Tuesday, August 30, 2005

Hurricane katrina: profits on the horizon?

It is hard to imagine the devastation of entire cities, but for centuries this is nothing new. My thoughts are with the people that are suffering, but I know that life will go on for these people. I was watching Mad Money with Jim Cramer yesterday and boy that guy only sees money. Which in business I guess is key. In your private life you can care and have compassion but in the business world, you can only care about profits, loses and legalities that may affect either.

This got me to thinking. As a real estate investor, can you imagine the damage that has been done to properties? Now, using the Mad Money mentality, can you imagine the awesome deals that are to be had in the region? Profiting off of other people's misery may be very cruel, but when you think in black and red, you can see opportunities clearly.

Lastly, I am so tired of the media's sensationalism when it comes to reporting money. " The government is spending 30 billion for this" " The hurricane damage may be $25 billion for this" I wish they would stop with such misleading reporting. The Wynn Casino in Las Vegas cost well over 3 billion to build and that is one building. You must think to yourself, billion is slowly becoming the new million. Stop telling yourself, if I only made a million I would.... Think bigger than your mind constrains you.


Jay's Financial Blog said...

I really like the last paragraph...and I would agree that a million dollars isn't that much anymore that a billion is the new bench mark of wealth.

Would it be okay if I take an excerpt of that articles and post it on my blog with a link back to your site?

El Train said...

by all means please

The Dividend Guy said...

The media is ridiculous...the coverage on gas prices is awful. Up in Calgary, they are basically scaring the crap out of people by sending messages that gas is going to go up 20 cents because of the hurricane. They have no idea - it is just an idea they heard from some "expert" and the just latched on to it. Drives me nuts.

P.S. Thanks for commenting on my blog. I have gone through yours and will be adding it as a link on mine. Very interesting.