Posts Tagged ‘Epicurean Dealmaker’

# Jezebel Spirit

### Jezebel Spirit

Courtesy of The Epicurean Dealmaker

Ha ha ha ha ha ha …

Do you hear voices?

You do. So you are possessed.

You are a believer, born again and yet you hear voices and you are possessed.

Okay. Are you ready [unintelligible] ?
Ha ha ha ha ha ha.

— Unidentified exorcist, New York, 19801

Consider, Gentle Readers, a simple game:

It is an auction, with any number of participants, the object of which is to win a single, unadorned one hundred dollar bill. If you win the auction, you get to keep the money. (No tricks, I promise.) Bidding starts at a minimum of one dollar, and topping bids must exceed the prior bid by no less than one dollar, in even, undivided dollars. There is only one additional rule: the runner up in the auction must pay his or her last bid to the auctioneer, as well as the winner paying the winning bid. So, for example, if the winning bid is \$10, and the next highest bid is \$9, the winner will pay \$10 and collect the hundred dollar bill, and the runner up will pay \$9 and receive nothing.2

So, here we go. I am holding in my hands a crisp, new, freshly-issued one hundred dollar bill. Genuine U.S. currency, guaranteed legal tender for all debts, public and private. The opening bid is one dollar. Only one measly dollar to walk away with a crisp new hundo. Who will start the bidding?

* * *

I wonder how many of you raised your virtual hands. Contrariwise, I wonder how many of you recognized the trap for what it is: a slight variant of Martin Shubik’s rational choice theory experiment, the Dollar Auction.

It is an odd sort of game, but one which leads to all sorts of interesting outcomes and associated implications. For some of you may have realized that once you make a bid, you are committed to a losing escalation. Sure, at the beginning, the prospect of winning \$100 for a bid of \$1, or outbidding a competitor to win it for \$10, sets your rational utility-maximizing (i.e., greed) glands salivating. Eventually, however, you realize that

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### Zero Hedge

#### The Market For Lemons, The Market For Bullshit, And The Great Cascading Credence Crash Of 2016

Courtesy of ZeroHedge. View original post here.

Submitted by Daniel Cloud

The Market for Lemons, the Market for Bullshit, and the Great Cascading Credence Crash of 2016

“The cost of dishonesty, therefore, is not only the amount by which the purchaser is cheated; the cost must also include the loss incurred from driving legitimate business out of existence.”

George Akerlof, The Market for Lemons

People have begun to worry that we’re experiencing a crisis of confidence in our traditionally most prestigious i...

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### Market News

#### News You Can Use From Phil's Stock World

Financial Markets and Economy

The price of gas is on the rise again—up five percent globally in the last three months. But cost per gallon alone doesn’t give a complete picture of how big a bite gasoline takes out of an average driver’s paycheck. We ranked 61 countries by three economic measures to see who has the most affordable gas, and who feels the most pain at the pump.

Bank of America Corp. posted higher profit in each of...

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### Phil's Favorites

#### Europe: Positive Feedback Loop with Very Negative Implications

Courtesy of Mish.

Writers frequently say “negative feedback loop” when that is not what they really mean. A negative feedback look is actually a stabilizing mechanism.

Variant Perception provides a nice example in its report Negative Feedback Loop in Europe.

While most of the attention post-Brexit has been on the UK, we are far more concerned about Europe. Markets and the economy operate in a feedback loop, and the performance of European banks relative to the stock market points to a fall in lending ahead in Europe. Banking stocks provide a one year lead on lending growth in Europe. The dire trading of banks will do little to improve the debt-deflationary dynamic ...

more from Ilene

### Chart School

#### World Markets Weekend Update: The Global Rally Moderates

Courtesy of Doug Short's Advisor Perspectives.

The global rally in equities Moderated last week. The average gain of the eight indexes on our world watch list was a respectable 0.41%, down from the previous week's steroidal 3.87% average. Hong Kong's Hang Seng was the top performer with a 1.41% advance. At the other end, the chronic laggard Shanghai Composite fell 1.36%.

A Closer Look at the Last Four Weeks

The tables below provide a concise overview of performance comparisons over the past four weeks for these eight major indexes. We've also included the average for each week so that we can evaluate the performance of a specific index relative to the overall mean and better understand weekly volatility. The colors for each index name help us visualize the compara...

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### Insider Scoop

#### BTIG Believes Chipotle Will Fully Recover From Safety Issues Eventually

Courtesy of Benzinga.

Related CMG The Market In 5 Minutes: The Dow's Win Streak Comes To An End Restaurant ETF Can Endure Earnings Rough Patch ...

http://www.insidercow.com/ more from Insider

### ValueWalk

#### Relypsa Inc (RLYP) Soars On Galenica Bid

By Jacob Wolinsky. Originally published at ValueWalk.

Relypsa Inc (NDAQ:RLYP) — to be acquired by Galenica AG (VTX:GALN) for \$32 per share in cash is soaring this morning up about 58 percent at the time of this writing in early morning. On the other hand shares of Galenica are down on the announcement by about 8 percent. What are the details of the deal? Here is what the sell side analysts are saying about the pharma news.

Relypsa Inc (NDAQ:RLYP) bid – analysts react

Cantor Fitzgerald

Relypsa will be acquired by Galenica for \$32 per share, a 59% premium over the last closing price. We have thought that Relypsa would likely be acquired at some point, given the opportunity to grow Veltassa to be a significant commercial brand, ...

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### Kimble Charting Solutions

#### Doc Copper going to peak again at 200 Day moving ave?

Courtesy of Chris Kimble.

Doc Copper is often viewed as a leading indicator, for global growth or lack of.

The 200 day moving average is often viewed as the line in the sand to determine if an asset is in an up or down trend.

Is Doc Copper climbing above its 200 day moving average a good or bad sign?

Below looks at Doc Copper over the past decade with the 200 MA applied.

CLICK ON CHART TO ENLARGE

Copper peaked in 2011 and since, has continued to create a series of ...

more from Kimble C.S.

### Digital Currencies

#### Demystifying the blockchain: a basic user guide

Demystifying the blockchain: a basic user guide

Companies around the world are exploring blockchain, the technology underpinning digital currency bitcoin. In this Blockchain unleashed series, we investigate the many possible use cases for the blockchain, from the novel to the transformative.

Most people agree we do not need to know how a television works to enjoy using one. This is true of many existing and emerging technologies. Most of us happily drive cars, use mobile phones and send emails without knowing how they work. With this in mind, here is a tech-free user guide to the blockchain - the technology infrastructure behind bitcoin...

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#### Swing trading portfolio - week of July 18th, 2016

Reminder: OpTrader is available to chat with Members, comments are found below each post.

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options.

### Mapping The Market

#### No wonder Saudis are selling as much as they can!

Courtesy of Jean-Luc

We are getting much more energy efficient – no wonder Saudis are selling as much as they can! Who wants to be the one with trillions of dollars of oil in the ground unwanted:

...

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#### Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

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### Biotech

#### This Is Why Biotech Stocks May Explode Again

Reminder: Pharmboy and Ilene are available to chat with Members.

Here's an interesting article from Investor's Business Daily arguing that biotech stocks are beginning to recover from their recent declines, notwithstanding current weakness.

This Is Why Biotech Stocks May Explode Again

Excerpt:

After a three-year bull run that more than quadrupled its value by its peak last July, IBD’s Medical-Biomed/Biotech Industry Group plunged 50% by early February, hurt by backlashes against high drug prices and mergers that seek to lower corporate taxes.

...

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### Promotions

#### PSW is more than just stock talk!

We know you love coming here for our Stocks & Options education, strategy and trade ideas, and for Phil's daily commentary which you can't live without, but there's more!

PhilStockWorld.com features the most important and most interesting news items from around the web, all day, every day!

News: If you missed it, you can probably find it in our Market News section. We sift through piles of news so you don't have to.

If you are looking for non-mainstream, provocatively-narrated news and opinion pieces which promise to make you think -- we feature Zero Hedge, ...

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### Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

Thank you for you time!

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...