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CNBC: 95% of "talk" seems to be about bitcoin and SPACs. From an observant twit over at twitter:
"Shame on CNBC and financial media for giving all of these SPAC garbage company CEOs so much time to promote their companies to naïve investors who never read SEC filings or provide any healthy skepticism."
I was appalled by Phil LeBeau's "neutral-at-best" reporting on the resignation of both the CEO and CFO over at Lordstown. GM still maintains its huge holding in RIDE, mentioned by Phil LeBeau who made no comment regarding same. Can you imagine if Elon Musk resigned from Tesla? But RIDE is doing just fine judging by the market. Phil LeBeau implied that "Lordstown was Steve Burns and Steve Burns was Lordstown" and Steve Burns just left (Lords)town. No reaction from Phil LeBeau; he simply read the headline.
An independent director, Ms Angela Strand, is now the interim CEO. Link here. Bio here. Her education: B.Sc. in communication (talking head) and an MBA in Marketing from the world-famous University of Tennessee.
Does anyone remember Murphy's Law? She's now running a start-up with no product and some would say no strategy with a market cap of $1.7 billion. She is a named inventor with seven issued patents (medical devices? I don't know).
Is this an opportunity for GM to ride in as the shining knight? I bet there's a lot of discussion.
Market: talk about the importance of diversification. LOL. It's not diversification. It's luck. On one of the worse days for the Dow in some time, my portfolio is having one of its best days ever. LOL. Being overweight in oil-related companies at this point in time probably has something to do with it, but having said that, most oil-related holdings are not doing all that well.
- It helps that AAPL is having a good day.
- Warren Buffett is having a downright awful day, BRK-B down $4.05, down 1.41 percent.
- UNP stemming its recent slide; flat to very slightly positive.
- ENB finally goes over $40.
- other pipelines flat to slightly negative