Looking south from Overland Park, KS, Stephen Brucher just shot this incredible video. This is an intense, slow moving thunderstorm that will dump 2โ of rain in one hour if you are near its center. Share your pictures. Stay indoors as lightning can be deadly. #thunderstorms
Sen. @CoryBooker (D-NJ) calls FBI Director Patel a lackey and argues with @ChuckGrassley (R-IA):
Booker: "What a mockery you are."
Patel: "You are the biggest mockery in the United States Senate."
Grassley: "Are you ready to shut up?"
October 19th, 1987. The worst single day in Wall Street history. While everyone panicked and sold, one man's funds barely moved.
His name is John Templeton, 16% a year for 38 years straight. That week he did something that looked insane.
He told people to buy.
Not because he was brave. Because he had seen this exact movie four times: 1929, 1937, 1942, 1974. Every crash ran the same trick. The panic lived in the price, not the business. Dividends, book values, sales volume, he expected none of them to fall. The only thing that had actually crashed was the number on the screen.
And the flows proved he meant it. While the country yanked cash out of the market, his funds lost less than a tenth of one percent. More money came in that week than left.
Then he said the part almost no one was ready to hear:
"Those who weren't quick enough to get in on the ground floor when the bull market started in 1982 are now being offered a chance to get in on the ground floor of the next bull market."
The crash was not the danger. Missing it was.
He closed with the rule that carried him through every one of those decades:
"Patience. Be a long-term investor. Be prepared financially and psychologically to live through a series of bull markets and bear markets because in the long run, common stocks will pay off enormously."
Next time a headline panics you, ask one question before you sell: did the business change, or just the price. Almost every crash in history only touched the price.
save this one, it's three minutes, watch the whole thing below โ
In 1979, a talk show host looked at one of the most influential economists alive and told him, on live television, that capitalism ran on greed.
Milton Friedman had won the Nobel Prize in Economics three years earlier, in 1976, for his work on monetary theory and consumption analysis.
Phil Donahue, host of the highest-rated daytime talk show in America, asked him directly whether the concentration of power and profit under capitalism had ever given him a moment of doubt.
Friedman didn't pause before answering. "Well, first of all, tell me, is there some society you know that doesn't run on greed? You think Russia doesn't run on greed? You think China doesn't run on greed?"
He kept going, arguing that only capitalist societies built on voluntary exchange had ever lifted large numbers of people out of poverty, while every attempt to replace self-interest with central planning had made things worse.
Donahue tried one more angle, asking who would organize a fairer society if not government. Friedman's answer to that question is still being clipped and argued over online more than four decades later.
Their exchange lasted less than two minutes inside a much longer interview about the Great Depression, auto bailouts, and price controls, and it's become one of the most replayed moments in the history of televised economics.
Was Friedman right that every system runs on self-interest whether we admit it or not, or did he dodge the real question about inequality? Say which side you land on in the comments, then watch the full exchange below.
This video from Gary Baumgardner, an experienced commercial airline pilot, gives a good idea of how far the Amazon plane flew past the landing zone in Miami. Itโs eerie and bizarre why and how. Obviously have to wait for the final NTSB report but theories/reasons from experienced pilots include:
1. Tailwind/gusts
2. Lack of info for winds from ATC
3. Not enough experience for pilots in the 767
Just seems bizarre why they didnโt immediately do a go-around.
Thoughts?
The full context of the algebra controversy.
I've been pissing people off with simple logic my entire life, so I was not surprised at all by the reaction of the NPC's living in the matrix.
Shabbat Shalome to all the good goy slaves out there.
In 1983, a BBC interviewer asked Richard Feynman why two magnets push each other apart โ and he refused to answer it.
What he did instead is the best seven minutes on thinking ever filmed.
Bookmark & watch today, no matter what.
Warren Buffett paid more than $55 million for control of a furniture company without an audit.
The contract was one page.
Six years later, its 95-year-old founder walked out and opened a rival business across the street.
Her name was Rose Blumkin.
She arrived in America from Russia with no formal education and learned English from her daughter. In 1937, she used $500 to open Nebraska Furniture Mart.
Her rule was simple. Sell cheap and tell the truth.
When suppliers tried to cut her off for underpricing established retailers, she found new sources elsewhere. By 1983, one Omaha location was generating more than $100 million in annual sales, exceeding the combined volume of its local competitors.
Buffett had watched that record for years. On August 30 of that year, his 53rd birthday, he made the cash offer. Mrs. B was 89.
Berkshire did not count the inventory, verify the receivables, or check the property titles.
Mrs. B gave Buffett her word. He wrote the check.
The 13-minute footage attached to this post captures the acquisition as it happened. Buffett says buying a company without an audit was almost unheard of.
Mrs. B remained chairman. Her son Louie and grandsons Ron and Irv continued managing Nebraska Furniture Mart with her.
In May 1989, at 95, a management dispute with her relatives led her to leave.
Three months later, she opened Mrs. B's Warehouse directly opposite Nebraska Furniture Mart.
At the end of 1992, now 99, Mrs. B rejoined Nebraska Furniture Mart. This time, she signed a non-compete agreement.
Buffett later called his failure to obtain that protection a mistake.
Mrs. B had not broken her word. No agreement prevented her from leaving or competing.
Trust closed the first deal.
The missing clause brought Buffett back nine years later.
Tom Watson teaching you how to grip the club correctly.
Fantastic quality video courtesy of Sonic Titan Golf.
Give them/him a subscribe on YouTube as thereโs so many amazing videos there.
https://t.co/G4g8gVFJn5