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Messages - oldsalt19

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1
If the newest poll is disheartening, it may really be that it is just more accurate the previous polls, which may have been overly optimistic.  Perhaps things may not be going downhill as much as y'all fear. :)

A few years ago, I posted a reply questioning the annual poll because the data and the results coming from it didn't look right.  There were obvious problems with the understanding of basic terms such as "median", no use of requisite standard deviations, one shooter who claimed an income of nearly half a million USD annually with a portfolio of one thousand images, etc etc.  The income per image of the of the average shooter, as reported by this poll, was about 3 times what I would have expected from my informal anecdotal networking with other stock photographers.  My comments on the poll were countered with great and negative vigor by a number of the members of this forum.  Statistics very much like these were among my principal duties during my 36 year tenure as a clinical microbiologist in a metropolitan health laboratory and such calculations were checked very closely by the state laboratory inspector during yearly unannounced inspections.  So, I was confident in my assertion about the forum poll and it was obvious I was not going to convince anyone, so I chose not to continue the discussion, confident that eventually there would be others also with doubts.

2
"The P/E ratio is also helpful for a stocks value."
  But this is only half using the P/E--and to ignore the other half is done at the investor's peril.  As well as using the tool to evaluate the worthiness of a stock's profitability, the tool is also useful as a measure of sentiment as to where the company is going.  If one believes that a company's fortune will continue to rise, then a higher P/E may be justified before the company is overvalued.  I believe the SS will continue to do very well.

A number of years ago, the very successful investor and fund manager Peter Lynch wrote a book titled One Up on Wall Street. in which he suggested that the successful investor should use that exceptional knowledge that most investors already have-- the knowledge of his or her own profession.  A professional automobile mechanic is better qualified than most investors to recognize the next great concept in automobile engine design when he sees it first marketed.  If he invests in the company which is putting such an automobile on the market, he has a huge advantage in the random walk market.  Because of my (and the other members of this forum) experience in stock, I knew that SS was the top of the heap.  As soon as the bubbly buzz at its IPO settled down, I bought what SS stock I could afford--and I have doubled my money.  When and if things sour at SS, I will especially know it because of my own knowledge and that of you all in this forum and I will sell.  BTW, when I bought, I mentioned all of the above in the SS forum; a post which was greeted with stony silence.   

3
iStockPhoto.com / Re: sjlocke was just booted from iStock
« on: March 05, 2013, 23:26 »
BTW, Please do not assume that my attitude is in any way hostile.  Rather, I think that sjlocke deserves a lot of credit for his initiative and obvious talents for coding-- and I probably deserve some unkind words for the patronizing tone of the first part of this sentence.  Mea culpa, really.   :-[.   I received the one and only written reprimand of my long career for taking the initiative and putting in place some tools that very much remind me of Sjlocke situation.  This is istock-Getty's loss.  I'm thinking that there are a number of stock photo managers around the planet who are even now salivating at the possibility of adding this photographer and his impressive portfolio to their library.

4
iStockPhoto.com / Re: sjlocke was just booted from iStock
« on: March 05, 2013, 20:11 »
Being right doesn't cut it.  This may not be fair but life itself is not fair.  The #1 priority of any company is to maintain control.  Even if your modifications are the most totally cool things since smart phones, such independence would absolutely not be welcomed by the company unless you keep them in the loop from the very start.  The required protocol would have been to present a beta version to Istock and then have them move it upstairs through channels to Getty.  If you went to Getty first, Istock management would be pissed because you "went over their heads." If you were ignored or if your work was rejected you needed to keep resubmitting modified versions until they were convinced.  I you were truly at the top of the contributor heap, I think that they would have eventually listened to you.  If they remained unconvinced, you would have the choice of dropping the project, starting your own company, or taking your work to another company.  The last two choices would probably require that you separate yourself from Istock.  But you NEVER NEVER proceed independently unless your job includes independent development.  Even then you would normally be expected  to keep your immediate supervisor in a very tight loop.  This may seem bureaucratic and inefficient but this is absolutely the way most business works.

This is a huge thread and I confess that I have not read all of it, so perhaps someone else has also mentioned these concepts. I hope so.  Such concepts, right or wrong, are fundamental to modern business and I would be very surprised if there was nobody that is following this thread that realized it.

5
I used to do quite a bit of estate work, so I'd like to share a bit.  The procedure is much the same if a person (in this case the photographer) dies or is declared incompetent by the Court.  After death, a Personal Representative is appointed by the Court, or in the case of incompetence a "Conservator" .  This PR used to be called the Executor.  The PR is often named in the will and the Court will almost always automatically appoint that person.  At that time the court will issue a paper, called "Letters" to the PR.  In the case of incompetence, these are called Conservator's Letters.  In a death situation the are called Personal Representative's Letters.  Additional certified copies of the PR Letters can be issued but there is usually a small fee, several dollars per Letter.  The PR will send a PR letter to the Agency which will then send royalties to the PR during the period the will is being probated.   Sometimes in a large or complicated estate, probate can go on for years. In the case of incompetence, the royalty payment arrangements are usually permanent until the death of the ward (incompetent  person).  In a probate (death/probate) case, the PR collects the royalties until the estate is settled.  The royalty income during probate will usually go into the residue of the estate to be distributed as directed in the will.  When the estate is settled, the PR will pass ownership of the agency photos to the beneficiary and will notify the photo agency of the change of ownership.  Sometimes a copy of the will may be requested by the Agency.  This is usually sent by USPS certified mail.  Then the Agency will make the necessary paperwork changes and business will proceed as normal with royalty payments made to the beneficiary.  You may ask "What if the photographer has no will (called intestate)." No, it rarely goes to the Government. The often surprising answer is that there is usually no such thing as no will.  In the USA everybody has a will.  It is written automatically by the state that is the deceased person's legal residence. (this may vary from state to state).  There are specific rules here about who inherits, this being determined mostly by the closeness of bloodlines.  Often the order is spouse, children, parents, siblings, etc etc.  When a person makes a will, he or she is CHANGING the will made for them by the state.  Only if an individual dies intestate and has NO living relatives does the estate wealth go to the government.

I hope this helps.  It may seem complicated but it really is just a large collection of simple, usually logical, steps.

6
General Stock Discussion / Superstock
« on: May 03, 2012, 17:05 »
Any opinions on an agency called Superstock?

7
Site Related / Re: 2011 Independant microstock Survey
« on: January 02, 2012, 19:13 »
My post is there using this username (oldsalt19).  There is a note by my post that says "Your comment is awaiting moderation"

8
Site Related / 2011 Independant microstock Survey
« on: January 02, 2012, 16:19 »
Perhaps there is a better place to post this.  If so, my apologies.  I have just received the forums email invitation to participate in the 2011 Independant microstock Survey.  So I took a quick look at the 2010 survey portion that dealt with income vs portfolio size.  I will not fill out the survey form as I am somewhat concerned about the tabulation of at least this portion of the last (2010 survey).  My comments and concerns can be read at:
http://blog.microstockgroup.com/microstock-income-vs-portfolio-size/

9
Adobe Stock / Re: New Site Design & Search Tools
« on: July 04, 2011, 14:01 »
From personal experience, I think that they will need to do more than that.  Basically, their business model is flawed.  I do scientific photography with the microscope.  I was able to upload slightly under 100 of these images before they stopped accepting my work.  What I managed to upload sells very well; better than any other agency.  So well, in fact, that several times I have had as much 20% of my Fotolia portfolio downloaded in one day1!  When I emailed them to remind them of this and ask why they would no longer accept my work, they didn't answer the question.  What they said was that their evaluation team was "independent" from their sales team and that they did not communicate(?)  Hmmmm.   How many sales-based organizations do you know in which the company buyers and sellers do not talk to each other?  Although some of my work is still there, I no longer send them anything.

10
I've just been there.  It does indeed appear as there may be malware there.
oldsalt19

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