Monkey Business
I can be a bit abrasive at times. Longtime readers will attest to that.
Usually, that abrasiveness manifests in arrogance, mostly of the intellectual sort. I'm the last person to claim I know everything, but the first to claim I probably know more than you. Those two things go hand in hand, by the way. I'm steadfast in the contention that almost everyone is ignorant about most things, including myself, which is why I spend every day trying to remedy that situation as it relates to my own unders
Awesome! I’ve imagined having a cigar on the porch with you, and then realized only one of us would enjoy it. Nevertheless, I’ll settle by reading you. If I can afford a banana.
Actually, affording the banana may not be the real issue. The world’s favorite banana, called the Cavendish, is currently a threatened species with no viable commercial substitute. Scientists think the species could be lost in as few as ten years.
https://time.com/5730790/banana-panama-disease/
This happened once before, for the same reason. Just sayin’
Well if you can afford the banana farm from your Robinhood investments it seems Stan would be jealous.
A monkey could make money in this market, Stan made money in this market, Stan is a monkey?
The fallacy, or stupidity, of attributing rising markets to simian investors should be evident if you read our Dear Leader’s earlier post : ‘Perfect Storm’: McElligott On Tech Selloff, ARK ‘Feedback Loop’
Look at the magnitude of the flows McElligott references towards the end of the article. They TOTALLY DWARF all other flows, not just the intrepid Robin Hooders. The only flows of a similar magnitude are buybacks.
Perhaps Stanley should focus on those rather than the little folks buying Gamestock. Unless, of course, he was short some of those heavily shorted names ….
This is a good point @derek. I’m virutally certain the flow of corporate buybacks has consistently dwarfed any increment in the new retail monkey flows over time. Why haven’t these mechanical buybacks (often leveraged) at ever higher prices ever deemed monkey business on the part of CFO rats even though they have continued nearly unabated since before the Great Financial Crisis (and right into 2 big market drops)?
totally. how much more income would be inthe economy had that money been paid out in dividends rather than buybacks? a lot. buybacks were illegal until 1982 tax reform, it was considered stock manipulation, and it is.
Good read. The financial markets are comprised of millions of monkey’s playing an endless game poker.
True, Yuri. But a high-stakes whale at the table can force the smaller fish to fold, no?
For some reason the poker game in the railcar in “Once Upon a Time in the West” comes to mind …..
Yeah. Absolutely one of my three favorite westerns. As far as I know the only time Henry Fonda played a bad guy.
Stan has the ultimate luxury problem……he is forced to make millions different than he wants.Not sweet enough for old Stanley.
Fruedian slip….monkey investors. He should be more honest and say “any serf ” More inclusive.
Haven’t we already known for some time that monkeys outperform professional investors?
Here is another type of “monkey business “-
The more I think about the cyber attack on the Colonial pipeline, it makes me realize what a massive national security risk Bitcoin/crypto currencies are. Approximately 2,500 ransom requests were reported to the FBI in 2020- a 66% increase over 2019. In addition, some have reported that in excess of $1.6B in ransom requests, primarily in UNTRACEABLE crypto transfers were made.
Why the US and other western civilized governments do not shut this down immediately, I do not know.
If I were a cyber criminal, I would hack into a company that I know already holds Bitcoin and demand their bitcoin holdings as ransom. Tesla?