Tag Archives: Wall Street Journal

Costly FAA drone regulations exclude media usage

2015-02-15-103736_1366x768_scrotAfter nearly four years of delay, the FAA is poised to release regulations for the commercial use of unmanned aircraft systems (UAS/drone). A document, that could be a draft of the proposed regulations, was spotted on a federal website on Friday by a drone user and downloaded before being removed from the website, according to the Wall Street Journalhost. Forbes reports, “The document is dated February 2015 and is captioned ‘Notice of Proposed Rulemaking Regulatory Evaluation, Small Unmanned Aircraft Systems’ authored by George Thurston of the Office of Aviation Policy and Plans, Economic Analysis Division. But, it’s possible this is a leaked early draft that has since been revised or is otherwise incomplete or inaccurate.” see more…

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Ron Paul wins inflation bet, makes estimated $300K in one day

Buried at the end of this Nasdaq.com hosted Benzinga article on Ron Paul’s winning stock strategy is the announcement that he may have made a cool $300,000 on Friday, when the rest of the market was running for the exits. Incidentally, this is the most liked article of the day (110 votes and counting), in stark contrast to the second closest article about Apple, which has a mere nine likes.

Given the “max value” of each position and holding it constant to today’s prices, Paul’s portfolio submitted to the Office of the Clerks was potentially worth over $3.5 million. With massive increase in gold prices, gold and silver mining stocks and funds have been performing very well today.

According to the stocks and funds Paul owned back in 2010, his dollar-weighted return today is 7.11%. Increasing his portfolio from yesterday’s close of about $3.5 million to over $3.8 million today. Currently, the S&P 500 is down 1.9%. So, Ron Paul’s portfolio is outperforming the S&P 500 by over 9.0% today.

For the sake of perspective, the most recent “Rise for Liberty” money bomb that began on May 17th managed to net $750K over the course of several days.

An article covering Paul’s portfolio was posted over at The Wall Street Journal last December, where an expert gave a great quotable:

At our request, William Bernstein, an investment manager at Efficient Portfolio Advisors in Eastford, Conn., reviewed Rep. Paul’s portfolio as set out in the annual disclosure statement. Mr. Bernstein says he has never seen such an extreme bet on economic catastrophe. ”This portfolio is a half-step away from a cellar-full of canned goods and nine-millimeter rounds,” he says.

There are many possible doomsday scenarios for the U.S. economy and financial markets, explains Mr. Bernstein, and Rep. Paul’s portfolio protects against only one of them: unexpected inflation accompanied by a collapse in the value of the dollar. If deflation (to name one other possibility) occurs instead, “this portfolio is at great risk” because of its lack of bonds and high exposure to gold.

Unexpected? Huh.

Mitt Romney may have clenched the Republican Party presidential nomination and now spreads platitudes, but when the curtain closes on who truly understood monetary issues in 2012, it’s going to be Ron Paul who is (once again) in the position of simply being able to point to his record and say “I told you so.”