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As someone who’s been around plenty of boats, but clueless on swimming pools… salt is the bane of all boat owners. It corrodes and basically eats away anything mechanical it comes into contact with. Wouldn’t the corrosion be a concern over time?

Because no one is expecting a debit ceiling deal to be made today. It would likely trigger some de-risking the closer we get to June 1st.

You're basically moving to where my mom and brother live. I visit on occasion. Can grab a brew when I am stateside and you're all settled.

I assume they get paid at some point. Cost of borrowing would shoot through the roof though afterwards. Rates would explode higher.

Well, I made a boomer trade yesterday. Dumped about $200k into 1 month treasury bills. They are now paying ~5.7% (annualized). Nice place to park some funds while we navigate the debt ceiling turbulence. *Edit* Also to note, if you have a Fidelity account, you can buy treasuries directly...

Problem with these beach rentals that is anything other than FL or near a large city, is they mint in the summer, but then sit mostly empty in the winter. Get enough of these rental properties (hi AirBNB landlords) and it decimates the local area out of season. Those properties sit empty and the...

PACW (PacWest bank) down about 25% premarket here as they report deposits fell nearly 10% last week. Also hitting the desk: 08:17*(US) FDIC said to make announcement on deposit insurance fund today, May 11th - press

*edit wrong thread

Remember this name was trading $400 in 2021. Even with this huge gap up on earnings, it is trading $19. Those are some heavy bags for folks. Then there's always this legendary gem:

Yea, Florida (like Texas) went crazy hot on housing following the work from home (zero state income tax) and some political reasons. Hell, many NY trade firms have up sticks and moved to Miami / Tampa areas for tax reasons. I believe Tampa has had the largest home price boom in all of the US...

(US) Goldman Economist Hatzius: Today's takeaway is labor market remains resilient; We still think no recession is mostly likely outcome - CNBC

On the call right now: Apple CFO: Revenue is lower year over year.

https://www.apple.com/newsroom/2023/03/apple-introduces-apple-pay-later/

https://www.apple.com/newsroom/pdfs/FY23_Q2_Consolidated_Financial_Statements.pdf

Under the surface, not all roses. - Gross margin 44.3% v 43.8% y/y (calculated) - iPhone Rev $51.3B v $50.6B y/y v $50.3Be - iPad Rev $6.67B v $7.65B y/y - Mac Rev $7.2B v $10.4B y/y - Services Rev $20.9B v $19.8B y/y - Greater China Rev $17.8B v $18.3B y/y

Be sure to leave some dry powder aside for the congressional budget fuckery to come.

14:05(US) Federal and State officials said to be investigating market manifupulation in banks - press

Here's me skipping my own dd on INTC and taking news for it. My bad. Was watching AMD and NVDA though. News has hit CNBC and Bloomberg, so no fake news short to be had.

Reports MSFT to fund AMD AI chip research. 13:20 $AMD Reportedly Microsoft helping finance AMD expansion into AI processors - press AMD mooning >10%, INTC / NVDA dumps. **Not mine:

From 2 weeks ago. Trading $4.40

Shit gets even crazier. 10:49 [WAL] Refutes FT report; says report of deal talks is "absolutely false" - press WAL claims they are considering legal action vs FT.

Regional banks all dumping. 10:18WAL *REPORTEDLY EXPLORES POTENTIAL SALE - FT KRE (regionals etf) down 9% VIX back over 20

Considering the financial literacy of the average American, why would this be any surprise whatsoever?

PTON .. $170 in 2021. $8 today. I remember having the conviction that this trash would dump once people went the fuck back outside and remembered home gym equipment is typically an impulse buy that gets relegated to being a clothes hanger / sold for cheap. Let alone some crazy subscription...

Apple took a hit on the back of this news in post market.

This should be it. The only point of the entire conference.

- FTC says that the company violated 2020 privacy order; proposes new protections for children and teens META dumping like a small cap

META: FTC proposes blanket prohibition preventing Facebook from monetizing youth data

Absolutely. It is basically a certainty of 25bp hike. The real issue at hand is the market seems to be priced for rate cuts coming this year and not much positioned for recession. All eyes are going to be on his statement and presser. Do we get hawkish Powell ("more work to do" / "higher for...

Regional banks all getting slaughtered this morning. KRE (regional bank ETF) hitting Nov2020 lows. Australia did a surprise rate hike. Expectations were for a hold. Stickier inflation data showing up all over Europe. All eyes on the Fed tomorrow. The sooner the markets throw out these rate cut...

AI AI AI !!!

Most of Europe on a holiday today. Could be some muted volume / volatility. My biggest hesitation of calling the worst of the turbulence behind us is the lack of breadth in the market gains YTD. We have a handful of names that have pulled the S&P up. The likelihood of returning to the next bull...

10:31 [FRC] David Faber: Focus seems to be on FDIC solution that will involve receivership - CNBC - Banks are being asked for their best bids - Still hoping for market based solution, but still feeling less likely Who thought the banking drama was actually over? FRC multi halt down -30%

Too lazy to look. What was said on the earnings call that spooked AMZN?

Doesn't seem to matter. Dumped the entire move and now trading lower than market close. - Guides Q2 -$0.04 v $0.00e - Gross margins (non-GAAP) 38.4% v 53.1% y/y

Amazon and Intel both double beats. INTC Reports Q1 -$0.04 v -$0.16e, Rev $11.7B v $11.1Be AMZN Reports Q1 $0.31 v $0.25e, Rev $127.4B v $124.4Be

What a ripper day.

My repost