I came across three pretty awesome stories in the news recently. Two today, and one that I've just been meaning to blog about for a week or so…
- The Monte Carlo is on Fire!
The MGM owned Monte Carlo caught on fire on its roof today around 11pm. That in itself is pretty interesting news, as the cause of the fire is yet to be determined. Even more interesting, however, is this article, that claims shares of MGM stock fell immediately after the fire was reported. This really intrigues me because of a story my accounting professor told during college that I have never forgotten. Check out this article I wrote over a year ago about it. To quote:
My professor told a story about a guy staying in a hotel in Las Vegas. He was in his room on the 20th floor, and noticed that the building had caught fire near the ground level. Before running for the stairs, he grabbed his laptop and quickly logged on to his broker’s website, and sold all the shares he owned in the hotel. It turned out that the stock value plummeted minutes after the fire was all over the news. True or not, the lesson of the story is that the market reacts almost instantly to any and all changes. What does this teach you? Learn to react with it and you will stay ahead of the game.
Check out this article that proves that the story was true! I never realized that the market was so volatile – that it could react in an instant…but obviously it can! That amazes me.
- On another interesting side note, check out this farmer who built a castle for 4 years and hid the entire thing under bales of hay. All to get around some zoning law that says if a structure is built and not disputed for 4 years then it can be legally zoned. Crazy Bastard.
- Finally – The Baldy Pipe. Evan found this article about some old skool skaters from Upland that were the original Badlands crew who rode the pipe. When I was growing up, we used to go to the mountains right behind my parents house and ride the Baldy pipe. Used to have to jump a couple fences, go through a series of storm drain tunnels, climb up a rope ladder, and that would put you at the base of the Pipe. It was a runoff from the Mt. Baldy dam at the foot of the mountains. We would bring some tunes, set up camp and hike up to the top of the pipe, then mob down as fast as we could – when you picked up speed you could carve insanely high on those smooth walls, I remember hitting 3/4 of the way up! You also ran the risk of bailing pretty hard when you came down and hit one of the random rocks lying on the floor of the tunnel. To this day, our names still are tagged on that wall.