Search found 2015 matches

by HardKnocker
Thu May 14, 2015 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Conundrum: Can do my own books but banks require CPA statement
Replies: 23
Views: 4950

Re: Conundrum: Can do my own books but banks require CPA statement

Banks will often accept unaudited financial statements compiled by a CPA. They may want to meet with the CPA.

They won't accept your "homemade" financials because they most likely don't comply with accepted accounting principles. In other words, you don't know what you're doing but the CPA does.

Depending on what kind of collateral and income your business generates, unless it has substantial amounts of both, any loan made to you will probably have be secured by you personally.
by HardKnocker
Sat May 09, 2015 10:07 am
Forum: Personal Investments
Topic: move to cash for upcoming bear market?
Replies: 68
Views: 14948

Re: move to cash for upcoming bear market?

"Don't just do something, stand there!" -- John Bogle
by HardKnocker
Thu May 07, 2015 2:42 pm
Forum: Personal Consumer Issues
Topic: Viatical Settlement For Life Insurance Policy
Replies: 4
Views: 992

Re: Viatical Settlement For Life Insurance Policy

Generally, they are a bad idea. Similar to a reverse mortgage.

You take a big hit on the discounted proceeds.
by HardKnocker
Thu May 07, 2015 2:39 pm
Forum: Personal Consumer Issues
Topic: What to do with 1940's refrigerator that still works?
Replies: 37
Views: 28607

Re: What to do with 1940's refrigerator that still works?

Old fridges are so inefficient there is no point to having them.
by HardKnocker
Thu May 07, 2015 2:36 pm
Forum: Personal Consumer Issues
Topic: buying a new subaru outback
Replies: 25
Views: 9376

Re: buying a new subaru outback

I'd pay cash if it won't cramp your style.

It would be hard to get 2% guaranteed.

I have two Outbacks. They are decent cars with some good features, some odd features missing. I don't like the rattles though. I call them "rattle-traps".

Not sure I'd buy another but I like wagons.
by HardKnocker
Thu May 07, 2015 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: Do Updates to Home Increase Market Value?
Replies: 32
Views: 5124

Re: Do Updates to Home Increase Market Value?

Some updates make help your home sell faster.

Do you get more? Rarely.

What's the difference between a 5 year old kitchen, a 10 year old kitchen, and a 20 year old kitchen, all in good condition?

Not much. They all look dated.

How about the brand new kitchen you just did?

Only helps if the buyer likes your style.
by HardKnocker
Thu May 07, 2015 2:31 pm
Forum: Investing - Theory, News & General
Topic: Fed Chair Yellen Warns on Stock Valuations
Replies: 22
Views: 5499

Re: Fed Chair Yellen Warns on Stock Valuations

Yellen is correct in her statement.

Valuations are high.
by HardKnocker
Wed May 06, 2015 1:51 pm
Forum: Investing - Theory, News & General
Topic: Vanguard: The Problem of World Domination?
Replies: 21
Views: 4443

Re: Vanguard: The Problem of World Domination?

Warren Buffet will take over the world long before Vanguard does.

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by HardKnocker
Mon Apr 27, 2015 6:51 am
Forum: Personal Consumer Issues
Topic: Been invited to wedding in Disney World. My cost?
Replies: 58
Views: 27154

Re: Been invited to wedding in Disney World. My cost?

Send him $(Fill in amount to your preference) and skip the wedding.

Everyone will be drunk and won't even know who attended.
by HardKnocker
Sun Apr 26, 2015 11:41 am
Forum: Personal Consumer Issues
Topic: Will you buy an Apple Watch?
Replies: 456
Views: 80059

Re: Will you buy an Apple Watch?

"Will you buy an Apple Watch?"

No, I don't have a cellphone either.

I have a watch already but rarely wear it.

If I need the time I ask someone and they look at their cellphone and tell me.
by HardKnocker
Sun Apr 26, 2015 11:37 am
Forum: Personal Consumer Issues
Topic: Cost to replace a side view mirror
Replies: 22
Views: 59097

Re: Cost to replace a side view mirror

This just happened to a relative of mine.

$500 for a body shop repair to Ford Fiesta.

Yikes!
by HardKnocker
Sat Apr 25, 2015 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: any experiences negotiating fences with neighbors?
Replies: 27
Views: 8880

Re: any experiences negotiating fences with neighbors?

I don't get this whole thing about fences.

If the fence is on your property, you make the decisions and pay for it.

If the fence is on your neighbors property, he makes the decisions and pays for it.

Why would you pay for a fence on someone else's property and vice-versa? Shouldn't fences be built within property boundaries?
by HardKnocker
Sat Apr 25, 2015 1:37 pm
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 11037
Views: 2066391

Re: What Movie Have You Recently Watched?

Barefootgirl wrote:I enjoyed The Imitation Games, but found it interesting that it was billed as film about the advent of the computer age, when actually to me, it seemed to be more a statement about living in the shadows due to ones' sexual orientation.

BFG
Just watched it. A very good movie.

The blurb across the screen at the end about homosexuality kind of threw me. It was an unnecessary attempt to politicize the movie.
by HardKnocker
Fri Apr 24, 2015 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: [How do I lead a discussion about saving for retirement?]
Replies: 38
Views: 6462

Re: 1/3 of those SAVING for retirement have less than $1000

Fixed:

"1/3 of those not SAVING for retirement have less than $1000"
by HardKnocker
Fri Apr 24, 2015 8:12 am
Forum: Investing - Theory, News & General
Topic: What is too long to stay the course?
Replies: 50
Views: 7233

Re: What is too long to stay the course?

Professor Emeritus wrote:
HardKnocker wrote:The Captain of the Titanic stayed on course too long.
:happy I will simply repeat that "stay the course" is a horse racing not a maritime term :happy

viewtopic.php?f=10&t=130693#p1924995
It's rumored Nelson said this at Trafalgar:

"Stay the course and damn the torpedoes! Full speed ahead!"
by HardKnocker
Fri Apr 24, 2015 6:56 am
Forum: Personal Finance (Not Investing)
Topic: 2 million dollar mistake meeting with MIL's financial guy
Replies: 47
Views: 17160

Re: 2 million dollar mistake meeting with MIL's financial gu

The letters "CLU" after an advisor's name are a red flag.

Run! Run as far and as fast as you can!
by HardKnocker
Fri Apr 24, 2015 6:54 am
Forum: Personal Investments
Topic: Real Estate Investing Concept
Replies: 7
Views: 1294

Re: Real Estate Investing Concept

Have read a wealth of information on real estate investing, but not much that is particular to my situation. Thought I might ask here. Assume you're earning a high income, and maxing out all retirement vehicles each year, plus a lot in taxable accounts, with no debt. Wise idea to max out my personal and business lines of credit to buy rental homes? Essentially throw myself in to massive "debt", in hopes that the monthly income will pay the notes to at least break even and one day own all outright? Say 1 100-200k rental home to start, adding as many as my lines of credit will allow quickly over time? Any personal and business tax advantages to this as well? Goal would be to outright own them with the renter paying the notes of cou...
by HardKnocker
Fri Apr 24, 2015 6:53 am
Forum: Investing - Theory, News & General
Topic: What is too long to stay the course?
Replies: 50
Views: 7233

Re: What is too long to stay the course?

The Captain of the Titanic stayed on course too long.

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by HardKnocker
Thu Apr 23, 2015 8:16 am
Forum: Personal Finance (Not Investing)
Topic: How much do you pay in Property Taxes?
Replies: 188
Views: 25885

Re: How much do you pay in Property Taxes?

Real estate taxes in NJ are high but there are lots of potholes to fill. Fixing all those potholes is expensive!

And paying all the bribes and payola. That's not cheap.
by HardKnocker
Thu Apr 23, 2015 7:57 am
Forum: Investing - Theory, News & General
Topic: Bernstein: A Decade of Super-Low Returns [1.4% for 60/40]
Replies: 232
Views: 36161

Re: Bernstein: A Decade of Super-Low Returns [1.4% for 60/40

These books make for good reading.

After reading please deposit in nearest recycling container. If a recycling container is not available place in trash.

Please don't litter.
by HardKnocker
Thu Apr 23, 2015 7:27 am
Forum: Personal Consumer Issues
Topic: Blacktop Driveway Sealing
Replies: 20
Views: 5807

Re: Blacktop Driveway Sealing

It depends on how big the driveway is. How big is the driveway? My driveway is about 15 feet wide by 40 feet. I do mine myself and use about four 5 gallon containers of good quality sealer from Home Depot. The sealer is about $30 a container. I buy a bottle of crack filler for about $8. So it costs me about $130 in materials plus a broom/squeegee for another $10 that I have used for several years. It takes me a hour or two. I do it every other year. Every year is too often. I've heard quotes of around $300 for a company to do mine. They use a hot sealer. I don't like the quality of their sealer. It is very thin. Sealing a driveway helps to keep water from getting into the blacktop and freezing in cold weather or just causing problems. It wo...
by HardKnocker
Wed Apr 22, 2015 6:42 am
Forum: Personal Finance (Not Investing)
Topic: $6 billion of 401(k) loan defaults each year
Replies: 9
Views: 2349

Re: $6 billion of 401(k) loan defaults each year

There can be good reasons to borrow from a 401k but generally it is a poor financial decision.

Using 401k funds or home equity to finance consumer purchases is very bad. I have acquaintances who have done this repeatedly.
by HardKnocker
Wed Apr 22, 2015 6:32 am
Forum: Personal Consumer Issues
Topic: New Furnace & A/C Unit
Replies: 37
Views: 12130

Re: New Furnace & A/C Unit

The new units can be tremendously more efficient than the older units. Of course it depends on what the efficiency of your current units are.

Still, it will be quite awhile before you get your "payback" on a new installation.

From a money standpoint it rarely makes sense to replace if the current unit is working properly.

It's a great idea to explore and get quotes for a new unit before you need it. Maybe you can find a really good deal from an installer. Since you are not in an emergency situation you can take your time and really research your options.
by HardKnocker
Wed Apr 22, 2015 6:28 am
Forum: Personal Finance (Not Investing)
Topic: Potential new home is well-priced, but...
Replies: 31
Views: 4455

Re: Potential new home is well-priced, but...

I'd think twice before buying this home.

You have to be all in. If you can't afford the upkeep to maintain the home then you will indeed lose the "vibe' the home has.

Buying the home is just the first step. Maintaining the home over the long haul is another.
by HardKnocker
Mon Apr 20, 2015 8:56 pm
Forum: Personal Investments
Topic: Newly Married - Both 28 - NYC residents - How are we doing?
Replies: 26
Views: 4163

Re: Newly Married - Both 28 - NYC residents - How are we doi

defscott627 wrote:
yieldway17 wrote:
53% of our cash earns 2.5% interest in our credit union checking accounts
If not a problem, can you say which credit union you are using? I'm piqued by the 2.5% interest rate as my emergency fund is currently earning nothing with BoA savings. I'm in NYC area as well.
Using NEFCU - Nassau Educators Federal Credit Union. You need to either live in Nassau County or work there (I am a teacher in Long Island). We use the Go-Green Checking Account and have two of them (one for each of us). They change the interest all the time - it used to be 4.5% when I started 5 years ago. It's since gone down to a three-tier program so it depends on what tier you are.
I just checked the NEFCU website and they do pay rates like this. Very good for you!
by HardKnocker
Mon Apr 20, 2015 8:46 pm
Forum: Personal Consumer Issues
Topic: Need advice for buying a blu ray player
Replies: 15
Views: 2123

Re: Need advice for buying a blu ray player

I recently bought a Fuji Blu-Ray player at WalMart for $35.

It works well.

I have a refurbished PC connected to my TV too so I can access the web.

The refurb PC was about $100.
by HardKnocker
Mon Apr 20, 2015 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for GFs school - any way to help myself?
Replies: 76
Views: 16309

Re: Paying for GFs school - any way to help myself?

Andyrunner wrote:
mrehal wrote:
chessmannextmove wrote:
AZAttorney11 wrote:Why are you doing this?
I second this motion.
Third. Wife, even fiancee is one thing. Girlfriend is another. It's your money and you can do what you want, just be smart about it.
4x

Its your relationship and not sure how long you have been with her, but make sure she doesn't dump you the day she graduates. If your married, this is a whole different story.
One more time!

You are being a sugar daddy.
by HardKnocker
Mon Apr 20, 2015 9:28 am
Forum: Personal Investments
Topic: Stocks are on sale, should I buy?
Replies: 54
Views: 10182

Re: Stocks are on sale, should I buy?

I will rely on the old standby of 15 times earnings as an approximate measure of a fairly priced market.

The dollar-cost-average investor, which most Bogelheads are, would not be concerned with this.

Those who would advise a lump sum investment of 100% of their funds to the Total Stock Market Index at 50 times earnings please raise their hands.
by HardKnocker
Mon Apr 20, 2015 8:05 am
Forum: Personal Investments
Topic: Stocks are on sale, should I buy?
Replies: 54
Views: 10182

Re: Stocks are on sale, should I buy?

The market is overpriced at this time. Not on sale. Of course it can still go higher. The market is priced at exactly the value that those with capital believe it is worth. This is the mantra to remind yourself. It is not overpriced or underpriced. Can liquidity, earnings or other economic changes cause future valuations to rise or fall? Of course! However, those who claim that a previous market PE proves that current valuations are high or low is not understanding the fundamentals behind Bogleheadism. Oh you silly, do you think "Bogelheadism" is a religion? Have faith my child and all will be well! True believers will inherit the Kingdom! "To be a true Bogelhead". What is that all about? Is it a cult you join? Of cours...
by HardKnocker
Sun Apr 19, 2015 9:37 am
Forum: Personal Investments
Topic: Stocks are on sale, should I buy?
Replies: 54
Views: 10182

Re: Stocks are on sale, should I buy?

The market is overpriced at this time.

Not on sale.

Of course it can still go higher.
by HardKnocker
Mon Apr 13, 2015 8:34 pm
Forum: Personal Consumer Issues
Topic: Kitchen upgrade - granite selection help
Replies: 52
Views: 8158

Re: Kitchen upgrade - granite selection help

I don't know if anyone mentioned this but some granite countertops are quite radioactive.

You might want to check out selection if you can.
by HardKnocker
Mon Apr 13, 2015 8:18 pm
Forum: Personal Consumer Issues
Topic: Neighbor hired a surveyor. Should I be nervous?
Replies: 81
Views: 39995

Re: Neighbor hired a surveyor. Should I be nervous?

Most people get a new survey when they buy the house. Perhaps when that survey was done, the surveyor didn't put in boundary stakes.

They sometimes charge more to put in stakes. He may have called the surveyor back to just clear up where his property line is and find out who owns the fence.

It always amazes me that people are afraid to talk to their neighbors. Why not ask the guy why he had stakes put in?
by HardKnocker
Mon Apr 13, 2015 7:55 pm
Forum: Personal Consumer Issues
Topic: Neighbor hired a surveyor. Should I be nervous?
Replies: 81
Views: 39995

Re: Neighbor hired a surveyor. Should I be nervous?

The other day, I saw a surveyor working in my neighbor's yard before I left for work. When I got home, I saw that the surveyor had hammered in wooden stakes into what I had thought was my yard. The stakes have written "property line" on them. There is a wooden fence separating my neighbor's property from my property. These stakes from the surveyor are actually driven in on my side of the property about 12 inches from the fence. My neighbor moved in earlier this year and I really haven't gotten to know him yet. The fence between our properties was installed about a year ago (before this new neighbor had purchased the home.) My previous neighbor and I shared the expense. We did not use a surveyor - we just replaced a very old fence...
by HardKnocker
Mon Apr 13, 2015 7:10 pm
Forum: Personal Consumer Issues
Topic: Price for new furnance & AC unit
Replies: 21
Views: 26007

Re: Price for new furnance & AC unit

I think Goodman makes a good unit.

A Lennox is not 2x as good as a Goodman. That is a ridiculous statement.

I couldn't buy a Goodman unit myself to have it installed. And when I priced it out with an installer it was the same price as a major brand unit.

You can find bad reviews about any furnaces on the market. They all have some bum units.

I went with a Carrier certified installer because I got a really good deal. Carrier makes a good unit but they are not failure-proof.
by HardKnocker
Sun Apr 12, 2015 3:37 pm
Forum: Personal Consumer Issues
Topic: Unsolicited offers to buy your house
Replies: 14
Views: 4291

Re: Unsolicited offers to buy your house

I'm wondering if unsolicited offers to buy your house have become pervasive nationwide in the US. In my small sample of mostly western US cities, several people I've talked to are also getting a fair number of these "I will buy your home as-is" letters in the mail. The letters I've received all have a similar format: You don't need to do any repairs, I will give you a fair price, pay all closing costs, and I will work around your timeline. Some of the offers are probably legitimate house fixer-uppers (house flippers), and some are probably scams to case your home's contents and security. In thinking about the legitimate cases, how would you go about assessing how fair the offer is? The offer would have to be less than market valu...
by HardKnocker
Sat Apr 11, 2015 11:15 am
Forum: Personal Finance (Not Investing)
Topic: What is Sammy Savers net worth?
Replies: 41
Views: 5898

Re: What is Sammy Savers net worth?

Zero. Sammy came home early from golf on Sunday and found wife Sandy in bed with his brother Steve. Sammy was heart broken because he and Sandy had been childhood sweethearts and married after high school. Sammy always looked up to Steve as a kid. You see, Sammy and Steve's dad liked to drink and made his son's watch soccer on tv while drunk and Sammy HATED soccer. Sammy's dad would make him play goal keeper and kick soccer balls at him. Sandy was a cheerleader, the prettiest one in school. She would cheer so loudly for the Smurfs (their highschool mascot) and all the boys would chase after her. But Sammy is the one she let catch her. He called her his little Smurfette (all you kids ask your parents what Smurfs are). They were a happy coup...
by HardKnocker
Sat Apr 11, 2015 11:14 am
Forum: Personal Finance (Not Investing)
Topic: What is Sammy Savers net worth?
Replies: 41
Views: 5898

Re: What is Sammy Savers net worth?

$1,250,000
by HardKnocker
Sat Apr 11, 2015 7:14 am
Forum: Personal Consumer Issues
Topic: Price for new furnance & AC unit
Replies: 21
Views: 26007

Re: Price for new furnance & AC unit

victorb wrote:I talked to a Lennox dealer at a Costco today. A 95% efficient furnace with a 2 ton AC unit SEER 16 was in the $6500-$7000 range after about $900 in rebates from the local gas & electrical utility. I just started looking, but this seems a bit high to me. Any advice on how to approach this would be appreciated.
That price sounds reasonable to me. 2 times the cost of the unit is the going rate. This would put the cost of the units at $3250-$3500 for both the furnace and AC. Not unreasonable at all.

The real question is whether you want a Lennox brand unit or not and if the installer is reputable and will do a good job.
by HardKnocker
Thu Apr 09, 2015 10:06 am
Forum: Personal Consumer Issues
Topic: Tree roots growing into sewer lines
Replies: 62
Views: 20894

Re: Tree roots growing into sewer lines

It's often best to consider the least invasive/drastic/expensive options first.
by HardKnocker
Thu Apr 09, 2015 9:56 am
Forum: Personal Consumer Issues
Topic: Tree roots growing into sewer lines
Replies: 62
Views: 20894

Re: Tree roots growing into sewer lines

$190/hr does seem like a lot but remember the guy has his truck, equipment & tools (which break and have to be replaced. A good pro power auger is quite expensive). Transport to and from the job. Wages, benefits, insurance, licenses, permits, etc.

Not too mention it is an unpleasant job quite often performed in cramped, dirty and vile locations.
by HardKnocker
Thu Apr 09, 2015 9:19 am
Forum: Personal Consumer Issues
Topic: Tree roots growing into sewer lines
Replies: 62
Views: 20894

Re: Tree roots growing into sewer lines

Two possible solutions: 1) Have the line reamed out professionally. Not cheap. Roto-Rooter in my area charges $400 minimum. You can do it yourself with a rented power auger for $50 for 4 hours from Home Depot. You can get augers with 100 foot snakes. You need to access the line somehow. Can you access it be removing the toilet and running the auger down the drain hole? Through an access in the main drain stack in the basement? I had the same problem and did it myself via the toilet drain hole in the downstairs powder room which led directly to the main drain. I am pretty handy and not afraid of getting my hands in toilets and sewer lines. 2) You can try a chemical root killer/dis-solver down your toilet. You can buy them at Walmart in the p...
by HardKnocker
Thu Apr 09, 2015 9:09 am
Forum: Personal Consumer Issues
Topic: Poll: What is the credit limit of your credit card?
Replies: 56
Views: 9987

Re: Poll: What is the credit limit of your credit card?

$40,000+

In the perverse logic of banking, give large amounts of credit to those who do not need it.
by HardKnocker
Mon Sep 22, 2014 11:03 am
Forum: Personal Consumer Issues
Topic: Basketball systems: In Ground or Portable?
Replies: 16
Views: 4241

Re: Basketball systems: In Ground or Portable?

airahcaz wrote:
HardKnocker wrote:Years ago I installed a permanent post and backboard.

If I did it again I'd go with the portable setup.
Ok. Excellent feedback. Tell me why please?! :)
Sooner or later all basketball hoops are abandoned. With a portable you just put it to the curb or give it away.
by HardKnocker
Sun Sep 21, 2014 5:24 pm
Forum: Personal Investments
Topic: Trusting our advisor?
Replies: 25
Views: 4326

Re: Trusting our advisor?

You can't trust nobody.
by HardKnocker
Sun Sep 21, 2014 5:15 pm
Forum: Personal Investments
Topic: Critique my thoughts on Real Estate Investing
Replies: 17
Views: 2555

Re: Critique my thoughts on Real Estate Investing

I am currently considering investing approximately 30% of my portfolio into real estate. Most would be tangible, specifically duplexes (or some other multifamily residence) or inexpensive (sub $150k) single family homes. I would increase liquidity and diversification with some REIT holdings as well. I think this is prudent for the following reasons: 1) I am not currently invested in real estate and real estate is a very distinct asset class that is not closely correlated to other markets and would therefore add diversity to my portfolio. 2) I think that owning homes that have low mortgages could allow me to actually profit from a major economic collapse as people would be generally jettisoning the homes they could not afford to buy or rent...
by HardKnocker
Sun Sep 21, 2014 10:59 am
Forum: Personal Consumer Issues
Topic: Basketball systems: In Ground or Portable?
Replies: 16
Views: 4241

Re: Basketball systems: In Ground or Portable?

Years ago I installed a permanent post and backboard.

If I did it again I'd go with the portable setup.
by HardKnocker
Fri Sep 19, 2014 12:00 pm
Forum: Personal Investments
Topic: Investment Property
Replies: 10
Views: 1593

Re: Investment Property

I can't see how buying a new home for full market value would be a good investment unless the market is superhot or you hold the property for years and years. Otherwise you are stuck.

As long as they are still building out the development you will likely not be able to sell it for what you invested.

Circumstances can change and you might have to sell it before you plan too in 30 years.

In real estate you make money going in. Unless you can buy it at a big discount I vote NO on this.
by HardKnocker
Tue Sep 16, 2014 6:37 am
Forum: Personal Finance (Not Investing)
Topic: Any FRANCHISE owners here?
Replies: 30
Views: 12845

Re: Any FRANCHISE owners here?

Read this in an article recently: Dunkin' Donuts, in most areas, no longer makes the donuts in the stores. They are made in a central facility and shipped to the stores. Getting up at 3AM to make the donuts is in the past. I guess you get up to meet the delivery truck. Dunkin' Donuts is really in the beverage business (coffee, coolata, etc.) not the donut business. Most small businesses require you to work a lot. Having your own business in the early phases is not a 9 to 5 job. Running a Dunkin is like running a restaurant. A good idea would be to get a part-time job at an existing Dunkin' Donuts and check it out first-hand. In my area all the Dunkin' Donuts are owned by Indians (Asian). They keep adding locations. Two already in my town an...
by HardKnocker
Tue Sep 16, 2014 6:29 am
Forum: Personal Investments
Topic: Talk Me Off The Edge
Replies: 8
Views: 2586

Re: Talk Me Off The Edge

"C'mon on inside Mr. Betatracker. You have a lot to live for. Just come back inside off that ledge. Think of your family, Mr. Betatracker."

:wink:

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