hogFeast

35 ms·

241.
by hogFeast 5y ago
No, it isn't the same in the US. Reserves are vault cash plus deposits at the Fed. You cannot use USTs to count towards your reserves (and it wouldn't matter if you could, the reserve ratio isn't a binding monetary policy too
242.
by hogFeast 5y ago
> Somebody is on the wrong side of this trade in a big way. The reason why European yields are so low is because financial institutions are forced to own govt bonds. That is it. Europe is one of the only markets where you really see this
243.
by hogFeast 5y ago
The reason smaller stuff is slightly more expensive is shipping costs. Compare two identical products in any store, the larger one will be cheaper, the smaller one will be more expensive, and this scales with weight. TLDR: people who have n
244.
by hogFeast 5y ago
I remember interviewing for some grad roles. No hackerrank, no bullshit, very straightforward companies with "easy processes". Both had one "interview day", and five/six interviews total. I read your comment and I w
245.
by hogFeast 5y ago
I was going to say that there are tons of parallels with how some fund managers approach investment. I have met lots of people who have this trait for over-analysis, not one has ever made consistently profitable investments. Over-analysis i
246.
by hogFeast 5y ago
They don't. That is what the article is about.
247.
by hogFeast 5y ago
> If he had called on me I was going to get out of my chair and take two steps, grab my chest, drop to the floor and hope they called 911. Used this tactic many times myself. You pull it once, they call 911. You pull it twice, they usual
248.
by hogFeast 5y ago
This depends very heavily on the product. With some products, for example food, you have to win your customer back every month. Additionally, it is often very difficult to correlate certain kinds of ads to sales...but if you look at the mar
249.
by hogFeast 5y ago
I am 100% in the camp that someone should have resigned but to say that there was a "coordinated political attack" makes no sense. Salmond had already made himself totally irrelevant. He was lobbing grenades from the sidelines thr
250.
by hogFeast 5y ago
Okay, to make this clear: the company that I am talking about earned a 67% return on investment...does this sound high or low level of profitability? Margin tells you nothing, businesses are not valued on margin but by return on capital (of
251.
by hogFeast 5y ago
AMZN hasn't built out close to consumers fast enough (I don't necessarily mean last mile here). Chinese online retailers, as an example, were able to same-day delivery, do lots of volume, hold lots of SKUs but do this with less sp
252.
by hogFeast 5y ago
Margins are the difference between what it cost, and what you earned. But what I would call "profitability" is your actual return versus capital deployed. For example, I know a retailer that earns a 1% margin...terrible? No. They
253.
by hogFeast 5y ago
I come at this from the other point of view: I used to work as an equity analyst (analysing companies), and I ended up gravitating towards retail. The issue, as you imply, isn't only that Amazon is very good but the experience at many
254.
by hogFeast 5y ago
I agree. Imo, 99.99% of public discussion is driven by this motive...but that is probably because 99.99% of public discussion is always driven by that motive. This is how people be. On this issue specifically though, I would say that it mak
255.
by hogFeast 5y ago
Correct. Lots of people bought into the stock at a valuation in excess of fundamental value, bankers saw an opportunity, equity holders got rinsed, and debt holders got paid in full immediately on a junk credit.
256.
by hogFeast 5y ago
They will divest. This depends on the PR situation where the company is. But if I was sitting on the board of an energy producer that was under real pressure (an example of this is Shell), my thought would be: right, am I going to have sell
257.
by hogFeast 5y ago
I have thought a lot about this. I am not sure that I have an answer because the way in which everyone (inc. myself) thinks about financial markets appears to be totally wrong (I am in the UK, we have had several rounds of QE since 2010...e
258.
by hogFeast 5y ago
Yes...I think it is HTZZ now they are out of bankruptcy.
259.
by hogFeast 5y ago
Are you familiar with Mogdilani-Miller? Being able to pay off debt does not increase the value of equity. The capital structure has changed but that makes no difference for the actual value of the business (which is determined by cash flows
260.
by hogFeast 5y ago
Just in my experience as an investor, I have never seen anything like this. And I am somewhat familiar with financial history, and I have never heard of anything like this happening either. It isn't just all the fraud SPACs, it is GME,
261.
by hogFeast 5y ago
No. 100% of them wouldn't. People get their views about politicians, generally, from people who are opposed to them: that person is an X, they must believe Y because they are an X. It is ludicrous. I would rely on first-hand evidence.
262.
by hogFeast 5y ago
Right, but there is no concept of "financially successful" hospitals because no-one is paying for anything (success is measured in terms of input/output...the UK also does poorly here because we overpay massively for doctors,
263.
by hogFeast 5y ago
Exactly. The cost and effectiveness of advertising is why there are a limited number of choices. Your choice has been made for you.
264.
by hogFeast 5y ago
It clearly is quantifiable. The market is changing but if you capitalize advertising costs in financial results then you see that long-term investment in advertising does produce results, and companies in these industries view this investme
265.
by hogFeast 5y ago
And Germany is one of the countries with relatively good public coverage. I am in the UK, we don't get medicine for some things because it is too expensive: HRT has been in shortage for years, we don't get most newer cancer drugs
266.
by hogFeast 5y ago
That would be true if everyone wasn't also asking the same questions. So you are just testing whether the person knows that you ask that question or has interviewed at other places that do (I have seen this in other industries too: fir
267.
by hogFeast 5y ago
Because they were fabricating sales numbers, channel stuffing, misreporting expenses...Autonomy was a fraud, the numbers weren't real, the CFO is already doing time.
268.
by hogFeast 5y ago
It isn't dissuading people from exposing "govt wrongdoing". Information that is confidential is not the same thing as "govt wrongdoing" or non-public. No-one is being dissuaded because the same situation would exist
269.
by hogFeast 5y ago
Correct, they shouldn't be protected because that is espionage. The "journalist" works for Russia, they are a foreign agent, they are just calling themselves something else. Also, your comment is exactly why people are confus
270.
by hogFeast 5y ago
I think one of the reasons behind this proposed change is keeping up with changes in what it means to be a journalist. In the UK, public interest has never been a defence. And given the increasing role that nation states are having in leaki

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