Somewhere after Joe’s post about windmills this morning, the Fool slammed the door on the Quagmore. Etcetera is also closed. Rat’s “it is what it is” was closed a week or so ago.
Steve
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…the Fool slammed the door on the Quagmore.
So, no more Quagmore?
DB2
So, no more Quagmore?
Nope, no Quagmore, or the more public one, the Quagmire.
Crossed my mind to start a board and spin the title like it was investing oriented. Something like “leveraging political winds for investing success”, or “how pols messed up my investing strategy”, or maybe “applying game theory to corruption in making investing decisions”
Steve
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New board: “Identifying political corruption and choosing the stocks that benefit from it”
Thus my 30+ years of overweighting drug companies.
intercst
2 Likes
New board: “Identifying political corruption and choosing the stocks that benefit from it”
Thus my 30+ years of overweighting drug companies.
Drug companies do actually produce products, some of which are beneficial. It’s only the corruption that allows them to gouge the living daylights out of people.
I would say the greatest beneficiaries are banks and insurance companies. They are, at best, pimps, that create nothing, but, rather skim off the labor of others. Yet they get themselves made key parts of programs and made indispensable, to increase their skim.
Steve…positions in Goldman and JPM
I would say the greatest beneficiaries are banks and insurance companies.
I agree on the corruption, but I’ve avoided banks and insurers because too much of the revenue is lost to Executive Compensation, with less to the shareholders who shoulder the financial risk.
intercst
I agree on the corruption, but I’ve avoided banks and insurers because too much of the revenue is lost to Executive Compensation, with less to the shareholders
You saw my post about Jamie Dimon? JPM total shareholder return for 21 was 28%, below the industry average. Meanwhile, Dimon’s compensation grew from $31M in 20 to $84M for 21, some 170% higher. I could be snarky and say “just think how much he would have made if he had delivered average returns to shareholders”, but it’s obvious that CEO compensation is completely divorced from returns for shareholders.
…but that is just another vector of shinyness.
Steve
3 Likes