story of my life:
was watching Barca vs Man U and as I was handing out dog treats to my dog with my left hand I was munching my snack with my right hand - I was so into the game and forgot which was which and accidentally ate my dog’s treats
Social Security trustees admit base case is for that scheme to run out of money in nine years. But that assumes no recession all that time, so maybe it’s more like five years. Without reforms 20% of benefits or recipients must be cut by 2034 they say. That’s the best case, I say.
The 2008 financial crisis was about more than just packaging of loans with bad incentives and corrupt credit rating agencies.
It was the end of a long-term debt cycle.
An interview with Mary Daly, President and CEO of the San Francisco Federal Reserve
We talk about the evolution of the labor market, profit margins, financial nihilism, the Fed's laser focus on 2%, a new 'R' word, and of course, artificial intelligence
Vučić decided to back off without gaining (or losing) anything substantial. Three 'demands' fulfilled:
- Pantić placed under house arrest (court decision)
- No Serbs to be arrested for placing barricades (not a gain)
- KP to liaise with KFOR before actions in north (nothing new)
Many public stocks are not 'investments'. They are schemes for insiders and bankers to cash out at your expense.
The sooner you realize this is the game Wall Street plays, the better.
"How do you invest?"
Always funny to hear people respond: "I'm boring, I invest in the S&P 500"
If by boring you mean stocks actively selected by a committee, huge home country bias, no real assets, no bonds, no tether to valuation, no trend.
Boring is not the word I would use
I am declaring December 23 a state holiday so that our hard-working employees can spend more time enjoying the holidays with their loved ones and as another way we can show our appreciation to our dedicated state workers who have helped us change Maryland for the better.
Do you think there's anyone on the planet who knows more about financial services company B. Riley Financial than Bryant R. Riley, chairman & CEO of B. Riley Financial? Seriously. Anyone? So did he just buy $2.6M worth of $RILY in the open market bc he thinks the price goes down?
Free alpha idea
Reserve tables at restaurants using different email addresses and don’t turn up. Then short the stock when they miss earnings
This is called activist investing
Standard practice: send email about your TOS changes
Strongman practice:
-“permanently” suspend journalists w/o letting them know why
- mention in a random reply hours later that these are 7-day bans for "doxxing" even if they didn't doxx
- then ask via poll how long to keep ban
BREAKING: This evening the Czech President signed the Czech Magnitsky Act into law. It’s a done deal. Thank you @JanLipavsky, my friend, ally and Czech Foreign Minister who made this happen. This will be used to do lots of good things for victims of human rights abuse
New Years Resolution
Convince @DaveRamsey and team to move to low-cost tax efficient ETFs from expensive and tax-crushing mutual funds.
Probably a 1.5% fee and tax drag, per year, just from the structure alone...such a no-brainer!