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| | Tavakoli Structured
Finance LLC
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| | “Allow me to issue and control a nation’s money, and I care not who makes the laws.”
—Mayer Amschel Rothschild |
| | Did Intel’s CFO Sabotage Intel’s CEO?
Surely Intel CEO Pat Gelsinger was briefed by his CFO prior
to his presentation and his later appearance on CNBC yesterday. Yet it seems
Gelsinger is not in control of Intel’s public message. On CNBC he said:
<<But obviously, hey, the market has worked through a lot of inventory
issues. Those we believe are largely behind us on the client side. >>
It seems to me as if the CFO not only withheld inventory
information but sabotaged Gelsinger by contradicting him after Gelsinger had
given the public a different picture. Who authorized the CFO to issue a
statement? Heads have rolled for less.
My impression of possible sabotage may be incorrect. This
could merely be a communication disaster. Either way, it gives a poor
impression of Intel’s management. |
| | Fifty Years in Wall Street
I’ve been restoring Henry Clews’s Fifty Years in Wall
Street (1908). I have the original book, but the pages have yellowed, and
the hinge is cracked. One can download a pdf of the original for free—public
domain—from archive.org. Among the gems in this book is an address he gave to
Yale students in 1907. If I ever have to give such a speech to students, I’ll
adapt his speech of advice to young men starting out in life.
Clews’s story of Commodore Vanderbilt’s short squeeze was
fictionalized in “Face the Music,” the third episode of HBO’s The Gilded Age.
For my own purposes, I split the book into two parts: Part
One and Part Two. I
added a table of date of birth, date of death, and age at death of the men illustrated
in the original book. I added the dates of birth and death to each photo.
Otherwise, I couldn’t keep all the
generations of Roosevelts, Vanderbilts, Clewses, Astors, and Rothschilds
straight. |
| | American Culture Is Eurocentric
Multiculturalism is a lie or rather a series of lies: the
lie that European-American culture is uniquely oppressive; the lie that culture
has been formed to preserve the dominance of heterosexual white males; and the
lie that other cultures are equal to the culture of the West. What needs to be
said is that no other cultures are equal to the culture of the West. What needs
to be said is that no other culture in the history of the world has offered the
individual as much freedom, as much opportunity to advance; no other culture
has permitted homosexuals, non-whites, and women to play ever-increasing roles
in the economy, in politics, in scholarship, in government. What needs to be
said is that American culture is Eurocentric, and it must remain Eurocentric or
collapse into nothingness. Standards of European and American origin are the
only possible standards that can hold our society together and keep a competent
nation. If the legitimacy of Eurocentric standards is denied, there is nothing
else. There are no standards from any other quarter of the globe that we can
agree upon. Islam cannot provide standards for us, nor can Africa or the Far
East. Yet a single set of standards is essential to a sense of what authority
is legitimate, what ideal must be maintained. The alternative to Eurocentrism,
then, is fragmentation and chaos.
—Robert Bork (Slouching Towards Gomorrah, 1996, P.
311) |
| |
3rd Edition
Released February 23, 2022
"Tavakoli's research work has been endorsed by, for example, the late Nobel prize winner, Merton Miller, and the "Big Short" hedge fund manager, Michael Burry."
Intelligent Commodity Investing
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| | Via Reddit: Reconstructing Burry's Research Process
Michael Burry, Interview by the Financial Crisis Inquiry Commission,May 18, 2010/
From FCIC staff audiotape of interview with
Michael Burry, Cornwall Capital[between timestamps 1:36:20 and 1:38:40]:
"
... It was a dark market. I was onto WorldCom pretty early and they went from
investment grade to bankrupt overnight ... I wondered why I didn't make more
money on this ... it hit me that's the way to short companies ... and I noted
there was a lot of these highly rated super leveraged companies where you could
buy credit default swaps ... and so I bought books ... Janet Tavakoli's 1998
book, and that was the first book I read ... I didn't take all those equations
and apply them ... but I got the basics of the market from that." |
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