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1. 59 yo-yos, purchased over a lifetime on the principle that they would accrue in value and eventually be collector’s items, as indeed they are, in the sense that they seem to be of interest only to the person who collected them. Current value: $157 dollars. 

2. Large portfolio of comic books circa 1966 – 2006, assembled after I found out that my mother had thrown away all my Silver Age Marvel comics. Collection includes many vintage R. Crumbs, entire run of Spawn, Preacher, and many other underground titles. Current value estimated, by me, to be far from the $5 million projected, by me, while the process of investment was underway. 

3. 50 shares of Google (GOOG) purchased for a stagnant IRA of mine at approximately $700 per share not all that long ago, when we all had nowhere to go but up. Yesterday’s share price: $324. 

4. Assorted shares of other “blue-chip” firms purchased 1995-2000, when I decided to “go conservative” in the market. Current decline in value: 90%. 

5. A number of stock options now valued by ridiculous accounting rules to be worth something. Actual value in foreseeable future given the state of the economy and tremulous state of Wall Street: $0.00. 

6. Several contracts that provide “guaranteed” income from firms that now no longer exist. Black-Scholls value of these worthless contracts: $14,530,423.34. 

7. One co-op in New York City. Present estimate of market value: Will accept any reasonable offer. 

8. One twelve-year-old cocker spaniel, selectively incontinent, likes chocolate. Current value: Priceless.




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You know Bing, I think the cocker spaniel may have been the best investment of the lot.

Posted By Jim, Winston-Salem, NC : March 26, 2009 10:23 am

Hey Warren Buffet, there are a few items in there that might interest you. Get them while they’re hot, before they go to TARP.

Posted By Mike Jackson – Austin, Texas : March 26, 2009 10:42 am

Cool article!

Posted By Richard, Buenos Aires – Argentina : March 26, 2009 10:45 am

MEMO TO BING FROM FED GUY.

We have reviewed your request for assistance under Tarp and find that rather than being too big to fall, you are in fact, too small to stand.

Had you increased the value of your claim to the multi billion threshold and/or been a foreign holding, we would have sent the money to you straight away.

Your claim also lacked details of frivilious spending should you recieve Tarp funding, there was no mention of family trips to expensive and exotic places, grouse shooting in Scotland or other such endevours that would build confidence in the market place.

Spending like that is paramount to sustain market confidence, after all the govt. cannot have people recieving tarp money and not spending it to help the economy, we have enough Banks doing that already.

You do qualify for our small American business assistance package.

In it you will find:

A going out of business sign

A small plastic sheet (tarp) to protect you and your family from the elements.

2 coupons allowing you to get free grease for the wheels on any shopping cart you may employ as a new means of obtaining money.

A booklet on how to prepare and cook roadkill for a family of four.

Posted By Jack Hammond Canada : March 26, 2009 10:52 am

5 — $100 gift cards from friends and relatives this past Christmas, redeemable at stores now defunct.

Posted By Silly Willy, Atlanta, GA : March 26, 2009 10:57 am

Bing,
It’s the little things in life that shine in dark times like this. I have a schnauzer that has continued to show her unconditional love for me even when though my 401k is gone…all they care about is resting in our laps, absorbing the stress.

Posted By David, Los Angeles CA : March 26, 2009 11:12 am

Bing:
Sounds like it might be a good time to revisit “IF” by R. Kippling. Hang in, people are counting on you to lead us out of the dark days!

Posted By Jack Bolger,Englewood, CO : March 26, 2009 12:08 pm

Jack, I will do my best! Now… if I could only find my flashlight…

Posted By Bing : March 26, 2009 12:14 pm

The only true asset is cash.

Posted By Yadgyu, Harkeyville, TX : March 26, 2009 1:00 pm

And don’t forget your health, Yadgyu. When you have your health you have everything.

Posted By Bing : March 26, 2009 2:32 pm

Health, cash, and a loyal dog – a good situation to be in.

Even better if you have 2 dogs, they entertain each other while you are off to battle.

Posted By Dan, Charlottesville VA : March 26, 2009 3:54 pm

How about sanity? Is that an asset or a liability?

“Want nothing, and you shall never be disapointed”…well, I for one have a surplus of nothing, and would be happy to give some to those who want or need it…although there are so many things better than nothing, I’ve been told…maybe your nothing is better than mine…could it be that my nothing might qualify as a toxic asset? Hmmm…

Bing, my brother the vet says chocolate is poison to dogs, just FYI…although my naughty dog stole and ate a bunch once and he seemed OK…

Posted By Robbie P, Endicott NY : March 26, 2009 4:31 pm

Two goldens, Bubba and Lilly. Finer swamp collies you’ll never see. Loyal, smart, marvelous companions.

Toxic assets?

I’ve had a few,
but then again
too few to mention.

Posted By Paul, Miami, Fl. : March 26, 2009 5:34 pm

At least you did it your way, Paul.

Posted By Bing : March 26, 2009 7:02 pm

You know Bing, the part of that song I don’t get is when Frank sings:

And through it all
when there was kraut
I ate it up and spit it out.

Why would anyone spit out good kraut?

Epicurian?

No, but good servicible cabbage.

Have you or any fellow poster any ideas?

Posted By Paul, Miami, Fl : March 26, 2009 7:45 pm

Bing,
My wife and dogs certainly provide priceless comfort to me. In fact, guess which always regards me with adoring eyes?

Hope some of your ’second collection’ comix include the ‘Fabulous Furry Freak Brothers’!

Posted By Mike, Spokane, WA : March 26, 2009 8:23 pm

how about your guitar and all those old ipods you were getting people to beg you for?

Oh, chocolate, it’s not just for breakfast anymore.

Posted By Jane, NY, NY : March 26, 2009 9:08 pm

You should have invested with my buddy (Bernard) like I told you!

Posted By steveo, Atlanta, GA : March 27, 2009 7:52 am

Zap, Mike.

Posted By Bing : March 27, 2009 10:04 am

Bing:
I’m afraid you are not going to qualify, not even for a penny. here is why:

1-To begin with, anybody can see that the person who wrote the request is an honest individual. You failed to use the language and verbosity that crooks and “supra-intelligent” investors and CEO’s use. Read the GM and Chrysler requests for govm’t money, watch the Senate hearings of the Citi, BofA, Merrill, etc, etc “Masters of the Universe”.

2-You need to show unimaginable losses from complex, impossible to understand, investments.

3-Again, by reading your request, anyone can see that who wrote it, is an intelligent person, you need to re-write it in a way that shows a tremendous amount of stupidity, irresponsibility and lack of judgment. Once again, please take a look at the senate hearings of the Citi, BofA, Merrill, etc “Masters of the Universe”. Use phrases like this: “I’m the Captain of this ship, and while I’m responsible of its rudder and direction, I’m not responsible of the storm”…wow!!!

The rule to qualify for Fed help is to 1)have mega-losses, 2)CEO’s have to demonstrate a high degree of stupidity and 3)your structure and investments need to be impossible to understand.

Sorry!

Posted By Isaac, Culver City Ca : March 27, 2009 10:55 am

Thanks for LMAO…

Posted By urbantrekker, mclean, va : March 28, 2009 4:14 pm

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Stanley Bing
Stanley Bing is a Fortune columnist and best-selling author of business books noted for their wisdom as well as their sharp, slightly acrid sense of humor. He is also the only writer on business and the workplace who still puts on a suit and tie and goes to do battle with the dragons that breathe fire at corporate America every day. This blog captures what remains of his brain after it has exploded in all other directions.
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