From Pine View Farm

Masters of the Universe category archive

Goldman’s Sacks, Humpty-Dumpty Dept. 0

At Goldman Sachs, words mean what they want them to mean.

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Gaming the Gamers 0

There’s nothing really new in this clip about the Game Stop kerfuffle, but Pap’s guest gives on of the most understandable non-technical explanations of “selling short” that I’ve heard.

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All the News that Fits . . . 0

. . . and none that doesn’t.

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The Fee Hand of the Market 0

Maya Cohen explains how only a few are permitted to wield the free hand of the market.

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The Stock Market Is Not the Economy, Crooked Wheel Dept. 0

Drew Magary took a flyer on the Robinhood app and ended up with very little john, which led him to form a theory about how the stock market works is worked. (Warning: Language.)

From stem to stern, the American economic system is corrupted to boost the market as a collective entity. And THAT is where you put your money.

Individual stocks may go way up or way down, but the market itself only knows one trajectory. They’ll never let the whole market sink even if certain stocks eat curb. When the pandemic hit, what was the first thing legislators worried about? It wasn’t you. It wasn’t your favorite mom-and-pop pad Thai joint. It was the market. Who’d the legislators bail out in 2008 when the banks collapsed? Not you. The banks. Why? To keep the market up. They’ll never let it fail. All of their interests, regardless of party, coalesce within it. Hence, the average American’s best way to survive the vagaries of the market is to invest in ALL the corruption, not in bits and pieces of it.

That means index funds.

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The Fee Hand of the Market 0

The Bangor Daily News reports on a Maine Redditor who invested in Game Stop:

“The hedge fund investors are a little salty right now,” Black said. “There’s poor people making money now. They don’t like to see that.”

Via Atrios, David Dayen has more.

Aside:

Frankly, a strong case can be made that short-selling, basically betting against a company’s success, should be banned.

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DIY 0

And now for a bit of good news . . . .

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The Assimilation 0

Lola says,

Click for the original image.

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Self-Made-Up Men 0

Image One:  Pie chart with sections labeled

Via Job’s Anger.

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Goldman’s Sacks 0

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Trickle-Down Jurisimprudence 0

No one can say that this was unpresidented (details at the link).

Hours after President Donald Trump confidante Roger Stone was sentenced in a Washington, D.C., courtroom to 40 months, a Sacramento defense lawyer seized upon the controversy to argue that federal sentencing guidelines have been tainted by the case and that his client should serve no prison time.

The surprising result? A 13-month sentence of home detention for Andrey Kim, who pleaded guilty in a massive mortgage fraud case that began in 2006 and is estimated to have cost banks more than $16 million.

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How Far Did Wells-Fargo? 0

According to the Minneapolis Star-Tribune’s Lee Schafer, pretty damn far.

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Putting the Public Good Up for Sale 0

The Philadelphia Inquirer reports on a controversy in a school district that led to an ouster of a majority of the school board.

Follow the link for details.

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“A Different Rich Guy” 0

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Foreclosing on America’s Future 0

Thom reads from Homewreckers: How a Gang of Wall Street Kingpins, Hedge Fund Magnates, Crooked Banks, and Vulture Capitalists Suckered Millions Out of Their Homes and Demolished the American Dream.

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No Place To Hide 0

Listen to Harry Shearer’s interview with Shoshana Kuboff, author of the Age of Surveillance Capitalism.

Methinks ’twill cause you disquiet.

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It May Be Artificial, but It’s Not Intelligent 0

Listen to Harry Shearer interview Gary Marcus on why AI is not a thing on the September 22, 2019, edition of Le Show.

In related news, Bobby Azarian points out that one of the things that machine learning enables said machines to learn is bigotry and prejudice. A snippet:

For example, past studies have shown that the same exact resume is twice as likely to result in an interview opportunity if the applicant’s name is European-American rather than African-American. In a similar way, the AI system was more likely to associate European American names with positive stimuli compared to African-American names. There were similar findings in terms of gender, such that female words, like “woman” or “girl” were more closely related to the arts compared to mathematics.

Fast /= intelligent.

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The Watcher in Your Pocket 0

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Fly the Fiendly Skies 0

It’s so easy, even a child can do it.

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Crowd Sourcing 0

Donald Trump at rally saying,

Via Job’s Anger.

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