Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures:
• Bitcoin’s Plunge Means Trouble Beyond Tokens: Robinhood, Coinbase, and Interactive Brokers are getting clobbered, too. But you can protect your portfolio. (Barron’s)
• ‘God is an anti-vaxxer’: Inside the conference celebrating RFK Jr.’s rise: Eliminating the childhood vaccine schedule is among the goals for fringe activists who now claim Washington power. (Washington Post)/
• A Yacht for Your Yacht: Owners of the world’s most conspicuous playthings are younger, wealthier and increasingly American.. (New York Times) see also Hamptons Billionaires Call These Doctors for ‘Boat-tox’ For everything from aesthetic touch-ups to 9-1-1 emergencies, the wealthy are calling on providers who charge membership fees ranging from a few thousand dollars to six figures a year. (Wall Street Journal)
• Scammers are hijacking apartment listings and impersonating real estate agents to con prospective renters: Fraudsters are using real apartment listings and stolen agents’ identities on social media to scam prospective renters into paying fake fees. (NBC News)
• $PZZA Gate, Part 2: The Network Behind Fake Papa Johns News: Papa Johns International ($PZZA) stock surged more than 18% on November 10 after false reports that the company had received an acquisition offer from a private equity firm. The fake news was spread by several websites that appear to be run by U.K. nationals based in Dubai that offer “pay-to-play” placements of articles across their network of outlets, according to Hunterbrook Media’s forensic analysis. (Hunter Brook)
• The 9 most shocking revelations in the Epstein docs: The emails, released by the House Oversight Committee, include exchanges with dozens of prominent individuals spanning over a decade. (Politico)
• The Decline and Fall of the Heritage Foundation: Its descent into conspiracy-mongering and blatant bigotry was utterly predictable (Paul Krugman)
• “Riots Raging”: The Misleading Story Fox News Told About Portland Before Trump Sent Troops: After reviewing coverage from the network and hours of social media videos that preceded Trump’s decision, ProPublica found that Fox’s portrayal of “Portland rioters” routinely instigating violence was misleading. (ProPublica)
• Elon Musk’s $1 trillion pay package and the race to the bottom among states with weak corporate governance laws: The fight to attract big corporations is heating up as states hope to take away some of the incorporation fees and the business litigation that bring Delaware some $2.2 billion annually. Nevada is on its way; Dropbox and TripAdvisor are among those that have reincorporated there since last year. Oklahoma Gov. Kevin Stitt has said, “I’m trying to take down Delaware.” Competition is good. The danger is that as states vie to become corporations’ legal homes, the competition risks becoming a race to the bottom.—Geoff Colvin. (Fortune)
• Marjorie Taylor Greene Knows Exactly What She’s Doing: The “Jewish space lasers” lady may be positioning herself to lead the MAGA movement. (Time)
Be sure to check out our Masters in Business interview this weekend with Bankim “Binky” Chadha, Chief US Equity & Global Strategist and Head of Asset Allocation at Deutsche Bank Securities, a role he has held since 2004.
50-Year Mortgage take a whopping 31 years before the first 25% is paid off, with the bulk of the payments in the first decade just servicing the interest on the debt.
Source: Sherwood
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