After 3 years the CM bids farewell. Thank you to all those who agreed, disagreed and added to the discussion. Current commitments prevent me from continuing it. I close in the hope that it managed to challenge conventional thinking. It is not a matter of always being right but testing the assumptions of the herd.
If you ever followed The Far Side cartoons by Gary Larson, you might recall the one titled “Hopeful parents“. It depicted a child playing video games while the parents dreamt of all of the successful job opportunities that lay ahead for saving the princess. Goldman Sachs predicts that the prize money for e-sports (aka video game competitions) will be over $1.3bn out to 2022. Time to dust off the Nintendo Donkey Kong. Do they still make batteries for these?
These places look amazing for off the beaten track travel away from tourist traps…
Palu, South East Sulawesi, Indonesia
Bahubulu Island & Labengke Island, South East Sulawesi, Indonesia
Tanjung Sampara, SouthEast Sulawesi, Indonesia
…alas travel advisories warn of the recent 7.5 magnitude quake, aftershocks and tsunami in Central Sulawesi on 28 Sept 2018. Communications and transport infrastructure damaged in Palu. Central Sulawesi seems to be home to more political unrest and terrorism.
Lonely Planet suggests,
Few visitors make it to Southeast Sulawesi, but if you’re yearning to explore and have a passion for coral reefs and off-grid travel, you’ll be richly rewarded here….The top attraction is Wakatobi National Park, encompassing four main islands off the southern tip of the peninsula once known as the Tukang Besi Islands. They offer some of Indonesia’s best, and least crowded snorkelling and diving. Meanwhile, the walls of the old kraton (walled city palace)at Bau Bau on Pulau Buton are some of the most well-preserved and impressive bulwarks in the country, worthy of a side trip in their own right.
There is no better example of how climate change activists create more fairytales to keep the alarmism going. This article found its way into the Mosman Daily. In a suburb where there are more SUVs per square metre than any other in Sydney, what better audience to publish an article to warn owners of Fifi & Pookie there is an elevated risk of climate change!
The dog psychology units should expect to be on standby with a deluge of visits from Lucy the miniature schnauzer and her friends who have become depressed by the changed weather cycles. Canine coiffure salons will be inundated with strict instructions to make sure that organic pet shampoos with natural menthol give them the sensation of feeling cooler to prevent them being triggered.
All those Mosman mothers should cut back on skim flat whites and Lululemon leotards because of the high amount of man-made fibers made from fossil fuels. Let’s not even begin to consider the make up and Chanel No.9 de parfum derived from minke whale blubber they slap on much less the three cans of hairspray used before meeting the girls for tennis…
Shame on those teachers that pushed students to hold a climate change rally in Martin Place today. They missed a huge opportunity to give a voice to the pooches of Mosman to prove that a lower incidence of tail wagging is solely caused by climate change even though the reality is the $1,000 silk cushion from House & Home was torn to shreds when mum was sipping macchiatos and gluten free muffins on Avenue Road.
Shame on the author for not demanding that McIntosh Mercedes, Audi & BMW Mosman be forced out of their Military Road dealerships for their unconscionable corporate greed. Rich Mosman husbands are lining up to buy gas guzzling two door sports cars which gives them the right to exploit the T3 lane when they pick up their mistresses on Cowles Road.
Reading articles like this reinforce the hysterics of the climate alarmists. Should make anyone sleep more soundly at night. By the way, don’t tell anyone but seaside properties in Mauritius continue to make higher highs. The teachers have missed that tidbit too. Then again it doesn’t fit the narrative.
CM is not a fan of crypto currencies. Apart from the fact they are solely backed by greed (when you buy a share or bar of gold you get ownership of a physical asset in return) there are too many of the damn things. We have approximately 190 fiat currencies in circulation. Of that only a handful trade. US$, GBP, euro, yen, A$, C$ and RMB. After that liquidity goes out the window. Try getting a good rate from the Travelex currency window on Malaysian ringit. If you invest in illiquid coins the same nasty spreads will ruin any thirst for making a fortune
With crypto currencies, there are over 2,000 variants. Bitcoin is the bellwether. It has a net worth of $94 billion. Only a handful of others trade. Many should have realised that when the Japanese started to get all excited over the craze the gig was up. Japanese variety show comedians were responsible for the promotion almost 12 months ago when Bitcoin was at all time highs. Some companies like Rakuten were offering to pay staff in crypto in lieu of cash salaries. Now Bitcoin is languishing at 20% of that value.
Take a look at some of the products being invented to become crypto. LivingOffset is a classic case in point. It used Wikipedia as a source for justifying the validity of its findings in its prospectus. That settles it then. Who wouldn’t buy an asset backed by Wikipedia research?!?
From LivingOffset – “Global concern about climate change is growing rapidly. Five out of every 10 people now consider climate change to be a serious problem. In Chile and Peru the number is over 75%. Interestingly, 69% of Americans are concerned about global warming [if you believe Huff Post], despite their government’s position. There is no doubt demand for our offering is there, and like Airbnb, we can provide the means and the mechanism for easy participation. In just a few minutes ordinary people can start to make a real and meaningful difference.”
In January 2017, IPSOS held a global poll asking what each country’s major problem was and climate change didn’t feature a mention.
Apart from the completely bogus stats on ‘69% of Americans being concerned by global warming, SUV sales remain a solid staple in the US. In fact the most popular car in America is the Ford F-150 pick-up truck where customers rank ‘fuel economy’ #28 in terms of reasons they buy it.
Here was the promise at prospectus time around March 2018. The launch was delayed on the basis there was a need to make it more global in appeal. It supposedly launches this month.
Below lists how some of the other crypto currencies performed overnight. This is before heavy handed legislation has come down to regulate the industry. If you look at a crypto kiosk in Shinbashi, Tokyo you’ll likely see a Rolls-Royce parked out front, presumably owned by someone in the Yakuza. As far as money laundering goes, crypto’s are brilliant.
In an event, crypto currencies are most at the mercy of cyber fraud. Don’t buy the bomb proof guarantees of blockchain. If state agencies want to destroy these markets, they can do it on a whim. Then again there is little need to do so given the numerous events of hackers breaking into crypto exchanges and costing them huge liabilities l. Coincheck in Japan lost $500mn in one day due to a breach.
In short, crypto is little better than betting on a roulette table. If the benchmark crypto is hemorrhaging like this, why put faith in the illiquid stuff being any better? Fiat currencies may not be good stores of value but there are far more sensible places to protect wealth than parking it in products which are underwritten by nothing more than greed. If you like a flutter by all means throw some loose change into crypto.
What have both these stocks have in common? Apple & GE have both held the title for world’s largest stock by market capitalisation at one point in time. GE was worth $594bn at its peak during the tech bubble. Apple has been valued at over $1 trillion this year but is at $921bn as of today. The irony of over the last 7 days Apple has lost more market cap than GE is worth, two times over. How the mighty have fallen.
Japan – where wine is half the price of coffee. The wine wasn’t out of this world but then again neither was the coffee. Fuzzy logic or gouging young mothers with children in Omotesando? Probably the latter. Smart.