btc only down 4% today not bad considering SPY down 3.5%
Look, I’m sure Goldman Sachs was a pretty tough place for women to work, and probably still is, but…
Fiore Higgins, who spent seventeen years at Goldman Sachs, rising through the hierarchy to become a managing director in 2012, never embraced Goldman’s money-driven culture.
a few moments later
Fiore Higgins considered quitting many times, but would find her resolve breaking each January, when lavish bonuses were handed out
Come on.
Yeah… I’d like to feel bad for her but I have a hard time imagining she faced more sexual harrassment in a year than a Hooters server deals with in a month. And I’m pretty confident she made more money per day than those servers make in a month.
I’m not saying it’s right, but I can’t think of many people whose bad experiences I care less about than a GS MD. It’s not like she (unlikely one of her fellow MD’s lol) had to fuck Ted Cruz.
Are you guys familiar with coffee subscriptions?
I took a quick crack at this using:
- $50k income
- $35k debt
- Payments of 4% of gross income
- 5.5% interest rate
- Income growth of 3% per year
- Forgiveness at year 20
You end up paying $53k in payments on the $35k loan for an effective interest rate of 4.04%. Obviously it gets worse the higher your income or the faster it grows, and better the more you borrow.
Income Loan Payments 5.50%
1 $50,000 $35,000 $2,000
2 $51,500 $34,925 $2,060
3 $53,045 $34,786 $2,122
4 $54,636 $34,577 $2,185
5 $56,275 $34,294 $2,251
6 $57,964 $33,929 $2,319
7 $59,703 $33,476 $2,388
8 $61,494 $32,929 $2,460
9 $63,339 $32,281 $2,534
10 $65,239 $31,523 $2,610
11 $67,196 $30,647 $2,688
12 $69,212 $29,645 $2,768
13 $71,288 $28,507 $2,852
14 $73,427 $27,223 $2,937
15 $75,629 $25,783 $3,025
16 $77,898 $24,176 $3,116
17 $80,235 $22,390 $3,209
18 $82,642 $20,412 $3,306
19 $85,122 $18,229 $3,405
20 $87,675 $15,826 $3,507
4.04%
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See discussion on Bogleheads
https://www.bogleheads.org/forum/viewtopic.php?f=10&t=384694&newpost=6846351
Basically it doesn’t seem all that compelling unless you have an unusual mix of going after a very expensive degree that also doesn’t pay very well. With normal incomes and debt levels it works out to getting a little bit of a discount on the interest rate.
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This doesn’t factor in the 225% FPL exclusion though. For a single person that’s roughly the first 30k, so in your example they’d pay 4% of 20k or $800 that first year.
Unless I’m missing something.
What if you factor in that they are all about to become very expensive degrees.
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Don’t know how I missed this, but apes apparently thought Gamestop was gonna start their own stock exchange! On the blockchain, of course. You buy eg AMZN nft’s that represent shares.
That’s what they thought Gamestop’s “GMERICA” was going to be. Instead, Gamestop has announced that it’s just a collection of jpegs they’ll be selling in their nft marketplace. Apes are pretty mad right now.
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nft marketplace, perfect timing, lmao You’re a year too late and way too much $ short gamestop
I may have said this already but the hardware is the part I was extremely bearish on when it launched since there were already bikes of equal or better quality for a third of the price. There just wasn’t an all-in-one turnkey solution with the giant touchscreen and app, so they enjoyed some first mover advantage on that while also being a Veblen good. But I’m checking around various forums right now and it looks like approximately everyone figured out to buy a different bike and pair it with their favorite app. That inventory is brutal. Did they really think there would be indefinite increasing demand for a [checks notes] $2400 exercise bike? Seems like the plan was to just print infinity bikes until the music stopped.
It’s redic how some of these newer IPOd leveraged tech companies have managed to miss/tank almost every every earnings report in stride - even when in late 2020 when they’ve collectively surged. Like, filtering through it to see it and never capitalizing on it is crazy.
comments on that piece are painfully consistent (ESG a scam)
Ah, yes, the party of letting free markets decide!
Someone more articulate than me will be able to explain why this is yet another example of why hoping to reform capitalism is doomed to fail.
Are you talking about ESG? I guess that depends on how you define “failure”. An ESG movement that depends entirely on shareholder advocacy to pressure companies to improve on ESG metrics is kind of like Biden admin legislation - in a vacuum, it’s probably a good thing but against the scope of the problem (primarily climate change) it will 100% “fail” if your grade is a Pass/Fail grade based on ceasing and reversing climate change globally.
The Achilles heel of the ESG movement is that it is being embraced by Boards and C-suites specifically because they see it as a preferable option to actual government regulation. A “self regulatory” ESG regime, which is more or less what we’ve got, provides plenty of space for corporate bullshit so executives love it. And shareholders prefer it to actual government regulation without regard for share price.
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Yea that sums it up pretty well. Adding a bunch of environmental or social goals to corporate decision-making is obviously going to be better than not doing it, but it’s not going to make much of a difference. And even this tiny bit of reform is already being fought by the usual suspects.
We already know some of it isn’t going to actually happen. I think that the total number of trees that companies claim they will save or plant in the next couple of decades is enough to cover 50 earths (or something like that). I guess it’s a small win that for the most part large publicly traded companies have stopped claiming climate change isn’t real, but none of them are asking for the draconian regulation that a) is probably required and b) government’s won’t enact anyway because it would require global coordination by all governments and that’s never happening.