i know what i'm getting for christmas...
Today at work I was pretty bored on my break. Not bored enough to go back to work. So I started following random news threads on the MSN homepage....there was one promising looking message board on the topic "The Stupidest Thing I've ever Wasted Money On".
I found this exchange:
Bought 5000 bushel of Corn futures in 1978. I remember it well - that was going to be my ticket to wealth - I spent many nights at the library going thru old WSJs and plotting price charts, I had a 3-ring binder full of point-and-figure charts. (If only Al Gore had invented the net a few years earlier it would have taken about an hour).
Phil5185, what are bushels of Corn futures...I am guessing it is some program that flopped since I have never heard of it.
No, no flop, it's very much alive. The Chicago Board of Exchange (CBOE) is a major Exchange for commodities- it is similar to the NYSE for stocks. The CBOE trades grain (corn, wheat, soybeans), metals (gold, silver, copper), oil, coffee, orange juice, and many others. They are traded as a 'future' contract for the delivery of the commodity at some future date. If you buy one contract (5000 bushel) of corn for Dec 2008, it will be delivered to you on that date unless you sell your contract before the date. So, it's still there, feel free to take your chances, lol.
This raises some questions for me...mostly, why was this a bad investment? He doesn't say how it went wrong. I don't think there has been a major drop in the value of corn since 1978. Not that I do a lot of commodities trading, but, it's not a cassette player, it never goes out of style...
Is there less available corn per capita? Did something bad happen to his specific corn? Dry rot? Rats? Marauding chickens?
Also, who thinks that corn from the future is the fast track to untold riches? Maybe that's why it's a bad investment. You have to wait until 2008 and you only make 2 cents per cob.
Anyway, the really intriguing thing here is the potential this has as a present. I mean, I know most likely doesn't happen this way, but "it will be delivered to you on that date" brings to mind this scenario.........
One wakes up on a crisp December morn years in the future. The warmth of the blankets contrasts with the frost on the windowpane. The peacefulness of the day is suddenly shattered by a rumbling and shaking in the very foundations of the house...one looks out the window to see 50 large mining trucks approaching bearing...is that.....is it....CORN!!?
Seriously think about giving this to me or others for christmas. It will definitely be a surprise....it may be the fast ticket to wealth! You can just tell your loved one that you have bought them 5000 bushels of corn. And of course, don't tell them on what day (or year) it will be delivered.
I found this exchange:
Bought 5000 bushel of Corn futures in 1978. I remember it well - that was going to be my ticket to wealth - I spent many nights at the library going thru old WSJs and plotting price charts, I had a 3-ring binder full of point-and-figure charts. (If only Al Gore had invented the net a few years earlier it would have taken about an hour).
Phil5185, what are bushels of Corn futures...I am guessing it is some program that flopped since I have never heard of it.
No, no flop, it's very much alive. The Chicago Board of Exchange (CBOE) is a major Exchange for commodities- it is similar to the NYSE for stocks. The CBOE trades grain (corn, wheat, soybeans), metals (gold, silver, copper), oil, coffee, orange juice, and many others. They are traded as a 'future' contract for the delivery of the commodity at some future date. If you buy one contract (5000 bushel) of corn for Dec 2008, it will be delivered to you on that date unless you sell your contract before the date. So, it's still there, feel free to take your chances, lol.
This raises some questions for me...mostly, why was this a bad investment? He doesn't say how it went wrong. I don't think there has been a major drop in the value of corn since 1978. Not that I do a lot of commodities trading, but, it's not a cassette player, it never goes out of style...
Is there less available corn per capita? Did something bad happen to his specific corn? Dry rot? Rats? Marauding chickens?
Also, who thinks that corn from the future is the fast track to untold riches? Maybe that's why it's a bad investment. You have to wait until 2008 and you only make 2 cents per cob.
Anyway, the really intriguing thing here is the potential this has as a present. I mean, I know most likely doesn't happen this way, but "it will be delivered to you on that date" brings to mind this scenario.........
One wakes up on a crisp December morn years in the future. The warmth of the blankets contrasts with the frost on the windowpane. The peacefulness of the day is suddenly shattered by a rumbling and shaking in the very foundations of the house...one looks out the window to see 50 large mining trucks approaching bearing...is that.....is it....CORN!!?
Seriously think about giving this to me or others for christmas. It will definitely be a surprise....it may be the fast ticket to wealth! You can just tell your loved one that you have bought them 5000 bushels of corn. And of course, don't tell them on what day (or year) it will be delivered.
posted by Idoru at 11:35 PM
4 Comments:
Corn is good for livestock feed and ethanol. And for being corn, if you like corn. So one would predict that it will be very valuable in the future. But it's a funny world. Evel Knievel is sueing Kanye West. Come to think of it, where is Wesley Snipes these days? You get my point. Perhaps you don't. Buy corn Rhianna, as much as possible, while you still can.
corn! i hate corn!
I'm so giving you fertilizer futures for Christmas-fertilizer made from fish poop!
I think it's safe to say pu not pi is not mom
Unless she just sounds weird.
I'm getting you something much better than corn muahaha
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