Nose Dives, Tailspins and A Tale Of Two Mothers…
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A good Good Friday to all of you out there in the land of global investment, and an eventful week its been.
United Airlines Tailspin
It started pretty well with headlines in mainstream media and credible news sources (like this one) running with the United Airlines PR gaffe of gargantuan proportions.
Not so much a gaffe but the MOAFU! Yes, The Mother Of All Fuck Ups.
Not only were those head case security personnel caught (on camera) manhandling a passenger and dragging him up the aisle, but the share price went into a tailspin by the end of business on Monday 10th after the CEO showed support for his overly aggressive staff.
If the MarketWatch chart on United reflected actual turbulence, then you can be sure the UAL CFO was reaching for the sick bag provided in the back of the seat in front.
A lawyer representing the passenger asserted he had lost a couple of teeth, suffered a fractured jaw on top of the humiliation and trauma, and plans to sue United. I should bloody well think so.
Tesla Motors Proves Down is Up
As the week moved on we got another installment of how great Tesla Motors is and how they’re more valuable than GM and Ford. Hmm, yes….h
Look, I’ve been involved and around the trading of New York markets and various other places for three decades and can tell you, anyone will agree that excitement sells on Wall Street and other places too.
What I am having trouble dealing with is not the share price and valuation in arguably the sexiest car company ever created, but how on God’s green earth can that company post a $675,000,000 USD loss and sell a meagre 1% of the cars that either of the two motor giants did that same year?
Well, without boring you with earnings per share averages and various other technical data I’ll tell you this: Clean and green are in, and filthy and dirty are out! Its that cut n dried. The next generation of adults will be buying renewable energy powered motor vehicles and I probably will too, so think long, very very long, term.
Gold Bug Season
The week went on and gold hit another new high. Ooooooh!, you might be saying. What’s going on there, then? Are we heading for another crash? “I’m still paying for the last one”, you might bemoan at the chart since November. Well, my answer is, yes, we could be… there is the possibility of that in the not too distant future, so jump onto some gold as a bit of insurance.
America Trumped By China
As the tension increased with North Korea we saw another U-turn from the new occupant of the big house at the end of Pennsylvania Avenue in DC. This time it was on the currency manipulation accusations leveled at China.
Thats a bit weird. Last month they were well and truly at it, had been for years, resulting in damaged US trade and stolen American jobs. Trump’s people bellowed, “Let’s send in the fifth fleet to teach ’em a lesson, grrrr!”
That was the kind of rhetoric coming from Pennsylvania Avenue not so long ago. Now its “erm.. yeeeaaa.. no… they didn’t manipulate their currency….”, hmmmmm.
Mother Of All Bombs
To end the week we come to the second Mother, as the headline suggests there are two to this tale.
We’ve gone from MOAFU to MOAB
The US military dropped the biggest non nuclear bomb known to mankind and the GBU-43, to those in the know or by its acronym: Massive Ordnance Air Blast. Hehe, if that wasn’t cool enough sounding some clever soul came up with Mother Of All Bombs! Ha Ha, you gotta love the fact that people can add humour to something so undeniably awful.
Banks Are Not Laughing
That laughter was short lived when we looked at the prices of the oh so reliable and buoyant banking stocks this morning. Somethings not right there.
With a piece of ordnance that large (30 feet) and devastating, with a blast yield of ten tons (fuck me) and originally ‘designed to intimidate Iraqi soldiers unquote (are they kidding me?)
The fall out was felt on Wall St.
Perhaps someones gone into the easter break with a view to buying up some of those shares in banks..
Stranger things have happened, your mother should know.
Until next time