I cannot let the death of Kirstie Alley go without a mention for a few reasons (a) as a kid, I had an instant crush on her – – I mean, those eyes! (b) I’ve heard her interviewed, and she was a totally cool person (c) as traders, Kobayashi Maru is a situation we all need to understand. Rest in peace, Lt. Saavik.
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
From Meme to Has-Bean
In one of the most bizarre moments of an incredibly bizarre few years, the last gasp of the Covid Cash insanity was experienced with Bed Bath and Beyond (BBBY). Just over three months ago, based on nothing more than the wsb boys saying that they were going to squeeze BBBY to the moon, the stock spiked to $30 on volume of hundreds of millions of shares. As you can see, that was the peak of the counter-trend rally for the market overall (appropriately enough) and the stock is now down 90% (!!!!!!!!!) and trades just about 1% of the volume it did back during the mania.
The Stadium Curse Lives
When will people ever learn? When a company – – especially a new up & coming company – – shells out hundreds of millions of dollars to slap their name on a stadium, that company is doomed. Every. Single. Time. EVERY TIME, PEOPLE! Anyway, it happened yet again. Jesus Christ. People never learn.
Don’t Show This to Elon
As everyone in the Solar System knows, the richest man in the world, Elon Musk, bought Twitter earlier this year, and none of us know how he feels about it, but I suspect he would happily Ctrl-Z the entire event if he could. It occurred to me while walking my dogs in the pouring rain this morning, what would Twitter probably be worth now if he had never sought to purchase it? Let’s go through a simple exercise.
My first goal was to find another stock which is still actively traded that, prior to the buyout, was highly correlated with Twitter. I thought it would be something like META, but in fact Spotify (SPOT) turned out to be a much better fit. Here is the percentage performance of SPOT and TWTR up to when Musk announced the buyout.
(more…)The Power Transcends Finance
Since the line got breached, let’s change the subject. This is truly amazing stuff:
