WELCOME TO THE OFFICIAL RICHARD E GERSTEIN JUSTICE BUILDING BLOG. THIS BLOG IS DEDICATED TO JUSTICE BUILDING RUMOR, HUMOR, AND A DISCUSSION ABOUT AND BETWEEN THE JUDGES, LAWYERS AND THE DEDICATED SUPPORT STAFF, CLERKS, COURT REPORTERS, AND CORRECTIONAL OFFICERS WHO LABOR IN THE WORLD OF MIAMI'S CRIMINAL JUSTICE. THIS BLOG HAS BEEN CALLED "THE DEFINITIVE BLOG ON MIAMI CRIMINAL LAW" BY THE NY TIMES, THE WASHINGTON POST, THE POPE, AND DONALD TRUMP WHO ALSO ONCE SAID IT WAS "REALLY GREAT". POST YOUR COMMENTS, OR SEND RUMPOLE A PRIVATE EMAIL AT HOWARDROARK21@GMAIL.COM

Friday, August 08, 2014

WE'RE GOING.....

UPDATE: FANTASY FOOTBALL LEAGUE II
DRAFT SET FOR SUNDAY, AUGUST 24TH, 7:15 PM.
Yes, this is the league that David Ovalle was too scared to join last year. This is the league that saw hot shot federal trial lawyers humbled by injured running backs and gimpy wide receivers. This is the league that even confounded yours truly, despite our genius drafting of the best player in the league-Peyton Manning. 

Last year we had twelve players, two divisions of six. We can expand to 15 (three divisions of five) 18 (three divisions of six) or twenty (four divisions of five). If you want in, and are not "ascared" like some Charger loving journalists, shoot us an email and in twenty five words or less tell us why DOM can't draft as well as he can try a case. 



TO HELL IN A HANDBASKET


We returned from a long weekend/short trip-  this past Monday        ( client meetings in NYC and Boston, weekend at the Cape) and despite having to immediately plunge into a trial with evidentiary motions on Monday due to the complete stupidity and ignorance  of a black robe wearing, gavel banging, never made a dollar in private practice and never tried a case so-I-don’t-understand-why-you-are-upset-at-me-setting-this-trial-the day-you-return-from-vacation….,  here’s what we saw whilst perusing the headlines:

More death and destruction in Gaza, with the US unable to influence either party to agree to a ceasefire until they were ready;

Russian troops massing on the Ukraine boarder; Russia/Putin impervious to US-European sanctions, the US unable to influence Putin and Russia;

Ebola Virus breaking out in Africa; the US and World Health Organization seemingly unable to restrain the virus despite a burgeoning effort of money and expert doctors being thrown at the problem.

The Fed is going to raise interest rates, probably in January, but study closely the guidance they give at the September FMOC.

Last night President Obama authorized the use of airstrikes in an Iraq, which is a nation now in name only. After 13 years of war and US blood and treasury, we end up with a fractured country more divided than ever between Sunni and Shiite Muslims. And all the President’s officers and all the President’s F-22 strikes won’t put Humpty Dumpty back together again.

The stock market bull is running hard, but shows disconcerting signs of wheezing and weakening at uncontrollable events like Russia-Ukraine-Gaza- Africa.

It’s a brand new world folks, and it is seemingly teetering on the brink of disaster everywhere you look.

So Rumpole advises,

1) Buy land in the interior of the United States. Wyoming, Montana, Tennessee, Oklahoma, Western North Carolina, Wisconsin, Michigan. And make sure that land has….water. Lots of fresh water. Just ask the people in California about that.

2) If you’re in stocks, go to cash (sell into this "rising market", don't panic sell).  If you want to play the market buy the SQQQ ‘s and short the Nasdaq.

3) Buy gold. Buy this stock: GLD which is a Gold ETF.  Short Groupon (Coup), or sell the calls and buy the puts, which we have done from August through November.

This market is headed for a correction folks, and the more it staggers in August and September, the more an October correction (or worse) looks highly likely.
(As we're writing this, CNBC just reported that McDonalds missed it's number big time. The stock is down.)

And please, do your homework and do NOT invest on our (expert) word alone.

Sit tight and hope for the best and prepare for the worst. The US economy is improving, but slowly and fitfully, and there are a lot of underlying significant issues that could plunge us quickly back into a recession and a rough bear market.

Hang tight. See You In Court. 

20 comments:

Old Gold said...

Rump, In Re: your comment to buy gold. Maybe you or one of your astute readers can help me out. I inherited some old gold $5 coins dating back to the early 1900's. When I went to coin/gold dealers earlier this week the offered about 60% of the value of the weight of the gold. Does anyone know of a company that will pay close to what the gold is actually worth? Thanks in advance.

Rumpole said...

Dealers have to pay a discount because they need to mark it up. Open an eBay account. Take some pics. Post it with a minimum bid of 80% of the value. But do your homework. Coins have a value beyond the gold depending upon condition and rarity. What is not known is that most gold and silver coins from the 1800's on are not as rare as the average person thinks they are. Send me an email pic and I can give you a quick eval.

Anonymous said...

As Heinlein predicted, just bad luck I guess.

Anonymous said...

Off topic but please settle this rip roaring argument my wife and I are having - who was the best surgeon general? I say Koop.

Anonymous said...

Oh I forgot. She says it was William Stewart who first stood up to tobacco in the 1960's. This is causing a great problem especially at dinner and a text argument going on three days now.

Rumpole said...

Wow. That's some marriage you have there.

Old Gold said...

Thanks for the help Rump, I looked up the coins on various coin websites. Obviously I dont deal in precious metals, it just seemed weird that gold could be priced at a certain level and then they offer way less for it. I wasn't sure if they thought I was desperate to sell or not. I was just curious.

Back to the original question, For example: why do they say gold is selling for $1,3000 per ounce then offer you way less when you bring it to them. ow come you cant sell it at near full price anywhere?

Based on your post I should hold on to the gold for a few months.

Anonymous said...

Anyone following the judge Slaton mess in Key West?

It is reported that the chief judge down there had to force him off the bench for being high on drugs.

What is this world coming to?

Rumpole said...

Old gold. If you go to buy gold from a dealer would you pay more than 1300:oz? No. So the only way the dealer makes money is to buy below 1300 and sell for the spot price. You can get your spot price by eliminating the dealer and selling directly to a buyer over eBay or the like.

FORMER JUDGE said...

you are scaring me rumple….

i just bought a KEL TEC KSG combat pump shotgun that holds 15 rounds of "00" or my favorite Winchester PDX1 (a huge slug and three "00") just in case ISIS or zombies come to the U.S.A.

it is only a matter of time before we are invaded by aliens (not the little green ones) and we are forced to defend our families and our property.

i bought and am storing all of my survival gear and tons of ammo. build a bunker?

this is scarier than i was when i had my first trial as a new lawyer before Judge Fred Barad and i could not understand a word he said!

Anonymous said...

only a fool will attempt to time equities... unless he does so for a living .. keep calm old timer.

i have been on an amazing run with property. the last years in the grove and the beach have seen huge gains. so has east long island. but i am selling some of it now.

i like passive income. making money while you sleep. just ask the polish prince.

Claude Erskine Browne said...

RE: Gold sales. If selling, also check your local jewelers. They but gold usually and give a decent price vis a vis coin shops

Anonymous said...

That could have been almost any judge sitting at the justice building.

Rumpole said...

If you followed my reccomendation and shorted zynga its time to close out your position as the rest of the world now knows what we saw at the IPO. ITS JUNK.

Anonymous said...

buddy-

since you said to flee the market you took a loss of 1 percent - so it is good you were short one position.

you bet the market like many other men- on emotion and on "gut"

i make money at what i do and along the way i clip assets. i do not gamble.

you do

Rumpole said...

I never said "flee the market " I said get out and specifically advised to sell into strength. I also said there would be an event that would tumble this market between now and October. This market is one bad breakfast for Putin away from a crash. And here is how I know : there are plenty of good stocks. But I cannot find one that is making money and has good financials and a reasonable PE. That's how I know this market is over valued.

Anonymous said...

A $5 gold coin contains 0.2419 Troy ounces of gold. Multiply that by the spot price of gold that you can find at http://www.kitco.com/market/ and you will have the price of the coin based on its bullion value. Now, you need to research the numismatic value which, in a nob-bullion coin, is usually higher than the bullion value but it all dependes on the number of coins minted, its condition and the rarity of the coin in that condition. Never, ever clean or polish a coin because you will destroy the numismatic value and only leave the metal content (bullion) value.

To calculate the value of junk gold, multiply its weight by its fraction of purity (if the fraction is given in karats, divide the nymber by 24 to get the fraction). To convert grams to Troy ounces, divide by 31.1 (the nymber of grams in a Troy ounce).

An honest jeweler will pay around 87%-90% of spot bullion value for junk gold.

Just another angry black man said...

Last month a minister named Kenneth Johnson was killed during a robbery attempt in Liberty City.
Yesterday a rabbi was killed during a robbery attempt in NMB.
NMB's response: http://georgevallejo.com/?p=129

Do you recall hearing about MDPD or MPD increasing police presence in Liberty City when Rev. Johnson lost his life?

You didn't because it did not happen. When the power structure in this town devalues the value of the lives of its black citizens, don't be surprised if its black citizens de-value the worth of all life.

The death of Rev. Johnson is no more or less tragic than the death of Rabbi Raskin. But you would not conclude that from the reaction from the news media and Jewish community. Ask ourselves if you even bothered to put down your coffee when you read about Rev. Johnson in the paper last month. WHY NOT? The death of Rabbi Raskin while tragic may ultimately serve to save more lives if it makes the power structure provide ALL communities with the law enforcement needed.

Anonymous said...

Only a fool thinks he can BOTH know when to get out and when to get back in CONSISTENTLY. Just live below your means and dollar cost average into a diversified portfolio. Over time this is your best bet.

Anonymous said...

Every now and then the system works. A wise and experienced and successful individual runs for judge not because s/he needs a steady paycheck and a decent retirement.

Best Regards,

Sydney Lawyers