Great Resignation to accelerate?

From NJ1015:

Why do more workers plan to jump ship from their jobs in 2022?

Job optimism is high as 41% of workers plan to look for a new job in the first six months of 2022, according to Robert Half’s biannual job optimism report, which surveyed more than 2,400 employees.

That’s up from 32% six months ago, said regional director Dora Onyschak. She added that the top reasons why workers are quitting include salary boost (54%), better benefits and perks (38%), and the ability to work remotely permanently (34%).

Surprisingly, the report also found that 28% of workers would quit their current job without even having another job lined up.

“Professionals know that they are in demand in the market, so my guess would be is that they’re not as concerned as they perhaps have been in prior years,” Onyschak said.

The report also found that 66% of the Gen Z professionals felt that their careers have stalled since the start of the pandemic. These younger workers want to be challenged so they are the ones who would typically start to look for a new job if they’re unsatisfied, she said.

About 49% of employees who have been with their company for two to four years and 47% of technology workers are also most likely to start job searching in the first half of this year.

This entry was posted in Demographics, Economics, Employment, National Real Estate. Bookmark the permalink.

94 Responses to Great Resignation to accelerate?

  1. grim says:

    From the Star Ledger:

    Omicron surge will continue for weeks, state says, with hospitalizations peaking in February

    The surge of omicron cases in New Jersey may continue throughout January, State Health Commissioner Judy Persichilli said at Gov. Phil Murphy’s Monday coronavirus briefing, with peak hospitalizations occurring in early February.

    “We do expect cases to stay at 20,000 to 30,000 (daily) for the duration of January,” she said, noting that the state updates its models on a weekly basis. “We expect increases in hospitalizations to reach about 8,000 probably by end of the third week in January, going into first week in February,” she added.

    On Monday, coronavirus hospitalizations topped 6,000 patients for the first time since late April 2020.

    “The peak (in hospitalizations) could occur in the first two weeks of February before a downturn,” she said.

    Last week at the Jan. 3 briefing, Persichilli said the state’s models pointed to a peak on Jan. 14, but she did not say Monday why the model had changed in the past week.

  2. grim says:

    From CNBC:

    Omicron-specific vaccine is coming but ‘may not matter—everybody’s going to be infected,’ says expert

    An omicron-specific Covid vaccine will be ready by March but some experts warn it could be “too late” due to the variant’s highly transmissible nature.

    On Monday, Pfizer CEO Albert Bourla told CNBC that its vaccine with BioNTech that targets omicron — and other variants that are currently circulating — will be ready for distribution by spring and that the company has already started manufacturing doses.

    But an omicron-targeted vaccine was needed in December, says Dr. William Moss, executive director of the International Vaccine Access Center at the Johns Hopkins Bloomberg School of Public Health. “It still could be valuable but I do think in many ways, it’s too late” for the current omicron wave, Moss says.

    Dr. Shaun Truelove, an infectious disease epidemiologist at Johns Hopkins Bloomberg School of Public Health, agrees: “Given how quickly this [variant] is happening, [the targeted vaccine] may not matter because everybody’s going to be infected,” says Truelove, a member of The Covid Scenario Modeling Hub, a team of researchers who make Covid projections.

  3. Phoenix says:

    “Cops ‘suspect Bob Saget may have suffered heart attack or stroke’ that caused his death in Florida on Sunday”

    It appears they can do anything, even practice medicine. Explains how they can drop a guy on his head, then convince other “professionals” of “their” diagnosis condemning that guy to be paralyzed for life with taxpayers picking up the tab.

  4. Phoenix says:

    Yeah Eddie,
    That vid was disturbing. My co workers have been watching it as well since they don’t have “qualified immunity.”

  5. BRT says:

    Thanks for answering Joyce.

    Wall is fukced up because they are misplaced hicks. That’s why there is a raceway there.

    Actually it was the rednecks that were the normal ones. It was an alliance of jocks and druggies that were the problem. Like I said, very weird environment. Something was just way off. Nothing has changed though from what I can see. My best friend’s niece had to be interviewed about the sexual assaults that occurred at parties. What you are seeing in the news is only the surface.

  6. Libturd says:


    The close friend of mine who had cancer and then died of Covid last year when his immunity was down from chemo, lived in Wall. He was a pop warner coach and his son’s team made it to the Nationals twice and even won them once. He seemed pretty normal, but the town definitely has a good number of jock parents in it. Mako said more girls did dance and cheer than boys played baseball and football.

  7. Juice Box says:

    Bob Saget said he had Covid over the holidays when Omicron was just starting. His standup joke was Delta was Opening the set and Omicron was closing it, so most likely he meant Thanksgiving. He also said in a recent interview he was just now feeling better. Could be related…

    Make sure you get a full workup if you are recovered. Long Covid is a real thing..

    Just check out the stories on twitter, scary stuff.

  8. BRT says:

    To be honest, most of it is just the school system there. It’s been rotten to the core with zero accountability for 30 years.

  9. Fast Eddie says:

    Just wondering, are the school districts who are going remote plan to return the billions in covid funds?

  10. Libturd says:

    We’re number 1!


    All those two charts show you is the difference in Flu spread when people are being careful, versus when they are not. Of course, the transmissibility of this years flu strain could have something to do with it as well. I got my flu shot. I’m sure the total number given this year will be the lowest ever.

  11. Libturd says:

    Lots of scary long Covid research coming out, especially related to children. Those who are choosing to “just get it,” may want to think twice.

  12. Fast Eddie says:

    Lots of scary long Covid research coming out

    For instance??

  13. BRT says:

    There’s no way to draw conclusions from those things, especially that graph. Osterholm noted in a talk that influenza mysteriously disappeared during the Swing Flu spread around 2008. They saw the same thing happen with other respiratory viruses that year. This was without any drastic measures. They have no understanding of why this happened. They have ideas on it but none of it has been proven. The same goes for the flu last year and several other respiratory viruses.

    The flu shots are a shot in the dark this year. We’ve always used prevailing strains from Australia/Hong Kong to predict what we should design for. Well, nobody from Australia is coming here and no one here is going to Australia. Same goes for Hong Kong. Moreover, with flu not really present last year, they have almost nothing to go over.

  14. Libturd says:

    Here’s one for example. Check out the supplement.

    You can trust it. It’s not OUR government behind it. :P

  15. BRT says:

    lol, opened another short position yesterday on PACB. Down 15% at open. ARKG for the win.

  16. Juice Box says:

    Ouch Project Veritas after Fauci now.

    They obtained memos from the DOD Inspector General and their agency DARPA on the gain of function research being proposed by Eco Health Alliance. DARPA rejected funding for it because of gain of function and Fauci and the NIAID did not, and funded.

  17. The Great Pumpkin says:

    List of Members of Congress who beat the S&P 500 this year. Proof that Congress is just one giant hedge fund.

  18. Hold my beer says:


    Do you want to try this next time you get a sore throat?

    I’m going to pass. If this mommy served my kid this I would want her prosecuted.

  19. Libturd says:


    You can wash your hands with breast milk soap afterwards.

    I’m assuming the same community that was anti-vaccine (before the pandemic) is all over completely ineffective breast milk. Any of the natural nutritional impact that breast milk provides is completely destroyed in the soap making process. Yet these organic mothers (mostly) are going so crazy for it, it’s sold out at most sources. Better yet, if the mom was an IV drug user, for example, and did not cook the breast milk enough, you can pass that drug habit or even diseases to the person who eventually uses it. We are such a stupid people.

  20. Hold my beer says:


    How are we a superpower? Pee popsicles and breast milk soap. Nasty.

  21. The Great Pumpkin says:

    People are nuts…

  22. BidenIsTheGOAT says:

    Faucis political cover will not last forever. Rand Paul has said they will investigate him once congress turns red. The truth of his crimes and the mishandling of the pandemic will come out.

    History and the final chapter of Tony Fauci will not be kind to him. It’s a very short list of people in the history of the world whose actions have led to the deaths of so many.

  23. BRT says:

    the fact that a lot of his emails on that one OPRA request were redacted is a joke. The fact that they didn’t delete the ones to Daszak show how awful they are at covering their tracks.

  24. The Great Pumpkin says:

    This is so political. Crimes and mishandling? Does this apply to other nations too?

    You make it seem like govts made all this sh!t up. How bout they were dealing with a virus they have never dealt with before? There was no handbook on how to deal with this. Everyone knows everything in hindsight. Monday morning quarterbacks.

    BidenIsTheGOAT says:
    January 11, 2022 at 11:27 am
    Faucis political cover will not last forever. Rand Paul has said they will investigate him once congress turns red. The truth of his crimes and the mishandling of the pandemic will come out.

    History and the final chapter of Tony Fauci will not be kind to him. It’s a very short list of people in the history of the world whose actions have led to the deaths of so many.

  25. Libturd says:

    “they will investigate him once congress turns red.”

    All politics all of the time.

  26. Fast Eddie says:

    All politics all of the time.

    A phrase chiseled in Makrana white marble over the golden gates of the democrat headquarters.

  27. BidenIsTheGOAT says:

    An rational person would say we should investigate the origin of covid wherever that leads. It’s killed MILLIONS across the globe.

    It’s the current political party in power that remains disinterested. Maybe they are concerned the findings will not support the narrative they’ve created. Maybe they are comfortable with their new found story under the guise of health emergency. Certainly Phil doesn’t seem to be in any hurry to relinquish it.

    So that accusation remains in the eye of the beholder.

  28. Bystander says:

    Fauci and the mean virus hurt our big orange clown’s re-election..waahhh.

  29. chicagofinance says:

    Urine comes from the bladder, not the testicle…..

    The Great Pumpkin says:
    January 11, 2022 at 10:53 am
    People are nuts…

  30. BRT says:

    All politics all of the time.

    Runs both ways. The guy hasn’t taken a single hard question from the press or the blues.

  31. chicagofinance says:

    Runs are due to an irritated bowel.

    BRT says:
    January 11, 2022 at 12:24 pm
    All politics all of the time.

    Runs both ways. The guy hasn’t taken a single hard question from the press or the blues.

  32. chicagofinance says:

    Memo To Stu: BOING!

  33. Bystander says:

    “The guy hasn’t taken a single hard question from the press or the blues.”

    Amazing when you don’t run your ignorant trap or start twitter wars all the time..just because narcissistic rage disorder seeks constant enemies ie attention.

  34. Libturd says:

    Yeah. I saw. I’m still fine. It’s early and the headwinds remain. Believe it or not, I really think housing has peaked, even with all of the current demand. When this Pandemic ends (and I hope Omicron is it). The cities won’t seem so bad again putting pressure on the burbs with rising mortgage rates. We’ll see.

    At least I was right in stating that I felt the non-techs would take the brunt over the industrials and staples.

  35. Libturd says:

    I think we should start a war with China, or at the minimum, impose sanctions due to the Wuhan Lab leak. This will make things much better for both countries and will absolutely deter this kind of thing from happening again.

  36. Bystander says:

    “Nasdaq jumps 1.3% to lead stock-market bounce as investors take testimony by Federal Reserve’s Powell in stride”

    In other words, nahh..he is all talk. Game of chicken on.

  37. Fast Eddie says:

    I’m seeing a lot of this lately in stores…

    Thanks, Joe!

  38. JCer says:

    Lib, China should be punished for their actions. We don’t know if it was a lab accident or what occurred but they lied to the world and have blood on their hands. They knew it was fairly contagious person to person, locked down internally while telling the WHO it couldn’t be transmitted person to person. They sent their tourists out into the world knowing full well what would happen. In my mind Xi knew the consequences and if China was going to have to suffer it than so would the rest of the world.

    There won’t be a war with China, they know full well a shooting war will benefit no one. China has already declared a cold war against the west and is feeding it’s people anti-western propaganda. We aren’t starting it, we are already and war and have only very recently realized it.

  39. JCer says:

    Eddie it’s really weird, I have to go to 3-4 stores in order to buy everything we want in a given week. Somehow the supply chains seem worse now than they were in 2020. Biden is a putz not only does he not help the administration actively does things to exacerbate the situation! I hate to say it but I think Hillary would have been better than Joe Biden and Kamala, they really seem incompetent and I’m not being political, Joe has done a horrendous job.

  40. Fast Eddie says:


    Don’t fear, your omicron test kit will be here in the fall of 2023!!

  41. Libturd says:


    I agree there should be some kind of punishment. Like an American boycott on Chinese goods. Will never happen though. That’s my point. And I agree. This current Dem administration is really an abomination. It seems it’s getting harder and harder to provide corporate favor and to keep the economy running well for everyone. And if this continues, the US may have Trump 2.0. Oh, the look on his face at his 2nd inauguration would be almost as priceless as the look on the typical Dem junkies’.

  42. Libturd says:

    “your omicron test kit will be here in the fall of 2023!!”

    And the results in 2026.

  43. Libturd says:

    Worse yet Fast Eddie!

    Way to go Brandon!

  44. The Great Pumpkin says:

    Should have known better. Can’t move 401k back for at least a month.

    Bystander says:
    January 11, 2022 at 12:45 pm
    “Nasdaq jumps 1.3% to lead stock-market bounce as investors take testimony by Federal Reserve’s Powell in stride”

    In other words, nahh..he is all talk. Game of chicken on.

  45. JCer says:

    Lib if Joe runs for re-election the republicans can literally run who ever they want and win. I don’t think I’ve ever experienced a less popular president than Joe. Quite literally I see “Let’s Go Brandon” on billboards, on light up signs on cars, signs on people’s lawns.

  46. Bystander says:

    I’ll take Biden’s ‘can’t get my fav coffee creamer’ over Dumpy’s ‘wipe my a$$ with my hand’ any time.

  47. Fast Eddie says:

    I don’t think I’ve ever experienced a less popular president than Joe.

    It’s Russian disinformation.

  48. Bystander says:


    I see them only on CT rednecks dilapidated pick-up trucks, next to InfoWars sticker.

  49. Libturd says:

    Joe was a horrible arrangement. But the establishment gets what the establishment wants only after an atrocity like Trump. Just so sad.

  50. Libturd says:


    Don’t forget the bumper nuts.

  51. Libturd says:

    I just got my annual increase after a very strong year both for my department and the overall company. 2.7%. Party in Wayne!

  52. Bystander says:


    In fair disclosure, I had ‘Any Functioning Adult – 2020’ sticker on my car for two years leading to 2020 election. Even had someone knife my tire prior to election. Tire shop even asked if I had a recent enemy, given location of puncture. On highway, I looked and looked for anti-Trump stickers and honestly very few found. ‘Not my president’ a few times but surprising in liberal CT. Today, I see Brandon and ‘Joe and Ho’ all over trucks and pickups. Even saw at Cmas (in eastern PA) a orange corvette, custom painted with Lets Go brandon & InfoWars sticker on back. I can only surmise that R are just much more childish.

  53. BidenIsTheGOAT says:

    The world needs to be reminded what happens in this autocratic regimes when you squelch dissent and individualism. It makes catastrophes on this scale possible. The only country imo where this could have occurred today is China. It’s no different than churnoble or the man made famines of the Bolshevik.

    And fauci and anyone else who broke the law and contributed need to be held accountable.

  54. 3b says:

    Lib 2.7 that’s pretty bad. I am hearing general increases this year of around 4 percent and up , inflation etc

  55. BRT says:

    Remember when they started releasing strategic petroleum reserves to tame the price of oil…didn’t quite work.

  56. BidenIsTheGOAT says:

    Oh poor Tony Fauci. The only thing missing were the crocodile tears. Maybe he should have thought about the ramifications of his experiments a little more closely before funding the Chinese to do them. The millions who died alone in solitude are the ones who we should pity.

  57. BidenIsTheGOAT says:

    What about the millions who he supports excluding from society if they either can’t or don’t want to be injected repeatedly with an experimental shot? He not so sympathetic.

  58. Libturd says:


    I agree. But I’m not sweating it, since I don’t need to. Quite frankly, I make more than enough to meet my needs. Plus not that many more years of salary compounding.

  59. 3b says:

    Lib: I understand. I was just surprised in this environment not more. The max for us has been 2.5 percent since the financial crisis; that is the top. This year they are supposedly raising it due to inflation, and my HR friends tell me 4 percent appears to be the norm for many companies this year.

  60. SmallGovConservative says:

    Whenever I read the embarrassing nonsense of Dem stooges like Bi and Flab, I’m reminded of Andy King, the sycophantic lackey of Fyre Festival fame, who at the urging of festival organizer/conman Billy McFarland, offered to service Bahamian customs agents in order to let water shipments in. Does anyone doubt that Bi and Flab would do the same for BareShelvesBiden?

  61. Fast Eddie says:

    There were more than 136,604 people hospitalized with COVID-19 in the United States, surpassing the record of 132,051 set in January last year, according to the tally for Monday.

    Build back better.

  62. Phoenix says:

    China here we come- stop resisting.
    Thanks Repubs.

    “It called for more information-sharing between the government and tech sector, other nations and among domestic law enforcement agencies to in part help prevent domestic terrorism recruitment and mobilization to violence”.

  63. Phoenix says:

    Make sure you have your papers when you reach checkpoint Charlie.

  64. JCer says:

    Bystander, I’m seeing it everywhere. Even in the VERY blue places like VT where there were all anti Trump signs up in 2020. Besides 30% who are real hardcore dems ~70% of the country views Biden very unfavorably. The situation is worse than most expected, Biden’s mental acuity is worse than anyone suspected, he isn’t fit for the job.

  65. BRT says:

    It’s because they didn’t realize mental decline is an exponential decay function with a short time constant.

  66. Fast Eddie says:

    It’s because they didn’t realize mental decline is an exponential decay function with a short time constant.

    The very essence of the liberal mind sojourns to the condition of mental decline and decay.

  67. SmallGovConservative says:

    JCer says:
    January 11, 2022 at 3:47 pm
    “…Biden’s mental acuity is worse than anyone suspected…”

    Have to disagree with this. The extent of Biden’s cognitive decline was obvious to anyone that was paying even a little bit of attention during the campaign. This is actually a perfect example of the extreme danger of corporate media largely having aligned with the Dem party. A Rep candidate with Biden’s level of decline would never make it through a campaign — as it should be.

  68. No One says:

    Congrats, your salary is only down about 3% in real terms.
    Are houshold incomes even rising in real terms when you remove the free govt cash?
    It’s ok, who needs wage income when we can all get rich year after year gambling on asset appreciation on stocks, real estate, crypto, NFTs, or this surge of sports bett1ing and other games of chance that seem to be going mobile. Everyone is a winner thanks to easy money!

  69. Bystander says:


    Get out of closet already. We know you have deep masculinity issues. Never heard of the guy as I am busy following Liz Hurley on social media, not gay men years after event. To each his own, saus-eege his own and it appears sausage is your thing.

  70. grim says:

    Lol, so Murphy just calls a new state of emergency after the legislature doesn’t permit to extend the current state of emergency.

  71. Libturd says:

    I don’t think signs really matter that much. Remember all of the Trump rallies before the stolen election?

    So here is the real question (and yes, it’s a little premature, but fun to pontificate). With populism still driving the red team, does anyone run against Trump? He is the master of this bullsh1t and will be hard to take down in a primary. Yet, the hatred of Trump on the left will never subside. Someone, who is just a little less insane might get the swing voters. But will someone less insane have a chance against the insurrection ring leader?

    Then there’s the question of Kamala beating say a Warren or perhaps a Pete? BLM is now a distant memory. It may be Homo Time!

  72. Libturd says:


    That Murphy’s a real piece of work. He really thinks he is above us mere mortals.

  73. No One says:

    Someone will run against Trump, the question is how much traction they get. Seems like the hardcore volunteers lean Trump in many red states. Anyone who runs knows that Trump will smear them viciously and they probably lose those virulent pro-Trumpers.
    But there are also people who voted for Trump in the last election who nevertheless desperately want Trump to not run again, because they know he will throw tantrums and smears and won’t win the general election. The problem is that Trump will never listen to voices of reason to step aside and make way for others. He’ll cling to the notion that he won the last election and is the only true winner always. So they have to hope for his death or disability.

  74. Juice Box says:

    My sources CNN and MSNBC say Trump will be in jail long before the next election.

  75. grim says:

    Republicans won’t seriously attempt to run Trump again, if they do the. The whole duck ing lot of them are morons.

  76. Juice Bxo says:

    The Orange Clown will remain in the center ring of the circus as republicans need to fundraise on the 74 million people that voted for him if they want ANY chance to take the midterms (a big if). Clown stays, all other circus performers better be able raise lots and lots of peanut sales for the Elephants or they will be shot out of the cannon.

  77. grim says:

    Going to be fun to watch geriatric Joe beat Trump again.

  78. The Great Pumpkin says:

    The irony. Imagine bashing a guy (biden) while ignoring the fact that you lost to him. Now why is that?

  79. 3b says:

    Juice: I think it’s fairly clear at this point the Repubs win the mid terms. If they run Trump again in 2024, that’s the end. That being said, I don’t think Joe runs in 2024; maybe they trot Hillary out?? Ya never know!

  80. Juice Box says:

    Win? On what? The Pandemic? Lol…S*hi**ts not even real according to the right…

  81. 3b says:

    Juice: Win on a punish the other side.

  82. Bystander says:

    Replace a mentally deficient 78 year old with a mentally deranged 78 year old, with a bad track record? He will look older and sadder in 2 years, neck like turtle head McConnell. You really believe Trump just sidesteps the January attack in primaries. He has not even faced the heat. Honestly, I would be ok with Christie. He was arrogant to shoot for presidency so early. He became a douche as he got torched by local politicians. He got some slimy two-faced DC experience, stumping for Dumpy. Guy is still smart and seems decent.

  83. The Great Pumpkin says:

    Chi, was reading up on Miller.

    This is exactly what I have been saying. I love how ark is getting beat down. The opportunity it is creating is simply amazing.

    The younger you are, the more you hope the market is down. The older you get, the more you hope for a boom so that you can cash out.

    “Question: Yes, and it also doesn’t tell you anything about the value of the business.
    Answer: Exactly. And one of the things that we have always done for the 25 years that I’ve been here, and my 90-year-old partner Ernie Kiehne did for years before that, is what he has described as “throwing good money after bad.”
    You know, Bernard Baruch said nobody buys at the bottom and sells at the top except for liars. So what follows from that is, if you’re not buying at the bottom and selling at the top, then that stock will go down after you bought it. And it will go up after you sold it.
    Because if it doesn’t do one of those things, then you bought at the bottom, and sold at the top.
    Question: In which case you’re a liar.
    Answer: Right. So you need to understand that your stock will go down after you buy it, and it will go up after you sell it. On average over time.
    But what you want it to do is go down immediately after you bought it, and be lower then. You don’t want it to be lower three years, or five years, or ten years. If you understand this, then the strategy of being willing to lower your average cost [by buying more when a stock drops] is a great strategy.
    Question: Yes, but it’s amazing how hard it is for people to understand this. It can make intellectual sense to people when they hear it spelled out very carefully. But it almost never makes emotional sense to them.
    Answer: Yes. Well, that’s why I put it that way in the letter: It seems logical, except when you actually do it. (Laughter) Then it’s emotionally difficult to do.
    Question: I have a theory that great investors are not unemotional, but inversely emotional: They get worried when the market is making most people happy, and they feel good when everyone else is worried about it. Ben Graham had that quality, and so does Warren Buffett. Do you see that in yourself?
    Answer: Yes, I’m definitely that way. I’m always much happier when stocks are trading at their 52 week lows than I am at 52 week highs. It’s simple: If you have a valuation discipline, then you know that stock prices change more rapidly than business value.
    You also know that rising stock prices mean lower future rates of return and falling stock prices mean higher rates of return. So I was much happier in the summer of ’02 when you buy everything on sale than I was in the Spring of 2000 when a lot of things were super-expensive.
    I have virtually no loss aversion as far as I can tell. In fact, my thinking goes contrary to what Warren [Buffett] says: “The first rule is, don’t lose money. The second rule is, don’t forget the first rule.”
    My view, instead, is that the evidence is overwhelming that most people are too risk averse. And that therefore they should be taking a lot more risk than they feel like is right.
    The problem is that real risk and perceived risk are two different things. And that’s where people get into trouble, because they perceive risk to be high when prices are low, and they perceive risk to be low when prices are high. That’s the psychological problem that most people have.
    Back in the fall of 1987 I was interviewed by the Washington Post on the Friday before the crash, and the market had been falling since August. And I think it was down probably 20% from the peak. And the Post reporter asked me what I thought about it.
    And he quoted me saying something like, “I’m pretty happy about that, because we can find much better bargains right now than we could in August.”
    And then the market crashes 20 percent on Monday, and the reporter writes (Laughter), “Well, I guess Miller must be ecstatic today after the crash, because think how good things look right now!”
    Of course he was being sarcastic about it.”
    Question: But, of course, you were happier.
    Answer: Well, let’s put it this way. I wasn’t happy that the market crashed, obviously, and I wasn’t happy that people lost large amounts of money on that day. But we had had 25 percent cash going into the crash, and we put it all to work right away.
    And we actually had a contrary view to what most people thought, which was that the crash of ’87 was had fundamentally different sources than the crash of ’29. And so we actually got that right for the right reasons.
    So we were happy to get the chance to buy lots of things at low prices, though we weren’t happy obviously that there was a lot of consternation and economic dislocation.
    Have you read that book Way of the Turtle yet?
    Question: No. Should I?
    Answer: Yes. Well, it’s really interesting, because what happened was, [veteran trader] Richard Dennis got all these resumes in, and he gave people questionnaires, and then he tested them, and he got ten people he was going to teach how to trade according to his system.
    And the system was mechanical. There was no judgment involved. And as it turned out, as the guy that wrote the book pointed out, that after two months of trading, he was the only one of the 10 people that actually followed the system.
    And the reason was, all these behavioral things. Because the system showed you lots of losses. And then it would tend to show you big gains. The losses made people nervous, and so the whole point of the book is that Dennis actually had understood or internalized, before people like [psychologists Daniel Kahneman and Amos Tversky] had come along, that there was a whole plethora of behavioral anomalies that will keep people from behaving optimally in capital markets.
    Question: Yes, yes, yes.
    Answer: And what’s fascinating about it, was that even with all the screening and selection of people – these guys were, like, math professors, professional gamblers, etc. – he tried to get a group that behaviorally would actually do this stuff right, and still only one out of ten did it.”

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  85. BRT says:

    You drew the wrong conclusion.

    There’s a guy out there that did a full analysis showing that ARK’s rise correlates almost perfectly with inflows and outflows. It all started with Tesla, and everyone started jumping in. As she took on more money, she just kept bidding up small caps, she and she only. She now owns 10% of them all. Once the inflows stopped, most of them have fully reverted to their original levels at the end of 2019. Sorry, that pop in all her stocks was never real. It was just her pumping it up with fresh cash.

    Consider this, she peaked when her seeder, Bill Hwang’s Archegos blew up. Is that a coincidence? She’s got a ticking time bomb and outflows are going to cause a downward price spiral in everything she owns a significant percentage of.

    Btw, if you look at a 2 year chart from the beginning of WuFlu, her gains now match Berkshire for that period. Only difference is, her funds is collapsing while Berkshire is sitting on 150 billion in cash ready to deploy. And all Warren’s companies make money….lots of it.

    Look at a chart of the SOX or SMH, semi’s have buried ARKK in performance over that period. The whole mysterious best ETF ever story is now over.

    From Twitter:
    1) Quick story. In 2000, about 10 funds cornered the internet stocks (Janus 20, Munder, Firsthand, Bill Miller, Van Wagoner, etc.) on the way up, they marked-up each other’s books and it led to inflows, so they could buy more and corner the market in each unprofitable name…
    2) Then insiders started dumping shares, VCs started selling, companies issued stock to fund unprofitable growth. These funds lost control of the float because they couldn’t match inflows with increased share floats…
    3) Then it unraveled. Slowly, then a tsunami. As fund performance turned negative, redemptions picked up. Suddenly, those cornering the market were themselves selling. They tried to prop up individual illiquid names, but someone always broke ranks and sold b/c of redemptions…
    4) By Q3, redemptions were running wild. Waves of selling every day. Companies trying to price down-rounds to get working capital, yet finding no bids. It was everyone selling. Then the margin calls kicked in…
    5) $ARKK and all the Tiger-40 clones are going to spray the street for all of 2022. When it goes in reverse, with financial leverage, it will reach a tipping point and melt. We’re almost there…

  86. njtownhomer says:

    just want to put as reference, Kuppy called it on Jan 3 just before ARKKarnage started.

    Another good call of his.

  87. Phoenixs says:

    Government forcing insurance to pay for Covid tests.

    After your 1000 dollar deductible that is.

    Swab away!

  88. Phoenix says:

    Don’t confuse CR with PR:


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