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Tren Griffin @trengriffin
, 3 tweets, 1 min read Read on Twitter
I experienced a Black Tuesday not Black Monday since in 1987 I was working in the Korean time zone. The crash started in Hong Kong on October 20 and migrated west. I had worked in Australia the year before, watching what were called Great White Sharks. afr.com/business/black…
"On that historic day, the sharemarket opened 25 per cent down. Heavyweight stocks traded at only three-quarters of their price the day before and many lightweight stocks did not trade at all because there was no market in them." AFR
HOWARD MARKS: "Portfolio insurance convinced people that they could somehow own more stocks without increased risk, which is fanciful. And like all silver bullets, it didn’t work." bloomberg.com/news/features/…
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"According to the survey results, the median pay for full-time writers was $20,300 in 2017, and that number decreased to $6,080 when part-time writers were considered. The latter figure reflects a 42 percent drop since 2009, when the median was $10,500."
In my blog post on writing books I wrote: "6. Don’t expect to earn more than the minimum wage and be thrilled if you earn more." google.com/amp/s/25iq.com…
"In Mémoires (1759), Voltaire recalled how in his youth he had come across so many writers who were “penniless and held in contempt” that “he had decided not to add to their number.” laphamsquarterly.org/luck/voltaires… "Thanks to his fortune he was free to pursue his writerly life."
Read 3 tweets
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"Companies can lose a lot of money in their early years but be wonderful businesses if they are acquiring customers with long lives and strong variable margins."

But some businesses just do the losing money part. A critical skill is knowing the difference between the two types.
Customer-based corporate valuation (CBCV) = valuing a business on a "bottoms up" basis by valuing the customers. In a subscription business especially, this is an essential process if you want to understand if real value is being created despite a lack of current GAAP earnings.
"CBCV isn’t about being profitable from day one. It’s about variable profitability in net present value terms (while still being mindful of fixed cost overhead of course!)" Determining whether a specific business is a delicious cheesecake or a turd requires detective work.
Read 6 tweets
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“The Fasten Seat Belt sign is now illuminated. If you haven’t already done so, please check your cash and cash equivalent balances. Please lower your burn rate and make sure your defensive investments are in their full upright position.”
“If you find yourself needing an emergency exit from illiquid investments, please read carefully the special instructions card. Cash is more king than ever. If you can’t handle the haircut you are about to experience, please ask someone to do the selling to raise cash for you.”
“We remind you this remains an uncertain and no sympathy correction. No one knows anything for sure as is usual. Crying and whining is prohibited, including in the lavatories. Tampering with, disabling or destroying your brokerage statements is pointless and prohibited by law.”
Read 5 tweets

Related threads

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Former Head of Organization Backed by Chinese Energy Conglomerate Convicted of #InternationalBribery, #MoneyLaunderingOffenses

Schemed to Bribe the President of Chad, President and Foreign Minister of Uganda
justice.gov/opa/pr/former-…
A federal jury in NY City today convicted the head of a #NGO based in Hong Kong & Virginia on 7 counts for his participation in a multi-year, multimillion-dollar scheme to bribe top officials of Chad & Uganda in exchange for business advantages for a Chinese oil and gas company
Chi Ping Patrick Ho, 69, of Hong Kong, China; found guilty today of 1 count of #Conspiring2Violate the #ForeignCorruptPracticesAct (FCPA), 4 counts of #ViolatingFCPA, 1 count of #Conspiring2Commit #InternationalMoneyLaundering & 1 count of #CommittingInternationalMoneyLaundering
Read 13 tweets
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#Khashoggi Case Thread: I am going to ‘pin’ this post to use it as an ‘Info Thread’ on the #Khashoggi Case. I am in #Turkey. I’ve been following the case closely and with access to sources & experts here. This is a very ‘sensitive’ criminal case due to ‘Diplomatic Booby Traps’!!!
The Evidence Obtained Outside Cameras will not show any evidence of ‘tempering’ but other than license plates of dozens of diplomatic cars (Many with tinted windows-large trunks) with related time stamp, drivers Info, model/year: Nothing.
#Turkish Intel-Investigative Bodies also have the list of all Diplomatic & Private Saudi & “other significant’ Planes in #Turkey for the period of ‘interest.’ Many of the Target airports have their own security cameras & related evidence.
Read 335 tweets
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001/ [article content in this tweet series 001-180 reproduced with permission from Martin Howe QC of Lawyers for Britain @lawyers4britain]
#quote "Leaving the EU on WTO terms: pulling down the barriers to world trade
Introduction: why prices will FALL after Brexit, not rise" /002
002/ #quote "Over the past couple of weeks, the media have been full of lurid scare stories about what will happen if the UK leaves the EU on WTO terms, because negotiations with the EU do not result in a withdrawal agreement." /003
#tariffs #NoDeal #Brexit #WTO #ProjectFear #shortages #food #medicines
003/ #quote "One of the most ridiculous and UNJUSTIFIED of these absurd scare stories is that it will lead to higher prices, and even shortages, of foods and medicines." /004
Read 180 tweets
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#Australia Prime Minister @TurnbullMalcolm now facing calls to resign from those in his own party.
Update:
It seems all but certain now that @TurnbullMalcolm will only continue as prime minister of #Australia for a matter of hours.
Read 4 tweets
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THREAD

#Nikulin #SDNY #Giuliani #Comey #HumaAbedin #ComeyLetter #FBI #HillaryClinton
1. Today it became known that #Czech Authorities has extradited Yevgeni #Nikulin
to the #UnitedStates

reuters.com/article/us-cze…
2.#Nikulin faces indictments for Hacking #LinkedIn, #Dropbox and #Formspring in the #UnitedStates

justice.gov/opa/pr/yevgeni… …
Read 57 tweets
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#Australia should have same-sex marriage legalised by #Christmas after an overwhelming 61.6% “yes” vote in the voluntary postal ballot, to 38.4% for the “no” side.
#marriagequality #samesexmarriage
#YesForEquality
Let's look at the numbers #thread
theconversation.com/australians-vo…
After the decisive result, Prime Minister Malcolm Turnbull declared it was now up to parliament to “get this done”, as the result triggered celebrations across the nation by the supporters of change.
Click through to interact with the map + see how your electorate voted:

theconversation.com/australians-vo…
Read 5 tweets

Trending hashtags

#MoneyLaundering #Kingdom #yourewelcome #ParklandShooting #OANN #UK #trade #onhere #prices #Rosenstein #Russia #ChequersPlan #trademark #prohibit #Rogue #NGO #Monday #TheUgandaScheme #TrumpRussia #LostHighway #exporters #China #UgandaScheme #Clinton #HighAlert

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