Value Investing Part 2: Compounding

Warren Buffett said “Risk comes from not knowing what you are doing.”

I say: Agreed. So let’s get to work.

The day you retire, you will have likely just hit the lottery, and everyone is eligible for this prize, almost guaranteed, to be a millionaire. Let me try to explain.

I have commented on the value of compounding interest several times in previous posts. I would like to share one more example of compounding interest in a slightly different manner, one that had shed a little more light on the subject for me.

I wish I could recall the podcast I had been listening to, but I can’t. The name of the speaker is not as important (other than giving credit for his work) as the message itself. He had been speaking about compound investing and how a majority of the money is made over the last few years. Superficially this should be obvious to anyone remotely interested in the subject, but he explained it in a way that made the concept tangible for me.

Image result for eye dropperThe speaker went on to explain: Imagine that you are in the largest stadium that you know of, in the very top nose bleed section, looking down at the field. You can see someone on the 50 yard line holding an eye dropper. This is not an average eye dropper, it has magic water in it. When he places a drop of water into the cup, it will double every minute.

How long do you think it will be before the water reaches your level? Apparently this talk is being given to a live audience and he entertains guesses: Four days, twenty four hours, two weeks, there are a variety of answers. The speaker tells everyone that they are all wrong, it will take fifty three minutes for the water level to rise and overflow the stadium.

As interesting as this is, it is the next question that really makes me think. How long does it take to fill two stadiums? Just sixty seconds more. How long to fill three stadiums? Only 30 more seconds, because in one minute the water will double in volume from two stadiums full to four. In the last thirty seconds, more stadiums were filled than the first fifty three minutes. You may be asking at this point, where is he going with this…..Don’t worry, there is a moral to my story.

I remember sleeping, I mean, sitting through a microbiology lecture in college in a similar topic discussing the exponential growth of bacteria in a Petry dish. Luckily I had a re-awareness of the discussion, just before the whiteboard eraser flew by my head, allowing me to duck. I understand exponential growth, logarithmic values and compounding, but the stadium discussion pulled it all together in a tangible way for me and helped me relate the value of compound and value investing, and comprehend their true benefits.

What do petry dishes, drops of water and flying erasers have anything to do with making money? In the past I have discussed compounding in relation to investing long term. The goal of that post was to put a face on the lifetime investment model and see how someone can reap the rewards with very little work.  What I failed to do, was finish the thought, and add the mental exclamation point!

Let me revisit my thought process here. I discussed the benefit of making investments at a very early age and watching them grow to retirement. I’ll expand on the example I used of investing $200 a month from age 18 to retirement at 59 1/2. Saving this money in a reasonable investment manner averaging 8% interest each year (we all know historically it is likely to be more or less but lets be conservative) will net roughly $675,000 at eligible retirement age. Not bad for a minimal amount of monthly investment during that time frame. My hope is that you would be wisely investing more, but again let be conservative for argument sake.

Now, to add the exclamation point!  What happens to that money if you decide to wait an extra year to retire?  What if you choose to retire at 65?  While we are considering retirement, lets also set up a scenario of full retirement at age 67, what will happen to that money. You do not have to postpone any retirement to enjoy the benefits of this scenario, I only suggest this to keep the math pure.

Age 59: Value of investment = $675,000

Age 60: Value of investment = $730,000

Age 61: Value of investment = $791,000

Age 63: Value of investment = $927,000

Age 65: Value of investment = $1,080,000

Age 67: Value of investment = $1,272,000

Age 70: Value of Investment = $1,611,000

The last seven years of growth, doubled what it took the first 42 years to achieve. There is no other way to do this at these levels, reasonably speaking, unless you are investing young, and compounding.

A few things to think about:

  • This exercise is is based on minimal investments of $200 monthly. Imagine of you were actually putting away $300 a month, $400 a month, better yet, 15% a month to grow proportionally as your salary grows putting even less burden on your financial position.
  • $300 a month looks like this:
    • Age 59: $1,000,000
    • Age 63: $1,391,000
    • Age 65: $1,630,000
    • Age 67: $1,909,000
    • Age 70: $2,416,000 
    • Almost an additional $1,000,000 simply for an extra $100 a month @ age 70.
  • $400 a month looks like this:
    • Age 59: $1,347,000
    • Age 65: $2,173,000
    • Age 70: $3,222,000

These calculations assume that you are not removing any funds through distribution and that you are reinvesting any dividends. Of course when you decide to retire and start living off your investments, the forward projections will decrease slightly.

Now, I am about to really blow your mind. Imagine that you put this money into a Roth IRA. Remember the benefit of a Roth? Think about it, think……keep thinking…….you got it! This money will all be tax free when you decide to withdraw. It is all yours to spend how you see fit, with no more interference from government theft under the guise of taxation.

As I mentioned in the beginning of this post, we all have a chance to retire a millionaire. It is relatively painless over an extended period of time (granted, it will be difficult at in the early years), but it just takes discipline, the willingness to learn, and motivation. It’s never too late to start on your first million dollars, remember this process is a marathon, not a sprint.



Spring Planting: Start Your Own Seeds

It is rare that I buy plants for the garden anymore, in fact I couldn’t tell you the last time I bought a live plant.

Let me take a step back, and correct myself. I can’t tell you the last time I bought a live vegetable plant.

Perennials are a different story however. Every year I add new perennials to the garden. Over the last few years I have focused on fruit trees. Currently, I have 8 apple trees (5 varieties), 4 cherry (2 varieties), and 2 varieties each of peach, plum, chestnut. I’m not sure right now, but I think I may have lost a chestnut and a cherry over the winter, we will see how it goes when I prune everything this spring.

I have also added several berry plants over the last few years including several blueberry, blackberry, raspberry, and a currant for fun. I’m looking forward to adding some strawberries this year as well.

I added 4 grape vines last year, but I am confident I will only have one left as the evil rabbits decimated them last fall and over the winter. My fault though, I di
d not keep up with them or protect them with cages. We will see how this goes, I will add a few more this spring, and pay more attention this time. I also plan to put in a few asparagus crowns, and am really looking forward to reaping the rewards of those, in three years….

Perennials are fantastic, however this post is about annuals, specifically starting them from seed. Seed starting is one of the easiest, and fun, tasks to do in the garden, but just like most things in life, we tend to over complicate the process.

Starting you own vegetable plants from seed can be one of the most fulfilling things you will do and it is as easy as filling a solo cup with starter mix, watering, and sitting it in the sun.

For me seed starting, actually starts in the fall with seed saving. I try to save as much seed as I can, as I grow mostly open pollinated, heirloom vegetables. But honestly, a packet of seeds from the big box store, and some medium to put it in is good enough.

When the weather warms up, nights in the high 40’s, seeds can generally be started outside, but they may take some time to germinate and the growth will be slow. The risk of doing this is a hard frost that will kill most seedlings outside. Besides, one of the major benefits of starting your own plants from seed, is to get a head start on the growing season.

I have and old metal shelving system that I use in my basement for my seed starting. I placed a heat mat down (easy to find them on Amazon), and put a few shop lights above it. These are the cheap big box store shop lights, nothing extravagant here. I did splurge and placed a timer on the lights, set for 18 hours on and 6 hours off, just because I’m lazy. For a few bucks on Amazon, it does make my life easier.

A specific UV growing light can be added (at a significant expense) to replace the shop lights, but I find them unnecessary for simple seed starting, at least the way I do it. I do have a UV light, but I only use this for growing greens and arugula indoors over the winter.

I like to use 72 count cell trays and trays (also found at the big box store) for my containers, and add one to three seeds per isolate. Folded newspaper blocks, or solo cups will do just as well, but they will take up more room. Any organic potting soil or seed starting mix will do just fine, again we don’t want to over complicate this. Seeds will germinate without light or food, but they absolutely need water. It is imperative that your seedlings do not dry out. Be careful not to “flood” them, consistent damp medium is all you need.

Once the “true leaves” start to show, you will need to start feeding your seedlings if you are not using a feeding soil mix. I like to make my own mix with worm castings, crushed egg shells, peat moss or coconut coir and perlite. By making my own mix I am adding organic material (peat-coir), as well as a gentle feeding (castings) for when it is needed. The perlite makes the mix very loose, and easy for the seedlings to grow strong root structures. The egg shells are for long term calcium supplement and this adds a little more organic material in the garden beds.

The egg shells were actually added to my worm castings as a source of material for the worms to help process foods in their gizzard, so it serves a dual purpose. Besides, with 6-12 chickens at any given time, I have lots of eggshells to spare, and is a free source of calcium.

When my plants are a few inches tall, I like to transplant them into larger containers and get them outside as soon as possible into the cold frame. This will harden them off for planting, as well as give them a lot more UV light than I can create with a shop light. If you don’t have a cold frame, or a small greenhouse, consider making them. They are a fantastic addition to really make your plants healthy and shoot up when the weather turns for the good.

An even simpler solution is a piece of clear plastic draped over your trays and supported as to not touch the plants. This is only temporary until you can obtain the cold frame/greenhouse as you will quickly tire of adjusting the plastic with every watering or gust of wind.

There is a good bit of research geared toward placing a over your seedlings to help them grow strong. The theory is the constant movement (mimicking wind) places a little stress on the stalks, causing them to grow thicker, and ultimately healthier. I agree with the research, but I think this is unnecessary for me as I try to get them outside as soon as I can. See what I mean about over complicating things?

When your plants are in your cold frame or greenhouse, it is crucial that you monitor the temperature and moisture. A 65 degree day is just perfect for you and I, but the temperature in a good cold frame or greenhouse can reach well over 80 degrees during this time, killing off young seedlings.

I find that I usually have to water at least daily, and sometimes twice a day for weather over 60 degrees. I placed an inexpensive outdoor remote weather thermometer in my cold frame and set the alarm to go off if it starts to get too hot. When this happens, I simply raise the lid on my cold frame a few inches and let it breathe naturally. This seems like a frivolous expense, as I told myself for many years, but I also fried more plants than I care to mention, simply because I got too busy or neglected to take note of the outside temperatures. The thermometer is a foolproof way to keep yourself in check.

Once the plants have been outside for a week or more, I try to give them a gentle liquid feeding of fish emulsion, seaweed emulsion, and Epsom salt (magnesium) every 7 – 10 days.

In zone 6B, the last frost is generally around the end of April or mid May, but the rule of thumb is not to transplant any sensitive plants into the garden until after Mother’s Day. It might be an old wives tale, but again, I don’t want to think about all the plants I lost because I jumped the gun.

So again, I will say that starting seeds indoors is as easy as buying some organic started mix, placing it in a solo cup (red of course) and starting your seeds in a warm and bright window. There are plenty of things you can do to enhance this without over complicating the process, as I have tried to do over the years. Just keep in mind, these seeds are going to grow no matter what you do to some extent, I just try to keep them reasonable happy until I can get them in the ground.

Don’t get caught up in the minutia of things and find yourself suffering from paralysis by analysis. K.I.S.S. (Keep It Super Simple) it and have fun.

Mahogany and Spalted Maple Jewelry Box

This year for Christmas, I made my wife a mahogany jewelry box. I wanted to try something a little different. I really liked the contrasting colors of the mahogany case and the walnut splines. I found a short piece of tiger/spalted maple at a local sawmill and am really pleased how it turned out.

I made two drawers, the top being half sized and slides along the bottom. The bottom drawer sits on two rails underneath, creating a hidden compartment. Both drawers have mitered corners and walnut splines. These splines really do a nice job holding together an otherwise weak joint.

I struggled on a method to line the insides of the trays, then I recalled using flocking in a high school shop class. Back then the choices were basically green, black, and red. Today there are a variety of colors to choose from, I went with wine (burgundy). This stuff is super easy to use, apply the adhesive like paint, spray on the flocking, and let it dry. One word of caution, don’t skimp when applying the adhesive, you may end up with an area or two that is weak and doesn’t hold the material as well.

I made a very basic spline jig a while ago for my tablesaw and found more uses for it than I thought I would ever have. It’s really easy to use, just make the basic box, determine where you want the splines to go and set the box in the cradle in the corresponding guidelines. It’s not perfect, but close enough for an amateur.

I have used shellac forever in most of my projects as this stuff is so versatile, in fact I can’t name a project that I didn’t finish with shellac, even my Maloof Rocker has a half dozen coats of shellac. Well that is until I discovered General Finishes oil/poly mix. This stuff is fantastic, it wipes on with a cloth so smoothly, and the oil really enhances the wood. I used three coats lightly sanding with 360 between and then a coat of wax. I was concerned that the poly would look like plastic if I applied too many coats, but a topcoat of wax really did the trick.

The one thing I am not happy with are the hinges. I wanted to try these new hinges, and they work great, but were a bear to get lined up and install. I am actually off just a bit and the lid is a little offset, I’ll have to research a better way to install these. Basically I lined everything up, drew an outline and hand routed out the mortise. There really has to be a better way to do this.

I enjoyed making this for my wife, it took about 10 hours to do, but that was mostly trial and error with proportions and such, I didn’t have any plans to go off of. Actually, I just started fooling around with Sketch-up, maybe next time I’ll have something to work with.

I just hope she doesn’t expect me to fill this thing with jewelry now.  Otherwise, I’ll have to research wooden jewelry, you just never know…..

Zone 6B Garden Calendar: February

Before we get started with this months plan, I think we should review my progress as far as the January garden calendar is concerned.

In my last post, I discussed the items on my January checklist. Let’s take a look at what I actually got done:


1. Preparing seed starting equipment

2. Inventory and order seed

3. Turn and monitor compost pile

4. Build new cold frame





Not Completed:

1. Germination testing

2. Oil changes/equipment maintenance

Not too bad I guess. I will take care of the equipment maintenance soon, we should have a seasonably mild weekend coming up, this will likely motivate me to get out and get that done. As far as the germination testing….ehh, I don’t see that happening to be honest.

February falls generally 8-12 weeks before the last major frost in late April for zone 6B.

Some tasks that I generally take care of earlier in February include:

1. Equipment maintenance

2. Preparing indoor seed beds

3. Inventory and consider buying needed suppliers such as liquid fertilizers, pesticides, etc. (All organic of course)

4. If you have an existing coldframe, take a look at it and make sure mother winter wasn’t too hard on it. If you don’t have one, consider building one.

5. Craigslist items. This time of the year is a great opportunity to buy used equipment and supplies via craigslist. All of the snowblower ads start to go away and the gardening stuff becomes available. The only better time for these items is in the fall when people are trying to get rid of them, cheap, so they don’t have to store or deal with them over the winter. If you have any items to sell, consider doing this now.

6. If you do not have a water catchment system, start researching plans that you like online or at the library, and create a system on paper. This is a great time to look for used equipment such as barrels, 300 gallon totes, pipe systems, etc on craigslist or commercially. March is a fantastic time to build and be ready for the April showers.

7. Generally speaking you may be able to consider starting some hardy plants such as lettuces, kale, and collards in cold frames or hoop houses in early February. As mild as it has been this winter, I may consider skipping the coldframe and direct sow in my raised beds. Late February direct sow candidates include peas, beets, spinach, carrots, and herbs.

8. Plants that can be considered for indoor seedling starts during the first or second week of February would include cauliflower, broccoli, cabbage, and kohlrabi. Indoor seedlings to consider during late February include eggplant, peppers, tomatoes, and onion seed.

9. If the ground is workable, consider compost feeding existing perennials such as asparagus, strawberry, grapes, and other berry plants and harvest some horseradish. Check on your garlic that you planted in the fall, if it is a harsh winter make sure the mulch is still intact. If you are having a mild winter like we had this year (numerous 50 – 60 degree days in February) consider pulling back some of the mulch and let the green come through.

10. I also like to review where I planted specific items last year and create a planting plan for this year, to maximize crop rotation.

11. If your compost pile is finished cooking, or close to it, consider prepping your raised beds and letting the rain move the nutrients deep into existing material. The same goes for in ground garden areas, consider plowing under cover crops to give them ample time to breakdown before the late spring/summer planting begins.

12. If you have any unused seeds, prep them for storage for next year or fall planting by sealing them in a mason jar with some powdered milk folded into a paper towel to absorb any remaining moisture and store in a cool dark spot.

13. If you have any fruit trees or plants that require pruning, this is an ideal time to do it. The old adage is to prune during the time of year when you are most miserable outside, this way you will ensure that the plant is dormant as to not stimulate early growth. Considering this mild winter, I’m going to hold off any pruning until early spring as to ward off any early growth stimulation. I have been considering pruning in late winter or early spring regardless, just as the buds start to poke through, it gives me a better idea of growth and where I need to aggressively prune. If you had a mild winter like we had this year, I would be out every week checking my fruit trees for blossoms, not that you can do anything about the early bloom, but at least you may be able to gauge any potential diminished harvests due to early bloom and subsequent frost killing.

That wraps it up for February. Enjoy the last few days of rest over the winter, once March – June hits, we will be crazy busy.



My Tax Bracket is….Think Again.

When I comment that paying taxes is government theft, I am saying this tongue in cheek, sort of. This may be difficult to comprehend, but I believe in paying taxes, as long as they are fair and equitable. The problem is, as it stands today, taxation in this country is horrendous.

I don’t need to go into the details of the inequalities of tax brackets, but I would like to discuss taxation on a slightly different perspective. The first question is, what tax bracket do you fall under? has a nice summary of current and projected federal tax brackets. Keep in mind, this writing has been completed shortly after the Trump election, so any tax reform he plans to implement hasn’t happened yet. Currently there are 7 different tax brackets for households. Depending on how you file, i.e. single, head of household, married filing separately, etc., you will fall under a 10%, 15%, 25%, 28%, 33%, 35%, and 39.6% tax rate.

According to the Tax Foundation 77% of Americans will fall under the 15% tax bracket or lower while the remaining 1/3 of Americans are in the 25% or higher, or so we think. I’ll explain in a minute.

Considering this data, one would expect that this group of 77% would pay the bulk of the income tax in this country, however this is far from true. Family units making over $100,000 a year actually pay almost 80% of the tax base in this country, far from fair but this is a story for another day.

So there you go, the bulk of Americans will pay 15 cents on the dollar in taxes, or do they? What about the “rich” in the 25% category, they only pay 25 cents on the dollar right? Not exactly.
Let’s use a practical example of why I call taxation in this country government theft. Lets assume I am in the 25% bracket, for every dollar I make the government takes 25 cents, the Federal government that is. My state of PA charges a 3.07% state income tax. My local government charges a 1% rate on top of this as well. All in all, the government is now taking 29% of my money every time I get paid. Well I guess, that is a fair rate to pay for our “freedoms.”

Let’s dive a little deeper. I get up in the morning and make breakfast before I go to work in the house that I pay roughly 3.5% in property taxes every year, simply for the right to live here. I put on clothes that cost me 6% sales tax when I bought them.

I get in my truck that the government charges me over $100 a year to drive via yearly vehicle registration (tax). I’m running a little low on fuel, so I stop and pay a 30% gas tax every time I fill up.

I’m on a travel day, so I have to visit various sites associated for my job, so I need to hit the turnpike and pay roughly $10 in turnpike fees to go less than 30 miles.

Everywhere I turn, there is a government official holding a stick up, robbing me of more money in the form of taxation. I stop for lunch and guess what, another 6% sales tax on food. I have never smoked, but if I did, it wouldn’t last long because the government charges $2.60 for every pack.  I don’t drink alcohol either, but I’m sure the government would take a piece of this as well. In fact, in my home state of Pennsylvania, the government OWNS the liquor stores!

I wish I would just hit the lottery and not have to worry about money at all, guess what……playing the lottery generates revenue for the government at a rate of approximately 35 cents on every dollar you spend.

It makes me ill to think about all the taxes I have just paid, all before lunch! After everything is said and done, the government takes about 35 cents on every dollar I make with a 29% tax in the form of federal, state and local taxes, and then I pay the ferryman for just about everything else I do.

God only asks for 10%, so why does the government feel they deserve 35%?

Mark 12:17  “And Jesus answering said unto them, Render to Caesar the things that are Caesar’s, and to God the things that are God’s. And they marveled at him.”

Anvil Restoration Part 2

In part 1 I shared my anvil restoration and a little history regarding anvils as well.

Today, I’ll complete the anvil restoration process with a stand for it. I reviewed multiple anvil stand builds on Youtube and found several that I liked and took some inspiration from them. We’ll see over time how well it works, hopefully it won’t fall apart in a year.

I started with a stack of 2×4 material from the local big box store. It took me a while, but I picked through the pile and pulled out a bunch.


I cut the 2x4’s into roughly 2 foot and 3 foot pieces and stacked them, while alternating every other row. I sunk 3 inch deck screws wherever it seemed reasonable.


After 15 alternating rows and a few pressure treated pieces on the bottom, I finally had it to the right height. Since my anvil is roughly 10 inches tall, when it is placed on top it will be roughly “knuckle height.” The general rule is to keep your anvil top to the height of your knuckles as you stand with your arms to your side for the ideal positioning of stock as you hammer.

I planned ahead (rare move for me) and placed the screws securing the top row around the sides and away from the middle of the stand. This way I could outline the base of the anvil and use my router to remove about a quarter of an inch of material to create a pocket for the anvil to slide into.

I finished off the anvil stand with some strapping material and secured it to the top. I purposefully placed the anvil to one side to expose the horn as well as give me a place to sit my hammer, tongs, etc., in a convenient, easy to get to spot.

Now, I can finally get some use out of my brake drum forge that I just built as well.


Investment Snapshot: Direxion Daily Gold Miners Bull 3X ETF (NUGT)

Simply put, NUGT is a leveraged gold miners ETF. It attempts to seek 300% of the NYSE Arca Gold Miners Index. I may be naive but I am not a fool, although some of you will likely say otherwise considering I am choosing to highlight this ETF for my Investment Snapshot.

In some respect, I would agree with those calling me foolish, but hear me out on this one. It has taken me years to consider a leveraged fund, and it will likely be years before I ever consider another one in the future.

Generally speaking, I do not like leveraged funds at all because of the risk associated with them. Yes, they claim a 3x leverage, however, I know full well that these funds rarely achieve these lofty goals, but some do come close. For the most part leveraged funds leave investors with 300% less in their pocket than when they started.

I invested a small portion of my portfolio (~5%) in NUGT, not for the fundamentals, but because of the momentum of gold, more specifically, the falling dollar. During the last gold run I made a nice profit, but not as much as most other investors. I did not enjoy the 200% – 300% gains as had by some, simply because I realize that gold has been a terrible investment vehicle over time, and I chose to stay out.

Over the last year gold has been a terrific investment, and actually gold miners have done even better. The fundamentals of gold and gold miners are not impressive to say the least, however this is a trade for me, it is not a long term investment by any means.

There are several factors that lead me to believe that gold and gold miners are heading for another sprint, but mostly I am basing this on three things. 1) Gold miners are showing improved earnings 2), the technical’s look strong for another gold run and 3) the dollar is simply too high.


Annual earnings have more than doubled in the gold mining industry over the last few years, and it looks like this trend will continue, at least in the short term. The perfect case in point are my two favorite miners, ABX and MUX. Granted, earnings were pathetic for these companies prior to this but they have really turned things around, with most focusing on debt reduction.


I have always lived by the mantra that fundamentals tell you what company to buy, and the technical analysis will tell you when to buy it. In this case I am willing to make an exception. Other than the earnings growth of gold miners and their focus on debt control, there is really very little to like regarding fundamentals for the value investor.

Most of the miners that I have been tracking over the last year appear to have rebounded from their most recent dip in the industry, likely due to the Trump rally. Although many have not hit their bottoms of last year, they were close. NUGT rebounded off its bottom of February last year and has increased nicely over the last month or so. Looking at a chart of NUGT, there is little denying the strong technical aspects including a nice rebound, along with strong showings in OBV, MACD, RSI, and the fact that it just blew by the 50 dSma.


The USD index spiked to over 102.5 in January ’17 from 92.5 in May of last year. That’s a 10 point upswing in just over 6 months. Generally speaking I wouldn’t get too exceited about this, but this spike is mostly based on rumors and news. The economy is doing slightly better over the last year, but certainly not enough to justify these kinds of movements in the indexes.

The Trump rally was simply the icing on the cake for me, showing that the dollar has nowhere to go but down. Although I am fairly confident our economy will improve over the next 4 years, we are just not there yet, and I can’t justify the growth of the dollar based on this

For this reason, I am going to forget everything I know about gold miners and gold evaluations. The bottom line is the USD index, when it falls, gold will rise. I’m keeping a short leash on this one, and hopefully reap the reward of being patient and alert.

To be clear, NUGT is not a long term investment by any means. This investment should be monitored closely, for me on a daily basis. I have made a small investment in NUGT and it is my opinion over the next month or so, it will prosper. This is a trade with an outlook of weeks, as opposed to months or years. As I write this today, I am already up about 15% for a 2 week investment. As you will see by the monthly averages below, this can fall apart very quickly, it is my objective to catch this at the right moment as this is primed for a nice run.

I will be setting loose stops on this in the beginning, and will tighten them as this moves upward to protect any gains.


December: – 0.39%

November: -48.5%

October: -24.57%

September: +8.09%

August: -88.8%

July: +16.94%

June: +93.91%

May: -40.49%

April: +120.5%

March: -0.76%

February: +121.32%

January: -3.06%

I am not telling anyone to buy this or any stock I discuss in this blog, this is simply a vehicle for me to share my thoughts. Leveraged funds are extremely volatile, and are not suitable for most investors. Do your own homework and invest at your own risk.