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April Banter 2020


George BM
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13 minutes ago, showmethesnow said:

@PrinceFrederickWx

Not sure if anyone jumped back into the Stock Market at this time but if you are, now may be a good time to bail for awhile. Pretty much in uncharted waters with this virus so this can't be said with certainty but we will see Company earnings coming out this week and they look to be worse then was projected, potentially much worse. Typical reaction would normally be to see a fairly significant drop across the board in the Market. But again, virus, uncharted waters, etc...

eta: There are other considerations as well. Plunging oil prices, nations now starting to open back up, etc... But I think the Company earnings will be the driving force for this week and we could see a significant drop.

I think if you have 5 year plus time horizon staying invested and buying as much as possible broad mutual funds is the way to go.  My humble opinion.  This will pass.  

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Quote

NBC Sports' Peter King still has the Ravens selecting Oklahoma's Kenneth Murray in the first round.

"My bet is the Ravens might try to move up a few slots to steal Murray; he's the best pure linebacker in the draft, a sideline to sideline menace, and would be a godsend for defensive coordinator Wink Martindale to use as a chess piece," King wrote. "He's also a future NFL Man of the Year, a totally too-good-to-be-true guy who helps his parents raise three siblings with special needs. Murray to the Ravens is a football match made in heaven. I'd love to see it happen."

I would too.

NFL Draft starts Thursday. Finally some real time sports related activity.

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10 hours ago, H2O said:

You could. Just order a underground petroleum storage tank from amazon and bury it. Ground is soft. Then back up the tanker truck and fill

Had a nightmare experience with an old abandon underground fuel oil tank.  

When we bought our current home in 2009 there was no sign of an underground tank.  Our home was built in 76 and nat gas was installed in 86.  Had a switch in the bsmt labeled "Emergency Fuel Oil Shutoff" but it did not run to anything and there was NFI regarding the old tank, which we assumed was removed when Nat Gas was installed in 86.   NFI that is until 2011 when we excavated for our new garage and found the abandoned tank in the back yard.  Was a 550 gal tank nearly full of sand to keep it from surfacing from frost heave.  The tank disintegrated as it was removed, which spilt the remaining fuel oil residue.  Not good...

 The contractor was obligated by EPA regs to notify the FFCO Fire Marshal who then had to personally oversea the remainder of the excavation and soil abatement (the Fire Marshal could not delegate to a subordinate).   $3500 later we received the all clear from the contaminated soil test facility in Richmond (there are only 2 on the entire east coast).  

There was absolutely no reference to the buried fuel oil tank when we purchased the house.  Looked to see if we had any recourse, but it's likely the previous two owners didn't know too (we are the 4th owner).  Was an expensive lesson that turned into a learning opportunity I hope to never apply in the future. 

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55 minutes ago, RDM said:

Had a nightmare experience with an old abandon underground fuel oil tank.  

When we bought our current home in 2009 there was no sign of an underground tank.  Our home was built in 76 and nat gas was installed in 86.  Had a switch in the bsmt labeled "Emergency Fuel Oil Shutoff" but it did not run to anything and there was NFI regarding the old tank, which we assumed was removed when Nat Gas was installed in 86.   NFI that is until 2011 when we excavated for our new garage and found the abandoned tank in the back yard.  Was a 550 gal tank nearly full of sand to keep it from surfacing from frost heave.  The tank disintegrated as it was removed, which spilt the remaining fuel oil residue.  Not good...

 The contractor was obligated by EPA regs to notify the FFCO Fire Marshal who then had to personally oversea the remainder of the excavation and soil abatement (the Fire Marshal could not delegate to a subordinate).   $3500 later we received the all clear from the contaminated soil test facility in Richmond (there are only 2 on the entire east coast).  

There was absolutely no reference to the buried fuel oil tank when we purchased the house.  Looked to see if we had any recourse, but it's likely the previous two owners didn't know too (we are the 4th owner).  Was an expensive lesson that turned into a learning opportunity I hope to never apply in the future. 

So what you’re telling us is that you had an opportunity to put in a garage pit and you didn’t do it. I’ll bet you wore plastic cleats as a kid too! ;)

I bought my 1941 house about 15 years ago from the original owner’s daughter who was willed the home when her mother died. Had a full inspection of course, and he was great. But about a year after I bought it, I had the annual furnace service done and the guy was shocked to see the original oil tank in the basement. There were areas that looked so bad on the tank that he was sure he could punch a screwdriver through. I got it replaced immediately and also had it moved outside to under the front porch.

In hindsight, I should have converted to natural gas right then, but I can be pretty dumb.

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15 hours ago, DCTeacherman said:

Hey the covid thread wasn’t a disaster today 

May have spoken too soon...looks like it's gotten a bit chippy in there this morning from what I saw!

 

12 hours ago, Maestrobjwa said:

Boooooo...lol 

LOL!!  Well, when I saw @stormtracker appear in here the other day, Beethoven was wearing a mask!!  So there is that...

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On 4/20/2020 at 7:51 AM, showmethesnow said:

@PrinceFrederickWx

Not sure if anyone jumped back into the Stock Market at this time but if you are, now may be a good time to bail for awhile. Pretty much in uncharted waters with this virus so this can't be said with certainty but we will see Company earnings coming out this week and they look to be worse then was projected, potentially much worse. Typical reaction would normally be to see a fairly significant drop across the board in the Market. But again, virus, uncharted waters, etc...

eta: There are other considerations as well. Plunging oil prices, nations now starting to open back up, etc... But I think the Company earnings will be the driving force for this week and we could see a significant drop.

 

On 4/20/2020 at 8:08 AM, BristowWx said:

I think if you have 5 year plus time horizon staying invested and buying as much as possible broad mutual funds is the way to go.  My humble opinion.  This will pass.  

We accidentally looked at our daughters 529 statements that came. Lets just say that we will be ok riding it out or I will have to start selling velvet Elvis paintings on the corner so they can attend. 

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