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Bruce Fenton @ brucefenton Profile picture
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16 Jul, 5 tweets, 1 min read
The official White House account posted a video of Fauci & Olivia Rodrigo, an 18 year old singer/ actress reading “fan” tweets.

One commenter says he hope Fauci is proud of him, another gave the vaccine as a “birthday present”.

The White House uses the hashtag #ManCrushMonday Image
Here’s the video link

This is the group who has been talking about “science”
*hopes
One “fan tweet” says: “When Olivia Rodrigo says to get the vaccine, you get the vaccine”.

Rodrigo has no scientific training and has never been to college.

Five months ago she was a minor.

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More from @brucefenton

Bruce Fenton @ brucefenton Profile picture
19 Jul
I was terrified in February 2020. I saw the viral videos of people dropping dead in the streets, the massive China quarantines, I tracked the cases: Italy, the cruise ship, the plane, the Seattle nursing home. We faced an unknown risk with massive potential downside. 👇👇👇
By March 17, 2020 it seemed possible this virus would ravage our world. I thought people who went out on St. Patrick’s Day were insane: risking their lives and others. We saw the dire warning of Italy.
We were always “2 weeks” away from disaster.

I sounded the alarm like a fool:
I listened to @nntaleb & @yaneerbaryam who said we just needed “two weeks to flatten the curve”.

If we could just shut down fro only two weeks, the reasoning went, the virus would die out.

If not, then we faced massive death in the streets & would see morgues in Central Park.
Read 20 tweets
Bruce Fenton @ brucefenton Profile picture
19 Jun
DTCC is in the news

DTCC is the centralized trusted 3rd party who runs the ledger for public US stocks.
The ledger is built on antique systems & is complex. It’s comprised of thousands of members who don’t trust each other. The 3rd party is a bottleneck & full of flaws.

👇👇👇
The system is complex with many parties who need to interact with the ledgers —

due to regulations like Dodd Frank & antiquated systems, it still takes *days* for securities to transfer between firms
The flaws are massive

You would not believe how bad - in many cases they don’t even know how many shares exist of certain stocks & it doesn’t match up with the number of shares the issuer has listed
Read 10 tweets
Bruce Fenton @ brucefenton Profile picture
17 Jun
#Bitcoin as global money will change securities - There’s no way securities ledgers will exist in their current old school form - securities will exist but transform

Securities include all stocks, bonds, PE, VC, startups, public companies, small businesses, most real estate...
The current system for how securities move around is antiquated — Due to the need for multiple competing partial ledgers from brokers & clearing firms, the system relies on trusted third parties such as DTCC in the US
This can be replaced by a distributed ledger & be improved
This is one of the cases where a blockchain/ distributed ledger makes sense: to solve a variation of the Byzantine Generals Dilemma— your broker doesn’t have the full ledger of all the stock an issuer has, neither does the issuer- DLT means the chain could tell us who owns what
Read 8 tweets
Bruce Fenton @ brucefenton Profile picture
23 May
As recently as the early 90s, investors had little idea what their portfolios were worth on a daily basis. Stock quotes were published in newspapers. Only professionals had real time stock quotes. To learn your account balance, you had to call your broker or wait for a statement.
Statements came out quarterly in most cases. Monthly statements were uncommon - and remember, this was all by physical mail.
Day trading was far more rare than today.
This created more long term thinking for many investors.
Wise investors had a plan and would stick to it.
Today we have a plethora of information we can access & act on instantly. Those who make money from this model encourage active trading, but it is antithetical to sound investing. Looking at your account daily & trading daily is more often a formula for ruin than wealth creation.
Read 7 tweets
Bruce Fenton @ brucefenton Profile picture
21 May
Definition of a security in the US based on the 1933 Act:

any note,
stock,
treasury stock,
security future,
security-based swap,
bond,
debenture,
evidence of indebtedness,
certificate of interest or participation in any profit-sharing agreement,
collateral-trust certificate,

1/
2/
preorganization certificate or subscription,
transferable share,
investment contract, (⬅️⬅️⬅️ that’s a big one)
voting-trust certificate,
certificate of deposit for a security,
fractional undivided interest in oil, gas, or other mineral rights,
any put,
call,straddle,
option,
3/
or privilege on any security,
certificate of deposit,
or group or index of securities (including any interest therein or based on the value thereof),
or any put,
call,
straddle,
option,
or privilege entered into on a national securities exchange relating to foreign currency,
Read 7 tweets
Bruce Fenton @ brucefenton Profile picture
4 Apr
Some don’t know:

Muslims believe in Jesus.
In Islam, Jesus Christ is considered a prophet who’s name is followed by “Peace be upon him”. Jesus is in more verses of the Koran than anyone other than the Prophet Mohammed. Muslims also believe Jesus was born of the Virgin Mary

1)
2) and that Jesus healed the sick. Many Muslims are named after Jesus and Mary.
Where Christianity and Islam differ most on this is that Christians believe Jesus was the son of God, died for our sins and was resurrected
many Muslims believe he was more of a spiritual son of God
3) and believe that his death was not for our sins. The Koran says that Jesus was crucified but not resurrected but people were led to believe this — what this means interpreted various ways- some Muslims believe Jesus did come back three days later but it
Read 7 tweets

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