It's been a pretty crazy week for me and my wife. The joys of home-ownership started quickly as a one of the main branch roots for a tree at the new house busted out water line. When I got home I dug out the water line where the leak was coming from and there were some pretty squirrely things going on. There ended up being 5 PVC pipes all on top of each other and of course the bottom one was the one that was broken. Long story short I ended up having to get a plumber out there because just repairing the broken area wasn't going to solve the problem of the tree being the "root" cause. Get it? Root cause? So the plumber came out and we got everything lined up for a trench to be dug and a new water line run. It's a flex pipe, I think it was PEX, and based on what he had said about it it seems to be really good. So the new water line is now away from tree roots and shouldn't have any issues. But I'm still curious what's going on with the other 4 pipes. When they had dug the new trench and I went and looked in to see if those pipes were running to the water main. And they weren't, they didn't even go straight to the box and you could see that they ran past the meter box. They're too small and too close to the water line to be sewage so I really have no idea what's going on with those. All the more reason I want to design my own house and be there for construction. There's so many hidden things when you purchase a house that's already been built.
Other than the fun of the first plumbing issue, it was fairly relaxing but I did have to head back to work. In portfolio news, I added to my IBM position by purchasing 11 more shares and sold a put option on Cisco. Fairly light in the portfolio update department. I'm sitting on a decent amount of capital right now, but the opportunities are few and far between so I'll just sit and wait for better values and possibly more option plays.
I also stumbled across this article on Yahoo! Finance talking about athlete IPOs. The new company, Fantex is about to issue the first athlete IPO on Houston Texans RB Arian Foster. They gave Foster $10 million up front in exchange for 20% of his future earnings. The rights to that 20% will then be split into shares and they will run an exchange where you can buy and sell ownership stakes to earnings streams of your favorite athletes. Obviously there's moral/ethical issues at play, but it's always interesting to see what some people will come up with to try and make a buck. If more athletes get on board, this would take fantasy football to a whole new level. I won't ever participate but I wouldn't mind getting a piece of Andrew Luck's future earnings stream. If celebrities join in on the fun, I'd be shorting Miley, if I was in to that sort of thing. Hypothetically, what athlete/celebrity would you want to have an ownership claim to? And what amount of up front cash would you need to give away 20% of your income every year? Assuming this is just income from using you or your likeness, not investment income.
I just want to say thanks to everyone that has stopped by, commented and shared Passive-Income-Pursuit over the past weeks. Thank you so much for joining in the conversation and if there's anything you'd like to see me cover here, please let me know. Now on to the links.
How to travel for free: 4 cities in 8 days by I Heart Budgets
My retirement strategy for tax-free income by Dividend Growth Investor
Here's proof that starting that starting a blog helps you build fruit-bearing relationships by Young, Cheap Living
The mission of Dividend Growth Stock Investing by Dividend Growth Stock Investing
A balanced portfolio (own it ALL!) by FI Fighter
Three reasons I enjoy watching stocks I own decline in price by Dividend Mantra
Recent buy - Kinder Morgan, Inc (KMI) by Captain Dividend
You need five dividend investments that will be untouchable your entire life by The Conservative Income Investor
CSX: DRIP Investment Intitated by Retire Before Dad
Dividend Growth - The only metric that matters by The Dividend Guy
I hope everyone has a great weekend! Enjoy the cooler weather.