As a country we have almost lost the ability to do long range planning and even more importantly work a long range plan.

Where they can be found is NO secret and the bank will take the strongest offer.There are thousands of REO properties to be found, that are under perceived "market value," however in CA "market value" is very subjective.Most REO transactions take longer to close than a traditional transactions and there are obstacles to overcome, even in the best case scenario.I have represented many clients, in which an REO property LOST value during the transaction period.Where I do see an investing opportunity is as follows:Best case, look for a short sale in which the inventory is stale and the bank wants the property off the books.

We just got some minor wind damage and lost power for 4 1/2 days.

You lost money on your investment, you are supposed to "take the hit".

LTCM was a beta house and that is how the lost their money, they had loads of money in correlation trades especially in the bond areas, not pure arbitrage.The Goldman Fund that melted down recently was another example of a Beta fund, tracking correlations between obsure unrelated securities.

Labor needs to be treated as an expense and not necessarily viewed as lost profit to the other partner.

I almost lost the deal.

Just ran across a great app for my Droid called Lookout. It will:

1. LOCATE: Activate my gps and locate my phone within meters on a google map from an internet connected PC

2. SCREAM: Turn on a loud and flashing...

But full disclosure...I have lost more than a couple deals over a small amount.

Think of it this way -- if they were to move out, you'd lose a lot more than the cost of carpet cleaning to have to get it ready for another tenant (plus lost rent).