Dow jones plunges 512 points in one day; nasdaq down 136; s&p down 60

From what I've heard, no economist thinks that all the lost jobs will come back. I heard somewhere that they think that as many as in 1 in 4 are gone permanently. That would be ~5 million jobs.

 

It is ALL Franz Beckenbauer's fault.

 

That too. The lost 1974 Final that is.

 

Bankruptcy judge will let Hertz offer stock.

How have the people that will buy stock not already been separated from their money?

 

So the question, buy on the way up? or too risky to believe the suckers will bid it up?

 

Buy one of these and park it in your neighbor's driveway down the street.

 

nfw

 

From a Bloomberg article about Hertz and other bankrupt companies whose common stock is active on the Robinhood app. lol I think this is going to hertz a lot.

“Is it … possible,” I wrote, “that many of the thousands of brand-new investors on Robinhood have not carefully analyzed the capital structures to find the fulcrum securities?”

https://www.bloomberg.com/opinion/articles/2020-06-12/if-you-want-hertz-have-some-hertz

 

But they are the ones that are going to be taken for a ride.

But then, that's what a roller coaster is, right?

Oh I ruined the metaphor. Sorry.

 

Sold it and bought JA Henckels

 

Market will open today down about 2%.

Those Robinhood kids would be better off just buying one of the many cars Hertz is liquidating than trying to cash in on idiot caused volatility in the share price.

 

or if they want to invest in Hertz, buy the debt
the prospectus sounds pretty brutal, maybe that will slow things down

 

Yay!!!!

How much has been pumped to prop up Wallstreet. The whole thing is a ruse

 

Could y'all either post a link to an article, or actually explain what happened?

Thanks preesh bye

 

https://apple.news/AYJH4vUu0TyaUpBIZ7JdzKQ

Fed will start buying corporate debt. They will be buying debts of individual corporations rather than the relatively passive ETF approach to bonds they took earlier. It is a more active approach which is debatable about whether the Fed should be this involved in buying bonds directly from specific companies.. Of course, they were involved specifically with companies “too big to fail” during 2008 crash. Somewhere, sometime, somehow, the Fed rug is going to get pulled out from the overall market in a way that there will be a big reckoning.

 

I’m waiting to see what this market does to Enterprise Holdings...privately held by the Taylor family...who is the family behind STL’s MLS expansion club.

 

Rental companies were in trouble before Covid-19. The resulting decrease in travel must hit them hard. Some people might be more likely rent a car in order to avoid public transit or ride share, but not enough to make up for the travel loss.

Edit: a link to Robinhood's 100 most "popular" companies: https://robinhood.com/collections/100-most-popular

Yikes! Sure some good stocks but lol at the top of the list.

With distressed companies, trade the debt, not the equity.

 

It only has to last until November.

 

When did the Stock market get decoupled from the job market?

 

I haz kwestions

Like, how do we know that the Trump administration won't base purchases on whether or not a corporation pleases Trump orally. Like, is the Fed going to buy $10T of MyPillow corporate debt? Are they going to do whatever the opposite of that is with ComCast and Amazon? Is there an objective standard as to what gets bought and what doesn't? Who decides?

I'm just a simple caveman lawyer, but this seems like it will end up as counts 976 through 1433 of The People vs. Donald J. Trump.

You know what else? I'm so old I remember when Republicans believed in the free market! Kids, ask your parents.

That's the end of the rant. Now I'm going to my happy place, which is called Yeahsurewhynotland.