Georges Karam

[10-K Diver @10kdiver]

1/

Get a cup of coffee.

In this thread, I'll walk you through "Gambler's Ruin".

This is a classic exercise in probability theory.

But going beyond the math, this exercise can teach us a lot about life, business, and investing.

[Nasser Saidi @Nasser_Saidi]

Shocking, unacceptable that Ambassadors of #EU+Switzerland+Norway that purportedly advocate Integrity,Transparency& Disclosure, Governance, Ethics, Human Rights meet w BDL Governor under investigation for corruption, money laundering,responsible 4 biggest global crisis in history

[Nasser Saidi @Nasser_Saidi]

#SriLanka’s crisis pales in comparison to #Lebanon’s collapse but Sri Lankans forcefully revolted against corruption & incompetence leading to removal of CB Governor & Gov’t and President. In our case they remain in place despite the unprecedented misery they deliberately created

[Omar Tamo @OmarTamo19]

During the second half of 2019, when the lira was dropping in value weekly, the Parliament's Finance and Budget Committee chair MP Ibrahim Kanaan advised a TV host to keep and enjoy her lira deposited at artificial exorbitant interest rates since there is "no fear on the lira"

[Omar Tamo @OmarTamo19]

Thread: IT’S STORYTIME 🚨

Exactly a year ago, it was time to rescue the country, the cabinet proposed its last financial recovery draft plan, which was prepared with Lazard, a leading financial advisory firm

But what they did not know, was the side they would be confronting

[Dan Azzi @dan_azzi]

Big Mac not a bad index, but missing that up to 70% of 9000 Lira rate not transmitted to prices, since 1500 peg still on many things (fuel, elect, cell, car loan, mortgage,...). If peg lifted totally Big Mac would cost more making fair value ~ 5000. https://t.co/YUBRFFDGUh

[Nassim Nicholas Taleb @nntaleb]

Now Macron is calling the Lebanese scheme a #Ponzi
#RiadPonzi

[L'Orient-Le Jour @LOrientLeJour]

#Macron aux Libanais : J'ai honte pour vos dirigeants #Liban #politique https://t.co/dypqzB2u1w

[Emmanuel Macron @EmmanuelMacron]

C’est pour la petite Tamara rencontrée hier que nous devons rester mobilisés. C’est pour toute la jeunesse que nous devons nous battre. Au moment de quitter Beyrouth, je veux dire à nouveau et avec conviction : je ne vous lâcherai pas !

[Nassim Nicholas Taleb @nntaleb]

Much of the problems of modernity is taking religion literally and science metaphorically, rather than the reverse.

[Gregg Carlstrom @glcarlstrom]

Lebanon's political class: couldn't be bothered to move the giant bomb out of Beirut or help repair the damage it caused, but finds the time to call me to complain about how they're covered in a foreign publication. Maybe I shouldn't be surprised but it's mind-boggling

[Emmanuel Macron @EmmanuelMacron]

L’avenir du Liban se joue maintenant.

[BBC News (World) @BBCWorld]

"You are sitting with warlords, they have been manipulating us for the past year"

A woman confronts French President Emmanual Macron in Beirut
He embraces her and says: "I'm not here to help them, I'm here to help you"

https://t.co/kWGQxTr6rF

[Emmanuel Macron @EmmanuelMacron]

بحبك يا لبنان !

[Georges Karam @Georges_krm]

@EmmanuelMacron Merci pour cette visite symbolique qui donne un peu d'espoir. Le Liban a besoin du support de la France pour renverser toute sa classe politique criminelle et corrompue et créer un nouveau system politique fonctionel. Les Libanais en seront toujours reconnaissants.

[Nasser Saidi @Nasser_Saidi]

We need to hold the politicians & policy makers responsible for biggest Ponzi scheme in history accountable & responsible. Lebanon’s elites scramble to avoid the reckoning for its debt crisis. Gov't & the banks cannot even agree on the scale of the problem, let alone tackle it.

[Nasser Saidi @Nasser_Saidi]

The bottom line is that the Central Bank was financing government budget deficits and monetizing the public debt through bank borrowing, earning less on its “assets” than it was promising and paying the banks. That is the Ponzi scheme https://t.co/0gOkRPR1QI @henrichaoul

[Smiljana Skiba @MasaSkiba]

"We lost the island effect. There's no place to hide."

Nassim Taleb (2013)

[Nasser Saidi @Nasser_Saidi]

The #Lebanese Pound LBP has seen the steepest depreciation since the start of the year after the Venezuelan #Bolivar and Zimbabwean Dollar. The near term horizon is more depreciation, sadly. @loubnanouna1 @finance4lebanon @BDL_Lebanon