Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we’ve got 24 hours each. -Christopher Rice
It feels like it was just yesterday when the Great Recession hit. The stock market was crashing more than a 10-year-old computer’s hard drive. Folks were in a panic. I even overheard someone saying to a friend that she lost 50 percent of their portfolio! Yikes! I was aghast. In the illustrious words of Velma from Scooby Doo, “Jinkies!”
In speaking with a financial aid officer, they stated while working at a university in DC that parents and students were flooding his office stating they had just lost their job and it was one after the other. It was a revolving door of people just coming to his door and saying they had been give the pink slip. Layoffs were everywhere you turned.
During 2008-2009, you could not turn on the news without hearing that unemployment levels were on the rise the likes of which they had never seen. Food banks, free pantries, churches, and non-profits were flooded with requests for help. The need was so great that some soup kitchens and church pantries were running of of food within days.
After the dust settled, things started to look up. We had hit rock bottom. Now it was time for things to go back up. The bear market went into hibernation and the bull market came out in full force. The market was seeing the red cape and came barreling after it. Stock prices were on the rise. No one could have foresaw what was on the horizon, but for those with cash it was a golden opportunity to invest.
Some experts seem as if they have a crystal ball. People like Warren Buffet, the world’s greatest investor, sits on tons of cash. As of this writing, Buffet’s Berkshire Hathaway is sitting on a record $100 billion in cash, as he feels stocks are just too high to buy. Buffet’s partner, Charlie Munger, believes in being patient and getting a bargain price on stocks. How could he possibly know this will happen? According to Munger, if you are patient, you will see that 2-3 times every 90 to 100 years the market crashes and if you are prepared, you can capitalize on that.
According to Investopdia contributor James Chen:
“The longest-running bull market in history celebrated its 10-year anniversary on Sat., March 9, 2019. It all started from the post-crisis low of March 9, 2009. The S&P 500’s (SPX) closing price on that fateful day in early 2009 was precisely 676.53. As of the market close on Wed., Oct. 9, 2019, the S&P 500 settled at 2,919.40. That represents around a 330% rise in a 10-year period. Not bad for a large-cap stock index.”
If you read my post Stock Splits and Misfits, then you know how right Mr. Munger is indeed. I have actually purchased B class shares (NYSE:BRK.B) of Berkshire. I decided to buy some shares to celebrate my birthday years back. After the stock split, not only did the price drop, but I also owned more shares. I went from owning 5 shares to 35 overnight! No matter what the market cycle, I invest. I do so for the long term. I am not a fair-weather investor. And neither should you be.
Everything I have ever witnessed anyone ever have came for years of dedication, sacrifice, and hard work. If you want to know something about anything, then merely pick a book on the subject. Want a woman’s perspective on life in the 1800’s, then read Jane Austen’s Sense and Sensibility. If you want to be more knowledgeable about the world around you, might I suggest the reading list I published in my post Money Advice From Gossip Girl. But if you want to know more about investing, I say read the Berkshire Hathaway letter to shareholders that is published annually on their website.
Whatever it is, if you want something, then go after it with zeal. If you want something, make a plan and then put action behind your words. I knew that I wanted $100,000 in the stock market. I worked toward investing a minimum of 15 percent into my stock portfolio. Those things took time to do. At one point, I decided to move $26,000 from other index funds into just one: Vanguard’s 500 index fund. I wanted to have $100,000 working for me in just one fund as opposed to several different ones. Once I did that, then it was time to make sure my asset allocation was spread in different sectors that way if one sector tanked, the others ones would keep me afloat. So far, so good.
Once you start getting interested in finances, it is inevitable that you will eventually start researching individual stocks.
All the financial pundits and mathematical experts will tell you not to invest in individual stocks. I get it. It’s the age old active versus passive investing argument.
If you buy one stock and it goes under, you have lost all your money in that stock.
However, if you buy a passively managed index fund, then if one company fails, it is replaced by another and your money is still out there working for you.
Although most of my stock portfolio is invested in index funds like the VFINX, I too own single stocks.
It’s the thrill of the chase that gets be going after these companies. I love researching companies. Some of these businesses have more drama behind the scenes and among the management than Gossip Girl!
So sit back and relax while I bring you some stock gossip. You can stop flipping through that latest Cosmo or Barron’s article for just one second, put down that New York Times crossword puzzle, pause that rerun of Billions, book mark your spot in The Wall Street Journal, while Greenbacks Magnet presents to you Stock Splits and Misfits.
Cause you know, everyone just loves juicy gossip. XOXO 💋
WHAT HAPPENS WHEN YOU DECIDE TO GO ROGUE
Just between you and me, I am especially fond of these two stock holdings. I will let you in on which two stocks I enjoy individually owning: Apple and Berkshire Hathaway. The year was 2013. I wanted to have a little fun and invest some money. Therefore, I decided to buy shares of Apple and Berkshire.
For those who may not know, Berkshire Hathaway is the most expensive stock in the world priced at 321,600 as of 01:56 EDT PM 07/02/2019. For some added perspective on this stock, in 2011 it was priced for the low, low cost of $115,750; therefore, this one stock has almost tripled in price. That is incredible!
Berkshire Hathaway (NYSE:BRK.A) is the holding company of famed investor, Warren Buffett. Notable companies under the Berkshire umbrella include Geico Auto Insurance, Helzberg Diamonds and The Pampered Chef. Buffett, long a critic of short-term trading, has kept the A shares at a high valuation in order to decrease the volatility that comes from short-term trading.
Unless you have over $300,000 lying around in your personal bank vault, then you will have to stick with buying the B shares of this stock.
In January 2010, Berkshire’s B shares (NYSE:BRK.B) underwent a 50 to 1 stock split, bringing its price down from around $3,476 to about $69.50 per share. That is a huge discount! To get a piece of the Buffet pie, I will gladly pay this price. Unfortunately, I bought when prices were higher; I paid about $75-$100 bucks a share. However, I still came out ahead as now the stock is going for $213 a share. Not bad. That’s a pretty good haul for just pressing the buy button.
A stock split or stock divide increases the number of shares in a company. A stock split is an issue of new shares in a company to existing shareholders in proportion to their current holdings. The price is adjusted such that the before and after market capitalization of the company remains the same and dilution does not occur.
IS A STOCK SPLIT GOOD OR BAD
According to Nerdwallet, when you had to split something as a kid, that generally didn’t feel like a perk. But when you’re an investor, splitting can be a good thing. Stock splits are a way a company’s board of directors can increase the number of shares outstanding while lowering the share price.
WHY WOULD A COMPANY SPLIT ITS STOCK
A stock split is used primarily by companies that have seen their share prices increase substantially and although the number of outstanding shares increases and price per share decreases, the market capitalization (and the value of the company) does not change. Simply put, just like the value of the $100 bill does not change if it is exchanged for two $50s.
However, not all stocks are created equal. That is why I do my homework first before buying ANY STOCK. There are some misfits out there that you do not want to buy. Basically, you get what you pay for. It kind of reminds me of The Misfits from the Jem and the Holograms cartoons.
If you read my Meet Miriam page, then you know it’s one of my favorite cartoons.
And because July fourth is around the corner, here is a shout out from The Misfits themselves!!!
SPLITTING THE APPLE
And last but most certainly not least, I give you Apple! I purchased stock in Apple (APPL) in 2013, when it was going for around $60 a share. Fast forward to 2019, and the stock is over $200 a share! I got in just in time.
It just so happens that the year after I purchased 5 shares for my birthday, in 2014, Apple split the stock. It all went down on 06/09/2014 as Apple did a 7 for 1 split.
My 5 shares turned into 35 shares overnight!
All this happened simply because I did some homework and took action. Calculated risks can pay off. Remember that fortune favors the bold. In the illustrious words of Jem, “outrageous!”
Earn the spotlight on your own merits. You’ll feel better. – Serena
I was reading a book when I decided to take a walk down memory lane and watch Gossip Girl on Netflix.
For those of you that may not know or remember the show, Gossip Girl was a show about privileged American socialite teens at an elite and exclusive academic prep school in Manhattan’s Upper East Side (UES); whose every move was texted out through an eblast via tips to an anonymous site called Gossip Girl.
What is Gossip Girl and what it does?
What’s the difference between gossip and scandal? So glad you asked, UES Forever. Anyone can commit a minor indiscretion and generate a day’s worth of buzz. But in order for gossip to birth a true scandal, it requires the right person to be in the wrong place. – Gossip Girl
Live in such a way that you would not be ashamed to sell your parrot to the town gossip. – Will Rogers (1879-1935)
The show was on the WB, then the CW, and aired from September 19, 2007 through December 17, 2012. The show was narrated by Kristen Bell (as Gossip Girl). Scandals, scoops, and hemlines run amuck. The show may have had a serious lack of ethics, but it did make for some interesting television.
Gossip Girl is based on a popular book series of the same name written by Cecily von Ziegesar. The adapted television series in 2007 came about from the book series she started in 2002.
Gossip Girl will always have a special place in my heart.
It was in 2007 that I heard this line from the show: You know, Dad, there’s this thing called MySpace where you can post all of this information online. Save some trees, have a blog. – Dan Humphrey
It peaked my interest in blogging. Then, I started this one, Greenbacks Magnet, 9 years later.
Some of the dialogue may be a bit harsh in its tone and delivery, but there was some truth behind some of their words.
Gossip Girl likes to keep things classy and somewhat true. – Serena van der Woodsen played by Blake Lively
Serena is so grateful because she likes to see the best in people. I like to see the truth. – Blair
So, let’s get right into it.
MEET THE MONEY PLAYERS
You got me thinking. If my class is so important to you maybe I ought to make it worth your while. So for the next seven weeks it’s fewer models and martinis, more flow charts and footnotes.– Colin Forrestor played by Sam Page
Last month, on Thanksgiving Day, I decided to watch some Thanksgiving themed movies and television episodes. And I settled on watching Gossip Girl.
The series follows Upper East Siders throughout their never ending drama filled lives that is often self-inflicted. It Girl Serena van der Woodsen is centered around it all and is the star of the show. Her friends and family make up the rest of the cast.
One of my favorite scenes is actually from the first episode of the series. It was a face-off that was incredible between two young women and it set the tone for the show.
The 4 top-billed (in my opinion) and main cast includes the following:
Blake Lively as Serena van der Woodsen AKA S
Leighton Meester as Blair Waldorf AKA B
Chace Crawford as Nate Archibald AKA Golden Boy
Ed Westwick as Chuck Bass Always
If you pay close attention to their conversations, they are dropping some serious money gems.
These little nuggets of life and money wisdom, when interpreted and applied correctly, could transform lives and bank balances.
Let’s begin.
WORK FOR WHAT YOU WANT
Never in my 16,982 hours of schooling have I ever been sentenced to detention. – Blair
Throughout the show, the main cast is always discussing their futures and going to college.
It was almost incessant in the amount of pretentious ponderings of how to be sartorially correct while interviewing for a top spot as a Yalie. And yes, that is a quite accurate assessment of the character known as Blair on the show.
Blair would look and act so innocent and demure like she couldn’t melt butter, but her stare and looks were as cold as ice. Very entertaining.
Here she goes on one of her tirades.
I am so a better fit for Yale than that Rory. – Blair
Now, she’s belittling and disparaging the character of one of my favorite shows Gilmore Girls.
But enough of the $50 words. Let’s talk about the rest of the show.
They attend the fictitious Constance Billard School for Girls and St. Jude School for Boys. In addition, throughout the show you may hear them casually drop names of other schools.
In the Gossip Girl (book series) — it contains the line “two little Sacred Heart girls in their cute red and white checked pinafores were walking an enormous black Rottweiler” on page 86 in the first novel of the series.
Many of the parents are part of high-society and are on boards of prestigious organizations, own businesses, and live in penthouses. They go to great parties, opening nights to the ballet, and fashion week.
You get the impression that these kids know to base their lives around money and making sure to earn piles of it is a must.
They are tireless paragons of poshness. The parties are lavish, the lifestyle is glamorous, and the fashion is couture and expensive. Makes for a great show.
What I noticed was that everyone in one way or another was working hard at trying to make their own way in the world apart from their rich and or famous families.
They chased their dreams relentlessly. Like a boss.
And made huge sacrifices to get what they wanted.
Great leaders only need three hours of sleep! – Blair
They worked, started or interned at major businesses, magazines, for fashion designers, newspapers, literary writers, politicians, and fashion houses.
You’re not likely to get or keep those gigs for long if you are playing around.
“When and if we end up together, it has to be as equals.” – Blair
Yes, indeed. Be independent.
BET ON SELF
Here’s my advice: Have a little faith, and if that doesn’t work, have a lot of mimosas.– Blair in the Wild Brunch Season 1 Episode 2
My family is really into waffles. – Jenny Humphrey sister of Dan Humphrey played by Taylor Momsen
If you want something, go get it. Have some faith in yourself. And good food and conversation go together. I have learned a lot about people when having lunch with them. It’s a great way to build relationships. My favorite meal is brunch. I too love waffles!
Their membership is so restricted, it makes Soho House look like a halfway house. – Blair
They say of you want to increase membership to something then increase the selection criteria.
The Ivy League have made this an art form. As you see on this show, even the wealthy were concerned about their college admissions. There was even some talk of donations to a school to get in. In the end, you see deep down, we all have our insecurities. Accept it, and move on.
I have learned that I am no better than anybody else, but I am always just as good.
KNOW YOUR WORTH
You deserve someone who would move mountains for you if he had to. – Blair to Serena
Normal people don’t get an endless number of chances, no matter the situation. That’s just you. – Dan to Serena
I have heard people say that well-behaved women seldom make history. At least that is what Eleanor Roosevelt said. I guess you can take her word for it as her husband FDR made history.
“I have an idea for you: quit. Your boss is a bi*ch. Let’s go to lunch.”
I have actually done just that very thing. I quit a bad job. Got a better job. And never looked back.
“I’m not a stop along the way, I’m a destination.” – Blair
That line could be someone’s Bumble Bee bio. I call it sophisticated confidence.
“He ended up treating me like something he owned instead of something he earned.” -Blair
You’re worth more than a guest lecture fee, everyone knows that. – Dan to Serena
A man who own a tuxedo shows that he has the means and can afford to provide for his family – Blair in Belles Du Jour Season 4 Episode 1
One of my favorite lines from the show comes from none other than Nate Archibald while talking to Chuck Bass.
Excuse me? Where’s my boy? “Seal the deal.” “Tap that a$$.” “Money marries bigger money.”
Wow. Money marries bigger money. That’s kind of cold, but ok.
I could care less about his Bassets and probably he’s filtering his assets through some foreign government so I won’t know. – Blair on Chuck Bass.
S: So you hired escorts? B, you couldn’t just tell your mom you don’t have friends at NYU?
B: Prostitutes are people, too, and they have a lot of disposable income. – Serena and Blair
Yes, people are focused on income, A LOT.
Take a cue from them and subscribe to The Wall Street Journal, pick up Fortune, TIME, instead of a gossip magazine and follow financial experts on Twitter. Become a devoted student of money, and you can master the science of getting rich.
Jane Austen also so eloquently puts how much emphasis people put on income in two of her novels. And also how to treat others with or without money.
FOR THE LOVE OF HEADBANDS
I know you disapprove of me, but can’t you at least do so in a tuxedo?– Lily van der Woodsen played by Kelly Rutherford
This show loves their tuxedos. And themed parties. Masquerade. Kiss on the Lips. You name it.
It is often said when you look good, you feel good. Well, I concur. You feel more confident as well.
I remember going to a job interview where some folks didn’t take it seriously. I wore a nice dress and some of the men wore suits while others wore jeans.
After I got hired and when I later started the job, I noticed on my first day that all the people that got hired were the ones that were well-dressed.
Piece of advice: lose the tulip. – Chuck
If you know one thing about GG, you know it’s all about the fashion.
The well-heeled wear nice heels. Blair was known for her love of headbands. People were always giving her grief about it.
Your era is over, and so is that headband. – Jenny
No headbands in college, okay? – Dan to Blair
Et tu, Dan?
SvdW was known for her fantastic sense of style.
And she had more loose interpretation of a school uniform than any person on the planet. The Tie Goddess. See for yourself.
EDUCATION IS PRICELESS AND THE PRICE OF INTELLECTUALISM
S:Wow, and I thought college would be different from high school.
B:Who would want that? – Serena and Blair
These kids were not just applying to any colleges, but the Ivy League. They wanted to be HYPsters (Harvard, Yale, Princeton) or the like. What Blair called the Holy Trinity of colleges. Which are all expensive colleges. We are talking $50,000 USD per year or more.
It was a constant stressor of theirs during the shows first four seasons. Case in point, here is a list of the schools they were trying to get into or that their parents attended.
For instance, Serena wanted to go to Brown and that college and Harvard are where her parents went. Blair wanted Yale and Nate was considering UCLA over Dartmouth like his father. There was also talk of Columbia, Georgetown, and NYU on the show.
It just goes to show you that getting an education is still mighty important.
Serena van der Woodsen or SvdW for short – Brown University, Columbia University
SvdW parents attended – Harvard University and Brown University
Fun show Fact: SvdW dropped out of Brown at the last minute because she wanted to find herself and she felt that moving away to another city wouldn’t help her achieve that. The classic one-year hiatus otherwise known as the infamous gap year before entering college.
This is what Blair had to say to her about going there.
Your deductive-reasoning skills are perfect for a place like Brown. An enclave of trustafarians and children of celebrities who major in drum circles and semiotics, whatever that is. I can’t wait for you to come home next Thanksgiving a militant veganista, anemic and proud. – Blair
It left me speechless.
Blair Waldorf – Yale University, Columbia University, New York University (NYU), NYU – Tisch School of the Arts
Nate Archibald – Columbia University, Dartmouth
Chuck Bass – Columbia University
Dan Humphrey AKA Lonely Boy played by Penn Badgley – NYU
Vanessa Abrams played by Jessica Szohr – NYU
Eric van der Woodsen played by Connor Paolo – Sarah Lawrence
Some character’s shots at the sheepskin, in my opinion, and other honorable college mentions include:
I’m telling you, I learned everything I know about women from Judy Blume’s Forever. – Dan
According to List Challenges, “Gossip Girl” (2007 – 2012) : here is a listing of some of the favorite authors and books of the characters or simply the ones mentioned by them and showed along these 6 seasons, books studied in university, etc.
Many characters also name dropped or were caught reading well-known books by famous authors.
I love the Snowflake Ball. It reminds me of Anna Karenina, only by Anna Wintour. – Serena
Maybe if we become famous writers one day, they’ll publish [our letters] after we die, like Sartre and de Beauvoir. – Vanessa
They also liked to travel extensively. Especially, in Europe such as Paris, France. In addition, they speak more than one language such as French while in Paris.
Elliott’s the perfect mix of smart and fun: He speaks three languages, but he has a subscription to People magazine. – Eric
List of titles includes:
House of Mirth by Edith Wharton – read by Juliet Sharp played by Katie Cassidy
The Lorax by Dr. Suess – Mentioned by Dan
Colette by Gigi – Blair read this on a bench in Paris
Jane Austen books – Pride and Prejudice, Emma, Mansfield Park, Northanger Abbey, Persuasion
Charles Dickens novels – A Tale of Two Cities, A Christmas Carol, Oliver Twist, Les Grandes Espérances
C. S. Lewis books – The Chronicles of Narnia, Alice’s Adventures in Wonderland
William Shakespeare – Othello, Romeo and Juliet, MacBeth, Henry V, Hamlet, King Lear
A few other famous works, Rabbit Redux by John Updike, Cyrano De Bergerac by Edmond Rostand, Les Liaisons Dangereuses, The Crucible (Arthur Miller), Wuthering Heights (Emily Bronte), I Know Why the Caged Bird Sings by Dr. Maya Angelou, The Art of War, The Crucible (Arthur Miller), Madame Bovary, The Old Man and the Sea (Ernest Hemingway), The Beautiful and Damned (F. Scott Fitzgerald), Cinderella (Charles Perrault),The Canterbury Tales by Geoffrey Chaucer, Faust, In Cold Blood by Truman Capote, Anna Karenina by Tolstoy, Walden, The Great Gatsby (F. Scott Fitzgerald), and Beloved by Toni Morrison.
There, I have just given you a reading list that every good high school student or Ivy League hopeful should have. Some of which I have read. My favorite author is Jane Austen. A close second is Louisa May Alcott, as I just love Little Women and the 1994 film starring Winona Ryder. But Austen’s Sense and Sensibility (1995) just amazes me every time. That along with Pride and Prejudice (2005) and Emma (1996).
The rich seem to be highly educated. They also tend to get ahead in life. Therefore, be well-read.
However, these trust fund babies did end up leaving college and higher education after a while to set out for their own fortunes in the real world.
For people like us a college degree is just an accessory. – Chuck
So, this too let’s you know that it is not always about what you know, but who you know.
You never know who you may run into at expensive coffee shops, libraries, restaurants, college, and hotels like the Palace in New York.
So, go build up those relationships.
MONEY AND RELATIONSHIPS
Just to clarify, I do think you deserve to be with someone who makes you happy. – Dan
True words indeed.
I read, like, five self-help blogs on how to turn friends into lovers. Yes, they used that word. – Dan
Come on, Cece’s heart pumps secrets and gin. – Dan
And there was lots of secrets on this show. Relationships and secrets were everywhere.
Sex is meaningful, like art. And you don’t rush art.– Dan
All great things are built or done slowly.
If you watched this show, then you may remember the season 3 episode with Lady Gaga. Here is her take on relationships that is so Blair Waldorf.
“Some women choose to follow men, and some women choose to follow their dreams. If you’re wondering which way to go, remember that your career will never wake up and tell you that it doesn’t love you anymore.” ― Lady Gaga
Marriage
Settling down means death. Less sex, more silence. – Blair on marriage
Blair also had some of the best lines on the show. EVERY. SINGLE. EPISODE.
Case in point, check this out.
And she actually said this too.
That’s the thing. You need to be cold to be queen. Anne Boleyn thought only with her heart, and she got her head chopped off. So her daughter Elizabeth made a vow never to marry a man. She married a country. Forget boys. Keep your eye on the prize, Jenny Humphrey. You can’t make people love you, but you can make them fear you. For what it’s worth, you’re my queen. I choose you. – Blair
As, I am a history buff and studied up on Queen Elizabeth I of England, my mouth fell open when she said this.
Check it out here.
And I am not the only one who feels she should get some praise for her talented banter.
C: It’s a facility for the disturbed or addicted.
B: You must have your own wing.
C: You don’t get enough credit for your wit.
– Chuck and Blair
If you go back with an uncertain heart, there will be drama and disaster for all. – Blair
You better believe it. In life and relationships, to be successful, you have to commit.
LOVE
B:Love me?
C:Always.
– Blair and Chuck
They were the best characters on the show, in my humble opinion. The two of them together was gold. Take a look for yourself.
But ultimately, I have learned that love is what we are all looking for.
MONEY DOESN’T BUY HAPPINESS
Trouble is moving in, and it’s looking to make the Upper East Side it’s bi*ch.– Gossip Girl
You would think that folks in tuxedos and ball gowns are the happiest, but these people seemed so unhappy.
Happiness can’t be measured in things. It comes from having the things that really matter like people who love you for who you are.
Doing the right thing takes courage and strength. At least that’s what I’ve heard. – Blair
Well, I hope you had fun going down memory lane with me and I will bid you adieu in the best possible way to end this post.
