Posts Tagged ‘responsibility’

The Art of Spinning: How to Identify Possible White Collar Criminals or at Least Unethical and Deceitful People Who You Should Avoid

Sam wrote this timeless piece a few years ago but searched it out specially for us. For non-criminal types, this article is pretty depressing, but if you feel entangled in one of these criminal-non-criminal, or unethical-ethical person, relationships, it behooves you to know how the game is played. If you are an aspiring white collar criminal, this essay can be used as a how-to manual. – Ilene 

The Art of Spinning: How to Identify Possible White Collar Criminals or at Least Unethical and Deceitful People Who You Should Avoid

sam antar Courtesy of Sam Antar 

White collar crime is a crime of persuasion and deceit. Since the white collar criminal uses persuasion and deceit to commit their crimes, it follows that such felons are artful liars.

People often ask me what characteristics I look for in other people that alert me to possible criminal activity or at least unethical and deceitful people.

Not all questionable conduct is illegal. A person can be unethical or deceitful (however they are defined) without committing any illegal acts as defined under the law.

However, most criminals use tools like spinning (see below) in the conduct of their crimes.

The Art of Spinning:

  • Sell people hope. My cousin ‘Crazy Eddie’ Antar taught me that “people live on hope” and their hopes and dreams must be fed through our spin and lies. In any situation, if possible, accentuate the positive.
  • Make excuses as long as you can. Try to have your excuses based on at least one truthful fact even if the fact is unrelated to your actions and argument.
  • When you cannot dispute the underlying facts, accept them as true but rationalize your actions. You are allowed to make mistakes as long as you have no wrongful intent. Being stupid is not a crime.
  • Always say in words you “take responsibility” but try to indirectly shift the blame on other people and factors. You need to portray yourself as a “stand up” guy or gal.
  • When you cannot defend your actions or arguments attack the messenger to detract attention from your questionable actions.
  • Always show your kindness by doing people favors. You will require the gratitude of such people to come to your aid and defend you.
  • Build up your stature, integrity, and credibility by publicizing the good deeds you have done in areas unrelated to the subject of scrutiny.
  • Build a


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Drunk Driving at BP

Drunk Driving at BP

Dangers of Driving When Drunk

Courtesy of DEAN BAKER, at CEPR

While BP has taken some heat over its spill in the Gulf, it is remarkable how limited the anger actually is. Many defenders of the company have made the obvious point: It was an accident. BP did not intend to have a massive spill that killed 11 people, devastated the Gulf ecosystem and threatens the livelihoods of hundreds of thousands of workers.

Of course this is true, but it is also true that a drunk driver who runs into a school bus did not intend to be involved in a fatal collision. As a society, we have no problem holding the drunk driver responsible for a predictable outcome of their recklessness. Driving while drunk dramatically increases the risk of an accident. This is why it is punished severely. A person who is responsible for a fatal accident while driving drunk can expect to face many years in jail. Even someone who drives drunk without being in an accident often faces jail time because of the risk they imposed on others.

This raises the question as to why the public seems to accept that the top officials at BP, who cut corners and made risky gambles in their drilling plans, should be able to “get my life back,” as BP CEO Tony Hayward put it. The people who lost their livelihood as a result of BP’s spill will not get their lives back, even if BP does pay compensation. Certainly the 11 workers killed in the original explosion will not get their lives back. Why should the people responsible for this carnage be able to resume their lives of luxury?

There are two separate questions. The first is a narrow legal issue concerning the extent to which Hayward and other high-level executives can be held criminally liable for the accident. It may be the case that the laws are written so that even if companies commit gross negligence that results in enormous harm, including multiple deaths, top officials are not criminally liable. This is a question about the status of current law.

The second question is a moral and economic one about what the laws should look like. From either standpoint, it is very difficult to see why we would want to say that reckless behavior that would be punished with long prison sentences if done by…
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The Requisite Poison Toy Scare

The Requisite Poison Toy Scare

zhu zhu petsCourtesy of Karl Denninger at The Market Ticker

Of course it’s the Zhu Zhu "pets"….

Antimony was measured at 93 parts per million in the hamster’s fur and at 106 parts per million in its nose. Both readings exceed the allowable level of 60 parts per million, said O’Rourke, an associate professor of environmental science at the University of California, Berkeley.

And this is the story…. why?

Let’s play this one straight up the middle, ok?

A pet is a living thing.  It breathes, it eats, it sleeps and it craps.  You take care of it – thus, the term "pet" – because in the environment you keep it (whether in a house, in a cage, in an aquarium, etc) if you don’t, it dies.

"Zhu Zhu" things are not pets.  They are mechanical.  They are collections of synthetic and mineral non-living things.  They run on batteries, not food.  They crap nothing.  And, unless you step on them or they break, they do not "die".

Caring for a pet is one of the things that children used to do.  It is one of the means by which parents taught children that not all that glitters is gold, not all that you play with comes without cost.  Indeed, pets come with a very real cost, not only monetarily to purchase them (in some cases) but in their upkeep and care, often including vet visits, vaccinations and the like.  Due to the fact that they are living organisms you must provide them with sustenance and remove or manage their waste.  These things become obligations when one takes on a pet.  Further, when irritated some pets can cause some degree of harm.  Hamsters, when provoked, do bite.

Who among us flushed "fishie" when he passed?  Buried a cat or dog – or hamster?  Took the dog for a walk (so it could relieve itself), cleaned a catbox, changed a fish tank filter (those are NASTY!) or cleaned the cage of a hamster, gerbil or parakeet?

What is wrong with us in this country?  How can we equate those lessons of growing up with buying a cheap plastic piece of trash from China?

Never mind that the company that developed the toy,
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Zero Hedge

Previewing The Day's Big Event: What To Expect From The Apple's Earnings Report

Courtesy of ZeroHedge. View original post here.

When Apple reports earnings after the close today, all eyes will be on its revenue, specifically how many fewer iPhones it sold in the quarter (consensus expects a drop of 22%), and more importantly profits for one reason: over the past several years Apple has been the single biggest contributor to S&P profitabillity. In 2015, Apple's profit rose 21% and it made more money than any other company in the S&P500 - at $53.7 billion in net income it accounted for 7% of the S&P's bottom line.

However, that ended promptly in the first quarter when APPL posted a substantial drop in both EPS and iPhone sales. It is about to get worse:...



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Phil's Favorites

Stocks Slide After Japan's "Helicopter Money" Plan Leaks, Underwhelms

Courtesy of ZeroHedge. View original post here.

At the same time that the Nikkei released its latest "market response" trial balloon, where it posted an article around 2am local time clearly meant for US market consumption according to which BOJ officials "were said to be leaning more toward easing", the same Nikkei also published a preview of what Japan's helicopter money may look like. There is just one problem: at first read, and judging by the market's reaction, it appears to...



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Chart School

Home Prices Rose 5.1% Year-over-Year, Increases Ease in May

Courtesy of Doug Short's Advisor Perspectives.

With today's release of the May S&P/Case-Shiller Home Price we learned that seasonally adjusted home prices for the benchmark 20-city index were down month over month at -0.1%. The seasonally adjusted year-over-year change has hovered between 4.4% and 5.4% for the last twelve months.

The adjacent column chart illustrates the month-over-month change in the seasonally adjusted 20-city index, which tends to be the most closely watched of the Case-Shiller series. It was down -0.1% from the previous month. The nonseasonally adjusted index was up 5.2% year-over-year.

Investing.com had forecast a -0.1% MoM seasonally adjusted decrease and 5.5% ...



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ValueWalk

David Einhorn Q2 2016 Letter: Hit On Amazon, Fracking Shorts

By Jacob Wolinsky. Originally published at ValueWalk.

David Einhorn’s letter for the second quarter ended June 30, 2016.

ValueWalk has obtained David Einhorn’s Q2 letter to investors. Below readers can find a full copy – below is a brief summary.

Also see

David Einhorn Q1: Long YELP [FULL Q1 2016 Letter] Greenlight Capital Q4 Letter To Investors: Long Macys Greenlight Capital 3Q15 Letter: Still Long Sune, MU

David Einhorn sold Macy’s, as well as “several material positions” during the...



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Kimble Charting Solutions

Junk Bonds at important inflection point, should impact stocks!

Courtesy of Chris Kimble.

Junk bonds have been quality at sending Risk On and Risk Off message to the broad stock market. Below looks at Junk Bond ETF JNK over the past decade.

JNK finds itself at an important price point below and what it does in the upcoming couple of weeks could become a big influence on the Risk On/Risk Off trade.

CLICK ON CHART TO ENLARGE

...

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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Fed seen holding rates steady as inflation watch continues (Reuters)

The U.S. Federal Reserve is expected to keep interest rates unchanged this week, deferring any possible increase until September or December, as policymakers hold out for more evidence of a pickup in inflation.

U.S. stock futures waver ahead of Fed, key earnings (Market Watch)

U.S. stock futures struggled for direction on Tuesday, with investors opting for the sidelines ahead of the closely watched Federal Reserve meeting and a deluge of ear...



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OpTrader

Swing trading portfolio - week of July 25th, 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. 

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.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Digital Currencies

Demystifying the blockchain: a basic user guide

 

Demystifying the blockchain: a basic user guide

By Philippa Ryan, University of Technology Sydney

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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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:

http://arstechnica.com/science/2016/07/the-amount-of-energy-needed-to-run-the-worlds-economy-is-decreasing-on-average/#p3

...

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All About Trends

Mid-Day Update

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

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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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

By 

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

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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.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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