Betsy DeVos: First, the answer to the question posed earlier today: New Orleans school test scores. When I look at the picture, seriously look at the photograph that accompanies that story, my heart goes out to each and every one of them. They have been through hell and back, and I hope they all succeed beyond all expectations, no matter what they do in life. Our older daughter graduated from a public school in lower Alabama, not all that far different culturally from New Orleans. I think it was a lot more difficult for her than she let on. It is one of the few chapters in her life that she does not want to discuss with me.
Paid protesters: I've had some fun with postings about how DAPL protesters were paid for their activity on Standing Rock Reservation. Sometime ago, a reader sent me the link to this article. For whatever reason I did not post it then, but now it seems entirely appropriate. From The Washington Times, a couple of weeks ago, the state of North Dakota is reminding "paid protesters" that they need to file North Dakota income taxes for 2016.
Tax Commissioner Ryan Rauschenberger said his office is keeping an eye out for tax forms from environmental groups that may have hired protesters to agitate against the 1,172-mile, four-state pipeline project.
“It’s something we’re looking at. I can tell you I’ve had a number of conversations with legislators regarding this very issue,” said Mr. Rauschenberger. “[We’re] looking at the entities that have potential paid contractors here on their behalf doing work.”
It’s no secret that millions have been funneled into the six-month-old demonstration via crowdfunding websites, and that more than 30 environmental organizations, including the Sierra Club, Indigenous Environmental Network, Food and Water Watch, 350.org and Greenpeace, have backed the protest.
If national environmental organizations are paying protest personnel, they’re not saying so publicly. Still, Mr. Rauschenberger said red flags will be raised if he doesn’t start seeing W2 or 1099 tax forms from those affiliated with the protest arriving at his office.Tesla, Model S: There must be a gazillion automobiles and light trucks on the roads in north Texas -- Dallas, Ft Worth, Plano, Grapevine, but apparently just one Tesla. Or at least it was just serendipity that I ended up behind the same Tesla at a "red light" in Grapevine near Tutor Time on Pool Road where Sophia goes to school that I saw on Texas Highway 114-west on the north side of South Lake about six months ago. Same Texas license plate: T CLEAN. Now, that I think of it, I wonder if that particular Tesla might not be a dealer's model? The license plate had the "feeling" of being a dealer's plate.
I would have posted that observation regardless, but it is timely: "tension is high as Tesla gets ready to move into production of Model 3." That was in The Los Angeles Times yesterday. Today, Bloomberg is reporting that Musk Melon has picked a fight with a union organizer. [Update, February 13, 2017: CNBC -- UAW says it will greet Tesla workers with 'open arms.']
By the way, for those wondering, the Tesla did not impress Sophia. She was looking at the huge black, intimidating F-350 that pulled up alongside the Tesla. From the rear, the Tesla looked like a sporty Honda crossed with a Porsche. A dime a dozen in Southlake.
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Investing 101
Disclaimer: see below.
Anyone who has not noted the Trump rally (stock market) is a nominee for the 2017 Geico Rock Award. For those who may have missed it:
I have a number of managed portfolios/investment accounts: a pension, trad IRA, ROTH IRA, a non-IRA mutual fund, whole life insurance policy, maybe nine or ten different accounts in all. I assume any financial advisor worth her salt would recommend that I start to consolidate; some of these are incredibly small accounts. So many accounts are hard to keep track of. But I've noticed something interesting. Some of the managed portfolios/investment accounts have done very, very well; others have not participated in the Trump rally at all.
That suggests to me that my portfolio of portfolios is well diversified. If they were all doing equally bad, or equally good, it would suggest the managers were all doing the same thing. But as noted, some are doing fairly poorly; some are doing fairly well. I can't say for sure if any are really participating in the Trump rally to the extent one would expect.
So, why would I post that? To ask a question or posit an observation. If the market continues to melt up (as expected with the "Trump tax cuts yet to be announced") those funds that have not yet participated will eventually be "forced" to jump in, thus driving the market higher.
On the other hand, if the laggards are correct, holding back, expecting a correction (as expected once the GOP fails to deliver), then the laggards will a) look pretty good; and, b) use their "dry powder" to "dive in."
I don't know. It will be fun to watch.
Disclaimer: this is not an investment site. Do not make any investment, financial, travel, job, or relationship decisions based on anything you read here or think you may have read here.
Having said that, those interested in individual stock-picking, it seems like the current investment environment is an open-book test.
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Melissa, Venezuela Needs A Hero
From Forbes:
As if Venezuela doesn't have enough problems, its National Assembly is now picking a fight with Russia's most powerful oil man. Igor Sechin, known as Darth Vader in Russia, is the CEO of Rosneft and his company is now being roadblocked by legislators who question the legality of a 40% joint venture deal with a PdVSA subsidiary called Petromonagas. Sechin says the deal is legal. Venezuela, which can use all the money it can get, thinks otherwise.
On Thursday, the National Assembly took up issue over the proposed sale, telling the Russian embassy on Friday that it was annulling the $500 million deal with Rosneft. Petromnagas, formerly known as Cerro Negro, is one of four strategic oil projects undertaken by Venezuela in the Orinoco heavy oil basin. It produces around 170 thousand barrels per day and 40% of that, or 60 thousand barrels, belong to Rosneft.
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That Which Does Not Kill You Makes You Stronger
-- Friedrich Nietzsche
Chuck Schumer, et al, might do well to read a bit of Nietzsche after this week of slow-rolling President Trump at every level. I will expand on this later if the spirit moves me.
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