Jim Cramer: I’m Going To Make Another 10-year Bet On Apple, They’re That Good
LINK > https://blltly.com/2t7Zh8
Yohn said the company's approach was, "We've been told our pizzas suck, and so we're actually going to make substantive changes to what we are offering and change people's perceptions." While it sounded initially like "just marketing speak," Yohn said, "they actually really did change."
FOLEY: That rule was in was formed to counter the idea of bear Raiders, because, again, you don't have to make bear raiding illegal, it already is illegal, because it's manipulative trading. But what they came up with was this idea of, they would allow short sales to occur, but only under certain pricing conditions. And that rule right there was the rule was the primary regulatory rule that stood on the books for almost 70 years.
David Faber: You know, I was very lucky again in getting this job with no experience whatsoever, obviously in the business world or in economics, I was an English major I never even took an economics course, so I really knew nothing, and I was hired to cover a beat that was called corporate lending for this newsletter that was sent out once a week was very high priced called The Bank Letter was owned by Institutional Investor. They owned, a group of these newsletters. And over time, I did come to actually work for a number of them even oversaw a few of them as so-called managing editor. But that initial job, you know, I was very lucky it was a place where a lot of very well-known financial journalists went on or came from to go on to have great careers. You were you're expected to break stories, even though it was a weekly, you're expected to use a corporate card that they gave you, a corporate American express card, and take people out to lunch. And you just had to pick the phone up and obviously it wasn't one of these phones, it was a good old I mean, I think we had touch buttons but it wasn't rotary, but you know, a regular phone and just make outgoing calls and call strangers and get them to talk to you and tell you things. And that was great training, and, over time, you also tended to learn a bit about what you're actually covering thankfully, finance. And so you know, I still amazingly enough have a couple of sources who've gone on to become as you might imagine very senior at their financial institutions who were started when I started, and I would call them at their banks when I was trying to figure out who was going to land the big $2 billion loan. That was our front-page story, you know will Chase beat out Manny Hanny or Chemical, by the way, all one bank now I can keep going all the banks. J.P. Morgan who will actually land the lead position for that $2 billion loan so that was my first job in business rules.
David Faber: Almost always a phone call. it's not the same group; I shouldn't say that. I call the same people every morning. But then there are other people that I will call during the course of reporting and yeah, you're right again around 7:30 or so. In that hour and a half, I have before the show. If there's a story in particular that I need more context or insight on. And so that could be any number of different people. That could be a CEO who I have a good relationship with, but I don't talk to every day. It could be a banker or a lawyer or another senior executive at a company. What I do in terms of sort of the uniform nature of the people I call every day are more people who are in the market, who help me understand at least what they're thinking about in a given day, what corporate news is important to them, what macro news, whatever it might be. That group has stayed relatively constant through the years. I mean it's changed a bit, but there are people now that I've been having a conversation with every morning for, for over 20 odd years and they do tend to run hedge funds, because you know they're thinking about everything, and so it's helpful to me because it helps me think about what they're thinking about.
WRT nobody wanting VR: I read a comment that Zuck wants it because then he can sell you the headset and now he owns the channel. Unlike Apple, Google or MS, Facebook does not control a browser or an OS. With VR, they can. That is assuming there are enough people willing to buy yet another $1000+ gadget.
Exchanges want you to identify yourself to comply with money laundering laws in their country of operation. To use that exchange, you have to associate your pseudonym with your real name. Dealing with an exchange is like dealing with a bank. You have to trust them or they can take everything. The problem is that with no regulation or backing insurance, those exchanges can fail or commit outright fraud or simply make mistakes which leads to theft from the exchange.
The brokerage business in general is going away. That is why Edward Jones (and the industry in general) has shifted away from investment sales and toward planning. You hire Edward Jones because they have an established process to create a personalized strategy to help you reach your financial goals. They partner with you throughout your life to help you on track. You are correct there are other firms that do this but they are equally expensive.
Salvador Rodriguez: It truly is. I think that this is the biggest challenge that they've ever faced. And there are no signs that things are getting better. It's not just one problem. It's a perfect storm of challenges. But Mark has majority voting powers, so what he says goes. Ultimately, no one has more money on the line than he does. But this has become quite the challenge. I really felt it as he got to the end of his earnings call because there was an element of bargaining to his words. At one point, he straight up said, "I appreciate the patience and I think those who are patient and invest with us are going to be rewarded." If you bought in January and you're still patient now, you've lost 70% of what you put in. You could say it's an existential time for the company, but we'll see what happens. We'll see what Mark can pull off.
I\u2019m planning to give out at least 4 x $500 prizes: one for winner of Blind Mode, one for winner of Full Mode, one for winner of Blind Mode answering lots of questions (> 75%? 100%?) - and one to a randomly selected participant, so that even people who aren\u2019t geniuses still have an incentive to play. I\u2019ll increase this if my finances are going well next year, and other people interested in forecasting can add to this prize pool if they want. 2b1af7f3a8