Petey

Listen, the mud soup and charcoal arugula are outrageous here | LIBOR apologist

[Ethan Brooks @alt_w_v_g]

My wife mentioned a nice private school over dinner this week
She said the campus was beautiful
I asked what's the tuition
She said we should look at it as an investment in him not a cost
I made a note
She said don't make a note
I said I always make notes
She said this isn't a deal
I said everything is a deal
She closed her eyes

She said we'd discuss it Saturday
I agreed

Saturday 7:02am
She came downstairs in her Saturday robe
Coffee in hand
I had my cargo shorts on

The dining room had been cleared
The projector was on
The analyst was at the head of the table
Quarter zip on, three iced coffees, a legal pad, and two laptops
He had been there since 6:44am

I texted him at 11:14pm Friday
The text said dining room 6:45am bring the model
He sent a thumbs up

My wife stopped in the doorway
She said what is this
I said you said you wanted to discuss it
She said this is not a discussion
I did not respond
She sat down anyway

The analyst stood
He said good morning ma'am
She did not respond
He sat back down
A printed deck in front of each seat
A fourth copy in case

Slide 1 Tuition Schedule
$38,500 per year
Thirteen years
$500,500 nominal
Before escalators
The school has raised tuition 4.2% per year for a decade
With escalators $648,000
My wife said okay
I said I'm not done

Slide 2 Opportunity Cost
Even before escalators
$38,500 invested annually
10% nominal return
S&P long-run average since 1928
By his eighteenth birthday $944,000
My wife said we can afford it
I said I know that's not the slide

Slide 3 Terminal Value at Age 65
$83 million
She was quiet

The analyst slid the sensitivity tables across the table
8% return $31 million
10% return $83 million
12% return $222 million
She did not look

She said this isn't about money
I said it's always about money
She said no it isn't
I said then what is it about
She did not answer

She said you can't put a dollar value on his teachers his classmates his environment
I said I can the analyst already did slide 6
He flipped to slide 6
She did not look

She said the school is the best in the city
I said best is a feeling
She said it produces the best students
I said the students were already the best before they got there

She said our son deserves it
I said our son deserves $83 million

My son walked in
He is five
Dinosaur pajamas
He looked at the projector
He looked at the open deck on the table
He looked at slide 3
He said are we modeling pre-tax or after-tax
The analyst opened a new tab
My wife looked at the ceiling

He said what's the discount rate
The analyst set down his pen
She closed her eyes

He said is this the same return assumption from the 529 conversation
The analyst stopped typing
He looked at me
I did not say anything

She stood up
Sat back down

He said dad can I help
I said yes
He pulled up a chair
The analyst handed him a printout
He started reading

My wife watched him read
She watched him for a long time

She said his name
He looked up
She said do you like school
He said the work is too easy and the kids don't ask questions

She did not respond
She looked at the ceiling
She walked out of the room

The analyst started packing up
He said should I follow up Monday sir
I said no follow up needed

He'll be fine

Sent from my iPhone

[Gene Parmesan @dsonoiki]

call this bitch Elizabeth Warren the way she killin my spirit

[Robert Sterling @RobertMSterling]

Deloitte’s CEO finding out his accountants have been pouring chemicals into the river

[Prepared Remarks @P_Remarks]

Dario when only 50% of all white collar jobs have been wiped out

[Steven Adler @sjgadler]

Dwarkesh: Why would we want to sell China the materials for a serious cyberweapon? It's like selling them nukes with a casing that says 'made by Boeing' and claiming that's good for the US

Jensen: Comparing AI to nukes is lunacy. Enriched uranium is a lousy analogy. It's an illogical analogy. What we have to recognize is that AI is a five-layered cake.

[Martin Shkreli @MartinShkreli]

This is false. Disney paid $1.2B in taxes last year. Your inept staff is confusing an accounting accrual reversal with cash taxes paid.

This is your problem. You don't know facts and shoot from the hip.

[Petey @pete_04]

@TerrenceMcVelma @RhysSullivan Circle back when NASA can reuse a rocket

[Samantha Smith @SamanthaTaghoy]

“MMIWG2SLGBTQQIA+”

The Canadian government just dropped this absolute monstrosity (and no, it isn’t satire).

[High Yield Harry @HighyieldHarry]

Boaz Weinstein offering retail BDC investors a 33% discount to NAV

[Caroline Wren @CarolineWren]

If you think Larry Fink only took home $38 million last year then I have a beachfront property in Phoenix to sell you

[Petey @pete_04]

@DanFriedman81 He was explaining the world as he wished it, not as it were

[Petey @pete_04]

Heard in a Seattle wine bar:

“I’m blanking on his Instagram name”

[Petey @pete_04]

She is correct

(I am not under duress)

[Alexandria Ocasio-Cortez @AOC]

This is sad. I know as a politician these companies are going to spend a billion dollars against me for saying it but 🤷🏽‍♀️

Pervasive gambling is not good for society. It turns life into a casino, traps people in addiction & debt, surges domestic violence, and fosters manipulation.

[Morning Brew ☕️ @MorningBrew]

"Hey man, you're probably going to jail"

Supermicro co-founder: 😭😭😭

[stepfanie tyler @stepfanie]

Bernie, wait until you hear about tractors. It's ridiculous. Men should be out there digging holes with shovels. Neigh. THEIR HANDS.

[Petey @pete_04]

@JPHilllllll “Why increase productivity?”

[Petey @pete_04]

Bob Ferguson in 24 months

[Based Jessica @RealJessica]

New York Gov Kathy Hochul is begging wealthy people who have moved to Florida and Texas to come back to New York and pay taxes. 🤣

"I need people who are high net worth to support the generous social programs that we want to have in our state. Now, there are some patriotic millionaires who stepped up. OK, cut me the checks if you want to be supportive, but maybe the first step should be go down to Palm Beach and see who you can bring back home."

"I have to look at the fact that we are in competition with other states who have less of a tax burden on their corporations and their individuals. And I would say remote work changed everything."

"There were people who could only work in an office in Manhattan and work in New York state. And they were captives to our state, they were going to stay. We saw that that's not the case. Wall Street businesses looking at Texas, they're not going there because they have a nicer governor. They're going there because of the tax rate."

[Petey @pete_04]

@rwalker1072 @gregorykennedy This is the end goal