The Dailies

Part 1

Money Magazine collected the best advice from some of the smartest investors (and other people) who have ever lived.

1. Be humble

When you do not know a thing, to allow that you do not know it–this is knowledge.
–Confucius

Investing is a big bet on an unknowable future. The mark of wisdom is accepting just how unknowable it is. Granted, that’s not easy. Our brains are built to think the future will be like the near past. And we’re too ready to act on the predictions of pundits, who are no more clued in than we are about what lies ahead.

Being humble in the face of uncertainty keeps you from costly mistakes. You won’t jump on yesterday’s bandwagon. And before you invest, you’ll be more likely to ask a key question: “What if I’m wrong?”

2. Take calculated risks

He that is overcautious will accomplish little.
–Friedrich von Schiller

The returns you get are proportionate to the risk you take. This is a fundamental law of the markets. It’s why five-year CDs typically pay more than six-month ones and why you’re disappointed if your emerging markets fund does no better than its stodgy blue-chip stablemate. History unequivocally supports this “no free lunch” principle. Going back to 1926, stocks (high risk) have paid more than government bonds (medium risk), which in turn have beaten low-risk Treasury bills.

Among many, many other things, this law suggests:

* To earn returns high enough to build true wealth, you have to put some of your money in risky assets like stocks–the only investment to handily beat inflation over time.
* If a financial salesperson tries to tell you his product offers a high return with no risk, get that claim in writing. Then send it and his business card to the SEC.

3. Have an emergency fund

For age and want, save while you may; no morning sun lasts a whole day.
–Benjamin Franklin

The first step in constructing any serious financial plan is to create an emergency cash fund–ideally, three to six months’ living expenses–stashed in a low-cost ultrasafe bank account or money-market fund. Without this financial cushion, any unexpected expense can derail your long-term plans.

These days, happily, that emergency stash won’t just sit idle. Top bank accounts like the one at UFB Direct (888-580-0049) and perennially competitive money funds like Vanguard Prime (800-851-4999) now pay more than 5%.

Filmmaker Julian Schnabel says he did not pay much attention when he was given a copy of the extraordinary memoir “The Diving Bell and the Butterfly” about six years ago.

The slender volume was written by Jean-Dominique Bauby, a French magazine editor who had been almost entirely paralyzed by a stroke at the age of 43. Yet he managed to dictate “The Diving Bell” while lying in a hospital bed, communicating with his caregivers by blinking his left eye.

A few years afterwards, as Schnabel was coming to terms with the imminent death of his father, Bauby entered his life once more in the form of a screenplay drafted by Ronald Harwood, the Oscar-winning writer of “The Pianist.”

Producer Kathleen Kennedy had offered Schnabel the chance to direct, and the story of Bauby’s suffering affected him so profoundly, he ultimately agreed.

“The thing about my dad is, he was never sick in his life, but he was very, very scared to die, and I couldn’t help him,” Schnabel recalls. “I couldn’t take away his fear of death, but through this film, I thought I could speak to people that were sick, that are scared to die. I could talk to someone about what consciousness is about, what it is to be alive.”

to be continued…

Owen Wilson hospitalised after suicide bid…

Actor Owen Wilson, the star of Wedding Crashers and a symbol of a carefree Hollywood lifestyle, has been hospitalised following a suicide attempt.

Wilson, 38, was transported to St John’s hospital in Santa Monica, California on Sunday. Gossip magazines said that he had cut his left wrist and taken an indeterminate amount of pills.

“I respectfully ask that the media allow me to receive care and heal in private during this difficult time,” Wilson said in a statement.

Wilson was reportedly discovered by a family member, who summoned help. He is said to have arrived at the hospital in a very serious condition. His wrist was sutured and bandaged before he was transferred to Cedar-Sinai Hospital, where he underwent a detoxification procedure.

Wilson has starred in a number of successful films, including The Royal Tenenbaums , for which he earned a writing Academy Award nomination, and Zoolander .

Regarded as a fun-loving bachelor, Wilson is nicknamed the Butterscotch Stallion and was last involved with actress Kate Hudson. The relationship ended in June and, according to celebrity reports, it plunged Wilson into depression.

Since I did not watch the movie but was interested with the brouhaha it created, I searched for a good critique and remembered Nestor U. Torre. Here’s his review of the movie A Love Story.

The movie love triangle redefined

At first blush, “A Love Story” looks like it’s going to unfold in a standard manner, as its “generic” title intimates. In fact, it starts with the “regulation” confrontation scene between two women who we presume are the wife (Maricel Soriano) and the young mistress (Angelica Panganiban) of the “confused” male protagonist, played by Aga Muhlach.

As the film progresses, however, it turns out that we’re in for a series of twists and other surprises that make Maryo J. Delos Reyes’ new love triangle quite different from the usual romantic melodrama.

By skewing its perspective so “naughtily,” it’s as if the production is saying that the usual contexts of “a love story” are no longer operative, and that new definitions and declensions of “love” are definitely in order.

We’re all for cinematic surprises, so we welcome the plot and character twists. Later, however, our involvement is marred when Aga’s character turns out to be a psychological mess—but the movie doesn’t make it clear why.

Yes, it informs us that he comes from a broken home, that his mother left her family high and dry, that his father was disappointed in him, that his father, who now has Alzheimer’s, can’t even recognize him, etc.

But these downbeat notes don’t adequately explain Aga’s dangerous mood swings, which wreak havoc on the women he professes to love.

Despite this lack of psychological focus, we’re glad to see Aga go beyond his patented “cute but sensitive” acting style, and come up with some harshly compelling acting highlights.

Unfortunately, some of these raw moments are marred by excessive musical underscoring, which robs them of their passion and power.

As for Maricel, she does well enough in this movie, but her “signature” mannerism (pursing lips) occasionally distracts.

The acting find here is Angelica, who despite her young age is able to hold her own in her scenes with the vastly more experienced Aga and Maricel.

Another fine place of acting is turned in by Mark Gil as Maricel’s former husband. He figures in only a few scenes, but he fills them with the quiet but intense truth of his portrayal.

As the movie’s plot and characters are further developed, we appreciate the production’s other strengths, which include effectively off-tangent “coincidences,” like Maricel finding herself involved in the delivery of Angelica and Aga’s baby. Oh, how she suffers through it all, and the women in the audience empathize with her pain!

This, again, stretches the limits of the traditional concept of “love,” which is the movie’s most remarkable contribution to the constantly evolving lexicon of screen romances.

Too bad that the film paid less attention to its characters’ back stories, and the psychological underpinnings of its male protagonist’s many, knotted-up angsts.

I was reading OMG! a few minutes ago and I’ve read that the two led stars of HSM are holding out for a bigger pay. Well, they probably deserve bonuses for making the Disney made-for-tv show a huge success! But Zac Efron and Vanessa Hudgens asking for ridiculous amounts of money?? Hmm…

For the full details of the story, read on…

With the overwhelming success of Disney Channel’s “High School Musical 2″ on the small screen, it’s no secret Disney is itching to ride the wave of success with a big screen sequel.

Gossip reports surfaced today that the planned third movie, is in trouble. Several reports claim that stars Zac Efron and Vanessa Hudgens are holding out on the big screen version for more money.

When Access Hollywood spoke to Zac last week at the “HSM 2″ premiere, he assured us it was something he wanted to do, “A third movie would be a dream come true. Finishing “High School Musical” with a third movie, that would be in theaters, is just sort of a tribute to everything we kind of did here.”

At the same premiere, Vanessa told Access Hollywood she had not seen a script yet, but “If it’s good of course we are all going to join back in We all have so much fun together. So, why wouldn’t we do another one?”

Access Hollywood has confirmed today with their reps that both Zac and Vanessa are still in talks to do the third movie.

Walt Disney Studios today released the following statement; “There is no contractual obligation for any of the cast members to return. That said, we are in active negotiations with all of the principle cast members and are feeling optimistic.”

Back in February, Disney announced plans for a 2008 feature film sequel with a Halloween themed dubbed “Haunted High School Musical.” Today Disney says they have scrapped plans for the Halloween theme and instead will focus on the senior year of key characters at East High. The original writer from the first two films, Peter Barsocchini, is writing the script. The original producers and director are also on board.

Director Kenny Ortega confirmed to Access Hollywood last week that he is definitely on board too.

Well, what do you think? I just wish they will get into a compromise and the two do the big screen version of HSM.

We’re all in this together, remember?

1. If the officer makes a single mistake on your ticket, the case is dropped.
2. If the officer doesn’t show up in court, you automatically win.
3. Red cars get more tickets.
4. You need a lawyer to beat a ticket.
5. If you get a ticket in another state, your home state won’t find out about it.
6. You can make up an excuse to get out of the ticket.
7. A radar detector will ensure that you never get pulled over.
8. If you don’t sign the ticket, it will be dismissed.

Now we all know these are just myths.

So come on, buy that red car now and don’t be afraid you will more tickets than, say, a violet car! Hahaha

What fun list!

Attention, clockwatchers: Janeane Garofalo will now be punching a 24 timecard. YEY!

The über-liberal actress has signed on for the seventh season of Fox’s conservative-leaning, clock-ticking drama, according to published reports.

Per the Hollywood Reporter, Garofalo will play a government agent investigating the latest crisis befalling Jack Bauer (Kiefer Sutherland) & Co.

Her presence on the set could make for an interesting back and forth with series cocreator and executive producer Joel Surnow, who has jokingly described himself as a “right-wing nut job.”

The comedian and activist is the second major addition to the 24 cast in recent weeks, following last month’s casting of Tony winner Cherry Jones as the series’ commander in chief.

Garofalo’s most recent small-screen stint was a recurring role as controversial campaign adviser Louise Thornton on the final season of NBC’s West Wing.

Up until July 2006, she served alongside Sam Seder as a cohost of The Majority Report on Air America Radio but resigned after her relationship with Seder grew strained.

The outspoken thesp will have some time to get used to the idea of her latest gig before stepping in front of the cameras.

Production on the upcoming season of 24 was recently delayed a second time to allow writers the chance to flesh out the story arc.

Shooting is now due to commence on Sept. 10.

It’s often said that the trip to work can kill you. But if you live in Houston, what really takes a beating is your wallet. There, the average commuter spends 20.9% of his annual household costs on getting to work. He’s not alone. Cleveland, Detroit, Tampa, Fla., Kansas City, Mo., and Cincinnati also landed on our list of the country’s biggest cities where transportation eats up a fifth or more of household costs, according to a study by the Surface Transportation Policy Partnership (STPP), a nonprofit research firm, which draws on 2003 Bureau of Labor Statistics data, the most recent available. The study looked at annual transit costs such as gas and tolls, and public transit fare, as well as money spent on car payments and maintenance.

Robert Puentes, a metropolitan policy fellow at the Brookings Institution in Washington, D.C., says, “In Houston, the cost of transportation is the No. 1 household expense, above shelter.”

But that’s in part because Houstonians spend a lower than average proportion of their take-home pay on housing.

And that’s the trade-off.

The percent of household income Houstonians spend on transportation may be the highest in the country, but when combined with the amount residents spend on housing expenses, Houston’s aggregate cost ranks them 14th, with the composite cost equaling 52% of household income.

Transit costs are high because Houston has few policies hindering sprawl, which in turn allows for cheaper housing. In San Francisco, which is much more dense and has more prohibitive zoning laws than Houston, residents rank 22nd in commute costs but fifth in the combination of housing and transportation.

Worst hit by the composite ranking were the residents of Tampa and Miami where housing and transportation costs were the most out of sync with the average household’s income levels. Tampa residents spent 57.7%, while Miami denizens spent 57.5% of their take home pay on the two.