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AngryBooch posted:Jack Welch destroyed GE in a similar fashion using Randian and Machiavellian techniques, we just didn't know it until after he left the shambles to his successors. I hadn't heard that, is there a write-up of it?
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Sep 24, 2018 18:09
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Mmm, falling knives, in NBEV @3.9
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Sep 24, 2018 19:31
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yikes lol i bought it at like $6.8 happy monday
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Sep 24, 2018 19:39
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Jenny Agutter posted:I hadn't heard that, is there a write-up of it? Welch famously force ranked every employee in the company and fired the bottom 10% every year. Unsurprisingly, encouraging employees to sabotage and undermine each other while designing and manufacturing complex industrial machinery was not a very good business tactic. GE has discontinued the practice in Welch's retirement but still has to run national ad campaigns begging engineering grads to apply to GE job postings. Welch covered up his massive mismanagement by turning GE into a bank that would go on to collapse during the financial crisis so that he could shift around profits to his terrible acquisitions and keep the stock price high. He's still lionized by many but GE failing should be placed entirely on his shoulders and this poo poo was called in 2001: https://www.newyorker.com/magazine/2001/10/01/gut-punch
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Sep 24, 2018 20:19
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AngryBooch posted:Welch famously force ranked every employee in the company and fired the bottom 10% every year. Unsurprisingly, encouraging employees to sabotage and undermine each other while designing and manufacturing complex industrial machinery was not a very good business tactic. GE has discontinued the practice in Welch's retirement but still has to run national ad campaigns begging engineering grads to apply to GE job postings. Welch covered up his massive mismanagement by turning GE into a bank that would go on to collapse during the financial crisis so that he could shift around profits to his terrible acquisitions and keep the stock price high. I love captain of industry brain geniuses who think cooperation is a negative trait
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Sep 24, 2018 20:33
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GE is an interesting case. I recommend anyone to read this article on how GE went from a leader in it's field to selling most of it's branches, got kicked out of Dowjones, got it is bond rating downgraded 2-3 times in 16 years. One of the best articles I have read this year. http://fortune.com/longform/ge-decline-what-the-hell-happened/
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Sep 24, 2018 21:22
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My stepdad just texted me a chart for today's action in AMRN. Apparently he has a large position. I do not know exactly what "large" means but based on his other holdings I'd guess like $20k? My concern is that he says it popped 300% today to $12.40 but "target" is $50 which makes me think he actually intends to hold until it comes to or close to that number, which, jesus christ?
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Sep 24, 2018 22:40
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Leperflesh posted:My stepdad just texted me a chart for today's action in AMRN. Apparently he has a large position. AMRN's only product is "prescription grade" Omega-3 fatty acids. You can literally buy this off of the shelf for $5-10. This their only drug. Your father believes that this singular drug is worth 15 billion dollars over its lifetime. The alternative is $5-10/month, and requires no FDA approval if it's just sold as an Omega 3 fatty acid supplement, and it's made by everyone and their mother. What I'm saying is that he hit a jackpot, he should sell before everyone realizes insurance isn't going to pay for it. Also, in unrelated news, my buddy alerted me to $EGC. A private company is buying it out for $9.10. They have clause in the buy out offer that the private company will pay a penalty (worth ~$1 in stock price) if they renege on the deal and that barring unforeseen circumstances, the deal will go through Oct 10th. People got spooked that funding wasn't secured, so the stock is trading around $7.80s. If you think the deal will go through, it's a free $1.30. It popped 30% last Friday when $EGC re-iterated that the deal was going through. Lote fucked around with this message at 22:57 on Sep 24, 2018 |
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Sep 24, 2018 22:53
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Lote posted:AMRN's only product is "prescription grade" Omega-3 fatty acids. You can literally buy this off of the shelf for $5-10. This their only drug. Your father believes that this singular drug is worth 15 billion dollars over its lifetime. The alternative is $5-10/month, and requires no FDA approval if it's just sold as an Omega 3 fatty acid supplement, and it's made by everyone and their mother. According to their fancy marketing materials, Vascepa is better than normal fish oil because it doesn't contain DHA, which raises LDL-C. Also it's concentrated. Like, I dunno man, it sure sounds like literal My stepdad does not accept investing advice from me, ever. He strongly believes he knows better than I do, because he's read lots of books, hangs out with fancy investment people, and is older. I just hope he doesn't blow a huge pile of money on this.
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Sep 24, 2018 23:43
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I know a princeton under grad double e and warton business grad who was on the fast track to senior mgmt at GE and she said everyone spent every day trying to find a new job. She works at a small company that makes water heaters now and is much happier.
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Sep 24, 2018 23:51
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There was a big case study of GE in my strategic management class in ~2007 and I remember thinking "why would anyone competent work there?" Like a year later it was rumored on the edge of bankruptcy due to the financial wing.
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Sep 24, 2018 23:58
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Leperflesh posted:According to their fancy marketing materials, Vascepa is better than normal fish oil because it doesn't contain DHA, which raises LDL-C. Also it's concentrated. The supplement companies already make EPA only ones. It’s $30 for a month and a half.
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Sep 25, 2018 00:34
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Oh god so it turns out my stepdad and my mom are taking Vascepa.
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Sep 25, 2018 00:47
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Leperflesh posted:Oh god so it turns out my stepdad and my mom are taking Vascepa. Invest in...Life Insurance!
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Sep 25, 2018 00:53
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Well it's fish oil, it is actually good for you, or at the very worst, harmless. And they have good health coverage and probably have prescriptions so they're not paying retail for it. But I know my stepdad is gambling on a number of biotechs and if this is how he picks them, yeesh.
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Sep 25, 2018 01:07
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Leperflesh posted:Well it's fish oil, it is actually good for you, or at the very worst, harmless. And they have good health coverage and probably have prescriptions so they're not paying retail for it. Fun fact on prescriptions: a surprisingly large percentage of people pay more for their copays with insurance than people with no insurance pay for the exact same prescription out of pocket.
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Sep 25, 2018 01:16
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Nottherealaborn posted:Fun fact on prescriptions: a surprisingly large percentage of people pay more for their copays with insurance than people with no insurance pay for the exact same prescription out of pocket. Yeah. They have kaiser though, my stepdad is a retired union man, it's a very very good insurance program. Also, this: https://www.ropesgray.com/en/newsroom/alerts/2017/11/Amarin-Case-Demonstrates-Limits-Of-ITC-Jurisdiction Apparently Amarin is hoping to shut down the sales of pure EPA-only fish oil, claiming it should properly be considered a drug rather than a nutritional supplement. So far they have not succeeded but the failure was apparently on jurisdictional grounds (they appealed to the ITC, which says actually they can't interpret the FDA regs and the appeal should go to the FDA). So the upside is there if they can get the FDA to agree to that, maybe. I personally think, come the gently caress on, it's fish oil extract. How do you get a medical patent for that?
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Sep 25, 2018 01:51
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Ulio posted:GE is an interesting case. I recommend anyone to read this article on how GE went from a leader in it's field to selling most of it's branches, got kicked out of Dowjones, got it is bond rating downgraded 2-3 times in 16 years. One of the best articles I have read this year. quote:In 2004, with U.S. home prices rocketing, GE paid $500 million for a subprime mortgage company called WMC. lol quote:2015 acquisition of Alstom, a big French competitor of GE’s largest business, GE Power, which makes and services the huge turbines that utilities use to generate electricity. lmao quote:After GE halved the dividend in November, it announced in December that 12,000 GE Power employees would be axed. 
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Sep 25, 2018 02:24
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"General Electric chief executive JeffreyImmelt (R), flanked by John Flannery in 2014. Former General Electric CEOJeff Immelt used to fly with two corporate jets when he would travel, a nearly empty jet following the oneImmelt was traveling in, according to a report in The Wall Street Journal" Lmao at returning value to the shareholders.
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Sep 25, 2018 02:32
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Leperflesh posted:Yeah. They have kaiser though, my stepdad is a retired union man, it's a very very good insurance program. You don't. There are other examples of pharmaceutical grade drugs being prescribed for medical conditions that are also sold over the counter. Vitamin D being a good example. Allegra and Benadryl are also good examples. You can buy those over the counter all day. FDA won't agree to it.
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Sep 25, 2018 02:43
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On a flight to LA back in May an older couple was trying to sell me on their fancy salmon oil extract. They were paying Huuuuuge bux and heard about it at a conference
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Sep 25, 2018 03:35
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Lote posted:You don't. There are other examples of pharmaceutical grade drugs being prescribed for medical conditions that are also sold over the counter. Vitamin D being a good example. Allegra and Benadryl are also good examples. You can buy those over the counter all day. The last word from my stepdad: Leper's stepdad posted:No doctor with a sick CVD patient is going to tell a patient that rather than prescribe a insurance covered USP drug, they recommend that they try a Walmart or GNC dietary supplement because if they are lucky, it will be probably be almost as good as the real thing. But probably not and anyway it'll save the insurance co a lot of money. I think that's not the issue (and he's ignoring the underinsured and uninsured), but gently caress if I know, people pay for a lot of stupid poo poo. I wish my dad would at least take some profits now, like, cash out half and let the rest ride.
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Sep 25, 2018 06:16
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Does your stepdad know about aspirin?
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Sep 25, 2018 06:27
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Aspirin is a drug, and regulated by the FDA. Not the best analogy, as I guess what you'd be saying is, why don't people just make tinctures of willow bark instead of buying aspirin? A better analogy would be something like prescription vitamin C.
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Sep 25, 2018 06:58
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Leperflesh posted:Aspirin is a drug, and regulated by the FDA. Not the best analogy, as I guess what you'd be saying is, why don't people just make tinctures of willow bark instead of buying aspirin? Yeah plus doctors absolutely do say “if your insurance doesn’t cover aspirin, buy the biggest bottle of baby aspirin in the pain medicine aisle because it’s just as good”
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Sep 25, 2018 09:35
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Lote posted:You don't. There are other examples of pharmaceutical grade drugs being prescribed for medical conditions that are also sold over the counter. Vitamin D being a good example. Allegra and Benadryl are also good examples. You can buy those over the counter all day. Technically, the FDA does regulate supplements. But...they can't review them for safety and efficacy pre marketing. OTC has nothing to do with drug approval. Tylenol is an FDA approved drug with safety and efficacy data that shows it can be OTC instead of script. But it still has script options for high strength formulations. Another good example is folic acid. It's why prenatal vitamins have to be prescription. Folic acid can hide deficiencies in other B vitamins. If they have safety and efficacy data, they could be approved as a drug, but then other suppliers could likely copycat as you probably can't patent to protect it. Means generics on the market sooner, though depends on margins to see if it's worthwhile I guess. Your insurer can't force you to go OTC if you have a script. So cost to patient would depend on copay. Here's their PDF with current insurance coverage. You can see it is competing with other script fish oil products. But generally is covered. May not be preferred tier everywhere so a different one could be cheaper. https://www.google.com/url?sa=t&sou...OssajAz2l4UUULJ Zauper fucked around with this message at 11:53 on Sep 25, 2018 |
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Sep 25, 2018 11:50
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Oil is still chugging along. Expecting the rally to last another week or so. I'll be looking for another pullback to add to USO.  Also looking for $DXY to start rising, and at the same time a Gold decline. jvick fucked around with this message at 15:33 on Sep 25, 2018 |
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Sep 25, 2018 15:31
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Jenny Agutter posted:lol Pretty much. GE is like that scene from the Simpsons where Homer falls off a cliff and hits every edge on the way down.
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Sep 25, 2018 15:39
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Speaking of which who is still holding GE, I know a couple of you were trying to catch it while falling.
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Sep 25, 2018 15:45
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Is CTL down 9% because the CFO left?
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Sep 25, 2018 16:03
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AMRN is up another 15% today.
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Sep 25, 2018 17:03
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Risky Bisquick posted:Speaking of which who is still holding GE, I know a couple of you were trying to catch it while falling. I've been trying to talk my dad out of buying it "Look at the value! They've been around forever so of course they'll bounce back!" I tell him to look at sears/JCPenny, I tell him to do some actual research into their upcoming products. I suggest safer stocks (Ford et al). He shrugs it all off. Gambling is fun!
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Sep 25, 2018 17:18
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Risky Bisquick posted:Speaking of which who is still holding GE, I know a couple of you were trying to catch it while falling. It’s me, I’m too proud to take the losses.
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Sep 25, 2018 17:37
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Not a Children posted:I've been trying to talk my dad out of buying it  My Uncle was asking me about GE Xmas 2017, saying it was an unbelievable value. I responded it going to tank because of poor management and debilitating liabilities. I tried to tell him the sunny ways of weed stocks and the darling semiconductor AMD was going to break out in 2018 or 2019 depending on enterprise adoption rates 
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Sep 25, 2018 17:48
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Speaking of AMD, I think Microsoft just announced they'll be using epyc for Azure stuff.
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Sep 25, 2018 20:42
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They already had epyc instances for months https://azure.microsoft.com/en-ca/blog/announcing-the-lv2-series-vms-powered-by-the-amd-epyc-processor/
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Sep 25, 2018 20:42
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sold all my EMH and bought more ACB
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Sep 25, 2018 23:20
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greasyhands posted:Is CTL down 9% because the CFO left? Yes. I sold a bunch before but was still a sizable position, so this one hurts.
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Sep 26, 2018 00:25
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imma let these sq calls ride.
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Sep 26, 2018 00:56
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Risky Bisquick posted:Speaking of which who is still holding GE, I know a couple of you were trying to catch it while falling. I couldn't see anything left worth owning when the plan was spin off everything so we can fund golden parachutes. Normally power generation is my thing but they even hosed that up.
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Sep 26, 2018 02:19
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