time at the job until they could retire on a fat government pension, often achievable in merely 20 years – and typically paying out remainder-of-life benefits at 60% to 80% of salary! Holy crap; those are my tax dollars paying for THAT.

3) Many worked FOUR days a week MAX but were paid full time.

4) Health benefits were obviously BETTER than in private sector.

5) The second the clock struck their workday closing bell (usually 4:30 PM)…EVERYONE ran for the door. They said by 5 PM their offices were so empty not a mouse was creeping..

6) Those with 10+ years seniority had EIGHT to TWELVE weeks of paid vacation a year. Holy shit, they were ON PAID VACATION one day out of every four work days. No wonder our government moves with the speed of a creeping glacier

Almost every conversation was on how they could facilitate some kind of scam (double jobs, overtime..) to get highest possible salary at retirement, upon which retirement benefits are calculated.

I LAUGH at anyone who claims CA gov workers are as hard working as private sector. I do more work in my typical twelve-hour day than they do in a week.

[stockstradr]

Five years ago I had no opinion on the efficiency or pay rates of CA government workers vs. private sector.

Then, thanks to introduction from a cousin, my wife and I became part of social circle made up of workers from San Diego and surrounding cities. (State, City, and County workers)

We noticed two categories:

A small minority were college-educated professionals who were UNDERpaid as gov. workers.

The remaining MAJORITY were UNeducated unprofessionals who drifted for years until “striking it rich” by squirming into cushy government jobs. They were way OVERpaid, particularly since such Bottom 20% Performers could hardly even get hired in Private Sector.

Many a weekend evening I shared beers with countless (often drunk) gov workers, who shared their honest assumptions about their gov job:

1) At work they did the Bare Minimum, knowing countless gov reg’s prevented their getting fired (except maybe if they killed a co-worker)…AND they had zero motivation because working hard doesn’t help a gov worker’s career. (Yes, government funding cuts were a risk for job cuts, but that was an unpredictable event so didn’t motivate a better job performance.)

2) To them it was ALL about doing time at the job until they could retire on a fat government pension, often achievable in merely 20 years – and typically paying out remainder-of-life benefits at 60% to 80% of salary! Holy crap; those are my tax dollars paying for THAT.

3) Many worked FOUR days a week MAX but were paid full time.

4) Health benefits were obviously BETTER than in private sector.

5) The second the clock struck their workday closing bell (usually 4:30 PM)…EVERYONE ran for the door. They said by 5 PM their offices were so empty not a mouse was creeping..

6) Those with 10+ years seniority had EIGHT to TWELVE weeks of paid vacation a year. Holy shit, they were ON PAID VACATION one day out of every four work days. No wonder our government moves with the speed of a creeping glacier

Almost every conversation was on how they could facilitate some kind of scam (double jobs, overtime..) to get highest possible salary at retirement, upon which retirement benefits are calculated.

I LAUGH at anyone who claims CA gov workers are as hard working as private sector. I do more work in my typical twelve-hour day than they do in a week.

[stockstradr]

I took profits this morning when the market opened down over 100 pts. I sold my SDS (ProShares Ultrashort S&P500), which was 70% of portfolio.

I made 17% net on that SDS in three months, which I can’t complain about. I figure it is better to take some profits and not be too greedy.

I’ll be watching the market to take those short positions again when I think this short term “bounce” runs out of steam. I would guess we could see this “bounce” raises the indexes 5%, and we are already up half that percentage on the S&P 500.

[stockstradr]

I took profits this morning when the market opened down over 100 pts. I sold my SDS (ProShares Ultrashort S&P500), which was 70% of portfolio.

I made 17% net on that SDS in three months, which I can’t complain about. I figure it is better to take some profits and not be too greedy.

I’ll be watching the market to take those short positions again when I think this short term “bounce” runs out of steam. I would guess we could see this “bounce” raises the indexes 5%, and we are already up half that percentage on the S&P 500.

[stockstradr]

I took profits this morning when the market opened down over 100 pts. I sold my SDS (ProShares Ultrashort S&P500), which was 70% of portfolio.

I made 17% net on that SDS in three months, which I can’t complain about. I figure it is better to take some profits and not be too greedy.

I’ll be watching the market to take those short positions again when I think this short term “bounce” runs out of steam. I would guess we could see this “bounce” raises the indexes 5%, and we are already up half that percentage on the S&P 500.

[stockstradr]

I took profits this morning when the market opened down over 100 pts. I sold my SDS (ProShares Ultrashort S&P500), which was 70% of portfolio.

I made 17% net on that SDS in three months, which I can’t complain about. I figure it is better to take some profits and not be too greedy.

I’ll be watching the market to take those short positions again when I think this short term “bounce” runs out of steam. I would guess we could see this “bounce” raises the indexes 5%, and we are already up half that percentage on the S&P 500.

[stockstradr]

I took profits this morning when the market opened down over 100 pts. I sold my SDS (ProShares Ultrashort S&P500), which was 70% of portfolio.

I made 17% net on that SDS in three months, which I can’t complain about. I figure it is better to take some profits and not be too greedy.

I’ll be watching the market to take those short positions again when I think this short term “bounce” runs out of steam. I would guess we could see this “bounce” raises the indexes 5%, and we are already up half that percentage on the S&P 500.

[stockstradr]

I lived in several different cities over last 15 years, including Mpls, Chicago, then moved to San Diego in 2003.

We had to move up to San Francisco last year in March for work.

I miss San Diego!

I think it is the greatest place to live, and I’ve traveled and seen lots of cities in the US, Asia, and Europe.

I think San Diego has a certain very special “warmth” meaning family-like warm social culture, a bit of small town feeling still left in the city. I think of it as a great place to raise a family; however, I must admit that assumes AT LEAST a six-figure family income. San Diego is no place to live on less than that.

More than anything I miss waking up to San Diego’s blue-sky 70 degree weather almost every single day! I miss driving over to the beach on a warm winter day and going for a swim or surfing. I miss eating at George’s at the Cove in La Jolla. I miss running the trails in open space canyons.

[stockstradr]

I lived in several different cities over last 15 years, including Mpls, Chicago, then moved to San Diego in 2003.

We had to move up to San Francisco last year in March for work.

I miss San Diego!

I think it is the greatest place to live, and I’ve traveled and seen lots of cities in the US, Asia, and Europe.

I think San Diego has a certain very special “warmth” meaning family-like warm social culture, a bit of small town feeling still left in the city. I think of it as a great place to raise a family; however, I must admit that assumes AT LEAST a six-figure family income. San Diego is no place to live on less than that.

More than anything I miss waking up to San Diego’s blue-sky 70 degree weather almost every single day! I miss driving over to the beach on a warm winter day and going for a swim or surfing. I miss eating at George’s at the Cove in La Jolla. I miss running the trails in open space canyons.

[stockstradr]

I lived in several different cities over last 15 years, including Mpls, Chicago, then moved to San Diego in 2003.

We had to move up to San Francisco last year in March for work.

I miss San Diego!

I think it is the greatest place to live, and I’ve traveled and seen lots of cities in the US, Asia, and Europe.

I think San Diego has a certain very special “warmth” meaning family-like warm social culture, a bit of small town feeling still left in the city. I think of it as a great place to raise a family; however, I must admit that assumes AT LEAST a six-figure family income. San Diego is no place to live on less than that.

More than anything I miss waking up to San Diego’s blue-sky 70 degree weather almost every single day! I miss driving over to the beach on a warm winter day and going for a swim or surfing. I miss eating at George’s at the Cove in La Jolla. I miss running the trails in open space canyons.

[stockstradr]

I lived in several different cities over last 15 years, including Mpls, Chicago, then moved to San Diego in 2003.

We had to move up to San Francisco last year in March for work.

I miss San Diego!

I think it is the greatest place to live, and I’ve traveled and seen lots of cities in the US, Asia, and Europe.

I think San Diego has a certain very special “warmth” meaning family-like warm social culture, a bit of small town feeling still left in the city. I think of it as a great place to raise a family; however, I must admit that assumes AT LEAST a six-figure family income. San Diego is no place to live on less than that.

More than anything I miss waking up to San Diego’s blue-sky 70 degree weather almost every single day! I miss driving over to the beach on a warm winter day and going for a swim or surfing. I miss eating at George’s at the Cove in La Jolla. I miss running the trails in open space canyons.

[stockstradr]

I lived in several different cities over last 15 years, including Mpls, Chicago, then moved to San Diego in 2003.

We had to move up to San Francisco last year in March for work.

I miss San Diego!

I think it is the greatest place to live, and I’ve traveled and seen lots of cities in the US, Asia, and Europe.

I think San Diego has a certain very special “warmth” meaning family-like warm social culture, a bit of small town feeling still left in the city. I think of it as a great place to raise a family; however, I must admit that assumes AT LEAST a six-figure family income. San Diego is no place to live on less than that.

More than anything I miss waking up to San Diego’s blue-sky 70 degree weather almost every single day! I miss driving over to the beach on a warm winter day and going for a swim or surfing. I miss eating at George’s at the Cove in La Jolla. I miss running the trails in open space canyons.

[stockstradr]

Sorry, I didn’t mean to imply that S&P 500 index is the only index worth shorting. For example, I’ve certainly noticed the NASDAQ is taking more of a beating than the S&P 500.

Do feel free to look ProShares’ short ETF’s that cover a wide range of indexes beyond the S&P500. Also do look beyond ProShares, as there are certainly other financial instruments to short this market. Post what you find so I can learn also.

However, choose such short ETF’s with caution and full knowledge of what you are buying. For example, when you buy a 2X leveraged market inverse ETF like “SDS” you are buying a very risky item, essentially you are buying a basket of short and OPTION positions – which is how they achieve the 2X leverage. If the market starts rising fast, of course SDS will fall TWICE as fast in response, which can quickly destroy a portfolio if you’re heavily weighted in SDS.

Also, if you are buying inverse ETF’s after the indexes have lost 10% in matter of ten days, you had better expect possible market bargain hunters may come in any day now and dominate the market for a short period (pushing the indexes up say 5%). You might buy today and find two weeks later the bargain hunters moved the markets up 5%, taking your SDS position DOWN 10% which will scare you. Then three months later you might find the markets are say 10% LOWER than they are today, putting that same SDS position UP 20% from today. I am just saying be ready to handle some rough water if you are buying inverse ETF’s.

Having said that, I’m stunned the markets are falling today. I think anyone would have expected an UP day after so many down days.

[stockstradr]

Sorry, I didn’t mean to imply that S&P 500 index is the only index worth shorting. For example, I’ve certainly noticed the NASDAQ is taking more of a beating than the S&P 500.

Do feel free to look ProShares’ short ETF’s that cover a wide range of indexes beyond the S&P500. Also do look beyond ProShares, as there are certainly other financial instruments to short this market. Post what you find so I can learn also.

However, choose such short ETF’s with caution and full knowledge of what you are buying. For example, when you buy a 2X leveraged market inverse ETF like “SDS” you are buying a very risky item, essentially you are buying a basket of short and OPTION positions – which is how they achieve the 2X leverage. If the market starts rising fast, of course SDS will fall TWICE as fast in response, which can quickly destroy a portfolio if you’re heavily weighted in SDS.

Also, if you are buying inverse ETF’s after the indexes have lost 10% in matter of ten days, you had better expect possible market bargain hunters may come in any day now and dominate the market for a short period (pushing the indexes up say 5%). You might buy today and find two weeks later the bargain hunters moved the markets up 5%, taking your SDS position DOWN 10% which will scare you. Then three months later you might find the markets are say 10% LOWER than they are today, putting that same SDS position UP 20% from today. I am just saying be ready to handle some rough water if you are buying inverse ETF’s.

Having said that, I’m stunned the markets are falling today. I think anyone would have expected an UP day after so many down days.

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