Register a SA Forums Account here!
JOINING THE SA FORUMS WILL REMOVE THIS BIG AD, THE ANNOYING UNDERLINED ADS, AND STUPID INTERSTITIAL ADS!!!

You can: log in, read the tech support FAQ, or request your lost password. This dumb message (and those ads) will appear on every screen until you register! Get rid of this crap by registering your own SA Forums Account and joining roughly 150,000 Goons, for the one-time price of $9.95! We charge money because it costs us money per month for bills, and since we don't believe in showing ads to our users, we try to make the money back through forum registrations.
 
  • Post
  • Reply
LanceHunter
Nov 12, 2016

Beautiful People Club


drk posted:

that robot demo was embarrassing and absolutely no one believes they will have cheap, reliable humanoid robots ready to replace millions of human workers in like 2 years

If Musk's life were a Martin Scorsese movie, this would be about the time everything would move to handheld shots and quick cuts while a Harry Nilsson song blasts in the background.

Adbot
ADBOT LOVES YOU

downout
Jul 6, 2009

pseudanonymous posted:

Sorry to double respond to a post, but there's something I think is important to note a bit here.

The purpose of an audit is to determine if the overall financial statements are prepared in a way that is consistent with generally accepted accounting practices (GAAP). With a focus on revenue. Pretty much every audit uses a 5% margin of error. I.e. a company with 100 billion in revenue could be 5 billion dollars off in it's revenue and still get a clean audit. Auditors use a non-statistical sampling technique, and they are hyper allergic to things like "actual statistics" or "using statistics" or "actually finding anything". US GAAP is a convoluted, rules-based framework explicitly not principles based.

Audit firms are hired by the companies they are auditing.

I want to repeat that here: the person saying yes these books are okay, is being paid out of those books, selected by the company whose books it is. If they determine that those books are not okay, there is a decent chance the company being audited will have issues, and may not be able to pay the audit firm, and in addition, audit shopping is very real.

Audits are not looking for fraud. If they find some, they will dig into it. The incentives are not aligned such that they want to find fraud. Or complex systemic issues where a bank builds a house of cards of CDOs and Credit Default swaps.

My honest opinion is that really good accountants don't spend too long in audit. Occasionally there are some really solid SR managers and Managers, but most of the work in an audit is filling out checklists and tying out numbers given to you by the client.

Most accountants are baffled by actual finance. They rarely interact with complex financial products, and they usually don't really understand them, because, who does?

Most of what I've said, except regarding independence, is also true of regulators.

In general if you study finance or accounting, you're doing it to make money. The most money you can make is creating bizarre semi-legal financial products or really complex hedging structures and things, not testing other people's creations vs rules.

They're not sending their best people.
Thanks for the :effort:, would read again

orange sky
May 7, 2007

Buying twitter stock and calls paid off. I was expecting I'd have to wait until november but apparently he knows hes hosed. A good day

E: bought some tesla puts on the news but he might have sold his stock already.. Here's hoping

orange sky fucked around with this message at 19:34 on Oct 4, 2022

DapperDraculaDeer
Aug 4, 2007

Shut up, Nick! You're not Twilight.
Anyone else wondering if the catalyst for Mush going through with the buyout is him being widely mocked for his latest Ukraine hot take? He doesn't seem to handle that kind of criticism very well and I'm curious how hell react to it when he actually owns the company.

Of course I don't think my curiosity will be satiated since hell almost certainly back out again. Let see if these puts will print for me
...

Fate Accomplice
Nov 30, 2006




DapperDraculaDeer posted:

Anyone else wondering if the catalyst for Mush going through with the buyout is him being widely mocked for his latest Ukraine hot take?

he didn't want to be deposed later this week

Gaius Marius
Oct 9, 2012

God willing he does the right thing and destroys the company

Hadlock
Nov 9, 2004

I would donate a substantial sum to just shut it down the next day

These might be dead gay forums, but gently caress that 240 character trash fire

Hadlock
Nov 9, 2004

Is the market going to panic about Thursday Oct 13 CPI numbers on Friday or Monday

Trying to figure out when I should cash out this ITM call TQQQ 10/14 $21, or ride this horse until Wednesday 10/12 AM

Zephyris
May 23, 2006

If you only knew the power of...
Just a friendly reminder that the BFC Discord is an extremely helpful place to chill and lose money with friends.

https://discord.gg/aVbTc8SW

orange sky
May 7, 2007

Man I'm so tempted to make a quick 6% with some more twtr... There's no way he escapes now, but putting more money on this bet makes me tremble a bit

Upside Potential
Jun 14, 2006
If you think this guy is terrible, wait till next year.
Checked out the discord all they do is talk about eating rear end.

Pastrami
May 27, 2004
Fear the Lunch Meat
Those monsters

Woodchip
Mar 28, 2010
Eating rear end? On stock trades? It's more likely than you think.

cirus
Apr 5, 2011

cirus posted:

Going to look for entry on $MOTS they were named sole source supplier for VA colonoscopies this is huge news for a close at 2.34 yesterday

Got in at 1.75 yesterday looking really good

downout
Jul 6, 2009

cirus posted:

Got in at 1.75 yesterday looking really good

Nice, you can sell ~50% and be almost 100% in the money.

Sand Monster
Apr 13, 2008

There are a few mods that add new monsters / NPCs to the game. One of them is sea creatures, for example. Anyone tried those?

ranbo das
Oct 16, 2013


Sand Monster posted:

There are a few mods that add new monsters / NPCs to the game. One of them is sea creatures, for example. Anyone tried those?

Well given most of my positions are underwater this year it would certainly be thematically appropriate

John F Bennett
Jan 30, 2013

I always wear my wedding ring. It's my trademark.

I would like to know more about these sea creatures

LLCoolJD
Dec 8, 2007

Musk threatens the inorganic promotion of left-wing ideology that had been taking place on the platform

Block me for being an unironic DeSantis fan, too!

Sand Monster posted:

There are a few mods that add new monsters / NPCs to the game. One of them is sea creatures, for example. Anyone tried those?

I don't recommend that anyone else try this. My shipping company lost a ton of value after the latest kraken attack on a superfreighter.

Baddog
May 12, 2001

LLCoolJD posted:

I don't recommend that anyone else try this. My shipping company lost a ton of value after the latest kraken attack on a superfreighter.

damnit, we've got enough black swan events happening already without loving Cthulhu popping up and eating all our iphones

GoGoGadgetChris
Mar 18, 2010

i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

Baddog posted:

damnit, we've got enough black swan events happening already without loving Cthulhu popping up and eating all our iphones

An iPhone case will keep your screen safe from kraken

wynott dunn
Aug 9, 2006

What is to be done?

Who or what can challenge, and stand a chance at beating, the corporate juggernauts dominating the world?

GoGoGadgetChris posted:

An iPhone case will keep your screen safe from kraken

:fireman:

Sand Monster
Apr 13, 2008

Sand Monster posted:

There are a few mods that add new monsters / NPCs to the game. One of them is sea creatures, for example. Anyone tried those?

:laugh: I'm an idiot, had my Valheim thread open and this one and clearly replied in the wrong one. Sorry about that.

pseudanonymous
Aug 30, 2008

When you make the second entry and the debits and credits balance, and you blow them to hell.

GoGoGadgetChris posted:

An iPhone case will keep your screen safe from kraken

My Iphone case specifically calls out that it protects from krakens, sea beasts, and other denizens of the briny deep, and my phone has never been damaged by the aforesaid, so I'm confident it's works.

Sokani
Jul 20, 2006



Bison
https://twitter.com/POTUS/status/1578097880744820736

Now it's a green day for me.

pseudanonymous
Aug 30, 2008

When you make the second entry and the debits and credits balance, and you blow them to hell.
So Oregon is allowing landlords to increase rent by up to 14% starting January 1st.

I'm sure this won't cause any structural issues in the economy.

LLCoolJD
Dec 8, 2007

Musk threatens the inorganic promotion of left-wing ideology that had been taking place on the platform

Block me for being an unironic DeSantis fan, too!
Good day for CGC, etc. holders.

GoGoGadgetChris
Mar 18, 2010

i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

pseudanonymous posted:

So Oregon is allowing landlords to increase rent by up to 14% starting January 1st.

I'm sure this won't cause any structural issues in the economy.

Well, from 1859 to 2019 they were allowed to increase it Inifinite%. We enacted rent control starting with 2020, and it only affects buildings that are over 15 years old (and buildings 'roll in' to the requirement when they turn 15; it wasn't a one-time classification). The base allowance is 7% plus the CPI published by BLS. Rent control also only applies to renewal increases (vacant units can be increased by any amount)

2018 rent growth was about 3.5%

2019 rent growth was about 4.2%

(Rent Control Arrives, but also some other stuff happened...)

2020 allowed for 9.9%, average rents basically stayed flat (negative 0.1%)

2021 allowed 9.2%, average rents went up 13.5%

2022 is allowing 14.6%, average rents are up 4.8% YTD

The permitted increases aren't just a decree that The Rent Shall Rise. It's only been a few years, and said years have been dominated by the pandemic, eviction moratoriums, the flight from and return to urban centers, inflation etc, so the little data we have is pretty tainted. But! So far it seems like landlords are not taking the permitted limit as guidance and are primarily going with what The Market supports

I work in LIHTC & section 8 apartment finance so it has been an Interesting several years to say the least...

Elephanthead
Sep 11, 2008


Toilet Rascal
What’s up section 42 comrade

q_k
Dec 31, 2007





https://finance.yahoo.com/news/vix-surge-150-day-biggest-212916700.html
How would you even offload something like this? If vix spikes up to near all time highs, buyers know it's going to drop soon after. Are they just hoping to off load at ~$35 or $40 and that someone else wants to be a bag holder on some way out of the money calls?

pmchem
Jan 22, 2010


https://twitter.com/TheTranscript_/status/1578367507903021057?s=20&t=kPKUBlVwaefHUAmaV6yKoQ

these graphics are pretty neat

also, poster above, vix isn't a directly traded product (although vix futures are, as /vx). it's calculated. and the counterparty will be a market maker who is somehow hedged.

hot cocoa on the couch
Dec 8, 2009

lol those tax rates

drk
Jan 16, 2005

hot cocoa on the couch posted:

lol those tax rates

They're all in the 13-16% range, which doesnt strike me as that unusual for US companies?

GoGoGadgetChris
Mar 18, 2010

i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog
Can anyone make a case for keeping shares of Hewlett Package (HPE and HPQ) and IBM?

These seem like dead names to me but they're about 90% long term capital gains and so the tax hit will be a bit of a whammy (blow softened by my capital losses on Cortexyme, the memory of which still stings because I diligently take my Cortexyme(tm).

I inherited an account with those as well as some JNJ and PG, but there doesn't seem to be any reason to part with those two any time soon.

hot cocoa on the couch
Dec 8, 2009

drk posted:

They're all in the 13-16% range, which doesnt strike me as that unusual for US companies?

look at the tax rates when the companies were founded

Hadlock
Nov 9, 2004

What is the calculus on selling now vs long term dividend returns

IBM is a hulking zombie but they'll pay out dividends until we're both cold in the ground

Unknown about HPE, IBM is a zombie but my guess is HPE is running on fumes a lot more than IBM and strong target to dismantle the company for short term profit ala Sears

Hadlock
Nov 9, 2004

John F Bennett posted:

What's so special about September?

:allears:

John F Bennett
Jan 30, 2013

I always wear my wedding ring. It's my trademark.

It's October now, what happened?

Elephanthead
Sep 11, 2008


Toilet Rascal

John F Bennett posted:

It's October now, what happened?

My pumpkin futures are soaring! Gonna hold till December

Adbot
ADBOT LOVES YOU

hot cocoa on the couch
Dec 8, 2009

Elephanthead posted:

My pumpkin futures are soaring! Gonna hold till December

yup. pumpkin yields are insane this year and no sign of slowing down. we're going to the moon brother

  • 1
  • 2
  • 3
  • 4
  • 5
  • Post
  • Reply