CFA, MBA, BBA - been in the investing business since 1990 on both the fixed-income and equity sides of the capital markets. Started Trinity in 1995.
Chicago, Illinois
Joined June 2012
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Good analysis
What we’ve learned about the Blackhawks after 12 games ⤵️
nytimes.com/athletic/7732302…
Yes and no. Don’t forget it’s also about the capital needed and whether debt or equity will be issued. Look at Meta.
Exactly. David sounds like Julian Robertson when Tiger Mgmt closed in 1999,
This is how many Value managers felt in the late 1990s... then Growth blew up. Value shined again, and GARP was popularized as a way for Growth managers to attract assets from an investor base that became allergic to higher P/E stocks and growth strategies. 30 years later, we're back to a similar "value" is dead mentality. This is one reason that past cycles often rhyme - Wall Street recycles investors through generational cycles who didn't learn or experience the lessons from prior generations.
It’s the shot differential that’s gets me. Hawks getting half the shots on goal relative to opponents.
With all due respect, none of this is new Bill. But it’s good to see it in black and white. Maybe one reader will see the light after listening to the media and politicians for years.
Premise:
Incentives drive all human behavior.
The corollary:
How to destroy a country:
A vast social security and support system that serves as a magnet for those who would rather not work.
An open immigration policy that does not screen immigrants to determine their ability and willingness to provide for themselves and their families.
An open immigration policy that does not screen for political and/or religious ideologies that are a threat to the country.
Economic incentives large enough to incentivize immigrants on the state dole to have large numbers of children, but insufficient for educated and economically productive mothers to be able to quit to raise a family.
The declining fertility of the most educated and productive women due to their delay to begin a family as a result of their desire and/or need to advance their careers, among other reasons, to live a life they deem consistent with their educational achievements and/or to repay their student debts.
Amnesty programs that give citizenship and voting power to illegal immigrants without consideration of their economic productivity or their threat to the country due to their religious or political ideologies.
The changing demographics and increased population due to the above factors.
The state responding to protests by increasing social support.
The continued failure to punish and hold accountable violent and looting rioters.
Government managed by a massive and growing unelected bureaucracy.
Government fraud, waste, and abuse contributed to ballooning budgets.
Anti-business legislation that makes it difficult for businesses to compete in a global marketplace being disrupted by AI, including restrictions on firing even poorly performing employees.
Overly burdensome, globally uncompetitive, corporate taxation.
Continuous increases in personal taxes to raise funds to provide for the rapidly growing welfare state.
The substantial majority of the tax burden levied on a small percentage of the population.
A growing percentage of the electorate paying no taxes and receiving welfare.
The introduction or threat of a wealth tax including the taxation of unrealized gains, i.e., taxes on paper wealth.
The flight of the most productive business builders and highest taxpayers to lower tax countries with lesser security concerns.
A growing percentage of the electorate voting for candidates that support increased welfare and laws favorable to, and/or that match the cultural and ideological needs and desires of a growing unproductive immigrant population.
The rapid rise in anti-semitism and inadequate efforts to address this hatred.
Increased borrowing by the state to fund the growing social burden.
Higher sovereign interest rates due to all of the above.
The resulting need to reduce expenditures to make the math work.
Increasingly violent protests that make life less livable for the productive and law abiding citizens leading to their accelerated departure.
And so on…
They sure did. He made everyone around him better.
The Blackhawks looked like a different team tonight with Connor Bedard back in the lineup.
He ignited the first line, and the second line also delivered its best performance of the season at the right time.
Postgame notebook: chicago.suntimes.com/blackha…
Great news.
BREAKING: Eddie Olczyk is returning to the Blackhawks as a team ambassador and will join the CHSN studio for a select number of games ⤵️ nytimes.com/athletic/7675448…
Leave him out for the full 3 weeks. You don’t win a playoff spot in the first 4 weeks of a season.
"We're kind of right within a three week window now for Connor Bedard to return to the Hawks lineup."
@PatBoyle__ gets an update from @frank_seravalli on Bedard's possible return to the ice: