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Around February 13th, while the market was close to its all-time high, Senator Richard Burr suddenly went on a selling spree.

He didn’t sell one stock. He sold, sold and sold. Manufacturers. Biotechs. Tech firms.

Among his biggest sales: two hotel companies.
Burr dumped stock in Wyndham (WH) and Extended Stay America.

Wyndham has lost nearly 2/3 of its value since.
Extended Stay America has lost exactly half its value since.

Boy, Senator Burr timed that well, didn’t he?
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The Hoarse Whisperer
@HoarseWisperer
A week ago, Pirro was bashing Dems and calling concerns over COVID-19 a politically motivated hit on Trump.

Here’s the problem with these belated 180-degree about-faces by people like Pirro...

1/
There is a psychological principle called “the persistence of discredited beliefs”.

Basically, once a person has been made to believe something, they cannot be made to *fully* disbelieve it - even when shown irrefutable evidence.

2/
Belief perseverance is a form of confirmation bias.

It’s a phenomenon that Fox News uses regularly for effect. They make salacious statements and then walk them back a little knowing the damage is done. (eg the Seth Rich conspiracy theory)

3/
Read 5 tweets
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The Hoarse Whisperer
@HoarseWisperer
Video leaks of Kanye lying to Taylor Swift about the lyrics of “Famous” - just like she said he did.

Swift has to be singing “Look What You Made Me Do” today.

🎶 Maybe I got mine but you’ll all get yours 🎵

Kanye and Kim Kartrashian absolutely dragged Swift alleging she lied.

Kanye actually led audiences to chant “Fuck Taylor Swift”

Turns out Kanye and Kim are the liars. Color me unshocked. Kanye is a hot mess.
For the record, I love a lot of Kanye’s music. The dude is a first-class asshole though.
Read 3 tweets
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The Hoarse Whisperer
@HoarseWisperer
The Gambler has left the table.

RIP Kenny Rogers
And now I’m sitting in an empty parking lot, windows downs, singing a full-throated “Lucille”.

🎶 You picked a fine time to leave me Lucille
Four hungry children and a crop in the field 🎵
I think I’ll roll right into “She Believes in Me” and then bring it home with “Islands in the Stream”.
Read 3 tweets

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Robert Reich
@RBReich
Think about this:

Weeks before you had any inkling you were going to lose your job, Senator Kelly Loeffler was selling off millions of stocks — and *buying* stock in a teleworking company.
Weeks before you were scrambling to figure out how to homeschool your children for who knows how long, Senator Richard Burr was selling off his stocks in hotel chains and telling wealthy constituents behind closed doors to prepare for the worst.
Weeks before you were frantically trying to get your college student home before quarantines went into effect, Senators Burr and Loeffler knew exactly what was coming — and they took care of their own personal wealth instead of warning the rest of us.
Read 4 tweets
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Renato Mariotti
@renato_mariotti
THREAD: Did Senator Richard Burr engage in insider trading when he sold off $1.6 million in stock while he was receiving briefings about the coronavirus?
1/ Today @propublica reported that Senator Burr sold between $582,029 and $1.56 million of his stock holdings on February 13 in 29 separate transactions, including companies vulnerable to a slowdown, like a hotel chain. propublica.org/article/senato…
2/ This report follows a @npr scoop by @timkmak that Burr warned donors who paid between $500 and $10,000 that coronavirus is "more aggressive in its transmission than anything that we have seen in recent history" while he publicly downplayed the threat. npr.org/2020/03/19/818…
Read 14 tweets
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Megan Pratz
@meganpratz
The STOCK Act passed in 2012 with strong bipartisan support after 60 Minutes uncovered that lawmakers were using official information to profit in the markets. It was amended a year later to weaken those restrictions.

Burr voted AGAINST the STOCK Act. The final vote was 96-3.
You can read the transcript of that 60 Minutes investigation here.
cbsnews.com/news/congress-…
The STOCK Act prohibits members of Congress from trading on information they acquire through their official duties as lawmakers, something that had previously been legal and accepted.

Even though the bill was weakened, insider trading is still illegal.
npr.org/sections/itsal…
Read 10 tweets
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John Stoehr's Editorial Board
@johnastoehr
1. The president used an expression during a press briefing yesterday that sums up everything you need to know, I think, about his mindset amid a global pandemic.

“The war against the Chinese virus,” Donald Trump said.
2. He was referring to the novel coronavirus (COVID-19), which originated in China, but since December has spread around the world, bringing the international economy to a halt, panicking equity markets, and altering daily routines here and elsewhere.
3. The president said he was invoking the Defense Production Act, a Cold War-era law, to address directly the shortage of medical equipment, such as coronavirus testing.
Read 25 tweets
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Propane Jane™
@docrocktex26
Me too, he desperately wants/needs narcissistic supply from feigned altruism b/c everybody already knows he’s a sociopath with a huge body count. Vetoing a comprehensive #COVID19 bill (*if Grim Reaper Mitch even lets it get passed in the Senate) would only enrage America further.
Plus there’s this. A narcissist/sociopath doesn’t mind how crass this sounds, and Trump knows full well that his most fervent supporters STILL don’t blame him for his incompetence or malfeasance. In Fox/MAGAt world the crisis didn’t actually start until DT “took charge” on 3/13.
The worst thing Trump/the @GOP have going for their “none of the shitty pandemic response is Trump’s fault and he, alone, can still fix it” narrative™️ is the public will now have plenty of free time in quarantine to watch them keep creating more disasters that fail humanity.
Read 72 tweets
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Margin of Safety Investor
@ReturnOnMargin
1/ BARUCH: My Own Story.

A very interesting autobiography I read recently, suggested by @AdvInCap

A thread with interesting anecdotes and timeless advice follows.
2/ Baruch’s forefathers were of German ancestry. His grandfather spoke only German.

His family embodied the American spirit and his father would always say that, “It is not important where you came from as where you are going.”
3/ The first chapters give a taste of the civil war era through stories of Baruch’s father who was a military surgeon fighting for the South. His was also a KKK member.

He called the Civil War a “gentleman’s war” based on his experiences (he was captured and treated fairly).
Read 41 tweets

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