Jay, I think we might be all square. A reduced margin risk on QCOM in exchange for a continued DNA combo melange of <French Creole Hakka Chinese Trinidadians> [I'm sure that simplistic description cannot adequately describe the evolutionary spiral of DNA which records your antecedents' environmental survival and reproductive success] combined with your obviously sensible spouse's similar twisted history.
Just a suggestion Jay, but I suspect her suggestion of saving you money by cutting the lineage had more to do with feminine good judgement than the no-doubt highly intellectual business school education. Nature, as usual, found the happy balance! Nature has had a lot of practise.
A good friend from my BP days in London and Belgium told me how his mother had advised his [then] young wife to keep a tight rein on him or he'd happily sleep under a sack under a hedge. As many men around the world have observed with their amazing intellects, women have a different approach to life from men. Women seem not to appreciate the finer points of engines and oil, sacks as bedding, financial shenanigans, gang warfare, DOS, hacking and Cuban cigars.
I have brought my professional expertise to bear on the matter and conclude that the reason is that women control the lineage and the men bring home the bacon.
No bacon = no lineage [and all that is implied by that].
Mqurice@Marriageconsultancy.com
Okay, off to the drawing room....
Thanks for the detail on GX. The parallel with Globalstar is fascinating. This time a year ago when I looked at Globalstar senior notes, the broker told me I'd have to cough up interest payments to the previous owner. I thought the price onerous so waited. Not many months later, the interest payments were no longer due and the senior note price was 4c on the dollar, which hit my buy resonant frequency.
I will watch GX for another couple of months to see what happens.
Now, the great imponderable. The risk-free nature of shares or fiat currencies or maybe even Aztec totem.
It seems very likely that Japan and the USA could both do a stock split [called a devaluation]. Or, currency printing race. If each dollar and yen is turned into two, that would be a bit like a company doing a stock split by doubling the number of shares. Of course, if those two monsters do that, it would make minnows like Hobbitland do the same to maintain some semblance of normalcy.
The Euro is hatching shortly so there could be some fun there early in 2002, which is such a fun name for a year - I am waiting for 22-02-2002. What a great date. Or maybe 20-02-2002. Yeah, how about that? The ultimate palindrome date. Omigod, I'm going to have to celebrate that one somehow. Americans, who put the month first, will be puzzled and will miss the fun. They will have 2-22-2002 which isn't as good.
Anyway, back to the money... Suppose Uncle Al organizes a currency printing race - a kind of America's Cup race for money. The risk-free concept of holding cash could quickly turn ugly. The risk premium for real assets, real production and real value represented by CDMA, Toyota, Samsung, houses, dairy farms, trees and oil wells could turn out not to look very risky compared with fiat currencies based on an abstract collective state philosophy of compulsion and repression.
It's traditional in big panics to commandeer essential supplies to maintain the state and stability. The impecunious are not in a position to offer anything so it falls to the savers, the thrifty, the rainy-day people, to provide the goods. Governments very soon turn their greedy gaze onto those with the assets. The easiest asset to get hold of is cash, because it can be diluted by printing more. There is not any need to go knocking on a door or demanding a pocket to be emptied [which can make people grumpy].
That's much easier than getting people to turn in some of their share certificates to the village collector of taxes.
I don't think this is priced into securities. I don't believe more than a few people have thought more than a tiny amount about it. I think people will be shocked.
History did not end with the end of the 20th century! Here we go...wheeeeee........
Mqurice
PS: I recommend buying your XX business school attendee some colourful reproductive organs from various flora. They like that even better than a gold card. Weird eh?!! |
