Investing

[gehringer_2]

51 minutes ago, Screwball said:

it's great losing money as long as it's people you hate and it makes you feel good.

meh - I don't hate Musk, but his empire (atl least the Teslo part) is a house of cards at this point and better for it to fall gradually than crash suddenly and create a lot of havoc.

Edited October 17, 2022 by gehringer_2

[Deleterious]

 

[gehringer_2]

25 minutes ago, Deleterious said:

 

He could just bulldoze $40 billion in cash into a big pile on Market Street and set it on fire.....would achieve the same effect much faster.

Plus it would save us all the need to find a new quicky news updating service....

And also:

Quote

Oct 20 (Reuters) - Biden Administration officials are discussing whether the United States should subject some of Elon Musk's ventures to national review including the deal for Twitter Inc (TWTR.N) and SpaceX's Starlink satellite network, Bloomberg News reported on Thursday, citing people familiar with the matter.

https://www.reuters.com/markets/us/us-weighs-security-review-musks-ventures-including-twitter-deal-bloomberg-news-2022-10-21/

Edited October 21, 2022 by gehringer_2

[Screwball]

[gehringer_2]

It's pretty hard seeing the Twitter deal coming to any good conclusion at this point. Seems like the players on both sides want to break the china, which means the broken bits won't end up doing anyone any good except the floor sweepers (i.e. lawyers....)

[oblong]

Philadelphia won the WS in 1929, 1980, and 2008. 

 

[gehringer_2]

too bad there's no pipeline from West Tx to Germany.....

Quote

Bloomberg) -- Natural gas prices in the Permian Basin of West Texas are plunging toward zero as booming production overwhelms pipeline networks, creating a regional glut of the fuel.

https://finance.yahoo.com/news/texas-natural-gas-drops-toward-162250182.html

[Screwball]

FTA:

Quote

The Texas price plunge stems from maintenance scheduled for Kinder Morgan Inc.’s Gulf Coast Express and El Paso Natural Gas pipeline systems.

Natural gas on the open market is up %5.5 today.

Related;

IEA: The Current Energy Crisis Is Unprecedented

There Is Only 25 Days of Diesel Supply, the Lowest Since 2008 - Mish & Bloomberg

Cost of living protests and strikes across Europe might spell political trouble

Yea, it's all good.  Fucking idiots.

[gehringer_2]

Market don't care - up across the board today.

[gehringer_2]

Facebook (meta) absolutely hammered after hours. Down another 20% after a 5.5% drop before the bell. Is Zuckerberg going to become just one more engineer that learned that just bacause you can do it and it's neat doesn't mean anybody wants to buy it, or the leader of a great social migration into the digiverse? Wall Street's verdict today is on the first 

[Screwball]

Some of the FANGS don't look so FANGy.

[Deleterious]

 

[Screwball]

Jim Cramer cried on TV today so I hear.  How pathetic is that.  This is where we are in this shit show.

Looks like some FAANGS got some teeth pulled.

[chasfh]

13 hours ago, Screwball said:

Jim Cramer cried on TV today so I hear.  How pathetic is that.  This is where we are in this shit show.

Not the first time Cramer has done this kind of thing. Remember when Jon Stewart had him on his show and got Cramer to break down and basically apologize for his role in being a PR arm for Wall Street and leading investors into the teeth of the stock monster in 2008? Then Cramer went on some other NBC property, maybe the Today Show, the next day to talk about how unfair Stewart was and recast the segment as him putting Stewart straight. Net net: no lesson learned. And now we have this. I'm guessing Cramer will recast his apology yesterday into something self-exonerating soon enough.

 

[oblong]

If guys like Cramer were so good why wouldn't they just keep it to themselves and get rich and savor the anonymity?

 

[Deleterious]

@Screwball 

Arch Capital jumps 7% on move to replace Twitter in S&P 500

[chasfh]

48 minutes ago, Deleterious said:

@Screwball 

Arch Capital jumps 7% on move to replace Twitter in S&P 500

Next one out: META?

3. 🙈 Meta has destroyed $800 billion in wealth

Data: FactSet; Chart: Axios Visuals Current situation: Meta's 75% collapse since its September 2021 peak has destroyed more than $800 billion in stock market wealth.

[Screwball]

1 hour ago, chasfh said:

Not the first time Cramer has done this kind of thing. Remember when Jon Stewart had him on his show and got Cramer to break down and basically apologize for his role in being a PR arm for Wall Street and leading investors into the teeth of the stock monster in 2008? Then Cramer went on some other NBC property, maybe the Today Show, the next day to talk about how unfair Stewart was and recast the segment as him putting Stewart straight. Net net: no lesson learned. And now we have this. I'm guessing Cramer will recast his apology yesterday into something self-exonerating soon enough.

 

I wouldn't watch Jon Stewart if they paid me.  He is just another version of Jim Cramer pushing bullshit to gullible/naive people.  Fuck them both to hell.

[chasfh]

Okey dokey.

[Screwball]

1 hour ago, oblong said:

If guys like Cramer were so good why wouldn't they just keep it to themselves and get rich and savor the anonymity?

 

Because he can make mega bucks lying his ass on TV without the risk.  Just like so many other well paid talking heads paid to lie via the media.  YMMV.

The fact this POS is given a venue on "the best in business worldwide" is a travesty in and of itself.

You only watch business TV for two things - breaking news - and the women.  Mute is mandatory.

[Screwball]

1 hour ago, Deleterious said:

@Screwball 

Arch Capital jumps 7% on move to replace Twitter in S&P 500

I don't know jack shit about this company, but I'll bet you my house someone made a shitload of money on that news.  Yes, via insider trading.

According to a quick Wiki;

Quote

Arch Capital Group Ltd. is an American Bermuda-based public limited liability company which writes insurance, reinsurance and mortgage insurance on a worldwide basis, with a focus on specialty lines, the segment of the insurance industry where the more difficult and unusual risks are written.

Bold and underline mine.  I wonder if they will get bailed out like the swine banks?  This looks to me, at first blush, a very risky business.  And based party in Bermuda??

Not surprising I guess.

[Screwball]

And I hope FB/Meta is next -fuck them too.  Or maybe Musk can by it and blow up more brains.  I thought FB was one of the most hyped IPOs ever, but people make a killing over the next X years.  Hope some were smart enough to pull the rip cord when they should have (purple crayon rule - h/t Jeff Macke).

[Screwball]

1 hour ago, oblong said:

If guys like Cramer were so good why wouldn't they just keep it to themselves and get rich and savor the anonymity?

 

I forgot.  He doesn't fool many, and I'm honestly not sure why anyone would listen to the dipshit.  If you have Twitter;

 

[oblong]

I think people like having that on in the background because it makes others thing they are smart.

I've said before I also think it's all bullshit. I listen to people when I'm at a party or gathering and all they do is hold their wine glass and regurgitate what they heard or read that morning.  No real insight.  By the time any regular person notices something the move has already been made and you are too late.  It's just a form of gambling for people.  I lurk in here because people smarter than me give feedback and it is interesting to see.

 

[Screwball]

Guys like Jim Cramer (and there more than him) really piss me off.  I hate to admit this, but I actually read one (I think two) of his books.  He is no dummy by any way shape or form.  His story is interesting as well.  Budding Wall Street guy who slept in his car at one time, made the big time, etc.

Then ends up becoming the poster boy for Wall Street's predatory nature to retail traders. When I say retail, that includes the "day traders", "swing traders", and normal Joe Sixpacks who run their own money (sometimes in the millions of dollars).  But he is only part of the swindle.

The networks like CNBC, Fox Business, etc. are nothing but venues to parade "experts" across the screen by the hour on a daily basis, with most/many doing nothing but talking their own book - IOW, they are trying to get you to buy, because they already did and want YOU to help drive the price up - or, they need a chump to dump their stock on.

This is the game being played.  But you better know that going in.  Many don't. You are better off if you listen to the people that are actual traders, or money mangers, where you might get some good insight, but the same rules still apply.

Cramer is nothing but a shill for the insiders. Just like all news people, stocks or generic news, they must kiss the ass of the people they want to interview in order to get the interview.  Many times, they parrot exactly what their expert wants them to parrot.

For example, Becky Quick of CNBC, is a favorite of Warren Buffet.  He will only give her interviews.  She has worked there for a long time but it is obvious she doesn't know enough to be a successful trader.  But she can do a good job of making Uncle Warren look like a prophet, which he kind of is, but do you listen and do everything he tells you in her interview?  No.

Like I said, they are good for breaking news and the pretty ladies, but that's about it.

For those who trade for fun, or manage their own retirement; do your own due diligence (research), study, learn charts, study some more, and hope you don't get your ass handed to you.  This shit is not simple, easy, or something that you do part time.  And many times NOT profitable (ask all those Robinhood idiots with few exceptions).

Remember two important things:

1) If you want a friend on Wall Street - buy a dog.

2) Wall Streets main objective is very simple - separating people and their money.

As the Outlaw Josie Wales would say; "that's just the way it is."