From ROI-NJ:
Is it time to reconsider regional reopening plan?
New Jersey Chamber of Commerce CEO Tom Bracken said he had little hope when his organization approached Gov. Phil Murphy’s administration about a regional reopening plan last summer. His inclination proved correct.
“It was something that we, along with other organizations, presented to the administration,” he said. “They summarily dismissed it, saying, ‘One size fits all is the way we’re going.’”
Bracken said there’s reason to hope that’s no longer the case. He feels a bill (S3093/A4910) to create Red-Yellow-Green regional reopening zones around the state — one that passed through Senate (5-0) and Assembly (11-0) committees unanimously — has a chance.
“If you listen to the governor today, he’s starting to say that things are looking a little better,” Bracken said. “And we’ve got an economy that’s in the dump. So, I think this is one way to intelligently open the economy.”
The bill, which is sponsored by Senate President Steve Sweeney (D-West Deptford), will certainly reach the Senate floor for a vote.
And, while passing the Senate — and the Assembly — is no guarantee of success (see the recent outdoor dining bill), there is one other thing that’s different in 2021: It’s an election year.
“That can only help,” Bracken said.
Christina Renna, the CEO of the Chamber of Commerce Southern New Jersey, certainly hopes. Her group also presented a regional reopening plan last summer, only to see it shot down.
The idea still makes sense to her.
“Encouraging a wider reopening of the state’s economy and caring about the health, safety and welfare of the state’s residents are not and should never be categorized as mutually exclusive,” she said. “A statewide, one-size-fits-all approach that refuses to consider the vast disparities in health metrics throughout different geographical areas of New Jersey has unnecessarily stalled portions of our economy. However, a geographic approach that collectively evaluates the health and demographic data in certain areas of the state is a reasonable method to decide where certain businesses can safely have higher occupancy rates and quicker reopenings.”
Renna, as the governor himself might say, appears to be following the data.
“This approach simply makes sense — and, if a geographic-based reopening plan has worked for many states in the nation, why can it not work in New Jersey?”
First
Meanwhile in Texas only bars are closed Texas, but thousands of them have managed to get themselves reclassified as restaurants and have reopened. It’s amazing how crowded all the restaurants and plazas were in my town when we went for a drive after a walk. It’s like January 2020 level crowds.
Pump’s favorite Gal Cathie Wood on the economy.
“I would say the monetary policy does not seem to be hinged to anything and so there are inflation risks out there with money growing at 26%”As for Wood, the question is that, will people’s money be saved so that velocity keeps going down or will we evolve into a psychology where consumers and businesses see inflation and that interest rates starts to creep up? “People would say, ‘why don’t I do this or do that before inflation and interest rates continue to move up?’. If that were to happen, then we would have an inflation problem,” she stated while also adding that it is the same as the saying that the velocity of money would be picking up as people try to get rid of their dollars as quickly as possible in order to buy goods and services before these essentials and interest rates go up. She said that if the money continues to move into asset markets, then the velocity of money will continue to fall and it will take the risk out of that 26% growth rate.
https://www.yahoo.com/finance/news/money-supply-26-inflation-coming-043054524.html
Don’t have time to post entire text.
https://www.wsj.com/articles/if-it-looks-like-a-bubble-and-swims-like-a-bubble-11611496980?st=t2ecruaw9v6yj7r&reflink=article_copyURL_share
We are getting more sunlight. In a month, it will start to warm, virus transmission is most likely down from here on out. With the large percentage of the population already infected/recovered along with the vaccinations, this virus is going to continually run out of steam heading into May. It will linger in the segment of the population that refuses to get vaccinated but I don’t forsee a fall wave this year.
I still say the goal should be to vaccinate everyone over 60. Biggest problem is, you have to sign your parents up as they aren’t technologically adept enough to continually hit refresh and fill out the forms like you are buying Bruce Springsteen tickets online. We managed to get my in laws their first shot for tomorrow. My mother is also registered for the same spot. They couldn’t get it done themselves.
A bunch of teachers got emails that they can now register. We all watched the website on Friday expecting it to go online. The end result, half of my building, including myself snagged an appointment. A bunch of twenty somethings/thirty somethings straight to the front of the line. I think they should just reserve half of the shots for walk ins over 60.
BRT – Teachers are not in 1B. Did the governor go off script?
Nobody has a clue. But half the people in my building got an email, the other half did not. So everybody decided it was a go. Basically, we were all like, “I guess they should have sent it out to everybody but who’s going to wait for Murphy?”.
NYC welcoming committee.
https://nypost.com/2021/01/24/nypd-releases-video-of-attackers-who-beat-and-stripped-man/?utm_source=twitter_sitebuttons&utm_medium=site%20buttons&utm_campaign=site%20buttons
The 70s are back.
Do you guys remember when if you left your car when it broke down, when you came back after walking to a gas station to get help, you would usually come back to the frame of your car up on blocks? https://www.boweryboyshistory.com/2014/09/new-york-citys-stripped-and-abandoned.html
Lib I remember batteries being taken, and one time my front grill. No damage to the car just wanted the grill. Could not find a replacement for it, so just drive around without it. And everyone had The Club!! And you always took your tape player out of the car; if not almost guaranteed it would be gone next morning.
BRADY=GOAT
The Pack isn’t down just yet.
done, not down
lol, the removable stereo, forgot about that crap. I remember when I installed a new stereo in my mustang, the original had two compartments. One for the radio/tape and the other for the CD. But the new unit was removable face and single unit. I left the bottom compartment empty. It got hot as hell in there from the residual heat from the engine. When I used to pick up Taylor Ham Egg and Cheese up prior to work, it was a 15 minute drive until I made it to work. I used to put it in the foil in that compartment and it would keep it nice and hot until I arrived.
https://www.timesofisrael.com/israel-sees-60-drop-in-hospitalizations-for-over-60s-in-weeks-after-vaccination/
Vaccines are quickly averting serious cases of COVID-19 among the most vulnerable members of society, an Israeli healthcare provider has indicated.
The full effects of Pfizer’s vaccine are only slated to kick in around a month after the first shot, but data from Israel, home to the world’s fastest vaccination drive, has already shown that there is a stark drop in infections even before this point.
Attracting widespread international interest by sharing early data, Maccabi Healthcare Services reported earlier this month that it has seen a 60 percent reduction in coronavirus infections three weeks after the first shot is administered.
GME rocketed this morning, should be an interesting day.
“the stock soared to $136.63 in U.S. premarket trading on Monday, before paring the advance. It traded at $96.61 as of 6:25 a.m. in New York.”
Dumb fcuks told all of their members to vote for Biden
https://twitter.com/liuna/status/1351680949239615488?s=21
With the large percentage of the population already infected/recovered along with the vaccinations, this virus is going to continually run out of steam heading into May.
I hope so.
Juice, so our ‘friend’ who I presume is still holding all of his GME is up, what, another $4m at least this morning on his $47k investment….
I’m a dinosaur, LOL.
Left -There are no calls available beyond Jan 29 $115, so all calls will be ITM.
Perhaps another massive squeeze today.
Crying now for more regulation, Social Media is just too dangerous.
” market makers unable to pass the risk”
“There’s been an awakening. A large group of retail traders have realized if they work together, using market tools such as out-of-the-money call options or low-float stocks, they can overpower any institution or short-seller in the world, outside of the Fed, of course.”
“What becomes of a name like GME if we take away the gamma squeeze? Now amplify that. Multiple market makers walking away from multiple stocks.
Will it happen? I hope not, but we’re all now involved in a very dangerous game.”
I wish I knew more of what this GME squeeze is but I’m simply a passive investor.
Eddie – The markets overall at these levels, lots of dumb money making a killing.
GME & the mechanics of the market. Going to be a tremendous blowup, for several hedge funds and possibly a market maker have to cover by buying the stock at current prices.
According to Burry, if my memory serves me correct, the stock was at 50% book value and they had the ability to buy back a huge portion of their company. Burry was predicting a massive short squeeze at some point.
Seeing people posting multimillion dollar returns on a $1000 worth of out of the money calls in this inflationary fed pumping environment makes it a very attractive bet. Nassim Taleb said that he was hedging for hyperinflation buying a group of way out of the money calls.
GME halted..too much pain..
I said it on here a few times already, but I will say it again… The Buffett’s are getting their a$$ handed to them going against the new retail investor. The avg retail investor is much much smarter than yesterday. The big boys try to use their old tricks to shake the tree, and instead of the avg investor fleeing, they buy up the attempt at shaking the tree. A whole new world out there in the investment community. The game has changed.
“There’s been an awakening. A large group of retail traders have realized if they work together, using market tools such as out-of-the-money call options or low-float stocks, they can overpower any institution or short-seller in the world, outside of the Fed, of course.”
Pumps – re: The Game has changed. Not really…Remember what I said about the rising tide? Everyone that has a boat is getting a free ride in the markets, only those that don’t are drowning.
Case in Point. Los Angeles could have a 100,000 people living on the street soon.
Over the next four years the current Pandemic Recession is projected to cause chronic “homelessness to increase 49 percent in the United States, 68 percent in California and 86 percent in Los Angeles County.”
https://economicrt.org/publication/locked-out/
Yea, I understand and agree. You have to be invested as capital is beating the hell out of labor. I’m just pointing out that retail would never have been able to pull off these moves in the past.
I said it on here a few times already, but I will say it again… The Buffett’s are getting their a$$ handed to them going against the new retail investor. The avg retail investor is much much smarter than yesterday. The big boys try to use their old tricks to shake the tree, and instead of the avg investor fleeing, they buy up the attempt at shaking the tree. A whole new world out there in the investment community. The game has changed.
Berkshire doubled over the past 5 years. You think at age 90 he finally figured out how to lose?
GME like a rocket @ $138
Pumps, hurry up, get in…it’s gained more than ARK ever has in 2 days!
Here is my call…….(NO ONE HAS SAID THIS….look for news stories over the next 10 weeks or so)… over this weekend and into early next week a good number of these new retail traders will begin to receive their first 1099’s of their lives.
“oh sh!t I have to a pay tax on this?” “But I already spent ALL the gains and the rest of my cash is tied up in stocks options and stuff.”
It is not a deal breaker, but there is going to be an underlying pressure on the market until 4/15. We’ll see how pronounced it is.
As a philosopher once said “lather, rinse, repeat”.
And it’s gone!
You know what I am saying. I’m not the only one saying it.
“Berkshire doubled over the past 5 years. You think at age 90 he finally figured out how to lose?”
Again, I didn’t jump into ARK because I’m chasing past gains. I’m betting long term on disruptive innovation. If she sticks to this model, I will not jump off.
BRT says:
January 25, 2021 at 10:44 am
Pumps, hurry up, get in…it’s gained more than ARK ever has in 2 days!
Chi,
I believe you are dead on. Nice job if it holds true.
“The avg retail investor is much much smarter than yesterday.”
Nope. There are simply too many retail investors who have entered the game via $2600 in unnecessary stimulus checks who were too young to remember the tech bubble bursting. It’s really that simple, IMHO.
Things getting more surreal by the day. Wapo caught purging unflattering coverage of Kamala. Did they get a notice from the ministry of truth?
Chi,
I wrote this long before your call on gain tax ignorance.
Got sidetracked and never hit enter.
I trust Hunter, he’s the smartest man I know- Joe Biden
Hunter started banging his dead brother’s wife, got her hooked on crack, then cheated on her with a stripper. THe stripper got knocked up and hunter refused to support the child until he was forced to divulge his tax records.
This is the illegitimate president’s family. Classy
O’Biden’s first 100 hours in office:
1. 70,000 jobs gone, 250,000 hanging by a thread.
2. Women sports finished.
3. Left the national guard to freeze in a garage.
4. Invaded Syria.
5. Admitted he doesn’t have a plan for COVID-19.
6. Ended US energy independence.
7. Broke his own mask mandate.
I also loved the scene where someone said in his ear piece, “salute the Marines,” giving him a directive. Instead of actually saluting the marines when walking by, he uttered the words, “salute the Marines.” How long can the media protect him?
Lib: I am hearing parents now recommending their kids pay 500k crap shacks with 12 to 15k property taxes. Rates are so low!! Hurry, hurry!!
Traitor Eddie, I won’t reply to you, as you have Putin’s weenie so far up your gazoo.
https://twitter.com/DWUhlfelderLaw/status/1353495668304850953?ref_src=twsrc%5Etfw
GME . . .
Pardon my ignorance, but I have a quick question for the Wall Street guys on this site.
GME had a really crazy minute of trading today. At 10:47 a.m., according to the chart I see on yahoo finance, the price of the stock varied from $159.18 to $132.32 (where it was halted). The volume of that minute was over 1m shares, but the minute before was over 2m, and for a few minutes beforehand, it was over 1m shares also.
The chart obscures what happened a bit, because I was watching the price movement at the time and it was $159 -> $132.32 in about one second.
I’ve never paid attention to a crazy high-volume name-of-the-day, so I’ve never seen a movement like that (except on earnings, merger, or other big news).
Why did the price fall so suddenly? Is it an algo flash crash or is it just that some huge institution sold a whale-sized block of shares all at once?
Eddie All of those issues justify closer just as the election.
In particular I would love to hear why the national guard was told to sleep in a parking garage. Did they not pass the Soviet loyalty test?
It was reported the Biden inauguration people were working with Facebook etc. to weed out the unreliables. Maybe Biden will come up with a woke oath for anyone who wants to serve him to prove they have been politically indoctrinated
Eddie, how about Biden announces he will criminalize political differences and launch an unconstitutional inquisition against trump voters? Let’s not pretend like he didn’t.
Personally, I stay away from all of that crap crushed.
Meanwhile, in the past month, my silly little undervalued (and still undervalued) pet and landscaping company (CENT) is up a mere 17.5%. For comparison’s sake, the major indexes are up 2.2 to 6% for the same time period. And risk? Well she has grown earnings (not sales) 21% per year for 5 straight years. Last quarter she surprised analysts by a mere 550%. TTM P/E is 19. Almost no debt and insiders hold 15% of shares. Enjoy your TSLA.
It’s the National Guard. A night on the floor should prepare them for the upcoming battle with Trump’s Patriots. TP for short.
GOAT,
The saddest thing is those who believe the democrats actually care about minorities or people’s plight overall. Human shields, nothing more. Listen, we all know this election was rigged. That capital thing was full of crazies, for sure, but behind the scenes, there’s a quiet resistance building up. The left is going to face a reckoning beyond belief. The only thing I’m surprised about is how quickly the bottom is falling out of the O’Biden regime.
And now for a REAL question for the tax experts here.
I have an 80K HELOC (5.25 APR) that was supposed to be a bridge loan to pay for D’s school/lawyer costs while we waited for our judgement. It was supposed to take 45 days by law. We are approaching two years now, but we are close to the light now. With that said, I’ve paid off $10,000 of it (ten-year term) and there is no penalty for early payoff. If I had any idea the case would have taken this long, I might have considered an alternative, but who knew? Nonetheless, I’m glad I didn’t touch my investments to pay for the case, since I had my best year ever.
Well, the judgement should allow us to pay off the entire loan and then some. Due to a loophole, although Trump maxed the property tax deduction at 10K and reduced the mortgage interest deduction from 1 million to 750K, our mortgages are tiny so this won’t negatively impact our ability to deduct interest on the HELOC if used for home improvement.
I’m guessing it’s a no brainer, but our plan is to pay off the 70K HELOC and then reuse the line of credit again for some much needed home improvement. Though we’ll pay 5% interest. There won’t be any origination costs. Though our home is currently 2,300 square feet for the 5 of us. We only have one full bathroom (plus one half) and my BIL currently resides in the basement. We plan to bump out the back of our third floor giving us more ceiling clearance to be able to build a proper master bedroom/full bathroom and walk in closet. Currently, we have a gable roof, but the height is only 7 feet for about 10 feet across the center. So it feels like a barn roof as it arches down to the walls. Though, one typically only gets back about half the cost of the improvement when it’s a BR/Bath, it make our house infinitely more sellable. Especially the second bathroom. Best of all, the tax hit won’t be too bad because we are not adding any liveable space. Just 3 more bathroom fixtures, which is tiny, when you consider our tax assessment is almost entirely on the land.
When we are done, the basement can be returned to the mancave it was recently finished to be. the BIL moves into our current large bedroom and shares the bathroom with the other two boys. Gator and I get a proper master bedroom and bath to all of our own. Ultimately, we get most of the cost of the addition back when we sell in the next 3 years.
Does this sound like the right way to do it?
Crushed no way of knowing, who sold what and how many shares.
If you took the time to review the tape you will see lots and lots of small trades with some in the few thousand share range. Huge volume today and the robots have bought and sold the active shares multiple times today, and shares do change price multiple times a second. Price dropped 42 cents then went back up in only to go back down again, all in the same second. This is how it usually ticks along on high volume stocks, bid is lower it drops ask it higher it rises all in the same second of the day.
Example from the Peak today for just a fraction of a second.
NLS Time (ET) NLS Price NLS Share Volume
10:47:06 $ 157.76 300
10:47:06 $ 157.77 100
10:47:06 $ 157.95 150
10:47:06 $ 158.285 2,300
10:47:06 $ 158.285 1,100
10:47:06 $ 158.285 200
10:47:06 $ 158.00 100
10:47:06 $ 158.00 100
10:47:06 $ 158.00 110
10:47:06 $ 158.02 100
10:47:06 $ 158.315 100
10:47:06 $ 158.01 100
10:47:06 $ 158.32 100
10:47:06 $ 158.29 100
10:47:06 $ 158.53 500
10:47:06 $ 158.00 100
10:47:06 $ 158.285 1,000
10:47:06 $ 158.03 200
10:47:06 $ 158.45 100
10:47:06 $ 158.34 100
Lib – re: “Trump maxed the property tax deduction at 10K”
There is talk of changing the law again the SALT deduction cap, House passed it last session but the Senate did not take it up.
Chucky Schumer controls the Senate calendar now, we could see the deductions come back.
Recent news.
“Senator Chuck Schumer of New York, who will become the chamber’s majority leader thanks to the victories of Raphael Warnock and Jon Ossoff in this week’s Senate runoff elections in Georgia, said last year that abolishing the SALT deduction cap would be among his top priorities.
“When we get in the majority we’ll do it permanently,” Schumer said at a press conference on Long Island in July. His office didn’t immediately respond to a request to comment.”
Things getting more surreal by the day. Wapo caught purging unflattering coverage of Kamala. Did they get a notice from the ministry of truth?
There was something similar when Warren was running. I think it was Dateline that scrubbed any existence of one of her interviews. If the media doesn’t want us to believe they are biased, maybe they should stop running cover for politicians.
When asked about the thousands of lost (XL pipeline) union jobs last week, Transportation Secretary nominee Pete Buttigieg claimed the decision was part of a broader plan that would end up being a net positive for employment.
“We are very eager to see those workers continue to be employed in good-paying union jobs, even if they might be different ones,” Buttigieg said.
“I don’t consider this a job, I consider it a career,” said (Union foremen) Neal Crabtree in response to the statement. “You spend a lifetime fine-tuning your skills and if you go start another job you’re starting at the bottom. I doubt that these politicians would like it if someone told them to go start over and find a different job.”
You know what I am saying. I’m not the only one saying it.
No, I actually don’t. You want to proclaim a guy who became one of the richest people in the world behind the curve when he’s literally found a way to win from age 20 to age 90.
When asked about the thousands of lost (XL pipeline) union jobs last week, Transportation Secretary nominee Pete Buttigieg claimed the decision was part of a broader plan that would end up being a net positive for employment.
“We are very eager to see those workers continue to be employed in good-paying union jobs, even if they might be different ones,” Buttigieg said.
“I don’t consider this a job, I consider it a career,” said (Union foremen) Neal Crabtree in response to the statement. “You spend a lifetime fine-tuning your skills and if you go start another job you’re starting at the bottom. I doubt that these politicians would like it if someone told them to go start over and find a different job.”
They can learn to code
Anyone know a good cheap architect?
BRT: They can wash old people. That’s a response I have heard from
Some elitists in the past. It was nicer than that, but essentially that’s what they meant. Of course it would be beneath them to do that.
Juice: Regardless of what Schumer says, I think he will be hard pressed to want to undo Trumps SALT limitation. It brings in lots of money to the government.
Fast Eddie, honest question…
I see you here day after day griping about “the left”. Most recently about the 70,000 jobs lost because of “O’Biden” (dubious number but let’s go with that).
When will we ever see you dedicated the same energy to denounce the various oligarchs who ship multiples of that number of jobs to other countries, or simply automate them out of existence? Are they S0cal1StS as well?
Was the de-industrialization of this country a Dem-only affair or did Saint Ronnie and other Reps have something to do with it as well? Just tryin’ to understand…
What about the financialization of the real economy? Did the C0mm13 Democrats do that too?
Personally (and selfishly), I have rarely taken the standard deduction since I’ve been in college. Pretty much, all of the changes in the Trump tax act of 2017, were to drive people into taking the standard deduction. Of course, except for those who own businesses where most of the same old loopholes were left open (the wealthier). For those in an LLC, there is no limit.
AP,
https://www.cbsnews.com/news/trumps-trade-war-squashed-an-estimated-300000-jobs-so-far-moodys-estimates/
This too, will be ignored. Not to mention the huge cost of subsidizing farmers, fisherman, etc.
Lib, very interesting, right?
I wish I had any reason to believe that one party, or even one politically position, had all the answers. It would be so easy to just pick one and never have to worry again.
Unfortunately the real world is infinitely more complex than any “closed system” philosophy, or political program. And so we are left here, the average salaried folks, scrambling to make sense of it all, and to build complex lives with some dignity.
One of Trumps main attractive policies were the fact that he was determined to end outsourcing and force companies to produce in America. Lib, I’m not buying the analysis that tariffs were a major job killer. First off, they don’t specify where, second, they try to say, despite record low unemployment at the time, it would have been even lower. They are assuming everything else was static, which is what economists love to do. Yes, the farmers were subsidized, and for good reason, to avoid collateral damage.
There is a big difference. 1, these unions endorsed Joe. 2. Joe just decided to legislate away their jobs with the stroke of a pen. This is the consequence of misguided policy, and we can argue whether or not Trumps policies did result in job losses. I don’t think they did and you are free to think they did. These jobs were literally just cancelled.
But save the planet right? Trucks and trains over a pipeline. If Biden does anything good, I’ll acknowledge it. Cancelling the pipeline was just dumb.
AP: both parties are equally guilty. I have been saying it for years. The Democratic Are Judy more hypocritical in my opinion, with their faux concern about the little guy. Build it back better?? Really Joe, were you concerned all the years in D.C. when the jobs were being sent overseas?? No. And you were the Senator from Delaware, no more needs to be said as to who you answer to, and it ain’t the little guy!
3b, what bothers me is that it’s not even just the two parties.
Even if there was a new, third party, it would still exist in an environment where greed rules the day, I’m afraid.
I don’t think these things will be resolved in our lifetime. Sometimes I think all we can do is to educate our children to try and be good people.
AP: Agree, but at least a 3rd party might help to keep the other two in check . Who knows? But I think it’s worth a shot. Right now the whole Republicans Democrats thing is a joke. As you say all we can do is teach our own and lead by example.
3b, “all we can do is teach our own and lead by example”
That may be the most important contribution to society anyone can make at the end of the day : )
Juice is mostly right, but I’ll toss out random guesses. Pure guesses. No basis in any fact or reporting…… there will be some main stream reporting on this issue soon.
1. bid stuffing by computers where bids are put out there and trades are posted, but the intention is to deceive and eventually the trades are cancelled.
2. delay in trade posting, so sometimes the ticks are posted in a sequence, but it is a communication delay or possibly and execution delay that causes information to be out of the order of the true market flow.
To be clear, I don’t know sh!t
crushednjmillenial says:
January 25, 2021 at 12:33 pm
GME . . .
Pardon my ignorance, but I have a quick question for the Wall Street guys on this site.
GME had a really crazy minute of trading today. At 10:47 a.m., according to the chart I see on yahoo finance, the price of the stock varied from $159.18 to $132.32 (where it was halted). The volume of that minute was over 1m shares, but the minute before was over 2m, and for a few minutes beforehand, it was over 1m shares also.
The chart obscures what happened a bit, because I was watching the price movement at the time and it was $159 -> $132.32 in about one second.
I’ve never paid attention to a crazy high-volume name-of-the-day, so I’ve never seen a movement like that (except on earnings, merger, or other big news).
Why did the price fall so suddenly? Is it an algo flash crash or is it just that some huge institution sold a whale-sized block of shares all at once?
Sometimes you feel like you could fly away….
Sometimes you get lost:
https://youtu.be/aqxywPYRCbI
Biden says a 1.5 million a day.
Pfizer says it’ll take 6 months to ramp capacity.
Who is right?
I think we need 4 political parties. If the greens & libertarians could get going, I think we could find a nice balance between sensibility, policies that actual represent the citizenry, social safety net, and limited government. You are right, it will never happen.
Men who voted for O’Biden:
https://tinyurl.com/yxhy5ekb
Good Cheap Architect is an 0xym0ron.
For what you are doing do you really need an Architect? If its just a 3rd floor dormer and a bathroom, pick your builder and let them handle it. The builder is more important. The castle across the street from me, has a great deign, but the builder was garbage. Unless you are really worried on how your roofline is going to look, or you are moving a lot of walls and flow, you don’t really need the architect.
This is like plumbing and electrical work. What you really need is the stamp on the blueprints the Building department will accept. I used to have a builder (he retired) that did his own blueprints and got a PE to sign off on the designs and the load calcs.
Eddie,
Thank you for my only laugh of the day.
National peak/plateau?
https://covidtracking.com/
Thanks Fab,
I do know that. The bigger issue is figuring out how to make the stairs not get in the way of the plans. Heck, I drafted and submitted all of the plans for the 50K worth of initial renovations with the town. Just had to rough out where the electric and plumbing was running in a massive kitchen reno.
GME to the moon!
https://seekingalpha.com/article/4400940-gamestop-will-soon-see-second-wave-of-short-squeezing
Gamestop is a symptom of the idiocy of Robinhood day traders.
Go long Blockbuster.
“chicagofinance says… over this weekend and into early next week a good number of these new retail traders will begin to receive their first 1099’s of their lives.”
Very good call…I saw this when I dipped a toe into bitcoin in its late 2017 runup. There was literally nowhere to go for good info, institutions weren’t covering it unless as an anomaly. That was my first introduction to reddit. I remember following it on there, so clearly that I can recall exactly where I was sitting as the realization among this crowd settled in that taxes were due in 2018 for 2017 activity. Big debate that boiled down to “seriously, we really have to pay?”. I watched real time day by day as the knowledge spread and bitcoin declined. No way to run a regression but R-squared had be close to one….
No, the real question….how to trade that thesis now? I suspect the GME/KODK/TSLA etc. crowd are exactly the same, if not the same people.
What do they sell to pay the taxman?
Grim, they caused Steve Cohen to lose allot of money. There are some bad actors out there for them it’s heads I win tails you lose, they also get bailed out time and time again. I think it’s funny that a bunch of kids are leading the charge on social media to stick it to them, however it’ real traders are causing the pain and the losses losses reported were 2.7 billion per WSJ as of Friday.
Still it’s NOTHING compared to the losses of anyone who dared short the Cult of TESLA.
crushed, in addition to the good comments above on your question I would add…
One of the main short players who was getting absolutely hammered was thrown a lifeline by two of the largest hedgies yesterday. Melvin Capital, down likely 30% so far this year (!) on his shorts, got $2.75 billion yesterday from the industry rock star (Steve Cohen) and Citadel to backstop him. Basically, the cavalry arrived, and runaway gamma at $150 share price may have been the front….
Also, volume at the highs was very thin….quick glance I see less than 10 million shares of up volume above $134 with almost no down volume on 178 million shares traded overall…other people here are better at reading tapes but that share price high on such low volume was fairly ephemeral and may be due to some retail pile-on with market buy orders and no offer depth as the stock rocketed after open…..
Please don’t use market orders on highly volatile stock or any options…..
Interesting potential SCOTUS case that may have huge ramifications for NYC commuters here:
https://twitter.com/TalkMullins/status/1354055626675146755?s=20
@TalkMullins
NH v. MA: Roughly 84,000 NH residents used to commute across the border to MA for work, but due to the pandemic, now work remotely in NH.
@MassGovernor
thinks he’s still entitled to collect MA income tax but NH
@GovChrisSununu
says no. A case SCOTUS will soon decide.
@RealAmVoice
“Things getting more surreal by the day. Wapo caught purging unflattering coverage of Kamala….There was something similar when Warren was running.”
The Left relies upon faux moral high ground as a tool in its arsenal for control. Shaming backfires when their hypocrisy and weaknesses are exposed.
The NYT has moved from the paper of record to broadsheet and is rapidly hurtling to a (bad) blog…I’ve seen real time during the day major changes to articles including headlines and lead-ins with no journalistic correction notations whatsoever…
I’ve mentioned this before…find the NYT published photo of Obama in London…goofy, tourist shot alone in front of 10 Downing, big ears, poorly fitting suit, weird posture…looked all the world like an undergrad’s tourist selfie of his first overseas visit during sophomore year…not the image you want projected….I can’t find it easily….
Or how about that liberal icon Tina Fey…you know the one who hit DJT so hard for mocking a disabled reporter…she was unknowingly caught on a hot mic/camera mocking IIRC Fox reporter Greta Susteren’s Bell’s palsy type droopy lip….Or better, let’s watch those episodes of Fey’s 30Rock (in which she starred and wrote) that featured blackface…oh, that’s right, they’re gone……
One tool……https://archive.org/web/
The irony in this…
The same games cohen used to run are now being played against him and the likes of him.
Reddit groups and the like, are no different than the “insider” boys club advantage that the big boys on wall st used to have. The power to move markets in their favor. I’m sure the big boys will come out on top in the long run, but it’s nice to see them get a taste of their own medicine.
Juice Box says:
January 26, 2021 at 7:46 am
Grim, they caused Steve Cohen to lose allot of money. There are some bad actors out there for them it’s heads I win tails you lose, they also get bailed out time and time again. I think it’s funny that a bunch of kids are leading the charge on social media to stick it to them, however it’ real traders are causing the pain and the losses losses reported were 2.7 billion per WSJ as of Friday.
Still it’s NOTHING compared to the losses of anyone who dared short the Cult of TESLA.
“Many U.S. consumers are starting 2021 flush with savings likely to help fuel the economic recovery this year. The latest federal Covid-19 aid package sent $600 checks to many households that also received relief money last year, while more affluent households have built up pools of cash by curbing their spending during the pandemic. Americans saved $1.4 trillion in the first three quarters of 2020, or about twice as much as in the same period of the prior year, according to analysis by Berenberg Economics. That amount is equivalent to nearly 10% of 2019 household spending. Berenberg’s chief economist, Holger Schmieding, says once business restrictions are lifted and people feel it’s safe to go out again, “there will be a lot of spending—my guess is the beaches will be crowded, the pubs will be crowded” and “by May and June it will be in full swing.””
“The Federal Reserve Bank of New York found that consumers socked away more than a third of the first stimulus checks. The survey also found that consumers expected to spend an even smaller share of future stimulus payments, and use a higher share to pay down debts, Harriet Torry reports.”
Agree it’s nuts these kids on a phone app can move certain stocks. But they do.
I played their game by sh0rting (through opt1ons) their runups…my cr1m1nals in R0chester were among my best trades last year and the prior year TSLA with the CEO unleashed and a bad balance sheet was up there….
I’d be lying to say I haven’t h0pped on their tra1n, long, recently though….not with real money but still…..I view it similar to putting together a three leg par1ay of +105 l1nes to get a +1800 pay0ut….makes no sense but how the fcuk can you pass it up?
Pumps – “pay down debts” “consumers expected to spend an even smaller share of future stimulus payments, and use a higher share to pay down debts”
We cannot allow that to happen, the money must be spent. Paying down old debt does nothing to juice the stock market. When rates are this low people must borrow and spend. We cannot have them paying down debts, the FED has the bankers backs they are TBTF, the money must be spent. Get Joe Biden on the phone now!
Watch what happens next, with the Stimulus Campaign Promise. Biden already changed his tune, he is open to “negotiate”.
It seems the Democrats wanted to give $10,000 to a family of five with less than $150,000 in income.
“The CASH act”
https://www.crfb.org/blogs/would-2000-stimulus-checks-go-six-figure-households
It’s been a while, a very long while since I’ve invested in the emerging markets. I really think we are on the cusp of a major market correction. With that said, I’ve begun diversifying my portfolio to protect against it. At this point, I’m much less concerned about missing some monster gains in return for significantly lower risk and capital preservation. I’ve seen this exact game play out before. Last time it was the late 90s.
Anyone notice what appears to be early signs of inflation? Gas in Union (where it’s usually pretty cheap) is up about 30 cents so far. Super market prices, especially meats and seafood, are easily up 20 percent. Heck, a medium coffee at Dunkin’ is just about $3 now. Even bond yields are moving up in systematic fashion. Keep in mind, we have not yet paid for Covid. Whether your state is borrowing from Wall Street or the Bank of Biden, that missing revenue has to be paid back. Then there is the 8 trillion here, on top of the debt to GDP now at 136%!
Gamestop is correct.
Here being https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
Lib: I just noticed that with chop meat the other day. Basically $5.00 for a pound. Gas too as you note is going up.
Nothing to see here either:
https://www.thebalance.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287
“It’s been a while, a very long while since I’ve invested in the emerging markets. I really think we are on the cusp of a major market correction. With that said, I’ve begun diversifying my portfolio to protect against it.”
Share?
All disclaimers accepted of course….
https://tradingeconomics.com/japan/government-debt-to-gdp
https://i0.wp.com/money-side-up.com/wp-content/uploads/2020/09/nky_ind.png?w=746&ssl=1
Meat who needs cows? Go GREEN Already..
BYND 213.27 USD +54.54 (34.36%) Beyond Meat Inc
Speaking of Gas. I barley drive my car, battery was drained this morning, and it would not start. Running the charger on it now, but you never know I may have to roll up my sleeves and replace a car battery myself.
LOL, I get the debt point Lib, was looking for your inflation plays….
And, yeah, I’m seeing it too…
Agree.
Is it time to turn to real estate as an inflation hedge? Not enough supply, so should be good on that alone. At least it sounds about right, but not sure.
leftwing says:
January 26, 2021 at 9:32 am
“It’s been a while, a very long while since I’ve invested in the emerging markets. I really think we are on the cusp of a major market correction. With that said, I’ve begun diversifying my portfolio to protect against it.”
Share?
All disclaimers accepted of course
Leftwing,
This is not a get rich quick scheme. It’s an avoid going poor plan. I like XSOE, especially among the backdrop of governments needing to go a bit leaner to get on better financial standing post Covid. Plus VWO, the big guy, for the dividend and impossibly low cost ratio. Though, it’s gotten a little tech heavy, so I’m 3:1 between those two.
I am not do anything special. Just diversifying my portfolio three ways for protection. Geographically, by sector mix and by business size. Keep in mind, I did 35% last year by making a rather large bet 80%, on large cap growth and 20% in the S&P 500 (had to go into the big guys knowing the little guys would get eaten alive by the big guys during Covid). I also invest my BILs savings and he did even better!
My only fear is the pent up demand, from everyone being locked down. There will probably be solid of year of spending first, before people tap out to pay the bills before a meteoric rise in taxes to pay for this years cools things down. My spidey sense tells me the forward looking market is currently pricing in the year ahead, but it will rapidly price in the leaner times ahead of it soon enough. I’m pretty sure this is what the old guys are saying too, especially in light of the upcoming unnecessary stimulus. Want to see the house burn down? Throw so much wood on the fire that the creosote on the chimney walls ignites.
This is where I’m guessing we are going. No more big bets for me. Back to the boring days of juicing mainly a diversified basket of ETFs (used to be mutual funds) with a few index beating stocks (hopefully).
3B,
Chop meat is absurd right now. Of course the price varies with the fat content, but I could get the 80/20 for $2 pound in the family pack on sale at Shoprite in March. I just looked, it’s $3.59 a pound. Though brisket, for some reason, is impossibly cheap at Walmart. I just picked up an 18 pounder for $2.92 a pound. Pastrami time!
It seems the Democrats wanted to give $10,000 to a family of five with less than $150,000 in income.
Remember when a stimulus check was $300?
Juice: I ain’t eating no fake meat!
3B – It’s Beyond Meat in a Pepsi Can.
Meat in the Can!
Coronavirus curfew riots in the Netherlands
https://m.dw.com/en/netherlands-another-night-of-riots-over-coronavirus-curfew/a-56341554
Meat in the can… next thing you know, they’ll be putting pancakes in a can.
Grim, they caused Steve Cohen to lose allot of money. There are some bad actors out there for them it’s heads I win tails you lose, they also get bailed out time and time again. I think it’s funny that a bunch of kids are leading the charge on social media to stick it to them, however it’ real traders are causing the pain and the losses losses reported were 2.7 billion per WSJ as of Friday.
Still it’s NOTHING compared to the losses of anyone who dared short the Cult of TESLA.
I knew Stevie’s daughter. If you heard her stories, he was the biggest POS ever. So is his wife. He deserves to get his butt handed to him by the markets. These reddit kids are funny. I guess they realized that they have the power to squeeze people out of investments just like these institutions regularly do.
Chop meat is absurd right now. Of course the price varies with the fat content, but I could get the 80/20 for $2 pound in the family pack on sale at Shoprite in March. I just looked, it’s $3.59 a pound. Though brisket, for some reason, is impossibly cheap at Walmart. I just picked up an 18 pounder for $2.92 a pound. Pastrami time!
If you grind it yourself, brisket makes a fine ground meat. Pat La Frieda basically wrote the book on grinding meat. He’s pretty much the inventor of the chuck, brisket, short rib blend. At shop rite, if you buy his preformed patties, they are that blend and they are phenomenal. I actually buy it any time I need ground meat for anything.
You should check outside skirt steak at Shop Rite. For some reason, they’ve put the wrong price tag on them the past few months and it hasn’t lined up with their normal price or the price listed on the shelf. Traditionally, they sold it for $14.99 a pound but and it still says that on the shelf but the stickers ring up $8.99 a pound right now.
Now billionaires are on the reddit side of the trade:
Chamath Palihapitiya
@chamath
Lots of $GME talk soooooo….
We bought Feb $115 calls on $GME this morning.
Let’s gooooooo!!!!!!!!
“Investor” today: cryptocurrency and game stop stock. Put profits on a new Tesla and “rare” sneakers.
Tomorrow: howls of pain and asking “where’s mah gubmint bailout”
Speaking of the idiocy of the reddit boys. My 15 year old son has been following them for years. He has witnessed and attended many of my investment club meeting during his short lifetime and often shares with me the trending stories over there. Nothing shared here, has he not told me about already. To prove to him that there are hundreds of losers for every winner over there, I let him open up a Robinhood account and he got $5 worth of a mining stock for free. He watched it fluctuate from $4 to $6 in the first couple of months. I told him, add 7 or 8 zeros in front of the decimal and now you are a hedge fund manager. I told him, if he can successfully get it to $10 in under a year, that he’ll have done better than 99% of Wall Street. He is waiting for the right Reddit trend to jump on. He’s been waiting for about 4 months now. He makes me very proud. I’ll let you all know how he does.
Shoprite ground beef is the worst.
You can never make a medium rare burger with it. Just turns grey and tastes like dog food.
BRT,
I often buy the LaFrieda patties and they are really, really good. They don’t sell well, so when they go 2 days before expiration, they are often yellow tagged for either 20% or 33% off. When it comes to burgers or sausage, you can’t really discern the difference between week old meat and two week old meat. I always freeze it anyhow, which makes the burgers stay together a bit better on the grill anyway. Appreciate the advice though. Most people don’t know it, but most of the best steakhouses in New York serve LaFrieda burgers. Few advertise it, but you can always see the trucks doing their deliveries.
D-Fense,
I use SR ground beef, mainly for meatballs and other recipes (tacos, meat sauce, etc). For burgers, I swear by the Restaurant Depot. Frozen beef 80z chuck patty is $29 for 10 lbs. It’s not quite Pat Lafrieda, but it’s better than any other pure beef burger that I’ve ever had by leaps and bounds. I’m guessing it’s about 83/17.
I recommend LaFrieda’s book on Meat. He goes through just about every cut on Beef, Pork, Chicken, and Lamb. Basically, he rewrote the book on meat blends for ground beef. Traditional ground beef is just low end cuts.
After reading it, I started experimenting and I make a burger blend that is 25% Bison outside skirt, 50% cattle short rib, 25% cattle chuck. It has the beefiest flavor I can get with enough fat to keep it juicy.
He even has a nice story about how he once cornered the crown rack of lamb market in New York and made some guy who shunned his business to beg him.
But yes, just buying the la frieda patties alone will likely increase anyone’s burger quality 3 fold. Such a great product.
Basically, when LaFrieda supplied Shake Shack, every restaurant in the area wanted the blend he made for them. He doesn’t give them their blend but he’ll make a custom blend for your restaurant.
“This is not a get rich quick scheme.”
LOL, me either. Don’t misinterpret my trading account…one part of a diversified portfolio. Assymetric risk, leveraged and defined. When one looks beyond the instruments used and the names it is actually fairly conservative especially given it is positioned for direction and gains.
XSOE, like. Wisdom Tree is a good manager. Nice chart. I’ll throw it on watchlist for a LT hold…couple lines I watch say it may have run ahead a bit, I’ll get especially interested if she breaks into the 41s again…VWO, yeah, heavy, same chart, like the XSOE better.
I’m not sure the market has priced in the type of re-opening we’ll see, especially if it starts ahead of the summer months….I think the spending is going to be epic. I’d like to sniff out some midcap-ish, not balance sheet challenged, somewhat under the radar consumer discretionary type pure play stock with decent historical performance pre-covid…the type of company with financials exactly in your sweet spot. A company that is one degree of separation from the actual reopening would be even better, ie. a supplier to the companies that pop open, especially if it is still somewhat beaten down. For that type of company I wouldn’t even mind significant customer concentration….
Very hard to find value. It’s how I did so well on BLD and CENT.
These are pure value plays that others didn’t notice. It’s too late on BLD. Keep your eye on CENT.
Back on the Covid-19 testing carousel again. No appointments to be found online anywhere nearby today or tomorrow, so back to the cattle call at Urgent care to see if they can squeeze me in. Last time was a 5 hour wait in the parking lots.
Teachers are all remote for some grades it seems and grammar school they are using subs in the class for the students that show up. High School Virtual with 24 cases. Middle School all Virtual with 14 active cases, Grammar School hybrid with 1 case.
Fun times…
They won’t be back until Feb 8th at this point.
Ground Beef prices are not up, been about the same since 2014.
The supermarkets simply don’t need to run loss leader sales anymore.
Data for Northeast where we have very few cows but plenty porkers.
https://beta.bls.gov/dataViewer/view/timeseries/APU0100703112;jsessionid=369A5A891F9C4EBE2FA494A50DC4774F
Juice,
That looks like an upward trend to me. And I’m not talking about the Covid meat shortage pop.
1.22% actually. :P Next reading is February 10th. We’ll have to look then.
GME rocketing up again… 114.24 USD +37.45 (48.77%)
—-> Short sellers have amassed a mark-to-market loss of $4.2 billion year to date in the stock, according to data from S3 Partners this morning. Might want to toss a few Hundred Million more on that pile this afternoon.
The shorts could have bought the company 3 times over for the amount of money they have lost so far 12 days ago…
Lib – Leaner stuff and extra lean cost a bit more but was more expensive 7 years ago.
I don’t see any inflation here, just super markets pigging out. It was not long ago many went out of business.
https://data.bls.gov/timeseries/APU0000703113?amp%253bdata_tool=XGtable&output_view=data&include_graphs=true
Took a quick peek at CENT. Nice find. Hits nearly everything I was looking for above except the reopening pop. Still a nice company. Cash flow pig, gotta love that. Good BS management with the debt refi. And a nice acquisition pending for all that cash contributing literally zero to earnings….
Talk about under the radar…basically trades by appointment, no self promotion whatsoever….they announce an acquisition that is 1/4 the size of their current business and by definition super accretive on….New Year’s Eve. NYE, LOL. That’s when you announce your CEO was scooped up in a child p0rn ring, not announce good news.
That represents an opportunity….flip side is that it indicates the Board and management is a bit lightweight…BoD old, one guy has a resume that reads like a list of failed retailers…Borders, Staples…..they brought in two new people and instead of someone young (new marketing channels guys?) they don’t upgrade, the woman at best is a placeholder, founder still deeply embedded with control shares….I would longer term have a serious question how capable they are of integrating an acquisition of size since I don’t see any prior experience at those levels…as well, paying the attention they will need to on that acquisition (Garden) over the next twelve months (at least) inevitably means less attention to Pets. Not a good time to have your eye off that ball with the competition heating up in that sector…new channels (Chewy), competitor changes (PetSafe acquired by LBO shop and will be aggressive) among those. Regardless, those are longer term issues and I like the company medium term. Wish I looked at it earlier, you’ve mentioned it before.
So I may come in before earnings…Not a bad chart, seems to have a nicely defined channel between 36-43, tapping 43 for the third time which may indicate a breakout if earnings just hit expectations and anyone is listening to the call, assuming they actually talk up the acquisition, lol. Wish they had liquid options, may be tempted to write a bunch of OTM puts and take some ST calls as a placeholder through earnings and a breakout….
TY
15% of shares held by insiders. That’s a nice number. Very consistent 20% growth. Stock should double every 5 years. Good enough for me. I’m guessing main reason it remains undervalued is that people think landscaping/pets took off with Covid, which they did for the most part. But pets aren’t going away. Landscaping could drop a bit as some people return to the office.
“GME rocketing up again… 114.24 USD +37.45”
Killing me….if I had the ability to babysit this thing minute by minute today I would have put on a sh1t position after it bounced off 82 for the second time, banked ten bucks, and gotten out. Who cares what’s left on the table. Hit and run…
You tell me it’s alright, you don’t mind a little pain
You say you just want me to take you for a drive
I’m not the only soul who’s accused of hit and run
Tire tracks all across your back
I can ha, I can see you had your fun
But uh, darling can’t you see my signals turn from green to red
And with you I can see a traffic jam straight up ahead
worth the 30 minutes of your time to watch
https://youtu.be/4EUbJcGoYQ4
Fast Eddie says:
January 25, 2021 at 8:59 am
I wish I knew more of what this GME squeeze is but I’m simply a passive investor.
Basically unemployed redditers forced to work from home or unemployed because they’re “non essential” with too much time on their hands figured out how to predict which stocks institutional investors were short selling and manipulating stock prices….
natural resources; financial institutions; floating rate debt
leftwing says:
January 26, 2021 at 9:39 am
LOL, I get the debt point Lib, was looking for your inflation plays….
Could be a decent snowstorm for Monday/Tuesday next week.
“My only fear is the pent up demand”
The correctly sanctioned NJ RE Report term is “pant up”.
Right. My bad.
GME 123! Gonna buy the at Lambo soon!
My post keeps getting blackisted
As an aside, some of the best investments right now are going to be macro calls, and not individual stocks. If we have blunt force fiscal and monetary tools being used to manipulate the market….. (fka full blast fire hose of money), you have to believe that just getting the macro right is 80% of the call.
You may have individual situations that work out, but that is for your own ego.
In reality, if you find like situations with a certain market correlation, they will essentially react similarly under the “blunt force”.
Set a risk level and manage around that decision…..
don’t get caught in the xxxx.
I guess weed is a bad word?
grim …. I have no idea…..
135.99 USD +59.20
Hour to go imagine Steve Cohen may have to sell the Mets to Jlo and Arod to cover!
chi, on the macro stuff i guess….usually nailing it is a prerequisite anyway, otherwise you’re just trying to swim upstream?
wish mr. market would just offer up a three day, 7-9% sale, storewide…..
Of course Chi. Never fall in love with a stock.
I think the red carpet is being rolled out for Biden….. we have to have a double blow, because the first dip is going to be bought like a b!tch…… this situation is really troubling, but don’t get me wrong….. caveat emptor and everyone can go fcuk themselves….. and I have no problem cashing the checks….
leftwing says:
January 26, 2021 at 3:15 pm
chi, on the macro stuff i guess….usually nailing it is a prerequisite anyway, otherwise you’re just trying to swim upstream?
wish mr. market would just offer up a three day, 7-9% sale, storewide…..
….as an anecdote, my reverse inquiry and inbound assets are coming at me like I’ve never seen….thank those clowns for attacking the Capitol……
The cause is emotionally repellent, but I really enjoy the conversations and the people….
Bah another 3 Billion down the drain for Stevie’s Hedge Fund investment.
GME 147.98 USD +71.19 (92.71%) Closed: Jan 26, 4:03 PM EST · Disclaimer
Also Space Karen chimed in.
https://twitter.com/elonmusk/status/1354174279894642703
lol, didn’t musk just move a stock randomly mentioning it? Forget about it. Tomorrow it’s to $200.
BRT – $187 in after hours, holy ****.
D-FENS says:
January 26, 2021 at 1:24 pm
That was a great YouTube. Thanks for sharing. Same guy making a YouTube about why NJ is bad, not surprising, a lot of talk about debt..
https://www.youtube.com/watch?v=TxFhMVIPodk
lol Pumps, you missed the boat, had you listened to me yesterday, you would have retired! Not too late. Buy buy buy!
Hahahahah….. now 211.33 +63.35 (+42.81%)
Stevie might have to sell the Mets after this one, he had 1.75 Billion tied up in that hedge fund.
lol, I said $200 by tomorrow, not in 5 minutes
What wild times…what a time to be alive
Madness.
After Hours 5:02 PM EST
242.96 +94.98 (+64.18%)
Close
147.98 +71.19 (+92.71%) Volume157,109,269
52 week range 2.57 – 159.18
These are the people that will get hurt on ARK.
“However, Cramer said he has started to see somewhat worrisome behavior from other investors who are trying to ride the coat tails of Wood’s remarkable success. While ARK has seen sizable inflows, Cramer said there appears to be a cadre of investors who attempt to buy the stocks that Wood’s family of funds is targeting.
“When ARK Invest buys something new, tons of younger investors on Robinhood follow them into it, creating a self-fulfilling rally. Rather than just putting their money in the ETF, they want to buy what Wood’s buying and they want it now,” Cramer said. The firm publishes information on its daily trades, Cramer said, noting it’s one of the first places he looks after the market closes.
There are two recent events that Cramer said underscore his concerns.
The first happened Jan. 12 when Zoom Video announced a secondary share offering. The stock, a major winner during the Covid pandemic, had been languishing even before the additional stock sale, he said, as investors likely looked to take profits ahead of widespread vaccinations.
“But then the stock found its footing in the middle of the session and actually finished up 5%. … I couldn’t find a reason until that night, when we learned that ARK had made a massive buy,” Cramer said. “Since then, it’s come roaring back, rebounding to $383 today, because we all know that Cathie Wood put in the bottom.””
https://apple.news/AHHBfvl4BSje8heZ7Of_ifw
I’ve decided to take GME private at $400
funding secured
-Elon Musk
“Cathie Wood and her team at ARK Invest have made some incredible calls and my hat is off. … They absolutely deserve all the praise they’re getting,” Cramer said, especially when it comes to Tesla. He noted that some used to ridicule Wood’s bullish price targets on Tesla.
“Back before the stock’s five-for-one split, Wood loved to say that Tesla was going to $4,000—post split, that’s $800. Wall Street scoffed. … But guess what? Today Tesla closed at $846, so who’s crazy now?” Cramer said. “It’s not just a couple big bets. Cathie Wood has a stunning overall track record,” he added.
No impeachment coming. It’s been cancelled.
Not so it’s happening week Feb 8th, the odds of getting 17 Republicans to vote for a conviction just means the Dems have to try harder to bribe them.
Juice, our ‘friend’?
$22m.
He did take 200 of the 1,000 option contracts off the table…..LOLOLOL.
https://www.reddit.com/r/wallstreetbets/comments/l5nphz/gme_yolo_update_jan_26_2021/
“These are the people that will get hurt on ARK.”
Are you high?
How do you get hurt front running someone who has to spend $30 billion over a couple dozen names?
Soon, very soon as a matter of fact, she will stop publishing her moves. Cute publicity stunt when you’re a nameless fund manager fighting for mindshare with a few hundred million. Whole different story now.
Even your Cramer quote backstops it…..In the face of dropping $2B in new shares on the market ZM price went up that day because Cathy was backing up the truck….Every time she prints she’s dollar cost averaging herself UP and putting gains in freeriders’ pockets…..
She is backed by a cult on Reddit that think they can play her game without paying up for the fee. All they do is make us money…they artificially drive up price and cathie sells out of position. She then buys low again. This is why I pay her!!
That Reddit group are the bag holders, they just don’t know it.
That transparency has a cost. Cathie is a genius, you just haven’t realized it yet. I am happy to be in the right place and right time, to ride the beat investor of the new generation.
Wow, that’s incredible. Takes major balls to do that. Have to risk if you want to win big like that. Just can’t caught and play the game too much.
leftwing says:
January 26, 2021 at 5:45 pm
Juice, our ‘friend’?
$22m.
Only because Kathy Griffen can hold a bloody beheaded prop with zero repercussion, big tech can stifle opposing thought at will, and the leaders of the Left (Schumer, Pelosi, et al) can lie right to your face….
Good night Dear Senator. Please check out. Your time has come. Go join RBG.
How fcuking funny would it be if Leahy – anointed to preside over the impeachment trial – kicks the bucket and the Senate changes hands as the VT governor appoints a Repub changing control of the Senate. LOL.
Told you guys karma exists…..
https://www.independent.co.uk/news/world/americas/us-politics/patrick-leahy-hospital-health-impeachment-trial-b1793211.html
The impeachment can’t happen. Trump could easily destroy the Republican party creating his own political party and running his son/daughter. He could easily steal 20 to 30% of their voting base. He’s vindictive enough to do that to them.
Pumps – “She is backed by a cult on Reddit”
Good man now you get it. Social Media is now a Mafia. Rules are Burn em at the stake, and it’s the old guard that will get the sear first.
Fire up a margin account Pumps if you don’t have one. The amount of spending coming down the pike will make the housing boom look like a blip. The next bubble is always bigger than the last.
BTW an investment of $80k could have turned into $500k today. It’s going to be a war, this is only one of the first battles. The old fogies have no idea what is coming for them, and when I say old fogies I mean the boomers, most of us Gen X are on board…
Juice: If these young ones were smart they will figure out away to bring the housing market to its knees! That will get the old fogies/boomers, and take out the older chunk of Gen X too.
Pumps – There is no editor on social media, it’s all out there.
Old Guard explaining how the fix works, “mechanics of the market”.
Chi touched upon it previously, “mechanics of the market”
https://www.youtube.com/watch?v=GOS8QgAQO-k&feature=youtu.be
3b- They already did more this week than anything people getting out there in-person protesting like Occupy Wall St did.
We are going to see allot of politics soon….
The GME story is much more interesting than a kid putting 50K on the hardways and parlaying the winnings three times in a row. It’s incredible, because it shows the power of social media over Wall Street. It’s sort of a mini occupy movement. Rather than it being 10 rich guys spending 1 million each shorting GME for an easy buck. It’s 1 million reddit readers spending $10 each sticking it to the man. And just as there is nothing illegal about a WS firm publishing an illegitimate hit piece on a company they are shorting. There’s nothing stopping the Reddit Boys from playing this game over and over again. Good for them!
Blue horseshoe loves Anacott Steel.
Zimmerman Flew, Tyler Knew
It’s funny. The big boys have always squeezed people out of trades, despite the fundamentals. Now a bunch of individual actors armed by group think found a couple of funds that put themselves in a really stupid position. Now, they got kids in high school registering (on their own accord) and putting in a few thousand. The message is clear, buy and hold and they have no way out. It doesn’t bode well when a guy like Chamath who has a huge audience that will follow him into everything buys in and tweets it. There’s probably a few rich people Cohen has pissed off over the years looking to gut him.
I think organized hunting of the shorts puts us in New Paradigm. Whether it is actually a top though? Who knows?!
Wild times, can’t say that enough.
My entire life lessons have taught me to run from quick money. Is this time different? Prob not.
I still believe in Ark, longterm, just hope the herd doesn’t take the stock market out. Greed is the root of all evil, not money.
BRT: You really think there are high school kids putting in a few thousand?
BRT,
Absolutely, this mindset must be understood. Pancake in a can was a 20,000 lesson on how the market really works. You have to see the daily play at a small level to understand it at the whale level. Got my a$$ kicked, we can laugh about it, esp with plug over 70 dollars, but make no mistake about it, I learned invaluable lessons from NHMD. Priceless. I learn from my mistakes..
“buy and hold”
The new generation has nerves of steel. They understand buy and hold. It’s a given, common sense to them, which is why they “buy the dip.”
I keep stressing that the avg investor is becoming smarter and smarter. You think they could have figured out how to short squeeze GameStop 20 years ago, never mind 50 years ago?
On avg, people are not as stupid as they used to be…need new tricks
Buffett is a genius, but he is Ark 30 years from now. Can only milk it so much. Right now, it’s still early to her game.
Didn’t grim always refer to millennials as the most educated generation in history? Well, here we are as they enter the market en mass.
And trump can suck a d’ick, millennials will show why America is the leading innovator in the world. Just too smart, too much of a power position on a political level for the rest of the world to catch up. Hardened by 2008, this generation ready to play.
BRT: You really think there are high school kids putting in a few thousand?
Yes, I went through all the reddit threads. There were a bunch that were like “my savings account has 5k, should I put it all in?”. Everyone tells them yes, 5 minutes later, they have the app downloaded. Not only that, but a lot of these kids are buying things on margin with no idea what that means. I read a bunch where they bought $20k on margin.
How are they qualifying for a margin account? Oh right. Government’s got Wall Street’s back. Margin accounts for everyone!
Lib even so – The RobinHood folks cannot buy calls without mom and dads money they toss in everything they have anyway into the fray for fractions of as stock…There are two million of them now? Their value is only social media.
BRT-recent trades have made some of them rich,5K is a baller, now add in 2.5 million and we have a party. How many kids even under the age of 21? Must be the the talk of every conversation they have these days.
BRT: That is incredible, but to quote what Lib said margin accounts?? That is scary.
People actually are happier when they make more money: Wharton study
“Conventional wisdom suggests that “money can’t buy you happiness.” And well-known research from 2010 had shown that people tend to feel happier the more money they make only up until a point of about $75,000 a year.
But according to a new study out of University of Pennsylvania’s The Wharton School, people’s well-being rises with the amount of money they make, even beyond $75,000.”
https://apple.news/Anls2Ej0jS9OZNXttVo1X-w
Here’s the thing, none of them give a crap about the money. They are gambling just like they would do in vegas or on draft kings. Or, they hate wall st. so much that they are willing to buy a few shares to keep this squeeze alive. And the ones that have been buying the stock have been told, just hold…and the shorts will have no choice. They are all on the same page and it’s working.
.
This will be a near instantaneous crash. Movie theater exit doors bolted shut.
This on top of a damaged worldwide economy. Pure nihilism and sociopathy.
Thinking of what material assets I’ll buy with the bit of leftover stock I’m about to liquidate tomorrow morning. Maybe just pad my cash reserve for a while. Enjoy it while it lasts.
OK, I haven’t looked at F&O in a long time. Here’s where I’m at. The retail investors are going to get creamed. Big share price, the only ones selling are the retail and those shares are being bought by retail. The ones holding shorts are not buying themselves out of these positions. The reddit folks are eating their own.
So where are the Big dogs. This move has been telegraphed for a long time, so I would suspect, the big shorts are straddled, collared or just feeding of the retail. This is not VW. Worst comes to worst, someone cuts a check with leveraged debt and takes it private and takes the loss long term.
I think this goes to march expiry. If the shorts are in that big the will make a play for the bonds, call it that way and crash the company.
Fabius . . .
You don’t think that institutional money is buying into GME to bleed the shorts?
DcaeznCShqA
Crushed the point I’m trying to make is that the Stock Price has no real impact on the balance sheet here.
The CEO here, does not care who is shorting who. They are focused on running the company. They are only really interested in the debt servicing. They need to pay the interest Vig and not get called on outstanding.
The market value of u/DeepF—-Value GME holdings increased from 11 million to 22 million by end of day today.
Unreal.
$53K seed money.
Lib,
When you “upgrade” to RobinHood Gold one of the “features” of the premium plan is approval of trading on margin. No questions asked.
h**s://robinhood.com/us/en/support/articles/upgrading-to-gold/
It’s a feature… there’s no “approval”, literally for $5 per month, margin is a feature…
For $5 a month, you get access to the premium features and your first $1,000 of margin is included. After your free trial ends, you will be charged $5 every 30 days at the beginning of your billing cycle.
“If you use more than $1,000 of margin, you’ll pay 2.5% yearly interest on the amount you use above $1,000. Your interest is calculated daily and charged to your account at the end of each billing cycle.
If the Gold fee or margin interest rate changes, we will notify you 30 days in advance so that you have the opportunity to cancel your subscription.”
Fabius at 11:34 . . .
Assuming the underlying company can service its $1.2B debt, do you think a short squeeze is possible?
The reddit short squeeze thesis is that 2 million retail investors are holding 5M shares out of 69M outstanding. Insiders and index funds hold an appreciable portion of the rest of the 69M outstanding. The shorts have shorted more than 69M shares. Thus, the shorts are in a dangerous position – if they start buying the limited shares available for sale to cover, they drive the price up. By driving up the price, they create a feedback loop.
Do you think there are large hedge funds that are in a dangerous situation because they are heavily short GME? Or, is the reddit thesis totally wrong because the GME shorts have already bit the bullet and hedged away the risk in exchange for a manageable loss?
I don’t know whether this will squeeze up to $500/share or if the floor will fall out to $20/share.
Juice,
I’ve been on r/WSB for some time now.
The sub has fixed the issue of fictitious gain p0*n some time ago and screenshots of larger value accounts are verified by its moderators.
I’ve hung out there for a year + now and I see the same few accounts at that level. Sure, you’ll find 18 year olds buying fractional shares but there is no shortage of people yoloing 80% of their $10-50K accounts on OTM weeklies. Confirmation bias happening for sure but there’s a semi tight knit community at this point.
A few months ago there was the “guh” kid who with several hundred dollars in his account used a loophole to leverage 25:1 on 7% OTM AAPL weeky puts. The running joke is to reboot your phone and start again.
I remember walking to DIME savings bank to buy $5K of RAE Systems, or losing $5K on boots and coots in between classes when the oil wells were on fire. This is sort of the same just amplified at scale.
Crushed,
What you described is a short squeeze but it is my understanding that the share purchases aren’t triggered by the closing of short positions but rather by the MM’s who as a response to strong directional options bets need to purchase shares to hedge correctly and reduce their resultant over-exposure.
what is the role of MM? Can they call it quits and say no buy order filled from now on.
They can slow down perhaps if they prefer to smooth things out better.
BTW, Citadel is getting Robinhood order flow in advance and can frontrun this if they want, but the shorts are against bigger guys too who don’t regularly post on r/WSB. I’d see a week of turbulence and perhaps real big guys FED, large IBs make a lot of noise and call it a flash crash to reboot the system. Watch out the VIX in weeks to come.
I mean, I understand they have an obligation to facilitate but I don’t know enough to add. That said, I’ve half a mind to toss 100K at it since everybody is doing it.
Remember, core to r/WSB is the YOLO. One can’t YOLO out of poverty with equities. The road to tendie town is via all or nothing directional option positions.
I would wager to bet that the majority of the total notional held by r/WSB is via contracts, which I understand presents unique issues to the facilitators.
How it started: h**ps://i.redd.it/gxrdpvjbu3441.png
How its going: h**ps://i.redd.it/cltvfhzmrqd61.png
Fab: please avoid authoring posts as if you have some type of expertise. We all see through your pontificating. Frankly it is boring at this stage and completely predictable.
The president we should’ve had
https://twitter.com/tulsigabbard/status/1354035548524957697?s=21
And the little guy will never win.. Suddenly the top securities regulator in Massachusetts thinks trading in GameStop stock, which has been skyrocketing, suggests there is something “systemically wrong” with the options trading surrounding the stock. Nevermind the fact that large hedge funds overextended themselves and shorted 130% of the stock. Now its a problem
William Galvin, the Secretary of the Commonwealth of Massachusetts, said in a statement to Barron’s that he’s been watching the stock. “This is certainly on my radar,” Galvin said. “I’m concerned, because it suggests that there is something systemically wrong with the options trading on this stock.”
Lib, look at VNT…not recommending it all (no advice here) but it ticks a lot of the boxes I was looking at yesterday.
It’s messy, it’s a spinout of a Danaher spinout, new management, carve-out financials, and covid weakness. Recent offering. I kind of like the risk profile, pull up charts and draw some lines. Earnings on 11th…
I normally don’t try to grab a knife, particularly one that breaks channel/trend but I’m dipping a toe in….about 20% of what would be final hold.
She’s through three levels of support today and was fighting the 32.00 level, an earlier morning low. I see stops after that around 31, 30.25, and a go to hell scenario at 28.
Closing above 32.60 would be positive for me today.
Base case for me is a real if boring business, internationally diversified, orphan stock that in the last three months just had 100% of its shares dumped on people who really don’t want them. Not badly levered and a cash flow pig. Earnings will be their first real coming out for management and the company as an independent entity for the reporting period, and after having their customers hit by covid earlier in the year but recovering sales in the last quarter. They trade at a slight discount to comps, understandably for the above reasons. Unless they screw the pooch on sales or further down the P/L from bad cost estimates from the spin I’d think there is good likelihood it may rally from where ever it finds a bottom between now and then. They also have a hidden asset, a minority stake in a (relatively) sizable EV charging company. Size of interest isn’t disclosed but they invested $45m. Even if it’s only on the order of a 20% stake similar companies are being valued around $2B.
She’s getting whacked today and given the lack of a dedicated shareholder base it would not surprise me if it continues, may be worth putting on a watchlist. YMMV.
Chamath will be on CNBC @ 12:30.
Should be interesting!
Much lighter volume in GME today than yesterday. I’m seeing less than 1m shares are being traded each minute.
Next stop $500 or $50?
I hope $500. Loving every minute of it.
Fed at 1pm also.
LW, I’ll sneak a peak. DHR is my kind of stock, so I’ll look at the story. My big issue is my requirement of 5 years of history. If it’s a spinoff, it won’t have it. Though, there is a phenomenon where people sell the spinoffs (to their dismay when they shouldn’t have) when they are large holders of the original stock and treat it more like a one-time dividend. The other problem with spinoffs is that large companies used them for accounting alchemy. They take all of the crap off of papa company and load it into the child company which is then doomed to fail. Kind of like Murphy borrowing 10 billion to pay for the this year’s budget and basically charging our children a a Covid surcharge in perpetuity.
Crushed it’s not a long term play at these prices, it’s a momentum driven trade, and that moment will be over soon.
Don’t get hurt, ring the register.
Juice, yes. I sold my one share holding of GME (cost basis, like $60) for $290 this morning. Then, I traded in and out for +$10 (one share) and +$2 (one share again) today.
God bless the holders, but this got too ridiculous for me, even with only one share on the line. I hope it squeezes to $1,000/share without me, though, and that GME retires its debt by issuing some new shares.
So my kid has tested negative for Covid-19 again, second test in two months. The cattle call has gotten more efficient as well, only waited one hour for the test, received results early this morning. We are thinking his “symptoms” are psychosomatic or maybe just a cold. Doc was interesting, he was pissed that the schools have taken away his power to deem the kids healthy enough to attend school. He says it should be 7 days quarantine with a negative test, not 14 days like the school district here says.
On the car front battery died again after a full charging. I went online and shopped, ended up driving to Costco to pick one up. Their prices are about 33% cheaper for a car battery than the lowest online price with a coupon at any auto supply store. Half the batteries sold are are all made by the same company Johnson Controls, just different stickers with a Costco brand.
Crushed – It’s always a nice drive home from the casino at any hour with more cash than you went there with, nobody enjoys the drive home with an empty wallet.
I cannot see it going much higher, it’s the professionals driving now, the momentum a bunch of kids generated on social media and the MSM will end soon.
Crushed – It’s always a nice drive home from the c*asin*o at any hour with more cash than you went there with, nobody enjoys the drive home with an empty wallet.
I cannot see it going much higher, it’s the professionals driving now, the momentum a bunch of kids generated on social media and the MSM will end soon.
We call it the drive of shame.
Vol on GME is down to less than 100k shares per minute. It’s been over 1m per minute often over the last few days. It’s really retail-on-retail right now.
Craziest story in finance, in my life watching the markets since 1999, haha.
Educated now means indoctrinated idiot. Many of the inflated diplomas and degrees being handed out are worthlessness. Kids can’t think critically or are being deterred from doing so. All in the name of conformity and indoctrination.
I can’t stand this site administrator.
Just turns off comments for a few hours and turns them back on.
No notification. No apology.
What a horrendous douchebag.
Lol – From the WH Press Briefing.
Biden team is “monitoring the situation” around GameStop.
Always placed a $5 bill in the ashtray before I left the car in the parking deck. I learned once paying the Barnegat toll with a $100 and received 99 $1’sand 65 cents.
I there was no question that those ones had been tucked in garters, smelled like alcohol, body fluids, and some had a bit of a leftover tight roll to them too.
WHAT A MISTAKE!
Juice Box says:
January 27, 2021 at 1:13 pm
Crushed – It’s always a nice drive home from the c*asin*o at any hour with more cash than you went there with, nobody enjoys the drive home with an empty wallet.
I cannot see it going much higher, it’s the professionals driving now, the momentum a bunch of kids generated on social media and the MSM will end soon.
Also mildly damp……
No one cares…… revenue generator for any authority. Pay a fine and admit no wrongdoing. End of story.
Walking says:
January 27, 2021 at 11:39 am
And the little guy will never win.. Suddenly the top securities regulator in Massachusetts thinks trading in GameStop stock, which has been skyrocketing, suggests there is something “systemically wrong” with the options trading surrounding the stock. Nevermind the fact that large hedge funds overextended themselves and shorted 130% of the stock. Now its a problem
SHhhhhhhhhhhhh!
“Less directly, the electric car quota fuels African child labor, conscripted to mine the minerals used in electric car batteries. And because China dominates those battery supply chains, state quotas will speed up the exodus of blue-collar manufacturing jobs in Michigan, Indiana and Ohio to coal-powered Chinese plants, undermining the environmental rationale for the quotas.”
xxxxxxxxx
President Biden can’t mandate that we all drive electric cars, but he’s opening the gates to an electric Trojan horse. In a day-one executive order, Mr. Biden began the process of rescinding a Trump administration rule, the first step toward greenlighting California’s electric car agenda. California and like-minded states plan to impose electric cars through production quotas—whether drivers want the cars or not.
California regulators call it a “zero-emissions vehicle” standard, but green propaganda shouldn’t obscure what’s really going on. Start with federal law. It requires the transportation secretary to set national average fuel-economy performance standards for car makers at the “maximum feasible” level without restricting consumer choice. Instead of mandating a given technology, federal fuel-economy standards allow car makers the freedom to decide how best to improve fuel economy at the lowest cost.
To promote efficiency, federal law broadly forbids state regulations “related to fuel economy standards.” Courts have held that this law forbids electric car quotas and similarly meddlesome command-and-control policies that seek to dictate how car makers should meet federal performance standards. The Golden State argues that a special exception made for California regulations in the Clean Air Act should also be read into the federal fuel-economy law. But that law’s text says no. It forbids fuel-economy regulation by any state—no exceptions.
Next, the policy. Congress pre-empted state laws in 1975 because sprinkling policies like state electric car quotas on top of federal fuel-economy standards makes no sense. An electric car quota in California would force car makers to meet national fuel-economy standards using one of the most expensive fuel-efficiency technologies, undermining consumer choice and increasing costs. One study from 2019 estimates that state electric car quotas will cost an extra $400 for every new car nationwide by 2025.
Those costs won’t be distributed equally. The zero-emission vehicle standard is in effect a hidden regressive tax paid by ordinary car buyers to subsidize luxury cars for the wealthy. It takes $400 from the wallets of low- and moderate-income car buyers and hands it over primarily to six-figure-income electric car buyers, who enjoy many other subsidies, too.
Less directly, the electric car quota fuels African child labor, conscripted to mine the minerals used in electric car batteries. And because China dominates those battery supply chains, state quotas will speed up the exodus of blue-collar manufacturing jobs in Michigan, Indiana and Ohio to coal-powered Chinese plants, undermining the environmental rationale for the quotas.
California’s central planners cast electric car quotas as a step toward a carbon-free utopia, but they do nothing quantifiable to reduce carbon emissions. Federal fuel-economy law already sets stringent average standards for national fleets. The key word is average. Car makers can offset every “clean” electric vehicle produced to meet a state quota with a “dirtier” car. In other words, for every mandated electric car, car makers can and will sell an equal and opposite gas-guzzler and still meet the federal fuel-economy standard.
Meanwhile, by making new cars more expensive, electric car quotas encourage drivers to keep older and dirtier cars on the road, increasing pollution. California politicians assume away these inconvenient truths. They also assume an electric grid that works—a lot to ask of California these days.
California’s costly and regressive car quota isn’t laudable state experimentation. It is a Madisonian nightmare, a state-sponsored regulatory cartel meant to advance the interests of California’s dominant factions at great national expense. Why balkanize the car market into petty sovereignties governed from Sacramento? As America’s chief executive, Mr. Biden should faithfully protect the supremacy of the nation’s federal fuel-economy law.
Mr. Gray has served as White House counsel, U.S. ambassador to the European Union and U.S. special envoy to Europe for Eurasian energy.
“Unfortunately America is absurdly supplied with citizens whose professed passion for climate science is not matched by a desire to know anything about it.”
Holman Jenkins, WSJ
One of my most memorable AC trip was my first. Just turned 21 and took an organized bus trip with a bunch of friends. We were three sheets to the wind by the time that bus arrived at our destination the Taj Mahal, and we were now drunken hooligans yelling hooting and hollering.
We spent the night wandering the around the place drinking more and more and I could not believe as long as I sat at a slot machine I got Free Drinks! Pulling levers and playing slots until I got up some drunken courage and sat down at the Blackjack table. I really had no idea what I was doing, and was just betting $5 and splitting and doubling as much as I could to get near 21. Massive amount of beginners luck that day. My $100 became $400 and then I jumped up to $25 hands. In about 5 chutes later I turned that $100 into $2400. I was even betting $200 a hand at one point and then witching hour came it was time to go they bus was leaving we were late so they dragged me back to the bus in he middle of my winning streak or was it the end who knows.
Well that ride home was pure misery, S*hitter was a mess from puke and everybody else lost money. I was the only winner on a bus full of depressed drunks. I fell asleep and woke up with my sneakers on fire. They decided to prank me by lighting my laces on fire, they called it a baptism by fire sometime around 7AM when the bus arrived home.
Took the winnings and went to Jamaica on Spring Break. That story I will tell some other day..
Amen!
Juice Box says:
January 27, 2021 at 1:13 pm
Crushed – It’s always a nice drive home from the c*asin*o at any hour with more cash than you went there with, nobody enjoys the drive home with an empty wallet.
China just had their best week in over four years!
MCGA!!
It seems inevitable that the populist forces that have disrupted almost everything else in recent years would eventually arrive to democratize investing. But the sheer impact of retail trading has been shocking, primarily to financial professionals who appear ill-equipped to deal with it. Organizing via social media, the amateurs have been able to send so-called “meme stocks” like GameStop Corp. soaring, while hedge funds that have been betting against the chosen companies are in pain. Some worry that the battle between the “flows” generated by small investors and the “pros,” or professionals, are artificially pumping stocks higher in a feedback loop that could lead to a collapse. Others worry the wild trading is ruining the purpose of capital markets entirely: the efficient allocation of capital.
https://apple.news/A_mLuciWfQ_6Cvo8cE28kPg
REAL ESTATE
Good morning. New York City’s Fifth Avenue brings to mind luxury goods, high-end fashion, and towering lease prices. In 2020, the famed high street was also the scene of looting, boarded up windows and vacant storefronts.
Now, Esther Fung writes, there are some signs that the strip’s old magic may be returning. Part of it has to do with Donald Trump. His departure from the White House is expected to ease the barricades and protests in front of Trump Tower that ensnared the Avenue. Vaccine availability also raises hopes that international tourists will return. But perhaps most of all, lower rents are fueling new business. “Retailers should be happy,” said Compass’s Adelaide Polsinelli.
For apartment owners, the bad news keeps coming. Eviction bans, lower rent collections and huge declines in asking rents are taking their toll on apartment owners, write Will Parker and Peter Grant. It’s likely to get worse before it gets better, but many believe apartment owners are better positioned to ride out this recession than the last one. That is in large part due to their relatively low levels of debt, said Walker & Dunlop’s Kris Mikkelsen.
And for rural operators of co-living spaces — furnished rooms in big, shared homes — the pandemic has been a boon to some of their businesses, writes Konrad Putzier. Especially in Europe, Millennials want the chance to live closer to nature but not in seclusion from peers. That includes people like Bettina Kamps, a Berliner in her late 30s who relocated to a co-living spot outside the German capital. She said she sublet her Berlin apartment and has no plans to return to the city anytime soon.
— Craig Karmin, Real Estate Bureau Chief
Chi,
I’ve been preaching the electric car story on deaf ears since I graduated college. It’s a fashion. You get to say, “I’m saving the world.” While the reality IS, you are destroying it. There is a reason every electric car looks obnoxiously stupid. It’s not because it needs to be lighter or more aerodynamic to work. It’s to make sure your car is differentiated in appearance to again say, “I’m saving the world.” This is where Elon Musk is brilliant. He knew he could forever fail forwards on government subsidies, because the government also has to appear to be saving the world. And in this case, at any cost.
Grim = Big Tech (NJ)
chicagofinance says:
January 27, 2021 at 2:02 pm
I can’t stand this site administrator.
Just turns off comments for a few hours and turns them back on.
No notification. No apology.
What a horrendous douchebag.
The Day-Trading Barbarians at the Gate Won’t Sack Wall Street: The frenetic trading of options by retail investors isn’t large enough to disrupt the primary purpose of equity capital markets.
https://www.wsj.com/articles/the-day-trading-barbarians-at-the-gate-wont-sack-wall-street-11611660505?st=meyt85pku2q9tmo&reflink=article_copyURL_share
Bubble Watch: Jet Debt May Also Be Flying Too High: The aircraft-finance market has opened up again even though jet values remain at risk from the pandemic.
https://www.wsj.com/articles/bubble-watch-jet-debt-may-also-be-flying-too-high-11611663520?st=k4u7f5na5xrd0oi&reflink=article_copyURL_share
Could you imagine if the black swan was the Reddit Boys?
Educated now means indoctrinated idiot. Many of the inflated diplomas and degrees being handed out are worthlessness. Kids can’t think critically or are being deterred from doing so. All in the name of conformity and indoctrination.
When you teach in a wealthy area, and constantly try to get the kids to realize they are in an isolated bubble and have no idea how the real world is…they scoff at you as if you are just spouting off cliche. Then, you watch them after 2 years of college collective write your board of education a set of letters blaming the high school for not informing them of their “privilege”, it’s a mind blowing wtf experience.
Forget the child labor at the cobalt mines. We would need to triple electricity production at night for every home if there were two electric cars in the garage for the USA only. 100 miles driving takes 30kwh to charge, so two cars need 60 kwh each day. Average house consumes about 877 kwh a month or 30 kwh a day. We we are talking triple power consumed for each house to to 90kwh per day = triple the amount of power generation stations in the USA.
That is like twice the amount of power generated by every Nuclear plant on the planet combined, most of the power has to be generated at night too, people drive mostly during the day so Solar Panels won’t do it. Wind Farms in every yard, on every hill, in every sea? Who knows if that would even come close.
We certain would burn through the fossil fuel left in the ground quicker too estimates are about 300 years worth. There might be no fossil left in a 100 years with population growth.
Pray for Fusion power….
It’s so funny to watch CNBC try to shill for these Hedge Funds that got creamed. They hate the fact that the little guy handed the hedge funders their a**. They have no issue with a Hedge Fund Squeezing a stock to the downside and selling short more shares than exist.
And I find it hilarious that they want to use earnings to justify stock price when they refuse to do that for every other stock that has earnings.
In Costa Rica, 100% of their electricity is generated by renewable sources. There, it makes sense to push for electric car use. Here? Not with the lobbies making sure we must pollute.
Fast: And China warned Biden to make sure he stays in line. The decline continues
3b,
I wonder how much was deposited in an anonymous account for O’Biden for staying in line.
In further news, killing this XL pipeline made since because now the oil transport will be made by diesel-spewing trucks and trains instead of an encapsulated pipeline. And gee, I wonder how those union guys will pay their union dues with no job?
Most of that is hydro electric…they have high rainfall and lots of rivers. Not possible in the US.
Generation IV nuclear is the best possibility in the US. Low risk of meltdown because they cool with liquid salt…and can be powered using the waste from previous generation power plants.
Other options that might ease the transition are carbon capture.
Libturd says:
January 27, 2021 at 3:07 pm
In Costa Rica, 100% of their electricity is generated by renewable sources. There, it makes sense to push for electric car use. Here? Not with the lobbies making sure we must pollute.
Ahh… the smell of freedom now that the s0c1a1st democrats are in power…
https://tinyurl.com/y22hrq8z
Fast: Biden is no match for China. And we will probably never know all the shady deals Hunter has been involved in.
CNN says GME surge is Trumps fault!! It’s payback to the elites! Pathetic on CNN s part but I assume that’s how it will be going forward.
Carbon Capture sounds an awful like the billions we wasted on clean coal.
Someone is going to get this money
@elonmusk
Jan 21
Am donating $100M towards a prize for best carbon capture technology
https://twitter.com/elonmusk/status/1352392678177034242?s=20
Maybe something to do with this:
https://www.msn.com/en-us/autos/news/elon-musks-spacex-reportedly-plans-to-drill-near-a-texas-launchpad-for-natural-gas/ar-BB1d1XbF?ocid=uxbndlbing
TSLA/AAPL/FB report after the close. I expect a huge rebound tomorrow. Bought 20K worth of Adobe here to play my prediction. I also think the GME/AMC game stops tomorrow.
You know what will be funny? When Elon Musk has to delay a SpaceX rocket launch due to artificially created earthquakes from fracking the land below his launch pad.
I’ve said it many times on this blog. The game has changed. This isn’t Buffett’s market anymore. The avg investor is so much smarter today. This guy agrees.
“Palihapitiya said the craze around GameStop shares, and a few other stocks like AMC Entertainment, is much more than just a trading story, arguing it’s a pushback against the establishment.
“Instead of having ‘idea dinners’ or quiet whispered conversations amongst hedge funds in the Hamptons these kids have the courage to do it transparently in a forum,” he said. “What it proves is this retail [investor] phenomenon is here to stay. There are 2.7 million people inside wallstreetbets. I think they are as important as any hedge or collection of hedge funds.”
Palihapitiya said the best research on stocks done by retail investors inside wallstreetbets is nearly indistinguishable from the best research on Wall Street. “That edge is gone. Now all of a sudden, retail can be on the same footing and they don’t have to be the ‘bag holder’ to Wall Street.””
The only game that has changed is that Wall Street can’t play their dirty games with their high net worth client accounts nearly as easily as they used to. This I support. On the flip side, the damage to the world’s markets due to the uncertainty and the increased volatility that comes with this brave new world of social media driven day traders, like with Wall Street, may enrich the few participants at the peril of the rest of the world.
The DOW is down 1000 points since the presidential inoculation.
Talk to us tomorrow Fast Eddie
It’s because Trump incited an er3ction at the capitol
Fast Eddie says:
January 27, 2021 at 4:07 pm
The DOW is down 1000 points since the presidential inoculation.
Just making an observation, Lib.
And in further news, O’Biden announced the creation of a White House Office of Domestic Climate Policy and a Civilian Climate Corps. There’s your green energy jobs, folks. More bloated waste leading to nowhere, producing nothing but regulation and higher taxes.
“We’re going to power our economy with clean energy,” Gina McCarthy said. “We’re going to do that in a way that will produce millions of American jobs that are going to be good-paying, that are going to be jobs that have the opportunity for workers to join a union, because, as President Biden has often told us, when he thinks of climate change, his first thought is about jobs.”
LMFAO!!
TSLA missed earnings by 20%
FB beat but claimed uncertain future
Maybe Apple will save us?
Wouldn’t want to be in ARK funds tomorrow.
Hopefully ark gets beat up this year. Want to build a base of cheap shares. Just started buying, want some cheapies!! Once a month, dollar cost avg no matter what the price is.
Put a short on through options on GME with ten to go in the market…have until April for it to work out. This stuff is great….LOL.
Muppet.
“This article was written by a 26 yr old college student by the name of Alyssa, who’s in grad school for her MBA.
“My Generation Is Blind to the Prosperity Around Us! I’m sitting in a small coffee shop near Nokomis (Florida) trying to think of what to write about. I scroll through my newsfeed on my phone looking at the latest headlines of presidential candidates calling for policies to “fix” the so-called injustices of capitalism. I put my phone down and continue to look around.
I see people talking freely, working on their MacBook’s and ordering food they get in an instant, seeing cars go by outside, and it dawned on me; we live in the most privileged time in the most prosperous Nation and we’ve become completely blind to it.
Vehicles, food, technology, freedom to associate with whom we choose. These things are so ingrained in our American way of life we don’t give them a second thought.
We are so well off here in the United States that our poverty line begins 31 times above the global average. Thirty One Times!!!
Virtually no one in the United States is considered poor by global standards. Yet, in a time where we can order a product off Amazon with one click and have it at our doorstep the next day, we are unappreciative, unsatisfied, and ungrateful?
Can’t post the rest of it. Oh well.
Leftwing,
Before I read your post, after Deep Effin Value (greatest name ever) reported his now $13 millon in real and $33 million in paper gains, I turned to my son (who is reporting all of this to me) and said, “If he was smart, he would try to turn all his long shares into shorts. Then let the dumb retailers get left holding the bag. My son is really learning a lot from this.
“My son is really learning a lot from this.”
Like how not to work and yet become rich.
“Others worry the wild trading is ruining the purpose of capital markets entirely: the efficient allocation of capital.”
LOLOLOL. Capital hasn’t been efficiently allocated since some time well before 2008…
“Talk to us tomorrow Fast Eddie…”
Careful. VIX exploded and that has little to do with GME….
Lib’s boy knows work…pretty hard work and long hours from what he posts….
Advice for what it’s worth, especially for a father regarding his eldest who is a son….classic trap, and I fell into it, is to be fairly conservative and ‘strongly teaching’ the boy. My guy is better than fine, but if I could rewind the tape for any one thing it would be to give him a little more line to explore his own boundaries, be creative, and learn in the best way possible…by stepping on his own d1ck….
Rarely do I venture into parental advice for others for obvious reasons but I had a BIL who whispered something in my ear regarding my eldest for which I remain eternally grateful.
He took some more profit, cashed in 300 more calls.
13 Million cash
47 million paper
https://i.redd.it/a309gkm5yxd61.png
Left,
No dis to lib’s son, it’s just about the example listed-that someone can become rich without working hard.
“BIL who whispered something in my ear regarding my eldest for which I remain eternally grateful.”
Do tell..
He is like his mother?
Where is the surprise?
“An Oradell police officer has been accused of stealing unused prescription drugs from a locked drop box in the lobby of the police department, authorities said.”
https://www.northjersey.com/story/news/bergen/oradell/2021/01/26/oradell-nj-police-accused-stealing-operation-take-back/4266762001/
Phoenix, just something very specific to me and sports. Not anything earth shaking, but so stupidly simple as to be not necessarily obvious but really important.
Long story short his oldest, my nephew, started out young with varied interests. My BIL ‘steered’ him toward a sports mold of his and his childhood sports interests. Alienated him from his kid over time, rather than bringing him closer. His advice was basically that although I may have interests and expectations for my kid he really needs to find his own way from early on. Invaluable advice, because I could have seen myself from background and just the crazy atmosphere of the town we were in going the other direction. Yeah, my oldest had a good and enjoyable ‘youth career’ in a sport I always liked but it ended there after he expressed other interests…which coincidentally I happily enjoy. Travel, photography, skiing, outdoors (serious hiking, camping, and kayaking). Totally different relationship for us, while my BIL still struggles with his relationship with his 28 yo. Took a lot for him to go out of his way to care enough to steer me in a good direction when my first kid was eight and I’m grateful.
Leftwing,
Good advice. I watch over my daughter, but I’m careful to not push her. It’s her life, not mine. Too many parents lose track of that.
I saw the Tiger Woods documentary on HBO. His father is exactly what I’m talking about. He lived his life through his son, and that’s not right. Yes, the world would never have Tiger, but let a kid a be a kid. You only get one shot at it.
Left,
Thanks for sharing. There is some advise you gave me years ago about the court system, I will never forget the day I stood in front of a judge with your thought process in the back of my head. It allowed me to confront her and feel confident in a usually intimidating situation.
It helped me greatly, and was nothing I would have ever learned from an attorney. I only wish I had this type of guidance earlier.
This is a nice place with good peeps.
That’s why I can turn douche-y on the days it goes to hell…I really like people on here and likewise have taken valuable things away…good to here I was able to give back in some small way too.
Left,
Give back? It was incredible, for me at least. It came a bit late but not because of anything you did.
The ability to stand up in front of one of those robed bastards and basically tell her to go f herself and pound salt when all she was interested in was ending something inconvenient for her, later finding out it was our situation that was interfering in her career plans instead of my child’s welfare.
Discord just banned WallStreetBets channel
Wall St. Bets is private on Reddit now. So much for a free and open internet. Could you ever picture anyone shutting down this 15 years ago?
There was a big voice chat on Clubhouse yesterday.
lol, Discord server banned them for “hate speech”. It only took a few weeks before we are classifying anything we want as hate speech to get rid of it.
I can see Discord they are Pre-IPO, they don’t want to piss off Wall St, there are about 18 Venture Funds invested in it to the tune of 1/2 Billion.
Reddit is full of lots of garbage, always has been. Going private for now I gather keeps every hack reporter from sniffing around trying to find rule-breaking stuff to cherry pick and write hit pieces. There is plenty to pick on too.
Crew over at Discord are really good people. I’ve met them a few times.
The man is stepping on muh pump and dump scheme duude…. Totally bogus. Waaah!
It’s not the man, Sleepy Joe and Yellen don’t even know what Reddit or Discord is.
I would love to be a fly on the wall during that white house briefing today when they discussed it.
Dump is in progress for GME. Down -92 -26.25%
I hope the employees sold their stock grants and options before tomorrow.
When asked about GME at the WH Press Conference, the response was, “We have the first woman treasury secretary looking into it”. Great response.
LOL, got that short in just under the wire today. Fcuking boo-yah. Discord and Reddit DOA at open? Oooof. Can’t wait, ha.
Phoenix, yeah, the judicial system for family law is an absolute disgrace. Unbelievable what they do to parties.
I wonder what’s going through Mets fans heads buying GME trying to bankrupt their new owner when they waited for decades to get rid of the previous regime.
Already another one ramping up..old one will be back eventually…
Wallstreetbetsnew
r/Wallstreetbetsnew
This is the public Wall Street Bets Sub!
215K members • 176K online
What a joke!!
Bow down to your master!! (Arnold voice)
BRT says:
January 27, 2021 at 6:52 pm
Wall St. Bets is private on Reddit now. So much for a free and open internet. Could you ever picture anyone shutting down this 15 years ago?
BRT flesh wound for Stevie, not fatal, he just won’t buy another team this year.
It’s becoming abundantly clear. There is no freedom of speech, it’s only an illusion.
Juice @7:40
It’s hopeless. Greedy little locusts will do anything to avoid getting a real job. I would say “grab the popcorn” but have no appetite for this bs
Pumps if you traveled more around the world you would have a different opinion about what censorship is. For example in Australia they are yanking people out of their homes and arresting them for starting Facebook groups that criticize the lockdowns.
AP,
I’m doing my best to follow all the trading comments. So forgive my ignorance, but what’s wrong with these little locusts doing whatever?
Joyce, it would be harmless if the bill didn’t ultimately land on the taxpayers table
“By those calculations, the total direct cost of crisis-related bailouts on a fair value basis was about $498 billion, which amounted to 3.5 percent of gross domestic product in 2009.
As for who directly benefitted, Lucas found that the main winners were the large, unsecured creditors of large financial institutions. While their exact identities have not been made public, most are likely to have been large institutional investors such as banks, pension and mutual funds, insurance companies, and sovereigns.”
https://mitsloan.mit.edu/ideas-made-to-matter/heres-how-much-2008-bailouts-really-cost
The idiots thinking they are “giving the man a taste of their own medicine” are feeding the beast at their own, and our, expense
But who cares? Deficits don’t matter. The Fed can print forever. Meanwhile China and Russia are building infrastructure.
/wallstreetbets subreddit shut down by the man
nope it’s back…. They traded up the the old yacht and bought the Venus from Steve Job’s widow.
Portnoy lost his shit over it, thought the big boys actually got to reddit, he admits he is long AMC and NOK over a million dollars.
https://twitter.com/stoolpresidente/status/1354589231960743936
The kids will be alright at these prices they can sell their 1-5 total shares and buy an Playstation 5 and go on with life.
Clowns like Portnoy who jumped on these momentum trades are going to get cleaned out by the pros.
AP – re: “The Fed can print forever”
History tells us differently, we are in a countdown to a currency crisis. When the clock stops who knows. Hopefully at the next Bretton Woods they won’t want reparations as that only led to another World War.
https://foreignpolicy.com/2021/01/15/rise-fall-united-states-financial-empire-dollar-global-currency/
They are like locusts hunting short positions. Chatter now about AMC, bed bath and beyond and blackberry
The power dynamics are shifting on Wall Street. Individual investors are winning big—at least for now—and relishing it.
https://apple.news/A8lI86IAWQHGc6xo2vSl8rA
Technology might be moving so fast that the United States might have lucked out by delaying it. Who knows what the infrastructure demands of tomorrow are.
AP says:
January 27, 2021 at 8:09 pm
But who cares? Deficits don’t matter. The Fed can print forever. Meanwhile China and Russia are building infrastructure.
Juice @8:39, spot on. Top shelf article.
We know exactly who was benefiting. JJ was on this board buying bonds up for pennies on the dollar prior to them getting bailed out.
Portnoy’s whole persona is that of a degenerate gambler. But he knows how to get views. No different than Oprah “giving away things” to her whole audience or Mr. Beast eating a $100k gold cake. They spend money to generate views and they make money. I’d say He’s mastered the art better than anyone. He spends $20 on a pizza and turns it into thousands of dollars daily.
D-FENS – Like Chamath said they are crowdsourcing investment ideas for free on the internet some with real merit. It’s messy, it looks and sounds childish but in those forums are some real wisdom like Nassim Taleb’s strategy about OTM options. Burry’s work on GME, and real grunt work pouring through SEC filings. These kids think long and hard about these opportunities some with little chance of them actually occurring. That is why this works for now, reminds me a bit of DOT COM 1.0. We used to do this on AOL chat rooms, yahoo forums, chatter at work and at the bar. When everyone lost money, we just stopped talking about getting rich and moved on from our losses to our real lives.
Damn
NBC NEWS: Short-sellers lost $14.3 billion today alone on GameStop stock, according to S3 Partners
BTW – Just some Anecdotal stories from my week so far and it’s only Wednesday. The babysitter buying stocks? Yes, neighbor told me today. I have had old coworkers ping me this week and inquire what is occurring, and what to do. I don’t give advise on what to do bla bla bla, just opinion “short squeeze momentum play, not value so look it up if you don’t understand etc”. I even had my kid asking me about GameStop because the other kids on PlayStation were talking about it and he is only 11 yrs old.
Gonna end badly…for some.
D-FENS – WOW it’s not kids losing this money either. It’s Pros doubling down or even tripling down.
Who wants to bet Stevie’s ego might have finally got him or perhaps worse he picked up the Met’s curse?
He did tweet last night about it, according to Bloomberg it’s not like him to do so. Sounds like he may be pouring in more than 1 Billion as advertised.
Steven Cohen
@StevenACohen2
Rough crowd on Twitter tonight. Hey stock jockeys keep bringing it
8:47 PM · Jan 26, 2021·Twitter for iPhone
“Meanwhile China and Russia are building infrastructure.”
And America’s infrastructure continues to decay, along with it’s culture and social structure.
For sure, our ability to speak freely still is far above other civilized nations. However, that ability has deteriorated over the years and it falls well below the standards of excellence we had in this country for over 200 years on that issue.
This one cracked me up
https://twitter.com/jptayamen/status/1354598426898526209?s=21
I hear ya. The problem still ultimately lies with the wrong govt. reaction. If these folks are breaking the law (like some actors allegedly did in the run up to the GFC), they should be punished for that as well.
AP says:
January 27, 2021 at 7:58 pm
Joyce, it would be harmless if the bill didn’t ultimately land on the taxpayers table
Again not for the squeamish.
Great and funny explanation however. Crude and Rude but correct.
https://www.reddit.com/r/wallstreetbets/comments/l6mgk6/when_do_we_sell_a_quick_guide_for_gme_army_secret/
https://www.reddit.com/r/wallstreetbets/comments/l6mgk6/when_do_we_sell_a_quick_guide_for_gme_army_secret/
I though Cohen had cut bait and was now flat. Or was that just Melvin. That Melvin injection got him a nice piece of new business. Now it may be a total loss, but it will be interesting to see how it works out.
I follow Portnoy for the P1zza reviews. He likes the same style pie I like, so its nice not having to deal with the garbage places out there. That said I would not put a dollar in the direction of any of his investments.
My fathers advice on gambling was “Its fun, if you want to do it, make sure you have fun, but remember the rules.
Never bet anything you cant afford to lose.
Always assume that that your going to lose.
Try and work out how the game is designed it so that you’ll lose”
What I think a lot of people are trying to understand is the thought process of a lot of these retail investors. Here is a good insight. make sure you page forward. For anyone in here that has been poor, this should resonate. https://twitter.com/Velokx/status/1354552472816164865/photo/1
What is the long term impact to the Institutional, not a lot. Next time they’ll just throw a few pennies to balance the short with a hedge to the upside.
Another Billionarie this time Mark Cuban.
Mark Cuban
@mcuban
I got to say I LOVE LOVE what is going on with #wallstreetbets. All of those years of High Frequency Traders front running retail traders,now speed and density of information and retail trading is giving the little guy an edge. Even my 11 yr old traded w them and made $
https://twitter.com/mcuban/status/1354613692239925249
Meanwhile back in the real world. Just a small reminder of MAGA greatness.
Actually it’s under $40,000 in 2021
Under $30,000 have been paying more taxes since 2019
(The least able to afford more taxes)
Under $75,000 doesn’t kick in until 2027
ALL because Corporations got PERMANENT tax cuts from a tax rate of 35% to 21%- a 40% reduction
https://twitter.com/trudygonzales/status/1354585478167580677
Awesome posting without anything to back it up.