Category Archives: Wall St.

Uber Founder Ejected

uber founder ejected

Uber investors forced C.E.O. Travis Kalanick out of the company he founded.

Here’s Reuters:

The resignation sent shockwaves through Silicon Valley and leaves Uber’s board of directors with the problem of finding a dynamic leader who also has a steady hand needed to heal Uber after a bruising six months.

Uber Founder Ejected

And here’s MIT Technology Review on Uber’s driverless car problem:

Its new CEO will inherit many problems, but a business plan based on the elusive dream of driverless cars is the largest.

Bull in the Swamp

dow bull

When President Trump rides high so does the stock market. The Dow Bull has surged 2,700 points since his election.

Trump and Bull Get Swamped

But as allegations from unnamed sources rise in the media, President Trump sinks in the swamp. Apparently, so does the stock market. The Dow lost 373 points on Wednesday. The experts say investors worry that if Trump goes down so will his agenda for tax cuts, less regulation, and more growth.

Most experts that is.  Wharton professor Jeremy Siegel, says the market could spike 1,000 points if Trump resigns.

Update: Well, as of noon Friday the Bull has clawed back over 200 points of Wednesday’s losses. Maybe I was just looking for an excuse to draw an alligator.

 

 

 

Obama Wall Street Fat Cats Speech

fat cats

Barack is back. He will give a speech to the Wall Street firm Cantor Fitzgerald in September. HIs fee? $400,000. The same amount as his annual salary as president.

President Obama had harsh words (at no extra charge) for Wall Street bankers in 2009. He called them “fat cats who don’t get it.”

Elizabeth Warren isn’t happy.

 

American Health Care Act Repeal and Replace

american health care act

In a WSJ op-ed this morning, Speaker Paul Ryan calls he American Health Care Act “the boldest and most conservative health-care legislation to come before Congress in decades.” He plans to repeal and replace ObamaCare without “pulling the rug out” from under those who benefit from the new entitlement. President Trump is all in.

But House Freedom Caucus leaders say it’s not bold enough.

We’ll see. They vote today.

Trump’s Animal Spirits

161205animal spirits

James Fallows, in the October Atlantic, says Jane Goodall told him that Donald Trump reminds her of a chimp:

In many ways the performances of Donald Trump remind me of male chimpanzees and their dominance rituals,” Jane Goodall, the anthropologist, told me shortly before Trump won the GOP nomination. “In order to impress rivals, males seeking to rise in the dominance hierarchy perform spectacular displays: stamping, slapping the ground, dragging branches, throwing rocks. The more vigorous and imaginative the display, the faster the individual is likely to rise in the hierarchy, and the longer he is likely to maintain that position.”

Animal Spirits

The elite made a monkey of Trump before the election. But since then he’s released the stock market’s animal spirits. Oil and the dollar dig The Donald too.

Many 401-k investors are bullish because stocks have hit record highs. But Clinton Foundation investors – not so much.

Well, at least one Clinton supporter has done ok. Warren Buffett’s Berkshire Hathaway is up 8% since the election.