Pump & dump

Reddit’s five-second, what-the-hell-was-that? Superbowl ad was judged as a brilliant marketing move the next day. If you missed it, that was almost the point. First a logo, then a bunch of words which flashed by too fast to read them. A Millennial, GenZ thing. Most Boomers were in the can at the time.

Of course the Redditers were capitalizing on the explosion of interest – by media and newbie day traders – of its r/wallstreetbets chat room. Not only was the site responsible for a massive crowdfunding manipulation of several stocks (most notably GME, GameStop), it also just raised $250 million in private equity to help expansion. By the way, Robinhood, the free-trading app most favoured by the Reddit mob, also ran a spot on the football extravaganza. But this is what people strained to see…

While speaking about market manipulation, media exploitation and investor frenzy, we can’t ignore Elon Musk. The gazillionaire EV-space travel-tunnel digging-digital visionary and idol of the moment invested $1.5 billion in crypto while making it know he’d sell Teslas for Bitcoins. This helped propel BTC to new all-time highs, as it steamed towards the $50,000 US mark in an eruption of orgiastic rocket–thrusting enthusiasm.

Some people think crypto will replace fiat currency, now forever corrupted by bad government decisions, central bank bungling and unrepayable sovereign debt. Of course, they’re wrong. But that’s a topic for another day.

What’s notable about Musk is that he’s a promoter. A great one. Not only has he juiced BTC, but he purposefully did the same for GME, and even a puppy-crypto that was started as a joke (dogecoin). His theatrics meanwhile have made Tesla the most-capitalized car company on the planet when it’s not even in the top ten vehicle producers. It’s stunning what some well-placed hype will do when wooing investors. Especially the moist ones.

So, Reddit. The Hoodies. GME, AMC, silver, BTC and Elon tweets. It’s an old lesson that keeps being relearned. If getting rich without working for it (because you’re smarter than everybody else) was actually a strategy then this blog would be all over it. But, alas, in the real world we call it ‘pump & dump.’ It’s why there are regulators. And why they’re a bit pissed.

The latest news comes out of BC, where there’s been a long, long history of selling crap assets to gullible rubes. For 92 years the province was home to the Wild West of Canadian equity markets, the VSE, where any of the dodgiest mining deals in the country were struck. For most of those decades being a ‘promoter’ was almost respectable, and there sure were a lot of them. Think silk vests, string ties, handlebar staches, shiny horses, babes and moneyclips. Oh, and bags of gold nuggets, rushed in by mule from the latest big hole.

So the BC Securities Commission is now all over Reddit. “The pump and dump game has changed,” says the regulator, “in a world dominated by social media.” And this sums it up nicely: “The simple idea is this: somebody shouldn’t be able to lie on social media about a stock.”

A big problem with GME on Reddit, for example, was that people with positions in the stock – even corporate insiders with a significant holding – were able to say whatever they wanted, without consequences, making broad claims and exhorting the aroused masses to load up. (On Tuesday a remorseful woman admitted to me that she bought 25 shares at $447 a pop. That’s about $400 a piece more than they’re now worth – for a one-week loss of $10,000.)

So the regulator is mulling a requirement which would force anyone who is pumping or dumping a stock to publicly disclose if they have a long or short position in that company. In the interests of transparency the commish points out it doesn’t have to actually prove any statement moved the price of an equity, only that a reasonable investor might find that information important in making a buy/sell decision. That’s a big hammer. And the odds are this would be adopted Canada-wide by the Canadian Securities Administrators and IIROC (the very scary dudes with quasi-judicial powers who regulate quivering financial advisors like moi).

Last week, in the wake of the Reddit mash-up, they said this: “We will take appropriate regulatory action to protect investors if we identify that abusive or manipulative trading activity may be taking place.” Yup, and there’s zero reason not to believe what happened with GME or AMC (or other target assets) was pure manipulation. The last total I saw for cumulative GameStop losses was $18 billion. Most of it out of the pockets, rent money and credit cards of people who mistook gambling for investing, and trusted some sleaze on a chat board. Like always (now with Bitcoin), a few will pig out enormously. The many will be Hoovered.

By the way, don’t bother slamming the comments section to say I’m a paleo who doesn’t understand fintech, blockchain technology, web3, the inevitability of cyrpto or the evil of naked shorts. I do. But that’s not the issue. It’s about cheating people, especially those who can least afford it.

Smirk away. You’ll still burn.

About the picture: “I have had German Shepherds all my life as companions/guard dogs,” says Carson, the tow truck guy. “Loved them all dearly. 8 to be exact. Had no interest in lap dogs… too girlie for me.  I love your dog photos and can tell you are a person who loves man’s best friend of the larger more manly kind.  Well, attached is my downgraded version of canine friends.  Sandra made me get them. Maybe you can use it. Their names are Goliath and Samson.”

223 comments ↓

#1 Flop... on 02.09.21 at 2:19 pm

Doesn’t appear that anybody got my Arkansas joke.

I’ll do what I always do, proceed with reckless abandon.

With you-know-what underway in Washington D.C, where I have never visited, despite having a standing invitation to stay at a cousins house, I started thinking about all the State Capitol buildings I have either toured or stood outside of.

These are the ones I remember going inside of…

Phoenix, Arizona.
Sacramento, California
Salt Lake City, Utah
Olympia, Washington

These are the ones I remember walking around the outside of…

Columbia, South Carolina
Austin, Texas
Santa Fe, New Mexico.

These are ones where I probably walked by them but just don’t remember them…

Helena, Montana
Carson City, Nevada
Salem, Oregon
Boise, Idaho

I don’t go out of my way to visit these buildings, but I enjoy the history and architecture and sometimes they are the most intricate building in town.

When I visited the California Capitol in Sacramento a fellow by the name of Schwarzenegger was in charge, so it was cool to see his name almost running out of room on the architrave.

My favourite one was probably Columbia, South Carolina, a funky little city.

You can still see 4 or 5 cannonball pockmarks in the walls.

Don’t remember if that happened because of The Civil War or Walmart forgot to roll back the price on certain items…

M46BC

#2 Dogman01 on 02.09.21 at 2:23 pm

It is obvious Canada will be 6-12 months behind our peers on Vaccination of our population.
What impacts will this have on our economy? Good article topic.

I speculate our vulnerable sectors may be bought out by their international peers as Canada sectors will be stressed longer and their peers would be able to access loans as their prospects would have had an opportunity to be demonstrated.
We will have to keep the Govt Support train going much longer creating more debt.

I think the Vaccine fiasco will sink us as to date the debt\spending has equalled our peers. But once they are on the path to recovery and we are not…..

https://financialpost.com/investing/canadas-terrible-vaccine-rollout-is-putting-the-economy-at-risk-and-we-should-be-outraged

#3 Classical Liberal Millennial on 02.09.21 at 2:30 pm

Garth, I’ve been contributing to WealthSimple Invest (a robo-advisor) and just made the decision to transfer my balance to WS Trade and pick out a few ETFs on my own to let my money sit in. What are your thoughts on those services? (If I had more, I would certainly invest with Turner..)

The issue is not the trading platform, it is you. Pick carefully, and be balanced. – Garth

#4 Mr Buyer on 02.09.21 at 2:34 pm

Ok. The whole reddit thing was jamming up a stock being shorted (I have no real understanding of the term shorted, it was explained but is entirely nonsensicle to me). The whole gamestop title should have warned stock shorters off. Lets see lets close down gamer shops. Highly motivated gamers. The love gaming things. Lets close down one of the stores they really like. Real people should not do gamer things, holding the line means going down in flames (the gamers knew that). Money is like another life in a game to gamers not sweat equity. The same thing happened to the marxists that tried to cow gamer space in 2016. It just generated like a billion memmes with screen shots of the cadre coordinating their thought police campaign. Comments were turned off by many sites for a reason. Short things not important to gamers, it should be all good, biz as usual then.

#5 Keith on 02.09.21 at 2:34 pm

For discussion. There were a couple of surprises for me.

Turbotax calculator 2020

60,000 income

Prov Fed tax Prov tax CPP/Ei Total Marginal rate

BC 6887 2770 3754 13411 28.2
Alta 6887 3668 3754 14329 30.5
Ont 6887 3514 3754 14156 29.65
Que 5767 7174 3754 16571 37.12
Nun 6887 2004 3754 12646 27.5

220,000 income

Prov Fed tax Prov tax CPP/EI Total Marginal rate

BC 48878 24926 3754 77539 49.8
Alta 48878 22183 3754 74818 47.0
Ont 48878 30271 3754 82903 51.97
Que 40830 46826 3631 87116 53.31
Nun 48878 17484 3754 70177 44.50

#6 BlogDog123 on 02.09.21 at 2:36 pm

Isn’t the “Motley Fool” website with all their annoying web ads and clickbait equivalent to “encouraging pump and dump” mania ??

#7 T-Rev on 02.09.21 at 2:38 pm

I would say lesson learned for the Hoovered. You won’t see many retail investors lining up to join the next short squeeze. And any that do will so so knowing they’re playing in a very a rousing and interactive casino, and not actually investing. This may actually turn into a long term positive for many that got involved, if the numbers of questions ive fielded from younger coworkers Lately is any indication. I’ve done lots of teaching about broad index EFTs and B&D portfolios- and they’ve all listened with rapt attention. Some of them lost a few hundred bucks in the last couple weeks, and I’d say it’s the best money they’ll ever spend on financial education.

As I said preciously- by March, only the third or fourth weirdest thing to happen in 2021.

#8 Sail Away on 02.09.21 at 2:38 pm

“If getting rich without working for it (because you’re smarter than everybody else) was actually a strategy then this blog would be all over it.”

———–

Only Elon is smarter than everybody else.

Full disclosure: the author of this statement owns Tesla stock and idolizes Elon Musk.

#9 C on 02.09.21 at 2:46 pm

Garth please get into the topic for another day soon

I think the real argument is that bitcoin will be the sound money layer that the future digital economy is built upon. No need to buy coffee in bitcoin and fiat currencies will still exist, but a stable digital asset with a fixed supply for us to build our future around. The new world order if you will, free of the manipulation from our central bank overlords

#10 David on 02.09.21 at 2:47 pm

Garth,

How would you interpret moves by PayPal to accept and hold BTC, as well as other larger investment firms/funds taking a position in BTC? Some advisors are suggesting it could be good to hold in a portfolio as a hedge device like cash. Some are suggesting the US dollar is loosing its luster as the primary reserve currency and crypto could help in a small way to balance that out.

Would any of this give any validity or value to this currency?

Thanks.

If your advisor recommends that, get a new one. – Garth

#11 Doug in London on 02.09.21 at 2:49 pm

I also missed the Reddit ad. Most likely I was thinking about how about 60% of the power to run my TV is from nuke power stations, powered by uranium most likely produced by Cameco. I scooped up some shares of this company when on sale. Some of that remaining power is from independent producers like Algonquin Power, of which I also bought into when cheaper. All that power is transported by Hydro One, of which I also bought when cheaper than now. If the Redditers drive up any stocks I own, I’ll sell and take a capital gain.

I want nothing to do with GME, and as far as AMC is concerned, isn’t that American Motors, which merged with Chrysler in about 1988? Then there’s BTC, I’ll have to consult my owner’s manual to see what the ignition timing in my car is, in degrees BTC.

#12 tkid on 02.09.21 at 2:49 pm

To the remorseful woman who lost $10k: back in the 90s I bought twenty shares of Nortel right after the share price dipped on rumours of insolvency.

I figured it would go back up. It was Nortel. It was a sure thing. I lost $2k, and if I’d bought a nice, balanced portfolio instead, I figure they’d’ve been worth about $10k today.

Every time I log in I see 2 shares of Nortel (because they had a reverse stock split). Every so often I try to sell ’em and can’t because Nortel is no longer in existence.

I figure everyone has to learn a le$$on in order to invest rationally in the market. Nortel was mine, GME is yours.

But for Dog’s sake, sell yours before you find ghost shares of GME haunting your investment accounts.

Hugs.

#13 Sean on 02.09.21 at 3:02 pm

For your ‘topic for another day’: some info on the environmental impact of bitcoin: https://twitter.com/smdiehl/status/1350869944888664064

#14 truefacts on 02.09.21 at 3:02 pm

Excesses in the markets now – similar to the “irrational exhuberance” of the late 1990s…

Nothing underpins the value of cryto, but is it becoming the new “gold” – a refuge when govts endlessly print?

It is interesting that gold has outperformed the S&P since 2000 (but the prior 20 years were horrendous)…

#15 Linda on 02.09.21 at 3:13 pm

Today’s blog dog photo = very cute. Also, don’t diss small dogs! More than one petite pooch has bagged a human. Small doesn’t mean they’ve lost the killer instinct!

Speaking of killer instincts, or the aftermath of same, read that parents of one Robinhood investor are suing. Apparently their son killed himself as a result of believing he’d scored a smoking trading loss of some $730K. Not sure if market regulation would have prevented the situation, but may prevent a repeat.

#16 IHCTD9 on 02.09.21 at 3:17 pm

#1 Flop… on 02.09.21 at 2:19 pm
Doesn’t appear that anybody got my Arkansas joke.
___

I got it Flop, you can ask Ms. IH, she heard me chuckling as I read it.

#17 Dogman01 on 02.09.21 at 3:19 pm

China’s ongoing domination of Canada (or at least the Liberal Party of Canada’s total submission to China: –

Canada’s visa application centre in Beijing run by Chinese police!
https://www.theglobeandmail.com/world/article-canadas-visa-application-centre-in-beijing-run-by-chinese-police/

Questions mount over Trudeau’s vaccine dealings with China:
https://financialpost.com/diane-francis/diane-francis-questions-mount-over-trudeaus-vaccine-dealings-with-china

“Any man can make a mistake. Only an Idiot persists in his errors”

China Inc – State controlled or state owned entities or entities which will not be motivated by commercial imperatives.
Asymmetrical warfare.

“China, the only country to post positive GDP growth last year, has a huge lead in the post-COVID recovery and consequently will come out of this in a much stronger position than before, thereby further closing the gap with the U.S.”

#18 ElGatoNerodeYVR on 02.09.21 at 3:22 pm

The issue I’m seeing with Investing and or trading is that lots of people don’t actually read what is available about strategy and portfolios diversification.
With my play money (less that 5% of my total portfolio) I trade using some SeekingAlpha services and it shocking how every time a free trial is opened youget new people that simply do not read the strategy articles or look at the portfolio composition/recommendations .They just jump in chat and ask about what stock to buy …kind of like the reddit crowd.
So yes, it is a global problem , not even going to touch the Chinese stock market which has been and still is is pure momentum base.
As far as starting out with small amounts I posted before , canadian couch potato or a balanced Tangerine fund will do,once you have a few hundred g’s any financial advisor will take you,likely even Garth if you email him directly.

#19 Millennial 1%er on 02.09.21 at 3:25 pm

Crypto fluctuates wildly but I am much more fond of holding something that isn’t printed to oblivion. I’m a bit of a unique case because I’m a crypto nerd & computer professional. There is a big difference between holding stable, popular cryptocurrencies as a small percentage of your total exposure compared to buying shitcoins that are manipulated to take advantage of people. I basically just support the network with my 5k $ gaming rig and use that to heat my room.

However, it has been pretty difficult to balance my crypto exposure since it’s made me so much god damned money. And I plan to never sell because that would make tax season more complicated than I like. Whatever, ez come ez go

#20 mj on 02.09.21 at 3:26 pm

I agree pump and dump is completely wrong. But I personally see no difference between the people on reddit pumping a stock. Or a portfolio manager on bnn pumping a stock. Because I have seen many of them recommending a stock and the stocks have gone under. Do you see a difference?

The BNN guy probably has a profession, a license, a regulator, a manager and a corporate entity and a compliance officer to answer to. – Garth

#21 James on 02.09.21 at 3:27 pm

Garth, is there fee-based advisors you would recommend who deal with smaller/growing portfolios? I’m really trying to steer my squeeze and I away from the salesfolks at the bank, but, despite my best efforts and your sage advice, I feel this would all be handled better by a pro. So, how do i find one!?

Email me: [email protected]. – Garth

#22 Sail Away on 02.09.21 at 3:28 pm

#16 IHCTD9 on 02.09.21 at 3:17 pm
#1 Flop… on 02.09.21 at 2:19 pm

Doesn’t appear that anybody got my Arkansas joke.

———–

I got it Flop, you can ask Ms. IH, she heard me chuckling as I read it.

———–

Arkansas/broken saw. Pretty good.

#23 Gee ... I miss all ... on 02.09.21 at 3:29 pm

ad’s. Refuse to watch them. I seem to be OK.

#24 theoryAndPractice on 02.09.21 at 3:34 pm

So, Reddit. The Hoodies. GME, AMC, silver, BTC and Elon tweets. It’s an old lesson that keeps being relearned. -GT


Do you know why sometimes I track redundant MSM or tweets? Just to make sure what not to do!

#25 Dan in Nanaimo on 02.09.21 at 3:34 pm

All manias end on a sour note. And the best of luck with that non-issued CB currency – or store of value – however you choose to refer to it as. All hard currency – specifically the USD – is controlled by men with a direct telephone line to the military switchboard. That’s how it works.

#26 Felix on 02.09.21 at 3:37 pm

Mr Turner, you are hereby served notice:

In less than 24 hours you have increased your vile photos of useless canines by 100%, from 1 to 2 dogawful mutts per picture.

This is unacceptable.

You have until 7 p.m. to remove one of the dogs in today’s picture and replace it with a cat.

If not, we reserve the right to begin a 2nd Trial for Impoochment immediately.

This will put you in very bad company.

Also, yesterday you implied that investing $3000 for a pet dog might be reasonable to consider. IIROC does not agree and we are prepared to file a complaint with them if you do not acknowledge the complete financial and practical uselessness of dogawful mutts.

This will follow immediately after a motion for a Second Impoochment.

#27 Dolce Vita on 02.09.21 at 3:42 pm

Garth, hard to say what will happen. A mess.

Reddit vs Wallstreet – GameStop, The Movie [26:40 duration]
665,105 views•Feb 4, 2021

by ColdFusion
2.84M subscribers [incl. me]

https://www.youtube.com/watch?v=YFQ-v1jCpF0&t=950s

#28 Tron Light on 02.09.21 at 3:43 pm

#8 Sail Away on 02.09.21 at 2:38 pm

“Only Elon is smarter than everybody else.

Full disclosure: the author of this statement owns Tesla stock and idolizes Elon Musk.”

You sure hit the nail on the head. He’s smart enough to know that if he pumps up the stuff he owns, people that idolize him, like you do, will make him a pile of money. I suppose if he told you to jump off a cliff, you would.

And, btw, I don’t care how much money you make from it, you will never make as much as him.

#29 Howard on 02.09.21 at 3:47 pm

Faron:

So, gender pay gap.

The US Dept of Labor conducted a comprehensive study of this issue in 2009. It found that after controlling for relevant variables, the true gender pay gap is around 94 cents earned by a woman for every $1 earned by a man. And that was 12 years ago so it’s probably narrowed even further since then.

A 6-cent gap is quite different from the 30-cent discrepancy you were claiming.

Oh but a 6-cent gap is still wrong? Well, we don’t really know the causes of it. One theory is that women just aren’t as adept at negotiating their salaries as men. So are corporations supposed to give women an easier time? Managers and HR are not in the habit of paying staff any more than they have to given labour market conditions. Additionally, given that HR departments these days are around 87% female (unempirical observation on my part), perhaps the “gender pay gap” protesters should take up the issue with other women, not men.

And since companies focus on the bottom line, wouldn’t this make women far more desirable applicants than men? Shouldn’t the unemployment rate for men be much higher than that for women? Nobody is going to call out an office for having an all-female staff. So why don’t they do it, and save money on staff costs in the process?

#30 The West on 02.09.21 at 3:51 pm

Nanny State is never the answer. Eeeegads! What have we learned from Freeland and Trudeau?

“We’re going to regulate to protect you from yourself”

It’s just so numbing. Let people be. No amount of social engineering, bureaucratic overreach, or education on any given subject is going to save people from themselves.

Government is not the solution to our problems, government is the problem.

#31 Joseph R. on 02.09.21 at 3:52 pm

#6 BlogDog123 on 02.09.21 at 2:36 pm
Isn’t the “Motley Fool” website with all their annoying web ads and clickbait equivalent to “encouraging pump and dump” mania ??

———————————————————–

The Motley Fool is legit: They make their money on their subscriptions and with they’re, rather aggressive, upsells. They have a rather large audience, 700k (according to Google). They announce, in advance, which stocks they recommend to buy in their Stock Advisor service, they have an effect on the demand of those said stocks.

In the late ’90s, they were known for their investment strategy named the “Foolish Four”; an adaptation of the “Dog of the Dow” strategy. They discontinued that practice in the early 2000s:

https://trader.fandom.com/wiki/Foolish_Four

You can invest in their strategy without even subscribing to their “Stock Advisor” service. They even launched their own ETF (0.5% fee):

https://www.marketwatch.com/investing/fund/tmfc

#32 Flop... on 02.09.21 at 3:54 pm

#16 IHCTD9 on 02.09.21 at 3:17 pm
#1 Flop… on 02.09.21 at 2:19 pm
Doesn’t appear that anybody got my Arkansas joke.
___

I got it Flop, you can ask Ms. IH, she heard me chuckling as I read it.

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

Thanks Trackie, I knew I could count on you to get my bit of blue collared humour.

Also as an addendum to my post at number 1.

I have walked around the Capitol Building in Honolulu, Hawaii, but don’t recall going in.

Maybe I was thinking about finding Faron a fresh piece of pineapple…

M46BC

#33 Guy in Calgary on 02.09.21 at 3:54 pm

Nibbled at BTC when it was around $3750. Should have bought more, oh well.

Crypto is not going anywhere.

#34 Piano_Man87 on 02.09.21 at 3:55 pm

“The simple idea is this: somebody shouldn’t be able to lie on social media about a stock.”

The only way to enact this is to shut down the platforms. You can’t stop millions of anonymous people behind accounts with no personal ID requirements, and VPN’s, from pumping and dumping stocks on subreddits.

You can’t even tell if someone pumping a stock on WSB is Canadian, American, Swiss, whatever. You don’t know if they are your jurisdiction or not.

So, how are they going to enforce this?

#35 Pat on 02.09.21 at 3:57 pm

#3 Classical Liberal Millennial

For a balanced all-in-one ETF, you can’t go wrong with VBAL/XBAL/ZBAL.

Until you have mucho dineros of course – then, a certain Mr Turner’s expertise with certainly help. :)

#36 devore on 02.09.21 at 3:59 pm

So there goes literally every investment/finance discussion forum ever? Every time I mention in any way any security for any reason, I have to state whether I have a position in it? And who’s going to police millions of messages daily an pay for it? I’m sure the smart people in charge will figure it all out.

#37 Joe on 02.09.21 at 4:01 pm

Educate Educate Educate!

The Finance industry/Fintech are only hurting themselves long term, if customers lose money and feel ripped they will not return.

I have read comments on the chat boards, these kids/adults have no idea what the following mean:

-shares outstanding
-eps(earnings per share)
-PE ratio
-market capitalization
-income
-debt

#38 Lord Tunderin on 02.09.21 at 4:01 pm

Just opened a wealthsimple trading account (takes 5 minutes) and put $10K in. Time to make some money!!! Who’s with me blog dogs? What are we buying?

#39 CryptoGoogMicroTrueDoomFakeAppleMazon on 02.09.21 at 4:09 pm

reaching for popcorn…
Elon Musk checks all the boxes for a starring role in this Crypto movie. Same old porn, just a new episode.

#40 Give me Freedom from Freeland on 02.09.21 at 4:10 pm

So Freeland now figures highschool students can help with the budget…. gee didn’t they just send out $636M in CERB dollars to 15-17 yos for no reason what so ever….

Maybe she figures that will be an upgrade from T2….. worst gov ever…

#41 Ustabe on 02.09.21 at 4:13 pm

The trouble with small dogs is almost all of them have mouth/dental issues. Certainly the bathtub breeders produce mixed breed small dogs with very high incidences of this.

A full dental on a dog runs in the $400 range so many do not do that because animals don’t show pain/discomfort like we would. The result is a snappy, bitey, yappy dog.

If you are going to keep animals then at least keep them healthy.

#42 jess on 02.09.21 at 4:14 pm

programe crawling -monitor data conversations on social media to get into the heads of those thinkers?

June 18, 2014 hearing by the Senate Banking Subcommittee on Securities, Insurance and Investment, Senator Elizabeth Warren sized up what Virtu was doing as follows:

“For me the term high frequency trading seems wrong. You know this isn’t trading. Traders have good days and bad days. Some days they make good trades and they make lots of money and some days they have bad trades and they lose a lot of money. But high frequency traders have only good days.

“In its recent IPO filing, the high frequency trading firm, Virtu, reported that it had been trading for 1,238 days and it had made money on 1,237 of those days…The question is that high frequency trading firms aren’t making money by taking on risks. They’re making money by charging a very small fee to investors. And the question is whether they’re charging that fee in return for providing a valuable service or they’re charging that fee by just skimming a little money off the top of every trade…

“High frequency trading reminds me a little of the scam in Office Space. You know, you take just a little bit of money from every trade in the hope that no one will complain. But taking a little bit of money from zillions of trades adds up to billions of dollars in profits for these high frequency traders and billions of dollars in losses for our retirement funds and our mutual funds and everybody else in the market place. It also means a tilt in the playing field for those who don’t have the information or have the access to the speed or big enough to play in this game.”

#43 S.Bby on 02.09.21 at 4:20 pm

Can some please explain to me why Tesla needs to own Bitcoin in order to accept Bitcoin as payment for its cars? Is this a proper investment for a public company to make? Doesn’t Tesla have a fiduciary duty to its shareholders to not make speculative investments? Isn’t Tesla buying bitcoin so Bitcoin goes up on the news like market manipulation of Bitcoin by Tesla?

#44 Faron on 02.09.21 at 4:27 pm

#28 Flop… on 02.09.21 at 3:54 pm

#16 IHCTD9 on 02.09.21 at 3:17 pm
#1 Flop… on 02.09.21 at 2:19 pm

Maybe I was thinking about finding Faron a fresh piece of pineapple…

Yes please. If I may be so bold, would you mind sprinkling some Hawaiian sea salt on it? I prefer south shore Kauai’s salt if it’s not too much to ask. Red with some basalt cinder grit. It’s chilly up here these days.

IHTCD9, laughed at bust-a-move yesterday. Unfortunately, I’m crap when it comes to recalling names, so no idea who the bassist is.

#45 LP on 02.09.21 at 4:28 pm

In this fisher’s house we call dogs like that “bait”.

#46 Joseph R. on 02.09.21 at 4:29 pm

#40 Give me Freedom from Freeland on 02.09.21 at 4:10 pm
So Freeland now figures highschool students can help with the budget…. gee didn’t they just send out $636M in CERB dollars to 15-17 yos for no reason what so ever…

————————————————————

How many 15 to 17-year-old made $5k in 2020 in order to receive CERB money?

#47 uppa uppa on 02.09.21 at 4:30 pm

https://www.weforum.org/agenda/2021/01/cryptocurrencies-are-democratising-the-financial-world-heres-how/

According to the World Bank, close to one-third of the world’s adults are “unbanked”, meaning they don’t use formal financial services. That’s nearly 2 billion people lacking access to the traditional financial system. They can’t protect their money, gain access to wealth-building tools and services, or effectively plan for their future.

But the problem isn’t just in the developing world.

The Federal Reserve found that 22% of adults in the United States are either unbanked or underbanked. That’s roughly 63 million Americans who either have no bank account at all or rely on “alternative financial service products” such as money orders, check cashing services, or payday loans to fulfil their financial needs.

….

anyone want to guess why 2 major fintech companies and Visa are on board?

#48 Jonathan Krueger on 02.09.21 at 4:32 pm

Just wondering if most “pump and dumps” are decentralized, are hard capped and have a 12 year history?

#49 Warren-the-lagging_indicator on 02.09.21 at 4:33 pm

Can I short the SEC?
Is it true that Pelosi wanted crew manned machine guns to take out swaths of Trumpers and Qeirdos. I have a hard time believing that. If true, she is nuts.

#50 Alberta Ed on 02.09.21 at 4:33 pm

Speaking of manipulation, Tesla makes most of its income from regulatory credits, not from selling cars. Several US states require automakers to sell a certain percentage of zero-emissions vehicles by 2025; if they can’t, they have to buy regulatory credits from an automaker that does, such as Tesla. The $1.6 billion in regulatory credits Tesla received in 2020 outweighed net income of $721 million — meaning it would have posted a net loss in 2020. Of course, EV’s are not emission free, if you count the emissions generated during construction, especially the batteries.

#51 Flop... on 02.09.21 at 4:47 pm

#44 Faron on 02.09.21 at 4:27 pm
#28 Flop… on 02.09.21 at 3:54 pm

#16 IHCTD9 on 02.09.21 at 3:17 pm
#1 Flop… on 02.09.21 at 2:19 pm

Maybe I was thinking about finding Faron a fresh piece of pineapple…

Yes please. If I may be so bold, would you mind sprinkling some Hawaiian sea salt on it? I prefer south shore Kauai’s salt if it’s not too much to ask. Red with some basalt cinder grit. It’s chilly up here these days.

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

Hey Faron, you stated the other day that your partner was a stuffed pineapple, I tried to get you a fresh one.

Arkansas joke?

Still not sure everyone got that one either, since some of you guys have been going for hikes on the island I will rejig it.

When I go for a long hike my feet get Arkansas…

M46BC

#52 Sail Away on 02.09.21 at 4:48 pm

#43 S.Bby on 02.09.21 at 4:20 pm

Can some please explain to me why Tesla needs to own Bitcoin in order to accept Bitcoin as payment for its cars? Is this a proper investment for a public company to make? Doesn’t Tesla have a fiduciary duty to its shareholders to not make speculative investments?

———–

We Tesla shareholder support Mr. Musk in all his endeavours. Go Elon!

#53 TSLA on 02.09.21 at 4:49 pm

Speaking of manipulation, Tesla makes most of its income from regulatory credits, not from selling cars. Several US states require automakers to sell a certain percentage of zero-emissions vehicles by 2025; if they can’t, they have to buy regulatory credits from an automaker that does, such as Tesla. The $1.6 billion in regulatory credits Tesla received in 2020 outweighed net income of $721 million — meaning it would have posted a net loss in 2020. Of course, EV’s are not emission free, if you count the emissions generated during construction, especially the batteries.

……….

it was added to the SPY and has 7 straight proftible qtrs. It has multiple rev streams

hope you covered any short :)

#54 Prairieboy43 on 02.09.21 at 4:52 pm

New developments into Super Bowl Sunday. KC mailed in three touchdowns at 3:00 am. KC Super Bowl champs.
PB43

#55 Barb on 02.09.21 at 4:58 pm

Garth, want my ole BRIC shares for you memory wall?

#56 BlogDog123 on 02.09.21 at 5:01 pm

re:
#54 Prairieboy43 on 02.09.21 at 4:52 pm
New developments into Super Bowl Sunday. KC mailed in three touchdowns at 3:00 am. KC Super Bowl champs.
PB43

==
Fake News!
Tom Brady loves Trump, that’s for sure!
Get Rudy G. on the phone, he’ll do all the Fox News, OANN, QAnon, talk shows to claim A MASSIVE FRAUD

#57 SoggyShorts on 02.09.21 at 5:04 pm

#180 SeeB on 02.09.21 at 12:15 pm
#149 Nonplused on 02.09.21 at 1:06 am

#118 SoggyShorts on 02.08.21 at 8:55 pm
#174 Faron on 02.08.21 at 2:04 pm
#160 Sail Away on 02.08.21 at 1:12 pm

The gap isn’t a myth though:

******************************
You’re being tricked. Read the article you posted again with a more critical eye to the language:
“data also shows a 26 percent gap in full-time, full-year wages”
“Full-time” for women is actually less than for men.
Men are far more likely to take extra shifts and overtime while women are often in jobs where 35h is the norm. They are both full time, but that’s not the same hours.
Even more importantly that’s not the same work.
This bogus 26% number says NOTHING about what job. Comparing everyone who works 35+ hours against each other regardless of how many hours or what field they work in gives you garbage information.

https://www.nationalreview.com/corner/real-story-aauws-wage-gap-study-carrie-lukas/

https://www.forbes.com/sites/karinagness/2016/04/12/dont-buy-into-the-gender-pay-gap-myth/?sh=6c1163652596

https://time.com/3222543/wage-pay-gap-myth-feminism/

https://fee.org/articles/harvard-study-gender-pay-gap-explained-entirely-by-work-choices-of-men-and-women/

#58 Inequity on 02.09.21 at 5:04 pm

Digital currency and block chain all depend on encryption and with the advancements in quantum computing, encryption is close to being vulnerable.

New methods of encryption will be developed, but existing digital currencies that have it baked in will be worthless faster than you can click sell.

#59 greyhound on 02.09.21 at 5:05 pm

…Tesla the most-capitalized car company on the planet when it’s not even in the top ten vehicle producers. It’s stunning what some well-placed hype will do when wooing investors.
Wow — Could Tesla’s capitalization have gotten any help at all from multiple trillion$ of central bank money printing ending up in stock markets? Maybe?

#60 Howard on 02.09.21 at 5:09 pm

#36 devore on 02.09.21 at 3:59 pm
So there goes literally every investment/finance discussion forum ever? Every time I mention in any way any security for any reason, I have to state whether I have a position in it? And who’s going to police millions of messages daily an pay for it? I’m sure the smart people in charge will figure it all out.

——————————-

I wonder if Justin Trudeau is now advising US financial market regulators? Because this sounds like the type of idea his three-neuron brain trust would come up with. Employ civil servants to spy and intervene in internet chatrooms.

#61 Howard on 02.09.21 at 5:17 pm

#46 Joseph R. on 02.09.21 at 4:29 pm
#40 Give me Freedom from Freeland on 02.09.21 at 4:10 pm
So Freeland now figures highschool students can help with the budget…. gee didn’t they just send out $636M in CERB dollars to 15-17 yos for no reason what so ever…

————————————————————

How many 15 to 17-year-old made $5k in 2020 in order to receive CERB money?

——————————————-

Whether they were eligible or not doesn’t matter.

The Karen-hairdo minister who managed the program just said that people who received CERB while ineligible won’t have to pay it back.

https://www.ctvnews.ca/politics/some-ineligible-self-employed-cerb-recipients-won-t-be-forced-to-repay-government-says-1.5301484

#62 Oracle of Ottawa on 02.09.21 at 5:18 pm

I’m not big fan on more regulations…but pandering false information and manipulation…that’s another thing. Although this has happened many times in recent memory…Bre-x, Nortel, Enron, etc. And not much happened to those doing the peddling. And wasn’t Elon Musk already slapped on the wrist for giving false financial statements? I’m glad etf’s came along.

#63 yvr_lurker on 02.09.21 at 5:19 pm

It is unfortunate for this person who lost 10K in this gamble, but as they say a fool and their money are soon parted.

Isn’t it ironic that BC is now leading the way to regulate and make more transparent this new social media manipulation of the market through essentially a pyramid scheme?

https://financialpost.com/news/fp-street/bcsc-eyes-new-rules-to-address-manipulation-of-stocks-on-social-media/wcm/c0fa1153-34f1-470e-9f1d-99d875881a31/amp/

Perhaps it has something to do with really good provincial governance that we have had now for the past four years where all sorts of shady stuff the BC Liberals turned a blind eye to are no longer commonplace (casinos, money laundering, realtors running amok, pre-sale flips, and the list goes on). The Gov’t of Horgan/Eby and all has set a good tone…

#64 Faron on 02.09.21 at 5:25 pm

#29 Howard on 02.09.21 at 3:47 pm

Faron:

So, gender pay gap.

A 6-cent gap is quite different from the 30-cent discrepancy you were claiming.

I didn’t claim that. The number came from another poster and I didn’t support it. You are right that the work-for-work wage gap is relatively small and narrowing. But, it exists and if you integrate those dollars up it clearly puts women in a position of weaker earnings over a lifetime before you add in child rearing and all the other issues.

An important factor lies in the other numbers that show median wages across jobs are lower for women meaning that women tend to work lower paying jobs, face the birth penalty (while men get a birth bonus) and don’t negotiate for advancement among all the other factors. This factor indicates that a large sector of workers isn’t working to potential and the bulk of the low potential workers are women. That’s a problem even if the pay for work is non comparable. The simple fact that there is an earnings disparity is. a. problem. Full stop.

Prior to training, women and men have roughly equal propensity for most jobs save for those where physical strength is a strong plus. Because of this, it’s important to answer why going from pre-training point A to mid-late career point B women are in jobs that earn less and are earning less for the same jobs. It’s also important to solve this problem and the whole DNA and “mothering instincts” argument is nothing but a red herring.

No one should be surprised that it’s a bunch of men who are arguing this is not an important issue. That I am a man arguing against you arises because I have spent a lot of time learning from women who have both studied this issue and experienced these problems first hand. I’ve also witnessed women stepping down from well paying jobs because of sexual harassment which is another important factor in all of this.

…given that HR departments these days are around 87% female (unempirical observation on my part)…

I’ve seen that too, but HR does the paperwork on hiring and firing. The decision to hire or fire comes from management. Gender make-up of HR plays no role.

So why don’t they do it, and save money on staff costs in the process?

When have you seen a business, especially large business, that allocates capital in an ideal way? Right, never. Businesses are full of people and people make social choices and in making those choices, the bottom line is but one factor. Yes, it should be the most important, but it’s not the only factor whether there’s policy in place or no, whether it’s intentional or not.

But you are right, businesses with a more diverse workforce by gender and race perform better. It’s a no brainer to hire women of equal skill and make other moves to diversify your workforce. This is very likely true because it would comprise less of an old boys club and actually represent efficient capital allocation more than a gaggle of dudes back slapping at the golf course would.

#65 Bezengy on 02.09.21 at 5:25 pm

Crime pays, and until it doesn’t anything goes.

Today it was announced if you mistakenly received money through the CERB program, because you claim you didn’t know what $5000 of income was, you do not have to pay it back. If you did not apply because you were a good guy (person) and knew the rules you lose out. Tough bananas.

Kiddo owns a storefront and loses over 100K a year due to shoplifting, no one cares, can’t stop them, again, tough bananas.

Anyone who has dealt with the justice system knows exactly what I’m talking about. It’s hopeless.

#66 MF on 02.09.21 at 5:28 pm

Guy in Calgary on 02.09.21 at 3:54 pm
Nibbled at BTC when it was around $3750. Should have bought more, oh well.

Crypto is not going anywhere.

-That’s what they all say :)

Get any group of two or more sub 35 year olds together these days and you will hear stories about people selling btc coins for dirt cheap in 2013, losing their wallet passwords, only buying a little when they could have bought more etc.

Some even “know a guy who made millions from btc”…who usually lives at home and has never had a girlfriend, or even a job.

It’s like our generation’s version of our boomer parents telling us how our grandmothers threw out Superman comic issue 1, or that Babe Ruth rookie card “that no one thought would be worth anything” when they were cleaning the basement one day.

MF

#67 Shirl Clarts on 02.09.21 at 5:32 pm

The Reddit 5 second ad… just wow!

The arrogance.. what do they think they accomplished anyway
Their slogan should be… “I Reddit and got burned”.

They should be embarrassed for spreading misinformation, but instead they are calling it “rallying around something they care about.” Isn’t that called, going to University?

Hey Reddit, one day there’s a place for that. It’s called Prison.

#68 jim on 02.09.21 at 5:35 pm

ooooo….you’re such a tough guy Garth….capitalism is only for insiders eh?

#69 Faron on 02.09.21 at 5:37 pm

#53 TSLA on 02.09.21 at 4:49 pm

It has multiple rev streams

My fave revenue stream is fraudulent sales of non-existent full self driving software that can’t be transferred to newly purchased Teslas and only works on hardware “designed” to last five or fewer years before blanking out and/or being recalled because Tesla cheaped out on the component specs. What’s the term for obsolescence when something wears out? Oh yeah, disposable.

BTW: check out the newly announced electric Audi GT. Nearly 300mi range. Charges in 25 mins to 80% and 0% whompy wheels. 500+ horses too. Zoooom.

I won’t be buying a 100k car any time soon, nor would I ever buy a Tesla. But these 300 mi ranges are starting to look tasty.

#70 Sara on 02.09.21 at 5:41 pm

#64 Faron, “No one should be surprised that it’s a bunch of men who are arguing this is not an important issue.”

Sad but true. That you are a man, arguing for women, makes you a pretty cool guy in my book. :)

#71 Cici on 02.09.21 at 5:41 pm

Oh that JT guy is such a sweetie… so much so that he’s letting the home bakers who don’t know the difference between “gross” and “net” income keep the largess of government spoils:

“The other reprieve is for those who mixed up gross and net income, and were subsequently told they would have to return money to the government.

“People who accessed CERB based on their gross income instead of their net income, as long as you meet the other eligibility criteria, you will not have to return those CERB payments.”

The federal government says it doesn’t have an estimate of how much today’s measures will cost.”

https://ca.finance.yahoo.com/news/ottawa-announces-breaks-for-cerb-and-other-covid-19-benefit-recipients-174948118.html

#72 IHCTD9 on 02.09.21 at 5:44 pm

#32 Flop… on 02.09.21 at 3:54 pm
#16 IHCTD9 on 02.09.21 at 3:17 pm
#1 Flop… on 02.09.21 at 2:19 pm
Doesn’t appear that anybody got my Arkansas joke.
___

I got it Flop, you can ask Ms. IH, she heard me chuckling as I read it.

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

Thanks Trackie, I knew I could count on you to get my bit of blue collared humour.

———

Dad had a shitty old Homelite saw back in the day that liked to derail the chain. I knew whenever the chain came off when thru the trees would come “Man! I just HATE this [F]Arkansas!!”

#73 Stone on 02.09.21 at 5:47 pm

#35 Pat on 02.09.21 at 3:57 pm
#3 Classical Liberal Millennial

For a balanced all-in-one ETF, you can’t go wrong with VBAL/XBAL/ZBAL.

Until you have mucho dineros of course – then, a certain Mr Turner’s expertise with certainly help. :)

———

Yes, by all means, buy it. That is, if you like disappointment. Never buy something you don’t understand. If you understood, you would recognize that 40% of those all in one ETFs mentioned above are made up of aggregate bonds.

Where are bond interest rates heading? Uppa! Uppa! Uppa! What will happen to the 40% bond component of those all in ones? Downa! Downa! Downa! Ouch and yikes! 40% can severely impact your returns in the long run.

Garth has said it often enough here. Prefs! Prefs! Prefs! With interest rates at all time lows and now slowly rising, you need a counterbalance in your fixed income. As for bonds, be short term.

I’m sitting at 5.95% YTD with my balanced and diversified portfolio. Last year, 11.15%. I do my research and benefit accordingly. Do the same. Don’t rely solely on an investment “advisor” to make the decisions. It’s in your best interest to educate yourself to question that advisor. That’s how you learn whether to trust what comes out of their mouth.

But as always, why would anyone listen to me? This is where I sigh sadly.

Siiiggghhh.

#74 SoggyShorts on 02.09.21 at 5:54 pm

#64 Faron on 02.09.21 at 5:25 pm
#29 Howard on 02.09.21 at 3:47 pm
The simple fact that there is an earnings disparity is. a. problem. Full stop.
*******************
I’m not convinced. IMO it’s only a problem if the opportunities for entry are unequal, not the outcomes.
I’m pretty sure that in some instances a boys club does actually grant men more opportunities than women(and the #metoo movement doesn’t help) but I don’t believe it’s nearly as widespread as opinion articles make it out to be.
There was an interesting attempt at equal outcomes instead of equal opportunities where a Swedish university set aside 50% of STEM spots for women regardless of whether any men had better entrance qualifications, and they ended up having to fill spots with men anyways due to lack of interest.
That’s just one nearly anecdotal case, but it may turn out to be more widespread than that.
If JP is right, and men really are different at the far end of the spectrum then I’m not sure that can be “fixed” or if it even needs to be.

Men are more likely to take overtime and extra shifts as well as dangerous/icky jobs- are women really envious of that? I doubt it.
I mean how would you even balance that? Force coal mines to have 50% women on staff? Or disallow anyone from working overtime if not enough women take it?

#75 IHCTD9 on 02.09.21 at 5:58 pm

#60 Howard on 02.09.21 at 5:09 pm
#36 devore on 02.09.21 at 3:59 pm
So there goes literally every investment/finance discussion forum ever? Every time I mention in any way any security for any reason, I have to state whether I have a position in it? And who’s going to police millions of messages daily an pay for it? I’m sure the smart people in charge will figure it all out.

——————————-

I wonder if Justin Trudeau is now advising US financial market regulators? Because this sounds like the type of idea his three-neuron brain trust would come up with. Employ civil servants to spy and intervene in internet chatrooms.
— —

Trudeau is qualified to advise on proper application of hair styling products, and how to lay down a great coat of black paint – that’s about it.

#76 Sail Away on 02.09.21 at 6:03 pm

The gender wage gap myth is garbage in the same way as the millennial/boomer inequality myth and the Great Pacific Garbage Patch.

For the perceived inequalities it comes down to those who do vs. those who don’t. Gender is irrelevant. The Patch is greatly exaggerated hyperbole.

#77 mark on 02.09.21 at 6:07 pm

Got my T4E in today, for CERB money. Some will be scratching their heads trying to figure out how to pay the tax bill.

A lot of smart people are investing in Bitcoin, until it becomes mainstream and I can buy small amounts with my brokerage account I am waiting.

Ray Dalio has been on record saying he may have “missed” something with bitcoin and a store of wealth, he may very well be reconsidering.

Makes you wonder with more and more bigger players moving in, a lot of people “may” be missing something, until governments/brokerages in the mainstream start listing it and it becomes easy to buy like etfs, stocks, etc I am going to sit it out a bit more…..

#78 Do we have all the facts on 02.09.21 at 6:09 pm

There is no shortage of investment based companies that hype the potential of products they are peddling to the general public.

“Our products contain a number of companies that are at the same stage that Amazon was a few years ago. We are confident that our portfolio of assets will outperform the market over the next ten years”

The objective of all hype is to create investor confidence and increase the price. Once the price of a product begins to increase it gains a momentum that generates additional demand. It is similar to the efforts of a strongman trying to pull a bus. Once he gains a bit of momentum the hard work is done.

Using social media to offer an opinion that the price of houses will increase by 10% in 2021 or that the S & P 500 will hit 5,000 December cannot be controlled.

Buying large blocks of stock in an attempt to stimulate investor confidence has been going on for years and has even been encouraged by government. You don’t decide to inject $3 trillion into an economy without expecting the price of equities to increase.

My point is that the majority of unsophisticated investors can be easily influenced by the hype. The very idea that a cyber currency could ever replace a currency tied to a productive economy seems ludicrous to me and yet the hype seems to be increasing everyday.

We seem to be losing touch with reality and have accepted a world where facts and the truth have been replaced by propaganda and lies. I have no doubt this crazy period will end but I am not certain the world I once knew will emerge from the chaos.

#79 IHCTD9 on 02.09.21 at 6:10 pm

#51 Flop… on 02.09.21 at 4:47 pm

Still not sure everyone got that one either, since some of you guys have been going for hikes on the island I will rejig it.

When I go for a long hike my feet get Arkansas…

M46BC
— — ———

The other day I saw Trudeau and Harper sitting at a bar drinking up a storm and swapping stories. I told my wife the next day, “Hey, you’ll never believe what I Arkansas…”

#80 mattbg on 02.09.21 at 6:12 pm

Regulating pump & dump commentary sounds like a great idea, but how do you do that on reddit where everyone is anonymous and, even then, you have no idea if the stated trading position is true or not?

Honestly, I don’t know why anyone would believe anything they read about a stock online that they hadn’t cross-referenced or backtested for themselves. I mean, Jim Cramer has been around forever, and I can’t believe it’s not common knowledge by now that whenever you get a hedge fund guy in the media he (it’s usually a “he”) is just pushing things in the direction he wants them to go.

So I wonder if the best response here is just “live and learn”, and focus regulation on the ability of people with no experience to do things that can ruin their lives, like trade in options using leverage from their phone, or from shorting stocks that they don’t actually own.

#81 Born in Hamilton on 02.09.21 at 6:14 pm

#14 truefacts
“It is interesting that gold has outperformed the S&P since 2000”

I seriously doubt if that’s true when you include the dividends that the S&P 500 has paid out over that period. It’s especially doubtful when those dividends were reinvested. Also.. for any fair comparison you must figure in the cost to store and guard the gold.

#82 Kool Aid on 02.09.21 at 6:16 pm

With a robust derivatives market, a current supernova of excess liquidity linked to new found leverage and social coordination, well, hence major price distortions.

Some serious sovereign spending happening, inflationary policy MMT here soon? Why else are assets are being juiced everywhere, even in the ether?

I get the plea for balanced and diversified… if ever there has been a time, yes.

I’m sure we will all agree and fully appreciate these prophetic “pump & dump,” warnings soon enough, in the course of a full market cycle is my bet, stay safe, cheers.

#83 SunShowers on 02.09.21 at 6:18 pm

“If getting rich without working for it (because you’re smarter than everybody else) was actually a strategy then this blog would be all over it.”

Isn’t that essentially the definition of passive investment income? Making money without doing any actual work to make that money (hence the word ‘passive’)?

And wouldn’t you know, this blog is all over it!

Much like getting money from the government and speaking a foreign language, being paid for doing no work to earn it is something that is regarded favorably if you’re wealthy, but looked down on if you’re not.

The blog is not about getting rich through speculation, but rather leading a balanced life. – Garth

#84 NoName on 02.09.21 at 6:29 pm

I don’t get the joke from yesterday can some one kindly help me out with it. Id like to laugh to, but ill settle for chuckle or just grin.

Anyone.

Bonus video
https://youtu.be/lFD4joC5Yp0

#85 Long-Time Lurker on 02.09.21 at 6:39 pm

Zoolander 3. Script update.

As our trio leave the wheat field they turn around another bend in the Golden Bribe Road and see far in the distance the capital of the U.S.S.A. on a far away hill. As they walk closer to the city, they walk towards the towns on the outskirts of the capital.

Our trio walk into a town square where a crowd of Munchkins are watching the news about the on-going global pandemic on a large screen.

A female reporter with her cameraman standing past the crowd sees our trio and walks up to them saying:

Reporter, female: “Mr. Jerry, hello! Who’s your friend? He’s pretty good-looking. Can I interview him?”

Tin Man “Shawn Jerry”: “Of course.”

Reporter: “Mr. Scarecrow, what are your thoughts on the Cathay Commucrook virus that probably escaped from a lab in Hanwu, Cathay, and that the Cathay Commucrooks locked down their all cities but didn’t shut down their international flights thereby allowing the virus to spread all around the world killing two million people to date which is a crime against all humanity?” She says batting her eyelashes.

Prime Minister Zoolander remembering to play dumb (or is he?) says: “This pandemic really sucks.”

Reporter, female, visibly angry: “I should have known a scarecrow would have given me a brainless response. Let’s find someone else.”

She walks away with her cameraman.

The Tin Man and Cowardly Lion “Rich O’Donnell” chuckle to each other then say to PM Zoolander: “She works for us.”

PM Zoolander looks surprised….

#86 Long-Time Lurker on 02.09.21 at 6:40 pm

RSBN Flag of United States
@RSBNetwork

Convenient that they left this out of the opening video montage at the sham impeachment trial.

“Patriotically and peacefully…”
342.2K views
From
Jason Moore
10:24 AM · Feb 9, 2021·Twitter for iPhone

https://twitter.com/RSBNetwork/status/1359206661798387718

AMAZING! AERIAL SHOT OF TRUMP RALLY IN DC 1/6/21
619,013 views•Jan 6, 2021

https://www.youtube.com/watch?v=FmUVvmD5MQI

#87 Howard on 02.09.21 at 6:47 pm

Topical to today’s blog, and tragic:

https://www.cnbc.com/2021/02/08/robinhood-sued-by-family-of-alex-kearns-20-year-old-trader-who-killed-himself-.html

Frankly, in addition to Robinhood, the boy’s parents should be suing the Fed for turning the market into a grotesque casino.

#88 IHCTD9 on 02.09.21 at 6:56 pm

#76 Sail Away on 02.09.21 at 6:03 pm
The gender wage gap myth is garbage in the same way as the millennial/boomer inequality myth and the Great Pacific Garbage Patch.

For the perceived inequalities it comes down to those who do vs. those who don’t. Gender is irrelevant. The Patch is greatly exaggerated hyperbole.
— —

Yep, it’s illegal. Call the MOL. End of story. Nothing more to it.

The whole “gap” theory cap be applied to any demographic, not just Women. It’s a Swiss Army Knife.

If a bunch of specific examples are required where a Woman gets paid less in Canada just because she’s a Woman – the whole debate screeches to a halt. Because there are none.

Here’s the requirements for pay equality in Canada:

“Pay equality, or equal pay for equal work, refers to the requirement that men and women be paid the same if performing the same job in the same organization. For example, a female electrician must be paid the same as a male electrician in the same organization. Reasonable differences are permitted if due to seniority or merit.”

Some peeps here would have us believe this is not happening in Canada?

#89 Faron on 02.09.21 at 6:58 pm

#74 SoggyShorts on 02.09.21 at 5:54 pm

#64 Faron on 02.09.21 at 5:25 pm
#29 Howard on 02.09.21 at 3:47 pm

If JP is right, and men really are different at the far end of the spectrum then I’m not sure that can be “fixed” or if it even needs to be.

JP = Jordan Peterson? What do you mean by “different at the far end of the spectrum”? That’s interesting…

Barriers to entry. Do you think women choose not to mine because it’s dirty/icky? Or maybe it’s the bro culture that runs strong and deep through many aspects of mining? Might that count as a barrier? You wouldn’t see this because, as a man, some degree of bro culture is just accepted and normal. This is one of MANY barriers that you would only experience as a women (and probably kick yourself for capitulating to).

And, no, you wouldn’t count as “extra shifts” the jobs women work part time while also running a household even though the “time worked” would amount to 1.5 FTE. The pay wouldn’t reflect that either. And, commonly, women will work as long or as hard hours as men will if they are unburdened by household demands.

Socialized differences are strong and not helpful in our present society. My partner and I share cooking (yes, she’s a she) but when I cook she feels “guilty” or sometimes even worries that she’s done something wrong by not cooking. That comes directly from how she was socialized. She’s about as woke as they come, yet this persists in her.

What’s funny is that none of you have addressed the structural issue of having more than half the workforce (when you count race) working sub-potential.

This argument is pointless in this crowd. I’ll read your next comment, but I’m done.

#90 Faron on 02.09.21 at 7:04 pm

#76 Sail Away on 02.09.21 at 6:03 pm

Gender is irrelevant.

Fun! Thanks for settling this issue Sail Away. Can you remind us how many women are in leadership at your company? Any thoughts on why that number is zero? Icky work I guess.

#91 Faron on 02.09.21 at 7:08 pm

#70 Sara on 02.09.21 at 5:41 pm

Sad but true. That you are a man, arguing for women, makes you a pretty cool guy in my book. :)

Thanks. And you sound like a cool gal. I reckon you have a pretty good guy in your life to help make that marriage stick. Have a good evening. Watch out for polar vortexes. They’ll getcha.

#92 Faron on 02.09.21 at 7:14 pm

Curious how many on here are adherents to Jordan Peterson’s ideas? I’d love to see a vote, and I would like to claim I wouldn’t judge, but I can’t promise that. So, here’s an anonymous poll.

xoyondo.com/ap/Z51mB3D81f4T9Fb

#93 SoggyShorts on 02.09.21 at 7:15 pm

#73 Stone on 02.09.21 at 5:47 pm
#35 Pat on 02.09.21 at 3:57 pm
#3 Classical Liberal Millennial

For a balanced all-in-one ETF, you can’t go wrong with VBAL/XBAL/ZBAL.
———-

Yes, by all means, buy it. That is, if you like disappointment.

[VBAL IS BAD, BONDS, BLH BLAH)

I’m sitting at 5.95% YTD with my balanced and diversified portfolio. Last year, 11.15%. I do my research and benefit accordingly.

******************************
So last year you got 11% and VBAL got almost 9%
For anyone starting out I’ll bet that they wouldn’t beat VBAL without luck and a pretty significant amount of research.
Is that worth it at 7 figures? Of course, we’re talking about a $20,000 difference then.
But what about someone starting out at under 6 figures?
Hours and hours of research for a few hundred dollars with the risk of mistakes?
Nah.
The advise to buy VBAL/VGROW until well into the 6 figures is very solid.

#94 Bert on 02.09.21 at 7:22 pm

Bitcoin isn’t a dump. It’s a store of value similar to gold. That’s all it is. Considering the fact that there is $7T in global gold and less than $1T in bitcoin the latter likely goes a lot higher

#95 Nonplused on 02.09.21 at 7:23 pm

I don’t get the BitCoin thing. The fact is it is not suitable for widescale transactions as it is too slow and requires too much processing power (and thus electricity). Sure, it is anonymous, but I don’t see it rivaling the current electronic payment systems we already have (Visa, debit, e-transfers, etc.) any time soon, if ever. It doesn’t scale.

So then if Bitcoin won’t ever scale to be a useful transaction tool without sucking up all the world’s electricity and emitting huge amounts of planet destroying (sic) CO2, it’s just a supposed store of value. You buy it, put it in your “wallet”, and hope the price goes up and you don’t forget your password. No thanks, for that purpose I prefer good ol’ gold coins. At least that way you still have something when the power goes out. And if you forget where you buried them you can probably find them with a metal detector. Plus they are shiny.

Of course there is all sorts of talk of going to a “cashless” society but I don’t see that working either. How are you going to give a homeless person a couple of dollars if he needs to have a cell phone with a payment app? Or treat your mistress to dinner without your wife finding out? Or play poker with the boys? Or tip strippers? Or pay the kid down the street to shovel your driveway?

So the “cashless” society is out, and Bitcoin is never going to replace the already much more powerful and and way more efficient electronic system we already have.

And sure, fiat currencies fail all the time, the failure rate is near 100% over history, but another one comes along. It is just numbers. Could the US dollar fail? Some would argue it already has, just slowly. (Down 98% in purchasing power in 100 years.) But they will never run out of zeros, which is the nice thing about a notional accounting system. $20 is the new $2. The magic seems to be in controlling the inflation rate and thus keeping dollars somewhat scarce.

So ya, Bitcoin is a classic Ponzi scheme. No different than limited edition Beanie-Babies. Artificial scarcity of an item with no intrinsic value. One could argue gold has no intrinsic value but that is not true because it costs something to produce and it makes the best bling. One could argue that dollars have no intrinsic value and that would be true but it is a notional accounting system, so that argument is about as profound as saying numbers have no intrinsic value. Of course numbers have no intrinsic value. Having a 2 doesn’t mean much unless you know what you have 2 of. Dollars just allow us to evaluate dissimilar items. So if you have $10 dollars that might be 8 Slurpees or 1 Big Mac meal and 1 Slurpee. Or 3 liters of gas in BC.

#96 crowdedelevatorfartz on 02.09.21 at 7:23 pm

@#38 Lodn Tunderin Jayzuz Bye

“What are we buying?”

++++

I’m buying popcorn….gonna sit back.
Watch the show.

#97 Bert on 02.09.21 at 7:24 pm

Nor is E Musk a promoter. He is the greatest innovator history has ever seen.

#98 crossbordershopper on 02.09.21 at 7:25 pm

i remember talking to a guy in the 90’s when there were bucket shops in Toronto, he said its simple, its easier to sell paper to people then build a mine.
some people get up in the morning and go to work, and others get up and try to steal from people who go to work every day.
and as the french say, as things change, things stay the same. its just 2021 version of the same old story.
I tell you a story, and you get undressed, no im sorry give me your money. its all the same.

#99 crowdedelevatorfartz on 02.09.21 at 7:26 pm

@ Floppie

I got the joke but I was busy trying to give it a farkin saw misogynistic spin to annoy Pouting Ponzie.

#100 Capt. Serious on 02.09.21 at 7:27 pm

Bitcoin makes little sense. It costs energy to mine the coins. There is nothing unique about one coin versus another – we could literally create billions of different versions. Unlike a piece of art, which is unique, BTC only has mindshare at the moment. It is definitely an asset people can build castles in the sky with though, so who knows how high it will go.

#101 Brian on 02.09.21 at 7:28 pm

#77 mark

A lot of smart people are investing in Bitcoin, until it becomes mainstream and I can buy small amounts with my brokerage account I am waiting.

Ray Dalio has been on record saying he may have “missed” something with bitcoin and a store of wealth, he may very well be reconsidering.

Makes you wonder with more and more bigger players moving in, a lot of people “may” be missing something, until governments/brokerages in the mainstream start listing it and it becomes easy to buy like etfs, stocks, etc I am going to sit it out a bit more…..

You can thru 3iq – QBTC, QETH

#102 dosouth on 02.09.21 at 7:32 pm

…and this poor soul, uninformed investor & young left his family to clean up.

OUR SON KILLED HIMSELF OVER DEBT
… Thought He Was $730k in the Hole

#103 Nonplused on 02.09.21 at 7:36 pm

#50 Alberta Ed on 02.09.21 at 4:33 pm

“Of course, EV’s are not emission free, if you count the emissions generated during construction, especially the batteries.”

And charging them. When I look at my power bill I see carbon taxes there too.

#104 crowdedelevatorfartz on 02.09.21 at 7:38 pm

@#90 Faron
“Can you remind us how many women are in leadership at your company?”

++++

Well unless the leader/owner Sailio has a sex change.
Zero.

Are we back to the argument that there should be a 50/50 split in gender across the board at all work places?
Qualified or experienced …..Pfft.
Only gender equality matters.
Know wonder China is eating the West for breakfast.

Some jobs require more than a great resume’.
Just remember this conversation when
I’m sure you’ll be happy when your equality targets are met when a 140lb female firefighter is faced with hauling you or a loved one that weighs in at 250lbs….. unconscious butt out a window and down a ladder…..or you die.

But the city hired 50% female fire fighters
Hurray!

#105 Faron on 02.09.21 at 7:44 pm

#88 IHCTD9 on 02.09.21 at 6:56 pm

#76 Sail Away on 02.09.21 at 6:03 pm

Yep, it’s illegal. Call the MOL. End of story. Nothing more to it.

Oh yeah, right. Thanks. No one ever does anything illegal. I certainly have never. No drugs, no speeding, no littering etc. etc. So certainly no manager would even consider not giving a promotion or that little pay bump or the bonus. Nope, never. Boom. You nailed it!

#106 Nonplused on 02.09.21 at 7:44 pm

DELETED

#107 Tarot Card on 02.09.21 at 7:44 pm

Thanks for the blog Garth
The Vancouver market is crazy, every day some stock trades 20 million or more on absolutely zero news. Look at the most active stock today, and do not buy this stock I am just using this for illustration. But for entertainment get out the popcorn and see what happens tomorrow…..

VLI …..39 million shares today..went from six cents to 33 cents in one day. Really?
Read the comments on yahoo
This is going to the moon, get in before it goes to a dollar I bought 100,000 and on and on.
Silly me posted what’s all the hype and I get jumped on you know nothing about mining stocks get out of here. OMG!
Some posts then go on to quote GM building electric cars lithium is going to the moon, get in now.

I looked at the last news released by the company way back in December the company raised 700,000 for drilling.
So what happened.???? Today? Why why why???

The funniest comment was a guy who said I just bought at 39 cents now it dropped to 33 cents should I hold?
And yep the pumpers….hold it’s going to a dollar. Buy on the dips.

Just beyond belief, and every day it’s a different stock.
And thats Vancouver I was looking at some stock over the counter in the states….. drumroll please……. 150 million shares traded today really?

Meanwhile my balanced BMO Etfs move maybe five cents. But on the bright side I get 6 to 8 percent paid every month in dividends.
It’s called I sleep at night!

#108 IHCTD9 on 02.09.21 at 7:47 pm

#89 Faron on 02.09.21 at 6:58 pm

Barriers to entry. Do you think women choose not to mine because it’s dirty/icky? Or maybe it’s the bro culture that runs strong and deep through many aspects of mining? Might that count as a barrier? You wouldn’t see this because, as a man, some degree of bro culture is just accepted and normal. This is one of MANY barriers that you would only experience as a women (and probably kick yourself for capitulating to).
———

Holy mackerel… I’m starting to doubt your claims of Manhood. So, you assume all Men are cool with the “bro-culture” prevalent in hard labour work? WTF? I’ve sat and cringed at lunch tables countless times praying for the bell to ring. I wouldn’t see this as a Man? It’s normal? What ******* planet were you born on? Are the rest of us Men all blind, deaf and stupid – except for you?

This post is an unbelievably ignorant, steaming pile of horse shit.

It’s hard to believe a Man with even a little bit of experience with the subject matter on which he chooses to opine could have written a post like this…

#109 Nonplused on 02.09.21 at 7:50 pm

#72 IHCTD9 on 02.09.21 at 5:44 pm

Dad had a shitty old Homelite saw back in the day that liked to derail the chain. I knew whenever the chain came off when thru the trees would come “Man! I just HATE this [F]Arkansas!!”

—————————–

Sounds like nobody ever showed him how to use the chain tightening tool that comes in the box.

#110 Nonplused on 02.09.21 at 7:55 pm

#75 IHCTD9 on 02.09.21 at 5:58 pm

“Trudeau is qualified to advise on proper application of hair styling products, and how to lay down a great coat of black paint – that’s about it.”

I read today about a woman who is suing the Gorilla Glue company because she ran out of hair spray and glued her hair to her head, causing obvious discomfort. I am sure if it goes class action Trudeau might join.

#111 TMac on 02.09.21 at 7:58 pm

“So the regulator is mulling a requirement which would force anyone who is pumping or dumping a stock to publicly disclose if they have a long or short position in that company.”
Of course that will only apply to the little guy who has a potential to gain. As, citron announced earlier last week that they would no longer disclose any short positions they hold.
Rules for thee but, not for me.

#112 ogdoad on 02.09.21 at 7:59 pm

Great words (like always) and I agree with your last statement. When you are constantly bombarded, from above, on how life is and supposed to be, based on ideas and someones rituals, the first thing I would want to do as a 20 som’n year old is say ‘ya I know’. When all i see as a 20 som’n year old is stock market ups and downs, billionairs on Youtube, nice cars, skimpy clothing…so on and so forth, all I want to do is what my peers are doing…question is – if someone rich told you that tomorrow 100$ would be 1000$ would you? I would, b/c hope would squash the fear of losing 100$

101 will win

#113 Faron on 02.09.21 at 8:07 pm

#109 IHCTD9 on 02.09.21 at 7:47 pm

#89 Faron on 02.09.21 at 6:58 pm

Holy mackerel… I’m starting to doubt your claims of Manhood. So, you assume all Men are cool with the “bro-culture” prevalent in hard labour work? WTF? I’ve sat and cringed at lunch tables countless times praying for the bell to ring

Cool, so you admit it exists in your field too? I’ve also experienced it while working at a warehouse and never said everyone just accepts it. But it sure exists, right? And you are arguing that such garbage represents a workplace that women would happily jump into? Or at the very least doesn’t represent a barrier to entry? It’s not the jobs that are icky, it’s the people working them, right? And human behaviour can be changed, shovelling shit can’t.

And f you for attempting to insult my masculinity as a weak arse means of argument. That’s low bro. And unsuccessful.

#114 Faron on 02.09.21 at 8:09 pm

#105 crowdedelevatorfartz on 02.09.21 at 7:38 pm

@#90 Faron
“Can you remind us how many women are in leadership at your company?”

++++

Well unless the leader/owner Sailio has a sex change.

Sometimes people take tropical holidays to “recover” from such. Maybe trying to meet a Trudeauian gender quota?

#115 IHCTD9 on 02.09.21 at 8:10 pm

#87 Howard on 02.09.21 at 6:47 pm
Topical to today’s blog, and tragic:

https://www.cnbc.com/2021/02/08/robinhood-sued-by-family-of-alex-kearns-20-year-old-trader-who-killed-himself-.html

Frankly, in addition to Robinhood, the boy’s parents should be suing the Fed for turning the market into a grotesque casino.
— ——- –

Ironically, they are also being sued for restricting trades on GME, AMC, etc…

Frankly, it’s probably a good thing that a shit storm whips up in the wake of these retail investors getting plowed under.

#116 WDL on 02.09.21 at 8:11 pm

Another Garth bash on silver by the blog god. I bought Silver for $6.50 an ounce in the mid 2000’s and bought Silver Wheaton for $4.00. I sold them about 2011 for $45 and $40 respectively and then put them into solid balanced portfolios. I kept my balanced portfolio but two years ago, I jstarted buying Silver and Silver stocks. I am now up exponentially. I plan on holding for 4-5 years. I’ll let you know how I make out blog god.

#117 DON on 02.09.21 at 8:12 pm

@crowded

A bear’ eh! Never came accross a bear that did that…heard about it many times though, you made the RIGHT choice. Lots of resident bears on certain beaches up there and they go about their business regardless of humans, but yes I would have turned around and postponed the trip if I saw a bear doing that.

Reminds me of that 80s movie where the grizzly stalked those guy(s). Next time I go hiking there…I will be reminded of your experience as I pull into the parking lot and grab my pack.

Been stalked by cougars before, more in downtown Vancouver than on the West Coast…hehe.

Back to the COVID BUBBLE mentality.

#118 crowdedelevatorfartz on 02.09.21 at 8:12 pm

@#108 Tarot card
“The Vancouver market is crazy, every day some stock trades 20 million or more on absolutely zero news.”

++++

I’ve worked downtown since the early 80’s.
I’ve had friends who worked as promoters at the VSE.
I’ve worked in buildings with boiler room operation that were raided and shut down.

The best advice I ever heard in the mid 1980’s was early one morning on National US tv when Barron’s editor Alan Abelson was asked about the VSE.

” If anyone from the VSE calls with a stock tip…..hang up.”

#119 Nonplused on 02.09.21 at 8:15 pm

#92 Faron on 02.09.21 at 7:14 pm

“Curious how many on here are adherents to Jordan Peterson’s ideas?”

Jordan rocks. He isn’t right about everything, but he is a glowing beacon on the hill trying to guide everyone away from victim culture. His lectures on how everything from bible stories to Disney cartoons give insights into the human condition are also worth watching even if you don’t agree with his conclusions.

I’m going to guess most of Garth’s followers might find some of what JP says if not similar at least reinforcing. JP’s admonition to “clean your own room first” isn’t that much different than telling people they need to handle their finances responsibly. It all comes from the same basic premise, you don’t have standing to give advice unless you have followed your own advice in your own affairs and it has worked out for the better.

Anyway I love watching him debate lefties. He’s even better than Shapiro, Rogan, Tatum, D’Souza, and Adams. He may go on to challenge Hitchens (the older, although the younger is pretty good too although they disagreed on a lot) and maybe even Sowell, although I am not sure that is possible by a mere mortal.

#120 DON on 02.09.21 at 8:16 pm

Garth

Did you let the Amazons go?

Ney a mention in a long long time.

#121 Nonplused on 02.09.21 at 8:20 pm

#107 Nonplused on 02.09.21 at 7:44 pm
DELETED

Oh come on! I was just pilling on a joke that was just as bad! That you didn’t delete!

Oh well at least I didn’t spend a lot of time on it.

#122 Faron on 02.09.21 at 8:24 pm

#109 IHCTD9 on 02.09.21 at 7:47 pm

#89 Faron on 02.09.21 at 6:58 pm

It’s normal?

So, you are saying it’s not normal even though you have seen it and been annoyed, I have seen it and been annoyed, and presumably almost every man who has worked in a “manly” job has also seen it? That sounds hyper prevalent if you ask me. So, what are you saying? You didn’t like it and left the job? Or you tolerated it however cringingly and carried on so women should do the same? Or just jump right in and accept it as the cost of doing business even though it’s going to be even less appetizing?

Love it guys. Now you just need The Jaguar to weigh in and give you her womanly seal of approval and you’ll have it locked up. The 1980s are yours. Signed, sealed and delivered. Enjoy it.

#123 Dogman01 on 02.09.21 at 8:26 pm

#77 mark on 02.09.21 at 6:07 pm

“until governments/brokerages in the mainstream start listing it and it becomes easy to buy like etfs, stocks, etc”

Try QBTC on TSE ETF.

https://www.theglobeandmail.com/investing/article-want-to-bet-on-bitcoin-heres-a-canadian-etf-to-consider/

High fees but there you go.

#124 Uppa Uppa on 02.09.21 at 8:26 pm

https://www.reuters.com/article/us-crypto-currency-apple-idUSKBN2A82I4

Apple positioned to offer cryptocurrencies: RBC report

#125 the Jaguar on 02.09.21 at 8:27 pm

“It’s about cheating people, especially those who can least afford it.” -GT

What’s so repugnant is the ‘swarm mentality’ that accompanied the whole debacle. I didn’t follow it too closely as it’s not really my kind of news item, but a quick look revealed the mob mentality aspect. The bullies, the cancel culture people, the ones that love to play identity politics. Morrissey was right when he said the world was full of crashing bores.
Cheating people who can least afford it was reckless.

Those two Yorkie’s are adorable. If you like tiny dogs.

#126 George on 02.09.21 at 8:29 pm

Bitcoin isn’t a dump. It’s a store of value similar to gold. That’s all it is. Considering the fact that there is $7T in global gold and less than $1T in bitcoin the latter likely goes a lot higher

………

‘that’s all it is’ ..

incorect . it has utlity . Square, Paypal allow for transactions using BTC. …the snowball is in up the hill ..:)

#127 the Jaguar on 02.09.21 at 8:30 pm

@#109 IHCTD9 on 02.09.21 at 7:47 pm

Do you own a Taser?

#128 Flop... on 02.09.21 at 8:32 pm

Undercover Billionaire.

It’s a show on Discovery Channel.

The first series I missed the start because I had Undercover Boss in my head and thought I’m not watching that.

The challenge essentially is you get dropped of in an American city that you’ve never been to before, given an alias, one hundred dollars and an old truck.

You have 90 days without using your existing network to make 1 million dollars.

You don’t have to make an actual million, you can start a company and get an independent valuation of one million.

In the original series banker Glenn Stearns was dropped off in struggling Erie, Pennsylvania and eventually started a BBQ restaurant after doing well in some competitions.

He fell short of the target, can’t exactly recall but 750k valuation rings a bell, but because he lost he had to chuck a million into the pot, but the people that helped him get to keep their jobs and I think some of the big players got a share of the profits.

Anyway, the new COVID effected series has it way harder than Glenn Stearns had it.

This series has three participants, two of them wanted to do something real estate related but it had be hard to establish a deal and get all the relevant permits in 90 day.

One woman, Monique Idlett-Moseley, is in Tacoma, Washington and is try to establish a fruit/vegetable mobile health shot business where eating healthy is a challenge.

Another woman, Elaine Culotti, is in Fresno, California try to turn a struggling restaurant into a delicatessen/grocer, because apparently downtown there is a void that needs filling in that department

The guy, Grant Cardone, is in Pueblo, Colorado, he got of to the best start but then got COVID and is house bound -the clock keeps ticking, I think.

The main reason for this post is because America seems to way more affected than Canada by this pandemic and so in a spin-off series Undercover Billionaire-Comeback City, Glenn Stearns has decided to go back to the city he helped, Erie, because so many businesses are hitting the wall there and lots of people reached out to him.

He has only 27 days to help the guys.

Why 27 days?

Because that’s apparently what the average small business has 27 days in cash reserves.

Some people got sidetracked because Glenn Stearns is not actually a billionaire and I’m not sure the other 3 are as well, but they are very successful people and the last time I ran the article there were only 660 billionaires in the United States.

That number shrinks to 44 billionaires in Canada.

I would still watch it if it was called Undercover Half-Billionaire…

M46BC

#129 IHCTD9 on 02.09.21 at 8:44 pm

#110 Nonplused on 02.09.21 at 7:50 pm
#72 IHCTD9 on 02.09.21 at 5:44 pm

Dad had a shitty old Homelite saw back in the day that liked to derail the chain. I knew whenever the chain came off when thru the trees would come “Man! I just HATE this [F]Arkansas!!”

—————————–

Sounds like nobody ever showed him how to use the chain tightening tool that comes in the box.
— –

Well, at that point, he had been running a chainsaw for about 44 years, so more likely it was just a junk saw. I never asked him what the issue was.

He bought the thing only because Homelite bought out Lombard, he had an old Lombard Cyclone that was his first love. The Homelite fell well short, and his next saw was a Stihl, and the rest is history. Nothing but Stihl from there on in till about 2 years ago when he finally got propane due to age.

#130 the Jaguar on 02.09.21 at 8:50 pm

#128 the Jaguar on 02.09.21 at 8:30 pm
@#109 IHCTD9 on 02.09.21 at 7:47 pm

Do you own a Taser?
+++

Wow! I hadn’t even seen the post above mine where the Climatologist referenced me when I posted the above to make IHDCT9 giggle. It’s a little creepy, his obsession with me. Ugh.

I’d stick around for more, but I promised Sail Away I’d spend some time giving him twerk lessons so he has all the right moves when he climbs up on the hood of the tractor. Ciao.

#131 Dr V on 02.09.21 at 8:54 pm

70 Sara – don’t go down that road

#132 SoggyShorts on 02.09.21 at 8:54 pm

#89 Faron on 02.09.21 at 6:58 pm
JP = Jordan Peterson? What do you mean by “different at the far end of the spectrum”? That’s interesting…
**********************
Yes, Jordan Peterson. To paraphrase him badly: Men and women are far more alike than not, but at the extremes, men are… more extreme.
E.G. Men and women are close when it comes to aggression, like if you randomly picked one of each the man would be more aggressive 60% of the time. But, out of 100 people, the most aggressive will always be men.
In the workforce, this presents itself in various forms including raises and promotions to overtime hours, extra shifts, and more.

https://youtu.be/Iy4vq8RdPGU?t=228
————————————–

#89 Faron on 02.09.21 at 6:58 pm
Barriers to entry. Do you think women choose not to mine because it’s dirty/icky? Or maybe it’s the bro culture that runs strong and deep through many aspects of mining? Might that count as a barrier? You wouldn’t see this because, as a man, some degree of bro culture is just accepted and normal.
******************************
No, I think everyone chooses not to mine coal because it’s dirty/icky/dangerous.
I think it may be somewhat bro culture but the opposite of how you’re putting it. It’s not keeping something good away from women, it’s something crappy that we have come to accept.
—————————————

#89 Faron on 02.09.21 at 6:58 pm
And, no, you wouldn’t count as “extra shifts” the jobs women work part-time while also running a household even though the “time worked” would amount to 1.5 FTE. The pay wouldn’t reflect that either.
************************
That’s neither here nor there, as an employer, I couldn’t care less how many other jobs or household hours you work, I paid my people according to this job.
Do women, in general, do more around the house? Probably, but I see that as a separate per-case issue.
I can’t imagine that anyone under 60 get’s away with “A woman’s place is in the kitchen” anymore.
——————————

#89 Faron on 02.09.21 at 6:58 pm
And, commonly, women will work as long or as hard hours as men will if they are unburdened by household demands.
**********************************
I’ve seen no study showing that, but admittedly haven’t looked very hard.
I have found that regardless of household burden, the total number of overtime hours worked is generally higher for men. Certainly, some of this is due to women taking on more household tasks, but that has nothing to do with equal pay for equal work.

Men worked on average 40h women 33h
https://www150.statcan.gc.ca/n1/pub/71-222-x/2008001/sectionh/h-hours-heures-eng.htm

“When overtime hours are scheduled three months in advance, men sign up for about 7% more of them than women. When overtime is scheduled the day before or the day of the necessary shift, men work almost twice as many of those hours as women.”

“men take 48% fewer unpaid hours off and work 83% more overtime hours per year than women”
https://scholar.harvard.edu/files/bolotnyy/files/be_gendergap.pdf
—————————————

#89 Faron on 02.09.21 at 6:58 pm
What’s funny is that none of you have addressed the structural issue of having more than half the workforce (when you count race) working sub-potential.
*************************
I don’t understand what you mean by this. How is half of the workforce being used sub-optimally and how does race fit in?

#133 IHCTD9 on 02.09.21 at 9:02 pm

#114 Faron on 02.09.21 at 8:07 pm

…And you are arguing that such garbage represents a workplace that women would happily jump into? Or at the very least doesn’t represent a barrier to entry? It’s not the jobs that are icky, it’s the people working them, right?
—— —-

No one happily jumps into a job like that homie. Not even Men.

We DO notice it.

It AIN’T Normal.

It’s NOT a barrier experienced only by Women.

That’s the point.

#134 Gravy Train on 02.09.21 at 9:03 pm

#104 Nonplused on 02.09.21 at 7:36 pm
“And charging them. When I look at my power bill I see carbon taxes there too.” It’s a shame you don’t get solar panels. Almost half (48%) of my energy consumption is produced by my solar panels, and, with a 10-year payback and a 25-year guarantee on the panels, I get at least 15 years of free energy. It’s too bad you can’t do basic math. :P

#135 IHCTD9 on 02.09.21 at 9:14 pm

#123 Faron on 02.09.21 at 8:24 pm
#109 IHCTD9 on 02.09.21 at 7:47 pm

#89 Faron on 02.09.21 at 6:58 pm

It’s normal?

So, you are saying it’s not normal even though you have seen it and been annoyed, I have seen it and been annoyed, and presumably almost every man who has worked in a “manly” job has also seen it? That sounds hyper prevalent if you ask me. So, what are you saying? You didn’t like it and left the job? Or you tolerated it however cringingly and carried on so women should do the same? Or just jump right in and accept it as the cost of doing business even though it’s going to be even less appetizing?
—- ———-

I’d say yes, very prevalent in the 80’s maybe today too, but I don’t work those jobs any more.

What am I saying? The barrier you ascribe solely to Women, is an equal barrier to Men. The vast majority of Males do not want to hear that shit. There is no difference what sex does the job, the BS is equal for both sexes and all 654.8 genders. Just because you are Male, does not make any of it cool or “normal”.

Yes we do notice, just like a Woman would…

#136 Sans on 02.09.21 at 9:17 pm

Tesla may not be in the top 10 producers NOW… but if they’re not producing over 5 million cars/year by mid decade you’re welcome to stick your proverbial tongue out at me!

P.S. check the neat drone vids on YouTube of their Berlin/Austin giga (or should I say, tera) factory progress – cars will be hot pressed off the line from both within the year.

#137 S.Bby on 02.09.21 at 9:19 pm

Bitcoin is too volatile to be used as a medium of exchange. Can you imagine if the dollar fluctuated as wildly as Bitcoin does?

#138 Stone on 02.09.21 at 9:20 pm

#93 SoggyShorts on 02.09.21 at 7:15 pm
#73 Stone on 02.09.21 at 5:47 pm
#35 Pat on 02.09.21 at 3:57 pm
#3 Classical Liberal Millennial

For a balanced all-in-one ETF, you can’t go wrong with VBAL/XBAL/ZBAL.
———-

Yes, by all means, buy it. That is, if you like disappointment.

[VBAL IS BAD, BONDS, BLH BLAH)

I’m sitting at 5.95% YTD with my balanced and diversified portfolio. Last year, 11.15%. I do my research and benefit accordingly.

******************************
So last year you got 11% and VBAL got almost 9%
For anyone starting out I’ll bet that they wouldn’t beat VBAL without luck and a pretty significant amount of research.
Is that worth it at 7 figures? Of course, we’re talking about a $20,000 difference then.
But what about someone starting out at under 6 figures?
Hours and hours of research for a few hundred dollars with the risk of mistakes?
Nah.
The advise to buy VBAL/VGROW until well into the 6 figures is very solid.

———

Investing in yourself is the best thing you can do for yourself. Soggy, you don’t normally say dumb stuff but today, that was really dumb. If you think investing a few hours is too much effort, I don’t think I’ll convince you otherwise but I’ll share the following regardless. Hopefully for others who maybe can consider the longer term implications.

What did I do? I took the Canadian Securities Course 23 years ago when I was 22. It was well worth every penny. Time invested: 3 months. How many years did you waste going to school post secondary to get a job? More than 3 months?

Do you know why I took that course? I was making a $23,000 salary at the time (if you could even call it a salary) and I knew that even with promotions (yes, they came quickly) and raises (got lots of those too), it was going to be a long slog towards any financial independence. I only had a few thousand bucks to my name. I needed to make my money work for me, not the other way around. Retire at 65? Shit!

In 2016, I found this blog. Financial education and entertainment in a neat little package. My knowledge expanded further and my investment portfolio compounded even faster however I also knew how to parse the nuggets within it from the crap.

23 years later, my net worth post-tax grows more each month than what I earned pre-tax for a full year when I was 22. Actually, it’s way more than that. I don’t own real estate. I don’t run a business. I’m no longer a wage slave. I only have my balanced and diversified portfolio. I also own 100% of my time.

But go ahead. Tell others they shouldn’t bother investing a bit of their time into improving their financial literacy because until they hit some arbitrary 6 figure financial target, it’s not worth the effort. Just go ahead everyone and be mediocre. Of course, financial literacy shouldn’t be taught in school either. Why poison our precious youth with such blasphemy. Ignorance feeds everyone else and will leave you dry. You will never, ever, get that lost time back.

By the way, how’s VBAL/XBAL/ZBAL doing in 2021? Is it anywhere near 5.95% YTD? I don’t wonder why. I know why it’s lagging. Being complacent, especially in your 20s has very harsh consequences long term. Blah blah blah.

#139 Triplenet on 02.09.21 at 9:25 pm

Flop,
I remember watching a History Channel documentary about a couple of archaeologists riding donkeys in the Turkey outback – up around Mt. Ararat, when they came up over a steep ridge, there in the valley, wedged in the rocks was the largest ship made of wood they had ever seen.
They turned to their TV crew and logistics people and declared – Arkansas !

#140 Eco Capitalist on 02.09.21 at 9:25 pm

Anyone remember the radio and TV ads:

We make our money the old fashioned way…we earn it.

I always liked those.

#141 Faron on 02.09.21 at 9:27 pm

#89 Faron on 02.09.21 at 6:58 pm
What’s funny is that none of you have addressed the structural issue of having more than half the workforce (when you count race) working sub-potential.

*************************

I don’t understand what you mean by this. How is half of the workforce being used sub-optimally and how does race fit in?

Follow me:

If you have women earning less in terms of median wage which we all agree on given that the majority of that difference is taken up by differing job choices. The same is true for minorities of any gender (speaking for the US here) — much lower median wages. If you agree that each human is as capable as the next regardless of race or gender (save for some physical strength differences between men and women). If we agree that wage reflects skill. Then the conclusion is that women and minorities are, as a whole, working less skilled jobs than they are capable of. Do you follow that? It’s straight logic based on the facts we have. The extension of that is that the economy is missing out on a hunk of productive skill owing to that distribution and an economy is best served by maximizing the capabilities of its workers crudely speaking.

A simplistic analogy. You have a field and you grow potatoes on it thinking that it’s the maximal use of the land’s capability to yield profit to you. Just potatoes, but boy do they grow. One day, a person shows up at your door and asks to talk. You sit down for a tea and this person informs you that an aerial geomag survey revealed that there may be a massive ore body beneath your field, or an adjacent seismic survey indicated you may have a gusher of oil waiting to be tapped. They run the numbers and suggest that you could get 10 times the value from your land if you switch from potatoes to mining. Do you just stick with the role your land has always had or do you switch to the higher intrinsic value of your property?

Do I think these distributions should be enforced? No. But, I think we as a society need to think about how people are socialized into the roles that wind up being their careers and if there’s anything to be done about that. Many who post here discard that line as “wokeness” and now that they have a name for it, just discard the idea. Doing so serves no one and that’s the part I don’t get. This arguing so strongly for a sub-optimal status quo. Or, I do get why this happens, but my understanding is in sharp contrast to everyone I’m arguing against here.

#142 crowdedelevatorfartz on 02.09.21 at 9:29 pm

@#118 DON
“Never came accross a bear that did that…heard about it many times though, you made the RIGHT choice.”

++++

In ALL the years I have been hiking.
I’ve only seen bears twice.
THAT particular bear circled around behind us and disappeared .
As we were walking back to the parking lot we came upon a HUGE bear crap on the boardwalk path…….

A comment on my hiking attire Im sure…… either way.
We were VERY relieved to get to the truck.

One wonders how many times we were hiking and totally unaware of the omnivorous animals watching us.

About 25 years ago I did a road trip up to the Yukon with a buddy from Vancouver who had family in the Yukon ( free accommodation !).
On the way back we stopped at Liard Hotsprings.
I parked in the lot and we walked in on the boardwalk and checked out the lower hotsprings.
Basically a concrete pool with change rooms…kinda gross.
It was full of German tourists and we decided to check out the upper hotsprings.
We walked up to the upper springs and the pool was a big dirt pond that was warm….not hot.
What the hell.
Jumped in splashed around made lots of noise for about 20 minutes.
Walked back down to the lower springs…..
Ghost town. Nobody. towels, cigarette packs, coke cans, everything there except people.
Weird but wtf.
Jumped in THAT pool and just about burned alive!
Yelling screaming laughing and eventually sat in the pool.
Thump Thump Thump came the sound of boots running up the boardwalk from the parking lot.
TWO park wardens with shotguns screeched to ahalt and stared at us and we stared at them.
“Where are the bears?”, they demanded.
“What bears?”
“The sow and cubs that chased everyone out of here”….
“Didnt see any bears…”
“You guys better get outta here.”
The wardens asked us if we had been at the upper pool and we told them yup…
They left.

We grabbed our towels and walked down the boardwalk to the truck, scratching our heads.

Several weeks later ….. this happened.

https://www.washingtonpost.com/archive/politics/1997/08/17/bear-mauls-2-to-death-in-canada/671020ad-559d-4f1e-81a5-978c884c747d/

Sometimes you get lucky.

#143 Drill Baby Drill on 02.09.21 at 9:29 pm

Goliath and Samson have me quivering in my boots.

#144 IHCTD9 on 02.09.21 at 9:40 pm

#131 the Jaguar on 02.09.21 at 8:50 pm
#128 the Jaguar on 02.09.21 at 8:30 pm
@#109 IHCTD9 on 02.09.21 at 7:47 pm

Do you own a Taser?
+++

Wow! I hadn’t even seen the post above mine where the Climatologist referenced me when I posted the above to make IHDCT9 giggle. It’s a little creepy, his obsession with me. Ugh.

I’d stick around for more, but I promised Sail Away I’d spend some time giving him twerk lessons so he has all the right moves when he climbs up on the hood of the tractor. Ciao
—— –

No, no tasers here. But much, much worse is present. About 31,500 lbs worth :).

Oh, and if you’re going to give SA some twerking lessons, ahh… in person, I think I need to be there too. My party dozer, then my liability right? Just so, uh, you both can navigate that expansive TD-9 hood. The stack and intake are definitely a uhh, trip hazard. Safety first Ja?

Plus, I think I still have a couple of “only used once” pairs of leopard skin thongs from the last Village People concert I attended stashed away. I can bring them along!

#145 crowdedelevatorfartz on 02.09.21 at 9:43 pm

@#142 faron
” Or, I do get why this happens, but my understanding is in sharp contrast to everyone I’m arguing against here”

++++

Sorry brudda…
I fell asleep after “Follow me…..”

#146 Where's My Money Going Greedeau? on 02.09.21 at 9:45 pm

Re: Garth says “That’s a big hammer. And the odds are this would be adopted Canada-wide by the Canadian Securities Administrators and IIROC (the very scary dudes with quasi-judicial powers who regulate quivering financial advisors like moi).”
+++++++++++++++++++++++++++++++
LOL
Securities. LOL.
This says it all how “secure” they are: https://o.canada.com/news/local-news/vancouver-condo-developer-sentenced-to-six-years-in-u-s-prison-for-real-estate-fraud

The US even had Chandler extradited from BC where he faces 70+ lawsuits for “fraudulent” behaviour.

Where is RCMP in this, sitting with their feet up in Surrey’s $1B headquarters with 500-1200 seat pub:
…from above story, “In B.C., Chandler has also been the target of enforcement action from regulators, before and after his time in L.A., including accusations he mishandled more than $10 million of homebuyers’ deposits after returning from California, for a Langley condo project called Murrayville House.

The Murrayville fiasco caused serious hardship for dozens of hopeful homebuyers, as one B.C. Supreme Court judge noted in a 2018 judgment in one civil lawsuit, calling the situation a “house of cards” that left behind “no winners.” At one point, the B.C. RCMP was investigating Chandler’s actions at Murrayville, but told Postmedia in December 2019 they were no longer reviewing the matter.”

The US judge gave him more jail time than their own prosecutors wanted to sentence Chandler.

You have to read his decision to see how he beats Canadian Regulators.

We need more instances of retribution in Kanadur.
Not even a semblance of justice for many who lost out.

#147 IHCTD9 on 02.09.21 at 9:53 pm

#111 Nonplused on 02.09.21 at 7:55 pm
#75 IHCTD9 on 02.09.21 at 5:58 pm

“Trudeau is qualified to advise on proper application of hair styling products, and how to lay down a great coat of black paint – that’s about it.”

I read today about a woman who is suing the Gorilla Glue company because she ran out of hair spray and glued her hair to her head, causing obvious discomfort. I am sure if it goes class action Trudeau might join.
———

How could she have known? It totally looks like hairspray…

GG’ll win the case obviously, and hopefully they make a commercial out of it.

#148 Can't Unsee on 02.09.21 at 10:03 pm

Can’t unsee the events of the last few weeks. The game is fixed. We all knew it, but now we are certain. Garth can blabber on the way only he can. But in the end the game favours the house. More populism to come, you can bet on it.

#149 IHCTD9 on 02.09.21 at 10:04 pm

#122 Nonplused on 02.09.21 at 8:20 pm
#107 Nonplused on 02.09.21 at 7:44 pm
DELETED

Oh come on! I was just pilling on a joke that was just as bad! That you didn’t delete!

Oh well at least I didn’t spend a lot of time on it.
——-

Crap! That was an Arkansas joke wasn’t it?

Must have been a goodie!

#150 Sara on 02.09.21 at 10:09 pm

#146 crowdedelevatorfartz on 02.09.21 at 9:43 pm
@#142 faron
” Or, I do get why this happens, but my understanding is in sharp contrast to everyone I’m arguing against here”

++++

Sorry brudda…
I fell asleep after “Follow me…..”

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

It’s OK Crowdie. Not everyone can be as intellectually gifted and educated as Faron is. At least you are good with your hands and make a good buck. Who cares that you are short a few brain cells?

#151 S.Bby on 02.09.21 at 10:10 pm

#141

That was Smith Barney with John Houseman as the spokesman. And I didn’t Google that.

#152 Puregreed on 02.09.21 at 10:12 pm

Some of us fill our lives with love or family…some want to hug and kiss a bank balance each night and burn their short time on earth chasing money. No care for the needy or vulnerable just a celebration of selfish greed. I’m shocked at your callousness and total lack of care for the working people that power this country. Most of your followers begrudge vaccination to protect our elders. Why are you even doing this? You’re worse than the realtors at this point.

#153 TurnerNation on 02.09.21 at 10:14 pm

#83 Drinking on 02.08.21 at 7:08 pm
You could remind them this is what’s likely coming their way. Today’s news from TSF.TO. Same thing as FD.TO has rolled out to an airline and labour union.
We are cattle to the globalists: control over our feeding, breeding and travel/movements (the biggie)
Bag em and tag em.
This weblog says Pandemics come and go.
I mean no one I know across deep networks knows anyone with even a sniffle. For the past 9 months. So, yeah. Not a work from blog dogs. Only the telescreens to remind us
Butt his tracking $ is here to stay. Embedded into organizations:

“Tracesafe Inc. has reached an agreement to supply a global Tier 1 semiconductor manufacturer with 60,000 wearable units to be used across its enterprise.

This order has the potential to be the biggest corporate wearables order in history and represents the next phase of Tracesafe’s product growth. For an order of this magnitude, Tracesafe has deployed its next generation of wearable products, which can be processed and paired within seconds. Comparable products on the market that use similar Bluetooth technology to pair contact tracing devices (bracelets, clips or badges) with smart phones typically take up to three minutes per device to pair”

Tracesafe touts wearable safety tech use in Singapore
Tracesafe enters cruise liner partnership with Tritan
Tracesafe tech used at Edmonton hockey championships

FD.TO:
“TraceScan V2 features an extensive set of enhanced functionalities aimed at providing key health and safety benefits while improving upon the usual shortcomings of typical Bluetooth devices (which are not GPS-based) such as accuracy, data management, privacy considerations and vital sign monitoring capability. For example, the new functionality will include proprietary beacon technology allowing enterprise users to (anonymously) track interzonal-movement within their premises by wearable devices associated with a positive COVID-19 test while also enabling a significantly tighter accuracy radius in device tracking”

………..
‘Lil reminder what every big event is used as, the next step for more control and laws; this the new system; that slow march toward total communism. See you in the Camps, I will have the Green Star on me (for Unrepentant Capitalist)

“BC Government Plans To Regulate Speech About Stocks On Social Media, May Use “a discretionary power that allows them to make ORDERS THAT ARE IN THE PUBLIC INTEREST even if there isn’t a specific breach of securities law” (financialpost.com)

#154 T-Rev on 02.09.21 at 10:20 pm

#120 Nonplused

Honest to dog if more people read Thomas Sowell, or even knew who he was, I think a lot of the delusional fog under which our western society has fallen would lift.

#155 The West on 02.09.21 at 10:21 pm

#50 Alberta Ed:
Speaking of manipulation, Tesla makes most of its income from regulatory credits, not from selling cars. Several US states require automakers to sell a certain percentage of zero-emissions vehicles by 2025; if they can’t, they have to buy regulatory credits from an automaker that does, such as Tesla. The $1.6 billion in regulatory credits Tesla received in 2020 outweighed net income of $721 million — meaning it would have posted a net loss in 2020. Of course, EV’s are not emission free, if you count the emissions generated during construction, especially the batteries.
——————————————

BINGO!

Those who control the money presses are using their self-appointed authoritarian power to “go green” or rather, build a matrix they can centrally control. This is the very edifice of centrally planned economies. Tesla is being rejected by the free market (for a variety of practical reasons) BUT, not by the western establishment.

All said and done, oil is the only energy available to humans that can sustain the current population AND lead to further expansion of the logistics infrastructure. It provides employment, sustainable access to free markets and proved to be a “great equalizer” across our species for the last hundred years.

…our leaders want all these things, right?

#156 DON on 02.09.21 at 10:23 pm

@crowded

That must send shivers down your spin. I was in visiting my grandfather at Royal Jubilee 1990s..and came accross the logger…big first nations man. Grizzly came out of nowhere when he sat down to have a sandwich. He quit logging…that was that.

Lucky he was big…his cuts were massive.

Stay lucky man!

#157 IHCTD9 on 02.09.21 at 10:28 pm

#114 Faron on 02.09.21 at 8:07 pm.

And f you for attempting to insult my masculinity as a weak arse means of argument. That’s low bro. And unsuccessful.
— ———

I missed this part…

So what should I call a douchebag who thinks Men casually accept bottom feeding dunce fuelled table manners at break time as “normal”? That Men don’t notice it because they’re Men? That bro culture is just a “accepted”… because Men.

How about a bigoted mother******?

Is that better homie?

#158 IHCTD9 on 02.09.21 at 10:30 pm

#114 Faron on 02.09.21 at 8:07 pm.

And f you for attempting to insult my masculinity as a weak arse means of argument. That’s low bro. And unsuccessful.
— ———

I missed this part…

So what should I call a douchebag who thinks Men casually accept bottom feeding dunce fuelled table manners at break time as “normal”? That Men don’t notice it because they’re Men? That bro culture is just “accepted”… because Men.

How about a bigoted mother******?

Is that better homie?

#159 mike from mtl on 02.09.21 at 10:30 pm

#139 Stone on 02.09.21 at 9:20 pm
////////////////////////////////////////////////////

Not picking on you in specific but, having a low income, not much you can do about that other than ‘fixing’ your personal situation. “Get rich quick” schemes are full of it or are a very real risk, investing included. Losses and failure are rarely ever announced. Eliminate dumb debt or be willing for an uphill battle. Working at or near working wage will get you nowhere no matter how many hours you work and that’s the plain truth. ‘First world’ economies thrive due to newbies not knowing that fact. Real inflation you have to pay for is easily many times the official number, that is no accident.

Public stock investing these days has a fairly low barrier to entry but very quick to lose your shirt. The Fed makes the rules and when the music stops, everyone runs for the exits.

Risk and reward is the order of the day and our taxation system is perfectly aligned to skim honest earned incomes.

#160 Gulf Breeze on 02.09.21 at 10:31 pm

#10 David on 02.09.21 at 2:47 pm

Garth,

Some are suggesting the US dollar is loosing its luster as the primary reserve currency and crypto could help in a small way to balance that out.
**************************************

The U.S. government is never, ever, ever, ever….going to willingly allow any other form of payment to undermine its currency’s status as the world’s reserve currency. Yellen fired a major shot across the bow on that score and then walked it back a little, so she wouldn’t be blamed for the collapse of bitcoin and the people hurt by it. But just wait until more people start piling in….she will act decisively and regulate it to death or outright outlaw it and possibly using the argument that it is a typical pump and dump scheme.

I have listened at some length to Real Vision’s Raoul Pal, explain why he is ‘all in’ when it comes to bitcoin. Some of it sounds very reasonable, but when he gets to the part where he claims, China and the U.S together with other countries will have a vertically integrated and intertwined global banking system and bitcoin will play an outsize role in that system….whaaaaat???

So that’s why there’s so much tension between the two…they are just trying to work out the bugs in their global banking system. LOL!

Read carefully what Musk says about accepting bitcoin for Tesla. He uses a lot of qualifiers, to cover his butt. It’s not a sure thing, in his mind but he did manage to drive the price up and has already made several million on his original investment.

Crypto is not going to work. Govt issue digital currency is much more likely.

#161 Sail Away on 02.09.21 at 10:42 pm

My friend has (P) Arkansas’s. He says he can’t pay by tap or he’d go broke.

#162 IHCTD9 on 02.09.21 at 10:42 pm

#106 Faron on 02.09.21 at 7:44 pm

#88 IHCTD9 on 02.09.21 at 6:56 pm

Yep, it’s illegal. Call the MOL. End of story. Nothing more to it.

——— –

Oh yeah, right. Thanks. No one ever does anything illegal.

— ———

Employer breaking the law?

Then call the MOL.

I can’t make this any easier for you to understand bro.

#163 Sail Away on 02.09.21 at 11:00 pm

#89 Faron on 02.09.21 at 6:58 pm

Socialized differences are strong and not helpful in our present society. My partner and I share cooking (yes, she’s a she) but when I cook she feels “guilty” or sometimes even worries that she’s done something wrong by not cooking. That comes directly from how she was socialized. She’s about as woke as they come, yet this persists in her.

————-

If you were truly intelligent, you would encourage this instinctual urge by way of continuous compliments and showing immense satisfaction. Then she would be fulfilled and you would be full. Win-win.

When training, first identify the instinct and innate ability, then, if it’s beneficial to you, encourage, encourage. More training is messed up by inconsistent message than anything else.

Good luck!

#164 Cal Guy on 02.09.21 at 11:03 pm

All the digital currencies will be useless when our dollar collapses because we have been silent in how our country has gone downhill the last few years. The PM has always ONLY had talking points, with little ACTION.

He promised to reconcile and help Indigenous communities – nothing to little progress. He has not done anything the last number of months. Remember he prorogued parliament. What did the gov’t do at that time? All this vaccine fiasco is what people voted for. All talk and little action. We are a mediocre country. People are happy to sit on the sidelines and let others work while they collect a gov’t cheque. We have lost a competitive edge in business, industry and hard work. Too many people and businesses have left as they see how unproductive and over regulated Canada has become. Lastly, again we see more layoffs by Air Canada. The gov’t has promised help for months! When your neighbour gets laid off it is a recession. When you get laid off, it is a depression. Time to wake up and demand action! No more talk! Let’s get Canada moving again!

#165 Faron on 02.09.21 at 11:35 pm

#136 IHCTD9 on 02.09.21 at 9:14 pm

#123 Faron on 02.09.21 at 8:24 pm
#109 IHCTD9 on 02.09.21 at 7:47 pm

#89 Faron on 02.09.21 at 6:58 pm

Just because you are Male, does not make any of it cool or “normal”.

I agree with this. I was too hasty when I wrote the post that offended you and didn’t make what I was trying to say clear. I apologize for the misunderstanding.

Anyhow, if men don’t like the culture and women don’t either, then who is doing the work? A prime example in the professional world is bro culture in finance. Sure, the culture may be distasteful to you and I and many other men, but it’s male dominated and borderline toxic to women in that sector (not in all instances obviously). Men wind up being dominant meaning that more men than women venture into the fires thus excluding an unknown, but certainly large number, of very talented people. Both sexes, but predominantly female.

#166 fishman on 02.09.21 at 11:49 pm

The B.C. Securities Commission said “somebody shouldn’t be able to lie about a stock on social media”. Thats a joke ,right? The B.C.S.C. is the biggest joke securities regulator in the world. Vancouver is the head office of more mining companies than any where else in the world. By far. Vancouver is my home port & i love her dearly. The ocean air is pure. Its stock pumpers aren’t.
They took Pezim & a couple of his Toronto buddies to court for a VSE purification drama. They had 15200 recorded phone calls as evidence. Might have been a few guys gone to jail if they hadn’t made sure every time your broker picked up the phone their was a loud warning Click. The VSE is as crooked as a dogs hind leg. The B.C.S.C. is that leg after being broken. Always has been. Always will be.

#167 Jim Toiler on 02.10.21 at 12:01 am

Felix about impoochment.

Best.Post.Ever

#168 Nonplused on 02.10.21 at 12:14 am

#135 Gravy Train on 02.09.21 at 9:03 pm
#104 Nonplused on 02.09.21 at 7:36 pm
“And charging them. When I look at my power bill I see carbon taxes there too.” It’s a shame you don’t get solar panels. Almost half (48%) of my energy consumption is produced by my solar panels, and, with a 10-year payback and a 25-year guarantee on the panels, I get at least 15 years of free energy. It’s too bad you can’t do basic math. :P

————————————

Why you got to tag the insult at the end? I can do basic math. But I can also do logic which is why I am in no rush to get solar panels. Not that I am outright against them. Every little bit helps.

See, if I am ever forced to buy an electric car and a home charging station, I will be doing most of my charging at night. I don’t know if you noticed but the sun doesn’t shine at night. And in Canada it hardly shines at all for 5 months of the year. Ya sure wind still works at night and in the winter but not at much more than 30% of capacity. So the grid must stay.

And of course if your house is like mine your furnace, hot water tank, in floor heating, stove, and fireplace all run on natural gas, so that is kind of cheating to say you get 48% of your energy from solar. More like 24% at best.

The grid will stay until electricity storage and over-building is sufficient to run the furnace on electricity at night while charging the car. I predict that will be never.

#169 Nonplused on 02.10.21 at 12:25 am

PS, Gravy Train, if you are like me you spend about a third of your energy bill putting gas in the car, or at least I did pre-covid, that bill is way lower now. But even if you have an electric car and use a charging station there is no way you are getting even 24% of your total energy from solar. It is probably more like 16%. Better than nothing I suppose and if it makes economic sense I suppose it is a good investment, but it isn’t going to save the world.

#170 Lead Paint on 02.10.21 at 12:56 am

#91 Faron on 02.09.21 at 7:08 pm

#70 Sara on 02.09.21 at 5:41 pm

Sad but true. That you are a man, arguing for women, makes you a pretty cool guy in my book. :)

Thanks. And you sound like a cool gal. …

Sara and Faron you do recognize the irony of your postings, don’t you? You’re exemplifying one of many of Jordan Peterson’s adroit points on this topic: males are, on average, more aggressive than women and aggressiveness correlates with higher income.

So we have the man Faron fighting all the other men on the topic of women’s compensation, and Sara cheers him on in a very agreeable way.

Guess which one gets noticed, recognized as aggressive in pursuing objectives and gets a promotion? Which (between the two of them) would you hire to defend you?

Multiply this by a few million men and women in the workforce and you now know one aspect of why men on average get more promotions and opportunities than women. Others are hours put in to work (vs. home) and choice of professions (male doctors earn more than female but are more likely to be a specialist than a GP, nothing to do with sexism).

Thanks for exemplifying JP’s points!

#171 Jane24 on 02.10.21 at 2:25 am

The bit I don’t get is how the authorities in a single country – Canada, can expect to get control of a global internet disruptor like games based stock trading. Why would the tech giants pay any attention at all to what Canada wants. To much money starting to bet the other way. Put your stock trading business in Cambodia for goodness sake, grease some palms there, and then have global trading customers. The horse is truly out of the stable on this one.

If so many people believe in anti-vax conspiracies, why wouldn’t they buy stocks to shaft the main man.

#172 SoggyShorts on 02.10.21 at 2:39 am

#142 Faron on 02.09.21 at 9:27 pm
#89 Faron on 02.09.21 at 6:58 pm

the economy is missing out on a hunk of productive skill owing to that distribution and an economy is best served by maximizing the capabilities of its workers crudely speaking.

************
But almost zero people ever reach their maximum potential- regardless of gender or ethnicity.
This isn’t a discrimination issue, it’s a lack of robots to do shitty jobs issue.
We should all be philosophers, inventors, and artists, but that’s fantasy.

My BiL took Paternity leave with all 3 kids because his wife had a better career. I find it hard to believe that won’t be the norm in the next generation.

Maybe no one should raise their own kids because it’s objectively inefficient: obviously, the best answer is to “waste” the fewest possible adults in child-rearing so that we can have the maximum productivity, but people don’t all want that. They don’t see raising their own kids as wasteful.
No one should ever retire either, but some don’t want to work.
Perhaps Logan’s Run was right and all oldies should be killed once their contribution drops below the desired level.
Or maybe it’s OK that society isn’t a perfect machine.

Don’t get me wrong, I think everyone should have equal opportunities, and if that means giving girls lego instead of dolls for Christmas, I support that, but I don’t think society is being as suboptimal as you think.

#173 SoggyShorts on 02.10.21 at 3:22 am

#139 Stone on 02.09.21 at 9:20 pm
Investing in yourself is the best thing you can do for yourself. Soggy, you don’t normally say dumb stuff but today, that was really dumb. If you think investing a few hours is too much effort, I don’t think I’ll convince you otherwise but I’ll share the following regardless. Hopefully for others who maybe can consider the longer term implications.

What did I do? I took the Canadian Securities Course 23 years ago when I was 22. It was well worth every penny. Time invested: 3 months.
*************************
Your advice for the average person is to take a 3-month course as an entry to investing?
You just lost 90% of your audience.
How long does the CSC course take? “By estimates, the exam requires 150-200 hours of prep time. “
You just lost 90% of who was left.

Be realistic. If people can get 9% instead of 11% returns with a one-fund Questrade account they might actually stick to it, and you are ignoring the very real fact that the vast majority of private investors will not beat an index ETF in the long run- not even close.
Look at it like a mini version of the Buffett bet, if zero hedge funds were able to beat the index what percentage of 3-month graduates do you think will consistently beat VBAL?

They will panic sell, they won’t diversify properly, they will buy high and sell low. That’s not even accounting for the mathematically uninclined. Then add in the responsibility and emotion of managing your own money, your nest egg, your future?

You’re like a car guy who scoffs at others for being so dumb for not doing their own oil changes. It’s great that you have gained those skills. It’s obviously better to do it yourself, but it’s super unrealistic to think everyone can or will.

Just the other day you were surprised that not everyone could see that earning dividends that more than cover your rent forever is better than owning.
You’re forgetting human nature.

As I said, VBAL is an excellent start to investing. Then, if the person has the aptitude for it, learning more and switching to self-directing is great, but I stand by my statement that under 100K it’s not going to make that big a difference.

The 6 figure target isn’t “arbitrary” either. Around 100K is when it starts making sense to split your VBAL into its component parts and distribute them in the most tax-efficient way among your TFSA/RRSP/Non-reg. Under 100K it’s doubtful you even need a Non-reg as everything probably fits in the others. Obvious tweaks like reducing Maple exposure, dropping some bonds for Reits and others for prefs along with adding in USD exposure etc. None of that is really worth it on day one.

—————————————–
Telling people they need to spend $1,000 and 200 hours on a course in order to invest properly sets a massive barrier to entry that very few will pass.

You accuse my recommendation of starting out with VBAL as encouraging investing mediocrity, but you are discouraging people from even that.

#174 Howard on 02.10.21 at 4:03 am

#89 Faron on 02.09.21 at 6:58 pm
#74 SoggyShorts on 02.09.21 at 5:54 pm

#64 Faron on 02.09.21 at 5:25 pm
#29 Howard on 02.09.21 at 3:47 pm

If JP is right, and men really are different at the far end of the spectrum then I’m not sure that can be “fixed” or if it even needs to be.

JP = Jordan Peterson? What do you mean by “different at the far end of the spectrum”? That’s interesting…

Barriers to entry. Do you think women choose not to mine because it’s dirty/icky? Or maybe it’s the bro culture that runs strong and deep through many aspects of mining? Might that count as a barrier? You wouldn’t see this because, as a man, some degree of bro culture is just accepted and normal. This is one of MANY barriers that you would only experience as a women (and probably kick yourself for capitulating to).

—————————————

This is complete conjecture on your part. Women are intimidated by bro culture? How does one define bro culture and what do you propose to do to stamp it out? Force companies to order their male staff to stop grabbing beers together after a shift?

Garbage men (sorry, garbage workers) make excellent money and great benefits but I have never in my life seen a woman out there at 6:00am on a -25C morning lifting a garbage bin into a truck.

#175 Howard on 02.10.21 at 4:17 am

#142 Faron on 02.09.21 at 9:27 pm

You seem to have adopted an absolutist “nurture” position in the nature-nurture debate.

If you believe, erroneously, that humans are complete blank slates at birth it doesn’t surprise me that you believe equality of outcome (vs opportunity) can be forced on a population (sounds like communism, frankly).

#176 I’m stupid on 02.10.21 at 6:40 am

#69 Faron

Have you ever wondered why every Tesla driver drives slow? I never understood why a car with that much power would is usually the slowest car on the road.

Any trades person knows what happens to batteries in power tools in the cold, they preform 30-50% less than when it’s warm.

I spoke to an actual Tesla owner and he told me that he usually gets 150kms on a charge in the winter, that’s just regular cold. In extreme cold that mileage tanks so he drives without the radio on and very slow to maximize mileage. If he’s really low the heat gets shut off. That sounds fun, paying 100k to drive a car with out heat or a radio in -30 weather.

The only reason Tesla has ever made a profit is because it sells carbon credits to other car manufacturers. Tesla is a niche product without government incentives it would not exist.

#177 BillyBob on 02.10.21 at 6:59 am

#74 SoggyShorts on 02.09.21 at 5:54 pm
#64 Faron on 02.09.21 at 5:25 pm
#29 Howard on 02.09.21 at 3:47 pm
The simple fact that there is an earnings disparity is. a. problem. Full stop.
*******************
I’m not convinced. IMO it’s only a problem if the opportunities for entry are unequal, not the outcomes.
I’m pretty sure that in some instances a boys club does actually grant men more opportunities than women(and the #metoo movement doesn’t help) but I don’t believe it’s nearly as widespread as opinion articles make it out to be.
There was an interesting attempt at equal outcomes instead of equal opportunities where a Swedish university set aside 50% of STEM spots for women regardless of whether any men had better entrance qualifications, and they ended up having to fill spots with men anyways due to lack of interest.
That’s just one nearly anecdotal case, but it may turn out to be more widespread than that.

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

Actually I believe it was quite a bit more than anecdotal, if I recall it was a study.

But in essence it showed that in countries with the highest levels of social acceptance of gender in any role they chose, the highest freedom to choose whatever role one wanted, and the least pressure to conform to traditional, stereotypical roles – both males and females still overwhelmingly chose professions traditionally done by their respective gender. Engineering is still dominated by men, nursing is still dominated by women to name only two examples. This, is in a culture where every effort is made to ensure every person is free from the pressures of “socialization” influencing either their decision or it’s outcome, and every state support is offered to remove obstacles to obtaining any desired profession.

Meanwhile in countries where there are strictly-defined gender roles, Pakistan being the one they studied, they found that women were far more likely to choose, and succeed in, professions traditionally dominated by men.

Yet Faron is baffled as to why his female partner still feels some sort of inner angst at not performing some task traditionally performed by her gender.

Hmm. Curious.

The insidious thing about the current iteration of feminism is that the relentless framing of everything as simplistic, sweeping identity politics and pitting one group against another, impedes actual serious discriminatory issues from ever being solved.

But, keep fighting the good fight to portray women as victims, Faron.

And I’ll let the goddess, my four sisters, my mom and three aunts know about their chromosomal disadvantage. Not sure they’ll buy it though, they’re kind of busy being strong, confident people succeeding just as much or more than any of their colleagues of any gender to notice your earnest efforts on their behalf.

Oh and regarding “bro culture”, maybe you should explore the analogue and investigate why most any woman you ask, HATES working in a job where all of her colleagues are female. You might find that “packs” of either gender can behave equally repugnantly.

#178 maxx on 02.10.21 at 7:20 am

@ #2

Agree. Look at the strength of the GBP – it appears to parallel the success with which the vaccination program is tracking.

#179 Steven Rowlandson on 02.10.21 at 7:29 am

Bitcoin and its cousins can be quashed simply by enforcing legal tender laws and regulating internet commerce more diligently.

#180 Do we have all the facts on 02.10.21 at 7:39 am

The values of many assets competing for investment capital today are being maintained in a network of computers. The technology behind today’s computer networks is changing hourly and we have no way of predicting what the next ten years of technology will bring.

I have referred to the mania surrounding the purchase of tulip bulbs in Holland in 1636/37 to illustrate how quickly
demand for an asset can switch to a panic to sell. No one can accurately predict what will trigger a shift in investor confidence and this is definitely true when the value of an asset was created, and is being maintained, by today’s version of computers.

Kodak invented the digital camera, Xerox invented the personal computer, My Space was the once the leader in the development of social media and Blockbuster was once the primary source of video entertainment.

Technological change created a new landscape and new opportunities and it seems very short sighted to think that the value of Bitcoin today will not be influenced future developments in the cyber world tomorrow.

Storing data in the Cloud has become commonplace in just a few years. Basing the value of a cyber currency on a blockchain consisting of tens of thousands of individual computers that are rapidly becoming obsolete seems rather sketchy. The ability to stay current with the demand to store immense volumes of information is expensive. As the demand for, and use of, Bitcoin increases the current blockchain approach will require substantial improvement.

Elon Musk seems to be positioning himself as the primary source of the capital necessary to improve data storage and processing for Bitcoin in the future.

A bit of caution seems prudent since his Spacex rockets may not be the only thing flying a bit too close to the sun.

#181 Sail Away on 02.10.21 at 7:58 am

#174 SoggyShorts on 02.10.21 at 3:22 am

Telling people they need to spend $1,000 and 200 hours on a course in order to invest properly sets a massive barrier to entry that very few will pass.

You accuse my recommendation of starting out with VBAL as encouraging investing mediocrity, but you are discouraging people from even that.

————–

Well said.

#182 Gravy Train on 02.10.21 at 8:16 am

#169 Nonplused on 02.10.21 at 12:14 am
“Why you got to tag the insult at the end?” It’s not an insult; it’s a fact. If you could do basic math, you’d have solar panels on your roof.

“I can do basic math.” Non sequitur. (See above remark.)

“But I can also do logic which is why I am in no rush to get solar panels.” You’ve not provided any evidence of logic in your reply.

“Not that I am outright against them. Every little bit helps.” Yes, you are outright against them; otherwise, you’d have solar panels on your roof.

“And of course if your house is like mine your furnace, hot water tank, in-floor heating, stove, and fireplace all run on natural gas, […]” Our home is all-electric, and has an EnerGuide rating of 28 GJ per year. We do have a cast-iron gas stove, but use it only in the event of a power outage.

“[…] so that is kind of cheating to say you get 48% of your energy from solar. More like 24% at best.” From June 20, 2019 to June 18, 2020, I bought 15,211 kWh and sold 4,926 kWh for a net purchase of 10,285 kWh of energy. Our solar panels produced 9,428 kWh, and—since we don’t have battery storage—our energy consumption was thus 19,713 kWh.

Here’s the math: 9,428 kWh / 19,713 kWh = 47.8%. Please feel free to check the math, or get your wife to help you.

#170 Nonplused on 02.10.21 at 12:25 am
“PS, Gravy Train, if you are like me you spend about a third of your energy bill putting gas in the car, or at least I did pre-covid, that bill is way lower now.” I use my gas-fueled car for short excursions about once every two weeks. I don’t have to work for a living, as I have multiple streams of income—mostly rentals, dividends and capital gains. Does that help? :P

#183 crowdedelevatorfartz on 02.10.21 at 8:25 am

@#151 Sara
“At least you are good with your hands and make a good buck. Who cares that you are short a few brain cells?”

+++++

Dont forget good looking.
Might as well hope for the trifecta when snagging a potential husband.
:)

#184 Sail Away on 02.10.21 at 8:37 am

#171 Lead Paint on 02.10.21 at 12:56 am

So we have the man Faron fighting all the other men on the topic of women’s compensation, and Sara cheers him on in a very agreeable way.

————-

Faron’s always fighting. Probably the most antagonistic poster here.

Such aggression… but that’s male instinct and evolution in play.

#185 crowdedelevatorfartz on 02.10.21 at 8:39 am

Watch out Billy Bob
You can be replaced by a computer ….

Feb 18th.
Helicopters on Mars!

https://mars.nasa.gov/mars2020/

#186 millmech on 02.10.21 at 9:02 am

GDNP.V
I own it and this is not financial advice

#187 unbalanced on 02.10.21 at 9:32 am

Why does it seem that a lot of people are bickering at each other every day on this site? Maybe 2 comments a day would be enough or better yet, take it some where else. Just saying.

#188 Dharma Bum on 02.10.21 at 9:43 am

#38 Lord Tunderin

Time to make some money!!! Who’s with me blog dogs? What are we buying?
——————————————————————–

Buy the following Pharma stocks:

Pfizer
Johnson&Johnson
Bayer
GSK
Endo Pharmaceuticals
Dupont

I wrenched my back so badly that I am bedridden, and literally scream and cry like a little baby man when I have to move.

I need to load up on Percocet, Percodan, Robaxacet, Tylenol 4s, Aleve, Advil, and whatever else I can get my hands on before I lose my mind and just jump out of a window for relief.

Those company stocks should skyrocket after I get through buying drugs.

#189 earthboundmisfit on 02.10.21 at 9:44 am

“Off wit’ their ‘eds”

#190 cramar on 02.10.21 at 9:45 am

#129 Flop… on 02.09.21 at 8:32 pm

Undercover Billionaire.

It’s a show on Discovery Channel.

[snip]

—————————-

Interesting. I see a pattern here. Most are trying some form of food business. Maybe that is the new wave of the future.

#191 Sara on 02.10.21 at 9:56 am

#184 crowdedelevatorfartz on 02.10.21 at 8:25 am

“Dont forget good looking.
Might as well hope for the trifecta when snagging a potential husband.
:)”

Well, you can try to snag a husband, but it might be difficult at your age. Perhaps tone down the caustic personality a bit – that might help.

#192 Stone on 02.10.21 at 9:56 am

#174 SoggyShorts on 02.10.21 at 3:22 am
#139 Stone on 02.09.21 at 9:20 pm

Telling people they need to spend $1,000 and 200 hours on a course in order to invest properly sets a massive barrier to entry that very few will pass.

You accuse my recommendation of starting out with VBAL as encouraging investing mediocrity, but you are discouraging people from even that.

———

Measure twice, cut once. A bit of preparation goes a long way. But I know, thaaaaat’s hard! Especially when the investment is yourself.

#193 IHCTD9 on 02.10.21 at 10:15 am

#166 Faron on 02.09.21 at 11:35 pm

Anyhow, if men don’t like the culture and women don’t either, then who is doing the work?
___

The same people who have always done the jobs no one else wants to do.

Young Men.

#194 Penny Henny on 02.10.21 at 10:22 am

#89 Faron on 02.09.21 at 6:58 pm

Barriers to entry. Do you think women choose not to mine because it’s dirty/icky?

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

Yes. Absolutely. 100%.

As I watch a garbage truck drive by in this minus 16 degree weather I think back to all the times I’ve seen a female doing this dreadful job. Zero. Never.

#195 Sail Away on 02.10.21 at 10:25 am

#177 I’m stupid on 02.10.21 at 6:40 am

Have you ever wondered why every Tesla driver drives slow? I never understood why a car with that much power would is usually the slowest car on the road.

————-

Yes. It’s the same reason grizzlies amble and lions sleep all day.

Let the jackals and meercats sprint around willy nilly; the king has nothing to prove.

#196 Sheesh on 02.10.21 at 10:27 am

#175 Howard on 02.10.21 at 4:03 am
Garbage men (sorry, garbage workers) make excellent money and great benefits but I have never in my life seen a woman out there at 6:00am on a -25C morning lifting a garbage bin into a truck……

I have, although it was at 7:45 and -35C

#197 IHCTD9 on 02.10.21 at 10:33 am

#178 BillyBob on 02.10.21 at 6:59 am

… investigate why most any woman you ask, HATES working in a job where all of her colleagues are female. You might find that “packs” of either gender can behave equally repugnantly.
___

Good point. As a late teen, I worked in a food plant that was 90% Women. The lunch table was less crude, but the cringeworthy topics of discussion never. let. up. ever. The bro’s, while crude – occasionally discussed something worth tuning in to. Not so in that food plant.

This was on top of all the 30-40 year old Women coming around feeling us up stuffing hairnets in our back pockets and grabbing our asses. Nary a shift went by without some horny coug. copping a quick feel while we stood there on the line. Some of these esteemed ladies were old enough to be my mother. Many got bolder on a weekly basis.

I think Faron led a very sheltered upbringing. This garbage is equally present, and equally despised right across the gender board.

#198 IHCTD9 on 02.10.21 at 10:50 am

#162 Sail Away on 02.09.21 at 10:42 pm
My friend has (P) Arkansas’s. He says he can’t pay by tap or he’d go broke.
___

That’s terrible lol!

#199 CL on 02.10.21 at 10:51 am

I have been in the markets for over 1/4 of a century. Tesla is the best most successful fictional story that I have ever come across not only in investing but, in my entire life. Well done.

#200 IHCTD9 on 02.10.21 at 10:55 am

#184 crowdedelevatorfartz on 02.10.21 at 8:25 am
@#151 Sara
“At least you are good with your hands and make a good buck. Who cares that you are short a few brain cells?”

+++++

Dont forget good looking.
Might as well hope for the trifecta when snagging a potential husband.
:)
____

It’s all about the combo.

I don’t make a lot of $, but I look great in coveralls.

#201 Yuus bin Haad on 02.10.21 at 11:07 am

Isn’t it just like allowing kids in on the garage sale with their bags of pennies and no sense of value? And all we adults are trying to do is sell our stuff to each other

#202 Wait There on 02.10.21 at 11:10 am

Reddit and Robinhood looks to be rotational pump and dump. The problem is that volatility will be increased. Remember that overpricing cycles will be accompanied by underpricing and that will also hurt the innocent as well.

This crap needs to stop somehow. It’s indicative of the new society. Once you figure out they believe in herding, you can manipulate them, ( the sheep and fools that is)

At some point society will come to the conclusion that social media is not improving the well being of the world as it has morphed into something other than its’ initial goal.

#203 Bear on 02.10.21 at 11:18 am

#177 I’m Stupid

My Tesla gets over 500km on a full charge on a nice summer day. I recently went to Sunshine Ski resort in Banff from Calgary and back on one full charge at -15C. Around 150KM each way. So 300km. Today it’s currently -27C degrees which would reduce my range more than -15 C so I would need to stop 15 minutes in Canmore on the way back at a Supercharger. No big deal. So unless you need to do more than 300KM to get to work, you will never have to stop to charge except at home. Also the car is always on so you never have to worry about your car not starting. I can’t tell you the numbers of cars I passed this week that needed a boost to start it.

#204 Doug in London on 02.10.21 at 11:26 am

@Nonplused, post #169:
Somehow this discussion has gone off on a tangent about Tesla electric cars and where the power to charge them up is going to come from. If and when electric cars become more common, it’s obvious there’s no way renewable energy will be enough to meet all this demand, especially if they’re charged up at night. It could lead to an increase in nuclear power in order to meet this demand. My money is on CCO-T, U-T, and URA-NY. Forget about speculative rubbish “investments” like GME, AMC, and BTC.

#205 IHCTD9 on 02.10.21 at 11:39 am

#169 Nonplused on 02.10.21 at 12:14 am
#135 Gravy Train on 02.09.21 at 9:03 pm

See, if I am ever forced to buy an electric car and a home charging station, I will be doing most of my charging at night. I don’t know if you noticed but the sun doesn’t shine at night. And in Canada it hardly shines at all for 5 months of the year. Ya sure wind still works at night and in the winter but not at much more than 30% of capacity. So the grid must stay.

And of course if your house is like mine your furnace, hot water tank, in floor heating, stove, and fireplace all run on natural gas, so that is kind of cheating to say you get 48% of your energy from solar. More like 24% at best.

The grid will stay until electricity storage and over-building is sufficient to run the furnace on electricity at night while charging the car. I predict that will be never.
______

G Train’s solar system is grid tied – it’s the only way you can benefit from solar power without making huge sacrifices to your lifestyle.

Here in Ontario – it appears we are still getting subsidized thru Wynne’s “debt for discount” plan, as my bill is never much more than 130.00/mo. At these prices, a big solar array doesn’t make a lot of sense financially unless you’re just starting out in your 20’s.

Some day though, if solar efficiencies get to 60-70% for a couple bucks per watt, it will be a game changer.

I have to wonder if now is the golden age for solar. If solar ever gets cheaper than the grid and everyone sends their meter back to OPG – the government would have a massive problem. Of course they’ll fix it by charging you in some way for the sunlight that now produces your hydro – and we all might not end up saving a dime in the end. Plus, then we’d have to pay for and maintain the infrastructure on top…

This is Ontario I’m talking about where the entire power system is Government run, with some of the highest salaries paid in the world for the jobs they do. It would be a totally different gig if the power was produced and distributed through the private sector.

#206 Sara on 02.10.21 at 11:40 am

#194 IHCTD9 on 02.10.21 at 10:15 am
#166 Faron on 02.09.21 at 11:35 pm

Anyhow, if men don’t like the culture and women don’t either, then who is doing the work?
___

The same people who have always done the jobs no one else wants to do.

Young Men.

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

Tell that to the many women who work in low paid service industry and caregiver roles. How often do you think it is a “young man” changing the diaper of a geriatric patient, for example? At least the “young men” frequently get paid well for the “yucky” jobs they do.

#207 Flop... on 02.10.21 at 11:53 am

So, I guess the Canadian version of Undercover Billionaire would involve some going and doing the challenge in places in Prince George, B.C or Thunder Bay, Ontario, maybe Kitchener if you got a bit luckier population wise.

Could you be flown into these cities, given $100, old truck and fresh cell phone and turn that $100 into a million in 90 days?

You are not allowed to use your name recognition or existing contacts that previously helped you be successful.

I would probably fail miserably, but I would be interested in how I would fight through the challenge with the cameras rolling and with nothing to lose ego wise, unlike the already successful entrepreneurs that are currently negotiating the undercover challenge.

Is starting with only $100, or only having 90 days the biggest retardant?

Like I said in my original post, if you include Glenn Stearns in the original series, 3 out of the 4 people looked to do something real estate related as one of their first choices to seal the deal.

Glenn Stearns did in fact flip a house after a quick renovation to give him some cash flow but because real estate is so depressed in Erie, Pennsylvania, I think he only made around 15k for all his efforts and burned a considerable amount of his allotted 90 days.

Garth has been a serial entrepreneur, when I look what Elaine Culotti is trying to do to a struggling restaurant in Fresno California, I think this one is the closest one that matches up to what Garth was able to achieve with the successful rehabilitation of The Belfountian General Store in Caledon

The numbers are irrelevant, but I think from memory this was the second time Garth bought the building, returned it to its former glory and came up with a successful business plan before someone gave him an offer he couldn’t refuse.

It wasn’t a competition, Garth wasn’t on the clock, but a lot was achieved in a short amount of time, way more than 90 days though.

Garth, forget the money, from the time you bought the building, to the time you sold, was this process around 18 months, ballpark?

O.k now I have to think of a joke to finish up.

Got it.

Justin Trudeau would suck worse than myself at this challenge, because he would just give the $100 to the first person that walked by…

M46BC

#208 Sara on 02.10.21 at 12:14 pm

For those who have been following the impeachment trial, I highly recommend checking out the facebook page of Heather Cox Richardson (political historian who uses facts and history to make observations about contemporary American politics). Her daily posts are fascinating. However, if you are a Trump supporter or admirer, you will want to continue to put your fingers in your ears and not go there.

#209 Penny Henny on 02.10.21 at 12:25 pm

#108 Tarot Card on 02.09.21 at 7:44 pm

Just beyond belief, and every day it’s a different stock.
And thats Vancouver I was looking at some stock over the counter in the states….. drumroll please……. 150 million shares traded today really?

Meanwhile my balanced BMO Etfs move maybe five cents. But on the bright side I get 6 to 8 percent paid every month in dividends.

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

6-8% dividends per month. That’s awesome Dolce.

#210 Job#1 on 02.10.21 at 12:30 pm

Gravy Train, Nonplused

I thought this topic had been previously beaten to death.
It is obvious that Gravy T. has a very tight/high R dwelling to achieve the energy performance stated.
The real question is whether this solution is scaleable, especially in densely populated urban settings. The expense of retrofitting existing buildings (if possible at all), plus PV equipment costs, provide a resounding answer of NO.

#211 IHCTD9 on 02.10.21 at 12:44 pm

#197 Sheesh on 02.10.21 at 10:27 am

#175 Howard on 02.10.21 at 4:03 am

I have never in my life seen a woman out there at 6:00am on a -25C morning lifting a garbage bin into a truck……

—–

I have, although it was at 7:45 and -35C
____

Must have been a pretty burly Woman. Women are estimated to have roughly about 50% less upper body strength, and 30% less lower body strength. Then there is the physical size difference on top.

Out my way a garbage bag can weigh 50 lbs max. I usually pump mine up to the max since it costs over 3 bucks per bag to get rid of them, and I’m a cheap bastard. I know for a fact that I’ve plopped 70+ lb bags at the curb many times over the last 2 decades.

All differences considered, a 125 lb female lifting a 70 lb bag would require roughly the same amount of effort on her part as a 230 lb dude lifting a 200 lb bag.

I just can’t see myself faced with the potential for lifting and chucking 50-60 200 lb bags per day, 5 days per week, and lasting very long in a career doing that. Maybe if I was built like Brian Shaw, or Hafthor Bjornsson I could make a career out of it.

For the record, I’ve never seen a female garbage peoplekind either, and I don’t blame them a bit.

#212 Penny Henny on 02.10.21 at 12:45 pm

#151 Sara on 02.09.21 at 10:09 pm
#146 crowdedelevatorfartz on 02.09.21 at 9:43 pm
@#142 faron
” Or, I do get why this happens, but my understanding is in sharp contrast to everyone I’m arguing against here”

++++

Sorry brudda…
I fell asleep after “Follow me…..”

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

It’s OK Crowdie. Not everyone can be as intellectually gifted and educated as Faron is. At least you are good with your hands and make a good buck. Who cares that you are short a few brain cells?
///////////////

Faron might have a lot of brain cells but many appear to be defective.

#213 Penny Henny on 02.10.21 at 1:06 pm

#207 Sara on 02.10.21 at 11:40 am
#194 IHCTD9 on 02.10.21 at 10:15 am
#166 Faron on 02.09.21 at 11:35 pm

Anyhow, if men don’t like the culture and women don’t either, then who is doing the work?
___

The same people who have always done the jobs no one else wants to do.

Young Men.

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

Tell that to the many women who work in low paid service industry and caregiver roles. How often do you think it is a “young man” changing the diaper of a geriatric patient, for example? At least the “young men” frequently get paid well for the “yucky” jobs they do.
////////////

Are you suggesting that men are disallowed from entry into those jobs

#214 Penny Henny on 02.10.21 at 1:07 pm

#208 Flop… on 02.10.21 at 11:53 am
So, I guess the Canadian version of Undercover Billionaire would involve some going and doing the challenge in places in Prince George, B.C or Thunder Bay, Ontario, maybe Kitchener if you got a bit luckier population wise.

Could you be flown into these cities, given $100, old truck and fresh cell phone and turn that $100 into a million in 90 days?
/////////

sell drugs

#215 IHCTD9 on 02.10.21 at 1:17 pm

#207 Sara on 02.10.21 at 11:40 am
#194 IHCTD9 on 02.10.21 at 10:15 am
#166 Faron on 02.09.21 at 11:35 pm

Anyhow, if men don’t like the culture and women don’t either, then who is doing the work?
___

The same people who have always done the jobs no one else wants to do.

Young Men.

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

Tell that to the many women who work in low paid service industry and caregiver roles. How often do you think it is a “young man” changing the diaper of a geriatric patient, for example? At least the “young men” frequently get paid well for the “yucky” jobs they do.
___

Pouring coffee and occasionally wiping an old dudes ass is the epitome of a horrible job?

Try shoveling sopping wet excrement in a barn where the ammonia levels are so high your lungs burn till midnight, and you’re damn near blind at the end of the day.

90 deg heat, 15″ deep, noise, dust, carrion, flies, maggots, rats, 12 hrs, 7.00/hr.

I get the feeling you just aren’t very aware of just how bad a job can get.

#216 Faron on 02.10.21 at 1:37 pm

#216 IHCTD9 on 02.10.21 at 1:17 pm

Nice work turning a heated discussion and to name calling. And for completely missing the point. Take a cue from SoggyShorts, stick to facts, argue your perceptions strongly, leave the name calling out of it.

Judging by the JP adherents here, this thread is pointless.

#217 Phylis on 02.10.21 at 1:37 pm

#194 IHCTD9 on 02.10.21 at 10:15 am
#166 Faron on 02.09.21 at 11:35 pm

Anyhow, if men don’t like the culture and women don’t either, then who is doing the work?
___

The same people who have always done the jobs no one else wants to do.

Young Men.
—xxx
Don’t forget the migrant farm workers.

#218 Rudy on 02.10.21 at 1:44 pm

We are a young family of 3, and I read this blog faithfully. In a world full of chaos right its great to have access to a blog with such solid information. Keep it up Garth!

#219 Faron on 02.10.21 at 1:49 pm

#185 Sail Away on 02.10.21 at 8:37 am

————-

Faron’s always fighting. Probably the most antagonistic poster here.

Such aggression… but that’s male instinct and evolution in play.

Fox in the henhouse my friend. Funny too that female foxes do their fair share of cxn slaying. Always nice to have backup.

You (collective) can’t decry me arguing for women while simultaneously cheering JP stuffig women back into 1950. Sorry.

Also ambling on the savannah: wildebeast waiting to get munched. Especially wildebeast with whompy wheels. Natural selection and all.

Gooood morning.

#220 IHCTD9 on 02.10.21 at 1:54 pm

#217 Faron on 02.10.21 at 1:37 pm
#216 IHCTD9 on 02.10.21 at 1:17 pm

Nice work turning a heated discussion and to name calling.
___

Uhh, name calling in post # 216? Have another look.

But on that note, I do retract the name calling I did back on #159. I think that was post Rum #3 last night and I went too far on that one. My apologies.

#221 IHCTD9 on 02.10.21 at 2:01 pm

#218 Phylis on 02.10.21 at 1:37 pm
#194 IHCTD9 on 02.10.21 at 10:15 am
#166 Faron on 02.09.21 at 11:35 pm

Anyhow, if men don’t like the culture and women don’t either, then who is doing the work?
___

The same people who have always done the jobs no one else wants to do.

Young Men.
—xxx
Don’t forget the migrant farm workers.
___

Yep, those too. Also, many of the dudes I worked with on these crappy jobs were paroled convicts or dudes just getting out of prison.

#222 Bill on 02.10.21 at 2:46 pm

Garth an Excellent Entertaining writeup..very true indeed.

No onto an Inconvenient Truth. Mr Gore the crook said there wouldn’t be any snow to ski on in den Dar Hills by now.
Anyone that bought into the climate change carbon tax scam is a complete fool. It snowing AGAIN here on the BC Coast and I’m choked cause I gotta fire up my bobcat and plow for my tenants.
Everything is a racket and social media is the fuel that propels this garbage. No diff than the stock market. Stay AWAY.

https://financialpost.com/opinion/patrick-moore-de-bunking-climate-and-other-varieties-of-alarmism

#223 Gravy Train on 02.10.21 at 2:51 pm

211 Job#1 on 02.10.21 at 12:30 pm
“I thought this topic had been previously beaten to death.” I thought so, too, but it keeps resurfacing. I, too, wish to see an end to the disinformation.

“It is obvious that Gravy T. has a very tight/high R dwelling to achieve the energy performance stated.” There are two components to our EnerGuide rating of 28 GJ per year:
• our rated annual energy consumption of 59 GJ per year, less
• on-site renewable energy contributions of 31 GJ per year.

A typical new house has an EnerGuide rating of 69 GJ per year.

“The real question is whether this solution is [scalable], especially in densely populated urban settings.” Suburban settings may be more conducive to a scalable solution, but I’m no expert. “There is no assurance we can do better, but this is no reason not to try.”

“The expense of retrofitting existing buildings (if possible at all), plus PV equipment costs, provide a resounding answer of NO.” Respectfully disagree. Please see my remarks at #135 Gravy Train on 02.09.21 at 9:03 pm.