How hard can it be to make a huge monopoly succeed? Not as easy as it looks, I guess. Here’s the woman who was paid $8 million per year to do just that: run a business selling electricity and gas to a captive audience in the most populated place in the country:(more…)
Slope of Hope Blog Posts
This is the heart and soul of the web site. Here we have literally tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. You can also click on any category icon to see posts tagged with that particular category.
OK, OK, the subject title is dreadful, but it just came to me. The devil made me do it. Anyway, I suspect “Amazon World’s First Trillion Dollar Company” makes for a LOT better of a headline than “Bezos Dumps Family for Mistress“, but times have changed. The chart tells you all you need:
My contempt for bulls, particularly their dependence upon the welfare state and their creosote-filled craniums, is well-telegraphed. I truly didn’t realize they were this mentally-challenged, however. Just since Boxing Day, they have bid prices up to shortable levels again. I can also say: thank you, you reckless turd-throwers. I truly depreciate it.
Some of you may have heard of the subreddit known as WallStreetBets (WSB), which is basically a forum on reddit where a bunch of inexperienced twenty-somethings gamble away their meager savings by “trading” on the Robinhood platform and sharing their collapsing equity graphs, which they refer to as “loss porn.” It’s kind of a psychotic place for beginning degenerate gamblers to commiserate.
I find the site kind of amusing, and in the spirit of contribution, I offered up the same chart on their site as I did here on Slope (this is from the start of December). I titled the chart “You Are Here”:(more…)
And to think I was worried.
Honestly, I fully expected to wake up to see the ES up 70 points. I tweeted my hand-wringing.(more…)
Patrick Byrne, the CEO of Overstock, has had a bug up his ass against short sellers for years and years. As I’ve written before, I think the weakness of his company has a lot more to do with its dreadful customer service than the mean old bears. In any case, these guys tried to save themselves earlier this year by hitching themselves to the crypto-craze. I’ll let the chart speak for itself about how well that went.
No, not for me. I’m doing just fine. I’m talking about THIS guy (click the image to see it larger…………duh.):
For those unacquainted with WSB parlance, an “FD” is a “Faggot’s Delite.” (Hey, it isn’t my term; I’m just telling you the truth). This is the puerile way they describe very high-risk weekly options.
It seems to me the guy basically raised a million bucks from friends and family and decided to go “all in” on Micron technology calls. Incredibly, he has embraced the “it’s not a loss unless you sell” insanity.
I’ll just save you all the suspense and tell you this guy is utterly screwed.
I have been nothing but pessimistic about Blue Apron, such as with this post from early this year (which I considered good enough to include in my Silicon Valley Babble On book). Let’s just say my snarky feelings about this organization seem to have been well-founded. New lifetime low, and now a penny stock:
At the end of each year, the extremely-well-paid analysts of the world’s leading investment banks issue their projections for the S&P 500. You can be sure of two things:
- The projections will all be bullish;
- None of them will come true
In spite of this, the banks continue to pay them huge salaries, mainly to keep the gullible investing public fully involved in the “markets” so they can keep skimming those sweet, sweet fees. It’s worth paying some dude a million bucks to lie for you if you can make a billion in return.(more…)