From the NYT:
Asbury Park, N.J.: A Seaside Community Reborn
Carolyn Curtin moved to Asbury Park in 2002 and fell in love with a late Victorian house with a falling-down porch and heaven knows what other problems. She knew nothing about construction, but borrowed a level from a crew rehabbing a building across the street to check it out.
“I walked all three stories and threw down the level; everything was spot on,” she said. She bought the house at auction for $209,000 and began fixing it up. Then she fell in love with her plumber.
Today, Ms. Curtin, 55, has parlayed both romances into a business called Salvage Angel by the Sea. In a former Canada Dry warehouse on the west side of the city, she and her partner, Brett Holloway, collect the architectural fragments of Asbury Park’s upheaval for others to repurpose.
…
Ms. Curtin is one of the risk-takers who moved to this historic oceanfront resort when it was a capital of crime, drugs and disappointment. Many came, as she did, for the music and art scene that thrived amid the erosion, with small businesses giving the community its character as a culturally rich outlier on the Jersey Shore.
Now that large-scale development has finally taken off after a few false starts, the streets are safer (crime dropped by 13 percent last year) and Asbury Park is attracting more affluent weekend and full-time residents. Stalwarts like Ms. Curtin are poised both to profit from and mourn the transformation.
On the one hand, median home values have risen 42 percent in the last five years. Instead of eyesores, visitors see retrofitted historic buildings like the three-year-old Asbury Hotel, built in a former Salvation Army boardinghouse, and new construction like Asbury Ocean Club, a luxury condominium-and-hotel complex slated to open this summer. The once-desolate boardwalk and shabby downtown have become vibrant retail corridors.
On the other hand, the rising cost of rent, goods and services is putting a squeeze on the population of 16,000 — 30 percent of whom are living below the poverty line — and, some say, threatening the quirky energy that makes Asbury Park unique.
First
Fullerton Grounds Maintenance, which owes 362 employees a total of $529,898.12 for working more than 40 hours per week, has also been fined $20,000 by the state Department of Labor.
That’ll teach ‘em.
https://www.nj.com/morris/2019/05/nj-landscaping-company-that-stiffed-workers-for-nearly-530k-in-ot-agrees-to-pay-up-faces-fine.html
RE Asbury Park: Superstorm Sandy and the summer of 2013 did it. They were one of the few towns in the area ready for business. Beyond the normal uptick of an improving economy, and being in the right aethetic of the cultural shift to urbanization, they also received an adrenalin shot from all the displaced tourists looking for a beach community that was ready to receive them.
For all the times AP whiffed, they were in the right place at the right time this time.
AP also now has a huge middle aged straight singles scene. And it’s the straight people who are now the ones who are embracing the whole liberated anything goes scene. It’s like Ancient Rome on the beach now
re: “AP also now has a huge middle aged straight singles scene.”
More than a few wealthy older single women there on a Summer night at the Pony or restaurant nearby. If you have a single middle aged brother dress them up and send them there, but only if they can handle the twinge of Real Housewives attitude, accents and attire.
Juice I know I have seen it. We run into divorced people we know down there all the time especially women they usually travel in groups.
3b – I have a brother who fits the bill but he won’t bite, he is a musician and is down at the Pony all the time, he tells me he still prefers them young and fun, as opposed to rich and bitch.
Juice me too! Same beliefs as your brother. Me personally I would not bother. Weather permitting we will be down in AP this weekend. We alternate between AP and Spring Lake.
Happily married. A New Jersey divorcee though would be the last place i’d Look for nookie.
Ex they are all over AP.
The only middle aged women I would want to meet on the beach is Liz Hurley. Time has been very very kind. Not always the case for English birds.
I don’t think cougars on the prowl are hunting for middle-aged musicians.
Ohhhh Bruiser… ur probably juuuust what they want then,
I’m pretty sure I’ve pulled more hot chicks than you have had hot meals.
In the midst of the best run of our life and it’s only getting started. When has low unemployment combined with growth in the economy had it this easy with inflation? My god what a special time to be alive.
“New York Fed leader John Williams said Monday the central bank’s views on how low the unemployment rate can go without sparking inflation have evolved.
The fact the economy can operate with historically low unemployment levels without sparking inflation is “good,” Mr. Williams said at the end of a “Fed Listens” event held at his bank. The gathering was part of a series of events the central bank has been holding to solicit community views on central bank policy.”
Self Driving truck test for the post office.
https://www.autonews.com/mobility-report/postal-service-test-automated-delivery-between-2-major-hubs
A little defensive?
ExEsSex says:
May 21, 2019 at 11:14 am
Ohhhh Bruiser… ur probably juuuust what they want then,
I’m pretty sure I’ve pulled more hot chicks than you have had hot meals.
I live less than a mile from AP and avoid it like the plague. When I work with the old Asbury musicians at the Basie in Red Bank, we all reminisce about the crazy days at Convention Hall and the Pony when we had tour rehearsals and music video shoots. The place is all smoke and mirrors now.
I park in Ocean Grove and walk to Asbury. Korean tacos are pretty good at MOGO.
Will Murphy sign it?
https://www.nj.com/cape-may-county/2019/05/renting-at-the-jersey-shore-there-may-be-a-way-to-escape-the-new-tax.html
Poor, poor TESLA.
12:02 once legal weed kicks in ya’ll be in tall cotton….
I’m not sure why but this web site is loading incredibly
slow for me. Is anyone else having this issue or is
it a problem on my end? I’ll check back later and see
if the problem still exists.
MOGO – i’m not a fan personally…
the rest best food is burbelmaiers in ocean grove
Cookman Creamery is delicious ice cream
Best coffee at Cafe Volan
I spend many weekends in Asbury… always stop at Kane Brewery on the way… would love a home in ocean grove one day.
Also I was mugged in Asbury at Gunpoint about 15 years ago…
TIMES have definitely changed…
Worth posting again for resident fool:
Bernanke: There’s No Housing Bubble to Go Bust
By Nell Henderson
Washington Post Staff Writer
Thursday, October 27, 2005
Ben S. Bernanke does not think the national housing boom is a bubble that is about to burst, he indicated to Congress last week, just a few days before President Bush nominated him to become the next chairman of the Federal Reserve.
U.S. house prices have risen by nearly 25 percent over the past two years, noted Bernanke, currently chairman of the president’s Council of Economic Advisers, in testimony to Congress’s Joint Economic Committee. But these increases, he said, “largely reflect strong economic fundamentals,” such as strong growth in jobs, incomes and the number of new households.
Libturd in Union says:
May 28, 2014 at 10:53 am
Gary,
Short Tesla!
“Shit, we messed up. This mania has gotten out of control. We have to rethink our policy quickly before it blows up”
-Said No Fed chairperson ever
Steamy Cankles Foundation says:
April 4, 2017 at 4:15 pm
The only thing I have successfully shorted was real estate. As much as I would love to drop the hammer on TSLA. I also know that companies that rely on huge government subsidies tend to always obtain huge government subsidies long after they are not needed. In many cases, long after the technology is proved impractical. Example A…Ethanol.
In 2005, the writing was on the wall for those that wished to see it. It was obvious in 2003. Houses don’t go up that fast without being overheated. Everyone and their mother was getting rich in real estate.
In comparison to today, what part of the economy is experiencing severe overheating? Absolutely nothing. Besides bitcoin a few years ago, there has been no getting rich quick stories based on the avg guy. No watercooler talk about how rich they are getting off said asset. Everything in the economy has been growing at a healthy controlled rate. I see no signs of this stopping anytime soon. THERE IS NO INFLATION ANYWHERE, yet still steady growth. Do you know how much of a miracle this is? Do you know how fortunate we are that we get to live through it?
Get used to this:
Doorbell: {Ding Dong}
Blumpy answers door: Ping Pong?
Bystander,
The Wayne Racquet Club (Established 1973) was built decades prior to you know who’s house. So at some point, they changed the rules mid game!! … no reason why they don’t do it again
There’s only one:
https://youtu.be/ephKDD9HH3g
I hear he spend more time in Ojai now,
Music will always be a hobby for me, but this guy!
If Wayne wants to hurt the town, then change the zoning. I’m not going to cry about the dumb move, I will only act on it. I will move and go find a town not willing to throw its high paying taxpayers under the bus by putting commercial property right up against residential homes. I don’t even understand how this is even being entertained, but if they want to ruin the town, by all means, ruin it. I’ll move and won’t look back.
re” I was mugged in Asbury at Gunpoint” and “TIMES have definitely changed…”
Our waiter at an AP restaurant at was mugged walking home one evening, it still happens.
Libturd, from the time of your short call on TSLA five years ago, the stock is roughly flat.
That’s big underperformance of the S&P500, but not going to make anyone rich yet.
Shorting from early December 2018 would have been much better.
Here’s a much worse forecast. I saw pumpkin publicly predicted last month that Jon Snow would be sitting on the iron throne.
Spoiler:
He didn’t.
Anyone on this board play USTA Tennis?
Yes, I do feel fortunate Blumpy..to live on a residential only, dead end street. They are building $1m SF houses all around. Cha Ching.
No one,
For which game system? ;>)
Blumpy soon to chair USPPA..and by chair, I mean sitting on chair in his front yard.
Oh poor pumps, he has it so bad. How awful it must be to live in his home….
While it lasts, can’t beat being this close to NYC while having woods in the back and 10 acres of woods across the street. All for 650k….can’t beat it! LIFE IS GOOD.
No One.
If you had the pockets AND the patience. You could probably make a very pretty penny shorting Tesla from anything above $5. Never before have I seen such an obvious future bankruptcy from such a large cap company. Doesn’t matter if it’s $400, or $40. Opinion would still be the same.
Do you think there are any short positions still available on tesla? A few big boys probably bought them all.
North Jersey is filled with residential backing up to commercial. Paramus is just one example.
I wouldn’t worry that much about the ping pong hall. Most of them are tiny. Like this one in Nashville.
https://bit.ly/2YCUSEP
Nah, it’s usually separated by something.
You don’t understand the issue here. All I know is that if it was happening to you, you would be b!tching. FACTS.
Anyone would be complaining about a new law put in place by the town that directly lowers your home value. That’s why I don’t think this has a chance in hell of passing….
3b says:
May 21, 2019 at 2:39 pm
North Jersey is filled with residential backing up to commercial. Paramus is just one example.
Like I said north jersey is filled with residential backing up to commercial.
Well 3b, then why don’t you go buy one of them. I don’t think you are being fair here, but I wouldn’t expect that.
Hello,
I hope you are well. I have had a colleague pass over your details to me regarding your website in the hope you’d be interested in accepting a great article I am working on?
Would you be able to let me know what your lowest budgets are to publish content on your blog, please? I write informative articles for websites readers, not just for Google and Include good research.
I would be linking to Compare the Market and my budget is between £50- £100 GBP.
Eagerly awaiting for your response
Thanks,
Andre William
WMG Agency
https://www.wmgagency.co.uk
Poor, poor, Nimfy. If you want to contrive a conspiracy theory, how about this one:
Everybody wants you gone. You are a turd. Nobody likes turds in their life. We’d prefer to flush them back to Clifton.
The Great Pumpkin says:
May 21, 2019 at 1:51 pm
If Wayne wants to hurt the town, then change the zoning. I’m not going to cry about the dumb move, I will only act on it. I will move and go find a town not willing to throw its high paying taxpayers under the bus by putting commercial property right up against residential homes. I don’t even understand how this is even being entertained, but if they want to ruin the town, by all means, ruin it. I’ll move and won’t look back.
“I don’t think cougars on the prowl are hunting for middle-aged musicians.”
Depends on the size of their ‘Equitable’ Distribution.
Wealthy ex-, all over the musician, little league coach, and even landscaper.
Not so well off ex-, looking for a port before the storm of her 50s…..
Left a lot of them are well into their 50s. Seems like women are more anxious to find someone then men. Just an observation.
TSLA…I’m short (through options) since 5/7, at $252 a share…
Been rolling and covering so I don’t get the full bang of the decline, but will take it.
Don’t know that I would hop on the elevator down with new money right now though…it’s lost a lot of steam. It likely goes down further but the price action today I read as positive, especially in light of all the ‘analysts’ playing catchup with sells. Including MS, who called a worst case scenario price of $10 this morning.
MS were one of the leads on the recent offering IIRC and hold nearly a quarter of a billion in loans to Musk…that must have made for some serious Chinese Wall maneuvering today lol…would love to have been a fly on that wall haha.
Anyway, the takeaway for me today is with it not collapsing in the face of everything being thrown (and actually covering a gap down at open), it may have found a short term bottom.
IMO, most of the easy gains on a short are already in.
If you still want to play it dropping further and are familiar with options do it through a spread. You’ll need to pick an expiry date but unlike a straight short you will quantify your worst case loss, don’t have to worry about the shares being called away, and don’t have to pay any financing costs. You’ll leave a little on the table, but can easily structure a trade where you’ll double your money at risk.
Also, I’ll need to double check this tomorrow, but my screen is no longer showing the shares as HTB (hard to borrow). Presumably a number of the shorts covered. Read that how you want…either the guys riding the shares down believe the decline is substantially over or they’re just taking some profits off the table.
YMMV
I wanted to short Tesla last year but I ultimately decided I don’t want to short a cult. The shorts were expensive then and they are now. I agree, they are headed towards bankruptcy and I think the big boys are going to show them the door even faster. Their company valuation is completely insane and if it ever drops to something more reasonable, someone’s going to buy them.
I do like the Hoagitos as well. Was very dissapointed in Cubacan but the view is great.
Some of us are just better at real estate decisions than Blumpy. I had a keen economic sense for things. An ability to predict far out in future and make good calls. Always asked following:
1. Is there current value in this house?
2. Could my family live comfortably in it for next 20 years?
3. Could a giant ping pong facility be built across the street?
Again, those are the questions I always asked while house hunting. Most savvy buyers on this blog do the same.
Finally a heartwarming and uplifting story of healing the sick (jj Edition):
A man woke up after a boozy night to discover his peni$ had been hacked off — and he had no idea how it happened, it’s reported.
Tan Nan had allegedly been out with friends in Hunan, southern China when he became so drunk he fell asleep, according to local media reports.
When he came round the following morning he felt a sharp pain in his groin, then noticed his gen!tals had been chopped off, reported Chinese-language local paper STEN. Police are now investigating the bizarre case.
Nan allegedly told cops he had no idea who was responsible for the cruel prank.
According to the Sanxiang Metropolis Daily, the 44-year-old from Huaihua, Hunan, was bleeding profusely but several hospitals apparently turned him away as they were not equipped for such an operation.
Finally, he was taken to Changsha Hospital and treated by microsurgery experts, according to reports.
Local media reported that Dr. Wu Panfeng, who treated Nan, said usually parts of the body that had been amputated should be kept in a dry, refrigerated manner.
After seven hours of surgery, his manhood was reported to have been successfully reattached.
Now he is recovering and doing well, medics have said.
Only one other time did I ever believe that ping-pong actually blew a hole into the Internet with a black hole’s gravity force of stupid. I now have example #2.
The Great Pumpkin says:
May 21, 2019 at 2:38 pm
Do you think there are any short positions still available on tesla? A few big boys probably bought them all.
^^^LOL!!!
Wayne’s World – excellent
https://youtu.be/9Riq6IMqXz8?t=59
As of right now, it is a residential zone and only a home can be built on it. So jackasss, the same thing can happen to you. Of course. your neighborhood will fight and win against the zoning change as will mine. It doesn’t belong in this location and has no shot in hell of being changed for obvious reasons.
“3. Could a giant ping pong facility be built across the street?”
A$$hole, you know what I meant. They bought it all up. Now it’s too expensive, if this is not the case, why aren’t you taking out a loan and shorting them? Go jerk off some more and make jj proud.
chicagofinance says:
May 21, 2019 at 5:49 pm
Only one other time did I ever believe that ping-pong actually blew a hole into the Internet with a black hole’s gravity force of stupid. I now have example #2.
The Great Pumpkin says:
May 21, 2019 at 2:38 pm
Do you think there are any short positions still available on tesla? A few big boys probably bought them all.
Highway house buyers beware (unless you like ping pong)!
Great “call” Nimfy!!
My guess is that Nimfy’s family will turn out just fine. His wife will remarry a Mafiosa who lives on Urban Club.
Urban club isn’t even all that nice.
Widows can’t be choosers.
https://mobile.twitter.com/hashtag/njcommute?src=hash
Wayne-NY commute live
My friends brother has been the lead singer/guitarist for various Jersey Shore cover bands for about 25 years. He’s met plenty because of that fact. He recently married a lottery winner that was part of the pool in NJ that won the biggest lottery in history at that time.
^^^that’s priceless lol
Rule one: Be desireless because “chicks are like hunters.” Rule two: Do excellent things in front of her to demonstrate “sex-worthiness.” Rule 3: Be Gone. Always remember the essential truth: “We pursue that which retreats from us.”
Yo! – That twitter feed is awesome. I rode the NJ transit bus into NYC for a stint, it has own special circle in Hell.
Even better the NJ Transit train will make be moving up the list in Hell this up and coming hot summer. Amtrak repair work will take two tracks at Penn Station New York (PSNY) out of service from June 17 – September 6th.
https://baristanet.com/2019/05/summer-of-hell-the-sequel-look-whats-coming-to-nj-transit-montclair-boonton-line/
By, 9:55a…
Even better, lol. You’re on fire this morning!
Yo,
Tao of Steve. Not a great movie but solid and some good quotables. I do think the writer nailed this one though.
If Asbury Park has “made it”, why are they still an Abbott district? $100 Million per year (for how many years now?) pumped into that single school district from the taxpayers across this state.
Question, my friend has 5 year old old son starting KG in ‘Boken. He was zoned for crummy school but now tells us he proudly got into Hoboken Dual Language charter. Is that luck or game played here? Seems funny as they were gung ho on getting involved in local school changes even promoting board candidates.
Bystander –
When my oldest was ready, he went to PK3 and PK4 in Hoboken. We then moved to the burbs and Day 1 at his new school it became apparent how far behind he was. Part of the blame on me, he was my first and I had no barometer to compare, but we did him ZERO favors keeping him in the public pre-school of Hoboken. I have no clue if the charters are better or worse but the public elementary school teaches at a level at least 2 years behind their suburban counterparts.
Same thing with Jersey City. They have been giving out hundreds of millions in tax breaks to attract businesses while they siphon off money from the rest of the state to fund their school system.
Let’s see – dual income 275k range, white fam that flips from school that is 90% black and Hispanic gets charter that is 60% white. Looks like 250 apps for KG, only 26 open spots and low income families had 3 balls in lottery as opposed to 1 for rest. Sounds fishy to me.
ByStander, Are you really that naive,
Look is ‘Boken, Hudson County,NJ.
It’s well know that all that politicians and connected people get their kids into the advanced/charter schools.
Your boy made a political deal
Perhaps I am that naive. How is that done with a lottery system?
Oh Jesus, I just had a flashback. I used to frequent a bunch of clubs in the Clifton area back before I knew any better, very early 1980’s. One weeknight I wandered into one and it was “Big Band Night.” Being a high school band fag myself, I was very impressed with the 20 piece band, but OMG, it was very off-putting when I turned my eyes to the clientele.
re: “AP also now has a huge middle aged straight singles scene.”
More than a few wealthy older single women there on a Summer night at the Pony or restaurant nearby. If you have a single middle aged brother dress them up and send them there, but only if they can handle the twinge of Real Housewives attitude, accents and attire.
How is it that none of the Dem asswipes ever tells us what income equality looks like? What is the salary?
3:11 damn the man. Eat the Rich.
https://twitter.com/hashtag/GarbagePeopleOfNJTransit?src=hash&lang=en
Bystander you might like this one. NJT chaos helps explain why NJ’s population growth is concentrated close to Manhattan where multiple transportation options exist (PATH, ferries, NJT buses that don’t rely on XBL, jitneys).
Happy girl’s car, happy wife, happy life.
Happily married. A New Jersey divorcee though would be the last place i’d Look for nookie.
Says the Miata driver.
Frist
Such a good little boy. Enjoy the traffic on the SIE!
Essex/Bystander/ChiFi/Expat and whoever else needs to get off:
https://www.youtube.com/watch?v=ZUrN8eMKWKU
Unbelievable remake.
Check out the comments.
https://finance.yahoo.com/news/millennial-author-the-baby-boomers-stole-our-economic-future-120952570.html
Yo,
That is awesome. Check out questionable white substance on seat on May 16th. Hilarious and nasty. Admittedly I take Metro North New Haven line now. Rarely a fight or giant loudmouth. Still there is about a 75% dickish attitude towards making seats available. Women with bags /purses are the worst. I don’t get that selfishness. I seek out jerks with their breakfast or coffee on the seat.
I was pleasantly surprised in my trip to Boston last year. Bunch of locals would always offer their seats to women standing on the T. That shit would never happen on NJT.
Most polite public transit behavior I’ve experienced is NJT 126 bus. Busiest bus route in country, maybe world, and passengers crowd in and ride in silence. It is a mostly Millennial bus. Riders glued to screens.
Ed,
Nice. I miss Scott though never saw STP live. A regret as my bro caught them several times and had some great shots and video from Jones beach. Honestly, best Floyd cover band I have seen recently is a band called Pink Talking Fish. They weave music of Floyd, Talking Heads and Phish which sounds gimmicky. It is and I held off seeing them for years. Ended up going to Capitol Theatre on whim when they were playing. $25 a ticket and they decorated place like a circus and had Big Apple performers, jugglers and clowns perform during the music. Best show of 2019 thus far. Check out girl nailing vocals on Great Gig.
https://youtu.be/0LWGbwktBnU
Lib, should be interesting, one generation was told they were “stop whining” and to work harder, another got “participation” medals….we’ll see how it turns out….
From the article lib shared..
For once, someone understands why the housing bubble started. It was good intentions. Bush wanted for almost every American to be a homeowner. This is the source of it all. The rest of the tragedy is a bunch of dominoes falling in place based on human nature.
““You can look at a bunch of things before, during, and after the Great Recession. Part of it was the long term Boomer fixation on boosting home ownership beyond any sort of level that made sense that created the conditions that caused the financial crisis,” he said.”
Funny, the generation that was told to stop whining when they were kids became the biggest babies as adult voters. The group handed out participation medals growing up are the ones that had to man up fix the economy that was stolen from them.
Funny how that worked out…
1987 Condo says:
May 23, 2019 at 10:30 am
Lib, should be interesting, one generation was told they were “stop whining” and to work harder, another got “participation” medals….we’ll see how it turns out….
Union City: 24% above peak, 8.3% multi decade CAGR
1995 $125,000
2002 $255,000
2004 $375,000
2006 $685,000
2011 $530,000
April 2019 $850,000
Lib there is some truth to the complaints. The boomers and Gen x drove up the housing market and property taxes in a spending frenzy. Now they are whining because millenials don’t want or can’t afford or don’t need the 4 bed 2 bath center hall colonial.
They also encouraged their kids to travel far away and wrack up big student loan debt so they could put a so called prestige school sticker on their SUV.
And they were also responsible for the BS unpaid internship of course they would have never accepted that. And if Boomers/Gen x are whining about millenials well they created them!
And these are the same people crying about being unable to afford NJ property taxes. You selfish pricks. Don’t forget, they will be crying about paying taxes on the appreciation when they go to sell their house to bail out on the tax obligation they created. Beyond selfish behavior.
Yo! says:
May 23, 2019 at 10:45 am
Union City: 24% above peak, 8.3% multi decade CAGR
1995 $125,000
2002 $255,000
2004 $375,000
2006 $685,000
2011 $530,000
April 2019 $850,000
Tepper calling it a day:
https://www.cnbc.com/2019/05/23/david-tepper-is-reportedly-converting-hedge-fund-into-a-family-office-returning-outside-capital.html
Ten Year not happy.
Now you know why he left jersey for florida…hint, it wasn’t the taxes.
Finance News says:
May 23, 2019 at 12:04 pm
Tepper calling it a day:
https://www.cnbc.com/2019/05/23/david-tepper-is-reportedly-converting-hedge-fund-into-a-family-office-returning-outside-capital.html
?היי יש לי לקוחות חדשים בשבילך יכל לעניין אותך
The Rutgers Intercampus Bus System was the busiest and most polite I’ve ever seen. Between classes, every bus was absolutely packed 110% capacity. Nobody ever tried to reserve a seat for their knapsack, no fights over someone sitting next to someone else’s girlfriend, etc.
They created them and raised them. Boomers were the first generation to start to systematically undermine the educational system as parents.
I am square in middle Gen X. You can’t blame housing bust on us. I was like 30 when bubble formed in 2003 and first time buyer in 2004. Oldest Gen X were 37 and not sure how many owned homes prior to 2000. Youngest Gen X were fresh college grads and not buying in 2003. If anything Gen X was the biggest victim of bust. Prime buying years between 2003 – 2007. This was a strictly a boomer sponsored bubble and crash.
I saw STP in 1995 and a few times after that. Weiland’s live singing ability really fell off in his later years though. But when they initially hit the scene, their first two albums blew me away. I still play their unplugged session during the commute once in a while.
Is that a euphemism I don’t know?
Chi driving mommy to JFK
Yeah!! Who’s driving mommy? I am, I am.! I’m going to drive my dirty mommy ALL THE WAY TO JFK! That was great, mommy. We haven’t done that in a while!
^^^Respectfully, I didn’t even say “cunt”, because I know chifi doesn’t like it.
I wonder how many of his suckers, I mean employees, followed him to Miami? This is why it usually does not end well chasing your company to another location. They are screwed.
Finance News says:
May 23, 2019 at 12:04 pm
Tepper calling it a day:
https://www.cnbc.com/2019/05/23/david-tepper-is-reportedly-converting-hedge-fund-into-a-family-office-returning-outside-capital.html
Bystander fair point I was referencing those born 1964/65
As Gen X. But agree primarily boomer led. I am tail end boomer and I think in many respects they have made a mess of things. People I know who were big cheerleaders of spend and tax are now crying about property taxes and they can’t get their price. And speaking of price my blue ribbony train town is still seeing prices in many instances at 05 levels.
“Now you know why he left jersey for florida…hint, it wasn’t the taxes. ”
Care to explain it? You are seriously the most obliviously stupid fcuk out there.
Tell me then why he left. And tell me exactly how many ’employees’ are screwed.
To your point, the ride is 15 minutes mostly if you pick it up uptown……when it runs right, it is like clockwork….. too short to fcuk it up.
Yo! says:
May 23, 2019 at 10:16 am
Most polite public transit behavior I’ve experienced is NJT 126 bus. Busiest bus route in country, maybe world, and passengers crowd in and ride in silence. It is a mostly Millennial bus. Riders glued to screens.
Man, what a fcuking ride on that TSLA…..I haven’t worked something this hard in a while…
Goddamn thing was down 10+ pre-market to 182 this morning, yet opens up at 194…wasn’t on pajama trader volumes either, 2.5 million shares…..7%+ moves in premarket….just crazy
Feels like I’m in bed with a teenage virgin, all rolling and spreading….
Anyway, theoretically I’m net long now around 195…not happy about it but it’s through some written puts so I’ve hedged them out further in time to give some downside protection to be able roll them down again yet preserve the final squeeze of gains out of this bitch. Out of control, lol.
I drove from CN to Brewster at midnight last night. Crashed there and we left at 7:30AM. 2 hours from Brewster to JFK. 35 minutes to get her checked in to security point….. those extra 5 minutes cost me $4. JFK to CN at 10AM in the morning took 2 hours……. fcuk me!
The Original NJ ExPat says:
May 23, 2019 at 1:05 pm
Is that a euphemism I don’t know?
Chi driving mommy to JFK
No EWR flights?
The airport is a huge positive for staying in NJ….
People born before 1960 are in a totally different position that the bulk of older Gen X’ers. A lot of people that are close to 60 or older are not as wholly red carpeted as those 70 or older, but still have some nice little perq’s. These people have house equity and frozen pensions in addition to their fully funded 401(k)’s. Anyone with a frozen pension generally has a fat 401(k) because the company was apologetic about cutting off the gravy train/umbilical cord.
The most annoying thing about 60-somethings is that they are (1) blind to their position; (2) would be selfish and completely unapologetic even if they weren’t. OK – that is kind of a counterfactual, but fcuk them anyway. selfish locusts……
3b says:
May 23, 2019 at 1:45 pm
Bystander fair point I was referencing those born 1964/65
As Gen X. But agree primarily boomer led. I am tail end boomer and I think in many respects they have made a mess of things. People I know who were big cheerleaders of spend and tax are now crying about property taxes and they can’t get their price. And speaking of price my blue ribbony train town is still seeing prices in many instances at 05 levels.
cheap jewish old lady….. JFK/LGA is MUCH cheaper than EWR….
and she has a stupid loyal son who kisses her a$$
leftwing says:
May 23, 2019 at 2:17 pm
No EWR flights?
The airport is a huge positive for staying in NJ….
He was obviously going into retirement mode. The article has now provided the evidence.
Better lesson learned here; why was Tepper living in high tax NJ all these years? He could have lived anywhere, but he chose NJ, now why? Did making money have something to do with it? Hmmm, I wonder?
Pumps is the idiot though, right?
Can we now stop using Tepper as evidence that the rich are fleeing NJ because of taxes? Boy was that theory way off.
leftwing says:
May 23, 2019 at 2:01 pm
“Now you know why he left jersey for florida…hint, it wasn’t the taxes. ”
Care to explain it? You are seriously the most obliviously stupid fcuk out there.
Tell me then why he left. And tell me exactly how many ’employees’ are screwed.
^^^^Dumbass, his $13 billion fund is 70% of his own money. And do you even understand what a family office is?
He’s not some current income spreadsheet cubicle monkey like you.
Dumbass, he is going into retirement mode….he is not looking for clients anymore. Just accept it, you were wrong.
Are you insinuating that no employees are losing their jobs? Did you miss the part in the article that stated they are currently going on interviews looking for a NEW job?
Chgo Oh I agree. I know some of those you reference and they are the biggest whiners! One thing I would add is many of these house equity people you mention don’t have as much equity as you might think I know those that fall into that category as well. It’s one of the reasons they whine so much!! Personally I believe the younger generation millenials whatever you want to call them were screwed in many respects. And screwed primarily by the boomers with some Gen x falling into that category.
random thought to st1mulate discussion…specifically not advice and I am not acting on this right now….
I’m hearing an awful lot of people complaining that this market is ‘not investable’ because it is trading ‘on the latest tw33t’. The argument is that fundamental long term investors can’t properly value a potential investment because of tw33t risk…
Oil and ten year are both on barbiturates today. Oil approaching 6% drop and $57 price. All this to kick off the driving (gouging) season.
…my resp0nse…yes, y0u can. Y0u just ch00se n0t t0 and t0 pay attenti0n t0 tw33t n0ise instead…..
meaning, it seems the market may be really 0n edge and sk1tt1sh….if y0u are (v0luntarily) dec1aring LT fundamental strategies unw0rkable and (v0luntarily) f0cusing 0n ST minute t0 minute events instead – y0u’re scared. Scared markets are n0t g00d markets.
Thr0w in the c0llapse in 0il and rates…..
As I’ve asked since last summer….any sh0rt rec0mmendat10ns?
Lefty.
I’m feeling a bit twitchy today too. This market is incredibly long in the tooth.
sorry for the four consecutive posts….was one but didn’t make it through and i decided to fight the filter….
I can now see the four words that tripped it…still have no idea what letters, fragments, or combination thereof set it off.
Fcuking thing
The ellipse is very bad.
I agree with your position, long term investors should not be paying attention to tweets….that’s suicide.
Scared markets do become the safest markets to a point. That’s why I believe the stock market has been so safe. People have been scared for years now to make moves. It prevents the market from overheating based on fearless euphoric emotions. So many people are scared of the next crash or recession, that they refuse to go all in, which makes us all the safer for it.
leftwing says:
May 23, 2019 at 2:46 pm
meaning, it seems the market may be really 0n edge and sk1tt1sh….if y0u are (v0luntarily) dec1aring LT fundamental strategies unw0rkable and (v0luntarily) f0cusing 0n ST minute t0 minute events instead – y0u’re scared. Scared markets are n0t g00d markets.
What’s funny; people are finally over believing “that this time is different” after it being wrong every single time. Now that no one believes this time is different, it might actually happen. We might be on a 15 to 20 year run with no recession. Might only be in the middle of this run…
Think about it, the only thing being overproduced in the economy is oil….and that’s a good thing for keeping energy costs down as they feed the economy. Even housing is not out of control. When is the last time housing was this controlled in pricing?
Man, I see the healthiest economy of my life. It’s not perfect, but damn is it strong in the places that count.
3:11 nonsense
Nice line of storms about to bl0w through.
https://weather.cod.edu/satrad/nexrad/index.php?type=DIX-N0Q-1-6
LOL, got awfully dark here,was wondering wtf.
Gonna get pounded…it’s ok, maybe it washes some of this pollen off my car.
“Dumbass, he is going into retirement mode….he is not looking for clients anymore. Just accept it, you were wrong.”
Ping pong….retirement DOES NOT equal Florida for him, automatically. He’s not some civil servant. And his personal domicile or physical location has ABSOLUTELY NO impact on his ability to attract outside money.
The guy has over $10 billion in INVESTED ASSETS….
That means even if he just tosses them in some BS market ETF he gets 8% long term, or $800 MILLION annually.
It is ALL about the taxes.
Priceless, penny stock boy is trying to lecture people about the motivations of hedgies.
Go back to first base. Or stay in the dugout. Even better, just leave the field altogether. You’re incompetent.
“cheap jewish old lady….. JFK/LGA is MUCH cheaper than EWR….
and she has a stupid loyal son who kisses her a$$”
LOL, been there and done that. Mom’s all proud that she saved $200 meanwhile needless extra hours of your life are shot…worse thing, the whole time you’re in the insufferable traffic they can’t stop bragging about the extra $200….ha.
What can you do, they raised us, no?
left: I’m getting very vanilla…. focusing more on beta than alpha….. domestic…..
Honestly, for some reason I’ve put on a lot of high quality corporate debt recently…. sometimes I wonder why TF I do these things….. today was shocking really….. I don’t know whether the market is pricing China properly……..
On tw33t risk….. what is the problem putting on strangles or synthetic equivalent?
leftwing says:
May 23, 2019 at 2:36 pm
random thought to st1mulate discussion…specifically not advice and I am not acting on this right now….
I’m hearing an awful lot of people complaining that this market is ‘not investable’ because it is trading ‘on the latest tw33t’. The argument is that fundamental long term investors can’t properly value a potential investment because of tw33t risk…
How? What’s being overproduced right now?
Look at auto industry…how many layoffs they have in the past year? Over hiring and over producing? Where? This time might be different, just saying…
exEssex says:
May 23, 2019 at 3:15 pm
3:11 nonsense
Lefty,
What is happening to his hedge fund? Oh that’s right, he is dissolving it, but let’s ignore that. Did you see the part in the article where it stated he wants to focus and spend time with his nfl team? This is the definition of a billionaire going into retirement mode. He is done chasing big money, and is only focused on preserving it. Stfu with your bs.
He didn’t move to Florida to make more money. He moved there to retire. He was in nj for one reason, to make money. That part of his life is over and he has moved on.. he’s done with the stress that comes with running a hedge fund.
4:27 we’re on borrowed time. Live it up!
Leave scraps for your kids. Rinse & repeat.
Short List:
Crumbling infrastructure
Pension obligation
Social Security Obligations
Tax burden
Educational crisis
Healthcare
Insurance
Etc etc
4:27 layoffs? FORD just announced 10% 7,000 job cuts .
Earlier this year GM closed a huge plant in MI.
Dodge may invest in Detroit. But, there have been cuts.
…and now for something completely different …
SACRAMENTO, Calif. (AP) – California wants to give more benefits to people living in the country illegally as lawmakers in the state Senate advanced a $214 billion spending proposal Wednesday that would expand health coverage and tax credits for immigrants.
The proposal would let low-income immigrants living in the country illegally get government-funded health coverage if they are 65 and older or between the ages of 19 and 25.
Chi, those work….
I’ve been pretty short term oriented since last August…mostly options also to quantify downside….Have a fair amount of dry powder I’d like to put to work – not getting any younger – but just not comfortable yet deploying a bunch in LT situations, even with dollar averaging, buy-writes, etc.
Unless you’re picking or trading, the market is flat for the last 16 months…I’ve put up a decent total gain since then, 1/2018, but it’s been a lot of work.
Scalped 10% on the PINS IPO….put on four identical consecutive call spreads over three weeks on LYFT, made 50% on each…couple of homeruns like TSLA, BMY/CELG, and being short going coming out of last summer; had some strikeouts including one that was entirely self inflicted (CVS) because I got greedy and let small gains turn to bigger losses….
Not even sure if this is a valid strategy but I put two situations on for longer term (hopefully) by going long the stock at 25% or 50% of the final hold position I want and writing a strangle around it. I collect the premiums from both sides reducing cost. If she pops I get called out and show a solid single digit gain for a month’s use of the money. If she stays in the guard rails I take the return and reload, no problem with that. She drops, I have the reduced cost, take delivery of the written put, and do it all over again at the lower basis. Kind of like dollar averaging on steroids.
Obvious issues are if she drops so much that any new written call would be underwater; and that this strategy may lead me into a portfolio where I’m trimming winners early and letting losers ride which is something I try to avoid…
Altogether, you can see I’m grappling to keep generating returns…I think this market has everyone fooled…so much talk about the massive run up since the beginning of the year…meaningless, unless you were nimble enough on christmas eve to go in hard.
Otherwise, pulling statements from January 2018 and comparing them to today may surprise a lot of people. Market buy and hold since then is flat. Debt may be the place to be.
“What is happening to his hedge fund? Oh that’s right, he is dissolving it, but let’s ignore that.”
He is 70% of the fund. The Fund = Him. He’s been returning outside capital for years now.
Also, I never said he wasn’t downshifting. Yes, he drops the fiduciary responsibilities of fund manager. What I said was he left NJ because of taxes. You stated he didn’t. Dumb ass ping pong nimfy fcuk.
As an aside, I should know better than to expect you to hold a single line of argument in that brain of yours that has all the foresight and logic of a common housefly.
Yes, my point exactly. How does this relate to overproduction which is what a recession comes from? They are behaving as if a recession is already here. Everyone and their mother thinks a recession is due and are acting on it. They are overly cautious because their mind can’t grasp that this run still has years to go.
ExEssex says:
May 23, 2019 at 4:39 pm
4:27 layoffs? FORD just announced 10% 7,000 job cuts .
Earlier this year GM closed a huge plant in MI.
Dodge may invest in Detroit. But, there have been cuts.
When you are making money and raising a family, those taxes are fine, otherwise he would have left a long time ago. That has always been my point. Taxes didn’t make him leave, or he would have left a long time ago. He simply went into retirement mode and did what a lot of rich retirees from nj do…move to Florida or the Carolinas. Guy owns the Carolina panthers and lives in Miami…enuf said!
“Also, I never said he wasn’t downshifting. Yes, he drops the fiduciary responsibilities of fund manager. What I said was he left NJ because of taxes. You stated he didn’t. Dumb ass ping pong nimfy fcuk.”
Since Tepper has more money than he probably needs, he may have moved for the reason he stated when interviewed, to be near his elderly mom.
No time to research investing until the summer. In the meantime, just buy Altria and Phillip Morris and collect dividends while the entire generation Z vape their way into nicotine addiction.
Pumps -ping pong song..sung by Enrique Iglesias before they cut the “woods” down.
a good 5 minute waster…
https://www.youtube.com/watch?v=UqON44CLaQM
Tepper?
Morons he now owns the Panthers now expect him on the sidelines, every Billionaire wants to be Jerry Jones.
Another rapid scroll day on the blog!