I can't believe how bad @AmericanExpress customer service has been. I booked a room over the phone with their travel team. One request: add my wife to the room in case I can't be there the first day (we are traveling separately due to my biz schedule). They said no problem, done. Except it wasn't done, the @WynnLasVegas never put my wife on the resy, and will not do so for some reason (anti-marriage?). Amex Platinum won't refund and, in fact, told me my only option is to complain via a form, which will be responded to in 6-8 weeks! What takes 8 weeks these days? What an awful way to treat a 20+ year customer. What a dumb way to lose a customer - over an hour on the phone, a $600 charge, which is less than the annual fee. @Chase Sapphire, here I come.
@resetbasis@jasonc_nc Can you write more on what you mean by Section 8 reasonableness? How’s this program supposed to really work vs how grifters use it? I would be fascinated by your take.
🚨 BREAKING: In the newly released Epstein files, a list of individuals associated with St. Barth’s Christmas 2010 includes Kevin Warsh, President Trump’s pick for Federal Reserve Chair.
@NnPnemck That means you should have more empathy than less. Most people felt for that tragedy, even if your bot-filled feed told you differently. This guy was called a terrorist by the administration immediately.
Independent/small-shop brokers are going to have a significant advantage in the next 12 months. Large institutions don't even allow direct LLM access, let alone personal automation of all workflows.
Same goes for all private owners under a certain scale. We are already working with a few on AI implementation.
@ShitFund Cutting Fed Funds rate too quickly will lead to higher long term rates - every cut this cycle has lead to an increase in the 10YR UST, which affects 30YR mortgage rates for potential homeowners
A lot of you have never had to sleep in your car, and it shows.
The idea is not that $250 compounded is going to make a life-changing impact on its own. Optimistically, that money could grow to $1,400 over 18 years, which isn't enough to do much.
What it does is teach children about investing over time. You watch the money grow, become curious about how it all works, and feel like you have some control over your life. Agency, for those on the margins, is a superpower.
For low-income families, investing is usually not a priority; survival is. You hear about investing from time to time and have some loose understanding that it could be helpful, but it's something "other people do" and not for you.
I remember long stretches of my life where I looked at "other people" and simply assumed that wasn't a viable path for me. They were good, smart people, which is why they had money, and I was not. Which is why I had to learn how to make $20 last a week.
No one in my life taught me about investing; it wasn't a priority. Other stuff was. People find the time and money for things that are important to them, so if no one tells you investing is important, you don't prioritize it.
Giving children in lower-income zip codes a window into what investing might look like could fundamentally change the trajectory of their lives. Not all of them, but even a small percentage who see a path out becomes meaningful.
Dunking on the Dell's donation is a tell that you've had a pretty smooth path through life, so congrats. It also shows you don't understand 2nd and 3rd order impacts.
A mentor early in life, teaching me about how money works, would have saved me years of pain. Perhaps this can be that lesson for a few kids.
LP: We want distress
GP: Cool, here's some
LP: Jesus Christ, no. Not like that. That looks scary. We're thinking more newer vintage, distressed capital stack.
GP: Ahh...got it. Cool, here's some.
LP: Interesting, but we only want primary markets.
GP: Alright, how about this?
LP: This would be perfect if the price were lower and the going-in yield were better.
GP: Super helpful feedback, thank you.
What a resume!
-youngest partner at Blackstone
-co-founded Evercore
-helped rebuild Russia’s economy after the Soviet collapse
-deputy mayor of LA
-ran the LA Times & San Diego Union-Tribune
-Superintendent of LAUSD through a strike & Covid
-now running for LA mayor
@atnissly The massive decline in show/movie productions is also hurting the region as well. That’s not something a politician can fix. But a few positive catalysts would be helpful - like feeling safe to walk around DTLA, Santa Monica, Hollywood, ride the subway, etc.