From ABC News:
U.S. home prices rise 10.1% in December, fastest since 2014
U.S. home prices surged at the fastest pace in nearly seven years in December, fueled by low mortgage rates and Americans moving from crowded urban areas to houses in the suburbs.
The S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, climbed 10.1% in December from a year earlier. The year-end jump was the biggest since April 2014 and follows a strong 9.2% year-over-year gain in November.
Home prices climbed 14.4% in Phoenix , 13.6% in Seattle and 13% in Seattle in December. But prices rose all over. Chicago, which recorded the slowest price gain, saw a 7.7% uptick. Detroit was not included in the year-over-year figures because of record-keeping delays caused by the coronavirus pandemic.
“These data are consistent with the view that COVID has encouraged potential buyers to move from urban apartments to suburban homes,” said Craig Lazzara, global head of index investment strategy at S&P DJI.XX. But he said it was unclear whether the trend would last.
Prices have also been pushed up by the limited supply of homes on the market. “With mortgage rates remaining relatively low and the wave of eager buyers continuing to swell, it’s unlikely that this competition for housing, and subsequent strong price appreciation, will meaningfully abate in the near future,” said Matthew Speakman, economist at the real estate firm Zillow.
Homebound consumers are also sprucing up their living quarters. Commenting on a year-end surge of revenue and earnings at Home Depot, Neil Saunders of GlobalData calculated that Americans each spent the equivalent of $402 last year at the home-improvement giant.
First
Wealth transfer to the Boomers in their retirement. House prices are on fire as Boomers cash in and head to low cost Florida etc.
Israel exceeds 50% of population w/ single vax dose.
“Lemme guess….they’re Jews….;)”
Michael Che!! Ladies and gentlemen.
Riley Williams neo-Nazi chick from Harrisburg PA found recording white supremacy vids for fun and lolz. Chick stole Nancy Pelosi’s compute with plans to send it to Russia.
Mein Pillow!!!!
I thought GME to the moon was a 5 sigma event? This is the 2nd time in like 4 weeks. Hilarious. HODL! Diamond hands baby.
Home prices rise 10.1% in December . . .
I find it interesting that many such articles note that what is driving up suburban housing is the outflow from the urban areas. I suppose the rental vacancies in the urban areas have not been cleared yet because landlords are not lowering the rent enough, and maybe some people buying the suburban homes are waiting to sell he urban apartment they also own (for now). Anecdotally, I have seen both.
Pumpkin on investing . . .
Pumpkin, if I am correct, then I believe you are going long heavy on ARKK funds, but you hold $0 or near-zero worth of BTC and other coins. I would imagine the two investments (ARK and BTC) are complementary to a tech bull who wants to place a high-risk/high-reward investment strategy to work.
GME . . .
Did you guys see Roaring Kitty’s tweet today? Catchy tune. This rise in price is well-timed for him, as he recently added 50k more shares long at about $45/share. $5M in paper profit on this move in like 5 days for him.
https://twitter.com/TheRoaringKitty/status/1364702957330182145
Anyone know where to take a class, etc on how to file motions in Superior Court? Seems like the going rate for a paralegal to do 8 hrs of work somehow equates to 5-10k in lawyers fees, and you don’t seem to get much for your money.
Honestly can’t see why it costs this much, and since I will be spending the next 10 years in a courtroom any advise is helpful. And if someone has an attorney they really like you can post/pm me however you feel comfortable and if you like me enough to help.
Thank you.
This is not the answer you want, but it’s all I have to offer:
https://www.njcourts.gov/attorneys/assets/appellate/practitionersguide.pdf
good luck
Phoenix . . .
I do not know about taking a class on filing motions, but the link below is from the NJ Court’s Self-Help website. Generally speaking, it includes the components of most motions (notice of motion, cert re facts, cert of service, brief, cover, and most importantly PROPOSED order).
Are you filing motions for a family court case? I thought your family court matter was over long ago? If you’re still in the family court system, you might want to purchase “Family Law. The Basic Guide to New Jersey Divorce wiht Forms, Court Rules and Statutes, and Tax Aspects of Divorce” from NJICLE’s Practical Skills series. It is one of the PDF’s in the “New Lawyer” bundle from NJICLE. The forms in there likely include basic divorce-related motions.
https://www.njcourts.gov/forms/10543_motion_spccvl.pdf
This site administrator is crap. He is not worth even a penny of what we pay him.
So as NJ doesn’t have a border with Mass. If you buy your legal MJ and transport it back, what happens with the traffic stop in New York?
Phoenix
They told Mr “Pro Se”, he couldn’t file an appeal, I said “Hold my Beer”. I filed in Superior although I could have gone Federal, it depends what you are looking for.
It’s $400 to file, you have my email, I can walk you through it.
Lib, you might want to sit in on this one for reference.
BIG DISCLAIMER – If you need to win, reach out to a real lawyer like Eddie Ray and get some real advice. I didn’t need to win, so Pro Se worked for me. My Brief was garbage, but I learned a lot. Next time round it will better.
Kicking it up to Federal/Superior lifts the bar that the other side has to clear. For me, it took them to a place they did not want to go, and we worked out a settlement
Your mileage may vary!
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Goldman Sachs Says Urban Flight To Last For Years:
https://www.zerohedge.com/markets/goldman-sachs-says-urban-flight-last-years
Anything to dispute in this article? Anything you disagree with?
https://www.zerohedge.com/covid-19/how-societies-are-imprisoned-whole-world-will-one-day-be-hollywood
https://nypost.com/2021/02/23/coca-cola-diversity-training-urged-workers-to-be-less-white/
Any questions?
Re: Goldman Sachs Says Urban Flight To Last For Years:
Their CEO wants everyone back in the office…says it’s bad for new employees as they won’t be “mentored” properly.
https://www.bbc.com/news/business-56192048
GME is up to 146 in pre-market. That is about $100 a share since yesterday..
This is not kids folks.
Fast,
I know you don’t take me seriously, but understand I called this 8 years out. How long did I bang the drum that suburban housing would start going off around 2019/2020 and continue through the decade ushering in the roaring 20’s 2.0?
How did I do it? I understood demographics very well. I understood that the suburbs were not dead, it’s just that the demographics were not there to support it. They were all in the city enjoying single life in their 20’s and early 30’s. Now that enormous demographic group is going back upstream to lay their eggs and raise their family.
People can blame it on the pandemic all they want, I know the truth. I’ve been yelling and screaming about it for almost a decade while being laughed out because no one thought suburbs were coming back.
Fast Eddie says:
February 25, 2021 at 7:12 am
Goldman Sachs Says Urban Flight To Last For Years:
https://www.zerohedge.com/markets/goldman-sachs-says-urban-flight-last-years
“Tesla shares on the rebound after selloff. ‘We bought a lot,’ says ARK’s Cathie Wood”
But Wood remains unswayed, rehashing her enthusiasm in the interview over Tesla’s real-world driving data.
“We do not think many analysts or investors are giving Tesla credit for autonomous. If they were, the stock would be a lot higher,” she said. What Tesla is getting credit for increasingly is its electric-vehicle franchise, advances in battery technology, artificial intelligence, and over-the-air software updates
Twitter
YouTube
Instagram
“It’s remarkable that more are not on board. Its franchise has legs here,” said Wood. “We believe that the autonomous market, the ride-hailing market will be a $7 trillion revenue opportunity and right now the ride hailing companies…their market cap cumulative is around $200 billion globally. If we’re right, Tesla is in the pole position in the U.S. to become the autonomous taxi network.”
And it is going to be “more of a monopoly than most investors and analysts understand right now,” she said.
https://apple.news/AIprBTepSRCS3sMo72yYgjw
Charlie Munger doesn’t know what’s worse: Tesla at $1 trillion or bitcoin at $50,000
https://apple.news/A8SvZIowLTRWrgvi658jjrg
Who’s right, old school or new? That’s the big question.
Just thinking..I’m with the new. Cathie bought Amazon at 10 dollars and Buffett didn’t. Maybe his time has passed
Truth.
“I do think for a business like ours, which is an innovative, collaborative apprenticeship culture, this is not ideal for us. And it’s not a new normal. It’s an aberration that we’re going to correct as soon as possible,” he told a conference on Wednesday.
Fast Eddie is an advocate for the advancement of white heterosexuals. Clearly a marginalized group in need of protection.
Fast
Switch to korean dramas. Problem solved.
30 year,
Clearly a marginalized group in need of protection.
No protection required, we can fend for ourselves while continuing to lift up those around us. I just wish those who harbor jealousy and resentment would ultimately realize that it will never yield positive results.
Eddie,
Please explain how you those around you by calling them names and making fun of them.
If you don’t need protection, why do you whine endlessly?
Lol- Sure we need to get 40 million people back on the roads commuting into the office wasting all that extra time businesses have gotten from people for free all that extra productivity and also $$ upkeep for office buildings few people want to physically be in all day. Sure some want to go back but not everyone.
Just look at the teachers for example. They are 116,000 full time teachers in New Jersey. We could vaccinate them all in a day and reopen the schools. Why haven’t the politicians prioritized this over smokers? The CDC has been saying it’s safe to reopen schools and would be even safer if the teachers were vaccinated. Truth is we hear from their Union Bosses the schools need to be upgrade to the tune of 200 Billion dollars to reopen, that has nothing to do with preventing the spread, the science says that covid is not spreading like wildfire in schools. I believe the teachers want to be remote forever. Especially PUMPKIN, ook at all the time he has to post on a blog all day….
If you don’t need protection, why do you whine endlessly?
What protection? Who’s clamoring for protection? Making fun of who? The S0c1al Jus1ce culture that bashes and blames one particular group over and over? Who the f.uck is wh1ning? It’s 24/7 hammering, blaming and finger-pointing by the cancel culture, woke, pronoun-induced crowd and my side is whining? The left s.ucks beyond belief. The progressive movement has destroyed this country. Look at the stuff I posted above… the left is cluster-f.uck of mentally damaged muppets.
Eddie,
Thanks for the rant about protecting white heterosexuals. You prove my point about where you stand better than I ever could.
Huh? I think you proved my point. LOL.
Lol Lol Lol. Peak are we there yet?
Venture Capitalist rejoice!
Crypto exchange Coinbase file for IPO, valuation of nearly $54 billion, that is the highest IPO valuation ever. This is a direct listing too, to avoid diluting their existing shareholders and handing over cheap stock to new investors…
Last I looked, Mexican kids are back in cages. The tariffs are going to remain in place. And it appears we are planning on staying out of the Iranian anti-nuclear accord. Oh those progressives are ruining everything.
From my perch, the main difference between the two parties that I see is less name calling.
Juice.
We are probably getting close. I wonder if those stimulus checks will even make a difference?
BRT – you mentioned NFTs, seems like that mania in collectables is taking hold.
https://www.cnbc.com/2021/02/25/nfts-why-digital-art-and-sports-collectibles-are-suddenly-so-popular.html
Fast
Watch Vagabond on netflix and relax. A stuntman investigates the passenger plane crash that killed his nephew and uncovers tons of corruption in government and big business. Great action and fight scenes.
Fun fact. Lee Seung Gi, the star of it was a famous actor before he did his mandatory military service. Most celebrities get desk jobs in the military. He joined the special forces. He also did almost all of his own stunts in the series.
re: “Mexican kids are back in cages”
No they are not in cages. There are in mini mobile “migrant facilities”
https://www.youtube.com/watch?v=Zh9-7TjXkMQ&feature=emb_logo
Ed,
Does the article have some points…sure, certainly there has been outward push to make women protagonists, heroes and equals. There is nary a series on HBO that does not have weed smoking and gay angle. Difference for me is that I don’t care as long as it stays within context of story. Seems like you just don’t like being on the wrong side. If you are a true believer in free market capitalism then Coca Cola has every right to do as it chooses. Sorry you don’t like it. My IB does the same sh&t. Every major corp does the same sh*t. Sorry I don’t see lack of traditional males characters. Every f-in movie is a comic book hero. If you want to argue why Hollywood sucks and they are hypocrites then I probably would not challenge much..but not based on the reasons in that article. It has become money-driven, low risk crap fest to appeal to children and adult children. The small screen is where it is at. Big screen will have less impact going forward. Choose from any genre you want. Choose from what channel you want. Maybe they will remake a conservative version of Star Trek. Earth did not get past racism, Christianity rules the universe and Kirk never kisses that black woman..hurrah
Bystander,
You’re pretty much spot on and have a very logical view. My point is I’m tired of every-single-f.cuking media outlet I turn to seemingly has to toss out some f.ucked-up, fake, invented, sham awareness message as if a certain group is out of touch and the blame for the worlds ills. Nothing has changed… math is still math, pain is still pain, learning, practice and repetition is still required to achieve, excel and succeed. There’s no easy way out and someone or something else is not the blame for every obstacle in ones life. There’s waaayyy too many excuses and lowered bars to appease weakness. We’re getting trampled and the true message is not being discussed. I don’t always agree with the right but I truly despise the left and everything they stand for.
Weakness comes in many forms. Growing up I had to beat that into the heads of bigots who thought a tall skinny Jewish kid couldn’t fight. I could.
Injustice is a part of America that most sensible people want to see eliminated.
There is nothing – I repeat nothing more satisfying than the feeling of your fist ending a hateful sentence midstream with a perfect right jab into the nose of a raving bully. It’s incredibly satisfying to hurt them physically. Usually it is all they understand. But they will leave you alone after they are beaten.
But Eddie / Gary / Tardo you are a huuuuge part of the problem.
By problem I
Mean you are a moron. We’ve juuuust witnessed what happens when morons get power.
Look at that Ten Year go!
1.50 might be a psychological number no?
Essex, worked with a guy nicknamed the Kung Fu Jew, black belt, definitely would not mess with him. Much respect. He told me he was picked on as a kid as well in Coney Island.
Though now it would probably be considered Cultural appropriation on his part today..
Have to disagree with Cathie Wood on the Tesla autonomous idea. In my opinion and based on my academic experience, the chances of self-driving autos driving freely on the roads in the next five years is zero. Odds of it happening in ten years – maybe 10%-20%. Even if it does happen in ten years, wrangling out the liability and regulatory issues for mass acceptance will take another couple of years.
” I thought your family court matter was over long ago?”
It’s like herpes. The gift that keeps on giving. When you have kids sometimes it never ends.
Thanks to all who assisted.
“Injustice is a part of America that most sensible people want to see eliminated.”
Post of the day.
IMHO
Yeah it would have been nice to have lived in a world where everyone was nice to you and respected your heritage and didn’t ostracize you because you weren’t Christian. But noooooo that was not to be. Of course learned that most of the folks you meet as a kid don’t matter too much. Also many people are personal and professional disasters because they cannot integrate into society. I wonder sometimes about the survival skills of the young as we have tried to outlaw every “hazing” they might encounter. We’ve tried to smooth the road for them as opposed to prepare them for a bumpy road. What they don’t tell you is that at a certain point fist don’t matter. You aren’t allowed to settle things that way after age 18….or so. Yet, there is that primal skill that is honed. Useless? Perhaps.
Moron Eddie,
I kind of know where you are coming from. The pendulum has definitely swung too far. Though it doesn’t bother me at all, I would be lying if I said I didn’t notice.
For the first time in years, I actually watched the Super Bowl pregame rituals. Now in the back of my mind, I still have Roger Goodell’s claims that Kaepernick was disrespectful to the country and should find a less anti-patriotic protest. Of course, I’m aware of his change of heart (from the drop in ratings). Well the show starts and there’s black performer, after black performer, black poetry readings, and black artists noone has even heard of. Same with the halftime show. Now I know the NFL is 70% black, but the viewership is closer to 15% black. Then there were five black refs, but to be safe, one woman and an homage to women assistant coaches in the NFL. Then the game ends and Queen Latifah, who can barely jump, stars in a series where she’s a superhero.
Now I’m not offended by any of this. But it does surprise me. Just as two wrongs don’t make a right. Swinging too far in the other direction will surely be perceived as an injustice by the majority. And just as in the Olympics, the performance of the athletes is becoming less and less of the event. It’s as if talent matters less than the adversity you had to overcome to make the team. Sometimes, the story telling commentators gets so bad, I’ll just turn the volume completely off and put on music instead.
To balance the playing field makes sense. Even to overcompensate a bit is perfectly acceptable. But to turn the Super Bowl into the minority show, especially when the game sucked balls, did not do anyone any favors IMO.
Though, in the grand scheme of things, it’s really not as big a deal as Fast Eddie makes it out to be.
And speaking of blacks on TV. That Geico ice cream commercial is brilliant. Scoop, there it is!
The media is desperate for viewership. It continues to fragment and splinter until viewership now means rewatching a ‘clip’ or highlights of some event as opposed to tuning in for the whole show. Media seem to cater to their audiences in cheerleading often ridiculous and incendiary positions on things that are frankly distractions. Red Herrings keep is focused on the B.S. and not on the real meat of most issues. Who knows many folks might not even care anymore what they real issues are and they just want to bleed out in their echo chambers.
Phoenix, if you find an attorney worth his fee let me know. I always hear “you have to use this guy a real pitbull”. Then I work with him and the first thing he does is state -“why don’t we negotiate and hear their side. Lets be agreeable to their needs. ” We had won a settlement for $50k, paid out over 6 years. The attorney asked me if I would agree to $25k now and tried to teach me on present value blah blah” and “it wasnt that bad of a deal if you really look at it” I told him to run his numbers using 10 year treasury rate and get back to me. This guy specialized in divorce law (which this case was not, my mistake). Im thinking crap if I was getting divorced this guy would fold on every issue.
So TSLA is now down $210 a share from peak a month ago. That is 23% for anyone keeping track…
Libturd,
That’s pretty much my point. I love people. I detailed here many times what my family did for others. I, myself, have always respected everyone and cringe, especially when it come to kids, who suffer and lack love, support and guidance. Last night I had to go for a follow-up on my knee. The guy who helped me in the door was a black guy. I told him to catch me if I fall. Then I faked that I was falling. We laughed. We talked football for a while and did the elbow bump when I was ready to go. I’d be the first to bring cold beers or water to the guys cutting the lawn. I don’t care what their legal status is, they’re working their @sses off. I mailed a Christmas card and a check to the people who deliver a free newspaper all year. I never met them, have no idea who they are. What I hate is this elitist, liberal do-gooder, do-nothing bullsh1t. I hate the pretend symbolism and making some group the boogeyman or cause of all the problems in the world. BLM is a corporate entity… they could care less about the plight of people. The left uses people for their gain and I despise them, they’re goodie-goodie followers and all the talking heads from Hollywood to athletes to musicians who have fake sympathy.
Moron Eddie
Cheer Up
https://www.youtube.com/watch?v=c7rCyll5AeY
Wow. $1.54 on the ten year.
It’s gonna really suck for new home buyers.
Good thing I’ll be paying cash on my next one.
Lib, don’t forget the big one – Biden told millennials to f-off with student debt cancellation. Good to have traditional Republican back in office.
With oil at $63 a barrel, we’ll be fracking like a Republican in no time as well.
THEY ARE ALL THE SAME.
Lib: Yes. They are!
Interesting that gs says the urban flight will last years. It feels that way. Got cold called by an agent today. Never had that happen before. Starved for inventory I suppose.
Should be bearish for city condos. Lots will be going up as Airbnb s I guess.
Yet another attack in the subway, and my brother who lives on the upper west side says there are homeless people everywhere. Right back to the 8os. You have a whole generation of so called NY ers who were not in NYC back in the day, and were skeptical when we talked about how bad it was back then. Well it’s bad again! No one I know young or old wants to go back to their NYC offices.
Biden tax hikes would likely phase in slowly, Treasury Secretary Yellen says.
Wonder when he starts building a wall?
I heard Penn Station is worse than ever especially with the LIRR moving across the street.
He did. He militarized and put up walls all around dc before he moved in. Keep out the latest boogeymen.
That wall was built to keep out the rioting Republicans. Especially the Cracker Barrel lady.
https://tinyurl.com/Ima-Partisan-Hack
Well they made up about a cop being killed. What else did they make up? Much more I’m sure.
The narrative is so fake they have to keep going from hoax to hoax to keep it alive. Each one has to get successively bigger. His whole presidency is a hoax. Biden can’t remember simple facts such as the day of the week. He has to carry a cheat sheet around.
Things we never thought we’d see (again)
LA homeless off the charts. Ventura is the way…Venice is toast.
If you can afford it….Malibu or Santa Barbara.
Fast will not like this
https://www.yahoo.com/lifestyle/mister-no-more-mr-potato-163741315.html
When will hot wheels get renamed climate change wheels?
I had a couple who I was friend with in college who went hipster and moved from a bungalow near Silver Lake into an apartment building in downtown Los Angeles about 5 years ago. I couldn’t believe it for when I lived in West Hollywood at the turn of the century, downtown LA was absolutely infested with homeless people. Especially down by the mission where a tent city existed. Well with Covid, they moved back to NJ where they haven’t lived since the early 90s. Probably a smart move. No kids in the picture either.
Anyone wanna play PacManX?
Beer,
Why not just call it Ze Potato Head?
See, this is a problem. How generic shall we go? Why not just remove all gen1talia from every newborn and eliminate gender all together. Babies will be born from petri dishes. It’s all coming. We’re doomed.
P0rn would be really boring without any gen1talia. Just sayin’.
Birthdays and holidays are non-essential now. That goes for clothes, hair styles, housing… all generic. Money is gone, too. Not needed. It’s an even playing field, a utopian soc1ety, just as the progressives envisioned.
A lot has changed since Biden took office. So much so fast, I didn’t notice any of it. Still don’t.
I was in Penn station 14 months ago. It scares me to think how much worse it could have gotten since then.
Correction finally coming. Amen.
Man are you clueless.
3:30 show me on the doll where the Monsignor touched you….
I suppose if all of your eggs are in TSLA, PLUG and the like. Then yes, you are well into your correction. The rest of us are down maybe 5% at worst.
Speaking of Pron, just watched Dave Attell’s Old Pron series which came out 10 years ago. That is comedy gold. Brings out old pron stars to watch their movies along with other comedians like Bill Burr. Priceless stuff.
Speaking of comedy gold Ex, that one got me. You would have to be pretty darling to get look. Somehow 12 years of Catholic school and I avoided alter boy status..thank the lord.
Speaking of NYC just found out an old friend from my days of living in Manhattan. I spent many a night with that guy hitting up every bar and club in NYC nearly seven week while we were living large working hard and partying even harder in our twenties. He was only 50 years old but developed a heart condition two years ago and went under the knife to correct it, was down living in the Tampa area, so I don’t know if it was Covid related, still checking.
Where is my damm Moderna shot anyway? I went on the “waiting list” at CVS, told them if someone does not show I will be there in under 5 minutes. No call yet. All appointment systems here in Monmouth county are booked solid. I spend time every day checking, no joy…
Meant to say passed away, anyway you get my drift. I am getting up early and going for a bike ride, gonna put in some road mileage… It’s warm enough now.
Bystander. My brother was an alter boy. One of the priests involved in the latest round of pedo crimes was in our parish. He used to take the altar boys down to his house at the shore for a “retreat”. My brother swears up and down nothing happened to him, but he is not so sure about one of our friends. They used to joke about that priest many years ago seems all the kids knew but nothing was done about it.
Juice Box where in Monmouth do you live?
re: “A lot has changed since Biden took office”
Yes the TDS rants have subsided in the MSM so much so they have made it a top story that the NYC district attorney now has Trump LLC x 5000 tax returns in his hands. Whooped de doooo. As if they are going to be able to do anything the IRS and many other state and local jurisdictions could not.
Exit 114……Just past the cows and goats.
How do you get a nun pregnant?
Dress her up like an altar boy.
BTW – Milwin I did not mention the parish but as and FYI it was up North in Bergen County. I did not grow up in Monmouth.
Amazing how the robots picked off GME Today, and these clowns think that coin mining is profitable?
149 million shares traded ended up only +17.02 print at the close @ 108, down from 184….
Was getting a quick lunch at BK in midtown yesterday. (I know, I know but the options are really limited these days). Very aggressive panhandler comes in, goes right up to people paying at register, starts pushing them and asking for money. Cashier politely tells him to leave, he ignores it. Manager starts screaming at him, he ignores her too. Only reason he finally left was that the customers are getting fed up with this happening over and over and were about to kick his butt. Manager says it’s not even worth calling police. By the time they show up he’s either gone, or they lead him outside and he’s back in 10 minutes.
Path trains are starting to regress as well. Hopefully with the warmer weather the cars will no longer be taken over as short-term hotels. I almost don’t even want to ride monday mornings anymore. It seems they haven’t yet cleaned the cars from the weekend for the monday morning commute, and more often than not they are absolutely third-world disgusting. Use your imagination as to what’s there, and chances are it is. I know a few people who gave heading back to the office a shot, saw what they would have to deal with now, and said forget it.
Sidewalks are bad as they ever have been, at least in midtown. People openly pissing on the sidewalks (and I don’t mean finding a doorway or corner). The San Francisco problem has been appearing more and more too. Not to mention the druggies passed out across the sidewalk, needles just sitting there around them.
I think the NYC commercial eviction stay lapsed at the end of January, and there was a flood of stuck-in-time restaurants and shops that were gutted over the last couple weeks. Many I had hopes would re-open, but they’re gone for good now.
re: “druggies passed out across the sidewalk, needles just sitting there around them.”
In my bad old days in Hells Kitchen I would have to step over them as I went to work, as the slept on my stoop. This was in the 1990s too…..
Olympic gymnast coach offs himself
Accused in sex abuse case:
https://www.wspa.com/news/national/sources-olympic-gymnastics-coach-john-geddert-dies-by-suicide-following-human-trafficking-sexual-assault-charges/
6:51 the “avoid eye contact” years in NYC.
Biden’s first public strike
https://mobile.twitter.com/AndrewDesiderio/status/1365087377644007428?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
Essex- Back then there was a social worker in our crew during our “TV Friends” years. One time she invited a homeless person she had befriended to one of our parties, up in a “classic 5” around 104th street and Broadway where there was always homeless and dealers around day and night. Homeless “Jim” was nice guy, bad breath and stunk like S*HI**T but damm he could tell a joke, and ended up being invited many times to parties. Eventually he took off after everyone was drunk etc with lots of loot, the girls that lived in that classic 5 were shocked he took off with their loot….
Few of them today could care anything about the City, somehow I still do….
I attended plenty of fundraisers and donated what I could at the time. When we used to Rollerblade around Manhattan on our Wednesday Night Skate we would do a bar crawl and raise fund for the homeless from time to time. Sad to say many of those folks you see living on the street don’t recover to live long lives.
Fun Times. The kids today can reinvent it and do an IPO.
Homeless guy lived on the streets around the corner at a house that was vacant.
He looked exactly like Ernest Hemingway. Wife & I bought him a sleeping bag one night. He was grateful. Takes a special kind of crazy to try sleeping outside during a Chicago winter.
Hemingway said the coldest winter he ever endured was a summer in San Francisco.
Essex – No Doubt you are a good man, so why not share more you actually might live longer!
I wonder how difficult the freezing temps were. Living in the Northeast, our bodies are conditioned to get through it easily. Put on some warm layers if you need, and you are good to go. I remember, when I went to Vegas in december, it was so nice I put shorts and a t-shirt on. They were all wearing heavy winter jackets and freezing. Basically, 10 degrees F to us might be like -15 to them.
“U.S. household income jumped 10% in January and spending grew 2.4%, the Commerce Department said Friday, priming the economy for a burst in growth this year.”
“Oxford Economics predicts output will grow 7% this year, which would be the strongest growth in decades. In a Wall Street Journal poll earlier this month, economists on average expected gross domestic product to expand nearly 4.9% this year.”
https://www.wsj.com/articles/consumer-spending-personal-income-january-2021-11614293378?st=hgi7wzh9kpqa1y5&reflink=article_copyURL_share
Merry Christmas landlords……..a bit late but whatever, it won’t last long as the latest legislation extends the eviction moratorium.
(CNN)A federal judge in Texas on Thursday ruled that the federal moratorium on evictions is unconstitutional, according to court documents.
US District Judge John Barker, who was appointed by then-President Donald Trump to the court in the Eastern District of Texas, stopped short of issuing a preliminary injunction, but said he expected the US Centers for Disease Control and Prevention to respect his ruling and withdraw the moratorium.
“The federal government cannot say that it has ever before invoked its power over interstate commerce to impose a residential eviction moratorium. It did not do so during the deadly Spanish Flu pandemic. Nor did it invoke such a power during the exigencies of the Great Depression. The federal government has not claimed such a power at any point during our Nation’s history until last year,” Barker wrote.
Although the Covid-19 pandemic persists, he said, “so does the Constitution.”
The ruling punctuates a legal effort that began when a group of Texas landlords and property owners sued the CDC and the Department of Health and Human Services in October over the Eviction Moratorium Order that was issued by the Trump administration in September.
The order, citing the fact that “COVID-19 presents a historic threat to public health,” put a temporary halt on residential evictions.
Amen!!!
“Oxford Economics predicts output will grow 7% this year, which would be the strongest growth in decades.”
This coming only after the weakest growth, or should we say, strongest contraction in decades.
This is like Trump telling his disciples, the market has never been stronger, after it went from 10 to 11, when Obama took it from 6 to 10.
Lib, it’s growing, what more do you want? We had our down cycle, now enjoy the boom.
I still remember habits from the Northeast I had to give up in Chicago.
If I was in the car and pulled up to a 7-11, and would just leave my jacket on the passenger seat and run in and out of the store. I couldn’t do that there. The cold would penetrate instantly. I was just thinking about this winter. We have had a decent amount of snow, but we really haven’t had a cold snap. Did we even go sub-15 at all? In Chicago we would go days without getting up to 15.
BRT says:
February 26, 2021 at 7:48 am
I wonder how difficult the freezing temps were. Living in the Northeast, our bodies are conditioned to get through it easily. Put on some warm layers if you need, and you are good to go. I remember, when I went to Vegas in december, it was so nice I put shorts and a t-shirt on. They were all wearing heavy winter jackets and freezing. Basically, 10 degrees F to us might be like -15 to them.
I guess the feared blow-up I saw was really a Wed-Thursday thing, not a today thing. Still, last day of February….let’s see what happens.
Jesus Christo……. even Yahoo!Finance has Option Strings on it….. WTF?
You have been on point with these type of calls. Nice job.
chicagofinance says:
February 26, 2021 at 9:32 am
I guess the feared blow-up I saw was really a Wed-Thursday thing, not a today thing. Still, last day of February….let’s see what happens.
ARK Funds See More Than $400 Million In Outflows Thursday:
https://www.zerohedge.com/markets/carnage-continues-ark-funds-see-more-400-million-outflows-thursday
Great, should make her job easier right? Less money to worry about.
ARK is a wild ride and I want to ride it! Let’s go!
Fast Eddie says:
February 26, 2021 at 9:42 am
ARK Funds See More Than $400 Million In Outflows Thursday:
The results of ultra liberalism:
https://www.zerohedge.com/political/california-collapsing
It’s comical that Cathie is a playing a long term game, but people are quick to turn and take a dump on her in the short term. Claiming she is over. What did you think? That it’s only going to go up? She will be fine in the long term if she bets on innovation correctly.
She’s all in on essentially one bet. I’m sure she doesn’t care either. Those fees are paying handsomely, win or lose. The way she structured her ETFs, it’s a ticking time bomb. Maybe not her fault as the inflows were ridiculous.
I still remember habits from the Northeast I had to give up in Chicago.
If I was in the car and pulled up to a 7-11, and would just leave my jacket on the passenger seat and run in and out of the store. I couldn’t do that there. The cold would penetrate instantly. I was just thinking about this winter. We have had a decent amount of snow, but we really haven’t had a cold snap. Did we even go sub-15 at all? In Chicago we would go days without getting up to 15.
Rosemary plants outside die the instant they go below 15 degrees. Mine are still alive and kicking. Despite the snow, temperature wise, this has been a pretty mild winter. I can tell by the growth in Arugula and Spinach alongside my house. In winter, it occasionally stops growing for a good 2 months. That didn’t happen this year.
What do you mean? Everyone thinks Tesla is the only reason for her success. That’s bs. Go look at all the winners she has picked. She knocked it out of the park.
Understand, her fund gained so much in 2020 because the trends she was betting on for the previous 5 years finally hit.
BRT says:
February 26, 2021 at 9:54 am
She’s all in on essentially one bet. I’m sure she doesn’t care either. Those fees are paying handsomely, win or lose. The way she structured her ETFs, it’s a ticking time bomb. Maybe not her fault as the inflows were ridiculous.
I love Ben Shapiro:
https://www.youtube.com/watch?v=gWWT-_2zUao
Shapiro guts this guy like a fish:
https://www.youtube.com/watch?v=6VixqvOcK8E
Murphy said he wants to make nj The California of the east. I’d say he’s well in the way. It will be unbearable for anyone but the lunatic fringe just as California has become.
“Rosemary plants outside die the instant they go below 15 degrees. ”
Yup. My mint has been growing all winter. It has not been a cold winter besides that initial snap in December. Since 2010, the climate has warmed significantly in NJ. The cause, I will argue, is indeterminable over such a short run.
https://tinyurl.com/the-proof-NJ-temps
California is an enormous state with the GDP of France.
I will say that it takes a work ethic to make it here or a trust fund.
But you’ll find plenty of conservatives living and breathing in the Golden State.
We’ve got lots of hate groups too if that makes you more comfy .
Here this might make you feel more at home:
The Anti-Defamation League reported last month that there were 50 domestic extremist killings on U.S. soil in 2018 of which an overwhelming 98 percent were perpetrated by individuals involved in far-right movements, particularly white “Rather than trying to tamp down hate, as presidents of both parties have done, President Trump elevates it — with both his rhetoric and his policies,” she said. “In doing so, he’s given people across America the go-ahead to act on their worst instincts.”
The Levine Rand Paul thing is a perfect example of why the progressive left demands censorship and has no use for free speech.
They go through all of their canned arguments hateful, ignorant, etc. for why rand should stfu and when all of them fall flat, the only thing Schumer can come up with is its’s mean.
Okay so forgive him for not wanting to see unwitting minors mutilate their bodies in a phase of confusion. Asking about the propriety of them doing it without parental consent is “mean”.
This is indefensible garbage so they have to silence and censor.
Wut?
Yes, all her funds magically went up in price at the same time, despite the fact that they are all in different industries. The reality is, anyone that bought Tesla on their own performed just as good or better than her.
Anyone have an opinion on the West Windsor-Plainsboro Regional School District?
A friend is relocating here and is looking for a top school system. They are Asian.
Very strong. A lot of Asians. Very competitive. Definitely top 20 in state if not top 10.
Jodi Shaw Smith College
https://www.youtube.com/watch?v=blqpCMChBpI&feature=emb_logo
Esx, I’ll catch you up.
Biden nominated a chick who used to be a dude for a cabinet hhs spot despite a very dubious record record handling the covid in pa. She pulled its mom out of a nursing home when the democrat governors decideded they would send their sick back into them. That shows to me s covernup.
And now it’s facing confirmation hearings and refuses to answer basic questions about transgender parental rights area. It’s top secret apparently.
If JJ and MacGyver had a daughter
https://nypost.com/2021/02/26/woman-wears-her-own-thong-as-mask-in-grocery-store/
Juice: What is the endgame? Learn stuff? Get into a certain college? Inroads into a certain industry or job focus? Smart kids or average kids? Did you post on this some time in the last 3 months?
Depending on their objective, the answer varies potentially significantly?
Juice Box says:
February 26, 2021 at 12:46 pm
Anyone have an opinion on the West Windsor-Plainsboro Regional School District?
A friend is relocating here and is looking for a top school system. They are Asian.
Chi – Smart kids they are, parents are actually Longhorns so no idea if they want to do that or Ivys. Parents careers are tech and finance so maybe they will do something like that, but what do I know? Oldest is jr high now, very very smart kid, he was always that way even as a young child in Hoboken.
My previously inquiries were about Princeton and Holmdel. I was pushing for Holmdel as well it’s closer to the new Job and NYC but they seem to want to be near Princeton.
I see there are two high schools in West Windsor-Plainsboro. North and South. North seems to a notch higher according to the rankings online.
Sanctions against the Saudis, possibly the crown prince?
They have what a trillion or two invested in our capital markets? Do we really want them to pull up stakes over Khashoggi’s murder? How about $100 a barrel for Oil?
Didn’t we issue sanctions in 2018? Was pretty sure we did. Something smells fishy here.
Juice,
I taught at a school that was basically carbon copy of WWP. The competition is fierce. Basically, if you took #50 there, he/she would be valedictorian in any of the neighboring districts, including Princeton. At my district, we couldn’t even get more than 3 or 4 kids into an Ivy aside from Cornell/Upenn. Cornell and Upenn started to recognize the talent pool and admit kids en masse. Never got a kid into MIT or Columbia. Our school basically went 15 years without a single kid getting into MIT was is insane. But I read somewhere, WWP had 13 admitted over a small time period so the guidance department is clearly doing something or they have connections. IMO, might be worth it to prep your kid for college, but they’ll have a better and easier route into their college of choice by going to a neighboring district like South Brunswick and crushing the competition.
Very strong. A lot of Asians. Very competitive. Definitely top 20 in state if not top 10.
I would give it #2 behind Milburn for non-magnets.
Thanks for the input, I will pass it on verbatim.
I bought FSR at 20 two days ago. It’s over 28. I think I’ll start a mutual fund.
Unintended consequences? I like the way this landlord thinks.
https://www.pix11.com/news/national-news/landlord-accused-of-kidnapping-tenants-dumping-them-in-a-cemetery-so-he-could-evict-them?fbclid=IwAR24pa46wbMg4SFCmvtIrrUS4ajEDkbSKZ-bWhLF_zkmai6JdwDlJojRfGw
“My advice to both parties is to be patient. You have to be tolerant. There is a process. I didn’t invent it, so don’t call down to the sheriff’s office screaming and yelling like everybody has for the last 12 months,” Apple said.
This point is one of the reasons I asked.
BRT says:
February 26, 2021 at 3:06 pm
IMO, might be worth it to prep your kid for college, but they’ll have a better and easier route into their college of choice by going to a neighboring district like South Brunswick and crushing the competition.
Juice:
For Monmouth County the kids should consider…..
https://www.mcvsd.org/schools/biotechnology-high-school/
https://www.mcvsd.org/schools/high-technology-high-school/
Also, if it is college and the oldest is already a junior, then you are only talking senior year? I would rent a small apartment in Trenton and enroll the kid in the local high school. Take the SAT locally there in Sept/Oct, then transfer to WWP for last semester. Take AP classes at a remote location. Arbitrage is required…..
“Unintended consequences? I like the way this landlord thinks.”
Now that is disturbing.
3:06 meanwhile all the CEOs are earning C pluses at Univ. Of AZ laughing at the eggheads.
Chi – junior high, 8th grade other children are 11 and 7.
Thanks for the tip I will relocate to Trenton for senior year, should be no issue for
My kid as long as he is willing to take a little abuse LoL..
Does declaring yourself a special gender get preferred admission too?
Refuse to have drive license list as M or F….. declare non-binary status X
Also focus applications or the difficulties of being queer.
Look at the direction of things….. be strategic…
https://pagesix.com/2021/02/26/demi-lovato-says-gender-reveal-parties-are-transphobic/
Juice Box says:
February 26, 2021 at 6:11 pm
Does declaring yourself a special gender get preferred admission too?
Juice:
use this as your guideline
https://youtu.be/p6ee5W-9pDk?t=72
I’m confused why the urgency?
https://www.dailymail.co.uk/news/article-9304691/Teachers-aide-wont-charged-accidentally-masturbating-8th-grade-Zoom-class.html
Juice Box at 6:11 . . .
Easier to do the Trenton arbitrage with remote-only schools these days. No facing any physical harm while moonwalking into whichever Ivy they want.
Also, helpful to consider the “Racial Identification” box as pick-what-you-feel. Who is going to call a kid out for this? How would anyone at the college even start to ask the question – (“so, I notice your hair is kinda straight . . .”)?
Life is short for some of us folks, my friend who was always very fit with a BMI that would make anyone jealous had a ruptured aorta at 50 yrs old. Getting old sucks in the US, this guy lived in the gym was always tough thought he would live forever! his old man is alive at 90, Vietnam Boat “family” who worked hotels in NYC after they got here in the 1970s.
I may need Costa Rica as Jersey Sucks. library how about an expat fund. You could raise money easy…
Lib meant an expat fund, all inclusive.It easier than you might think.
Juice,
Sorry about your friend. Those can be tough. Been there, done that.
I wanna go to Costa Rica too. Wonder if they will accept my license.
Phoenix- I maybe can go, live another 20 if I am lucky with less stress maybe 30. I have visited the graveyards in Europe many lived long lives there is a chance.
wr all have to choose my kids are gone off in the next 10 yrs.
Need to have a plan as it does creep up quick….
Juice, I had plans, then my partner threw a hand grenade into our foxhole and jumped out.
There is a nice program by me for youth theater. I asked my kid if she would like to go. She would. Not too expensive. Per our agreement should she agree she should pay half.
Her response- she does not want our middle school child to be mixed with any high school kids.
Like WTF? It’s a theater. Of course that might happen. It’s not like she is 4. So I told her to call the place and find out about any concerns she has and get back to me.
Later, I pick up my kid, and my ex told her, after telling me she wasn’t paying, “what do you do to deserve to go to a place like this?” Basically telling my kid if she does not do what mamma says mamma’s not going to take her when she has custody. Now she is afraid to go.
This is how kids lose when psycho mothers are given custody by defective brained judges.
Juice,
Too bad they did not catch it early and stent it if possible. Location and size are critical. Used to do so many of these as open surgery, not nearly as many now. Same with aneurysm clippings in the brain. Many are done in the cath lab and coiled. Quicker and safer, go home sooner.
But with volume increasing due to boomers ageing, no shortage of customers. Hell I have been a customer myself 3 times. Have to say I love the crew I work with and unlike some of the unethical immoral careers out there I have to say the teams I work with have been first rate. Sure you have your days, but if it were a war and we were soldiers I would be willing to go to battle with 70 percent of those I work with. Some of the youngest ones we have hired and I have trained are absolutely fantastic and I love working with them.
Then I look at the politicians and wonder how such idiots become in charge of all of us.
When you get older and wiser, that last point about the politicians becomes clearer and clearer as your vision dulls.
I wonder how people are big lady Gaga fans.
The game of thrones. Anyone that is good and honest doesn’t win. It’s as simple as that. Change the rules of the game so you don’t attract dirtbags that will beat the honest guy every single time.
“Then I look at the politicians and wonder how such idiots become in charge of all of us.”
And I really feel bad about your situation with your ex. You def entered a contract with the devil in that one. What a b!tch.
Juice, my grandmother is still alive at 90 and kicking with no signs of slowing down. The woman has downed a bottle of vodka and a pack of cigarettes her entire life.
You’ve Done it Again America: You’ve figured out a way to blame the teachers
Helpful Hints, from a Teacher Herself, to Make Your Arguments a Bit More Sound
As I slip into almost an entire year out of my building, I can not help but ponder the continued lack of understanding that most of the trolls on the internet seem to possess towards not only the job of a teacher, but also the circumstances that inflict districts in various ways.
My school district has been virtual since March 2020. In those early days, parents and politicians alike sang our praises as they quickly realized how demanding and exhausting it is to be surrounded by their two or three bundles of joy all day, every day.
Teachers deserve to be paid more. I had no idea my kid was like this. Give teachers whatever they want, true miracle workers.
This was a first, America.
It was great, for a moment, to feel appreciated.
As a teacher of almost 7 years, normally speaking, its a fun game to see what sort of new issue you all will have with teachers at the beginning of a new school year. Like, the suggestion that we pack heat to work each day when we complained about the safety of schools or need for gun control. Or, how often we must threaten to strike since the common belief is that our union is evil and our teachers are lazy for demanding higher salaries (teachers make far more average a salary than you can imagine, just google your district’s pay scale, it’s public information!)
And that doesn’t even brush the surface of how challenging it is to work in an environment where your children come to school searching for an outlet to release their frustration, teenage angst, or hormones whereever they can, often resulting in verbal and physical altercations.
I hypothesize this may be why you feel slighted in this whole public education agreement. Virtual learning has now watered down a pretty big role and arguably the only role that many of you find valuable in our professional lives: the role of babysitter/chaperone/guardian. You think, I give you my children for the work day, you make sure they are fed, cared for, listened to, seen, all the while freeing me up to go to work or to care for the daily family needs. Right?
While your lives have changed in a multitude of ways, you were then forced to take on that role of babysitter/chaperone/guardian and perhaps the role as home tutor, in the name of public safety. That must have been jarring, being given what felt like an enormous, impossible task.
Which brings me to my first tip on how to NOT argue against teachers right now.
Stop saying: Why are we doing the job they are getting paid for? I am basically homeschooling.
Let me lay it out for you. On a regular basis the teacher plays any number of the following roles on a moment to moment basis in a virtual setting: instructor, social worker, sister, mom, aunt, therapist, mentor/counselor, friend, technology support expert and now health care worker. And those are sometimes applied not just to the student, but the family members we are contacting endlessly
Per those roles, consider that the daily walk in the shoes of a teacher will include all of the following responsibilities, every single week, sometimes every single day.
Lesson Plans (warm-ups, powerpoints, activities, lesson plan outlines, assessments, you name it) and Lesson Delivery, IEP and 504 modifications for eligible students, Parent Contact via email, phone call, and texting, Comforting, Counseling and Ultimately application of the help that our distressed students need, Recommendation letters, Faculty Meetings, Professional Developments, Office Hours (often times after school), IT brainstorming and Problem solving, Completing Progress Reports, and Maintaining a Gradebook.
So, I get it. Our role as your child’s daily guardian is no longer being fulfilled. That must be frustrating. But, unless you are personally doing each and every one of the items above for over 100 students each day, please stop claiming that you are homeschooling or that you are doing the job of a teacher. You are not. You are simply helping your child with their homework.
Stop saying: How are teacher’s continuing to get paid for not doing their jobs? I want a tax refund! They are getting paid not to work and still collecting unemployment.
To be fair, I only read the unemployment one once in the comment’s section of an article on Facebook, but it felt a little misinformed to put it lightly. If you need to reread the work teachers are doing every day and essentially what your hard earned tax dollars are going towards, please reference the bold faced paragraph above.
As for unemployment, I personally did not apply for unemployment, because I never qualified for unemployment. Since, I repeat, I never stopped working. Again, comically misinformed. I’d say drop that one from your trolling rants for sure if you want some reasonable support.
Stop saying: Kids aren’t learning! You are failing a whole generation!
Truly, if you genuinely feel that it is up to teachers to either make or break entire generations, then boy oh boy, where are my millions?
Teaching is this strange profession where the weight of the world is constantly thrown on you, where you are blamed for years of systemic issues, whether it be racism, income inequality, natural disaster, mental health, or a highly, and horrifically publicized pandemic (?), and amidst that, we are blamed, shamed, and accused of not caring enough about the youth. A limitless expectation of martyrdom in the face of society’s much deeper problems.
And on to those of you who continue to outcry that the kids aren’t learning. Maybe YOUR kids aren’t learning. Maybe. But I have classrooms full of other students actually thriving in this environment. They are finally in a classroom, be it virtual or not, where they can hear the teacher, uninterrupted, deliver their detailed lessons. Where they can recieve one on one attention literally all day, and sometimes all night. Where they no longer have to bother themselves with the traumatizing reality that is being a teenager. The fear of not fitting in. Of looking differently. Of speaking differently. Sometimes even the fear of their peers knowing that they actually care about their education.
And for those students that are genuinely struggling to self-motivate and regulate, from the amateur counselor and mentor over here, it is actually okay to struggle and fail, and learn, and become better for it.
Please, gain some perspective. Put a little more trust in the resilience of our youth and ride the wave with us. And please stop assuming that children aren’t learning. Believe it or not, teachers are resilient as well and through all of this we have actually been flexible enough to figure out very effective and engaging ways, to not only keep your kids occupied during the day, but decrease the “loss of learning” that you so deeply fear.
https://emilyriley.substack.com/p/youve-done-it-again-america-youve?fbclid=IwAR1KXkV4Qc-hXwKoEtr6eynnjAsOoWOAwuKr-SylrZEun2PotRDykTRk7xQ
The most annoying job in the world because joe public is always giving their two cents about a job they know nothing about.
They can’t handle their “own” kids at home, yet they then draw the conclusion that the job is easy when dealing with multiple bad kids in the classroom. So easy, let me tell ya.
Amazing! You of all people should not talk about those giving their two cents about jobs they nothing about. You do it all the time. Zero self awareness!
How many fights have you broke up at your job? Ever have a kid tear into your skin when you have them in a bear hug trying to get them to stop? I saved this little kid from getting destroyed by a 250lb monster. Tell me again, how good the job is. F’ing wankers.
Go cry about how the suburbs are dead since you know it all. How did the all knowing corporate guy get that so wrong?
3b says:
February 27, 2021 at 9:30 am
Amazing! You of all people should not talk about those giving their two cents about jobs they nothing about. You do it all the time. Zero self awareness!
Again, if virtual learning is so bad, then how can WFH be so much better for the worker?
Wouldn’t it be optimum in the school setting too? Why would t it correlate?
So explain that to me. If they have trouble learning through the screen, how are they going to learn on the job sitting alone behind a screen? If you can answer this, I’ll take the L. You can’t, but let’s see you try.
3b says:
February 27, 2021 at 9:30 am
Amazing! You of all people should not talk about those giving their two cents about jobs they nothing about. You do it all the time. Zero self awareness!
Remember, 3b, you are looking at it from the position of the worker and not the business owner. Not many business owners are going to like the idea of never meeting their workers . Sure, the worker might enjoy never getting out of their pajamas and never having to interact with people in person, but the owner doesn’t give a f’k.
An owner wants one thing, and that is a successful business. That requires workers collaborating and making deals in person. If a company goes WFH, they will get their a$$ kicked by the companies that don’t.
Ark getting ready to implode? COO is a radio sales person from Lansing MI. No chief risk officer. Cathie is smart, she got a lot of people to ride her train.
https://thebearcave.substack.com/p/special-edition-will-ark-invest-blow
Yea, WFH is working during a pandemic, but what happens when their competition moves back to in person too? When offices are allowed to be open in full capacity? What happens? Those WFH companies are going to get crushed by their in person competition.
Just remember, the ARK team knows the shorts are here. It’s 100% shorted.
Btw, predatory shorting should be illegal. It’s disgusting. I hope the Reddit boards come into the fight on ARK’s side, since ark favors the younger generation, and give it to these shorties.
Nomad says:
February 27, 2021 at 9:45 am
Ark getting ready to implode? COO is a radio sales person from Lansing MI. No chief risk officer. Cathie is smart, she got a lot of people to ride her train.
https://thebearcave.substack.com/p/special-edition-will-ark-invest-blow
Phoenix- sorry to hear that about the “what do you do to deserve to go to a place like this?”
I have also seen much worse games being played over custody with young children. An old friend nearly killed himself over it 25 years ago when his ex moved out of state with his young son. Another person I know his ex-wife used to make the child cry when he went to pick up his daughter and she would call the cops saying the child did not want to go with the father, really despicable games. Many times it is the father who loses that game. Keep your chin up and raise your child with your values, you are doing the right thing and your child will realize that if not now when they become an adult.
It’s not fair to change the rules in the middle of the game, or so I’ve been told by some poster here.
The Great Pumpkin says:
February 27, 2021 at 8:48 am
The game of thrones. Anyone that is good and honest doesn’t win. It’s as simple as that. Change the rules of the game so you don’t attract dirtbags that will beat the honest guy every single time.
‘My friends thought I was going to fail’: Cathie Wood on launching Ark
From Tesla to the latest innovators in healthcare, Ark Investment Management’s Cathie Wood always keeps her eye on the disruptors.
Cathie Wood has a taste for shaking things up. In 2014, after a 12-year career at AllianceBernstein, she decided to break away and build her own firm focusing on innovative companies disrupting the status quo. The move was not received warmly by her entourage.
‘Many of my friends thought I was going to fail, and they told me that because they wanted to protect me,’ Wood recalls. ‘But I never thought I was going to fail. There was a huge unmet need, and that’s the best way to start a business,’ she says.
Today, her firm – New York-based Ark Investment Management – runs $7.4 billion in assets and has become a disruptor itself, thanks to its vehicles, holdings and leadership.
Backed by two distribution partners – Resolute Investment Managers in the US and Nikko Asset Management in the Asia-Pacific region – Ark has also helped to redefine how active management can thrive in a market increasingly dominated by passive and index investing.
Wood’s firm offers a range of active ETFs, SMAs, mutual funds and a Ucits product – all of which invest in disruptive companies and technologies that the team believes will transform how the world works.
The firm’s active unleveraged ETFs consistently rank among the very top performers for three-year returns in the US. The flagship fund – the $1.09 billion Ark Innovation ETF – returned 178.2% over that period to the end of January, compared with the S&P 500’s 48.2% gain.
Another ETF, the $39.9 million American Beacon ARK Transformational Innovation fund – which was launched in January 2017 – is ranked third out of eight Global Science/Technology funds tracked by Citywire for one-year total returns to the end of January 2019. Over that period, it returned 3%, compared with the average fund in the category’s -0.3% and the Lipper Global Equity Sector Information Tech index’s -0.49%.
Natural born disruptor
While ‘disruptive innovation’ may sound like just another buzzword, Wood seems to have been preparing for the launch of a firm like Ark her entire career. In 1980, she joined Jennison Associates as an economist and quickly became an equity research analyst at the firm.
‘The analysts who were there were lifers, and they weren’t going to give up anything in their universe,’ she recalls. ‘So I had to scrape around and try to find my own names. Where did that leave me? It led me to the companies that fell through the cracks.’
She moved into the newly emerging internet stocks and soon began covering wireless stocks, which allowed her to witness the leapfrogging innovations taking place in emerging markets as the demand for wireless communications grew.
‘I learned that when analysts and portfolio managers dismiss something as being too small or something that isn’t going to fit neatly into any portfolio, those are usually real opportunities to surprise on the upside,’ Wood says.
The experience left a deep impression on Wood, who now focuses on identifying neglected and misunderstood stocks in what she deems to be today’s five key fields of innovation: DNA sequencing, energy storage, robotics, deep learning and blockchain technology.
The investment process starts with Wood and her team of analysts researching and sizing up the opportunities in each of the five fields without referencing any indices or screens. Once the team has identified which stocks are best positioned to capitalize on these opportunities, it draws up its bottom-up forecasts, investment briefs, investment thesis, expected rates of return and other financial metrics. It also develops a six-point scoring system based on measures such as company culture and barriers to entry for each stock.
Leaving no stone unturned, Ark also distributes its research and white papers on social media platforms such as Twitter, Facebook and Medium. This approach has not only encouraged innovative firms to reach out to the company, but also talent with specialized knowledge.
‘A big part of our success is social media,’ Wood says. ‘As we’re putting our research out, we’ll get the innovators in that space DM-ing us and saying “Hey, what about us?” or “Hey, have you thought of this?” or “Hey, you’re wrong.” I think the collaborative research ecosystem that we have keeps fresh ideas flowing through.’
Courting controversy
Wood has made headlines for many of her ideas, but perhaps the most controversial one is her bet on Tesla. The electric vehicle (EV) maker is one of the largest holdings in several of Ark’s funds, including the Ark Innovation ETF (8.72%), the Ark Industrial Innovation ETF (10.54%) and the Ark Web x.0 ETF (7.13%).
Tesla’s stock was trading at around $285 as of mid-March, but Wood believes that the firm could reach $700 per share in five years’ time. And that is just her bear case. Her bull case for Tesla is a whopping $4,000 per share. ‘It sounds like a big number, but if we’re right on the bullish case, then Tesla is not just an EV manufacturer, it’s an autonomous vehicle platform provider. It’s a completely different model,’ Wood says.
Tesla is much more software-centric than most people realize, she says, and software engineers – who are in short supply – all want to work for Tesla. ‘So Tesla is taking all the oxygen out of the room for the other automakers. It’s getting all the really great software engineers.’
Aside from Tesla’s software advantage, Wood believes that the firm has vast growth potential in China, which is using electric vehicles as a way to tackle air pollution. She also sees the fact that big retailers such as Walmart and Costco are now switching to electric trucks as a positive sign for Tesla, which has not yet entered the autonomous trucking space.
‘If we’re right about autonomous vehicles, that $4,000 is conservative because it doesn’t include any autonomous platform in China – it’s just the electric car sales,’ she says. ‘It is one of the most exciting stories in the market, but it is also the poster child for fear in the market today.’
Wood is referring to the various troubles that both Tesla and its chief executive Elon Musk have encountered. In particular, the media and short sellers have homed in on Tesla’s failures to meet production targets, its debt-laden balance sheet and Musk’s bold comments on social media.
‘People are scared of innovation. They’re scared of volatility,’ Wood says. ‘Volatility can be a good thing on the upside. That’s what people loved in the late ’90s. Now they think of volatility as only happening on the downside, but that’s not true.’
The new miracles
Wood argues that the innovators of today – unlike the dotcom firms of the late ’90s – can be found across a wide range of sectors. Indeed, they scale fast and spawn more innovation.
Take San Diego, California-based Illumina for example. Wood believes that the gene sequencing giant is playing a pivotal role in helping to bring the latest science into healthcare decision-making.
‘We envision that in the next three to five years, doctors will be saying, “OK, I want to get your genome sequenced every other physical exam, because I want to see what genes have mutated in your body,”’ she explains. ‘They want to do that because mutations, which are simply programming errors in the genome, are the earliest stage of diseases.
‘One of the first human trials of this is for pediatric blindness, so babies who are blind. Wouldn’t it be miraculous if we could edit that blindness out so that they can see?’
Wood was also an early backer of bitcoin. She bought bitcoin for the firm’s ETF portfolios through the open-ended Bitcoin Investment Trust when the crypto asset was valued at $250. She let it run until it hit $20,000 and then sold most of her positions before it dropped below $15,000.
However, despite bitcoin’s dramatic fall from grace – it stands at roughly $3,800 today – Wood is perhaps one of the few investors maintaining high conviction in the cryptocurrency.
‘We believe that bitcoin is the reserve currency of the crypto asset ecosystem. It’s the most battle-tested of all the crypto assets out there,’ she says. ‘In the 10 years it has been in existence, the underlying bitcoin technology – blockchain – has not been hacked. The hacks you hear about are the software applications on top of the base layer, and that’s where the hacks take place when wallets are hot. Most people should put their bitcoin into cold storage to prevent hacks.’
Bitcoin and other tech stocks have helped Wood to earn outsized returns for her Ark clients in a short period of time, but she has also set her sights on tackling a longer-term issue – attracting more women to innovative industries.
To that end, she has launched a center at her old high school in Los Angeles to educate and encourage young women to participate in these industries. ‘I’d love to proliferate this program across the US, because maybe by the time they get to college, it’s too late to inspire young women about the genomic revolution, autonomous taxi networks or blockchain technology,’ she says.
Wood knows full well the challenges women face when attempting to make a name for themselves in a male-dominated industry. She is hoping that she can inspire the next generation to break through the glass ceiling.
‘You gotta roll with the punches. I just haven’t felt very many punches, or I don’t choose to remember them, because I’m very focused on the future and getting to where I want,’ Wood says. ‘I’ve loved being a woman in the business.’
Look at her still on Bitcoin at 3800 when everyone wrote it off. She is good.
Just read that article and know she is the best at what she does. Ignore the noise and the haters.
Only thing the shorties will do is provide an artificially low buying point and then get smacked hard when these disruptive trends breakout, sending them home crying like a bully that just got his a$$ kicked.
My folks divorced when I was 4. It was super ugly. Dad got so mad, he kidnapped us one day to see us. Mom had him banned from NJ. Was so bad, I vowed to Gator that I didn’t want to get married, but then she threatened to leave me. I told her that unless she fuks up royally, she need not worry about me. And of course, this still holds true since I hold honesty far above all other traits. Listening to lies about your mom and dad for the first 17 years of your life will do that to you.
I recently told Gator, after being reminded of the divorce nightmares shared here, that if she ever fukced up and we ended up divorced, that I would threaten not to pay any child support until the alimony stopped. I would convert all of my wealth into gold and take it with me to a country where you would never find me. When the kids got older and responsible, I would give the entire thing to them. I’m the kind of person who could live quite contently in a tent foraging off of the land in say, Peru. And I would gladly do it. If she fukced me and expected alimony.
We don’t have our judgement yet for D’s education. When it comes through and the school delays paying me, I am going to call the superintendant every 15 minutes until that check comes through. The dumb HELOC I took out to pay for what was supposed to be a 45 day process has extended out to 4 years and nearly 4K in interest. Captain Cheapo does not like to pay interest. Even if the rate is far lower than the rate of his capital gains on his illiquid investments. :P
Wtf ? Did a flock of geese just land on this blog?
Shorting ARK requires huge balls. You are basically taking a short position against disruptive innovation. Good luck, that could get ugly fast.
Yes someone get a shotgun with bird shot and start firing. Maybe they will fly away…
Again, if virtual learning is so bad, then how can WFH be so much better for the worker?
Wouldn’t it be optimum in the school setting too? Why would t it correlate?
So explain that to me. If they have trouble learning through the screen, how are they going to learn on the job sitting alone behind a screen? If you can answer this, I’ll take the L. You can’t, but let’s see you try.
You’re out of your element here. School and work are entirely different animals…especially when there is money at stake.
Virtual learning is like anything else…a curve of expectations based on IQ and ability. I have students in AP Physics who are fully virtual hitting it out of the park. I also have students in AP Physics who are virtual who are performing well below what their previous grades would have suggested they do.
The success curve for virtual learning is a lot more skewed to benefit those who are of high intelligence and self motivated. The lower echelon of my regular students are starting to fall off in terms of performance. The remedial level students never had a chance because they do almost nothing in person.
I’d say virtual learning is working for 60% of the high school kids at my school. For the other 40%, it’s a big failure and if this were the 80s, we would force them to repeat grade. This curve is more heavily skewed with age. So, with elementary, I gather maybe 5 to 15% of the kids are succeeding under it at best. They just don’t have the tools to succeed yet.
WFH is for adults…not children. It works with intelligent self motivated people. WFH does not work for those who need a boss breathing down their neck and are easily distracted. Fact remains, there are a lot of jobs that can be completed WFH and people capable of doing it will get it done. Those that can’t, maybe they work in person, or maybe they get fired.
BRT,
Then why didn’t the phone kill in person sales?
How does creativity take place in isolation? Where’s the influence? Where’s the energy? You have no understanding of work culture. It’s real and it has a major impact. The more great people you bring together in a room, the better the product. They play off each other. Take that away, put them in a zoom meeting, and watch that creative energy vanish. It doesn’t go through screens.
Young workers coming in, have to see the work culture in person. Without this, they will be lost in the woods. If they are not leaving their house, and only seeing the world through their screen, how do they really know what is going on out there? How do you stay up on trends without seeing the world each day because you are locked up in your house?
I just don’t see how WFH is superior to in person hub location.
ESP when autonomous vehicles make commuting more efficient and easy, how does WFH model of staying locked in your house compete with the model that lets you leave?
lol, you are right. Maybe we won’t call it work from home. Maybe we’ll call it “hybrid”. Or better yet, you wanna foster creativity and discussion, “work from bar”.
WFH is not healthy for a number of reasons which I’ve outlined here before but even I will admit that the horse is out of the barn and the corporate real estate footprint has begun a permanent reduction.
Fast, I agree, but the end game, they will resort to in person. Capitalism is a competition. In person is an advantage and they will realize it after their failed attempt at 100% wfh. All it takes is time. Just need most of them to go 100% WFH, then get their a$$ kicked, and they will go back.
Again, CEO’s that are claiming it is successful have to realize they have done it in an environment where the office is handicapped. When this pandemic is over, and in person is able to leverage its advantages, you can say goodbye to the 100% WFH companies.
Basic jobs that require no in person interaction or creativity, only monotonous drone work will go WFH. Those jobs were going to be shipped or die to automation anyway.
12:14 wrong .
Not to put too fine a point on it Pump’er but the unskilled jobs ( McJobs) will be the ones that are first to go back! You in fact have it backwards.
Exactly!
BRT. You are right about the performance. I can’t get over how well my son is doing and how much he is learning as a remote student. Certainly, he is learning how to be more independent, which will really aid his ability to perform well in college. As a matter of fact, I can’t believe how much his learning and homework resembles college learning at this point.
Nomad, good piece on ARKK….
I don’t deny she’s posted the returns she did, that’s accurate. But as everyone in the investing space is informed “past results don’t guarantee future performance”. The relevant question is not what has she posted, but can she continue going forward.
My perspective…factually, there is one position in her portfolio that popped for fundamentals. Otherwise, the bulk of the massive run of her returns has been directly correlated with the precipitous decline in rates. Good for her, I have no problem being lucky over correct, and she did pick the space that benefitted. But to say her returns are a result of her companies’ realizing their innovative potential is just flat out factually incorrect. She is genius if she foresaw that rates would decline from 200bps to 60bps in a month because of a pandemic. Otherwise, right place, right time – along with a lot of other companies (in which she did not invest).
I see potential cracks….the biggest being her ability to handle the massive growth. There are issues mentioned in the article – no CRO, CIO with no industry experience, 10% ownership in many companies. I see more…
She is incredibly sloppy on entry points…..Specific example, SGFY…she established this position two days after the IPO at a price higher ($36+) than where it was priced ($24) and where it opened ($32)…In what universe does the hottest manager in the space – who openly commits to buying more aftermarket and advertises it – not pick up the phone and get an allocation from Goldman or JPM? Instead she pays a 10-50% premium? That kind of sh1t flies when stocks are tearing, maybe….no way in hell you run a successful portfolio LT that way though. And it shows they are spread thin.
Even better than concentrated ownership how about relative to float? Again, SGFY…on the 23rd she bought an additional 512,000 shares. Out of 1.9m that traded that day…She was over 20% of the volume and still the stock ended down 1%. Let me repeat, she was 20% of one day’s volume in a small cap stock….what does any thinking human believe is going to happen when she goes to unwind those shares?
And my biggest issue is the daily transparency…plays into both the entry price and concentration issues….she is dollar cost averaging up every time she buys and posts a new position (usually by 2-5% overnight) and again, Lord help the investors when she goes to liquidate SGFY and posts her first sell order in the daily email….
Other stuff….her daily emails make mistakes on tickers….sloppy. Up until two weeks ago they were still using Windows 7, my computer was puking all over her spreadsheets. Seriously, you manage $60B and are using 11 year old software? I really dislike that she has these two tracking ETFs…yeah, low effort, but still effort and mindshare on someone’s part. She needed them when fees were barely covering salaries, now they are just a distraction.
I like her ideas…I don’t believe there is outsized risk there so long as buyers know what they are buying – high beta, long duration names highly sensitive to rates.
What I do question – with anyone, not just her – is can she manage 100x growth in 18 months? Few people can, in any profession. My indications for her certainly do not point to ‘yes’, so when the sizzle burns off these positions be careful.
Doesn’t this apply to anything? If said person is self motivated and highly intelligent, they will be successful in any environment. The thing is, which environment makes them more successful? Isolating them or putting them in a physical room together with like minded individuals?
“WFH is for adults…not children. It works with intelligent self motivated people. WFH does not work for those who need a boss breathing down their neck and are easily distracted”
I don’t agree. Were you buying Bitcoin on the cheap at 3,500 after cashing out most of it at 20,000 after buying it for 250 dollars? Were you buying square or roku on the cheap? Were you buying Tesla while everyone was laughing at you? She is good. She is really really good. I didn’t even mention all the other ones she hit. I don’t consider her lucky, I consider her very very good at picking stocks and understanding disruptive trends.
“My perspective…factually, there is one position in her portfolio that popped for fundamentals. Otherwise, the bulk of the massive run of her returns has been directly correlated with the precipitous decline in rates. Good for her, I have no problem being lucky over correct, and she did pick the space that benefitted. But to say her returns are a result of her companies’ realizing their innovative potential is just flat out factually incorrect. She is genius if she foresaw that rates would decline from 200bps to 60bps in a month because of a pandemic. Otherwise, right place, right time – along with a lot of other companies (in which she did not invest).”
And that’s my problem with the ARK haters…they are the same as the Tesla haters. They don’t acknowledge genius and just think these people are lucky. That cults are responsible for this…just bs. They are both geniuses.
Essex,
Those jobs are dead. They will soon have almost no humans working in fast food.
You see mcds testing AI to take your orders?
https://www.cnn.com/2021/02/26/tech/mcdonalds-drive-thru-artificial-intelligence/index.html
That’s why I don’t see WFH working in the future. All future jobs will be based on human interaction and creativity. Otherwise, a machine is taking your job. Only a matter of time.
This is why I’m investing in ARK. If you can’t beat them, join them. Her autonomous fund should do well this decade.
Exactly!
BRT. You are right about the performance. I can’t get over how well my son is doing and how much he is learning as a remote student. Certainly, he is learning how to be more independent, which will really aid his ability to perform well in college. As a matter of fact, I can’t believe how much his learning and homework resembles college learning at this point.
My daughter is only in 1st grade and has blown me away. Her and one other girl in class are hitting it out of the park. The rest of them are falling behind. But the reason virtual is a disaster is that the amount of progress that the majority of these elementary students are making is not distinguishable from zero. Objective minds are going to look back in history and conclude that keeping elementary kids at home for a year was the dumbest move we could have made. Educational administrators are going to pretend there was no loss. They have no plans to even address or fill in the gaps.
I made it clear in April that my goal was to make sure my kids are going to come out of this unscathed academically. This took a ridiculous amount of personal effort with respect to my son, but easily worth the payoff.
Fast food right now might make a good business move. Imagine eliminating the low skilled employees with a machine that hardly messes up and is as consistent as they come. It doesn’t rob from you and always shows up to work.
I would imagine a fast food place will make a much higher profit under these conditions.
Dumbass….
You cannot support your thesis that she is a “good stockpicker” without evaluating her picks/returns with comparable companies’ performance….
Yes she was up 170% in 2020…that’s fact.
MRNA was up 900%. Why wasn’t that in ARKK/ARKG?
NIO was up 1800%. Why wasn’t it in ARKK/ARKQ?
AMRN was down 40%. Why wasn’t it in ARKK/ARKG?
The point is, which you seem incapable of understanding, making a qualitative statement about something (good, better, best) requires a basis of comparison. Until and unless you produce that analysis for her based on comparable companies performance you cannot make any statement about her relative performance.
Do so, or remain a dog barking in the night (as usual).
Right now until proven otherwise her returns have almost zero to do with ‘disruptive trends’ and everything to do with being at the right place at the right time. Again, nothing wrong with that, she drove to that location herself, good for her. But to anoint her anything else without the underlying analysis is just wrong. Stated differently, show me specifically the ‘disruptive technological’ innovations in her portfolio companies last year that contributed to share price gains. Good luck. The gains were overwhelmingly in direct proportion to the 10Y and stay-at-home economy which is what you see unwinding now.
Also, you seem to think I’m sh1tting on her. I’m not. I’m sh1tting on you because of your garbage, unsupported assertions.
How about The Code Duello to settle this. Waterfront in Weehawken…
https://www.revolutionarywarnewjersey.com/new_jersey_revolutionary_war_sites/towns/weehawken_nj_revolutionary_war_sites.htm
Is she supposed to hit them all?
How can you argue that she is just being carried by the wave? Why all the publicity than? Why are so many calling her the greatest stock picker of this generation? Best evidence of why you are wrong…why the huge inflows, dumbass?
“You cannot support your thesis that she is a “good stockpicker” without evaluating her picks/returns with comparable companies’ performance….
Yes she was up 170% in 2020…that’s fact.
MRNA was up 900%. Why wasn’t that in ARKK/ARKG?
NIO was up 1800%. Why wasn’t it in ARKK/ARKQ?
AMRN was down 40%. Why wasn’t it in ARKK/ARKG?”
I want to see you start a fund and buy up Tesla and Bitcoin when you are almost 60 years old. She put her whole entire career on the line and she came on top. From day 1, everyone said what you are saying…that you are making a mistake…bad idea. Well, she proved them wrong.
Van Eck Semiconductor ETF, 1000% over the past 10 years. Van Eck Biotech, up 550%. She chose the right space for the time being. Moving forward, I would be very cautious.
Pumps: You make it so easy to set yourself up and then deflect and change the subject when your caught. You said and I quote people giving their two cents on a job they never did. You have been screaming against WFH for almost a year now . How bad it is , how only low level jobs can be do WFH. How creativity will be destroyed, how teamwork and camaraderie and all the rest will be destroyed. And you have never ever worked in corporate America, and lecture myself and others who actually do that we are wrong! Do you see the irony in your teacher and two cents comment ? Do you see the complete lack of self awareness? Then you spend 10 or more posts deflecting and justifying and explaining away your two cents comment! When you should have said yeah 3b your point is taken. If I a teacher can opine on corporate America, with no experience to draw from, then those who are no teachers have every right to comment on the teaching profession. If you can’t make the connection there then you are a totally clueless.
“Is this the world’s best stock picker?”
Raiders of the ARK
ARK’s most surprising forecast is of its own backlash: “I think it’s likely that at some point, people will think that ARK was a scam, and that we don’t know our left from our right,” research director Brett Winton told Bloomberg this month.
Winton seemed to be acknowledging that the Covid-era enthusiasm for tech stocks won’t last forever. Booms tend to bust, and ARK has been among the biggest winners of the latest one. The company’s ARK Innovation ETF has left in its dust everything from the S&P 500 index of large US stocks to Berkshire Hathaway, the conglomerate run by Warren Buffett, a legendary stock picker who famously used to avoid the kinds of companies Wood seeks out—ultra-hyped tech companies that are difficult to value.
Winton says ARK (which stands for Active Research Knowledge) is looking beyond the market’s short-term to- and fro-ing and trying to anticipate what will happen in five years or beyond; this is also part of its pitch to investors. On Wall Street “there’s a lot of incentive to get things right over the short term and weak incentive to get things wrong or get things right over the long term,” Winton tells Quartz. “And so we take an intentionally longer term point of view than most investors.”
The looming bear market, when investor confidence evaporates and is replaced with fear, will be ARK’s biggest test yet.
https://apple.news/AsuB4_ExdQKe1H0mZ59-xOg
Fast WFH is perfectly healthy in my opinion if you are disciplined and have structure. Also if you have outside activities and a strong social network outside of work. If one does not then it’s a different story.
Goddess of investing
Cathie Wood became a stock picking legend at a time when stock picking was supposed to be dead. Investors have gradually glommed onto the advice that few if any money managers are capable of beating the broader stock market. Better, then, to invest in low-cost index funds, the thinking goes. So-called passive funds accounted for about half of the assets in equity funds in March 2020, up from around 5% in 1995. Active money management—trying to pick winners and losers in the stock market—seemed to be roadkill.
Then came Wood, a bitcoin evangelist who was previously the chief investment officer of global thematic strategies at AllianceBernstein. Her company’s actively managed exchange-traded funds, which can be bought and sold just like a stock, are redefining the $5.6 trillion ETF industry, which was mainly known as a cheap, nimble way to get broad exposure to large swaths of securities linked to an index.
Wood called for Tesla stock to climb to $4,000 when it was trading at $300 in 2018, a shockingly bold prediction to make on the big news networks. (Tesla shares are now trading around $3,600, after accounting for a five-to-one share split in August.) She beat all other stock pickers in 2020 by betting on companies focused on DNA development, according to Bloomberg. ARK was the seventh largest ETF issuer as of Feb. 19, according to ETF.com, with nearly $60 billion in assets.
“We thought the era of the rockstar manager was over,” says analyst Eric Balchunas, an exchange-traded funds expert at Bloomberg Intelligence. “I was wrong.”
If she keeps it up, Wood could join the league of investing masters of the universe like George Soros, famous for pocketing a billion dollars by breaking the Bank of England.
Wood had a long career in asset management before she started ARK in 2014 at age 57. She was chief economist at Jennison Associates and later co-founder of hedge fund Tupelo Capital Management. Wood was at AllianceBernstein when she had the idea of starting an actively managed ETF. But the suggestion didn’t go anywhere, so she bootstrapped ARK with $5 million of her own money. It took three years to break even, and by October 2020 her stake in the firm was worth about $250 million.
Part of the reason Wood waited until her 50s to strike out on her own is because earlier in her career she had three children at home. “By the time I started ARK, my children were quite capable of taking care of themselves,” she told Forbes. “ARK was my new baby.”
Wood and her colleagues at ARK say there are several keys to their success:
🤖 Instead of analyzing the market through sectors, ARK says it looks across industries by focusing on five key technologies, or “platforms”: artificial intelligence, energy storage, robotics, DNA sequencing, and blockchain technology.
🚀 Wood says ARK is only looking for companies involved in “disruptive innovation,” rather than incumbent firms.
📊 ARK’s head of research says it builds all forecasts from the ground up, rather than piggybacking on third-party (such as a consulting company’s) projections.
📆 ARK says it models its forecasts for five years: “Because the cost of the technology is falling so severely, the size of the market can be dramatically different five years from now than it is this year,” Winton says.
🔎 ARK says its research ecosystem is open: The company publishes its investment ideas online and expects to see those themes debated and stress-tested by others on social media.
“The brain is a social organ,” Dr. Hamilton says. In a study from the Massachusetts Institute of Technology, when participants who were completely isolated for a period of time were shown pictures of people interacting, there was activity in their substantia nigra, a part of the brain that has been linked with hunger. “This suggests that our brains are very sensitive to the experience of being alone and that social contact is a basic need,” says study author Livia Tomova, Ph.D.
“Tons of hormones and peptides are released with human contact,” Dr. Hamilton says. When we’re deprived of that interaction, inflammatory markers rise and brain hormones and neurotransmitters can diminish and well-being can deteriorate, he says.
“Basic jobs that require no in person interaction or creativity, only monotonous drone work will go WFH. Those jobs were going to be shipped or die to automation anyway.”
Like teaching. Over last year I have often wondered why we can’t get young educated Indians to teach kids by computer for 1/4 price. No benefits, no pension for life after 20 years. Cut our tax bills in half. All these Indians are far more literate in English than resident dufus. Basic algebra by second grade. Win for all. Teachers are not creative drones who provide no value.