His point was that to bemoan the loss of old large-scale manufacturing jobs was not productive compared to forward-looking models such as the "workbench" production and crowd-sourcing/out-sourcing described in the Wired article.
What I find radically appealing is not so much the technical aspects of desktop/workbench production of parts which were once out of financial reach of small entrepreneurs--though that revolution is the enabling technology--it is the possibility that entrepreneurs can own the means of production without resorting to vulture/bank investors/loans.
Anyone who has been involved in a tech startup knows the drill--in years past, a tech startup required millions of dollars to develop a new product or the IP (intellectual property). To raise the capital required, the entrepreneurs had to sell their souls (and company) to venture capital (vulture capital) "investors" who simply took ORPM (other rich people’s money) and put it to work, taking much of the value of new promising companies in trade for their scarce and costly capital.
The only alternative were banks, who generally shunned "speculative investments" (unless they were in the billions and related to derivatives, heh).
So entrepreneurs came up with the ideas and did all the hard work, and then vulture capital swooped in to rake off the profits, all the while crying bitter tears about the great risks they were taking with other rich people’s spare cash.
Now that these production tools are within reach of small entrepreneurs, the vulture capital machine will find less entrepreneural fodder to exploit. The entrepreneurs themselves can own/rent the means of production.
That is a fine old Marxist phrase for the tools and plant which create value and wealth. Own that and you create your own wealth.
In the post-industrial economies of the West and Asia, distribution channels acted as means of wealth creation as well: you want to make money selling books or music, for instance, well, you…
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 firstname.lastname@example.org 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.
Yesterday we showed how 'isolated' Russia was (if you chose to look only at isolating parts of the world). Today, we glimpse at the world's views on China vs US... As The Global Post notes, we know that only 35 percent of Americans have a favorable view of China. But what about the rest of the world?
For would-be stock market traders, the idea of making a living in in the stock market is intriguing. Imagine: rolling out of bed, grabbing your slippers, a cup of coffee, turning on your laptop, glancing at a couple charts, clicking on "buy," and raking in the money. Or don't even get out of bed!
What is often not completely understood, however, is that trading is not easy. The simple advice of "buy low, sell high" is difficult to follow. Further, moving into the world of options adds another level of complexity and is quite daunting.
So, if I just described you, and you want to enhance your understanding of options, take the time to learn the facts presented in Understanding Options, a new ebook by John F. Carter. John is the founder of SimplerOptions.com and author of the book &qu...
The S&P 500 opened fractionally higher and hit its 0.14% intraday high moments later. The 10 AM August Manufacturing Report came in stronger than expected, but an hour later, the index started a selloff that would send it to its -0.43% intraday low in the early afternoon. A modest rally trimmed the loss to -0.05% at the close.
The S&P 500 went nowhere today, but Treasuries stirred a bit. The yield on the 10-year Note closed at 2.42%, up 7 bps from Friday's close.
Here is a 15-minute chart of the past five sessions.
Today's trading volume picked up after the pre-Labor Day doldrums but remains below its 50-day moving average.
For a longer-term perspective, here is a pair of charts based on daily closes starting with the all-time high prior to the Great Recessio...
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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.
Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.
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Buffalo Wild Wings Inc. (Ticker: BWLD) shares are in positive territory in early-afternoon trading on Thursday, reversing earlier losses to stand up 0.50% on the session at $148.50 as of 12:15 pm ET. Options volume on the restaurant chain is running approximately three times the daily average level due to heavy put activity in the October expiry contracts. It looks like one or more traders are buying the Oct 140/145 put spread at a net premium of roughly $1.45 per contract. As of the time of this writing, the spread has traded approximately 3,000 times against very little open interest at either striking price. The put spread may be a hedge to protect a long stock position against a roughly 6% pullback in the price of the underlying through October expiration, or an outright bearish play anticipating a dip in BWLD shares in the next couple of months. The spread makes money at expiration if shares in BWLD decline 3.3% from the current price of $148.50 to breach the breakeven point...
Gradient Senior Analyst Nicholas Yee reports on six companies that are using a variety of techniques to shift pretax profits to lower-tax areas. Featured in this USA Today, article, the companies include CELG, ALTR, VMW, NVDA, LRCX, and SNPS.
Mt Gox may be long gone in the annals of bankruptcy, but its founder refuses to go gentle into that insolvent night. And, as CoinDesk reports, the disgraced former CEO of the one-time premier bitcoin trading platform has decided to give it a second try by launching new web hosting service called Forever.net and is registered under both Karpeles’ name and that of Tibanne, the parent company of Mt Gox.
Author Helen Davis Chaitman is a nationally recognized litigator with a diverse trial practice in the areas of lender liability, bankruptcy, bank fraud, RICO, professional malpractice, trusts and estates, and white collar defense. In 1995, Ms. Chaitman was named one of the nation's top ten litigators by the National Law Journal for a jury verdict she obtained in an accountants' malpractice case. Ms. Chaitman is the author of The Law of Lender Liability (Warren, Gorham & Lamont 1990)... Since early 2009, Ms. Chaitman has been an outspoken advocate for investors in Bernard L. Madoff Investment Securities LLC (more here).
Reminder: Pharmboy is available to chat with Members, comments are found below each post.
Well PSW Subscribers....I am still here, barely. From my last post a few months ago to now, nothing has changed much, but there are a few bargins out there that as investors, should be put on the watch list (again) and if so desired....buy a small amount.
First, the media is on a tear against biotechs/pharma, ripping companies for their drug prices. Gilead's HepC drug, Sovaldi, is priced at $84K for the 12-week treatment. Pundits were screaming bloody murder that it was a total rip off, but when one investigates the other drugs out there, and the consequences of not taking Sovaldi vs. another drug combinations, then things become clearer. For instance, Olysio (JNJ) is about $66,000 for a 12-week treatment, but is approved for fewer types of patients AND...
I just wanted to be sure you saw this. There’s a ‘live’ training webinar this Thursday, March 27th at Noon or 9:00 pm ET.
If GOOGLE, the NSA, and Steve Jobs all got together in a room with the task of building a tremendously accurate trading algorithm… it wouldn’t just be any ordinary system… it’d be the greatest trading algorithm in the world.
Well, I hate to break it to you though… they never got around to building it, but my friends at Market Tamer did.
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warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.
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