Friday, August 09, 2019

Loose ends...

---Reading about the amazing life of Toni Morrison, there was one completely unexpected fact. In 2008 and 2009, she and Fran Lebowitz toured together as a talking tandem.  That's a combination that was not expected.

---Apple's decision to enter the credit card business seems odd on the surface, but then again maybe not.  Teaming with Goldman Sachs, not remotely known for retail banking, the card will be available widely.  Subprime credits are being accepted.  Huh?  Apple products are not cheap, but they are ubiquitous.  Would a consumer rather plop down an Apple card or a United Miles one.  Chase Freedom, Discover, or Capital One Quicksilver?  The cachet of an American Express card is long gone, and so are most of its once unique attributes.  The rewards on the Apple card could be interesting, and it will be a brand extender.  Question here is, do they really care about making money on this business and how much of the credit risk will be absorbed by Goldman?

---The stock market is hard to decipher at the moment.  Recently sold a large position in the old style conglomerate 3M as they just sit and do nothing, sold Morgan Stanley as see more downside than upside now, bought Kraft Heinz after their collapse yesterday thinking how could things get worse, added to Square and to Salesforce(CRM) as these payments technologies are creative financial intermediaries without credit risk, and added to a beleagured position in recent IPO of LEVI. Get out the weak hands and it will pop is my thought.  Am I doing real investing or do I just have too much time on my hands?

---Those seeing my activity on Facebook, Messenger, Blogger, and e-mail would probably say the latter.

---Bought some over the counter CBD oil today.  Oh, my knee hurts and anxiety abounds.  There is no THC in this now widely used hemp derivative, but some say there is a hint of a good feeling at times.  My doctor says it's just a placebo effect.  That might be nice.


Post a Comment

<< Home