Warren Buffett Becomes Arnold Schwarzenegger's Ecomonic Advisor

Warren Buffett is one of the richest men in the world and many consider him the greatest stock market investor of all-time. Buffet has made his fortune while living in Omaha, Nebraska. Arnold Schwarzenegger (body-builder turned actor turned rich man turned politician) has hired Buffett to provide economic advisement. One of Buffett's first public comments was that California's property taxes are too low and this is bacause of Proposition 13 that was passed by the California government back in 1978. Any politician that claims Proposition 13 sucks is an automatic loser; therefore, Arnold had to make it clear that his support for the proposition has not -- and will not -- wane. During a Schwarzenegger press conference on 20 August 2003, Arnold was quoted saying: "I told Warren that if he mentions Proposition 13 one more time, he has to do 500 sit-ups."

Internet Security Systems (ISSX) [BUY report]

I had to buy some ISSX after writing about computer security issues.

   BOUGHT   INTERNET SEC SYS INC   ISSX  11.28   11:47:05 AM   08/19/03
   ISSX Buys
   ---------
   11.28... 08/14/2003
   10.03... 03/31/2003
   11.63... 03/04/2003

   average cost per share increased to $11.25 from $11.19
Wireless Facilities (WFII) [SELL report]
Wireless Facilities is doing fine (the stock made a new 52-week high today), but it was time to take some profit by selling 20% of our holdings.
   SOLD     WIRELESS FACS INC      WFII  14.19   01:56:35 PM   08/19/03

   average cost per share reduced to $2.44 from $4.76
Firstwave Technology (FSTW) [Attempted Buy/BUY]

After the open on the day after Blackout 2003, FSTW fell 5% so I put in a small limit order to buy 100 shares at $6.75, I switched the order to $6.90 and ended the last 30 minutes of the day bidding $7.10. No stock was purchased. Trading volume for the day was 7,360 shares. The stock closed yesterday at $7.10, it fell to $6.70 and closed the day up a penny at $7.11.

   BOUGHT   FIRSTWAVE TECH         FSTW   6.90   10:11:24 AM   08/21/03