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…)
Goldman Sachs, as is widely known, is the most venal and amoral organization in corporate America. They will stop at absolutely nothing to line their already very packed pockets, although doctors across the land were able to save some cash on vomit-inducing drugs by instead showing them the cheesy Goldman Sachs ads from 2010 touting how they were doing God’s Work for the nation.
Of course, in this politically-correct culture of ours, people are too nervous to dare criticize Goldman, lest they be accused of being you-know-what. NPR, to their credit, has put together a sensational hour of secret recordings (drawn from nearly 48 hours of raw audio) that were made illustrating, in no uncertain terms, how utterly captured the U.S. “regulators” at the Fed are who work at (or, more accurately, for) Goldman Sachs. It is well worth your time to listen to this piece. It will make you mad, and although the nation’s anger isn’t enough to remove this black-hearted cancer of a company from the planet, it’s at least worthwhile to be better-informed. Click here to listen to This American Life’s expose…………
My feelings about celebrity culture are identical to those of the late George Carlin, esteemed patron saint of the Slope of Hope: he couldn’t stand it. As I was thumbing through the Palo Alto Daily Post this morning, there was a headline – “Kardashian mom files for divorce.”
The “mom” is that cow-like woman Kris Jenner who, after her own failed marriage to a sleazy lawyer that managed to get OJ to walk after a double-murder rap, married a man who, in the 1970s, was a big hero (Bruce Jenner) who had a failed marriage of his own. Now these two misfits have a 2nd wrecked marriage to add to each of their scorecards.
What made me heave is when I read the names of the various and sundry spawn from their marriages: Kourtney, Kim, Khloé, Kendall, and Kylie. When George ranted about his dislike of “couples whose children’s names all start with the same initial”, I didn’t quite know what he meant…until now. The entire topic is a big load of Krap.
One of those “one that got away” stories for me is Herbalife, which I wanted to short when the insane Ackman/Icahn battle was raging away. I felt the urge to be short HLF only because I consider Carl Icahn to be repulsive, with the moral rectitude of Bill Clinton and the boyish good looks of Jack Ma. It was also icing on the cake that I considered the company itself exploitative and scummy. All the same, I couldn’t find a single share to short, and I’ve watched merely as an interested bystander as it has lost over half its value over the past nine months. Nice goin’, Master of the Universe.
I was originally going to title this post “Jackie DeAngelis Must Die”, but I thought she might take it the wrong way.
Anyway, earlier this week, Ms. DeAngelis “interviewed” famed short-seller Bill Fleckenstein on (gack, choke) CNBC, every permabull’s favorite network. Right out of the gate, she attacked him:
You can watch the interview at the bottom of this page if you want, but I can save you the time by simply stating Mr. Fleckenstein was ambushed by a trio of CNBC permabulls, deriding him for missing out on the past five years of market rally. (more…)