After reading the “0.1% Problems” post on ZeroHedge (which was about a snippet from a local paper about a fellow complaining that billionaires can get whatever they want, whereas ‘average millionaires’ in Palo Alto cannot), I thought I’d share a property listing with you good people in case you want to join me here in my fair city (my house, mercifully, I bought into back in 1991 when prices were merely above-average, and not insane).
May I present to you 258 Middlefield Road, Palo Alto, California, which is located within walking distance from my house and is a mere $1,800,000 (well, that’s the asking price, but it’ll probably go for more). The property features ample storage in the back…….. (more…)
Another “one trick pony” I always thought was dumb (but didn’t short………)
Wall Street Analysts, surely some of the most overpaid souls on the planet (with the exception of Palo Alto firefighters……….) once again prove their utter worthlessness by way of GT Advanced Technologies, which this fine morning is quoted down 85% due to declaring bankruptcy (which tends to have a deleterious effect on security prices). You will note that in this entire swarm of analysts, only one of them bothered to have a Sell rating (versus the ten who thought buying GTAT was a swell idea). The chart doesn’t reflect today’s price drop, since I don’t want to put up a two-foot high post.
Jack Ma is 2 out of 2 in nailing the exact top of the market. Maybe once BABA plunges again, he will repeat his past success by, once more, buying up all the stock cheaply and taking it public for a third time in about a decade.
Greetings from Palo Alto. Over three years (and thousands of posts……) ago, I wrote Color and the Mania in This Valley. The thrust of my post was:
+ Color.com had received $41 million to develop an app;
+ The app sucked out loud;
+ The company deserved to fail.
Well, fail it did (as I announced in the 4th post I did about the stupid place), and in those three+ years, the bubble has just continued to inflate. 2014 makes 2011 seem downright sensible. (more…)