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https://www.bloomberg.com/news/articles/2020-07-30/inside-goldman-s-five-day-race-to-seal-a-1mdb-deal-with-malaysia

 

interesting recount of high-stakes negotiations.  really high-stakes.  like a couple of billion dollars high.

goldman initial offer was 200M.  malaysia wanted 7B.  they settled on 4B.  i guess the most powerful figures in the most powerful company in finance weren't that strong-armed.

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Seeing reports that the GDP report is going to be brutal. Thankfully, it's already priced in and we're ready for more record high stock prices!

Edit: -32.9% for Q2 GDP growth. Holy fuck

Edited by Captainant

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Futures were already down before the GDP release but once the numbers were made public, futures did basically fuck all.

If a 32.9% drop in GDP doesn't move things, we're going higher.

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Just now, Fudge Nuggets said:

Futures were already down before the GDP release but once the numbers were made public, futures did basically fuck all.

If a 32.9% drop in GDP doesn't move things, we're going higher.

If GDP is plummeting but stock values go up, and unemployment remains at record highs, isn't that what stagflation looks like?

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18 minutes ago, Captainant said:

Seeing reports that the GDP report is going to be brutal. Thankfully, it's already priced in and we're ready for more record high stock prices!

Edit: -32.9% for Q2 GDP growth. Holy fuck

But zerohedge expected -99% GDP rate, so this is pretty much counts as an earnings GDP beat, right?

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So lemme get this right... markets are forward looking and the gdp number actually wasn’t even as bad as anticipated yet the market took a big shit based on gdp report?

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2 minutes ago, bluto said:

So lemme get this right... markets are forward looking and the gdp number actually wasn’t even as bad as anticipated yet the market took a big shit based on gdp report?

In the same quarter:

US unemployment hit record highs

US economic output shrunk by 10%, correlating to a -32.9% annual GDP growth 

US stock market hit record highs

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6 hours ago, 52-80 said:

side rant:  i dont know why these fuckers wont use a wordpress or single-page blog instead of this microblogging bullshit

It’s called Twitter 

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3 minutes ago, BradInATX said:

1.5% swings barely get a "huh.. look at that" out of me these days.

We'll probably get it all back by COB tomorrow today.

They probably dosed JPow with about 15 hits of acid in his morning coffee.

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3 hours ago, Captainant said:

If GDP is plummeting but stock values go up, and unemployment remains at record highs, isn't that what stagflation looks like?

if inflation rips, then yes.  But thus far we haven't seen 'inflation' in the way policy makers have it defined (although clearly asset inflation has taken place).  Right now, all anyone is scared of is deflation, or dis-inflation if you're a central banker.

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8 hours ago, 52-80 said:

side rant:  i dont know why these fuckers wont use a wordpress or single-page blog instead of this microblogging bullshit

As somebody who spends 3-4 hours buried in the back-end of WordPress (think NowThis, but instead of a giant black butt plug, it's a blue and white icon with "WP" on it), they absolutely should  be using it something like twitter.

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I feel like I'm the only person who talks about overstock, and I've mentioned it here about 10 times, and it shot up 30% today after a positive earnings.

 

Apparently they're bringing in so much more revenue and traffic through their pivot to crypto currency.

 

What?

 

I mean, it doesn't sound like a BLATANT, OUTRIGHT scam the likes of Nikola and other Chinese stocks.  And it's low volume, but with consistency and smoothline growth so it's not exactly a pump and dump operation.

 

So what's going on here? I don't get it

 

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It's half institutionally owned.  And there's been much more net insider buying than selling. Again, not a pure PnD

 

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1 hour ago, 52-80 said:

I feel like I'm the only person who talks about overstock, and I've mentioned it here about 10 times, and it shot up 30% today after a positive earnings.

 

Apparently they're bringing in so much more revenue and traffic through their pivot to crypto currency.

 

What?

 

I mean, it doesn't sound like a BLATANT, OUTRIGHT scam the likes of Nikola and other Chinese stocks.  And it's low volume, but with consistency and smoothline growth so it's not exactly a pump and dump operation.

 

So what's going on here? I don't get it

 

You talking about O dot Co? 

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2 hours ago, Trey3216 said:

You talking about O dot Co? 

Yes, The world's favorite discount bedsheets retailer

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23 hours ago, 52-80 said:

I feel like I'm the only person who talks about overstock, and I've mentioned it here about 10 times, and it shot up 30% today after a positive earnings.

 

Apparently they're bringing in so much more revenue and traffic through their pivot to crypto currency.

 

What?

 

I mean, it doesn't sound like a BLATANT, OUTRIGHT scam the likes of Nikola and other Chinese stocks.  And it's low volume, but with consistency and smoothline growth so it's not exactly a pump and dump operation.

 

So what's going on here? I don't get it

 

Overstock has been a total scam for over a decade.  Is that maniac CEO still in charge?

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They have been sued countless times for securities fraud over the last dozen years or so.  A google search of "overstock securities fraud" returned 235,000 hits.

I'm not going through each and every one of them.

Edited by Fudge Nuggets

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To be fair, any time there's a big move in a stock that is even arguably inconsistent with news from the corporation, the class-action stock fraud vultures pounce.

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Well I guess you can call the SEC stock fraud vultures but they have a bit more bite than the typical ambulance chaser.  

And it looks like the psycho CEO left late last year after the SEC got all up in his shit.  Stuff like that had been going on for years.

https://www.sltrib.com/news/2019/11/16/stock-utah-based/

Edited by Fudge Nuggets

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