Thursday 30 June 2022
The trend of the US prosecuting foreigners continues:
....Who Is the Mystery Crypto Queen on the Run After an Alleged Scam? - The Street: "While co-founder Sebastian Greenwood was arrested in Thailand, extradited to the U.S. and eventually imprisoned, another person alleged to have played a pivotal role in OneCoin's rise and fall is Bulgarian national Dr. Ruja Ignatova".
....FBI joins probe into South African crypto firm MTI - TechCentral.
....Julian Assange can be extradited, says UK home secretary - BBC. A citizen of Ecuador/Australia.
....Ghislaine Maxwell offers to renounce foreign citizenship in exchange for bail - The Guardian.
BofA sees 50% downside for Bed Bath & Beyond as liquidity concerns loom large - Seeking Alpha. The share price has already fallen from a peak of $35.33 on 29 Jan 2021 to $4.97. Only now do they see downside.
Team discovers signaling molecule that potently stimulates hair growth - Phys.org.
EU consumer groups file complaint against Google over 'deceptive' sign-up practices - Engadget.
Churches Across US Build Tiny Home Villages Amid Worsening Affordability Crisis - Zero Hedge.
Samsung says it is manufacturing 3nm chips in global first - Nikkei Asia.
From 27 June: Turns abandoned cargo boat into modern home gem (before/after) - Youtube.
"Creativity!" - Twitter.
FRED only has the EU gas price up to Nov 2021. Apparently too inflationary to show.
Russia's exports (red) exceeded imports (blue) for a few decades, which means a big capital outflow.
Wednesday 29 June 2022
VW: EV battery output bigger challenge than EU combustion engine ban - Reuters. How will the electricity be generated to charge the electric vehicles? On the plus side, it would move the other car pollutants from the street to power plants.
FCC commissioner urges TikTok be removed from Apple, Google stores over 'unacceptable national security risk' - Fox Business.
From 18 June: See Thru Jet Engine - Youtube.
Top UK supermarket stops selling Heinz baked beans in dispute over rising prices - CNN. Expensive products disappear off shelves all the time because clients stop buying it.
Fossils: Cave woman one million years older than thought - BBC.
FTC sues Walmart for facilitating fraud that 'fleeced customers' out of millions - Seeking Alpha.
"The reason recession talk is shunned…in pictures. If you prefer words - we’re in the midst of a series of bear market rallies & don’t buy the “earnings are not too high” BS." - Twitter.
Tuesday 28 June 2022
Getting Ahead of U.S. Inflation: A Lesson from 1974 and 1983 - St Louis Fed.
Former Toys ‘R’ Us Executives Face Trial Over Botched Bankruptcy - Bloomberg. "Former Toys “R” executives Us are set to stand trial over allegations they misled suppliers about the retailer’s dire financial condition while the company tried to stay afloat in bankruptcy and then stiffed them on more than $600 million of bills."
Australia coal sector braces as Albanese tackles carbon demons - Nikkei Asia. "Electricity prices surged in recent weeks after several of Australia's aging coal plants suffered outages". No, the green solar and wind power was probably insufficient due to cold overcast weather, causing overloading of the coal power stations. Those solar panels are heating the earth up nicely.
Energy.gov.au: "Renewables contributed 24% of total electricity generation in 2020, specifically solar (9%), wind (9%) and hydro (6%). The share of renewable energy generation increased from 21% in 2019." Solar and wind is only available 25% of the time, so the capacity must be duplicated in gas or coal power, and their turbines must be spinning all the time because the sun and wind can disappear at any moment. Sometimes the electricity network uses expensive battery storage to give the turbines time to start up.
"The average price of a new home in the US is now over 10x higher than per capita disposable income, the highest ratio in history." - Twitter.
"California prepares to send out $2100 "inflation relief" checks to offset the inflation caused by the $1050 "inflation relief" checks" - Twitter.
Ernst & Young Fined $100 Million in Ethics Exam-Cheating Probe - WSJ.
Saudi Arabia and the UAE can produce more oil, but they are sticking to the maximum agreed to under OPEC. In other words, they don't care that the Western world doesn't want to buy Russian oil.
CAPSTONE Launch to the Moon (Official NASA Broadcast) - Youtube.
From 4 Oct 2018: How to Pay ZERO TAXES When Selling Real Estate (Yes, It's Legal!) - Youtube.
According to the official statistics, the affordability of renting a primary residence in the US, relative to average hourly wage has not changed much since 1986:
Monday 27 June 2022
How Saudi Arabia's New Professional Golf Series Is Shaking Up The Sport - HuffPost.
FACT SHEET: The United States and G7 to Take Further Action to Support Ukraine and Hold the Russian Federation Accountable - The White House. ".... adding several companies around the world to the Entity List, which will prohibit those companies from purchasing U.S.-made origin goods and technologies, such as semiconductors."
U.S. Places Restrictions on China’s Leading Chip Maker - Unseenzen
Decades ago the US also prohibited semiconductor sales to the tiny country South Africa. Eventually the US will not sell its expensive products to anyone.
Time is ripe to snap up bargains, says debt investor Howard Marks - FT. Stocks are still expensive.
Tesla Megapacks are about to replace Hawaii’s last remaining coal plant - Electrek. Hawaii has an annual consumption of 9340GWh (US Dept of Energy). The 565MWh battery is enough to store 32 minutes of electricity. The battery gives time to start up the turbines when clouds block the sun, or the wind stops blowing. Most of their electricity comes from petroleum. They only use 36% of the petroleum capacity. The heat released by a coal power plant is 1.7x the electricity supplied. For solar power it is more than 5x, probably closer to 10x. It is far worse for global warming.
G7 Unveils $600 Billion Global Infrastructure Plan To Counter China's 'Belt And Road' - Zero Hedge. The politicians in these emerging economies can't wait to hand out this free money to their supporters, after taking their cut.
From 24 June: France extends energy price cap measure to the end of 2022 - The Connexion. The government will have to make up for the shortfall by either raising taxes or printing money, both of which creates inflation. People will pay more for electricity one way or another.
Sunday 26 June 2022
What RUINED Hanna-Barbera? - Youtube.
Saturday 25 June 2022
"When will the Fed learn that inflation is always a monetary phenomenon? A central bank that doesn’t know what cause inflation is incompetent and dangerous." - Twitter.
Sandra Bullock, Justin Bieber and Other Stars Who Lost Money on Real Estate in a Booming Market - Hollywood Reporter. With these expensive homes the location makes up a significant part of the price, which is highly variable.
NASA ready to fly to the moon! - Earthsky.
EU Renews Digital COVID Pass Despite 99% Negative Public Feedback - Zero Hedge.
From 14 Feb 2022: Here's How to Make Your Personal Assets Invisible (Remove Your Name from Assets!) - Youtube. This is becoming more relevant with governments' spending only increasing, and they have borrowed as much as they can. The only thing standing between you and a wealth tax, is that wealthy politicians don't want to pay the tax themselves. Putting assets into an LLC (Limited Liability Company) is not necessary the best for tax purposes.
"The CCP’s zero-COVID policy has not stopped. Residents are forced to stand in long queues to take their mandatory mass covid test. It’s the Communist Way. Take a look:" - Twitter.
"Truck drivers in Argentina are blocking highways to protest rising fuel prices. I measure Argentina’s inflation at 47%/yr. As long as Argentina retains its junk currency, the peso, Argentina will hopelessly remain in the tank." - Twitter. Another government printing money to pay for support. The exchange rate was 0.00001 in 1984.
Friday 24 June 2022
"Since Draghi's "whatever it takes" the ECB has tripled its balance sheet--almost 70% of GDP. " - .
From Factset 17 June:
"For Q2 2022, the estimated earnings growth rate for the S&P 500 is 4.3%."
"The Energy sector is also expected to be the largest contributor to earnings growth for the S&P 500 for the second quarter. If this sector were excluded, the index would be expected to report a decline in earnings of 3.2% rather than growth in earnings of 4.3%."
"The Financials sector is also expected to be the largest detractor to earnings growth for the S&P 500 for the second quarter.
If this sector were excluded, the estimated earnings growth rate for the index would improve to 10.4% from 4.3%."
"As of today, the S&P 500 is expected to report (year-over-year) revenue growth of 10.1%".
A 10.1% growth in revenue with a 4.3% growth in profits typically suggests high inflation on lower volume. Inflation could be higher than 10%. If it were just volume growth, the profit growth would be bigger than the revenue growth.
From 12 June: Friends build real castle from scratch with simple tools only - Youtube.
Thursday 23 June 2022
"Since their all-time highs, Peloton is down 91%, Carvana 90%, Virgin Galactic 89%, Vimeo 85%, Rivian 84%, Beyond Meat 84%, Zoom 83%, Zillow 80%, Roku 80%, Palantir -77%, Pinterest 76%, Netflix 72%, Spotify 71%, Lyft 70%, DoorDash 70%, Uber 61%, Snowflake 61%, Facebook 47%." - Twitter.
Fed's rate hikes won't lower gas or food prices, Senator Warren grills Powell - Youtube. Rate hikes do slow down inflation by lowering the demand for credit, and money created to supply the excess demand. Inflation won't stop because governments always print more every year regardless of what happens.
India’s BRICS Balancing Act - Foreign Policy. "He added that the BRICS group could soon go a step further by challenging the U.S. dollar, creating its own international reserve currency based on the “basket of currencies of our countries” ". Currency decline against the US dollar per year for the last 10 years: China 0.6% (M2 money supply growth 10.9%), Russia 9.2% (M2 money supply growth 10.6%), Brazil 9.9% (M3 money supply growth 10.2%). China appears to have high economic growth, which keeps inflation down, or the US has high inflation.
Wednesday 22 June 2022
Why Kellogg is turning its back on Frosted Flakes and Froot Loops - CNN. One CEO wants to diversify a business, and the next one sells off non-core assets.
People are getting excited about the oil price falling. With Russia selling to China and India, the shortage of oil supplies might be solved. There is just a rebalancing of who sells oil to whom. The Western world has had sanctions against so many countries that they end up cutting themselves off from the rest of the world.
Tuesday 21 June 2022
"Hundreds of people gather in Cali to celebrate Colombia’s new President Petro. Do they know Petro’s leftist agenda will send Columbia down the same rat hole that Venezuela went down?" - Twitter. The supporters are probably hoping to get financial benefits from the government.
How can US banks afford low fixed mortgage rates when interest rates rise? Some-one must pay the difference. Federal takeover of Fannie Mae and Freddie Mac - Wikipedia: "In September 2008 the Federal Housing Finance Agency (FHFA) announced that it would take over the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Both government-sponsored enterprises, which finance home mortgages in the United States by issuing bonds, had become illiquid as the market for those bonds collapsed in the subprime mortgage crisis." Fannie Mae held $3,989B mortgages in Q1 (FRED). Freddie Mac held $2,883B mortgages in Q1 (FRED). Together it is $6,872B out of $18,349B total mortgages (FRED).
Monday 20 June 2022
"@EVSafeCharge's mobile robot, ZiGGY, can reserve your parking spot and charge your #EV too." - Twitter.
Russia Overtakes Saudi Arabia As China’s Top Oil Supplier - Oil Price.
Hong Kong crypto platforms freeze accounts as turmoil deepens - Nikkei Asia.
Sunday 19 June 2022
The Fed Hasn’t Fixed Its Worst Blunder Since the 1970s - Bloomberg. The FOMC (Federal Open Market Committee) is just giving the government time to adjust the inflation rate.
mRNA treatment repairs mouse hearts to "near normal" after heart attack - New Atlas.
There are a lot of comments on the Bitcoin fall. It falls because investors who made money on the way up, are willing to sell as long as they make a profit. An investment requires a product that serves a function. Crypto currency is more like a Poker game in which players pile money into the pot. The money disappears when some-one wins a hand.
Saturday 18 June 2022
Europe heatwave: France braces for record-breaking temperatures as Spain battles forest fires - The Guardian. Coldest start to winter in decades for eastern Australia with power grid under strain - The Guardian. Cold and wet weather predicted for large parts of SA early next week - Times Live. On average, the earth is at a comfortable temperature. The fires are required to seed the clouds, as part of earth's temperature regulator.
The Fed Has Lost Control of the Economy, Something Will Break - Youtube. MMT (Modern Monetary Theory) is the idea that government can print as much money as they like, when they falsify the inflation they cause.
Expert reveals how environmental regulations have shut down refineries - Youtube.
From 23 March: Why The World Relies On ASML For Machines That Print Chips - Youtube.
Building costs tend to only rise over time. If you buy a house below the cost of construction, it should retain its value better. According to this chart since 1963 the average US house price (red) increased a lot more than the wholesale cost of building materials (blue), and the cost of labour (green). The spread between price and cost doesn't make sense. The inflation statistics are likely an underestimate. With the lower interest rates, people could afford slightly bigger homes with more luxury fittings like marble counter tops.
Friday 17 June 2022
Instead of the decline in the price to earnings, the metric S&P 500 investors should look at is the price to sales, which is still at 2.35: Multpl. The performance of the stock market is also based on a massive increase in debt. With higher interest rates, sales should decline, and profits shrink.
For example, with Nvidia Corporation (NVDA) you pay $157.82 for sales of $13.07.
Gold Digger: The world’s top gold exec says bullion is enjoying ‘a new floor’ amidst inflation - Stockhead.
Australia invokes emergency powers to block coal exports in energy crisis - FT. Idiots.
The US SPR (Strategic Petroleum Reserves) on 10 June was still at high levels: EIA. The 419 million barrels of crude oil is enough for 21 days at an average use of 20 million barrels of petroleum per day.
Rivian Automotive plans to use wind turbines to give vehicles their first charge - Seeking Alpha. We are just waiting for the wind to pick up before we can deliver your car. They make an electric truck for $67,500 (Rivian R1T), compared to $30,870 for a Ford truck (Ford). The $36,630 difference would pay for 7326 gallons of fuel. At 19mpg, it would pay for 139,000 miles or 223,000 km. That is if the electric truck is charged with free sunlight. At least you don't have to service an electric vehicle as often.
Thursday 16 June 2022
When Crypto’s Own Hedge Fund Geniuses Failed - Advisor Perspective.
‘General Hospital’ Crewmembers Sue ABC Over Vaccine Refusal- The Hollywood Reporter.
"Nobel Prize winning economist @paulkrugman assured the world that ZIRP and QE wouldn't cause #inflation. Now every nation with a central bank dumb enough to have followed his bad advice is suffering soaring inflation. When will the Nobel committee ask Krugman to return his prize?" - Twitter.
"Average Americians won't get any relief from #inflation until they get relief from government. Until we get serious spending cuts, Americans will be on the hook for the cost of big government. If they don't pay with official taxes, they'll pay unofficially with the inflation tax!" - Twitter.
BHP puts the ball in Perrottet’s court over coal closures - Financial Review.
UK Flight Taking Illegal Immigrants To Rwanda Halted By European Court Of Human Rights - Zero Hedge. The country that orchestrated the anti-apartheid campaign against South Africa doesn't like black immigrants.
UK money creation (red) compared to Switzerland (blue):
Wednesday 15 June 2022
Internet Explorer shutdown to cause Japan headaches 'for months' - Nikkei Asia. Old software support is discontinued to force customers to buy new software.
New EV Battery Reaches 98 Percent Capacity in Less Than Ten Minutes - ExtremeTech.
"The ECB had an emergency meeting today and announced a new tool to address southern European debt problems." - Twitter.
The way some Eurozone countries have been living it up on cheap credit is amusing: Statista. It just goes to show how useless politicians are.
In Q4 of 2021, Euro area government debt was €11,720B or 95.6% of GDP (Eurostat). In Q3 of 2021, household debt was 61.1% of GDP, and non-financial corporations' consolidated debt was 79.8% of GDP (ECB).
The average US house price (blue) has provided much lower returns that an investment in the stock market. The house price represents one unit and not the total value of all housing. To compare the stock market returns with the average house price, it should be divided amongst a larger population (red). The average house price (blue) has outpaced the economic output per person (green). This might be due to lower interest rates, or because not everybody owns a house?
FRED has a chart for everything except the gold price. The home ownership rate in the US:
The demand for Ships and Boats doesn't appear to depend much on economic cycles:
Tuesday 14 June 2022
"Germany May wholesale prices rise 22.9% on year" - Twitter.
What effect did rising interest rates (red) have on the US stock market (blue) in the past? The rate increase from 2016 to 2019 did not stop the stock market shoosting (Eva Gabor on Green Acres) higher.
During 1994 the stock market went sideways as interest rates increased. The stock market rose after the rate increases ended.
In 1988 interest rates (red) rose shortly after a -34% fall in the stock market (blue).
Monday 13 June 2022
Tech Monopolies: Last Week Tonight with John Oliver (HBO) - Youtube.
Bitcoin at $25,245 has fallen over the edge of a waterfall – difficult to go back up.
From 26 Feb 2016: How to send an 'E mail' - Database - 1984.
According to the US government budget for fiscal year ending 30 Sep 2022 (not clear from the document) total expenses would be $5707B, and total receipts $3988B, leaving a deficit of $1719M, down from $3670B in 2021. In Q1 of calender 2022 the annualized expenditures were $5793B (blue), and total receipts $4776B (red), which is a deficit of $1017B.
Sunday 12 June 2022
Tasty name but no Big Mac: Russia opens rebranded McDonald's restaurants - Reuters.
European Auto Industry Decries EU Ban On Petrol Cars - Zero Hedge.
From 5 June: World's longest tunnel - How much for groceries?! | VAN LIFE NORWAY - Youtube.
"India, China and Russia look more capitalist than their western peers. Government spending as a share of GDP" - Twitter.
France shows how government spending only increases, over 40 years: Trading Economics.
The transitory nature of inflation is still discussed on the interweb. It is now two years since the money supply (blue) shot up in 2020-21. Since money supply growth has fallen back to +7.0% growth in May, the inflation rate should peak, and then decline. That is, prices continue to increase, but at a lower rate. On this chart, prices only declined in 2009. The official inflation rate means nothing.
Since US corporate profits appear to follow total US debt, what is happening to total US debt (blue)? Up to Q4 of 2021 it was still trending upwards. The market cap of the stock market (red) looks small compared to the massive debt. Interest rates will need to rise until debt stops growing.
Saturday 11 June 2022
"In Japan, damages from heavy rainfall and larger typhoons are become increasingly evident. As the climate crisis deepens, the country is scrambling to beef up its defense mechanism." - Twitter.
RV Sales Decline 31% -- Is It A Good Time To Get A Big Discount On Your Next RV? - Youtube. New RVs are still being shipped:
According to the RV Industry Association, manufacturers shipped 11.5% more RVs in April: Latest Shipment Report Shows More RVs Headed To Dealer Lots Ahead Of Summer Travel Season - RVIA.
From 10 June: 1 Worrying Metric for This RV Maker - The Globe and Mail. "Thor announced a 35% sales increase, marking just a modest slowdown compared to the prior quarter's 42% spike."
From 8 June: Thor Industries Tops Q3 EPS by $1.60 - Investing. "...we expect calendar year 2022 North American RV industry retail sales of between 460,000 and 480,000 units, which would represent one of the best years of North American RV retail sales on record ..." There were 600,000 RV shipments in 2021: Historical RV Shipments - RVIA. Inconsistent information.
Friday 10 June 2022
"Fed members insist they'll bring #inflation back down to 2%. In reality, most FOMC members will not live long enough to see a year when the #CPI only rises by 2%. Those days are long gone. We are reaping the whirlwind of the inflationary winds the #Fed sowed when it launched QE1." - Twitter.
"Shelter is the single biggest component of CPI (33% of the Index) and is still being wildly understated (@ +5.5% YoY) with rents up 15.4% over the last year and home prices up a record 20.6%. The true inflation rate is much higher than 8.6%." - Twitter.
Thursday 9 June 2022
"The IMF has reached a deal with #Argentina. It will allow the govt access to about $4.03 billion in funds. But, more bailout bucks will do nothing to fix the peso, which has lost 63% of its value against the dollar since Jan. 2020. Arg. needs official dollarization NOW." - Twitter. They can pay their foreign debt. The government chooses population support over foreign creditors.
Russia's War In Ukraine Highlights 'New World Order,' Ex-NATO Chief Says - The PN. What else would an ex-NATO official say? The attack on the Ukraine is the last hurrah of a Russian nutjob.
PGA Tour says Saudi-paid players no longer eligible for tour - ABC. What if were Tiger Woods, or Lion Savannah?
Almost all of Portugal in severe drought after hot, dry May - ABC. "Climate scientists say Portugal can expect higher temperatures and lower rainfall as a consequence of global warming". Warm air absorbs more moisture, and should deliver more rain, if there is smoke to seed the clouds.
Wednesday 8 June 2022
An electric car finally makes financial sense - CNN.
The Past, Present and Future of the West’s Water Woes - Modern Farmer. "The federal government has also issued gigantic subsidies to farmers in the Central Valley, in the form of incredibly cheap water and in crop subsidies. This has enabled the Central Valley to grow confusing crops for a desert environment, including almonds, citrus, avocados, pistachios and stone fruits, all of which need a lot of water."
Cow and sheep burps to be taxed by New Zealand in world first - MSN.
UPDATE 2-Australia accuses Airbnb of misleading customers on price - Yahoo Finance.
Australian PM Says Interest Rate Rise Is a ‘Blow for Families’ - Bloomberg. "Albanese said he’d consider fresh policies to combat inflation". Household debt is at 119.30% of GDP - Trading Economics.
Australia government debt to GDP was 58% in 2020:
Tuesday 7 June 2022
"The McDonalds in Marana AZ got rid of human cashiers — your only option is the self-serve kiosk." - Twitter.
Trafigura warns oil prices could reach ‘parabolic state’ in threat to global growth - NY Post. The world has been through the oil crises before. Governments have failed to wean countries off their dependence on the big oil producers.
The stock market could soon see a massive change to how it functions - CNN.
Angelina Jolie Believes Brad Pitt's Claims About Their Winery Are 'False,' the 'Truth' Will Come: Source - People. This will require a 6 week trial. Before she sold her shares, she tried to drink all the wine.
Monday 6 June 2022
How America Collapsed and Became a Fourth World Country - Medium.
Every cancer patient enters remission after drug trial, study reveals - NY Post.
Migrant in potentially the largest caravan ever demands Biden keep asylum promise - Fox News.
Engineer Who Fled Charges of Stealing Chip Technology in US Now Thrives in China - Bloomberg. How do "trade secrets" benefit the population? It limits competition and innovation. Western semiconductors are extremely expensive. If these companies did not file for patents in China, that is their problem.
US government student loans started with $353M in Q4 of 1994, and is now $1,437,078M (blue). Relative to money supply (red), the debt has been reduced by -23% from the peak. The population is already paying for the student loans through inflation.
The Assets of the US Reserve Bank (blue) is money it lends to the government, and the Reverse Repurchase Agreements (red) is money the Reserve Bank borrows from commercial banks. The first one increases the money in circulation, and the second withdraws money from circulation. The money in circulation (green) hasn't come down yet.
The government saves on interest by borrowing from commercial banks at the reserve repo rate (blue) compared to the 2 year Treasury Securities rate (red).
Sunday 5 June 2022
'Turquoise' hydrogen offers Japan new path to decarbonization - Nikkei Asia.
Amazon Wants To Snap Up Tesla Execs Who Want To Keep Working From Home - InsideEVs.
Saturday 4 June 2022
NASA gives up on Boeing Starliner and awards 5 NEW contracts for SpaceX & Elon Musk - Youtube.
Can these cars float? See videos of flooding streets and sinking vehicles in Miami storm - Miami Herald.
Commodities Do Not Cause Inflation. Money Printing Does. - Mises.org.
Research sheds light on why not all obese patients develop type 2 diabetes - Medical Xpress.
In the past the high WTI oil price (blue) had little impact on the official US inflation rate (red):
The biggest factor in the price of a commodity, is the value of the currency in which the commodity is priced. Longer term it is mainly the currency losing value, not the commodity going up in price. Relative to US money supply the price of WTI oil is not unusually high:
This Turkish Lira chart starts at 0.00001.
Friday 3 June 2022
Even NASA is Surprised by the Staggering Power of the James Webb - Medium.
The Real Reason Biden is Focused on Student Debt Forgiveness, with Mark Steyn - Youtube.
The heat pump market will more than double to $13B in cold climates by 2031 - Electrek.
Macron, Bloomberg seek better monitoring of business climate action - Reuters. Given politicians track record of bad decisions, what are the chances they are right about carbon-dioxide? These idiots noticed carbon-dioxide and temperature changes coincide, and can't distinguish between cause and effect.
Thursday 2 June 2022
Tig Notaro's "Mortifying" Anne Hathaway Encounter | Conan O’Brien Needs a Friend - Youtube.
Michael Burry Just Predicted The Unthinkable - Youtube.
Autodesk (ADSK) software, Q1 revenue +18.3%, dEPS down from $0.70 to $0.67, shares -1.35%, non-GAAP dEPS up from $1.03 to $1.43, price/earnings = $214.09/~4x$0.67 ~80, or non-GAAP $214.09/~4x$1.43 ~37. Shareholder equity value is down from $3.82 to $3.11 per share. Past profits have been very volatile. They don't pay a dividend. Net asset value is declining, and is tiny compared to the share price. Shareholders are hoping they will get something out in the future. At the moment they are losing money.
Wednesday 1 June 2022
Legal victory for Johnny Depp after he and Amber Heard found liable for defamation - CNN. According to Deadline the trial carried on for 6 weeks. What a ridiculous waste of the courts, only available to famous people.
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