Nonsense numerology.
This is birthday 73 for me.
According to the internet, and Sheldon Cooper, 73 is the best number.
73 is the 21st prime number.
Its mirror, 37, is the 12th.
The mirror of 12 is 21.
21 is the product of multiplying 7 and 3
In binary 73 is a palindrome, 1001001.
My family’s poet laureate, Harris Gardner, presented the following at the 50th birthday party held in honor of my nephew, Jason Scolnick.
Sword of a Troubadour
To Jason Scolnick on his 50th Birthday
From your realm of Self,
Your mystical music beguiles
Murmured harmonies of the spheres.
May your desires and dreams
Exceed those of Don Quixote;
May your songs soar to the frontier
Of the firmament and stun
A chorus of angels into mute wonder.
May your lyrics purify the ocean
To sustain the life that flows below.
Ranks of waves will render thanks.
May your strain be your weapon’s
Honed edge to lead the advance
Against any qualms that may
Rein in resolve, Raise your guidon!
Lift your music’s sabre;
Let its vibrant voice be heard.
As you set sail to further explore
Your mind’s hope-filled horizon,
Know that inspired labor will prevail.
Harris Gardner
Try to say out loud the color of each word without reading the word.
Did you stop trying before you got to the last word?
Is it foolish to think that anyone, especially Congress using a political process, can wisely determine where and how much economic aid should be provided to businesses or individuals?
The intended and unintended consequences may be worse than if Congress does nothing.
Reading just headlines some have pointed out that there is an HBR article that says stock buybacks are dangerous for the economy/
https://hbr.org/2020/01/why-stock-buybacks-are-dangerous-for-the-economy
But it is the swapping of equity for debt that is the warning from the HBR article. We have this moral hazard for corporation management because the Federal Reserve is manipulating interest rates. The cost of equity capital for a company is approximately the reciprocal of the P/E ratio. So for a stock with a P/E of 15, the cost of equity capital is 1/15 = 6.6%. With debt capital only costing 3% or less, management is enticed to take on the risk. The problem is that taking on debt requires them to make regular interest payments, while equity capital can suspend dividends whenever they want. Taking on debt to buy back stock is bad. Distributing cash also reduces the a company’s chances to weather a downturn so management needs to consider that before a buyback. But investing the money into growth activities for the company that don’t work out also reduce the safety of the company.
Saw this on Facebook
Bill Evers complied a list of 43 books for the Independent Institute.
