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mk




I am probably working on Hubski.

Send me a PM or post with the tag #bugski if you think something is broken.

I am ignoring #thebeatles.

I do not agree with everything that I post. I hope you don't either.

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comments 28
mk  ·  link  ·  parent  ·  post: Post your first bike.

I still ride my second bike. The Mesa Runner.

SF VC is all sorts ridiculous.

However, I think the author is missing something. The dude was chastened because he was bragging about not investing in a company that failed. It’s something insanely easy to do, and basically worthless. If he just left out the part about them passing multiple times, the criticism would be fine.

VC pass on dozens of companies for each one they invest in, if not more. Saying you’re smart because you passed is inane.

mk  ·  link  ·  parent  ·  post: Pubski: September 11, 2019

I swear I should just leave the keys under the mat, and the first person here should open the place.

I'm headed to Norway atm to see steve and mike!

mk  ·  link  ·  parent  ·  post: Pubski: September 11, 2019

like the juice here.

What a day to forget...

I believe so. My understanding is that in ETF rebalancing equities that are part of the basket are treated like nothing but paper, mindlessly bought, mindlessly sold. Unlike a mutual fund, there is no one worried about the value of the ETF. And when lots of ETFs need to do the same thing with the same stock, it could be really good or really bad for the stock.

    The same mindless mechanism that gave them life will kill them off.

What I meant, is that the same mindless ETF inclusion that gave life to equities will remove it.

    Honestly...I feel even dumber writing this all out.

Don’t. We all have momentary lapses. Just an hour ago I turned a sprinkler on that was pointed at my face.

I'm glad you got out safely! That's definitely a memory you won't lose to time.

Those are some clean breaks. I am curious about the details. How far was the drop from the boulder? How deep was the water?

    The problem in 2008 wasn't mortgages defaulting, it was the annihilation of the derivatives whose value was determined by those mortgages. The problem with ETFs won't be any hypothetical drop in the underlying value of the equities that make up the ETFs - the problem will be the mechanism by which those losses are translated into the ETFs because there's leverage and transformation between the values of the two.

Ah, got it. I've been keeping an ear to the liquidity thing, but this situation makes some more sense to me.

So there's a bunch of shitty low liquidity stocks making up ETFs that are going to get vaporized once the market moves in such a manner that the index funds require re-balancing and no one is looking to buy them. The same mindless mechanism that gave them life will kill them off.

Hm. So Burry is saying “This is an Italian Fire Hall”, and Carlson is saying “Index Fund people exit just like everyone else”?

mk  ·  link  ·  parent  ·  post: Pubski: September 4, 2019

That’s awesome to hear. Maybe next year then. :)

mk  ·  link  ·  parent  ·  post: Pubski: September 4, 2019

Back to school. Our daughter is in 2nd grade now. That's a crazy thing to me. I showed her The Dark Crystal a couple of weeks ago, and as the credits rolled, she said: "That was a good movie." Ever since, she's been occasionally making the skeksi Chamberlain's "hmmm." Last night I saw that Netflix has a reboot series. However, it's rated PG, and looks a bit too dark for now. It doesn't look too great anyway. I am sure they rushed it out to catch the 80's wave.

Interesting, I just came across this:

    According to co-director Frank Oz, Henson's intention was to "get back to the darkness of the original Grimms' Fairy Tales", as he believed that it was unhealthy for children to never be afraid.

https://en.wikipedia.org/wiki/The_Dark_Crystal

I do agree with Jim.

I think we'll do The Never Ending Story next.

Since my wife and her have been to China a couple of times without me, my daughter asked that we do a Daddy/daughter trip somewhere. Next month we are going to Maine for a long weekend. I booked an AirBnB cabin, and didn't realize it has no electricity. That should make it even better.

I'm going to get a bow. My dad had a great non-compound with something like a 40lb pull, but I don't know where it went. I'm going to try to track it down.

posts and shares 12/19