Carribean Sailing diary

Saturday, Nov 20, 2004

7:15 Talk with Mike about trip so far 7:30 Yesterday while sailing, I was thinking some more about a personal managed account. First of all, I realized that I didn't take into account the possibility of the market falling further when I invested in those risky PNO shares

Sep 2000 first investment market falls further due to Bubble May 2001 second investment Sept 11, 2001 attack on WTC Feb 2002 third investment Corporate scandals of 2002 War in Afghanistan War in Iraq + High Oil Prices Summer 2003 Market finally bottoms for now

In other words, I didn't let that stop me, unlike what I wrote that morning before getting up yesterday. This reminded me that I was investing in PNO because it was meaningful to me, and I recalled the advice to "Invest in what you love." Would I "love" using a personal money manager to seek out risky equities? I doubt it. I'm curious to compare small cap growth 7.06 small cap value 14.12 over next 10 years. Small cap as whole 11.89

Now it dawns on me again that I could just invest in junk bonds if I wanted to direct some assets to risky companies. Use a bond fund for this. But I'm not in love with this either. When I was reading "Spirituality of Imperfection" yesterday after sailing I picked up on the admonition "Pay attention to yourself." This morning I realize I have a fairly full plate for the next several months.

Dec Setup room at Mikes Paint colors for walls Large annual gifts to charities Get to know value Holidays Print out sheets on each of the NASD 100

Jan Write about Dad Create PNO versus Yahoo vs NASDAQ page And Medtronic + Guidant + EPS Growth pages. More redecorating - upholstery and carpet.

Feb-Mar Review what I've learned about philanthropy last 8 years GLSEN Board meeting, since I want to skip NYC. Taxes

Apr Write investment 2005?

Also I recalled that Hewlett has never named anything after that family at Stanford, + I don't think I could feel comfortable being the lead donor on a big engineering building because I'd wonder why someone from the bioengineering industry wasn't willing to be the lead. I should be in the second level of donors for that. Therefore I don't feel the need to understand that industry at least so deeply, anymore and I can let go of investing in individual companies there.

8:15 Still, maybe I should use York to invest in the big ones such as Medtronic + Guidant (I don't love them) and then track their share price relative to Vanguard Healthcare. Breakfast

10am Go snorkle off Cooper Island + see 3 Barracuda 11 am Cleanup Make lunch for all with Mike Chat 12:30 Sail While I'm at the wheel it gets stormy, but OK! I give wheel to Mike. Main sail breaks off Boom

Motor into Leverick Bay Get more water. Dispose of trash. Shower. Relax. Shop at Pusser's. Groceries. Back to sailboat.

6:30 Drinks. Setup Scrabble. Incidentally I recall that while I was thining of "Investing in what you love" I realized how this can lead to some natural alliances such as GE, MicroSoft, Intel, NASDAQ. This lead me to believe that I am betting on a team that I select and that I love. We don't play Scrabble since W + J need the table, so I read more of Spirit Ch 6. Chicken dinner made by W + J. Sit on the deck, all of us, til rain. One round of Wizards. I'm tired and place 3rd or 4th. Tied with Wayne. Mike 2nd and Jerry wins. Bed.

Sunday Nov 21, 2004

7:15 Play with Mike. 8:00 Get up. Mike and I make eggs + veggies with bacon. Good! 9:15 I regroup while W + J do dishes + Mike + John get underway, so we can get to Trellis Bay or Tortola to get sail fixed. While thinking on back of the boat, I consider possibility of a personal managed index fund of Device Company stocks.

11:45 Arrive at Trellis Bay on Beef Island + dress to go ashore. See Aragorn's Art Center, Zip Walk on Beach to point for Sunday exercise while John + repairmen fetch sail.

1pm Dinghy back to sailboat.

1:15 Help make lunch

I've sometimes considered buying a small cap index fund, but the problem is that it may sell stocks when the become mid cap and lose the run-up. Also I'd possibly like to have a small cap focus on medical devices so that's like a small-cap sector fund. If Medtronics + Guidant are part of S&P 500 or NASDAQ 100 then I don't need to own them directly although I'll track their P/E as a proxy for the valuation of my small cap bioengineering index fund.

With my own fund I could have control of its proxy voting. But I don't love that work especially if I can't make time.

Eat sandwiches. Talk w Garrett re his photo work.

1:45 Cross over to Marina Cay

2:15 Rum punch for all Finish Spirituality Ch 6 Start Part II Read Spirituality Ch 7 on the front boat deck with Mike under the mast. Very pleasant + enlightening.

4:45 Talk + have one vodka tonic. Watch sunset + take photos.

5:45 Ferry in to Pussers. Buy another crinkle pants.

6:30 Dinner at Pussers 9pm Play Wizards without Wayne. I lose through the game, but rather than feeling bad, I'm in touch with my risky actions (overbidding) to try to catch up. This enlightens me about what happens with so many others throughout real life. Also, I notice that the two top players Mike + Jerry are very competitive trying to set the other back, as much as to win for themselves. That's not in my DNA's expression. I need to find a different activity to do socially at which I can shine.

10:45 To bed. In bed, I hear running water which reminds me again of the current that nearly swept us away while simming here in 2002. Earlier in the day I had noticed the small passage between Scrub Island and Camerone Island and theorized that that is why the water pushed through by the wind forms a current here.

Garrett actually went into the water and said it's still as strong today. I looked at the chart map to visualize how narrow that gap is.