Scholarship table
Several WFC execs, including the fired CEO, got fined a collective $59 million for their roles in the fake-accounts scandal. Talk about getting a slap on the wrist.All of these guys became multi-multi-multi-millionaires, socked away the dough for years by cheating customers and screwing shareholders. Fining one of them $10 million would be like fining one of us $10. Except we'd miss the $10 more.They are thieves, this was a capital crime, and they should have done serious time. Instead, they were fined a pittance.
I'm not advocating that the punishment wasn't lenient and that they shouldn't do jail time, but I think you're massively understating the amplitude of the fines. This isn't Jeff Bezos or a tech CEO worth billions. This was the CEO of a publicly traded company who received the vast majority of his compensation in options and stock, much of which has to vest. His annual salary was in the $2-3MM range. WFC clawed back a big chunk of his options and compensation when things broke in 2016. Most estimates of his net worth are in the $50-60MM range. Obviously he's not going to be panhandling in the street, but this isn't some meaningless $10,000 fine for a late hit for an athlete making $500K a game. $17MM is a pretty substantial hit, especially since the vast majority of his fortune isn't liquid. I think the fines are pretty fare and justifiably punitive. You're a smart guy, you're better than lumping every "wealthy" person in with the bulletproof Bezos/Geffen/oligarch megarich. They should have done jailtime, on that we can agree.
open October 30... $92.39Today.. $110.8620% proper
Has anyone started repositioning their portfolios yet?We're in the 10th year of an economic expansion (almost 11) and many of us who have been invested in equities have done very well in recent years. Is it time in your eyes to begin to lock in gains from the current economic environment, or do you ride a bit longer in hopes the economy stays strong?Inquiring Warriors are curious.
Depending on conditions the repositioning habit should take place two to three times a year.
Wow, I'm very concerned for Benny. Being able to mimic Myron Medcalf's writing so closely implies an oncoming case of dementia.
Saw this for 2020: Gold, big tech underperforms, Japan (Olympics), German reset with a stimulus, gaming over streaming, emerging markets if USD softens, low inflation continues, UK after Brexit to be strong, lower corporate buybacks that boosted stocks in 2019, low volatility continues to overperform market.
This reads like a farmer's almanac.
If you require details, pay me my rate.
Anybody hopping on the sprint/T-Mobile train today?
Sell the news
Huh?
Buy the rumor, sell the news is an old saying. Basically you buy when all the big guys are running it up on speculation, then sell when the news comes out, the average Joes read about it and go to invest, and the big funds take profits and sell to them and the prices drop cause they own far more than retail is buying
Yesterday, on the Exchange:https://www.youtube.com/watch?v=WFALYnEq7Ao
Would strongly encourage all to get into AMRN, ASAP - as in Monday. I put 50% of my portfolio into it back in July and used another 25% to buy the dips the last 5 months for dollar cost average of $18 per share.AMRN's Vascepa will revolutionize the way we treat heart disease, diabetes, strokes, and potentially dementia.Other strong biotech play: IGMSStock I took a flier on and kind of like is WRTC.
I would take the Rick SLU program right now.