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CEO’s are paid a lot in absolute terms. (Typically 5mm in cash). But the majority of their compensation is in stock and operating performance based incentives.

he’s editorializing a lot. you are paid for the impact you provide. A McDonald’s worker is paid what he is because he (as an individual) has little impact on the value creation at McDonald’s. The CEO has huge impact as his decision and leadership affects the hundred thousand workers at the...

So the middle class can be scumbags too. there was an article about rich people in New York hiring disabled kids to go to Disney with them so they could skip the lines.

it was a bad joke, but it was just locker room talk. (Like in mar-o-largo locker rooms)

you must be incensed. So many non-whites in the room and the collective net worth is like a trillion dollars.

From whitehouse.gov which transcribed the whole speech: PRESIDENT BIDEN: Okay. We — I was just thanking the — anyway, I started off without you, and I sold a lot of state secrets and a lot of very important things that we shared. (Laughter.) Now, all kidding aside — look, we’re teaming up...

the doorman bring it on a dolly.

it’s a different mentality to own dividend paying stocks. It’s no different than owning real estate. Or owning bonds to clip the coupon until maturity.

Whatever mainstream media you consume, Russia invaded Ukraine. They didn’t even pretend that Ukraine started via a false flag (like hitler with Poland). and no matter what truthfulness, everyone expected a Russian flag in Kiev and that is certainly not the case.

if you had an open mind you would be on your way to six figures of net worth too.

I dont get how all these maga people are pro Russia. I can understand rationally not supporting US aid to Ukraine, but how are you all pro Russia? I would think you all would be anti-invasion and anti-aid. Anti-invasion because who is pro-invasion of a sovereign country? it really makes me...

im not arguing with a conspiracy theorist. Might as well play chess with a pigeon.

Heheh. It’s very seductive and very sneaky. I’ve been thinking about how to calculate ROIC for my book. For two of the key strategies it’s easy. But I can’t figure out how to do the vol piece. How would you calculate invested capital for a vol book? I’m struggling with this part.

In the book valuations (published by McKinsey) they say the only real quality value creation can be seen when you seek to maximize ROIC. Maximizing ROE can mask poor quality returns through leverage.

You aren’t this dumb in real life, are you?

holding top secret documents in a bathroom is safer than a vault at the white house. Bathrooms have locks.

correct. If you are using derivatives for synthetic leverage you would need to adjust for that (ie short put and call overwrite would have the same ROIC)

I guess Crenshaw is saying we should be looking for all those cocaine subs that run aground too.

You arevsubstantially more of an authority on taxes than the rest of us.

i'm pretty sure you weren't banned for calling out Microsoft.