The Deipnosophist

Where the science of investing becomes an art of living

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Location: Summerlin, Nevada, United States

A private investor for 20+ years, I manage private portfolios and write about investing. You can read my market musings on three different sites: 1) The Deipnosophist, dedicated to teaching the market's processes and mechanics; 2) Investment Poetry, a subscription site dedicated to real time investment recommendations; and 3) Seeking Alpha, a combination of the other two sites with a mix of reprints from this site and all-original content. See you here, there, or the other site!

23 July 2011

Think you will find a great deal at the Borders clearance sale?

Let me save you the trip.

I went yesterday (Friday) afternoon, in the bid to find some phenomenal prices. After all, this is no mere clearance sale, but an all-out liquidation. Borders (BGP) will soon be no more.

And while I prefer not to profit from another person's misery -- all those employees suddenly cast adrift in a terrible economy that seemingly has no new jobs for anyone, however skilled -- this was a match made in heaven. Borders, after all, had gobs of my money spent there over the years; so fair is fair.

But Borders still calls the tune. Or so it thinks. 40% discount? Magazines only, where the markups are equally tremendous. Books? 10-20% (science fiction a miserly 10%, mysteries a more giving 15%).

C'mon, who do they kid? Certainly not me. Better discounts were always available online at Amazon and elsewhere, who always had the book in my hands within 1-2 days, and charged no sales tax; Borders (at least my neighborhood store) almost never had what I wanted, charged full cover price, would order it and possibly have it in 1-2 weeks. Oh, and charge sales tax.

Bill Gates famously said something to the effect that, with the advent of the Internet, middle-men had better offer a premium service or a better price. Borders offered neither, especially the past decade. That trend continues with this so-called liquidation sale: the better price is found online elsewhere. And I can find the precise item(s) I seek.

Go to Borders? Perhaps for a coffee... but for the sad fact that the coffee outlets are closed. And most assuredly not for any deal. Save yourself the trip.
-- David M Gordon / The Deipnosophist


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