btw the MOST disappointed of all when all the contracts are ignored and all the rest of us get completely hosed will likely be my heirs. I've pretty much given up trying to pass anything much on. Now I am focused on just spending down what we have to our personal expiration date...it's a tricky titration...hope i get it right. If not, it's going to be the bonnie and clyde route for the last mile
i know reading you takes time and FOCUS but i don't believe you are losing subs to "takes too much time." i think it's because reading you is monotously depressing and joy-destroying especially when something I've done in the market cause I got tired of being left out and got momentarily greedy is called out as incredibly short-sighted, stupid and self-destructive to my long term well being. so don't be surprised if someday, I am GONE. hahahahahahaha never happen Rudy been reading you since before twitter was x and before it was even peep-peep-peep. keep it up, I am hoping out of all of it, I will have something left out the rubble ahead
Thanks. See, I am quite cheerful and these items to me are largely just amusing cautionary tales, or words to the wise, not something to get depressed over. I will try to post more humorous or positive items but frankly we have CNBC for the uber-bullish stuff. I’m very long stocks and always have been, but I know why we are at where we’re at. Cheer up and Godspeed.
On inflation….I was listening to CNBC a little while ago, and the spokesmodel asked Liesman (sp?) if he knew what the average cost of a bag of chips was…..he said that he had just paid a couple of bucks for one last week….she said ha! The average was + 6 dollars.
He did go on to say that he really didn’t pay attention to what kind of chips he had when he was “out on the water”.
I wonder if he notices what they charge for fuel at the marina……
I think it was during the Obama years when GM was rolling over, and they hosed the bond holders….I thought, “they can’t do that, those are contracts, that will never fly”…..guess what, it flew.
There have always been multiple sets of rules, I’m just sorry that it took me until the second half of my life to figure it out.
Oh yea, I almost forgot about that. I was one of the bond holders who took a 33% haircut. Years later Obama would state that GM paid back ALL of their loans.
Always a great read! The CLO “has an L in it” line cracks me up. It will be interesting to see where all the PE masters of the universe go when the financial alchemy no longer works. The investor losses within the private real estate funds are staggering and increasing. As always, “ buyer beware”.
As a paid subscriber to you, Rudy (unlike those who cancelled their paid subscription), I understand that I must make the time to read what you curate. The Price (and Value) of Time. Excellent!
btw the MOST disappointed of all when all the contracts are ignored and all the rest of us get completely hosed will likely be my heirs. I've pretty much given up trying to pass anything much on. Now I am focused on just spending down what we have to our personal expiration date...it's a tricky titration...hope i get it right. If not, it's going to be the bonnie and clyde route for the last mile
i know reading you takes time and FOCUS but i don't believe you are losing subs to "takes too much time." i think it's because reading you is monotously depressing and joy-destroying especially when something I've done in the market cause I got tired of being left out and got momentarily greedy is called out as incredibly short-sighted, stupid and self-destructive to my long term well being. so don't be surprised if someday, I am GONE. hahahahahahaha never happen Rudy been reading you since before twitter was x and before it was even peep-peep-peep. keep it up, I am hoping out of all of it, I will have something left out the rubble ahead
Thanks. See, I am quite cheerful and these items to me are largely just amusing cautionary tales, or words to the wise, not something to get depressed over. I will try to post more humorous or positive items but frankly we have CNBC for the uber-bullish stuff. I’m very long stocks and always have been, but I know why we are at where we’re at. Cheer up and Godspeed.
So great Yr Substack a thumping good soundtrack so listen to. BB King! Here’s a shout out for and Nina Simone Backlash Blues too! https://youtu.be/-uEhMXOlQu0?si=MYgPKOuFH4P1fXRT
Posted 11 years ago :) https://x.com/RudyHavenstein/status/352131582762553344
https://x.com/RudyHavenstein/status/324966491504144384
The Mackay quote: 👌
The Japanese have a word for a pile of unread books you have yet to read. Tsondaku. Convenient.
On inflation….I was listening to CNBC a little while ago, and the spokesmodel asked Liesman (sp?) if he knew what the average cost of a bag of chips was…..he said that he had just paid a couple of bucks for one last week….she said ha! The average was + 6 dollars.
He did go on to say that he really didn’t pay attention to what kind of chips he had when he was “out on the water”.
I wonder if he notices what they charge for fuel at the marina……
Liesman is a Fed propagandist, nothing more.
I think it was during the Obama years when GM was rolling over, and they hosed the bond holders….I thought, “they can’t do that, those are contracts, that will never fly”…..guess what, it flew.
There have always been multiple sets of rules, I’m just sorry that it took me until the second half of my life to figure it out.
Oh yea, I almost forgot about that. I was one of the bond holders who took a 33% haircut. Years later Obama would state that GM paid back ALL of their loans.
Except to me. I'm still waiting.
Like in my Gundlach clip, they broke the rule of law. The Govt, the Fed. Laws mean nothing to them, laws are for the little people.
I think the law actually means that you can’t do it to them!
Always a great read! The CLO “has an L in it” line cracks me up. It will be interesting to see where all the PE masters of the universe go when the financial alchemy no longer works. The investor losses within the private real estate funds are staggering and increasing. As always, “ buyer beware”.
You’ll enjoy Matt Taibbi’s latest.
I'll always make the time to read your excellent posts!
Thank you
As a paid subscriber to you, Rudy (unlike those who cancelled their paid subscription), I understand that I must make the time to read what you curate. The Price (and Value) of Time. Excellent!
yup
Thank you. It’s an eclectic buffett.
Bingo!