Last Wednesday crude oil ($wtic: chart) crossed the magic $100 per barrel threshold for the first time ever. But now it appears that the event was an attempt to gain 15 minutes of fame.

Evidently, a single trader bid up the price of crude by buying a 1,000 barrel contract off the floor for $100 per barrel, then turned around and sold it for $99.60 per barrel, a $600 loss (crude crossed the magic $100 line again the next day, but let’s face it, there are no points for second place!).

Most trading in energy futures has shifted …

I called my banker yesterday after I started thinking about how I was going to finance another rental property. When I call this guy my banker, he IS the bank, as in, he OWNS the bank. A good guy to know, indeed!
One of the benefits to doing business with a small town bank is that you know the bank and they know you. There is no pre-approval as long as your logic is sound and the margin is wide. If you have the cash flow to support the investment, they’ll lend you the money.
So the …

I’ve been casually looking for another rental property next to the one I already own. For a long time, the people in the area have been very proud of their houses, asking nearly 5 times what they’re actually worth. Needless to say, those houses are still on the market, many for as long as 15 months and counting.
But there is one property just a block or two away from my first one that has been on the market for 4 months, and its price has been dropping like a rock. The reason? The bank wants out!
I remember …

It seems like 2007 blew by in a flash, and I’ve been trying to think about all the accomplishments that have been made over the last year, and I find myself distracted by all the opportunity lying in wait for 2008!

I think it will be a great year to buy into undervalued investments, namely real estate and financial institutions (i.e. stock), and oil and gas investments will continue to turn out healthy gains but may not pose attractive buying opportunities.

At any rate, here’s to a happy and prosperous 2008!