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Markets still falling like whoa

Llano Estacado

By Llano Estacado
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StruggleBus

StruggleBus 3922

Posted
Posted
1 hour ago, Nice Guy Eddie said:

Jumped into my first MS Teams meeting yesterday. I was a complete noob and had the computer microphone and phone both unmuted at the same time. I guess everyone has to do that once. 

While I still prefer WebEx, I can see the ease of integrating my Teams chats, pages, files along with quick calls.  Teams could be a strong contender to replace WebEx for me.

Who joins a meeting by phone and computer audio?

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LTtxfan

LTtxfan 49148

Posted
Posted
2 hours ago, Parliament said:

Vanguard's Total Stock Index (Wilshire 5000) and Total International Stock funds paid dividends this week. How are those dividends determined? It's not just the underlying stocks' dividends accumulated for 3 months than paid out. It's more complicated than that, right?

https://www.investopedia.com/articles/investing/082415/how-mutual-funds-pay-dividends-overview.asp

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Parliament

Parliament 14249

Posted
Posted
20 minutes ago, LTtxfan said:

https://www.investopedia.com/articles/investing/082415/how-mutual-funds-pay-dividends-overview.asp

So it IS as simple as passing through dividends?  So why where they so low this month?  If they reflect company dividends form the last quarter (Dec-Feb I assume), Covid wasn't much of a factor yet.

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Nice Guy Eddie

Nice Guy Eddie 13509

Posted
Posted
29 minutes ago, StruggleBus said:

Who joins a meeting by phone and computer audio?

Teams did it automatically.  You join the Teams meeting, I set it to call my mobile #, which it did, but it also connected my laptop Mic but muted it.  I then unmuted thinking it had muted my phone. WebEx doesn’t work like that. 

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StruggleBus

StruggleBus 3922

Posted
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8 minutes ago, Nice Guy Eddie said:

Teams did it automatically.  You join the Teams meeting, I set it to call my mobile #, which it did, but it also connected my laptop Mic but muted it.  I then unmuted thinking it had muted my phone. WebEx doesn’t work like that. 

Got it. I’ve never used Teams. Only webex and zoom.

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Horns99

Horns99 155

Posted
Posted
Same set up here. MS making moves with teams deployment? 


Another teams fan here. We are a huge multinational company & have moved everything to Teams. We have group meetings / calls through it & use Chat all day long on it. Not a single issue since all the work from home madness started
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Armybrat

Armybrat 40826

Posted
Posted (edited)
3 hours ago, Okie State said:

We also have Teams and it was supposed to replace Skype, but hasn't yet. I haven't tried a meeting through Teams. Not sure why we have WebEx, Teams, and Skype. Oh yeah because we're a big corporation.

Also a co-worker unknowingly had her webcam on with WebEx yesterday. I sent her an IM to let her know and she dove under her desk. Pretty funny to watch.

That rule has not been suspended.

Edited by Armybrat
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Sbbruin

Sbbruin 21830

Posted
Posted
Just now, Johnny Sack said:

Buy land AJ.  God isn't making any more of it.  

That's my philosophy.  I like rents better than the market.  Always have.

I was just talking to a buddy who’s also in commercial RE.  We both felt there are going to be some, great buys coming out of this.  Not to be a vulture, some of the stuff that is mom n pup owned that will have a lot of defaults will hit the market and when banks are sitting on shitloads of this stuff they’ll sell it for whatever.  I may spend some personal cash on some good real estate buys.

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Johnny Sack

Johnny Sack 8397

Posted
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4 minutes ago, Sbbruin said:

I was just talking to a buddy who’s also in commercial RE.  We both felt there are going to be some, great buys coming out of this.  Not to be a vulture, some of the stuff that is mom n pup owned that will have a lot of defaults will hit the market and when banks are sitting on shitloads of this stuff they’ll sell it for whatever.  I may spend some personal cash on some good real estate buys.

Yes.  And the money to buy it is cheap right now.

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ChiTownDoc

ChiTownDoc 21144

Posted
Posted
32 minutes ago, Johnny Sack said:

Yes.  And the money to buy it is cheap right now.

Opportunity zone RE is truly once in a lifetime opportunity if anyone has large cap gains to offset.  Zero taxes now and in 10 years, if you hold, only cap gains on original principle and zero taxes on gains.  Unreal.  

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GRHorn

GRHorn 105

Posted
Posted
2 hours ago, Mantis Toboggan, MD said:

 

I know he sold Barstool to penn gaming, I’m assuming for stock, that subsequently declined 75% or so. Is there something else?

There’s no sports to bet on and he’s a degenerate so he put $4M on an eTrade account to daytrade. He’s down a couple hundred grand. And he live-streams it. The times I’ve tuned in for a few minutes it’s pretty funny. He does stuff like buy Shake Shack because he likes the burgers. 

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TonyTexas

TonyTexas 10508

Posted
Posted
10 hours ago, Mantis Toboggan, MD said:

 

I know he sold Barstool to penn gaming, I’m assuming for stock, that subsequently declined 75% or so. Is there something else?

Penn National’s initial investment for 36% of the equity of Barstool Sports is comprised of approximately $135 million in cash and $28 million in shares of non-voting convertible preferred stock

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52-80

52-80 19147

Posted
Posted
48 minutes ago, TonyTexas said:

Penn National’s initial investment for 36% of the equity of Barstool Sports is comprised of approximately $135 million in cash and $28 million in shares of non-voting convertible preferred stock

How the fuck is barstool worth half a bill?

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Blotto

Blotto 23491

Posted
Posted
47 minutes ago, 52-80 said:

How the fuck is barstool worth half a bill?

That's about 5X annual revenue which isnt that out of the ordinary for a private company valuation growing at their pace. Portnoy plays the fool pretty well on camera, but I suspect he's a fairly sharp guy. 

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52-80

52-80 19147

Posted
Posted
1 hour ago, Blotto said:

That's about 5X annual revenue which isnt that out of the ordinary for a private company valuation growing at their pace. Portnoy plays the fool pretty well on camera, but I suspect he's a fairly sharp guy. 

That's a standard multiplier but how the full are they taking 100m in rev?  Afaik they are  a few blog and a YouTube channel?

 

 

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Blotto

Blotto 23491

Posted
Posted (edited)
1 hour ago, 52-80 said:

That's a standard multiplier but how the full are they taking 100m in rev?  Afaik they are  a few blog and a YouTube channel?

 

 

They have a massive audience in a valued demographic. Companies will pay a lot for access to the Stoolies. They move a lot of branded merchandise, have  a number of corporate tie-ins with big brands, and if the sports ever come back, they will be getting a share of sports betting revenue from Penn. Once Penn bought in, you saw a huge increase in content dedicated to sports gambling. Obviously the timing of the Rona isnt ideal for that revenue stream, but it will come back at some point.

While I was a much bigger fan of the content when it was just a handful of bloggers figuring it out, Portnoy has built a pretty successful media company.  Probably the biggest example of their success if PardonMyTake. Take a look at the guests they get on that podcast. As predominantly an online company,  they are running laps around ESPN and a lot of other big media companies in growing a presence in non-traditional spaces like podcasts. 

https://variety.com/2019/digital/news/barstool-sports-podcast-revenue-1203305912/

 

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hornbri

hornbri 1396

Posted
Posted
4 minutes ago, Parliament said:

So is overnight trading up or down?  It's getting worse out there, but it seems like the downslope is (sorry for this) priced in.  I think we'll be choppy until something new, bad, happens.

I don't think we see them until about 5 o'clock on Sunday evenings. 

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Lurch

Lurch 5922

Posted
Posted
So is overnight trading up or down?  It's getting worse out there, but it seems like the downslope is (sorry for this) priced in.  I think we'll be choppy until something new, bad, happens.


I’d guess an even bigger unemployment number is the next kick to the nuts.

1) There are likely a ton of small companies that thought they could ride it out for a week or two without layoffs that are going to have to pull the plug in the next few weeks as payroll comes due.

2) I’ve seen tons of complaints about not being able to file last week, so that insane number was likely low and perhaps those will catch up this week.
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Harrison Stafford

Harrison Stafford 3335

Posted
Posted
12 hours ago, GRHorn said:

There’s no sports to bet on and he’s a degenerate so he put $4M on an eTrade account to daytrade. He’s down a couple hundred grand. And he live-streams it. The times I’ve tuned in for a few minutes it’s pretty funny. He does stuff like buy Shake Shack because he likes the burgers. 

This will end poorly for David Portnoy.

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Blotto

Blotto 23491

Posted
Posted

Continued large daily swings are probably a given, and my guess is that the overall trend  will be heading down. We still have zero clarity on how bad this will get and what the effects will be on the economy. We haven't come close to peak  infection yet so uncertainty will continue to reign.The only positive news comes in continued Fed spending, but that comes with trade-offs and can be quickly overwhelmed by bad news in the form of growing cases/deaths coupled with increasingly restrictive lock-down efforts if the government chooses to go that direction. Positive news on the medical front (testing, vaccines, etc...) can have a huge impact, but estimates are all over the map. 

Its a fucking mess and it doesn't appear that we can rely on our national government to get its shit together and inspire confidence. The markets rallied around all of the stimulus news, but none of it has been implemented successfully yet. I'm expecting a giant clusterfuck rolling that out which will further erode confidence that DC can stop stepping on its dick.  I'm not trying to make a partisan point here, simply stating that it will become increasingly clear what a dysfunctional shitshow exists in DC as this is unfolding right as the election cycle is upon us. Thats not what we need right now, but its what we have.  

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Lurch

Lurch 5922

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Posted
Unemployment claims are reported EVERY week?  On Thursday?


Claims are every Thurs at 830, reflecting claims through prior Saturday.

Monthly unemployment number is due on April 3, but it will reflect numbers from the week of March 8-14, so it won’t yet be impacted by corona.
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babysdaddy

babysdaddy 2721

Posted
Posted

Vix at 80 means investors think daily moves of 5%. 40 means 2.5%. It is an Expectation of volatility over next 30 days. Think we closed Friday at 65 or something. On 3/14 I think it spiked at 82 or 83. Meaning I think we’ve got another week or two of volatility, which happens to coincide with peaking in NYC. I expect good news this week on a trend line front from Italy.

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HRSchenker

HRSchenker 2268

Posted
Posted

I have a ton of limit orders out right now. VTI at $95, VNQ at $50, VYM at $50, and BP at $12.50. Very likely none hit but we'll see what happens in the next 30 days.

15 hours ago, GRHorn said:

There’s no sports to bet on and he’s a degenerate so he put $4M on an eTrade account to daytrade. He’s down a couple hundred grand. And he live-streams it. The times I’ve tuned in for a few minutes it’s pretty funny. He does stuff like buy Shake Shack because he likes the burgers. 

What's wrong with that? I prefer investing in individual companies that I like and understand rather than view them as tickers that go up and down on a daily basis. Although Shake Shack is not a company I'd bet the farm on...

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Harrison Stafford

Harrison Stafford 3335

Posted
Posted
1 hour ago, HRSchenker said:

I have a ton of limit orders out right now. VTI at $95, VNQ at $50, VYM at $50, and BP at $12.50. Very likely none hit but we'll see what happens in the next 30 days.

What's wrong with that? I prefer investing in individual companies that I like and understand rather than view them as tickers that go up and down on a daily basis. Although Shake Shack is not a company I'd bet the farm on...

What's wrong is the fact he like their burgers is, quite likely, the >only< reason he's buying that stock.  If he's trading with delayed quotes and purchasing stocks with funds he doesn't really have, why would anyone think he's doing any sort of DD?

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ChiTownDoc

ChiTownDoc 21144

Posted
Posted

I'd be amazed if S&P didn't drop a 100+ tomorrow.  If Trump has no issue already pushing these measures to April 30, then you know Memorial Day is very much in play for many of these measures to be extended to.  I has a sad about the MDW vegas trip.  I still think slowly opening up restaurants etc with precautions in May is realistic...packed bars and football?  Yikes

 

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Wally Fairway

Wally Fairway 5541

Posted
Posted
1 hour ago, hornbri said:

nothing about this market amazes me anymore. 

yeah - I've basically quit looking at futures/pre-market (since I don't trade during those times), and they seem to be able to switch direction.
I'll usually look about 5 minutes before open to see where they are and the direction they've been headed into the bell.

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atomheartbevo

atomheartbevo 89630

Posted
Posted

Remember the lawmakers who made some....questionable stock trades after getting a briefing on the covid stuff back in January and early February?  Including the Senator whose husband is the chairman of the NYSE?

Turns out the Department of Justice and the SEC (not the incesty SEC) would like a word with them, and the FBI is helping out.

https://www.cnn.com/2020/03/29/politics/justice-stock-trades-lawmakers-coronavirus/index.html

Quote

The Justice Department has started to probe a series of stock transactionsmade by lawmakers ahead of the sharp market downturn stemming from the spread of coronavirus, according to two people familiar with the matter.

The inquiry, which is still in its early stages and being done in coordination with the Securities and Exchange Commission, has so far included outreach from the FBI to at least one lawmaker, Sen. Richard Burr, seeking information about the trades, according to one of the sources.

But it’s routine to have an investigation when something looks fishy, as the article mentions, and it doesn’t mean they are guilty.

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Fudge Nuggets

Fudge Nuggets 19189

Posted
Posted
4 hours ago, atomheartbevo said:

Remember the lawmakers who made some....questionable stock trades after getting a briefing on the covid stuff back in January and early February?  Including the Senator whose husband is the chairman of the NYSE?

Turns out the Department of Justice and the SEC (not the incesty SEC) would like a word with them, and the FBI is helping out.

https://www.cnn.com/2020/03/29/politics/justice-stock-trades-lawmakers-coronavirus/index.html

But it’s routine to have an investigation when something looks fishy, as the article mentions, and it doesn’t mean they are guilty.

They will have an investigation to appease the peasants, but exactly jack shit will come out of it.  Oh, maybe one of the Senator's housekeeper will go to jail for not being cooperative to the investigation but that will be about the best you can hope for.

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