From ROI-NJ:
Why mixed-use, multifamily housing will continue to escalate in northern N.J.
Multihousing development through ground-up construction and asset repositioning has eclipsed historical levels of activity within the northern New Jersey and the greater metro New York City areas, given the strong growth in the underlying multihousing fundamentals since the recovery post-pandemic. Given limited developable land, increasing difficult hurdles toward approvals and peaking rental rates, the competition for land acquisition has never been higher, with 2022 seeing some of the highest per-unit land pricing ever.
Since the start of 2023, North Jersey has been the most competitive rental market in the U.S, outpacing the Sun Belt, according to RentCafe. The figures are based on a combination of market data — including days vacant, occupancies, preleasing numbers, construction deliveries and the percentage of leases renewed.
Jersey City, New Jersey’s most recognizable market, has had the largest rental increase year-over-year, with an over 50% increase in rental rates for one-bedrooms among its combined submarkets, totaling an average monthly rent of over $3,000, according to Zumper’s most recent national rent report.
With a less than 4% vacancy rate currently and a net absorption in 2022 that is nearly double the historical annual average, the market has been a new target for fresh capital not historically present in the region, alongside a number of historically New York City-focused builders seeking refuge from the fallout associated with the deterioration of the city’s 421 Exemption program.
Considering current market factors, however, the rise in interest rates has impacted the debt and equity markets with increased costs of borrowing or raising capital for new developments. Fund allocations have been reduced across the board and developers’ yields are being stressed by an inflated interest carry through the project’s construction timeline, and also increased capital requirements due to lower-leverage construction financing.
To combat these challenges, the trend towards cheaper construction types, introducing preferred equity atop senior notes or funding construction projects fully unlevered have produced some success satisfying yields in the current market climate.
The future development trends are just as promising.
Each of the next three years within northern New Jersey are expected to see almost 6,000 units coming to market annually, and, while the construction pipeline remains robustly active, year-over-year construction costs remain up despite a drop in pricing for select materials.
first
second
Given limited developable land…
Really? They’re plowing acres of land everywhere and anywhere. I can’t wait to ride up West Saddle River Road and see endless foundations being poured on once endless tracts of land. Tax dollars are more important than appearances, image and reputation.
Turd
Rapist: https://imgur.com/gallery/tkQIOIX
Down here in Monmouth County we have several developments going up on every patch of farmland or woodland available. Several senior living facilities too, the old Peck Farms on Rt 35 in Holmdel was farmland it was just cleared for an assisted living facility average resident is will be in their 80’s and 90’s. A real churn and burn place.
We also have what was farmland and wooded area in the next town being turned into condos, expensive ones. Right now tiny ranch homes 1,434 sq ft are selling for seven figures.
Lib/ BRT Banks loaded up on fixed income debt, with rates of 3 to 4 percent out 30 years or more, and paid big premiums for it. Lots of those bonds in the secondary market now trading at 20 to 30 points below their original offering price. Who was managing interest rate risk at these banks?? They got used to rates being so low for so long, and would stay that way. They just ignored the Fed advising that they were going to raise rates, and I can understand why, but at the end of the day it was the bank’s responsibility to manage the interest rate risk, and they failed , blaming this piece on the Fed is nonsense.
Right, 3b. They should have saw the highest rate rise in history coming. Within a year, their bond purchases were destroyed. How are you supposed to manage that on top of the new high rates causing a bank run as people liquidate into higher fixed options. It’s a mess. They raised rates too high, too fast. Now they have to bail out the banks. It is what it is.
Take a look, this is one hot felon:
https://bit.ly/44I0LmU
This is the real competitor and threat to China…could end up in a war. U.S. will play them against each other.
https://www.wsj.com/articles/india-china-factory-manufacturing-24a4e3fe?mod=hp_lead_pos5
https://www.investopedia.com/articles/optioninvestor/08/manage-interest-rate-risk.asp
In November 2021 the Chairman of the Fed stood up and said interest rates were going to rise until inflation was reined in to 2%. Inflation was running over 7%.
Fed Funds were at 0.08%.
There aren’t many truisms in finance, but one for sure…rising rates devalue long duration assets such as bonds and high growth equities.
Probably the only people more stupid on the planet than the handful of bank management teams who did not heed the warnings of the Fed and flat out ignored interest rate risk would be equity fund managers of highly speculative stocks who were still raising money in late 2021. :)
Neither should be anywhere near OPM.
Isn’t that their job, to understand finance and money?
bank management teams who did not heed the warnings of the Fed and flat out ignored interest rate risk would be equity fund managers of highly speculative stocks who were still raising money in late 2021. :)
What other purpose does a “bank management team” have other than to manage money?
Or do these cretins always know they will get bailed out so they don’t give a rat’s azz since they have the government on their payroll?
Juice, I drove through Monroe to Colts Neck…all of that 33 farmland is becoming condos
NJ, the “former” Garden State.
“Isn’t that their job, to understand finance and money?”
Yup. And out of the approximately 4,844 banks in America the vast majority of management teams did their jobs, hedged for interest rate risk, and managed their funding sources. About a dozen or so that we know of did not and three (?) were liquidated.
Guess the other 4,841 bank management teams were just lucky, because, who knew? /s
A true love story. Pretty hot in those pictures I might add:
A mother-of-three who wrote a children’s book on grief to help her sons deal with their father’s death has been charged with his murder.
Following his death, Richins wrote ‘Are you with me?’ – a picture book to help children cope after the death of a loved one. She did television interviews to promote it, and shared it on social media.
Now, police say she poisoned him with fentanyl.
One of Eric’s two sisters told police he had called her three years ago from Greece where he and Richins were on vacation together. He claimed Richins had given him a drink that made him violently ill and said he believed she had tried to kill him.
And in January 2022, Richins changed Eric’s joint life insurance policy, which he shared with his business partner Cody Wright, so that she was the only beneficiary, a warrant states.
When the insurance company told the partners, who own the business C&E Stone Masonry, of the change, they were able to change it back.
After finding out that Richins had tried to change his life insurance policy, Eric changed the beneficiary of his will and his power of attorney to his sister without telling his wife because he was scared she might ‘kill him for the money’, a warrant states.
Court documents say Richins had bought $900 worth of fentanyl pills from an acquaintance before the Valentine’s Day meal and two weeks later she asked for $900 more. Days later, Eric died of an overdose.
I said this before, but some of my least disciplined students have ended up in risk management. I was baffled by it but my friend who manages a state pension said, the banks probably like putting people like that in because they will rubber stamp anything. Think back to 2008. The guys packaging mortgages into CDOs were making millions piling crap in and just selling it. Didn’t matter if it failed, why would they care? They got money for pushing paper.
And Phoenix, on your felon, they are all crazy it’s just a question of magnitude.
But I don’t need to tell you that…..
BRT,
So there is an inherent flaw built into the system, and no plan, check, or balance to have it removed other than banging taxpayers in the pooper.
How about making banks pay for their own FDIC insurance- maybe that will “encourage” them to perform due diligence.
“A mother-of-three who wrote a children’s book on grief to help her sons deal with their father’s death has been charged with his murder.”
Well, silver lining, some therapist is going to be employed for life…..
LW
Did you see the pictures? She looks so sweet, kind and innocent.
I would have fell for that. I guess the DYFS people were right when they told me I should feel lucky. I mean, they were talking about me losing my kid-said women lie about this all of the time. Now I’m thinking lucky I’m not six feet under with a children’s picture book written about me making an ex more money.
Women are diabolical.
A man just pounds you over the head with a rock.
Only a woman would try to profit by writing a tearful sad story to her kids over your demise after she kills you.
Phoenix – It seems to be all over a 2 million dollar dream home she wanted to buy.
“Warrants say Kouri learned she had been cut out of the will during a gathering at the family home on March 5, a day after Eric’s death.
The couple had disagreed about a $2 million home that Kouri, a realtor, wanted to purchase. Warrants state she wanted to “flip” it but Eric thought it was too expensive.
Family members told the police Eric was going to tell Kouri they weren’t buying the home. But it was that very purchase Kouri herself told investigators the couple was celebrating the night he died.
Kouri closed on the home the day after Eric’s death. That same day she invited friends over for what a search warrant called “a large party at her home where she was drinking and celebrating.”
The warrant goes on to say she “assaulted” Eric’s sister, who showed up to the home.
“Up until that point, according to the family, Kouri had no idea she had been replaced in the will and Eric’s sister was put in charge of his estate, including the home, which made her financially unstable,” the warrant states.”
https://www.kpcw.org/summit-county/2023-05-08/summit-county-mom-arrested-for-husbands-murder
Phoenix, again, renting is cheaper than owning. And more pleasurable. And you don’t end up pushing daisies. BTW, you are the ‘experienced’ one.
https://www.secretbenefits.com/
BTW the murdered dad, his business was stone masonry in Utah fancy homes near Park City. To fund the lifestyle the wanted to live in million dollar homes and expensive vacations to Greece they were ripping off the day laborers and not paying overtime. Feds stepped in on that one, probably no money left for any kind of fine payment to the workers now approx 127 of them.
I don’t think you guys understand that the Fed intentionally broke the banks. What do you think the purpose of raising rates so fast was? What is the purpose of raising rates….to slow down the economy. You don’t slow down the economy without breaking chit. Those banks were f/ed one way or another…their ability to profit was shot in the head by the Fed. So what if they covered their position on those bonds….their profit would be absolutely f/ed anyway. They are the sacrifice…small banks.
So basically you are saying, we should give banks a pathway to automatic profits that no other investors enjoy?
For big banks…it sure seems like that. I’m not the one saying it…I am just calling it how I see it.
BRT says:
May 9, 2023 at 10:35 am
So basically you are saying, we should give banks a pathway to automatic profits that no other investors enjoy?
You know, there’s a reason these banks are so big in the first place. Manipulating interest rates down the in the 2000s led to a leveraged buyout craze.
Phoenix that mommy murder suspect isn’t hot at all. Bro
Marriage, at least successful ones are based on a ‘do no harm’ ethos. You are family. You are in the position to inflict some real pain on your homelife, finances, kids….etc. But you don’t. It’s that simple. I’ve said it before. I won the lottery when I met my wife.
Exactly BRT. Too big to fail continues to be even way to bigger to fail.
Chase offers .01 percent interest on a savings account and .02 on checking. I’m not just talking the low balance accounts. Their Private Client accounts, which require a minimum of 200K in balance at all times, pays the same thing. 200K at 5% interest is 10K given up a year. For that 10K, they offer such benefits as free checkbooks, free wires and ATM fee reimbursement. I doubt even the busiest law firm comes close to that in wiring fees. Yet Chase has 2.5 trillion in deposits as it’s the largest bank in the US. That’s a lot of collective stupid.
I dunno, it seems tobacco companies pay out huge dividends to ensure their shareholders keep profits in the wake of lawsuits. Banks seem to just pay out huge bonuses to their employees while they screw their shareholders and taxpayers
Lib/ BRT Banks loaded up on fixed income debt, with rates of 3 to 4 percent out 30 years or more and paid big premiums for it. Lots of those bonds in the secondary market now trading at 20 to 30 points below their original offering price. Who was managing interest rate risk at these banks??
Damned if you do, damned if you don’t.
This should have been an absolutely expected repercussion of extended periods of low interest rates (ZIRP). I can’t believe there is a single person at the Fed who didn’t absolutely realize this was going to happen once rates started ratcheting up.
Though bank stability is notably NOT part of the Fed’s mandate.
That’s the funny part.
grim says:
May 9, 2023 at 12:33 pm
Though bank stability is notably NOT part of the Fed’s mandate.
Grim, yes, but that’s why you manage interest rate and duration exposure. Banking 101…
What you don’t do – a la SVB or FRC – is load up on long duration bonds (SVB) or below market rate loans (FRC) which allow you to book good profit in a ZIRP environment when your funding costs are effectively zero while assuming those funding sources (large deposits) will remain in your institution at zero when rates rise.
And not hedge any of those variable funding costs against your LT, low fixed rate assets….
I mean, that is as basic as it gets.
Kind of like from a consumer perspective buying a $1m home with a floating rate mortgage by qualifying on the first year introductory rate of 0.50%…..
Lib, throw ABNB on a watchlist…earnings tonight, I wrote some puts to grab a bit of ST income and toehold in….wouldn’t go actual full delta long ahead of earnings on this one – vol is really high, options are saying to expect a $10 swing overnight (8%), and forward p/e is fat but it can be one of those like META that if she falls out of bed and hits the floor would be worth a look….not going away. And no one really displacing them.
This comes back in under 100 I’m interested, so long as it’s not because of some operating implosion….
I know it probably misses most of your screening criteria but….
Lefty,
If these banks hedged and didn’t blow up, what would the Fed have to keep doing right now? They blew it up on purpose. They kept raising till it broke. Facts. They were never stopping till the banks started breaking.
The fed has always been behind the curve. Bernanke was the first where we have a highlight reel of him being wrong the entire time leading into the GFC. If any members actually had foresight on the shortsightedness of any of their issues, they were shunned and eliminated very quickly.. The fed became a groupthink tank the past 20 years.
ABNB ….lot of people watching from what I have read.
ABNB def played a role in this tight inventory. A lot of people bought properties for this reason….esp in shore communities.
UST 1M 550
“If these banks hedged and didn’t blow up, what would the Fed have to keep doing right now? They blew it up on purpose. They kept raising till it broke. Facts. They were never stopping till the banks started breaking.”
Pumps, again nicely, but nearly everything you post on this topic is not correct.
Yes, of course the goal of the Fed to bring down inflation requires an economic slowdown which by definition includes a constriction of credit (corporate and personal).
That is accomplished by raising rates…there is no overt desire to ‘break’ the system…and factually nothing broke (three incredibly poorly managed banks of 5,000 in this country were shuttered) and further the entire backdrop in which the Fed operates assumes financial stability….ie, they specifically do NOT want anything to break and the genesis of ZIRP was to keep the system from breaking last decade….
chi, that pricing captures the presumed default date?
“China has multiple issues they’re dealing with.
It has the fastest aging society in human history.
In 2020 they begrudgingly admitted they had overcounted young population by 100m.
A low birth rate of 1.16 kid per woman.
Highest 65+ population with 166m. India has a bigger total population but only 85m that are 65+.
A negative net migration rate for 70 continuous years.
Majority of their economy is dependent on imports and consumption.
It’s important to stay paranoid but things are not looking too good for 🇨🇳.”
Left,
I see the Fed over and over break it when it gets overheated and immediately come to the rescue to fix it on the downside. Over and over. Simple as that. No zirp ever again…yea, right. Sure. I think current rates are the anomaly now…not the norm.
Does anyone know of a good resource to learn how to purchase munis?
I really need to invest tax free in the “D’s” Special Needs Trust and Muni’s are the way to go, even though they suck right now. Income in a trust is taxed at ludicrous levels unless distributed.
Lib,
https://www.bondview.com/
Are us treasuries taxed by the state?
Thanks Nomad! You suggest I pay the $6?
Pumps, you do you brother. I’m just going to do me and continue to print money across markets. GL.
“Thanks Nomad! You suggest I pay the $6?”
Only you brother, only you (meant as a compliment)…thanks for the chuckle.
Left,
I am not being snarky or confrontational. Being sincere. I see the Fed always raise until they break something. So, these banks could have covered their behinds, but imho, it wouldn’t matter. The Fed was always going to keep raising until something breaks. Only way to stop inflation. No such thing as a soft landing.
LW,
I knew it was coming.
Phoenix,
That Utah realtor murderer woman sounds like one vile bitch. And dumb too. Sounds like it didn’t require a Detective Columbo to solve this crime. But I disagree on her hotness. That kind of excessively tanned, excessively made-up look has never been appealing to me. And she looks older than 33 to me. Wonder if she tried to sleep with the detectives to get off the hook.
That’s the problem, you don’t see the artificially low rates as an environment that fosters the creation of things that break. There’s a cause and there’s an effect. You always focus on the effect, not the cause.
JJ used to think of himself as a muni expert.
Sadly long gone.
Treasuries only taxed by IRS
Left yes. The market is pricing the day of default and the curve bends around it. No different than a year end or quarter end.
Regarding the failed banks. Beyond the mismanagement. It is also myopia. Sometimes your first loss is your best loss. But these jackasses didn’t want to have a bad quarter, so they buried their addiction. Too bad they OD’d
I don’t have sympathy with these banks that failed. The stuff they failed on is in any Bank Management 101 course. Duration risk management is basic risk management for banks. Scenario analysis is basic risk management. It’s so basic, that it’s surprising they could have screwed it up that badly. And these were supposed to be elite banks with supposedly smarter than usual bank management.
I am having trouble understanding the risk premium offered to leave ones money in UST through the default date. An extra percent or two on a four to eight week investment but my entire six figure principal is at risk? WTF? Who would take that deal? I can, and did, just move it over to one of these zombie banks @ 4.68% with FDIC backstop.
It’s strange how I perceive risk around the ceiling date. I would have to be compensated an extra 6%, on top of the 6%, to ride it out as geriatrics duke it out with maga heads and special interests. foh!
It was all of those free wheeling tech stock funding dollars. The gravy train was never going to stop.
What does that tell you. If it’s bank management 101, why did they fail? It’s the Fed. They rose too hard and too fast. There are consequences for every action. Like grim said, they knew exactly what they were doing. That’s why they come to the rescue so quickly. Just my opinion.
No One says:
May 9, 2023 at 3:06 pm
I don’t have sympathy with these banks that failed. The stuff they failed on is in any Bank Management 101 course. Duration risk management is basic risk management for banks. Scenario analysis is basic risk management. It’s so basic, that it’s surprising they could have screwed it up that badly. And these were supposed to be elite banks with supposedly smarter than usual bank management.
Understand that they want to break something by raising rates. That’s their goal. To not stop until something breaks, and then come to the rescue. Then new cycle begins and we do it again.
They wanted to break runaway inflation you dumbass.
Understand that when I make a comment saying Understand This it makes my point valid regardless of what I typed. Simple as that. You guys don’t know chit.
Isn’t it crazy that despite her best efforts to hide it, one day those kids will be sitting at a computer, and will Google that tragic event and be able to read this very article which throws shade at their mom and pegs her as partying in the new house next day.
Face,
Prove me wrong. What exactly is their goal by raising rates? How do you stop inflation?
If it’s not by breaking something, prove it to me. I am all ears.
Irrespective of whether your actual thesis is a bit of a stretch, this is now your fourth posts about “breaking things”. You don’t need to repeat it three times, we got it on the first post. I don’t agree with it, but I got it.
It is crazy that I never know if you are pasting from twitter or authoring.
You don’t understand chit, understand this.
BadaBing!!! Cha-ching
Grab em’ by the pocket book.
You can do that when they abuse you.
Pumps, my point to you is larger. Nothing’s broken. Or tell me what is.
Starting there one would reach the better conclusion that SVB and FRC management are totally incompetent (as independent facts around their respective situations demonstrate). Not as you somehow conclude that exactly because of the facts somehow the Fed is the issue.
It’s not.
These were literally the most telegraphed rate raises ever. JPow said out loud to everyone in the market rates were going up. A lot.
The ass clowns running these two banks not only were naked – unhedged – but as chi points out wouldn’t cover their mistake so as to avoid ‘losses’.
Just like your hero CW – who likewise probably needs an Investopedia interest rate article to help her – these are cases of individual incompetence. Not mass delusion.
The Federal Reserve deserves plenty of blame for a lot of things over the decades. Distortions that central planners cause.
However, Pumps just likes blaming the fed these days because Cathie blames the Fed for sucking. It’s an excuse. Pumps is dumb and Cathie is kinda clueless too. That’s their excuse for latching on to these narratives to deflect blame.
Meanwhile, in the real world of bank management, all banks are quite familiar with what the Fed does and can do. Bank risk managers don’t get to say that they’ve never heard of central banks hiking rates to slow down economies. It doesn’t matter whether you’re for it or against it, for or against central banks. It’s just a fact of reality you’re paid to manage the risk of. If you let the events of the last couple years take down your bank, you weren’t a good bank risk manager. Because big picture, this was an unusual environment, but any good risk manager should have seen it as a possibility. Rates rose so much because they started at the lowest point in history, which anyone with a passing acquaintance with the history of interest rates should have considered a big concern, and at risk of reversing.
I am perplexed at how Pumpkin touts his own ability to have foreseen the run up in home prices (in part driven by generationally low interest rates), yet doesn’t think people running banks, hedge funds, and publicly traded companies could have foreseen the effects of rising interest rates on their operations.
“It’s only when the tide goes out that you learn who has been swimming naked.”
Was pricing new 4Runners for giggles and noticed that not only has the inventory skyrocketed, but Toyota’s APR for financing is over 8%. That should put some downward pressure on inflation. I sure as chit wouldn’t finance a vehicle at that rate for any period of time, let alone 60 months or more.
PS. PumpkinFace I like the cut of your jib. Keep up the great work.
There were people buying 100 year Austrian bonds earning 2%. These people deserved to live with their losses.
Beyond that, as we pointed out, there were companies carrying absurd amounts of cash in single uninsured accounts. Literally, zero risk management.
He doesn’t get it, because he loves inflation. He thinks all prices should rise, except for oil, when that rises, it’s evil.
SVB was f-king warned by the Fed several times to get their act together. The ignored it all together.
Here is the report, it’s damming to say the least.
https://www.federalreserve.gov/publications/files/svb-review-20230428.pdf
“Beyond that, as we pointed out, there were companies carrying absurd amounts of cash in single uninsured accounts. Literally, zero risk management.”
ROKU.
CFO of ROKU was a Divisional CFO at WaMu when it became the largest US bank failure ever.
Guy should have never been near any financial firm or public company again. Ever.
Fast forward to March, as CFO of ROKU he left $500m of funds in SVB which under law would have been lost. But the government (you) bailed his misjudgment out. Again.
Oh, and btw, that demented grandma at ARK was active buying his shares in size, post-SVB failure, as recently as 4/27.
The multiple levels of incompetence are mind boggling.
She truly deserves the companies in which she is investing. They are as clueless and failure ridden as she.
I am a history teacher. Perspective is everything. So many different stories from a single event. Now put yourself in the shoes of the Fed. They are expecting these banks to fail. SVB is the sacrifice signal to the Fed at what point in the rate cycle they are at. It really is as simple as that. Those blowups, instantly contained, has the Fed thinking they are in total control. And truth be, I think so too. They have mastered this chit. So smart now. We just had the longest bull run ever…every year the bears were calling for the end not realizing this time is really different when it comes to the Fed. Case and point, the response by the Fed to deal with an economic black swan that shut down the economy and didn’t even lead to a depression. Times are different. We bottomed.
leftwing says:
May 9, 2023 at 4:38 pm
Pumps, my point to you is larger. Nothing’s broken. Or tell me what is.
Starting there one would reach the better conclusion that SVB and FRC management are totally incompetent (as independent facts around their respective situations demonstrate). Not as you somehow conclude that exactly because of the facts somehow the Fed is the issue.
I’m telling my wife to go hard into small cap vanguard (vscix). She still wants to remain 100% in “safe zone.” Big mistake inho. Hopefully, she wakes up and smells the coffee. Cycle changing. New bull getting ready. Go with the small cap that have been destroyed and rise the fastest in a new bull bottom.
This bear market rally has been longer than any from 2001 era. So this summer is the big test. Like i said, just invest in biotech or small cap and call it a day. They have been beaten to chit. Be there before the rate trend changes, and they all pile in.
The S&P entered official bear market territory (20% off) for a grand total of like a week. Some might say, the bear market hasn’t even begun yet.
BRT,
Perspective again. Put yourself in the shoes of the avg market participant in 2023 compared to 1999. No comparison. Tech has made the avg lemming much much smarter. The whales learned that with amc and the 2021 flash crash that was bought up immediately because this lemming is not the same lemming of yesterday. Now you have to be so far ahead of the game to make a killing. Hence, my only buys past year…DNA and ETH. Both long-term. Have to love ETH paying 6% at the moment. Like getting a 6% dividend on a high growth stock. Winning.
I’m seeing lots of companies that depend on discretionary dollars have eroding earnings. Just saw a report on TV for example, where Ocean City rentals are down 5% year over year. I would not count the bottom in just yet, nor would I put so much faith into the FED being done with their cycle.
Big inflation report in the morning. It could all change then.
Lib,
Respect that. Timing is hard. I am extremely happy I was fortunate enough to liquidate my wife’s entire 401k position first week of 2021. That’s a lottery ticket long-term. I understand i was extremely lucky with that, but i also understand i created my own f’ing luck. All this ocd reading paid off. I felt the wind of change of the leaders of the lemmings. Got out before they all realized what they were going to say. Thank you social media tech. Different world and changing fast. Hope i can continue to keep up. It’s so much work.
Believe the Fed sees two CPI releases before the June meeting IIRC since the meeting is mid-month.
Must be nice, too bad I don’t have a career where I can be bought.
https://youtu.be/wJuRx1wARUk?t=5433
Richard Dreyfuss on new Oscars diversity rules: ‘They make me vomit’
https://www.cnn.com/2023/05/08/entertainment/richard-dreyfuss-diversity/index.html
“Because it says that we’re so fragile that we can’t have our feelings hurt.”
What a video. Thanks again, Frontline. You never fail to amaze me.
Clarence Thomas = Rush Limbaugh.
One would think by looking at them they would be opposites. Or maybe that is my distorted perception, IDK.
It’s amazing how money and power can do anything. Like mix oil and water together-or cats and dogs, cops and robbers…..
Joyce,
A divided country cannot revolt. And, just like in a divorce, it’s an opportunity to steal from the middle class.
More people having conversations about the shooting in the mall vs what is happening on Wall Street. (exception being this forum)
Never let a good crisis go to waste when you want to steal. Distract and pickpocket.
Subprime auto loan defaults are expected to reach 2008 levels. Article in Market Watch this morning.
Market expecting 0.4 monthly increase in CPI, and 5 percent increase from last year.
3b
What is going to happen to many middle class American finances in 3, 2,1.
https://youtu.be/4Z7GkV5DqOI?t=13
No rate cuts this summer after this mornings CPI numbers.
C’mon, give the lady a chance. She said he had four months. It isn’t June 23rd yet. Plenty of time for him to die yet. She could be telling the truth.
“A Pennsylvania-based fortune teller from New Jersey not only failed to predict the future but allegedly conned a family while doing it.
An elderly couple had driven by, seen her sign, and “became curious” so they called the posted number and booked a $50 tarot reading at 3:30 p.m. on Thursday, Feb. 23, 2023, according to the affidavit of probable cause.
While at the reading, Mitchell pulled the “death card” from the deck and declared that the husband had four months to live — that is unless the couple agreed to pay $500 for Mitchell to “perform some type of cleansing ritual,”
More important to me FFR now above CPI, no?
Need to dust off my ‘glide path’ analysis but back then I thought this setup could initiate a solid bull run….debt issue and banks may have a bit of a lid on this market right now…clear the debt in early June, toss in benign CPI on the 13th, and we could be off to the races with JPow on the 14th…
I may put on some low cost, high payout positions…could be in for a face ripping summer, up.
Left: Fed can pause, but no rate cuts in my view. If the next CPI number is good as well, then Fed remains paused. No need to cut rates.
I thought the goal was 2% inflation. You think JPow’s stopping at 5.5% on core? I know where you are coming from, and wouldn’t be surprised by the face ripper as we’ve been flat for over a year, but I am seeing so many cracks. Personally, I’m waiting till I see 13K on the Nasdaq. If that happens, I’m motoring back in. Am watching as carefully as I have ever watched.
Some names to explore from our meeting last night. FleetCOR. Boring, fuel card business that’s printing money. Skyworks, when she turns, it’s going to be in a big way. Stock is fairly valued, but will be overvalued for sure with the new iPhone cycle and the industry shift to 5G on everything.
I expect market to fly today, but expect JPow to tell everyone to temper their expectations by Friday. Could be a crazy three day rally.
Yup, I agree. Trying to get my wife to put back 401k.
leftwing says:
May 10, 2023 at 8:55 am
More important to me FFR now above CPI, no?
Need to dust off my ‘glide path’ analysis but back then I thought this setup could initiate a solid bull run….debt issue and banks may have a bit of a lid on this market right now…clear the debt in early June, toss in benign CPI on the 13th, and we could be off to the races with JPow on the 14th…
I may put on some low cost, high payout positions…could be in for a face ripping summer, up.
Not suggesting rate cuts, they won’t happen this year unless we’re in a scenario we don’t want to be (serious recession)
Left: Understood, just commenting on those in the market who were pricing in rate cuts starting in the summer, and through end of year.
ABNB. Ouch.
DNA earnings out today….it might break the 1.40 resistance.
It also might break the buck. If I had balls, I would short some. I just may gamble a little.
Good luck, Lib! I would be careful. Just broke 1.40 resistance.
Why would this quarter be any different than any of their past quarters? What changed?
They are projected to lose another .10 per share. Annualized, that’s .40 a share. The shares are only worth 1.40 today AND THAT’S AFTER LOSING $1.28 TRAILING TWELVE MONTHS. If they miss this quarter, it’s Titanic time.
ABNB’s value prop was destroyed when flipper homes became the most prevalent property offered. Used to be unique properties managed by owners, with care. Now, it’s a wasteland of flippers hiring lowest bidder maintenance.
I remember being in an ABNB in London on a business trip, no heat in apartment, no help from the 800 line. I found out unit was managed by a hyper coke head with something like thirty keys on his key ring. ABNB was an aberration of ZIRP and I hope it all goes down in a fiery inferno of compressed cap rates.
I was in Budapest last year and initially looked at ABNB’s but then I woke up, click click, new Crowne Plaza property and done. The CP in budapest was so sick that it cured me from logging onto ABNB ever again.
Long live the international hotel chain!
We’re going stargazing in a dark sky location in western US and I rented a camper in the middle of nowhere via hipcamp.
Tangential thought: Thinking back to the s-hole motels I would check into as a broke college student to get my d wet gives me the shivers. It seemed more than fine at the time but now? Yikes!
The beauty of being long.. zero care given to current price. I actually hope it stays down so I can buy some more at these levels.
Libturd says:
May 10, 2023 at 10:10 am
Why would this quarter be any different than any of their past quarters? What changed?
They are projected to lose another .10 per share. Annualized, that’s .40 a share. The shares are only worth 1.40 today AND THAT’S AFTER LOSING $1.28 TRAILING TWELVE MONTHS. If they miss this quarter, it’s Titanic time.
That pancake in a can company has been down for a nice long time, you must be thrilled with the never-ending opportunity to accumulate at ever-lower prices. Hope all your ideas work out just as well for you in the future, pump-king. You truly have an array of “no-brainer” investments.
“ABNB. Ouch.”
All good. Let it come to you brother.
I wrote some 100Ps, rolled them down for 2x premium to 90 strike….same strategy for me as META…keep riding it down but paying myself to do so.
Jerk-off in custody. Grifting Old Party.
Next up..,,you know who…,
Wouldn’t be surprised at all if Santos gets re-elected.
He represents the brand well
Kind of sick of Biden, I wish he’d step aside.
He seems crooked as hell.
Tolls are going up again on the Parkway, Turnpike etc. Thanks Murphy. That’s now the third 3% increase in four years?
Don’t worry though. Murphy will make sure you don’t hear much about it.
At least Santos will finally get to use his Harvard Law degree.
Biden is your most established establishment Democrat. Nearly every single move he makes is to pay back those who supported him. Lately, the easiest way to do this is through solar, wind, battery and other “green” investments. So, it doesn’t matter that mining for heavy metals in Africa is exploitive, or that our grid can’t handle the number of electric cars he wants to put on the road. What matters is that all of these Mom & Pop campaign contributors can collect huge salaries as executives of these revenue-less businesses that are being heavily subsidized by grants in the name of climate change. It’s not illegal, nor was insider trading by the likes of Pelosi. And you won’t hear much about this stuff because it’s the low hanging fruit issues, like gender equality, that get all of the airplay. Of course, the young people eat this stuff up making things look pretty damn ugly for the Red team. So get used to it.
To be honest I think Biden is a creepy, incompetent fool.
But, as usual, the red team is worse. If you can imagine.
The Country is circling the drain.
MEANWHILE
California Gov. Gavin Newsom declined to endorse the cash payments – which could reach as high as $1.2 million for a single recipient – recommended by his reparations task force, telling Fox News Digital that dealing with the legacy of slavery “is about much more than cash payments.”
“The Reparations Task Force’s independent findings and recommendations are a milestone in our bipartisan effort to advance justice and promote healing. This has been an important process, and we should continue to work as a nation to reconcile our original sin of slavery and understand how that history has shaped our country,” Newsom said in a statement to Fox News Digital.
While the Democratic governor applauded the task force’s work, he declined to endorse any specific recommendations, though he pledged to continue to “advance systemic changes that ensure an inclusive and equitable future for all Californians.”
I wish Eddie could tour this house for sale in Miami. The photo with the hole in the roof illuminating a wall full of jack-o-lanterns and halloween masks is a nightmare view. Clearly people are willing to pay over 650k for the land value only.
nypost.com/2023/05/09/wrecked-florida-house-lists-for-650k-gets-multiple-offers/
Miami is a humid hellhole filled with imbeciles.
The joke is on all of those third wolders flooding the borders every day. They thought they were escaping banana republics and third world justice systems. Maybe some of them will take a look around at leftist America and decide to head back.
The red states are doing so well! Maybe they’ll settle there.
Oh wait, no the tacos suck there.
The hubris is astonishing. Smash a country to pieces, steal everything that isn’t nailed down and funnel it to your family, demand total complicity, and then when you’re investigated, start an impeachment hoax. That’s what was done. The dupes(you) go along for the ride.
ExEx,
Plenty of good tacos in FL. Good Cuban food as well. Ever had stone crab claws? Blackened grouper sandwiches? There is definitely better Asian food in CA or NJ than in Florida, however. Easier to find French bistros and bakeries in my part of FL than in NJ. Easier to find good Italian delis in NJ than probably CA or FL. Easier to find great barbecue in southern states than in CA or NJ.
Keep an open mind and you can find good food in many parts of the US.
Nothing more annoying than people who come to Florida and whine about how they can’t find “New Jersey pizza”, or “New York Chinese” or “California tacos” or “Cincinnati chili” or “Philly Cheesesteak”.
I’m hoping some chefs move down to start some Chinese Chinese restaurants. But there are plenty of good restaurants of other kinds around. Like this one that opened not too far away from my FL home, because the chef wanted to get away from repressive Washington DC.
https://www.tampabay.com/life-culture/food/2023/01/11/sarasota-tampa-bay-best-new-restaurant/
The difference between mediocre or “good” tacos isn’t that much. Same with pizza and bagels for that matter. Mix in some papa John’s and Pizza Hut with the local joints and you’re good to go. Freshness and care are a big part of it.
A decent pizza, you can occasionally find in other parts of the country. Bagels, you cannot.
2:49 Trump?
No One
Wish we would have gone there last week instead of the Meat Market in Tampa. 12 guys on a golf trip got hammered for 450 a head, and it sucked. That place is a joke.
Guess what the headline article is tomorrow? Will I get attribution? A fat kielbasa’s chance in hell.
The Home Buyer’s Quandary: Nobody’s Selling
Many are ready to move but don’t want to lose the low-rate mortgages they locked in a few years ago, crimping the supply of homes and keeping prices high
https://www.wsj.com/articles/low-mortgage-rates-home-sales-low-supply-899aab29
No one
Exactly. Lots of great food in the DFW area. The pho places are phenomenal with so many Vietnamese in the area. There are even real bagel shops that make their own dough and cream cheese. Mexican, BBQ, and Asian food is superior I think in this area than NJ. We even have multiple pizza places run by NY expats. Haven’t found any good delis though.
When I lived in Los Angeles, locals swore by Noah’s bagels. What kind of bagel shop does not have a bagel oven. It was no surprise to me, when I tasted one, that it closely resembled a Lender’s bagel.
Hughsrep,
Ouch, I don’t even know how to spend that much on a dinner. I hope at least the golf was good! Many like the Columbia restaurant in Tampa, (Cuban) I think it’s ok. After I got good at cooking prime and/or dry aged ribeyes on a cast iron skillet at home, my interest in paying up at overpriced steakhouses fell even lower.
HMB,
I heard there’s a real Chinese community around there, probably working in office jobs around there, creating demand for good Chinese restaurants, and grocery stores. Of course the beef BBQ especially brisket must be great, and of course the Mex, Tex/Mex too.
And now, we find out if DNA should be a DNR.
take your base effects and shove them up your ass.
leftwing says:
May 10, 2023 at 8:55 am
More important to me FFR now above CPI, no?
Need to dust off my ‘glide path’ analysis but back then I thought this setup could initiate a solid bull run….debt issue and banks may have a bit of a lid on this market right now…clear the debt in early June, toss in benign CPI on the 13th, and we could be off to the races with JPow on the 14th…
I may put on some low cost, high payout positions…could be in for a face ripping summer, up.
Just looked it up. Noah’s is owned by Panera. Why am I not surprised.
DNA was UGLY!
Lot’s of positive cheerleading and negative numbers. Knew I should have shorted.
When I am not in the mood, I actually bail on the Raritan Bridge Parkway toll and hit route 9 to 34. It is actually enough for me to notice. So stupid. What is it $2+ approaching $3?….. especially at night it is almost the same timing to my house….. I can hit Costco in Marlboro for the cheapest gas to boot during the day.
Libturd says:
May 10, 2023 at 11:45 am
Tolls are going up again on the Parkway, Turnpike etc. Thanks Murphy. That’s now the third 3% increase in four years?
Don’t worry though. Murphy will make sure you don’t hear much about it.
4:00 Western Bagels are better. Still not “Bagel Box” quality though.
NoOne….ex-Tampa bay dude here. Columbia makes some great food.
Love the Boliché. As for the pizza and bagels in FL I think there is something about the water in FL that makes the bread and the pizza crust less than delicious.
Brits call it “having a Chinese.”
Americans are triggered over that.
turd: good Jewish girl from Jersey done good…. I hung out with her a bit about 10 years ago down here for some alumni events before she bagged NJ for CA to follow her friend.
No toll roads in Nevada. And they even monitor the carpool lanes.
Less than two years to go baby!
https://alumni.cornell.edu/cornellians/winston-bagels/
Smart girl. Northern Jersey is really becoming an overpriced shithole. There’s so much traffic now, you can hardly get around.
https://boichikbagels.com/
Did you have Paige Spiranac as your waitress? Should have for that kind of money.
Hughesrep says:
May 10, 2023 at 3:43 pm
No One
Wish we would have gone there last week instead of the Meat Market in Tampa. 12 guys on a golf trip got hammered for 450 a head, and it sucked. That place is a joke.
I wonder if she passes any of the cost savings down to the customer.
Just like when plumbers switched to Pex, yet charged as if they were sweating copper pipe all day…..
Don’t bother, I know the answer.
The brilliance of the bagel machine is that most bagel shops really struggle finding people willing to work the boiler and oven. It’s a sweaty, hot, labor intensive job. You also get lots of burns. Most shops have one bagel maker who works 4am to 10am Tuesday through Sunday. Monday’s bagels are cooked by the backup to keep him trained for when the bagel maker needs off. Nearly every bagel shop runs the same schedule. It pays decently for an unskilled position, but it’s not worth it. They all used to be Jewish. Now they are all Latino. A reliable one can pull in 40K.
Looked at DNA’s report. Revenue of $81 million was down quarter over quarter and over 52% TTM. This was their second to worst quarter out of their last six and the trend continues downward except for their one surprise 98 million quarter before this one. And management is still likely overpromising in their reaffirmation of forecasting yearly revenue of 275 million. I suppose, if they are not around a year from now, what does it really matter. Time to check insider selling to see if the liars backs their mouths with their wallets.
Not so brilliant if you are now an unemployed Latino bagel boiler.
He is now homeless on the streets of San Francisco.
Geez, a quarter of the shares are owned by those two cheerleading firms, Gifford and ARK.
Kelly, their CEO sold 2/3rds of his remaining shares for 32 million dollars since October.
Holy lack of confidence.
The whole lot of the executives are showing little faith as well.
http://openinsider.com/screener?s=DNA&o=&pl=&ph=&ll=&lh=&fd=730&fdr=&td=0&tdr=&fdlyl=&fdlyh=&daysago=&xp=1&xs=1&vl=&vh=&ocl=&och=&sic1=-1&sicl=100&sich=9999&grp=0&nfl=&nfh=&nil=&nih=&nol=&noh=&v2l=&v2h=&oc2l=&oc2h=&sortcol=0&cnt=100&page=1
I don’t see a single purchase among them either.
PUMPS. You could not be banking on a flimsier stock. If you love synthetic bio, wait for this POS to collapse and buy the firm that will purchase their scraps for pennies.
What a flaming piece of garbage.
I love seeing Baillie Gifford lose money. Arrogant pricks.
Honestly, I’ve never witnessed such deplorable insider activity ever. I am beginning to think DNA is more of a scam than anything. I gotta look up their owners history and see if he even has a background in biotech. It’s really laughable how clueless Pumps is.
4:20
Here: https://youtu.be/WgOIEGz7o_s
Pumps is a legend in his own mind.
Lib,
I am not even going to waste my time explaining the insider sales. If you really care, I will, but I doubt you care…so not going to waste my time.
As for revenue, who f’ing cares at this stage, esp in a bear market that has smashed the entire biotech sector to pieces. You care about the partnerships and the data. Data is beyond valuable. It’s everything.
Understand how their model for printing money works and how it is being developed. They are eventually going to have downstream royalties coming out of their a$$. As every manufacturer of any product is going to come to them for the R&D because no one can compete with the price. Give it f’ing time. You are bashing amazon in 2001 and don’t even realize it.
Every expert pissing on Amazon in 2001 for the fundamentals. The buyers of amazon stock in 2001 didn’t care about the revenues they cared about the actual business and the potential for growth. That’s all I care about with DNA. Show me a better play on synthetic bio manufacturing. There isn’t. This is a sector that doesn’t really exist right now…picture the growth of the company that is the driver of this new high growth up and coming sector. That’s what I am here for.
They have partnerships with huge companies. They take gingko seriously.
https://www.fiercebiotech.com/biotech/ginkgo-execs-nab-364m-pay-packages-thanks-2021-spac-deal
Just wow. Firm raises 1.6 billion and immediately issue over one third of it to their two founders?
I looked up Kelly’s resume. Quite unspectacular. He created a Wiki in graduate school to share BIO research called OpenWetWare. That’s it. I give him credit for getting into MIT. That’s his absolutely only accolade. Scorpion is right. His brilliance is in marketing a concept as world changing, that has been going on for centuries. Damn, why didn’t I know about this when the stock was at $20 or $10 or even $5. I would have shorted this the whole way. It is clearly a scam.
If I believe this is going to be a much bigger company in 5 years…why do I care about the now besides building a position under 2$.
The two best disruptive investors in the game ballie and ark are huge percentage owners. I will ride that tail all day.
That’s his only accolade? Lmao. Right…
Scam? Lmao. Come on, Lib. Get real.
Yea, Ballie owns a huge percentage of a company because they think it’s a scam. They don’t do their DD…right.
“They have partnerships with huge companies.”
What is to stop a competitor, who will be significantly cheaper, from doing the exact same thing. Heck, the information they are mining might not even legally belong to them. You are such a gambler.
I’ll tell you the difference between Amazon and DNA. Bezos didn’t try to bankrupt the company through taking disgusting levels of compensation for figuring out that people might want retail shipped to them rather than go to brick and mortar. Mapping DNA and cataloguing it is not that novel of an idea.
Go look up Bezos resume. Fucker worked at McDonalds. Built Amazon with 300K from his parents and told them there was a 70% chance it would go broke. I’m not a big fan of that peckerhead, but he didn’t bankrupt his own company through outsized compensation. He didn’t use his IPO dollars to compensate himself. He used it to buy out as many small bookstores as he could. Sure he was issues a shitload of shares, but he waited until the stock exploded before selling any of them. Kelly is doing the complete opposite. He will have no shares when and if DNA explodes. Well, that is until he writes himself and his partner another disgusting compensation package at the next SPAC if there even is one.
Quite frankly, I wouln’t touch DNA with a ten-foot pole donning Silkwood gloves.
You are right. You need not explain why he is selling all of his shares as the stock slipped from $20 to $1.
Give me one accolade besides his marketing skill.
Lib, check out Helen of Troy, the new CEO has put options on his company.
I know Helen of Troy
They had big layoffs earlier in the year. They always run a tight ship. In the 80s and 90s, they were a big investment club stock. Their brands are very high quality. OXO, PURE, HONEYWELL, BRAUN. These are all best of breed in their areas. Companies that care about the quality of their products tend to do well.
Pumps,
Did you get your bitcoin mining dividend from the canned pancake people?
Phoenix
Paige was not my waitress, though the talent in that place was pretty impressive. Place was a scam, one of those places to be seen, as much as Tampa has something like that.
Since we had a large group, we had a $3500 minimum, they had a $1000 deposit on one of the guys (the one local) cards. We get there and they shuffle us off to a back room, we had a limited menu at $175 a head. So guys start ordering over priced wine to hit the minimum. Booze wasn’t included. Ran it up to $4500. One of the worst ribeyes of my life. Ponderosa bad. They just took us for a ride.
Funny, we had twelve guys getting off of a van. As we were piling out I hear some young hottie say “look at all the old guys getting out of the retirement village.”
Golf was great. Streamsong is very good, Old Memorial was excellent. Highly recommend Old Memorial if you have a connection.
Lib,
These people get it. Others saying what I was saying earlier.
“If you are a long term $DNA shareholder, there are only a few metrics you should care about, and they are not what most daytraders focus on. They are the total programs, program growth, average royalty across programs, and the success rate of programs. Some of these metrics like total programs and program adds are available. The number of programs determines future revenues which are more important than covid sales goimg away or did they meet this quarters cell engineering revenues. I get the disparity between bears and bulls. They are completely focused on different metrics. I, for one, am in the long camp. Nothing in a single quarter will change my thesis unless is significany affects programs.”
“He who has the most data ( $DNA ) and AI will be the winner.”
“If you don’t use $DNA assets you are not doing the best science.”
“Happy to see Ginkgo focusing on what I envisioned when I first heard about the company a couple years ago. Generating as much data as possible to produce the best AI models for biotech innovation. No more slow tedious work.”
“The industry has to catch up to $DNA and stop R+D and start Cell Engineering.”
ExEx says:
May 10, 2023 at 12:34 pm
“…I think Biden is a creepy, incompetent fool…But, as usual, the red team is worse.”
Only if you believe that a secure southern border is worse than a wide open border, that 2% inflation is worse than the highest inflation in 40 years, that Israel signing peace accords with multiple Arab nations is worse than Israel at war with it’s Iran-backed neighbors, that peace in Europe is worse than Russia invading Ukraine, that the red mayor leading boom-town Miami is worse than the Dem mayors running their cities into the ground, etc, etc…In other words, you’d need to be a complete stooge to argue that the red team is worse.
Red Team sucks. None of those things you listed are rooted in reality.
Both teams are full of crazies. It’s wild. So angry. Does down to earth and boring just not work in the age of tic toc?
Kelly is even better. He worked with his college professor to start a lab built from scraps to keep it cheap as possible. Then grew this into a billion dollar company. People compare kelly to musk. He understands how to take complicated ideas and simplify the idea the masses. It’s a f’ing rare gift. Marketing is everything…steve jobs. Wake up.
“Go look up Bezos resume. Fucker worked at McDonalds. Built Amazon with 300K from his parents and told them there was a 70% chance it would go broke.”
They have a ton of class A shares. They are only selling shares from said spac reward compensation. Most of it for taxes. They are skipping getting compensation this year. All for the sake of the company and shareholder. They pay themselves chit salary to keep costs down. Look at the balance sheet. This company is run correctly. They have a mission and plan, and they are executing at a high level of success on these programs.
“He will have no shares when and if DNA explodes. Well, that is until he writes himself and his partner another disgusting compensation package at the next SPAC if there even is one.“
That’s where day traders get it wrong. They look at their compensation costs from spac deal and think that’s the normal costs. It’s not. This company has been around for 14 years. God forbid the founders get a reward for bringing it public. The selling has hurt the share price, but smart people have been buying up the cheapies that wouldn’t be there without the shorts and insider “forced” sales. Cathie has been buying up their position as have other institutional investors. They increased their positions while the insiders sold. I wonder why?!
“They are eventually going to have downstream royalties coming out of their a$$.”
Rarely happens. Can type you paragraphs on why, but the fundamental reason is negative selection…any high quality prospective drug candidate is pure gold for a company, small biotech or large cap pharma. The last thing in the world they give away is an interest in it. There are dozens of ways to finance R&D and production cost other than giving away an interest in your most valuable asset, your raison d’etre. Think of it this way, your most valuable asset is your house. How many times have you, or any people you know, given away an equity interest in their house to pay a current bill. You pay your plumber and landscaper with interests in your house? Of course not. Neither do companies, unless they are at the end of the line and the ‘house’ isn’t worth much, ie. negative selection.
“You are bashing amazon in 2001 and don’t even realize it. Every expert pissing on Amazon in 2001 for the fundamentals. The buyers of amazon stock in 2001 didn’t care about the revenues they cared about the…potential for growth. ”
Here, I agree with you. Regarding the original Amazon, ie. retail. Which business is still unprofitable and if it had stayed with its original business plan would be bankrupt. It burned buildings full of money to create huge topline scale that was (is) unprofitable. Hello, DNA.
“They have partnerships with huge companies. They take gingko seriously.”
Every single biotech has this…not only is it commonplace, it is required. Try raising funds without it, can’t. A large part of the biotech IPO process is queueing up these announcements in advance to be made post-offering to support the company/stock. From the large company perspective it’s not really a huge vote of confidence, just a VC type bet, one of many dozens they make. It’s not nothing but the newbs on twitter making out to be unusual and extraordinary are just wrong.
“The two best disruptive investors in the game ballie and ark are huge percentage owners.”
ARK demonstrably has lost more investors more money than nearly any other manager that hasn’t been jailed. BG’s growth portfolio since inception has underperformed the Russell by several points, as I showed here the other day. You literally lost money giving it to them rather than just tossing it into a passive index. Yeah, that’s performance I’d follow, lol.
Trump up to his old narratives.
CNN Town Hall
Lies, lies, and more lies.
WoW, just WoW!
I am not feeding a penny stock/crypto addict’s need for validation.
Bye everyone……Enjoy what remains…
LOL, I thought hearing him again would be tedious but it’s actually entertaining…liked the exchange on Ukraine/Russia and noted the strong audience applause on his ‘don’t care’ comment regarding who ‘wins’.
Not bad, when faced with a black swan rate rise environment. Still more than doubled their money since 2014. So, what do you think happens if you start piling in now? Of course, the lemmings will make the same mistake again. They will avoid buying blood in the street, and buy when ark is cool again because of massive gains. They will chase and get killed again, and then blame ark. Can’t help these people. They have no discipline, conviction, or experience to play the game.
“Although ARK Innovation ETF ARKK has more than doubled its value on paper, growing a $10,000 initial investment to $21,000 today, essentially every ARK Innovation shareholder is in the red, as evidenced by when its assets arrived (the blue bars) and the fund’s subsequent performance (the red line). Such results do not occur with index funds—not to that extent. For example, the cash flows for Invesco QQQ Trust QQQ, also a highly volatile technology fund, have been far less volatile.”
And for for everyone on this blog, putting cathie down…is more than doubling your money in 9 years not good? Even though you could have sold much higher? Is it not good enough for you? Lay off cathie. She is good.
You have been ripping bitcoin for over 10 years. When are you correct on it? DNA has been slaughtered in a bad macro environment for biotech. Easy with the penny stock talk. Penny stocks collecting interest on 1.3 billion cash?
Juice Box says:
May 10, 2023 at 8:55 pm
WoW, just WoW!
I am not feeding a penny stock/crypto addict’s need for validation.
Bye everyone……Enjoy what remains…
Uhhmmmm…can’t let this one go….you do realize the quote you use above *denigrates* ARK’s performance, does not support it….Right?
And you do realize that the most positive spin on her performance – doubling your money over nine years – is a return slightly in excess of 8%? That is what the S&P returns historically…..
I’m following JB on this topic, Pumps. GL.
Left,
And like I pointed out…she still doubled your money investing in high growth in the highest rate rise environment. Aka at worse, you double your money with her if you miss selling the top. Sign me up!!!
But of course all you cherry pickers rip her by comparing her performance AFTER THE PEAK. ROTFLMAO
If we are going to take this short sighted approach, why should I invest in the stock market at all?!!!
Again, it’s your job as an investor to sell peaks when investing in high growth disruptive strategies. Don’t blame anyone but yourself for being greedy if you miss the sell. Own it and learn from your mistake instead of blaming others.
Good luck Pumps.
I can’t believe we are hurtling toward DJT v Biden 2.0…….
Left,
I am being sincere. We are in the worst macro environment possible for high growth disruptive companies. You know the science. Why would you not take a position? Don’t miss the ride. Ballie and ark are going hard on this. Two best in the game. Why bet against the best? That’s major balls, especially when they are going so hard. They don’t throw away money (unless we bash ark for performance in a rapidly rising rate environment which is not f’ing fair). You have money…why not throw 5k at a long position at current prices? Upside potential blows away the risk of losing 5k. Big whoop. But if you win, holy chit!!! Might have a 200 times bagger.
It’s sad…but have to go Trump. Biden is too far gone and it’s embarrassing.
leftwing says:
May 10, 2023 at 9:22 pm
I can’t believe we are hurtling toward DJT v Biden 2.0…….
Pumps, if you put together a checklist of 15 items – fundamental, market related, corporate – to evaluate any investment DNA fails on at least ten of them.
Too much time shouting into the wind…Lib, I, and others here lay out a plethora of specific issues. Scroll back if you want to know. I invest. I don’t gamble. I don’t hope.
Good luck.
“…take your base effects and shove them up your ass…”
Who peed in your cheerios lol
Again, being sincere. These same metrics applied circa 2001 to FAANG…looked dead. This here is the difference my friend. 5k to maybe a 1 million. Why not? That 5k really matter? Most people end up dying with how much of a percentage of their wealth? Why not take a risk on good upside bets ? Have to be to stupid.
If you think the avg human being even knows what DNA is..,lmao…no way in hell. Have to be sophisticated to find this.
I know what I own, esp at current prices with 1.3billion cash option with under 2 million market cap. Give me the scam shares!
leftwing says:
May 10, 2023 at 9:47 pm
Pumps, if you put together a checklist of 15 items – fundamental, market related, corporate – to evaluate any investment DNA fails on at least ten of them.
What were Facebook, Google, and Netflix priced at in 2001?
The paradox in the title has dogged politicians for generations: why does the wealthiest country in the world also have the highest rate of poverty among industrialised nations?
This is the land of New York and Los Angeles, of skyscrapers and space rockets, of multibillionaires Jeff Bezos, Warren Buffett, Bill Gates and Elon Musk. Yet one in 10 Americans is officially poor. According to the US Census Bureau, the official poverty rate in 2021 was 11.6%, with 37.9 million people in poverty (an example definition being a family of three with income below $21,559).
Rank observes: “You can find poverty in rural areas, in urban areas, in suburban areas, which actually have some of the highest numbers of folks in poverty. In terms of race, it’s a double edged sword. Two thirds of the poor in the United States are white; however, if you’re non-white, you’re at a much greater risk of being in poverty. Both of those things are true.
“That’s why I say the reach of poverty is very wide in the United States. I’m looking at the risk of poverty across people’s lives and what’s the risk of poverty in the next 20 or 30 years? If you do that, the vast majority of Americans will experience poverty at some point.”
This is because Americans suffer greater economic insecurity than their counterparts in other western industrial nations, Rank argues. Many are in low paying jobs without benefits. If they lose that job or fall ill, there is little to protect them.
Another day another escalation per CNN.
Going to be some big booms in Crimea.
The British/French cruise missiles just delivered to Ukraine can easily hit Crimea and carry a big punch 990 lb warhead. Brits only have about 1000 of them so whatever CNN says was delivered maybe 50-100 are probably for the counter offensive push to hit hardened command and control targets in Crimea like Airbases or even Russian Navy ships. News has reported the Russians are moving the Black Sea Fleet out of Crimea.
https://www.cnn.com/2023/05/11/politics/uk-storm-shadow-cruise-missiles-ukraine/index.html
Same Tune Different Day:
https://www.reddit.com/r/facepalm/comments/13enejj/doubling_down_on_2020_election_fraud_claims_even/?utm_source=share&utm_medium=ios_app&utm_name=ioscss&utm_content=1&utm_term=1
“doubling your money over nine years” – I couldn’t leave it alone either.
My goal is to double it every five years, but realistically, it’s been around seven.
CEO OF OPENAI TRASHES REMOTE WORK AS A FAILED “EXPERIMENT”
“I think definitely one of the tech industry’s worst mistakes in a long time was that everybody could go full remote forever,” the OpenAI co-founder and CEO said, “and startups didn’t need to be together in person and, you know, there was going to be no loss of creativity.”
https://futurism.com/the-byte/openai-ceo-remote-work
Commercial Real-estate fire sales now…
350 California St. San Francisco office Building that was worth for $300 million in 2019 just sold for $60 million.
This is the Financial District by the Four Seasons.
A downtown San Francisco office building has reportedly sold for roughly 75% less than its previously estimated value, a bad omen for the sagging commercial real estate market.
This wasn’t the first time the owners of 350 California tried to sell the property. In 2021, bidding for the building never surpassed $180 million and owners took it off the market, according to the Wall Street Journal. In 2019, the property was estimated at around $300 million, brokers told the publication.
https://www.sfgate.com/local/article/350-california-sf-office-building-has-sold-18087040.php
Dear Tara Reade,
You’ve got the green light, go for it. Understand though, that those red laser dots all over your body are media snipers ready to take you out.
Juice,
It’s greed. Simple as that. Hopefully no one buys it and the homeless move off the streets and into the building.
Just watched Trump town hall. America is so f -ed should he get in, or Biden for that matter. His answer for the economy, drill for oil? W TF? Not that I am against it, but that is clearly not the correct answer.
But I can see why people like him if they believe what he says.
This country isn’t even close to finding middle ground from within.
Tell a big lie. Goebbels
ExEx says:
May 11, 2023 at 10:23 am
Same Tune Different Day:
https://www.reddit.com/r/facepalm/comments/13enejj/doubling_down_on_2020_election_fraud_claims_even/?utm_source=share&utm_medium=ios_app&utm_name=ioscss&utm_content=1&utm_term=1
Eddie,
Narcissists double down. They aren’t fazed. They believe the fantasies in their heads.
I don’t believe her, nor Trumps accuser. That one got 5M. It’s what she wanted.
FOLLOW THE MONEY.
Fast Eddie says:
May 11, 2023 at 11:07 am
Dear Tara Reade,
You’ve got the green light, go for it. Understand though, that those red laser dots all over your body are media snipers ready to take you out.
Lol – Google IO annual developer conference, here is a clip of Sundar Pichai’s speech.
I gather they are going to use AI?
https://twitter.com/verge/status/1656354548703719427
She testified that when they ended up in the store’s lingerie department, he ushered her into a dressing room, where he shoved her against a wall and sexually assaulted her.
IDK,
I would think that if you walked into a department store, pushed a woman into a dressing room and attacked her she would scream to high heavens. But then again, it’s Donald Trump. I guess it’s believable because he is an arrogant pushy narcissist who gets what he wants, and she is a woman who is impressed with men who have money and power-so she probably showed interest as this is the type of man she would be normally attracted to-and why she didn’t make a peep.
Why couldn’t Trump have pushed me???
Eddie – That allegedly occurred in a Capitol Hill office building assuming it is under District of Columbia laws there would be no lawsuit available now as the 5 years is the limitation of time for bringing civil actions for sexual assault in Washington DC.
In Trump’s case the Legislature of NY changed the law amended it with the New York State’s Adult Survivors Act (ASA) last November. She had no case before that the stature of limitations had long expired, now it is indefinite, so if you grabbed some ass (male or female or OTHER) at work back in 1987 you can now be sued.
https://www.huffpost.com/entry/trump-sexual-assault-e-jean-carroll-adult-survivors-act_n_645acba6e4b0c10612e7eef1
11:45 interesting take Phoenix. But the Incel misogynist Club is two doors down.
re: Statute of limitations changed to indefinite in NY.
How did her case jump the line too? You would think with civil case it would take many many years..
What is interesting about the change in NY for the Statute of limitations on civil lawsuits for sexual crimes only is the simple fact that after the passage of many years, relevant evidence may well have been lost or destroyed. Like for example camera footage or phone records or even witnesses may have died. This is for both the defendant and the plaintiff.
I cannot see how this is not going to start up a whole cottage industry of suing people for things that may or may not have happened a long long time ago. Especially people and companies who now have deep pockets. The mere threat alone may just be enough as going to court is simply too expensive.
If Trump did what he is accused of happened only last year there would be way more evidence that is for certain.
This is just the beginning for Trump’s legal woes.
Surely Trump would not do it. It would have to be on record that he just moves on them and grabs them by the p$ssy.
https://www.newsweek.com/former-donald-trump-staffers-accuse-sexual-harassment-white-house-1799333
JB, think NY opened the window for a year for past acts beyond the statute of limitation.
BRT, 11:12p, I see what you did there….
Lib, toeholding in to BAC….
https://www.newsweek.com/trump-cnn-town-hall-carroll-whack-job-1799633
Ex- I do know between blunts you can see there is more to the story. How did this civil lawsuit which was filed right after the State of NY changed the statue of limitations in November of 2022 make it to trial so quickly? Pleadings, discovery, trial etc usually take much much longer in civil cases. Seems to me the Judge made sure to clear his calendar of other civil lawsuits to move this one along…Hey what do I know, maybe I can get a judgement in under six months too.
Saved you a click:
“This is a fake story. Made up story,” Trump said Wednesday. “I have no idea who the hell she is. She’s a wack job.
SIGN UP FOR NEWSWEEK’S EMAIL UPDATES >
“What kind of woman meets somebody and brings them up, and within minutes you’re playing hanky-panky in a dressing room?” Trump said, prompting laughter from the audience.
Legal experts and political commentators have now suggested Carroll could file a new defamation lawsuit against Trump after his latest comments.
“I hate that CNN allowed E. Jean Carroll’s name to be dragged through the mud again by this terrible man. Sure she could sue him for defamation again,” tweeted Sherrilyn Ifill, lawyer and former director-counsel of the NAACP Legal Defense and Educational Fund.
“That doesn’t change the hurt & humiliation at the laughter, and at the knowledge that CNN was willing to expose her to this,” she wrote.
“That doesn’t change the hurt & humiliation at the laughter, and at the knowledge that CNN was willing to expose her to this,” she wrote.
It is laughable….to JB’s point on the reason for statutes of limitation they are in place in large part exactly for those reasons….memories disappear and change, witnesses as well, evidence….IIRC she couldn’t even pinpoint the exact date….how the fuck does someone get convicted without a specific occurrence of a crime…how can you defend yourself against some amorphous charge regarding *when the event occurred*
I mean the most basic defense to any case is alibi….you accuse me of something in the past and I can show I was somewhere else it’s over….yet, now, we don’t even have to specify a date? Just sometime in the past this guy may have done this to me? Really?
He’s just beginning to experience the penalties for the things he’s done in the very recent past. Stay tuned America. Even his vacuous daughter is putting distance between them.
FRONTLINE documentary on the destruction of the Supreme Court. Check your local PBS listings.
“ Thomas doesn’t consume mass media, but he has Ginni, whose parents subscribed to conspiracy theories and who would go on to embrace QAnon and become a devotee of Donald Trump. Another close confidant was Rush Limbaugh. “Limbaugh brought politics and the culture war to Clarence, and fed that impulse inside of him,” said Kirk. “He was feeding the fear factor, and feeding the binary view of the world.”
Leftwing,
I like BAC a lot down here. >3% dividend. Very low risk play, both short and longer term. Banks do well in higher interest rate environment. They look to be the most undervalued of the big ones and came off a few nice quarters. Heck, may buy some myself.
I need help wrapping my brain around a stat which makes little sense to me:
US Commercial bank deposits were $13T prior to the pandemic, then ballooned to $18T, wtf? Was this the elusive stimulus for the poors? Were these payroll direct deposits that were not being spent down throughout the month?
https://fred.stlouisfed.org/series/DPSACBW027SBOG
If this was payroll being banked, then should the resumption of spending cause the numbers to plateau and not reverse?
Boomer. PPP was the most abused program in the history of the US government. You won’t hear about the rampant fraud because EVERYONE did it. I bet half of congress took it.
Then there were the stimulus checks.
But this inflation was a supply issue.
Here are the Republicans.
The politicians and the forgiven Paycheck Protection Program loans
Gaetz is a shareholder in Pensacola, Florida-based Caregivers Inc., which received a $475,932 Paycheck Protection Program loan.
Before taking office in January 2021, Marjorie Taylor Greene and her husband, Perry Greene, bought Taylor Commercial Inc., a construction business owned by her family in Alpharetta, Georgia. The company took out a $182,300 loan from the program.
Rep. Gregory Pence, R-Ind., brother to former Vice President Mike Pence, owned two antique malls in Indiana organized under Pence Group LLC. It received a $79,441 loan.
Car dealerships owned by Rep. Vern Buchanan, R-Fla., before he took office in January 2021, also took in loans from the COVID-era program. Sarasota 500 LLC, which operates Sarasota Ford in Florida, received a $2.32 million loan; Nissan of Elizabeth City in North Carolina got a $384,200 loan. The government forgave both loans for a combined $2.6 million.
KTAK Corp., a restaurant management company co-owned by Rep. Kevin Hern, R-Okla., had a $1.07 million loan forgiven by the government.
Rep. Roger Williams, R-Texas, owns a Texas car dealership through the JRW Corp. in Fort Worth that received a $1.43 million loan.
Trace Die Cast, a Bowling Green, Kentucky, company founded by the father of Rep. Brett Guthrie, R-Ky., received a $4.3 million loan.
Four Pennsylvania car dealerships owned by Rep. Mike Kelly, R-Pa., took in a combined $974,100 in Paycheck Protection Program loans, ProPublica’s database shows. Mike Kelly Automotive, LP received $197,300, Mike Kelly Automotive Group Inc. received $327,500, Mike Kelly Hyundai received $180,800 and Mike Kelly Chevrolet received $268,500.
Heartland Tractor Co., a farming equipment company owned by Rep. Vicki Hartzler, R-Mo., and her husband, received a $451,200 loan.
Five car dealerships owned by the husband of Rep. Carol Miller, R-W.Va., received a combined $3.1 million in Paycheck Protection Program loans. The loans to DM Motor, Dutch Miller Chevrolet, Dutch Miller Subaru, Dutch Miller of Charleston and Dutch Miller of Charlotte were all forgiven.
18 congressional Republicans and one Libertarian have received $21.7 million for 38 businesses with which they are associated. Nine Democrats received $6.1 million for 11 of their own businesses. An additional roughly $54 million went to nonprofits, think tanks and policy institutes, congressional caucuses, and higher education institutions tied to members of both parties.
It’s good to be rich.
Sigh. I got a total of $72 dollars across all four checks, IIRC. Just minutes ago, I came home from school with the kiddo and fished out a anchor payment denial letter from my mailbox. FML. I can’t imagine being below where I am on the socioeconomic ladder,… this would surely be a miserable and untenable existence, and yet I am somehow a bracket busting bsd when it comes to any sort of help from the state.
“I can’t imagine being below where I am on the socioeconomic ladder,… this would surely be a miserable and untenable existence, and yet I am somehow a bracket busting bsd when it comes to any sort of help from the state.”
Welcome to modern Liberalism.
I am not excusing anything, however, recall, the intention was to give companies money so that they would in turn hand it out to employees, instead of laying them off during COVID lockdowns. It wasn’t free money per se. Now if the recipient withhled the money and did not pass it along, that is a separate issue. Receiving the money is not prima facie evidence of anything.
Libturd says:
May 11, 2023 at 3:42 pm
Here are the Republicans.
The politicians and the forgiven Paycheck Protection Program loans
Gaetz is a shareholder in Pensacola, Florida-based Caregivers Inc., which received a $475,932 Paycheck Protection Program loan.
It’s good to be rich.
4:13 Blah Blah Blah…..I got tickets for the Cure….Bitchez.
Ex Ex,
Those tickets are nothing to be proud of. Robert Smith even with all that make up looks line Sen. Feinstein morning pillow face. But they still not as bad as other octogenarian boomer touring bands.
Make sure you bring the motorized wheelchair and a few picker uppers to keep you awake past 9pm.
This is more your speed:
https://www.instagram.com/reel/CrE2w9ssnjf/?igshid=MzRlODBiNWFlZA==
I imagine that the majority of PPP recipients did not need to lay off staff, knew if they would need the money or not, and instead kept the money. I guess all that was already downstream of real fraud which occurred in application.
What a joke!
“NEW YORK (Reuters) -A former U.S. Marine is expected to be charged with manslaugter on Friday after putting a homeless man in a chokehold that killed him on the New York City subway, the Manhattan district attorney said on Thursday.
The man, identified as Daniel Penny, put 30-year-old Jordan Neely in a chokehold while they rode on the F train in Manhattan on May 1. Neely died from a compression of the neck the medical examiner said. Neely, according to local media reports, was homeless.”
Not trying to be annoying, but trying to get you to understand my perspective. DNA earnings was “okay.” What knocks it out of the park is that they are still successful in this terrible macro environment. Says a lot. Their company is based on R&D. This is the first place that everyone cuts in a bad bear market. Fact they are still alive and well, says a lot. Their competition is dying or been bought out by Gingko. Talking OG’s of the synthetic bio manufacturing sector. Let’s go!
Ceo on this board.
“The establishment of the National Security Commission on Emerging Biotechnology is a huge step for #syntheticbiology. It marks a recognition by the US gov of the importance of biotech and will impact policy and funding for the industry. The commission provides a report to @POTUS”
Decided to hold off with buying back in with 401k…more pain is needed. It was too big of a rise to get away this easy.
“Receiving the money is not prima facie evidence of anything.”
Of course. But seeing lots and lots of businesses that benefitted from Covid who took it. Without bias, I bet a solid 1/3rd to a 1/2 went to those who did not deserve it.
Pumps,
That commission is to ensure what happened in Wuhan doesn’t happen in Boston. The fact that the lying scammer CEO is bending it into something that does not benefit him one iota and probably will cost his company money to comply with is just another example of the marketer he is. Again, this looks more like a scam than a future darling.
Lib,
Set up a short position. I dare you. An amount that makes you sweat. I have 19,100 shares at 1.90 avg. My money is where my mouth is.
And remember this is a small percentage of my net worth. I can lose this and not break a sweat. Hot sauce investments should always remain a small percentage of your net worth. They should def be there, but in discipline.
As title 42 ends, an increasingly organized crossing of the Darien Gap with some great photojournalism . . .
https://apnews.com/article/migrants-darien-colombia-panama-a4fa727116d6a9d1e82ece476a509d67