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Barry Ritholtz Profile picture
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12 Mar, 4 tweets, 2 min read
If you had a spare $69 million laying around to spend on Art, would it be in this direction? Or would it be in a more physical, less digital format?

onlineonly.christies.com/s/beeple-first…
That $100k Banksy that was burnt/converted into a NFT sold for 4X its purchase price

news.bitcoin.com/burned-banksy-…
Here's a good explanation of why (and what) this sale was about:

slate.com/technology/202…
And another good explanatory as to what makes NFT so unique and powerful:

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More from @ritholtz

Barry Ritholtz Profile picture
10 Mar
Inflationary Risk Factors:

Mild inflation 2-3%
Transitory inflation (3-4%) lasting 2-6 quarters
Robust inflation 4-6%
Deflation (real) -1%
Dis-inflation 0-1%
Stagflation +6-8% + rapidly rising unemployment
Hyperinflation +10-20%

Those are my definitions of various 'Flations

1/
Inflation is in the news again, but not for the reasons you might believe.

It has little to do with nominal real inflation, less to do with actual real inflation, and nothing to with rates.

I suspect it I partly a political stunt. More on this below.
2/
I have been criticizing how BLS, Fed + Wall Street measure inflation for a long time.

The predictions about it have been consistently bad, often terrible.

ritholtz.com/inflation/

3/
Read 17 tweets
Barry Ritholtz Profile picture
3 Mar
"If you were prescient enough to buy a 1954 300SL new for $7k MSRP + locked it away, it would fetch ~$1.4 million today. Annualized return of 8% before inflation, storage + maintenance.

Most funds performed better + required zero oil filters."

bloomberg.com/news/articles/…
To say nothing of the inherent Survivorship Bias in looking at the cars that did appreciate: Selecting investments after the fact is easy; ask yourself this question: What car do you want to buy as an investment for the next 60 years to be sold in 2081?

ritholtz.com/2018/08/surviv…
This is why I have always been a big believer in buying what you like, and driving it (like you stole it).

ritholtz.com/2020/11/my-gar…
Read 7 tweets
Barry Ritholtz Profile picture
4 Feb
$573 Million to settle claims their advice to Purdue Pharma (+ others) led to the aggressive flooding of markets with opioids. It turned out to be damaging, even deadly advice.

Yet another reminder of who consulting giant McKinsey is…

wsj.com/articles/mckin…
1/
Note: A decade ago, I discussed my thesis the consultant always seems to be giving ethically compromised advice that leads to terrible societal outcomes.

Why is that? Is McKinsey & Co. the Root of All Evil ?

ritholtz.com/2011/03/is-mck…
2/
You can even trace the history of wealth inequality in part back to them.

Consider the rise of CEO-to-worker gap. That goes back to a 1951 McKinsey study of CEO compensation and stock options.

ritholtz.com/2013/08/is-mck…
3/
Read 7 tweets
Barry Ritholtz Profile picture
2 Feb
Good explainer as to why Robinhood, an underfunded broker, had to halt $GME trading -- they didn't have the capital to cover the trades

wsj.com/articles/why-b…
1/
Last week, we discussed why your trading platform and B/D looks like a form of Counter Party Risk:

ritholtz.com/2021/01/counte…
2/
And if you want a long form discussion of the history of $GME saga, this one is excellent via @davidjlynch

washingtonpost.com/business/2021/…
3/
Read 5 tweets
Barry Ritholtz Profile picture
30 Jan
US Covid Deaths = 436,839 deaths out of 2,209,277 Global Deaths

USA, once 25% of Covid deaths with only 4% of world's population, has fallen to 19.8% of Covid-mortality.

We suck, just less a little less than we did when the pandemic began . . .

coronavirus.jhu.edu/map.html
And please, see if you can avoid making excuses for negligent mass homicide we witnessed in the USA
Here is the USA versus countries that managed their response well and versus others that did poorly: Cumulative confirmed COVID-19 deaths per million people

ourworldindata.org/coronavirus-da…
Read 5 tweets
Barry Ritholtz Profile picture
28 Jan
“Free" offered by for-profit companies must be approached warily for obvious reasons. Free is not without costs. Free has hidden charges, expenses. Free requires you to read the fine print, where buried on page 37, you learn free is very expensive. (2018)

ritholtz.com/2018/10/cheap-…
"In financial services, free is bullshit."
Do you doubt this truism, obvious but overlooked by so many in their rush to pay less? Do you for an instant believe that large for-profit companies price their services at “free” because they are kind-hearted and generous and only have your best interests at heart?
Read 4 tweets

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