Hit & run

Let’s hope you didn’t buy Uber stock. The app-on-wheels filed an IPO last week suckering in lots of investors at $45 a pop. Now that they’ve shed 15% of their money in a few days, many are bailing.

Uber, of course, is a complete pooch. Losing gobs of money. Gong show management team. And a business model based on an unproven technology – driverless cars. On what planet is this outfit worth $100 billion?

Just another example of why it’s always a gamble buying individual equities. Especially initial public offerings. And specifically tech stuff. Us old salts have seen this before, in technicolour, as investors paid a huge premium to own dot-com companies with no profits and cool CEOs on skateboards. In the end, when the ‘90s tech bubble burst, the average Internet stock lost 80% of its value. Sure, the whole world is online now. But companies that make no money are usually no place to put yours.

Uber picked a sorry moment to launch, too. Trump saw to that. The American president ramped up his trade war with China last week increasing tariffs on $200 billion worth of goods in the middle of trade talks, begging for retaliation. That came Monday. And so it escalates.

Financial markets had been pricing in a new US-China trade deal. And for good reason. The tariff war ain’t helping the US one bit. Manufacturing costs are up. Farmers are whacked. Washington’s spending billions in compensation. The Trump war is a destructive, costly exercise based on the flawed premise that America has to ‘win’ at international trade and that walls work. They don’t. Mr. Market knows that. More tariffs mean less profits. Down she goes. Six hundred points on the Dow.

But investors also bet Trump wanted a China deal badly doing into the 2020 election cycle. It would be a significant feather in his orange mop, and ignite further market gains. Since the president uses the Dow as a proxy for his achievements, it was assumed he would negotiate a deal, not blow it up.

Well, word is the Chinese think they’re winning now. When Trump whined about the Fed and said he wanted more stimulus and a rate cut, that was taken as a sign the American economy needs gas to avoid a recession. Then North Korea fired a missile, proving the US had no influence on Kim. Iran is a big, ugly, dangerous distraction. Pompeo and Bolton look like two nutjobs in search of a war. So, Beijing figures, recession and turmoil might be closer than anticipated in the States. Why give in to the bully?

As you could tell from what happened Monday, investors hate this. Stocks went down hard. Bond prices shot up. Yields fell. FAANG stocks tumbled. Uber was run over. Investors with balanced and diversified portfolios were not immune, but certainly beat the market. In terms of worst-day-ever performance, Monday was not in the Top 20. Not even close.

Is it another buying opportunity, like last Christmas when the steerage section of this pathetic blog was awash in tears and blood? Maybe. Perhaps not. The best possible strategy is just to ignore it all, stay invested and understand this is more noise. Economies will ebb and flow. Rates rise and fall. Markets gyrate. Politicians come and go. It takes courage and experience to understand what happens on one day, in a single month or over the course of a year hardly matters a whit in the sweep of a lifetime. Invest when you have money, stay invested and use the tools you’ve been given – like a tax-free investment account, retirement vehicles and huge tax breaks on investment income or interest deductibility. No matter what you read here, nor the advice from advisors trying to scare you into their arms, remember the 10 rules.

Never sell into a storm.
Ditch your emotions.
Be disciplined. Stick to a plan.
Don’t time the market.
Never chase returns.
Use tax shelters.
Start early. Never stop.
Invest, don’t gamble. No speculation.
Be balanced and diversified.
And don’t be a cowboy.

A rational conclusion is Trump will end this. The biggest reason to vote for the guy next year is the economy. MAGA. Jobs. Wages. Opportunity. Not recession, unemployment and loss. So, relax. Have a beer. Hire an Uber. Big tip.

161 comments ↓

#1 Westjet baby! on 05.13.19 at 4:16 pm

To the moon :)

#2 Stan Brooks on 05.13.19 at 4:20 pm

Uber is an example of a current and future global disruptor.

Maybe now is good time to buy.

Look at bitcoin and gold. Doing much better than the Poloz’s peso lately.
Despite the bashing.

Contrarians and mainstream are mutual exclusive.

#3 AGuyInVancouver on 05.13.19 at 4:23 pm

Countown to Smokingwreck & Co telling us what a stable genius Donald Trump is…

#4 PA on 05.13.19 at 4:24 pm

Why did Canada engage in putting a tariff on incoming US goods, when this doesn’t do anything but punish its own citizens? Two bad decisions don’t make it right…

#5 n1tro on 05.13.19 at 4:29 pm

Didn’t some folks here predict the economy/markets to tank after the Uber IPO last year? Let’s see what will happen.

#6 Jimmy on 05.13.19 at 4:37 pm

First for the week!

#7 cy on 05.13.19 at 4:54 pm

Garth,
Do you provide typical portfolios at different ages. This may be useful for all your readers.

#8 Dolce Vita on 05.13.19 at 4:54 pm

Ron Popeil Zen of your Rules:

“Set it and forget it.”

1 of your guys charted the S&P 500 as up 9 out of 10 periods…it’s that 1/10 that’ll kill ‘ya every time with worry.

It’s always been a long game.

Short game is that Trump’s running out of time with China and he and they know it…he’ll cook up some face saving excuse to kiss and make up with them soon enough. I agree with you Garth.

Meanwhile the Democrats: Government by Subpoena. Poor America.

#9 Re-Cowtown on 05.13.19 at 5:07 pm

China figures it can run out the clock and then bend over Biden or whoever the Democrats think that they can elect. But Trump is also playing it right; telling China to go pound sand.

If Trump was a politician he’d be screaming uncle and trying to get a deal, any deal, like Obama did. Unfortunately for China they haven’t figured out that Trump isn’t a politician. That miscalculation could bite Beijing’s ass, and hard.

China likely greenlighted NKO’s missile tests to try to rattle Trump.. Trump didn’t take the bait. Same with Iran. Anyone want to bet that all of these international issues all have one thing in common? Yep. China ……

And they all mean that China is scared. Trump has China in the corner and he’s hitting them with body shots.

Trump wins in a TKO in the third round.

It’s not a fight. More buckets of testo is not what the world needs. – Garth

#10 yorkville renter on 05.13.19 at 5:12 pm

Trump continues to prove he is the WORST president ever… and also a deplorable human being. Almost as bad are his minions who can’t have a single independent thought. Trump even said he loves the uneducated – birds of a feather I suppose

#11 Lost...but not leased on 05.13.19 at 5:20 pm

WestJet to be sold in $5B deal

https://www.cbc.ca/news/canada/calgary/westjet-sold-five-billion-private-company-1.5133465

==========================

Let the dust settle….but I suspect the parts sold off will be worth more than the Westjet intact.

STAY TUNED !!!

#12 TT on 05.13.19 at 5:32 pm

China absolutely needs to be addressed … it is a totally unfair playing field and we are losing. The world is now waking up to this reality and fighting back… we cannot compete under this current wto framework…. the trade surplus imbalance is only the surface of it…

After the US and Europe, China is our largest trading partner. – Garth

#13 Rex on 05.13.19 at 5:32 pm

These are troubling times. I use the buddy system. No more flying solo. You need somebody watching your back at all times. Second off, you need to learn to discipline your image. You think I got where I am today because I dressed like Peter Pan? This summer I am spending it with my uncle in Alaska hunting wolverines.

#14 young & foolish on 05.13.19 at 5:35 pm

I remember when Facebook IPOed …. and Netfix ….

Anyway, invest and prosper …. the market always goes up (eventually)

Wow. That old? – Garth

#15 Chasing on 05.13.19 at 5:40 pm

What does “Never chase returns” mean?

Buying stock with a nice (and growing) dividend, is a bad idea? Why?

#16 SunShowers on 05.13.19 at 5:42 pm

Not to mention Uber and many other of these gig economy “employers” are being (and have been successfully) sued for intentionally mischaracterizing their drivers as independent contractors instead of employees.

Somehow these parasites can’t even turn a profit when their drivers are paid less than minimum wage and have zero protections under labor law.

#17 That's All, She Wrote on 05.13.19 at 5:42 pm

If I may say, this is terrible analysis. It’s all “Trump should…” rather than the more useful (and profitable) “Trump is likely to…”

“[…] investors also bet Trump wanted a China deal badly […]” — Some, maybe. Not this one. I suggest reading Chris Balding. Not exclusively, of course, but his analysis on China trade has been far more on point. And Michael Pettis. And Brad Setser. Or just keep doing the que sera sera sera with post hoc analysis.

#18 Remembrancer on 05.13.19 at 5:43 pm

#1 Westjet baby! on 05.13.19 at 4:16 pm
To the moon :)
———————
Q: How do you become an airline owner millionaire?
A: Start as an airline owner billionaire…

#19 Hey Yorkville renter on 05.13.19 at 5:43 pm

President Trump is a real estate mogul.
I guess you being a renter, I understand.

#20 yorkville renter on 05.13.19 at 5:43 pm

#9 – Cowtown – Trump started this.

For the record, I agree that somethimg had to be done about China, but tariffs are tools for simpletons… Trump is a simpleton. He has failed at pretty much everything he’s ever tried; Fred Trump was the only brains jn the operation (much like the Fords of Ontario).

Better ideas? How about billions in tax cuts for companies opening manufacturing jobs in the US? How about billions to move factories into the rust belt, or Federal agencies?

Instead the costs are falling on consumers, the market is losing steam, and Teump has to pay off Farmers, to the tune of tens of billions, because China won’t buy their goods.

Trump is an idiot

#21 Remembrancer on 05.13.19 at 5:49 pm

#2 Stan Brooks on 05.13.19 at 4:20 pm
Uber is an example of a current and future global disruptor.

Maybe now is good time to buy.
—————————————-
Disrupting what though? Are there any publicly traded taxi companies or pure play dispatch / routing companies (too lazy to check). If so, what does their history look like?

Seeing cars with both Uber and Lyft stickers on the back window should tell you something…

#22 BlogDog123 on 05.13.19 at 5:54 pm

Remember those “Pets.com” TV commercials with the silly sock puppet dog? Show me the money!

https://static.businessinsider.com/image/4c1ca9ed7f8b9a836fa70c00-750.jpg

#23 Big Bucks on 05.13.19 at 6:00 pm

Buying any 1 stock is stupid–I remember when some took on 2nd mortgages to buy Nortel.

#24 Remembrancer on 05.13.19 at 6:02 pm

#11 Lost…but not leased on 05.13.19 at 5:20 pm

Let the dust settle….but I suspect the parts sold off will be worth more than the Westjet intact.

STAY TUNED !!!
————————————————-
https://quotes.wsj.com/CA/WJA/financials/annual/balance-sheet

CDN $1.3B cash for starters…

#25 Edwardo on 05.13.19 at 6:12 pm

Tariffs on China are pure genius…much better way to attack global warming than a tax grab.

Wean people off cheap plastic WalMart junk made in a country with no environmental rules, in a dangerous factory powered by a dirty coal plant.

Canada needs to join the band wagon!

#26 Shawn on 05.13.19 at 6:16 pm

25 bps FED rate cut coming. The BOC will follow. Up goes USD. Down goes $CAD.

#27 Shawn on 05.13.19 at 6:18 pm

$CAD is likely to retest the 2002 lows.

#28 Evangeline on 05.13.19 at 6:18 pm

I never paid much attention to world trade agreements before but the subject can’t be avoided with President Trump’s focus on trade deals. My question is, Has anyone ever actually ~negotiated~ with China before?

My dad used to negotiate with trade unions and it was always a long process of back and forth, demands, walkouts, strikes, harsh words, compromises, etc. before settlements and agreements were finally reached.

I think what we’re seeing is the up and down process of negotiation, and I’m feeling that it’s going to end with a good deal that will satisfy both sides.

Garth, I loved your upbeat last paragraph.

#29 Reximus on 05.13.19 at 6:19 pm

uber, lyft, tesla…none of these will exist as is in 5 years. but which one will be bought out at a premium and which will just be closed?

my money is on tesla…a car company will buy it. probably GM. the other two’ are really just software that can be replicated

#30 red falcon on 05.13.19 at 6:24 pm

Rule #1. never buy IPO’s.
Rule #2 don’t forget rule #1
Rule #3 if it doesn’t pay a dividend, don’t buy it.

meow!

#31 Phylis on 05.13.19 at 6:29 pm

I wanna see the robo taxis navigating construction zones, that will be so cool. 2020 eh?

#32 Re: red falcon on 05.13.19 at 6:32 pm

#30
red falcon:
Rule #1. never buy IPO’s.

What a dumb rule!

It ensures that you lose out on the +2000% capital gains on GOOG.

Who cares if there are a few that go -100%, if every now and then, you get a +2000%.

Dumb, dumb, dumb.

#33 old dinosaur on 05.13.19 at 6:32 pm

It actually is caused by the Fed propping up a vastly due correction to get beyond their meetings like they do every time they meet.

Don’t believe me, go collate the meeting dates with the markets…

This market lost steam technically March 28 and kept going higher creating a massive divergence that sucked in fresh stupid money…..

No intermediate correction when one was far overdue.

Blame it on politics, That ain’t it. The market went straight up far too fast after the Fed signaled party on…

Smart money left 2 weeks ago. Long term holders don;t care because they believe in the 20 years Bull Market story everyone is pumping….

Trump asked for juice for a reason, the business cycle in the short term is over….

Long term who knows…

Had a great run this last quarter, the algos, Fed, and hedgies simply took it too far like they always do. Of course, stupid money piled in at the top as usual.

Intermediate correction may last a while to correct sentiment…

BTW short squeezer on gold occurring… A hedgie or bank just got caught. Fun to watch the big boys get their butts wiped for change.

And no – I’m not a gold bug..

#34 Re-Cowtown on 05.13.19 at 6:37 pm

#20 yorkville renter on 05.13.19 at 5:43 pm
#9 – Cowtown – Trump started this.

For the record, I agree that somethimg had to be done about China, but tariffs are tools for simpletons… Trump is a simpleton. He has failed at pretty much everything he’s ever tried; Fred Trump was the only brains jn the operation (much like the Fords of Ontario).

Better ideas? How about billions in tax cuts for companies opening manufacturing jobs in the US? How about billions to move factories into the rust belt, or Federal agencies?

Instead the costs are falling on consumers, the market is losing steam, and Teump has to pay off Farmers, to the tune of tens of billions, because China won’t buy their goods.

Trump is an idiot.

+++++++++++++++++++++++++++++++++++

Name one person who has got the better of Trump since he decided to run for president. How about:

1. Low Energy Jeb?
2. Crooked Hillary?
3. James Comey?
4. Clapper?
5. Mueller and the Thirteen other Angry Democrats?
6. Pelosi?
7. Ayatollah Rohmeini (Iran)
8. ISIS?
9. Nadler?
10. Fauxchontas?
11. Rosenstein?

For an idiot Trump sure leaves a trail of smart people scratching their heads and suckin’ slough water.

#35 fed rate up not down on 05.13.19 at 6:40 pm

#26 Shawn: the logical next fed step in an escalating trade tariff war is an interest rate increase, not a decrease, after all increased tariffs will result in higher import prices which will drive infoation up, not down.

#36 Dolce Vita on 05.13.19 at 6:42 pm

Sorry Garth, off topic but pretty funny.

Before the Trump bashing vs. Trump love starts, our poor PM posts and quotes, in general, a Bloomberg.com article about job creation in Canada and a Twitter hazing storm ensues on that Tweet (Canadian’s GIFTED when it comes to this, they even had a BS Meter which I had to do a double take on…but THAT was good):

https://twitter.com/JustinTrudeau/status/1128001460518760448

Thank God we live in a Democracy and have Freedom of Speech.

Imagine saying the above about Xi Jinping in China with their Social Credit System thingy.

Come to think of it, now I know why the truckloads of Chinese tourists are so polite here in Italia – mystery solved. And yes, they take pictures of EVERYTHING. I don’t think there is a cobblestone in Firenze or Venezia that hasn’t been photographed by them – TRUE.

Personally, I love them (the politeness, they’re gentile and they eat our food like there is no tomorrow…mangia, mangia…for that alone they get my respect and the respect of all Italian Grandmothers).

————————-

Ya, I know Garth…Buonanotte.

#37 akashic record on 05.13.19 at 6:42 pm

Rumor says Mr Icahn unloaded his pre-IPO stake in Uber to Mr Soros. Too bad you didn’t write this article before the IPO, he could be your grateful fan for life.

#38 Ed Tachem on 05.13.19 at 6:46 pm

https://www.cbc.ca/news/canada/toronto/kevin-johnston-paramount-2-5-million-mohamad-fakih-1.5134227

Radio host Kevin Johnston is being persecuted for free speech. Canada is a pinko commie state which loves to pander to undesirables and non-Canadians.

I am ashamed to be Canadian.

You have lots to be ashamed about. Being Canadian is not one of them. Go away. – Garth

#39 why not on 05.13.19 at 6:46 pm

Uber, of course, is a complete pooch. Losing gobs of money. Gong show management team. And a business model based on an unproven technology – driverless cars. On what planet is this outfit worth $100 billion?-GT
/////////////////

Quite strong words for a company that has raised BILLIONS!!!
Let’s see your CV

You’re right. I don’t lose $300 million a month. – Garth

#40 Reality is stark on 05.13.19 at 6:50 pm

DELETED

#41 why not on 05.13.19 at 6:56 pm

More buckets of testo is not what the world needs. – Garth

////////////

Then why the cowboy boots?

#42 Jimers on 05.13.19 at 6:56 pm

Four more years!

#43 marcus on 05.13.19 at 6:59 pm

Sadly today’s post is yet another confirmation how far China has infiltrated Canada. Time is short. There will be a war over the South China Sea Maritime Belt and Road. Canada has served as a laundry facility via their banking system allowing China to launder Billions via Real Estate and other “business” ventures. The time will come when Canada will have to choose. America or China. Same goes for many other nations. China is a total Hell hole. Just ask 2 million Muslims who are in re-education camps learning about the glory of the middle kingdom. Like Trump or hate him ………. He has China right where he wants them. No joke.

#44 Muttley O'Toole on 05.13.19 at 7:00 pm

https://theconservativetreehouse.com/2019/05/13/investment-exodus-shifting-supply-chains-china-walks-into-trumps-golden-ticket-trap/

May I suggest the blog dogs who are interested have a look at this -in my opinion this bloke is the coolest and most switched on delver into political problems I have come across.
Garth is maybe a stocks/portfolio genius but this bloke sees past the obvious when it comes to Trump.

Some say beneath Trump’s surface is more surface. – Garth

#45 Reximus on 05.13.19 at 7:01 pm

these companies just want your info…like ancestry.com you PAY them to reveal your secrets to them which they sell….uber is the same

#46 Steve on 05.13.19 at 7:04 pm

Trump must be missing a chromosome.

#47 akashic record on 05.13.19 at 7:05 pm

#12 TT on 05.13.19 at 5:32 pm

China absolutely needs to be addressed … it is a totally unfair playing field and we are losing. The world is now waking up to this reality and fighting back… we cannot compete under this current wto framework…. the trade surplus imbalance is only the surface of it…

After the US and Europe, China is our largest trading partner. – Garth

When Western manufacturing was outsourced there , that trading spot was bound to happen.

Any insider info, or at least some fake news when the promised transformation of the Chinese Communist dictatorship into democracy is going to happen?

#48 Chaddywack on 05.13.19 at 7:08 pm

My dad tried to get me to buy Uber. His last three “hot tips” have resulted in me losing thousands.

At least it offset some gains, but I’d rather have had the gains…….

Glad I didn’t listen this time.

#49 Re-Cowtown on 05.13.19 at 7:09 pm

#23 Reximus on 05.13.19 at 6:19 pm
uber, lyft, tesla…none of these will exist as is in 5 years. but which one will be bought out at a premium and which will just be closed?

my money is on tesla…a car company will buy it. probably GM. the other two’ are really just software that can be replicated

++++++++++++++++++++++++++++++++++

Tesla isn’t really a car company. It’s a tax-sucking financial venture that needs to build some stuff to keep the con going. Remove Tesla’s CO2 credit resale scheme and it’s electric car credits and it’s just another black hole that burns cash.

As an auto manufacturer, Tesla has nothing that anyone needs. Seriously. Nothing. Porsche has already eaten Tesla’s lunch in the battery range/recharge wars. Tesla does not have the war chest to compete.

And with the stock under $230 Musks’s about to start getting calls to sell off the stock that he pledged as collateral for his multi-billion dollar loans. Next stop for Telsa will be $30, then 30 cents.

#50 mike from mtl on 05.13.19 at 7:12 pm

#25 Edwardo on 05.13.19 at 6:12 pm
Tariffs on China are pure genius…much better way to attack global warming than a tax grab.

Wean people off cheap plastic WalMart junk made in a country with no environmental rules, in a dangerous factory powered by a dirty coal plant.
////////////////////////////////////////////////////////////////////

I hope that is sarcasm as cheap crap is what joe public voted for – with their wallets. Thailand and Viet are already in works as the ‘next China’. One huge hand China has is their integrated, mass volume semiconductor fabs, so far no one place on this rock even approaches south China there.

Once the Silicon supply chains ramp up in say Viet and China loses their electronic edge.. mass layoffs, housing bubble, they’ll have far worse problems than trade that is for sure. CCP are not stupid and the screws are already getting tightened.

#51 Shawn on 05.13.19 at 7:14 pm

US equities should continue to outperform emerging markets, Canada and Europe for a while yet.

As of March, BAML fund survey showed extreme crowding in emerging markets. Hence they will likely underperform.

Inflation and commodities look weak here.

#52 marcus on 05.13.19 at 7:16 pm

Akashic Record: Sadly such an outcome for China is not in the cards. Xi is President for life and now his poodle President Duterte of the Philippines has just won big time in their senatorial elections. Expect the return of the death penalty and moves to create a new Federalist system for the RP. This will in effect make Duterte and his children President for life. Just like his master. Why does this matter? The world is rapidly approaching the time when Nation States will have to choose sides. Marxist Communism vs Democratic Republicanism. China and her lackeys vs the Western Powers. Canada sadly is being treated like a toilet in the Provinces of China. In the morning it is used for #2 and in the afternoon it is used for laundry. Oh how far Canada has fallen due to greed. Garth laughs it off and calls it jealousy. (The rich Chinese guy with 40K in his pocket) The reflective person wonders “Where did that money come from?” Ans: Slavery, corruption and murder. China. The Middle Kingdom.

#53 TurnerNation on 05.13.19 at 7:17 pm

On this testo drenched weblog.
New well organized protest stickers plastered on public fixtures all over Downtown Hogtown exclaim: Fix the Gig Economy.

You mean all those Millenials using the phone apps for daily ordering of contracted food delivery, ride shares?

Uber…like Tesla is a de facto deep state scam to bilk taxpayers.
Prove me wrong. Tesla getting billions in Taxpayer handouts. (The new Peoples’ Car ja)
Space X, would they really let a civillian launch metal into the most controlled and weaponized part of our world (space)?

Uber…next step is launching their zany E-scooter rentals all over, handily will qualify for “Green” tax credits and rebates all over imo. Self driving cars..the same. Wait and see

#54 acdel on 05.13.19 at 7:19 pm

I will be very honest, at first I thought that Trump was just popcorn material; now, even though he is not perfect; who is??? Under-estimate him to your whim; when he gets re-elected there will be a new normalcy.

The left have gone too far to their own lies,greed and to be frank just lunacy. Seriously, did you “really” think that we would just implode to your lunatic views. Get off your asses and work for your country; you know, where you need to get your hands dirty, lifting minimum fifty pound bags of whatever just because it needs to get done. When you are absolutely exhausted, barely can move a muscle and the boss (who is equally as tired) asked you to stay on a few more hours just because the job has to been done on time/budget meanwhile it means missing time with your children; that is how the real world works and always have. That’s life; these new left freeloaders deserve their own island where they need to build there new homes; infrastructure, streets, entertainment; lights, electricity, OMG sending satellites into space for there cell phone service (oh wait they would have to invent cell phone service and television) how foolish of me. Hmm; what about a flushing toilet; enough, the wise ones get it!

Beautiful day today; luckily I actually had a day off; mowed the lawn, cleaned up the place and yes, using propane to BBQ a big honking steak, vegies, to enjoy the warm evening with family. :)

Good blog today Garth!

#55 Flop... on 05.13.19 at 7:27 pm

Geez, I don’t know man!

I take people out for fancy dinners on transit through the downtown eastside…

M44BC

“Visualize What Investing $100 EARLY in Stocks Would Be Worth Today.

There’s a lot of power in being first. And when it comes to Initial Public Offerings, or IPOs, it pays to be one of the earliest investors.

But we wanted to understand how much it would pay, so we ran an experiment. Imagine you could go back in time and invest $100 into a handful of great companies when they first went public. What would your investments be worth today?

Of all the companies we analyzed, Nike is the clear winner. An initial investment of $100 in 1980 would be worth over $6 million today.
Walmart was a better bet than Amazon, topping the online retail giant by over $1 million in total investment growth.
The same investment into Google (Alphabet) when it first went public would be worth only $2,632.

Let’s start with how we crunched the numbers. We wanted to compare apples to apples, so we made a couple key assumptions. First, we assumed our hypothetical investment of $100 at each IPO would stay with the underlying asset for the long term, but any dividends would be taken out as cash and not reinvested. Then, we determined the present-day value of the investment through the ups and downs of stock splits, mergers and acquisitions. You can read more about our sources and methodology here. In short, you put $100 in at the IPO, and let it ride.

The surprising conclusion of our visual is that tech stocks aren’t historically the best IPOs. Nike and Walmart fare much better than Apple and Google (Alphabet). Want another surprise? Buying $100 of Coca Cola would have been a much better investment than Starbucks. But regardless of how things turned out, the overall story in our visual is the enduring value of great American companies over several decades. Even GE, a company that’s suffered its share of setbacks in the last several months, still looks like a great IPO pick after all these years. And although we aren’t excited about Google’s return ($2,632) compared to other companies, that’s still pretty good.

So it pays to be among the earliest investors, but how do you know what to invest in? All these companies initially started as one among many competitors. Some IPOs skyrocket in value only to plummet in the following years. Other IPOs take a long time to get off the ground. We don’t know how to pick the winners, but we’re confident if you bought any of these stocks early on, you’re still happy with your return today.”

Visualization.

https://howmuch.net/articles/investing-100-at-IPO

#56 Shawn Allen on 05.13.19 at 7:30 pm

Trump’s very Clever Lies

Trump repeatedly describes the $500 billion trade loss with China as America’s $500 billion per year loss.

That is scary and plays well with much of the population.

But it is not a loss when willing participants spend billions to buy Chinese stuff. From the point of view of each buyer it is a fair trade. They got what they wanted and paid a price that was lower than alternative suppliers.

If that is a loss then each of us loses money when we buy groceries from a store that buys nothing from us. We each run massive personal trade deficits with almost every business we deal with and we each run a massive trade surplus with our employer. It’s called trade and specialization of labour and is essential to our standards of living today.

But that is logic and math. Trump is on a higher plain using emotion to sway opinion. Emotion and tribal instincts of “us versus them” are usually far more powerful than mere facts and logic.

Trump is a brilliant liar. He has lied and cheated his way to the top of business and into the White house. It is truly remarkable. He truly does have many talents. Lying is one of his best talents.

#57 NoName on 05.13.19 at 7:31 pm

#46 Steve on 05.13.19 at 7:04 pm
Trump must be missing a chromosome.

fu steve!

I have one of those at home so fu again. I am not offended by it, but i dont find it funny, probably everyone with full set of chromosomes shares my opinion.

#58 crowdedelevatorfartz on 05.13.19 at 7:35 pm

@#165 Paul
“get someone that’s good with story telling to help to out…..

******

My ex neighbour was a great story teller.
We were talking about famous people we had met and after all the usual movie stars, politicians, etc.
He said,
“Years ago when I was about 10. My Dad was sick with cancer. It was touch and go.
One day the phone rang and I picked it up.
A very British voice asked, “If my father was home”.
DAAAAAAD TELEPHONE!
Was my neighbour’s reply to the entire house.
His dad picked up on another line and my neighbour went down stairs to play.
About an hour later his dad came down and asked, “Do you have any idea who that was?”
“Nope.”
“Winston Churchill”.
Seems his father was in the foreign service during the war and had spent time working/drinking with Churchill

If you want a story from me….
Alas, it will involve crowded elevators and New Years eve…..

#59 45north on 05.13.19 at 7:36 pm

beneath Trump’s surface is more surface – Garth

pretty funny

#60 Shawn Allen on 05.13.19 at 7:41 pm

I meant to say

Trump repeatedly describes the $500 billion trade deficit with China as America’s $500 billion per year loss.

Also it is correct that America’s trade deficit is a problem. It’s just not a dollar for dollar loss the way Trump describes it.

But he gets the point he wants to make across by exaggerating it greatly. Clever.

#61 AK on 05.13.19 at 7:46 pm

“The biggest reason to vote for the guy next year is the economy. MAGA. Jobs. Wages. ”
=====================================

Trump in a 2020 Landslide. God help us If Bernie or Joe win.

#62 Not 1st on 05.13.19 at 7:48 pm

No Garth now is the time the west fights back against those commies. You should learn a bit more about China. The Borg had nothing on them. And we are done with it. Stay the course trump. We can live without their landfill junk.

#63 AK on 05.13.19 at 7:51 pm

“Financial markets had been pricing in a new US-China trade deal. And for good reason. The tariff war ain’t helping the US one bit. ”
===================================

How long should China be allowed to misbehave and cheat. ?

#64 Flop... on 05.13.19 at 7:53 pm

Some say beneath Trump’s surface is more surface. – Garth

/////////////////////

Close.

I say beneath Trump’s stupid is more stupid…

M44BC

#65 Ace Goodheart on 05.13.19 at 7:54 pm

SPDR’s on sale. Buying more tomorrow.

The mighty DOW is not to be missed when it’s down.

Talking about profitless tech companies, the two grandaddies of never ever earning money are of course Netflix and Tesla.

Add to that now Uber, Lyft, Pinterest. The list goes on.

But yeah, a hundred billion for Uber is completely new territory for stupidity.

The people who run it have even admitted they don’t believe it will ever make money.

#66 acdel on 05.13.19 at 7:55 pm

#46 Steve

Huh?

What are your alternatives!! I am not mocking you; I am just curious to hear what your alternatives are; costs to tax payers; how will your ideas make a difference? I am asking you to (inform all posters) on how your ideas would make life on this planet so much better; thank you! Great ideas make all of us move forward!

#67 Re, Ed Tachem on 05.13.19 at 7:55 pm

DELETED

#68 akashic record on 05.13.19 at 7:57 pm

#46 Steve on 05.13.19 at 7:04 pm

Trump must be missing a chromosome.


Probably. He managed a pretty good score with what he had to work with, though.

#69 The Totally Unbiased, Highly Intelligent, Rational Observer on 05.13.19 at 7:57 pm

“The biggest reason to vote for the guy [The Donald] next year is the economy. MAGA. Jobs. Wages. Opportunity. Not recession, unemployment and loss. So, relax.”–GT

Yes, Garth, I totally agree with you.

People would have to have some sort of financial death wish to vote for the Demonrats and their recession, unemployment, and loss. And I won’t even mention their gross incompetence, endless slander, trouble making, treason, and numerous other abominations.

The truly wonderful thing about The Great American President Donald J. Trump is that he is so HEAVENLY BLESSED and WORLDLY WISE that nothing can beat him.

In the end, the Chinese might erect statues of President Trump in all their cities and towns so everyone can see what a real man looks like, and dress better, and think better.

#70 Sail away on 05.13.19 at 7:59 pm

#23 Big Bucks on 05.13.19 at 6:00 pm

Buying any 1 stock is stupid–I remember when some took on 2nd mortgages to buy Nortel.

——————————————-

Well, yes, if you choose to buy one stock and one stock only. That’s just gambling.

On the other hand, my WestJet stock just increased by 60% today as it’s being taken private by Onex. This was a nice gift on a down market day.

#71 yorkville renter on 05.13.19 at 7:59 pm

hey #19 – I own commercial real estate that earns income each year. I now rent where I live because that’s the smart move.

Nothing was handed to me – I started life after school owing $50k (20 years ago)… daddy didnt gift $440+ million to me and I certainly haven’t lied about my wealth, lost money on casinos, been bankrupt numerous times, been forced to close a charity, sued for fraud or act like a terrible human being.

Over a decade ago I had a client tell me about Trump stiffing vendors (it was their friend who does commercial carpets) – he’s been a fraud his whole life

But, keep Trump on your altar. We’ll see gow that goes.

#72 yorkville renter on 05.13.19 at 8:05 pm

#34 – Your talking points are hopelessly uninformed.

I bet you think the Mueller report ‘totally exonerates’ Trump too.

Like Trump said, he loves the uneducated

#73 JR on 05.13.19 at 8:05 pm

Bitcoin back to 8k USD.
Garth will probably come out with a hate article shortly but let’s be honest it’s the new digital gold and BTC is king.

#74 conan on 05.13.19 at 8:12 pm

The Iran situation is scary as well. The goal of zero oil exports is basically declaring war.
It’s just starting there and I expect it to heat up dramatically.

Oil should rocket but other areas of the economy will suffer.

#75 AK on 05.13.19 at 8:21 pm

#72 yorkville renter on 05.13.19 at 8:05 pm

“I bet you think the Mueller report ‘totally exonerates’ Trump too.”
===================================

You need to take care of your TDS (Trump Derangement Syndrome)

Watching less CNN and MSNBC will be a good start.

#76 Gogo on 05.13.19 at 8:26 pm

Trump is doing the right thing. Unfortunately, very bad execution. If the chinese are smart enough, they can win.

#77 Putin's Doll on 05.13.19 at 8:27 pm

#59 45north on 05.13.19 at 7:36 pm
beneath Trump’s surface is more surface – Garth

pretty funny

Putin’s russian toy doll…

#78 young & foolish on 05.13.19 at 8:29 pm

Wow. That old? – Garth

I detect ageism on this blog ….. against the young!

#79 Dave on 05.13.19 at 8:32 pm

The trade war with China has been long overdue. China has been stealing intellectual property and has never truly opened their domestic economy to foreign companies.

Tariffs hurt everyone, but China is not playing fair so it’s a strong lever to pull-on. Trump knows what he’s doing…he has a black belt in negotiating.

#80 ImGonnaBeSick on 05.13.19 at 9:03 pm

#46 Steve on 05.13.19 at 7:04 pm

Trump must be missing a chromosome
———————-

Maybe you just have an extra one…

#81 DON on 05.13.19 at 9:04 pm

#8 Dolce Vita on 05.13.19 at 4:54 pm

It’s always been a long game.

Short game is that Trump’s running out of time with China and he and they know it…he’ll cook up some face saving excuse to kiss and make up with them soon enough. I agree with you Garth.

************
Xi is a dictator has time on his hands, no looming election.

Instead of giving in, Trump can LOBBY the Federal Reserve to cut interest rates and goose the markets. But then again the Fed would have to concede, but they might if the economy is on the rails, depends how low they play this game.

At some point (like you said) Trump will declare a win/win with a tweet, ‘that he actually came out on top’.

It’s like watching a Hollywood movie…in real life.

#82 TRUMPTURDS on 05.13.19 at 9:04 pm

TRUMP puppet of bibi, mbs, putin= MAGA
trumpturds of america

#83 tccontrarian on 05.13.19 at 9:08 pm

“Is it another buying opportunity, like last Christmas when the steerage section of this pathetic blog was awash in tears and blood? Maybe. Perhaps not. The best possible strategy is just to ignore it all, stay invested and understand this is more noise.”
///

Garth, you have (unknowingly) helped my decision-making process, and hence my profits. Whenever you talk in a bullish tone, I’m inclined to open short positions; whenever you talk about ‘tears and blood’, I’m inclined to cover them.

Let’s see what happens the rest of the week. If past is prologue, I expect an energetic bounce by mid-week, probalby triggerred by a Trump tweet of something positive (yet, practically meaningless).

Unlike your 10 commandments, I still believe that TIMING IS EVERYTHING!
And speculation has it’s place, if used appropriately with ‘spare change’ (haven’t you ever bought a lottery ticket?)

Or even like 3-point shooting in basketball – only ‘worth’ doing it if the percentages warrant it (by having a S. Currie on your team).

I’m (naturally) biased in saying this because it is my ‘speculative’ portfolio that has shined over the last couple years (>300% gain). And this mostly because of the unique opportunity presented by the legalization of cannabis – so, not always a sustainable practice.

TCC

#84 Hodgetown on 05.13.19 at 9:16 pm

Garth, what about bitcoin..doubled off its lows and not even a mention?

I don’t do LottoMax reports either. – Garth

#85 acdel on 05.13.19 at 9:19 pm

#82 TRUMPTURDS

What?? Whether one is a believer of Trump or not; what are your alternatives; ideas? Or is that too much to ask for all of us posters or the host? People like you add no credit to Garth’s Blog. Here is a guy providing a free blog to you; respect it!

#86 Shawn on 05.13.19 at 9:31 pm

The trade war is a non issue. There is no inflation. The FED is going to to follow the bond market and cut rates.

#87 Al on 05.13.19 at 9:45 pm

That 10-3 yield curve keeps inverting, think it’s the third time this year, check back in a couple of years to see if it was different this time.

#88 Smoking Man on 05.13.19 at 9:48 pm

Burr hires a prosecutor to look into the origins of the Russia probe the fake documents that started the spying.

The shit show is starting. Wondering how many are going jail.

#89 acdel on 05.13.19 at 10:00 pm

I don’t do LottoMax reports either. – Garth

lol, how about 6/49? :)

#90 Ponzius Pilatus on 05.13.19 at 10:11 pm

#173 IHCTD9 on 05.13.19 at 12:45 pm
#163 Ponzius Pilatus on 05.13.19 at 11:36 am

What warning signs?
____

Just ask those here on the blog who lived (and escaped) it first hand.

#163 Ponzius Pilatus on 05.13.19 at 11:36 am

…And we can thank Reagan for that. And Thatcher, too.
___

Very well: Thank you Reagan and Thatcher (very much) for providing choice, competition, and low prices.
————-
What they gave us is “build in obsolescence”, crappy products made in China that break down right after the warranty expires.
And, of course, DOLLARAMA!

#91 Deplorable lawyers on 05.13.19 at 10:16 pm

#88 Smoking Man on 05.13.19 at 9:48 pm

Burr hires a prosecutor to look into the origins of the Russia probe the fake documents that started the spying.

The shit show is starting. Wondering how many are going jail.
..

The cells are already filled wih the trumpster’s lawyers……….

#92 akashic record on 05.13.19 at 10:19 pm

I don’t do LottoMax reports either. – Garth

outsourced to flop and he is using Chinese tech

#93 Doug in Londinium on 05.13.19 at 10:20 pm

So what exactly does IPO stand for? It’s probably overpriced.

#94 akashic record on 05.13.19 at 10:23 pm

#91 Deplorable lawyers on 05.13.19 at 10:16 pm

#88 Smoking Man on 05.13.19 at 9:48 pm

Burr hires a prosecutor to look into the origins of the Russia probe the fake documents that started the spying.

The shit show is starting. Wondering how many are going jail.
..

The cells are already filled wih the trumpster’s lawyers……….

Causing great sadness and despair, because the dems over promised and under delivered again… Trump may just be the only prez who won the presidency 3 times

#95 not 1st on 05.13.19 at 10:32 pm

Let me provide some perspective.

Imports to US from china comprise a meager 2.7% of US GDP. US exports to china comprise 0.9% of US GDP. China simply doesn’t factor in. On the other hand, a full 20% of chinas GDP is based on exports to the US. They are dependent on rich young consumers for their throw away junk. And the US is the only market on the planet that can absorb that consumption.

Now lets talk tariffs. Tariffs are just like a carbon tax. Make a product more expensive so people look for alternatives. Changes behavior. Other countries will then start to fill the gap with cheaper non tariffed goods. And if tariffs get high enough, someone in the US will start making the product locally again. The tariffs aren’t targeting Chinese companies, they are targeting US companies who sold their soul and moved production overseas to sell back home. Like Apple, Nike etc. This is their warning shot. Either repatriate back home or be shut out of their home market.

China can go pound sand and build their colonial network through 3rd world countries. Good luck with that. They can cancel Boeing orders. Good luck with that too. They have no ammo. The trade ratio is 6:1. Do your worst Xi. lets see how a little old fashioned western style recession sits with your dictatorship.

#96 AK on 05.13.19 at 10:42 pm

#88 Smoking Man on 05.13.19 at 9:48 pm
“Burr hires a prosecutor to look into the origins of the Russia probe the fake documents that started the spying.
The shit show is starting. Wondering how many are going jail.”
=====================================

Comey is first in line.

#97 Flop... on 05.13.19 at 10:57 pm

Last year a house in Marpole on the Westside sold for 1.4 million and was the lowest one I saw go on the way back down the mountain on the Westside.

I said at the time we might see something go for 1.25 on the Westside in 2019.

This one just sold for 1.16 to set the limbo bar on the way back down…

M44BC

https://www.zolo.ca/vancouver-real-estate/849-west-67th-avenue

#98 Ronaldo on 05.13.19 at 11:38 pm

#88 Smoking Man on 05.13.19 at 9:48 pm
Burr hires a prosecutor to look into the origins of the Russia probe the fake documents that started the spying.

The shit show is starting. Wondering how many are going jail.
——————————————————————-
It’s Barr, not Burr. You must be thinking of Perry Mason. And yes, there will be a few more heading for the calaboose.

#99 Unapologetic Fan on 05.13.19 at 11:55 pm

This paragraph below will prove Grath is a prophet !!
Every word should be read with reverence and conviction for time will prove that it is true.

“Well, word is the Chinese think they’re winning now. When Trump whined about the Fed and said he wanted more stimulus and a rate cut, that was taken as a sign the American economy needs gas to avoid a recession. Then North Korea fired a missile, proving the US had no influence on Kim. Iran is a big, ugly, dangerous distraction. Pompeo and Bolton look like two nutjobs in search of a war. So, Beijing figures, recession and turmoil might be closer than anticipated in the States. Why give in to the bully?”

#100 Ponzius Pilatus on 05.14.19 at 12:02 am

#11 Lost…but not leased on 05.13.19 at 5:20 pm
WestJet to be sold in $5B deal

https://www.cbc.ca/news/canada/calgary/westjet-sold-five-billion-private-company-1.5133465

==========================

Let the dust settle….but I suspect the parts sold off will be worth more than the Westjet intact.
———–
Completely agree.
The planes that they are after.
Except the 737 max8, of course.
Took the Westjet Hawaii package 1 month ago.
Worst experience, ever.
Never fly this piece of shit airline again.

#101 yorkville renter on 05.14.19 at 12:22 am

#75 – I know, reading comprehension is hard for some. Try reading the report for yourself and think independently.

TDS – that’s cute; Im sure you didn’t come up with that one.

The sad thing is Trump is right- he could shoot people on Fifth avenue and his supporters would still call him dear leader

#102 Expat in PPC on 05.14.19 at 12:23 am

I hate to see my portfolio nosedive from these trade disputes (good buying opportunity though). But I do praise Trump for taking a hard stance with China. It’s not about money its about power, and life would be drastically different with China in power over the US.
Trust me, I live in China. The average North American hasn’t the faintest clue the danger China poses to the free world.

#103 Fortune500 on 05.14.19 at 12:45 am

I think I will print that last part on a poster and slap it on my wall. With your permission of course …

Words to remember.

On takes like yesterday I like to listen to Charlie Munger here on repeat https://www.youtube.com/watch?v=PbOzfJK-XYk

#104 El Presidente on 05.14.19 at 12:57 am

#56 Shawn Allen on 05.13.19 at 7:30 pm

Trump’s very Clever Lies

Trump repeatedly describes the $500 billion trade loss with China as America’s $500 billion per year loss.

That is scary and plays well with much of the population.

But it is not a loss when willing participants spend billions to buy Chinese stuff. From the point of view of each buyer it is a fair trade. They got what they wanted and paid a price that was lower than alternative suppliers.

If that is a loss then each of us loses money when we buy groceries from a store that buys nothing from us. We each run massive personal trade deficits with almost every business we deal with and we each run a massive trade surplus with our employer. It’s called trade and specialization of labour and is essential to our standards of living today.

But that is logic and math. Trump is on a higher plain using emotion to sway opinion. Emotion and tribal instincts of “us versus them” are usually far more powerful than mere facts and logic.

Trump is a brilliant liar. He has lied and cheated his way to the top of business and into the White house. It is truly remarkable. He truly does have many talents. Lying is one of his best talents.

He lies constantly about everything constantly…and then lies about lying…. it’s not a lie if you believe it… He actually believes Melania thinks he’s a hot stud.

Yet he is trying to do basically what he said he would do…. now compared to the run of the mill lying politician this is quite refreshing!

But if he tries to take away peoples cheap crap… look out!

#105 acdel on 05.14.19 at 1:13 am

#90 Ponzius Pilatus

Although I am for free market but the ideal of it has been lost. Never thought that I would say this, but I agree with what Trump is doing; China has built an empire with our money and especially with us being so gullible. We trusted and have not quite lost the upper hand but have got our asses kicked (why this was allowed to happen is the question).

This whole trading system is a farce where people have to pay/sacrifice, lost millions of jobs, buy cheaper junk, follow environmental factious hypocrotic morons; to only be told that it is making the world a better place where in fact most goes to offshore accounts and build armies to kill one another. Millions are starving to build a nuclear bomb directed at us and yet we provided them with the money to do so.

Many could say that is how it has always been but in today’s times it means a whole different paradox.We are suppose to be smarter then that.

The sad part is that there is almost 8 billion of us living on this tiny blue speck which could have a life of true abundance if we only eliminated politics and extreme religion; meaning that we should figure it out and respect; but look beyond that; work towards a collective that moves people/us forward minus the leftist so called ideological fear mongering ways.

Ideas (provocative or not) should be debated. Correct me if I am wrong but my belief is that we are being held back by today’s politics and especially news media.

Ideas anyone; last time I asked the same question probably a few years back I received not a single response; which is fine.

My question; how do we move forward with new ideas??

There are only a few thousands maybe tens of thousands controlling almost 8 billion; it is becoming a lost cause. Panic (by them)may occur and new wars may start in the last ditch effort to control of the population is the ultimate goal.

Any thoughts to all that are so worn down by them?????????

I may be way off; love to hear other constructive ideas out there; thanks.

#106 Canada=Poor cousin of rich U.S on 05.14.19 at 1:45 am

Canadians are cheap. They dont tip big.

#107 Retired in B.C. somewhere on 05.14.19 at 1:54 am

On the topic of “is buying CHEAP always an OPPORTUNITY?”

Depends what it is.

If the real estate “First-time-Buyer-CMHC” co-ownership starts for real, in September, and the maximum R/E purchase has to be below $480k,

think twice, before you buy an older condo made in 1960 – 1980’s because it’s all you can afford. “Affordable condo” equals “low price”. However “low price” can also equal “low quality”.

After 25 years of paying mortgage, your condo will be 75+ years old. What will the value of it be by then?

You will have paid double the Purchase Price, with all the Interest Payments, if not more. Do you think a future Developer will buy your old building and land in the future, for new re-development?

Do you think the R/E Market will just go back up to another new Peak, so you can flip it, and make 50%? Give due consideration.

$480k is basically, HALF-A-MILLION-DOLLARS

#108 The Great Gordonski on 05.14.19 at 6:45 am

Ban imports from China and halt all interaction period. No travel, no nothing. A few dollar stores go belly up so what? I’m sure India or Vietnam would rush to fill the gap. China is the bully not Trump, Trump is doing what Obama didn’t have the balls to do. Go Trump.

China would fold like a cheap shirt in weeks if we closed the door. Why should we beggar our own just to build the Chinese economy? Send Trudeau to negotiate, and cancel his passport whiles he’s gone. What a fantastic opportunity to accomplish two things, pin China’s arms behind it’s back and buy stocks cheap.

Look, we’re already seeing the coup of the far left against the Canadian economy. Foreign investment has cratered. When credit debt peaks the fraud will be torn open like a puss filled scab.

Canada us running on fumes. By year’s end regardless of election results the CAD will crater to 50 cents because no one outside Canada is needing or wanting to buy our currency for business that doesn’t exist. If Trudeau wins a second term I’ve heard people who say they’ll just throw it in, quit and shutter.

In Vancouver last week I heard many drawing up plans to toss their Canadian passports (these are rich new immigrants) and move to the US. A frustrated family across the street from me was doing just that. “No money”, he said. Immigrants are leaving in droves , along with manufacturers, miners, energy Giants, engineers and every other group.

I’ve seen countries fail before. Canada has a death rattle like Argentina, Brazil, Australia, Spain, Greece, it’s not good. Ask yourself, where’s the money going to come from when Canadians are broke and the only people coming in need a decade of social assistance before they churn dollar one?

Loonie at 50 cents by Christmas? Care to wager on that? – Garth

#109 Ace Goodheart on 05.14.19 at 6:57 am

RE: #104 El Presidente on 05.14.19 at 12:57 am:

“But if he tries to take away peoples cheap crap… look out!”

Most Americans have no idea how much stuff would actually cost if they produced it themselves.

A Chinese made kitchen appliance, bought for $35.00 at their local Costco, would cost about $1000.00 if it was Union Made in the USA.

Chinese made children’s clothing, which is almost free at Walmart, would be the same price as stuff bought at high end luxury stores.

Shoes, jackets, computers, cell phones, the list goes on. All the cheap junk that Americans surround themselves with, is made in China, by virtual slave labour that is paid a few US dollars per week usually.

Bring all those jobs home, set up Union shops and pay everyone $45.00 per hour + benefits and pensions, and wait until they see how much a pair of socks will cost.

They have absolutely no idea…….

#110 Gravy Train on 05.14.19 at 7:20 am

#94 akashic record on 05.13.19 at 10:23 pm
“Causing great sadness and despair, because the dems overpromised and underdelivered again…”. What are you babbling about? :)

“Trump may just be the only prez who won the presidency 3 times” Let’s unpack all the ignorance in your short sentence, shall we?
• FDR won a record four presidential elections (March 4, 1933 to April 12, 1945).
• The Twenty-Second Amendment to the U.S. Constitution prohibits any individual from being elected more than twice (ratified February 27, 1951).
• It assumes Trump will win a second term, won’t be impeached, and won’t be indicted once he leaves office.
:P

#111 Amber Alerts Ruined My Sleep! on 05.14.19 at 7:29 am

This is crazy. Finished my shift after midnight, them woken up by 20 amber alerts early this morning about something happening in Sudbury, five hours away from me!

Nuts. Thanks for nothing all you SJW Commies and libtards who created this system.

Send a letter to the Premier, everyone. Dougie will stop this nonsense.

Leave policing to the cops, I say.

I wonder how many heart attacks and car crashes will happen today because of thousands of people getting woken up repeatedly by amber alerts, now fatigued and distracted or suffering high blood pressure?

Does not make sense at all.

#112 Captain Uppa on 05.14.19 at 7:48 am

I listened to “Teenage Dirtbag” by Wheatus during my morning commute today.

Not the greatest song, but boy oh boy did it make me smile. Reminded me of a much simpler time in our world.

#113 ImGonnaBeSick on 05.14.19 at 7:56 am

#110 Amber Alerts Ruined My Sleep! on 05.14.19 at 7:29 am

————

I’m going to assume this is an attempt at satire. If not, you’re the scum of the earth.

#114 Tater on 05.14.19 at 7:57 am

#2 Stan Brooks on 05.13.19 at 4:20 pm
Uber is an example of a current and future global disruptor.

Maybe now is good time to buy.

Look at bitcoin and gold. Doing much better than the Poloz’s peso lately.
Despite the bashing.

Contrarians and mainstream are mutual exclusive.
—————————————————————–
Of course 8% inflation man likes Uber! When you’re innumerate best to go all the way.

Uber is a broken business. No switching costs for drivers or users, it’s survived based on a price advantage that has been subsidized by VC capital that is now gone.

Their big move is a pivot to a robotaxi model, where instead of being an app provider (low capital costs and great scale-ability), they’ll need to become a capital intensive transport company. How will they raise money for that? Certainly not coming from operations, so will it be debt or equity? Do you want to be diluted away? Or end up owning an airline? 4 million Uber drivers as of today. Replacing them all will take just $200 billion at 50k per robotaxi. Which, of course, doesn’t exist yet.

Gold? Oh Stan. For the last 20 years, Gold in CAD has returned 8% annually. The S&P 500 has been 15%. Oooof. 10 k in gold in 99 is now worth 47k and in the S&P it would be 164k. Don’t let your kids see that or they’ll have you declared non compos mentis!

So, dead wrong on inflation, Uber and gold. And we should listen to you on bitcoin? Hard pass.

#115 Tater on 05.14.19 at 8:01 am

#14 young & foolish on 05.13.19 at 5:35 pm
I remember when Facebook IPOed …. and Netfix ….

Anyway, invest and prosper …. the market always goes up (eventually)

Wow. That old? – Garth
————————————————————–
Tell that to investors in Pets.com, JDS Uniphase, Nortel, Webvan etc

#116 Gravy Train on 05.14.19 at 8:09 am

#101 yorkville renter on 05.14.19 at 12:22 am
“The sad thing is Trump is right—he could shoot people on Fifth avenue and his supporters would still call him dear leader.” His supporters would also line up to be the ones shot! :P

#117 AK on 05.14.19 at 8:18 am

#108 The Great Gordonski on 05.14.19 at 6:45 am

“Canada is running on fumes. By year’s end regardless of election results the CAD will crater to 50 cents”

“Loonie at 50 cents by Christmas? Care to wager on that?” – Garth
====================================

I would have agreed with you. But since the Liberals will be getting the boot in October, Canada will once again open for Business. So, it’s not happening.

#118 crowdedelevatorfartz on 05.14.19 at 8:21 am

@#97 Flop
“This one just sold for 1.16 to set the limbo bar on the way back down…”

+++++
I wonder how many “For sale” ( err sorry, I should have correctly stated ‘Open House”) signs realtors had to hammer in to the ground in the surrounding blocks to get a few greaterfools wandering in….
5 ? maybe 10 max?

Hardest part of a realtors day but I’m sure that “well deserved” commission was well worth it.

But the rest of the market…..crickets.

#119 jess on 05.14.19 at 8:24 am

sim swappers – what you can do

…”According to indictments unsealed this week, Tucson, Ariz. resident Ahmad Wagaafe Hared and Matthew Gene Ditman of Las Vegas were part of a group that specialized in tricking or bribing representatives at the major wireless providers into giving them control over phone numbers belonging to people they later targeted for extortion and theft.

Investigators allege that between October 2016 and May 2018, Hared and Ditman grew proficient at SIM swapping, a complex form of mobile phone fraud…

https://krebsonsecurity.com/2019/02/more-alleged-sim-swappers-face-justice/

https://www.vice.com/en_us/article/gyaqnb/hacker-joel-ortiz-sim-swapping-10-years-in-prison

…”July 2018, Ferri was traveling in Europe when he discovered his T-Mobile phone no longer had service. He’d later learn that thieves had abused access to T-Mobile’s customer database to deactivate the SIM card in his phone and to activate a new one that they had in their own mobile device. read more @
https://krebsonsecurity.com/2018/11/busting-sim-swappers-and-sim-swap-myths/

#120 Tater on 05.14.19 at 8:28 am

#108 The Great Gordonski on 05.14.19 at 6:45 am
Ban imports from China and halt all interaction period. No travel, no nothing. A few dollar stores go belly up so what? I’m sure India or Vietnam would rush to fill the gap. China is the bully not Trump, Trump is doing what Obama didn’t have the balls to do. Go Trump.

China would fold like a cheap shirt in weeks if we closed the door. Why should we beggar our own just to build the Chinese economy? Send Trudeau to negotiate, and cancel his passport whiles he’s gone. What a fantastic opportunity to accomplish two things, pin China’s arms behind it’s back and buy stocks cheap.

Look, we’re already seeing the coup of the far left against the Canadian economy. Foreign investment has cratered. When credit debt peaks the fraud will be torn open like a puss filled scab.

Canada us running on fumes. By year’s end regardless of election results the CAD will crater to 50 cents because no one outside Canada is needing or wanting to buy our currency for business that doesn’t exist. If Trudeau wins a second term I’ve heard people who say they’ll just throw it in, quit and shutter.

In Vancouver last week I heard many drawing up plans to toss their Canadian passports (these are rich new immigrants) and move to the US. A frustrated family across the street from me was doing just that. “No money”, he said. Immigrants are leaving in droves , along with manufacturers, miners, energy Giants, engineers and every other group.

I’ve seen countries fail before. Canada has a death rattle like Argentina, Brazil, Australia, Spain, Greece, it’s not good. Ask yourself, where’s the money going to come from when Canadians are broke and the only people coming in need a decade of social assistance before they churn dollar one?

—————————————————————–

Well, you should be loading up on the USX calls on the Montreal exchange if you actually believe that. Under $40 per contract with a 160x payoff if you’re right. That’s a once in a lifetime opportunity.

Of course, we all know you aren’t actually putting your money where your mouth is.

#121 akashic record on 05.14.19 at 8:41 am

#110 Gravy Train

Waking up with your left foot?

Let the shine on you and bring some smile on your face… 1…2…3… :P

https://www.youtube.com/watch?v=uR07OtEhKPE&feature=youtu.be

https://www.youtube.com/watch?v=TtqWezfIhMY

#122 Headhunter on 05.14.19 at 8:48 am

Turner Nation
Uber…like Tesla is a de facto deep state scam to bilk taxpayers.
Prove me wrong. Tesla getting billions in Taxpayer handouts. (The new Peoples’ Car ja)
Space X, would they really let a civillian launch metal into the most controlled and weaponized part of our world (space)?

_____________________________________

Winner winner chicken dinner.. same with Amazon.. good to see that “your lights are on” mate!

#123 NoName on 05.14.19 at 8:58 am

There is new uber/lyft type company company launched in Quebec just last week, i was reading about it last night.
Here are other few ride sharing/hailing companies that already are operating in Canada.

https://commercialdriverhq.com/rideshare-companies-canada/

#124 The Great Gordonski on 05.14.19 at 9:17 am

#108 ‘wager on that’.

– I’m thinking this… into the 60’s you don’t delete a single provable comment I make for a year…. if I’m wrong I give you free stock picks. Frankly I think 60’s is investible as is, a second Trudeau mandate all bets are off, the CAD dies…. 50’s is a reasonable target.

I have a 92.6% batting average…. considerably higher returns than your 6%. What have you got to lose?

#125 When Stock Markets Go Down – RV Castaways on 05.14.19 at 9:28 am

[…] keep the following rules of investing handy. They came to me from a particularly insightful Canadian investor. To my American friends, I am certain that these rules of investing would also apply to […]

#126 dharma bum on 05.14.19 at 9:33 am

EXCLUSIVE REPORT!

Trumps elaborates, in great detail, his trade deal plans with China:

https://www.youtube.com/watch?v=RDrfE9I8_hs

#127 Dups on 05.14.19 at 9:50 am

As usual markets are making noise. Mr. Market is there to serve us not to scare us. Unless the whole world is going to crap, bring it on Mr. Market, no smart one is selling on your fear!

#128 IHCTD9 on 05.14.19 at 10:26 am

#90 Ponzius Pilatus on 05.13.19 at 10:11 pm
#173 IHCTD9 on 05.13.19 at 12:45 pm
#163 Ponzius Pilatus on 05.13.19 at 11:36 am

What warning signs?
____

Just ask those here on the blog who lived (and escaped) it first hand.

#163 Ponzius Pilatus on 05.13.19 at 11:36 am

…And we can thank Reagan for that. And Thatcher, too.
___

Very well: Thank you Reagan and Thatcher (very much) for providing choice, competition, and low prices.
————-
What they gave us is “build in obsolescence”, crappy products made in China that break down right after the warranty expires.
And, of course, DOLLARAMA!
____

Yes they did, and if you can’t afford high quality products from Countries like the USA, Sweden, Japan, Germany, etc… (that they also gave us), then these cheap Chinese products are available these days for you.

We are spoiled for choice, we can spend anywhere from 5.00 to 100.00 on something as menial as a hammer.

I would not buy something like a car or atv that was designed and built in China. I’ll pay more to get something from Japan. If I want a great chainsaw, I’ll pay more to get something from Sweden. If I want a great piece of heavy equipment, I’ll pay more to get something from the USA. All these are available stock right off the shelf here in Canada.

Would I pay 350.00 for a made in the USA apple peeling machine? No, a 30.00 Chinese one is good enough for the maybe 10 pies I bake in a year. A Hammer? 5.00 Chinese one is fine for my occasional use. All the cheap stuff is also stock right off the shelf here in Canada.

See how this works? You’ve got it all right at your fingertips. No one is forcing you at gunpoint into Dollarama.

#129 MF on 05.14.19 at 10:27 am

108 The Great Gordonski on 05.14.19 at 6:45 am

Oh look another miserable and delusional BCer.

Yawn.

MF

#130 Remembrancer on 05.14.19 at 10:28 am

#123 NoName on 05.14.19 at 8:58 am
There is new uber/lyft type company company launched in Quebec just last week, i was reading about it last night.
Here are other few ride sharing/hailing companies that already are operating in Canada.

https://commercialdriverhq.com/rideshare-companies-canada/
————————————–
Exactly, Uber has early to market brand recognition but also a bunch of industry startup baggage (drivers assaulting passengers, taxi lobby dust ups etc) and now fist loads of IPO cash but maybe no real secret sauce to keep from being copied as a ride scheduler / dispatcher. Are they smarter self-driving conveyance purveyors or something else? Perhaps, but are you smart enough to figure out what that will be and deep enough pockets for the ride? Or is this Pets.com 2.0?

#131 paul on 05.14.19 at 10:29 am

113 ImGonnaBeSick on 05.14.19 at 7:56 am

#110 Amber Alerts Ruined My Sleep! on 05.14.19 at 7:29 am

————

I’m going to assume this is an attempt at satire. If not, you’re the scum of the earth.
———–
That’s the nice, maybe you should look in the mirror.

#132 MF on 05.14.19 at 10:30 am

24 The Great Gordonski on 05.14.19

Wow 92%?

Sure beats the socks off of losers like Warren Buffet.

MF

#133 JKG on 05.14.19 at 10:33 am

#153 IHCTD9 on 05.13.19 at 9:50 am
#24 Joe Vancouver on 05.12.19 at 5:19 pm

“Escaped Communism from Eastern Europe 30 years ago. The mindset of Canadians is becoming quite concerning.You are not the first Communism escapee to have voiced this concern about Canadians on this blog.
Scary stuff indeed.”

The economic ignorance on this blog is staggering. Blog dogs who have been living in a Keynesian society for 70 plus years, don’t even realize it and think they are living in a communist regime. Blog dogs who confuse a mixed market economy with a communist economy. Blog dogs who couldn’t tell you the difference between classical economics and Keynesian economics if their lives depended on it. Not all of course. There are blog dogs here who know the difference. The others, sigh….

#134 mike from mtl on 05.14.19 at 10:48 am

#109 Ace Goodheart on 05.14.19 at 6:57 am
……….
Bring all those jobs home, set up Union shops and pay everyone $45.00 per hour + benefits and pensions, and wait until they see how much a pair of socks will cost.

They have absolutely no idea…….
//////////////////////////////////////////////////////////////////

Exactly.

Dummies yearning for the return of good times 50s seem to not remember that every man-made contrivance was friggin expensive. Home appliances, tools, shoes, clothes was not some hedonistic accessory.

The reason we used to ‘fix’ everything, even clothing was not because it was a hobby or fun; because it was simply unaffordable to replace, not at all like today.

#135 Shawn Allen on 05.14.19 at 10:53 am

Will Tariffs on China hurt the U.S. ?

#95 not 1st on 05.13.19 at 10:32 pm thinks not and said:
Let me provide some perspective.

Imports to US from china comprise a meager 2.7% of US GDP. US exports to china comprise 0.9% of US GDP. China simply doesn’t factor in. On the other hand, a full 20% of chinas GDP is based on exports to the US.

*********************************
That is good logic but the facts are wrong.

If U.S. imports are only 2.7% of U.S. GDP and yet those same items as exports are 20% of China’s GDP then the U.S. GDP must be (20/2.7) = 7.4 times larger than China’s.

But that is not the case. U.S. GDP is about $21.5 trillion. China is second in the world at $14.2 trillion.

On that basis, the trade is indeed somewhat more important to China but only moderately so. Both most Chinese and most Americans benefit enormously from the trade.

But again, what are mere facts and logic in the face of emotion? Trump has emotion on his side.

#136 Shawn Allen on 05.14.19 at 10:57 am

The world’s largest economies by GDP 2019

https://www.focus-economics.com/blog/the-largest-economies-in-the-world

#137 That's All, She Wrote on 05.14.19 at 10:59 am

So I’m trying to understand the worldview of somebody who
a) Thinks BC’s desire to know who owns its real estate, and to give locals a leg up over people from elsewhere is a step down the road to serfdom, communism or worse
and,
b) thinks more trade with China, a place with a recently installed emperor-for-as-long-as-I-want who’s purged all his enemies, built up his navy, has expansionist territorial ambitions and a Manichean, totalitarian worldview, who’s declared a few million of his subjects to be third class citizens and interred somewhere around a million of them in concentration camps, and who’s setting up a vast spying and social control apparatus for the rest, AND is exporting that apparatus to other totalitarian countries, and is infiltrating and influencing thought and debate in western universities, including here — yes, who thinks more trade with THAT is a good thing?

I mean, first instinct would be that someone who holds both of those views simultaneously just has MAMMON IS THE ONLY GOD tattooed on his forehead, but maybe I’m missing some of the subtleties?

Ih the 80’s, we did not have people who simultaneously railed against Mulroney’s GST as a tool of the coming communist state, yet advocated selling ring laser gyros and semiconductor technology to the Soviets. I know — I was there.

Look, Nixon went to China in ’72 to get a little détente, and Clinton let them accede to the WTO in 2001, on the theory that they’d become less totalitarian. Failed experiment — just ask HK, Tibet, Taiwan or the Uigurs.

So who still wants to help the Chinese Communist Party, and is afraid of a little land registry sunshine in Canada. Serious question, because I’m having real trouble imagining a non-ridiculous coherent worldview that fits. Ideas, responses welcome and encouraged. Anyone?

#138 Robert Ash on 05.14.19 at 11:54 am

In Canada today, would any of the Blog folks, here today write a check, to any of our National Leaders, to start a Business… Would you even consider this… if Sheer, or Singh, or Trudeau had a Business Plan… for even a common place service, product, or Franchise… would you give it consideration. Would you have confidence and hand over your hard earned savings, to any of them… if they were in the Private Sector..Enough said…

#139 Lost...but not leased on 05.14.19 at 12:36 pm

#49 Re-Cowtown on 05.13.19 at 7:09 pm

Tesla isn’t really a car company. It’s a tax-sucking financial venture that needs to build some stuff to keep the con going. Remove Tesla’s CO2 credit resale scheme and it’s electric car credits and it’s just another black hole that burns cash.

=======================

Well said…always follow the money.

Many large corporations use NGO’s to frustrate Canadian pipelines, whilst concurrently having invested heavily in solar and wind power with gov’t guaranteeing their return.

#140 IHCTD9 on 05.14.19 at 12:41 pm

#109 Ace Goodheart on 05.14.19 at 6:57 am

…Bring all those jobs home, set up Union shops and pay everyone $45.00 per hour + benefits and pensions, and wait until they see how much a pair of socks will cost.

They have absolutely no idea…….
____

Yep – and I’d add Canadians to the list too. A 35 year old and younger probably won’t remember back when a decent ratchet set costs 100.00 in the mid 80’s. Today, a set 2X the size goes on sale for 89.99 (in today’s dollars to boot).

In the late 80’s I built my own air compressor and saved a pile of cash. Today I wouldn’t even dream of it in the era of Kijiji/Ebay piped into every house, automation, and global manufacturing where folks across the pond work for us at 1.00/hr.

It’s the new norm now. Buy it for nothing at Walmart, toss it when it breaks. Ms. IH brought home a pair of jeans for me to try on a few months back. They were on sale for 10 bucks – I just laughed, it’s absurd.

#141 fancy_pants on 05.14.19 at 12:44 pm

Uber has never made a penny, no assets and valued more than GM. hilarious. suckers born every minute

point to add: Never buy into hype … unless you have that covered under ‘don’t be a cowboy’

#142 JB on 05.14.19 at 12:52 pm

98 Ronaldo on 05.13.19 at 11:38 pm

#88 Smoking Man on 05.13.19 at 9:48 pm
Burr hires a prosecutor to look into the origins of the Russia probe the fake documents that started the spying.

The shit show is starting. Wondering how many are going jail.
——————————————————————-
It’s Barr, not Burr. You must be thinking of Perry Mason. And yes, there will be a few more heading for the calaboose.
……………………………………………………………………
That’s odd……………all of the indicted and convicted are Trump associates either close ones or somewhat removed?
I’m thinking Ivanka, Jr, Eric, ……………………..next…..

#143 JB on 05.14.19 at 12:53 pm

Here is the list of Trumpy losers.

https://www.cbsnews.com/news/mueller-report-who-has-been-charged-in-special-counsel-robert-mueller-russia-probe-2019-04-18/

#144 jess on 05.14.19 at 12:53 pm

what happens if there is no rational people?

It was 84 degrees near the Arctic Ocean this weekend as carbon dioxide hit its highest level in human history

=========
whose in charge?…it would seem nobody!

Government positions left empty, cronyism, anti-government ideology – everything about Trump’s administration makes America more vulnerable to risk

The people who eventually turned up to run Trump’s federal government were nothing like MacWilliams, Zaidi or the other public servants Lewis met. They are more like intellectually limp versions of the arrogant “Big Swinging Dicks” Lewis described on the Salomon trading floor. Many government positions remain unfilled, but those who are in office are there not by dint of intelligence or expertise, but through cronyism and loyalty to Trump.

“The woman who ran the Obama department’s energy-policy analysis unit received a call from Department of Energy staff telling her that her office was now occupied by Eric Trump’s brother-in-law,” Lewis writes (Eric is Donald’s son). “Why? No one knew.” Trump’s people, Lewis makes clear, are largely inept and animated by greed, anti-government ideology and a “commitment to scientific ignorance”. Trump himself is, in Lewis’s view, “the single worst business manager that’s ever occupied the office. He’s obsessed only with himself, he doesn’t manage anything.”

“It’s bad enough Rick Perry has no sense of this,” Lewis thought after hearing of his appointment. But he had to acknowledge he didn’t know anything about the department either. So he decided to find out. “It took about two phone calls before I learned, ‘Oh, that’s where the nuclear weapons are. Oh my God.’”…
What Lewis went on to discover was even more shocking. On the morning after the presidential election, as the balloons from the previous night’s parties are still settling on the ballroom floors, the president-elect is expected to send teams into every department of the US federal government to begin the transition of power. But at the Department of Energy last November – and, it turned out, at many of the country’s 14 other federal departments – one day passed, and then another, and no one came.
Bureaucrats in the Obama administration had worked for a year to prepare thousands of pages of briefings on the risks their successors could face. Yet by Thanksgiving, no one from the Trump team had arrived to receive them. “I was fucking nervous … ,” Steve Bannon later told friends about Trump’s handling of the transition, Lewis reports in the book. “I go, ‘Holy fuck, this guy doesn’t know anything. And he doesn’t give a shit.’”

https://www.theguardian.com/books/2018/sep/22/michael-lewis-trump-gambling-america

#145 Lost...but not leased on 05.14.19 at 12:57 pm

Re Trump et al.

Highly recommend Dr. E. Michael Jones a diligent researcher who lays it out in black and white on what goes on behind the scenes.

He often refers to the oligarchs who run the deep state.
Trump was not ” their boy ” ….his election was not in their plans.

Now being groomed by the oligarchs for President is Pete Buttigeig, the mayor of South Bend Indiana. (Have you heard of this guy before ? Me neither !)

What is his claim to fame ? Rhode Scholar = training to be oligarch puppett,….Harvard grad and gay/married…will be the first openly gay presidential candidate.

This seems to be another mystery candidate…like Clinton and Obama….

#146 IHCTD9 on 05.14.19 at 12:58 pm

#133 JKG on 05.14.19 at 10:33 am
#153 IHCTD9 on 05.13.19 at 9:50 am
#24 Joe Vancouver on 05.12.19 at 5:19 pm

“Escaped Communism from Eastern Europe 30 years ago. The mindset of Canadians is becoming quite concerning.You are not the first Communism escapee to have voiced this concern about Canadians on this blog.
Scary stuff indeed.”

The economic ignorance on this blog is staggering. Blog dogs who have been living in a Keynesian society for 70 plus years, don’t even realize it and think they are living in a communist regime. Blog dogs who confuse a mixed market economy with a communist economy. Blog dogs who couldn’t tell you the difference between classical economics and Keynesian economics if their lives depended on it. Not all of course. There are blog dogs here who know the difference. The others, sigh….
___

I think you missed the point Joe was making. He was talking about standard issue communist philosophy, and the parallels thereof he has noticed among his fellow Canadians – not different economic models.

#147 Remembrancer on 05.14.19 at 1:18 pm

#137 That’s All, She Wrote on 05.14.19 at 10:59 am

I’ll bite on some of this b/c I was there too in the 80’s…

First, BC. What Gartho describes as planned is IMHO 1st class extra-judicial over-reach. Sure, grab proceeds of crime gained from an actual crime you were actually convicted for – that perpetrators may be beyond reach on foreign soil can be handled by some in absentia tweaks, not wholesale confiscation by provincial enforcement bozos on a whim or b/c a noisy, jealous neighbour doesn’t like the “N” sign on the back window of a Bugatti parked in the driveway (and they actually still do that in BC for learner permit drivers? jeez).

On China – its complicated. I quibble that your analogy falters in that its more like outsourcing the ring laser gyro manufacturing – true these 49% / 51% partnerships for technology and manufacturing to get access to China’s markets are a defacto turning over of tech to in theory to gain market access which is dubious in at least some cases and intellectual property highway robbery is rampant. From China’s POV it develops local capacity and reduces reliance on external producers – 19th century British and French taught them the dangers of that. Is the CCP playing a long game to establish themselves as a dominant power, damn straight, human right abuses, yep and down at the street levels there’s a lot of people doing what people do, go to work, pay bills and look to better their families, hopefully w/o too much RE. But as you question détente would you prefer a North Korea of 1.4B people – closed and acting like they don’t need the rest of the world as trade partners or requiring something resembling stable global relations? Its far easier to keep a lid on things if everyone has skin in the game… and it requires some nose holding to in theory make incremental improvements, like I said, complicated…

#148 jess on 05.14.19 at 1:26 pm

so is this private company protecting the world against
‘terrorist’ by spying on some or blackmailing some

Jared Kushner and Ivanka Trump Use Private Accounts for Official …
https://www.nytimes.com/2019/03/21/us/politics/jared-kushner-whatsapp.html
Mar 21, 2019 – Jared Kushner, President Trump’s son-in-law and senior adviser. … WhatsApp, for official White House business, including with foreign contacts

==============
security flaw
…”While WhatsApp did not name the private company, a source familiar with the investigation into the attack said that company is NSO Group, an Israeli cyber company that has developed a powerful piece of malware designed to spy on its victims.”

WhatsApp to update their apps to the most recent version of the service, a source familiar with the warning told CNN Business.

https://www.cnn.com/2019/05/14/tech/whatsapp-attack/index.html

#149 Remembrancer on 05.14.19 at 1:31 pm

#146 IHCTD9 on 05.14.19 at 12:58 pm
#133 JKG on 05.14.19 at 10:33 am
#153 IHCTD9 on 05.13.19 at 9:50 am
#24 Joe Vancouver on 05.12.19 at 5:19 pm
I think you missed the point Joe was making. He was talking about standard issue communist philosophy, and the parallels thereof he has noticed among his fellow Canadians – not different economic models.
————————————–
OK – one example in Canada of Collectivization, forced or otherwise? How Abolition of bourgeois property (wealth producing factories, machines or tools)?

Heck, name your own example – it just needs to be real communism, not some rant about we’re on the path to socialist / communist hell b/c there’s a 4 cent/l carbon tax (not agreeing w/ that btw, just saying that’s not communism either)…

#150 Remembrancer on 05.14.19 at 1:35 pm

#145 Lost…but not leased on 05.14.19 at 12:57 pm
This seems to be another mystery candidate…like Clinton and Obama….
—————————————-
The one time Governor or Arkansas or Senator from Illinois, both with established political machines? Complete mystery those…

#151 Shawn Allen on 05.14.19 at 2:06 pm

Stock Valyuations:

#141 fancy_pants on 05.14.19 at 12:44 pm said:

Uber has never made a penny, no assets and valued more than GM. hilarious. suckers born every minute.

********************************
Interesting you mention GM. General Motors Company. Its predecessor General Motors Corporation went bankrupt and changed its name to Liquidation Motors and the former share holders and I would guess many creditors were wiped out.

The new General Motors Company was set up with a new IPO (new share holders) and included government bail out money in return for taking on the pension and union obligations of the predecessor bankrupt GM. Old GM never actually emerged from bankruptcy.

Back in 1986 I first learned about Microsoft corporation and was using their PCs when I worked at Nova Scotia Power. Sometime soon after that I learned that Microsoft’s market cap was bigger than GM’s at the time. Absolutely, crazy, I thought. Way too late to invest. I could not have been more wrong.

Not sure about Uber but some companies that don’t make any profit for years eventually make billions. MicroSoft. Amazon. Apple was near bankruptcy at one point…

#152 IHCTD9 on 05.14.19 at 2:09 pm

#149 Remembrancer on 05.14.19 at 1:31 pm
#146 IHCTD9 on 05.14.19 at 12:58 pm
#133 JKG on 05.14.19 at 10:33 am
#153 IHCTD9 on 05.13.19 at 9:50 am
#24 Joe Vancouver on 05.12.19 at 5:19 pm

I think you missed the point Joe was making. He was talking about standard issue communist philosophy, and the parallels thereof he has noticed among his fellow Canadians – not different economic models.
————————————–
OK – one example in Canada of Collectivization, forced or otherwise? How Abolition of bourgeois property (wealth producing factories, machines or tools)?

Heck, name your own example – it just needs to be real communism, not some rant about we’re on the path to socialist / communist hell b/c there’s a 4 cent/l carbon tax (not agreeing w/ that btw, just saying that’s not communism either)…
_____

Again, Joe was commenting of the mindset of Canadians, not actual communist policy in Canada.

#153 oh bouy on 05.14.19 at 2:28 pm

@#111 Amber Alerts Ruined My Sleep! on 05.14.19 at 7:29 am
This is crazy. Finished my shift after midnight, them woken up by 20 amber alerts early this morning about something happening in Sudbury, five hours away from me!

Nuts. Thanks for nothing all you SJW Commies and libtards who created this system.

Send a letter to the Premier, everyone. Dougie will stop this nonsense.

Leave policing to the cops, I say.

I wonder how many heart attacks and car crashes will happen today because of thousands of people getting woken up repeatedly by amber alerts, now fatigued and distracted or suffering high blood pressure?

Does not make sense at all.
___________________________________

could you be a bigger loser?
Probably.

#154 Mattl on 05.14.19 at 4:02 pm

Geeze enough with the Pets.com Uber comparisons. Pets.com had less then 1MM revenue the year before it was liquidated. Uber posted almost 12B in revenue in 2018.

Yes Uber has a profitability problem, a weak management group, etc. But burning through cash and taking years to get to profitability isn’t that uncommon for an ambitious startup. They delivered something like 5B trips the past few years, that is worth something and it’s not a bad place to be. I suspect they can increase rates without losing significant share. Their service isn’t perfect but it’s significantly better then a trad cab.

#155 JB on 05.14.19 at 4:05 pm

#153 oh bouy on 05.14.19 at 2:28 pm

@#111 Amber Alerts Ruined My Sleep! on 05.14.19 at 7:29 am
This is crazy. Finished my shift after midnight, them woken up by 20 amber alerts early this morning about something happening in Sudbury, five hours away from me!

Nuts. Thanks for nothing all you SJW Commies and libtards who created this system.

Send a letter to the Premier, everyone. Dougie will stop this nonsense.

Leave policing to the cops, I say.

I wonder how many heart attacks and car crashes will happen today because of thousands of people getting woken up repeatedly by amber alerts, now fatigued and distracted or suffering high blood pressure?

Does not make sense at all.
___________________________________

could you be a bigger loser?
Probably.
………………………………………………………..
One day it will come back to bite #111 Amber Alerts Ruined My Sleep! in his or her large dumb ass. What a pathetic loser. It would sure a hell be a different story if your child, sister, brother, mother, father of anyone else in your family was in harms way and they didn’t sound the alarm. Get professional help for Christs sake its an alarm you idiot! Just like the smoke detectors in your house!

#156 EB on 05.14.19 at 4:18 pm

#147 Remembrancer – We’re witnessing the middle kingdom bootstrapping itself to global dominance what has to be the most mind-boggling wholesale transfer of IP in human history, in return for cheap plastic gewgaws and a bit of extra disposable income. The 1% are per standard making out like bandits but that’s nothing new. All the same we won’t be able to say word one while they continue to fill up the concentration camps with undesirables, partly to make sure we hit those quarterlies, and partly because our own dialectic is locked down in competing absurdities while the chorus keeps their mouths shut for fear of being labelled thought criminals. One thing’s for sure – the West will one day be faced with the stark reality of the thing it fed being bigger and badder than any other kid on the block. But that’s for another generation to worry about, let’s go buy a $20 deep-fryer.

#157 Lost...but not leased on 05.14.19 at 4:43 pm

#150 Remembrancer on 05.14.19 at 1:35 pm
#145 Lost…but not leased on 05.14.19 at 12:57 pm
This seems to be another mystery candidate…like Clinton and Obama….
—————————————-
The one time Governor or Arkansas or Senator from Illinois, both with established political machines? Complete mystery those…

==============================

Clinton and Obama family backgrounds are not very clear and transparent …..nor is their education…other than the cut-outs they represent.

Why Clinton isn’t in jail is another great mystery…

#158 The Great Gordonski on 05.14.19 at 6:52 pm

#132 MF. 92.6% represents the ratio of stocks held five years and currently ‘in the black’. Cry and envy all you want. I doubt you have any idea what Buffets win/loss ratio is. Whine whine whine, but like CGI bought at $14 is $90 and 36 other issues that have done similar and better than 100% over five years. That’s 20% p/a plus dividends. Why does that make you crap your pants? Buffet has done better than 20%, check your numbers, and your green goblin. Hasta la nada amigo.

#159 princeradar on 05.15.19 at 9:55 am

Garth,

Love the blog, can you get some stats on cottage country. If the market is soft for primary residences, the vacation property market must be even worse.

#160 Frank Castellani on 05.15.19 at 10:41 am

I have one question to ask? What happened to higher interest rates? This forum since 2008 when first started has never shown any evidence of higher interest rates. However, there was many times stated that higher rates were coming but soon fizzled or did not happen.

Please don’t tell me from the bottom 0.25% Bank of Canada rate or the U.S. Federal Reserve 0.0% to 0.25% rate bottom. Inflation rates over the last 18 years according to their stats are not much different, 1.75% to 2.75% range.

Interest rates are at least 25% to 50% lower than 2008 which was not the high of the 2000’s. In some cases long bonds Canada, U.S. are down 60% to 70% as today 30 year Canada bond is 1.88% from June-2000.

Those rates were in the 5% to 6%+ range. Rates back in 2007 to 2008 were in the 4%+ range and now are in the 2.75% to 3.1% range at most.

It is all smoke and mirrors. People were not born yesterday. Facts are facts. It is all a scam.

US rates rose 9 times. Canadian rates increased on 5 occasions. – Garth

#161 Rina Hammond on 05.15.19 at 1:54 pm

It looks like not reading comments is an avoidance technique or what?

The comment from Frank states don’t mention rate increases from the bottom of 0% to 0.25%. You guys do it all the time. Think long term with you investments.

Think long term with interest rate comparisons. 2%, 3% is less than 4%, 5%, 6% etc. This is almost 20 years ago. 1999 versus 2019. Get it now!