Parents Raised Money For Baseball Team, Judge Uses Title IX To Tear Down Bleachers

Students and parents of student at Plymouth Salem High School in Michigan have been dealing with one of the grossest overreaches of Title IX legislation in recent memory. Here’s a useful summary from a recent Yahoo Sports story on the matter:

Six years ago, parents of Plymouth High’s boys’ varsity team raised money and built stadium seating so they could watch from above a black chain-link fence that made spectating difficult, according to WJBK-TV. The parents also installed a new scoreboard for the baseball field.

Now, the school must tear it all down. The U.S. Education Department’s Office for Civil Rights opened an investigation following an anonymous complaint. Ultimately, officials demanded that the seating and scoreboard be torn down because the upgrades are superior to Plymouth’s girls’ softball facilities. The boys’ seating is also not handicap accessible, which is a separate violation of government regulations.

One of the purported reasons … Read the rest of this article!

Phillips 66 Stock: The Conoco Spinoff Seven Years Later

I had always admired the “old” Conoco Phillips that included what is now ConocoPhillips (COP) and the new Phillips 66 (PSX). It owned immense oil, natural gas, and refining assets, and due to some historical mismanagement and the fact that it was an oil explorer without pockets as deep as rivals Chevron and what is now ExxonMobil, it always traded at a substantial discount to its peers.

For most of the 1990s and early 2000s, Conoco could be purchased with a 4% or 5% starting yield, which would get reinvested at low prices, and it created the type of situation where someone could make look back on several years of financial statements and see the compounding of dividends getting reinvested build wealth right before their eyes, even in as short of a time frame as 3-5 years.

In 2012, as we all know, Conoco decided to spin off Phillips 66, … Read the rest of this article!

Bear Market Investing For Long-Term Investors

I was watching CNBC recently (I know) and many of the advertisements between the programming focused on bear market investing with an encouragement to buy some trading algorithm, or making rapid buy and sell decisions, or something or the other. The technical definition of a bear market is any decline of 20% or greater from a prior high, but the common usage of the term can sometimes refer to declines that aren’t as deep but come more rapidly.

Most people are either sold on the idea that they can develop the capability to sell a particular investment before it declines substantially due to overall economic conditions, or they feel the need to do something as paper wealth disappears before their very eyes.

I suggest an alternative route. Instead of posing the question, “How can I sell stocks and/or avoid dramatic paper losses?” and acting accordingly, I instead believe the best … Read the rest of this article!