Most of the really big returns made by investors and entrepreneurs come from companies which seem to have one unmistakable element.
Unlike Steve Jobs, who almost literally passed away engrossed by his lifetime legacy, his work, that "other" billionaire, Oracle's Larry Ellison, 70 years young, has decided to step aside and focus on the more enjoyable things in life such as buying Hawaiian islands.
The penny stock mafia are at it again...
- Euro left reeling after ECB's liquidity splurge (Reuters)
- Coalition Emerges to Battle Islamic State Militants (WSJ)
- Ukraine Gas Chief Takes on Gazprom in Race With Winter (BBG)
- Nato leaders fail to agree spending targets (FT)
- JPMorgan Had Exodus of Tech Talent Before Hacker Breach (BBG)
- Mercedes-Benz Sales Rise Despite Weak German Demand (WSJ)
- Secret Network Connects Harvard Money to Payday Loans (BBG)
- ICE looks to crack financial data market (FT)
Labor unions are a dying breed. According to the Pew Research Center, union membership in America “is at its lowest level since the Great Depression.” In 1983, there were approximately 17.7 million union workers. Today, that number stands at 14.5 million, with every estimate showing a continued downward trajectory. Clearly, the Norma Raes of the world are going extinct. But as Samuel Johnson quipped, one should never dismiss the triumph of hope over experience. With economic growth still staggering, the decline of union membership can’t come soon enough. Freed from the demands of overpaid bargainers, innovation and productivity inevitably rise. Increasing numbers of Americans are migrating to states with less strenuous union laws. When given a choice, workers go where the money is; not where there’s tough talk about bargaining rights. Ayn Rand had unions pegged best when she declared their purpose has never been to empower the average worker. “Unions and trade associations,” she wrote, “are not directed against employers or the public but against the best among their own members.” The goal has never been about “raising the weak in any way whatever, but simply forcing the strong down to the level of the moron.”
Apple's Price Hits All-Time High On New Product Speculation, As New Products Are Delayed - Take Your Positions!Submitted by Reggie Middleton on 08/22/2014 12:37 -0500
Apple hits all time highs on new product speculation as its new products hit production snafus, delaying them while competitors launch major products anyway. This is how to monetize your position!
Let Us Count the Ways ...
There can be little doubt that Thomas Piketty's new book Capital in the 21st Century has struck a nerve globally. In fact, the Piketty phenomenon (the economic equivalent to Beatlemania) has in some ways become a bigger story than the ideas themselves. However, the book's popularity is not at all surprising when you consider that its central premise: how radical wealth redistribution will create a better society, has always had its enthusiastic champions (many of whom instigated revolts and revolutions). What is surprising, however, is that the absurd ideas contained in the book could captivate so many supposedly intelligent people.
Where you exist in your family’s birth order can profoundly inform your path in life, whether because of genetics or simply the way that family members tend to treat firstborns vs. middle children vs. youngest children. Psychologists have been debating the “Why?” since the 1800s, but, as ConvergEx's Nick Colas notes, the outcome is certain regardless of the cause – the effects of birth order last for a lifetime... If you had to size up a stranger and you could only ask them one question, what would it be? For me, the answer is simple: "Where are you in the birth order of your siblings?" Are you a first/only child, or a later born? The answer is quite telling. By virtue of genetics or childrearing (the debate rages there), birth order matters a lot to the person you become.
For those who believe they can predict the Apple's acquisitive future based on the company's historical M&A pattern, here is a summary of the company's acquisition history over the last two decades.
This system is on the way out. It will reset. Like feudalism before, our system will go the way of the historical dust bin. And future historians will look back (just as we view feudalism) and say “why did they put up with that nonsense…? This reset is nothing to fear. Human beings are incredible creatures who have a long-term track record of growth. We rise. We progress. As Jobs notes, human beings were fundamentally tool creators. We take our situation, however grim or rudimentary, and we make it better.
- Putin playing the long game over Russian kin in Ukraine (Reuters)
- U.S.-Russia Relations Come Full Circle After Ukraine (WSJ)
- Japan PM makes offering to Yasukuni Shrine, angers China, South Korea (Reuters)
- In Gold Miners' Talks, Scale Is Crucial: Combined Barrick-Newmont Would Be Able to Trim Costs (WSJ)
- SEC Said to Weigh Shining Light on Brokers’ Stock Routing (BBG)... and protmply unweigh it
- Exelon Beating Facebook in S&P 500 After Valuation Scare (BBG)
- Court Case May Help Define 'Insider Trading' (WSJ)
- Spanish banks face tough rivalry in small companies bet (Reuters)
What Is Tesla Worth? According To Goldman It Depends If Elon Musk Is Steve Jobs, A Maytag Repairman, Or Henry FordSubmitted by Tyler Durden on 03/18/2014 08:29 -0500
Goldman Sachs is bearish on TSLA with a $200 price target (currently trading at $236) but... provides bulls with all the hope they need to justify stock prices rising to at least $478. Laying out 5 scenarios on the company's path to 2025, the analyst shies from his base-case and downside-risk perspective to reflect on the possibility that TSLA is truly disruptive. Depending on whether Elon Musk is Steve Jobs (iPhone projections), Henry Ford (Model T projections), or a Maytag Repairman (Consumer Durable projections), TSLA's upside is enormous as all of our three “disruptive outcomes” imply meaningful upside to the current share price. Of course, the probability assocoated with each of these scenarios is why Goldman's overall target is 15% below current prices - but that won't stop the dreamers.
Bill Gates recently gave an interview to Rolling Stone magazine. The vast majority of the interview focused on his philanthropic efforts, with a particular focus on poverty and climate change. However, several questions were brought up on illegal NSA surveillance in general, and Edward Snowden in particular. His answers reveal one of the biggest problems facing America today, which is the fact that the billionaire class as a whole does not question or rock the boat whatsoever. They criticize only when it is convenient or easy to do so, never putting themselves at risk for the sake of civil liberties and the Constitution.
The news last week that bitcoin's founder had been sort-of/maybe/not-so-much “found” got ConvergExs's Nick Colas thinking about the importance of creation myths in business and economics. A key part of bitcoin's current appeal is anonymity, so the fact that the digital currency’s inventor is unknown highlights that central value proposition. The tech industry is full of creation myths that resonate with both general social messages and specific business models. Hewlett and Packard, Jobs and Woz, Page and Brin – all began their businesses in garages, showing that anything is possible with a great idea. However, as Colas details below, the truth behind all these stories is, of course, far more complex than the idealized creation myths we tell about them.