I hope they’re ok
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Good thread; buybacks don’t get nearly enough press. Especially in the context of firms that repurchase at the market price only to issue new shares to insiders at a drastic discount.
https://twitter.com/chrisbloomstran/status/1585761878193545216?s=46&t=0wXb_MC-ev7Q-5QdwgRT7Q
Isn’t most of this compensation to (non-exec) employees? Or is it actually Zuck and friends enriching themselves?
Obviously it would be more efficient to pay them directly, but that’s only if the stock depreciates.
Working in the NCIB space, suddenly it went from super busy to dead in less than two months.
Buy backs are just returning cash to shareholders. Acting like the particular price of the buyback means anything is dumb.
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What’s NCIB? And what’s the significance of the slowdown?
Lol, I managed to convince every member of my extended family to buy a 10k ibond.
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I love Matt Levine, but this podcast is borderline unlistenable. Everyone just talking over everyone else nonstop. Just stfu and let Levine talk for an hour!
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Stonks
Sad. I posted before watching out of excitement and I only made it 3 minutes in before getting dragged into work stuff and pausing.
normal course issuer bids- aka share buybacks. Unsure if it’s now because the companies are feeling the economic crunch or they all blew their load the last 6 months when the markets were down further
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Ehh, I was probably too harsh. It’s always good to listen to Levine talk. And I did come away with a couple of book recommendations:
https://www.amazon.com/Diary-Very-Bad-Year-Confessions/dp/0061965308/
https://www.amazon.com/Great-Depression-Diary-Benjamin-Roth-ebook/dp/B002TJLEVE/
https://www.amazon.com/Mezzanine-Nicholson-Baker/dp/080214490X/
https://twitter.com/netflix/status/1570427241107857408
This was a good watch, not a whole lot of new information if you were following closely but it was interesting to see the faces behind the names involved, pretty much everyone looks exactly like you would think they would. They also interview some people who put their net worth into gme shockingly most of them did not come out ahead one guy even had to sell his house.
Maybe, but some level of harshness is absolutely correct. The hosts, Josh and Michael, are both Long Island finance bros and match the obnoxious stereotype. The more I watch of the different podcasts on this channel, I think I’m enjoying Animal Spirits more than the others. It pairs Michael with Ben Carlson, a finance dude from Grand Rapids.
Read NCBI (https://www.ncbi.nlm.nih.gov/) at first, which would be pretty cool, but not really appropriate for this thread.
My grocery delivery driver rolled up with a decked out Range Rover and a custom license plate that said “Mr. Dolla”. Recession is here.
My BIL is up to his eyeballs in credit card debt and has a $1300 car payment, LOL AMERICA
The fuck does he drive?
You would be shocked how normal that is these days. When I was looking at buying a new car most payments for something well within my price range would have been $800. All these people buying $80k trucks and SUVS are paying close to $1300.