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Mission Accomplished Monday – Let the Space Tourism Begin!

Congratulations to Richard Branson!

Mr. Branson took 90 minutes out of his busy schedule yesterday to pop over to space for a quick float (enter to get your own trip here) and, while it's one small step for Sir Richard, it's one giant leap for the future of mankind as we are now a big step closer to the reality of space travel opening up to the masses.  Well, the very, very rich masses – but that too will change.

Russia was charging $20M to take people to the International Space Station and Jeff Bezos is about to launch his first rocket with his first passenger paying $28M for a 15-minute flight so Branson's $500,000 90-minute flight (but the same 3-5 minutes in actual space) is kind of a bargain and that's why Virgin Galactic Holdings (SPCE) is up 5% this morning – even though it's already trading at hundreds of times what it's likely to make over the next few years ($12Bn).

A view of Earth from outer space.SPCE has been losing $50M per quarter recently but that's not so bad in the grand scheme of things.  Carnival Cruise lines lost $10 BILLION last year and is losing $1.5Bn/qtr this year and the only way you get to space on one of those ships is when you overdo it at the bar.

This is a big moment in human history.  In 1914, the first commercial airline flight took off from St. Petersburg, Florida and flew all the way to Tampa, Florida – 21 miles away!  In 1913, a trip between the two cities, sitting on opposite sides of Tampa Bay, took two hours by steamship or from 4 to 12 hours by rail. Traveling by automobile around the bay took about 20 hours.  The flight would take about 20 minutes. 

first airlineThe airplane had a top speed of 64 mph (103 km/h). The hull was made of three layers of spruce with fabric between each layer. The wings were made of spruce spars with linen stretched over them. The plane was built to hold only a pilot and one passenger side-by-side on a single wooden seat.

The first flight went off on New Year's Day, 1914, with much pomp and circumstance. About 3,000 people paraded from downtown St. Petersburg to the waterfront to watch as the first ticket was auctioned off. Former St. Petersburg Mayor Pheil, then in the warehouse business, won with a bid of $400 (more than $40,000 in today’s dollars).

That flight actually didn't go so well and the plane had an engine problem and touched down in the bay but they fixed it (you could just hit them with a wrench back then) and were able to take off and continue the flight, which never went more than 50 feet over the water.  After that, the airline made two flights daily, six days a week. The regular fare was $5 per person (about $500 in today's dollars) and $5 per 100 pounds of freight. Tickets sold out for 16 weeks in advance. A second Benoist airboat was added, and flights were extended to Sarasota, Bradenton and Manatee. 

What we'll be doing in 100 years is hard to imagine.  What was impossible yesterday is an accomplishment today, while tomorrow heralds the unbelievable,” is what Mayor Fansler said at the time and that's just as true today with 13 MILLION people flying every day above our planet, almost 5Bn people each year, which is almost our entire population – lifted off the ground and sent to 30,000 feet.  So don't let people tell you we can't leave this planet – we do it all the time!  

This is incredible, exciting stuff but does it make SPCE a good investment?  Well, the company that flew people around Florida for $5 went broke in 4 months.  It wasn't until 1925, when Ford (F) bought out the Stout Aircraft Company and started making the all-metal Ford Trimotor planes, which took 6 passengers or cargo (not both) about 100 miles, that commercial aviation became a reality.  That was less than 100 years ago and that's about where SPCE is now.

Musk, Bezos and Branson fueled by big egos in space race –  En.BuradaBiliyorum.ComFord (F) wasn't even a public company until 1953, when they went public at $3.2Bn (now $57Bn and miles off the all-time highs of well over $100Bn).  Of course, Ford was like Boeing (BA) – they only made the planes.  Betting on an individual airline at the time was a one in a thousand chance that they wouldn't go bankrupt (not much different today as most of them have gone bankrupt at some point), so why will SPCE be any different?  

Well, they are better-funded than most airlines were but Branson is 70 now and who knows  what kind of promoter the next boss will be?  F went up a good 100x in 100 years and I'm sure if you picked a winning Airline (and cerainly BA), you woulld have done just as well – making an average of 100% per year for 100 years.  What could be better than that?  

NOT BEING MISLED IS BETTER THAN THAT!!!  Almost any business that grows and lasts 100 years will make you 100x.  Try this Compound Interest Calculator and put in $1 for 100 years at 5% growth (interest) and you'll see you end up with $131.50!   The problem is most people don't have the PATIENCE to invest like that and year one you have $1.05, year 2 is $1.10, year 3 is $1.155….  You sure don't feel like you're getting rich along the way but the math makes it inevitable – if you have the patience to let it work.

Compound Interest Table: A Powerful Investment Tool

But, if that's the case with ANY reasonable rate of return, why would you RISK your money betting on one unknowable stock or the other that MIGHT win in the future when there are so many sure things.  Pfizer (PFE) pays a 4% dividend and we have a rapidly aging population that needs more pills – what could be a simpler premise than that?   AT&T (T) pays a 7% dividend and, every time a new subscriber is born, they get an IPhone – very simple.   Apple (AAPL) only pays a 0.6% dividend (because their stock went up so fast they didn't increase it) and they still only sell phones and computers – lots of room to grow….

Don't Gamble with your Investments is Lesson #1 at PSW and that means don't chase after the sexy trends with the money that matters to you.  Sure, we can always have some fun with our excess profits – with the money we make that is over and above what we PLAN to make for our retirement – but don't gamble with the whole thing!  Treat risk with respect and keep all those eggs in different baskets – we never really know what the future holds.  

We are back to work this week and so is the Fed with 11 speeches on schedule (2 by Powell) and tomorrow we have scary CPI, PPI Weds with the Beige Book along with the NY and Philly Fed Reports on Thursday with Inducstrial Production and Consumer Sentiment on Friday:

But that's nothing as it's EARNINGS SEASON once again and look at all the big, huge companies we'll be hearing from this week and next.  Will the earnings be good enough to support these all-time market highs?  I can't wait to find out:  

Image

We still have plenty of bullish positions but we had a nice test of our hedges last week and they are working very well so we are confident but we also have a stop on our paired porfolios at $2M (now $2.15M) as this is already the gambling money we didn't mind risking after the last portfolio cycle took us from $600,000 to $2M and we cashed that out.  And that is the right way to do it when you get ahead – move most of the bonus money into something very safe and then gamble with what's left. 

We were very aggressive in this cycle, which began in October of 2019 with $600,000 and thank goodness we had put that $1.4M on the side as the market collapsed in March of 2020 and, rather than freaking out, we were able to jump on the opportunities with $1.4M (from the original $600,000) still safely in our banks.  That's how playing it safe can be exciting because, sometimes, the market doesn't go straight up!

 

 


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  1. Good Morning.




  2. LQMT – Did WallStreetBets pick up on LQMT? Up +50% this morning


  3. Good morning!  

    LQMT/Dave – I think there's so much potential there but they can never get traction.  They still have almost $30M though and the burn was only $3M last year so lots of time to develop their tech but they've gone nowhere for years and I don't see anything that looks like something is actually happening.

    Check out gold with the bounce (again).  $1,800 doesn't hold exactly but it's still a great bullish line and, of course, $26 on /SI still works too.

    China Accuses U.S. of ‘Unreasonable Suppression’ of Companies. 

    China’s Fading ‘First-In First-Out’ Rebound Sends Global Warning

    French Minister Rules Out New Lockdown as Delta Spreads. 

    ECB’s Lagarde Sees Policy Change in July, Possible 2022 Measures

    Oil Extends Gains With Investors Betting on Accelerating Demand.

    Yellen Targets Curbs on Development Bank Support for Fossil Fuel

    Janet Yellen says tax changes for large firms may not be ready until 2022

    United CEO Sees ‘Huge Desire’ Fueling U.S. Air Travel Rebound

    Microsoft Is Said to Be Buying Cybersecurity Company RiskIQ

    Global Tax Deal Heads Down Perilous Path in Congress

    Earnings Kick Off With Forecasts and Stocks Riding High

    Binance Froze When Bitcoin Crashed. Users Want Their Money Back

    Shipping Delays and Higher Rates Get Small Businesses Jammed Up

    Utilities can be a catch-up trade with Biden’s $579 billion infrastructure bill in sight, CEO says

    Self-driving future looking less like Musk’s Tesla, more like Domino’s Pizza

    Volocopter's Flying Taxi Secures Production Organization Approval As Commercialization Nears

    China: Fragile Giant

    Opinion: The bull market in stocks may last up to five years — here are 6 reasons why.

    Corporate profits are hitting record highs, but earnings expectations may still be too low.


  4. Phil / DIDI – I"m looking to sell some putters – the Feb '22 $12.5 (4.2) look interesting..   this is a high growth company with a long runway, and some big US investors….    thoughts?


  5. DIDI/Batman – I love how you follow up my posts on why you shouldn't play these BS fad stocks with questions on how to play your BS fad stock!  wink

    DIDI is $57Bn at $33Bn in revenues and $1.5Bn in losses vs $92Bn for UBER who have $16Bn in revenues (losing $2Bn) so they are equally silly but at least UBER has a trading history.

    Options on DIDI only got to Feb but at least $4.20 for the $12.50 puts is fat dividends.  $10s for $2.60 net $7.40 vs $8.30 so I'd rather have the upside but make sure it's an amount you REALLY want to DD on if the stock does drop to $5 if, for some reason, investors start demanding returns on their "investments".


  6. I think what bothers me about UBER and food delivery, etc. is they seem to miss the whole point of what they are supposed to be.  An app should be a thing you write that then can scale infinitely and money should simply roll in as more and more people use it.  WTF are they spending $16Bn doing?  $16Bn is about 1Bn rides and let's say you had to somehow service every single ride with customer support – that shouldn't be more than $5 ($5Bn) and then let's say you spend a RIDICULOUS $2Bn on programming and $1Bn on cloud services (monstrous numbers) – where the HELL did the other $8Bn go?  $10Bn as they took a $2Bn loss.  Does Uber advertise?  Do they need assets?  What the hell is going on in these companies?  

    These "tech giants" are not in business to make money at all – only to enrich the stockholders (who are mainly the founders).  The rest is just the scam they run to keep things going.  


  7. Phil / DIDI Thanks for the feedback….  yeah, this would not be a name I'd hold for ever…  I have BABA already and should probably stay out of DIDI for now…..  


  8. Broadcom Inc. AVGO +2.72% is in talks to buy SAS Institute Inc., according to people familiar with the matter, in the latest move by the technology giant to double down on enterprise software.

    A deal, which would value closely held SAS in the range of $15 billion to $20 billion, could be finalized in the coming weeks, assuming the talks don’t fall apart, the people said.


  9. AVGO/Batman – Almost $500!  I used to bang the table on them all the time.  They were always my favorite vs. QCOM.

    BRCM/Albo – That one's in our Income Portfolio, overall trade is still doable:

    Submitted on 2014/01/07 at 10:32 am

    At least BRCM is nice enough to give us a good entry.  Crappy dividend so I think we can make our own by buying the 2016 $25/32 bull call spread for $3.20 and selling the $25 puts for $3.10 for net .10 on the $7 spread that's $4 in the money to start and we can buy 20 of those and pay ourselves a dividend by selling 10 Feb $30 calls for .82 and that's $820 paid out on a $200 cash investment – not a bad start.    That will be the first official play for our new Income Portfolio! 

    If we start a new portfolio with a trade, you know I love that company!  


  10. Phil-you nailed it. When I review the balance sheets and cash flows I am amazed on where all the money goes and so freaking much financing! Makes NO sense.


  11. Yes then down she goes SPCE! Called it.


  12. We haven't had much discussion around the ARK ETFs run by Cathie Wood – specifically ARKK (innovation) and ARKX (space) and ARKF (fintech). Is there a set and forget aspect to any of these? Quite hyped.and popular in the 25-40 crowd.


  13. Comment content omitted because it is too long.


  14. Nonsense/Pirate – The sense is that Musk and Bezos have $200Bn even though the companies they only own part of haven't made that much money in their history.   That's the game now, you make more money getting people to invest than you do running the company so "founders" look for ways to come up with an investible product, rather than a sound business model.  Musk is being sued over TSLA's BS purchase of SCTY, which he was a stockholder of.  

    SPCE/Pirate – Good call, that didn't last long.

    ETFs/Pman – The problem with those ETFs is you are buying overpriced hype machines along with whatever is good and, a lot of times, those fees can crush you over time.  ARKX, for example, holds the following:

    Top 10 Holdings (51.82% of Total Assets)

    Get Quotes for Top Holdings

    Name Symbol % Assets
    Trimble Inc TRMB 9.19%
    The 3D Printing ETF PRNT 6.06%
    Kratos Defense & Security Solutions Inc KTOS 5.62%
    JD.com Inc ADR JD 5.35%
    L3Harris Technologies Inc LHX 5.07%
    Iridium Communications Inc IRDM 4.68%
    Lockheed Martin Corp LMT 4.27%
    Komatsu Ltd 6301 4.26%
    Thales HO.PA 3.99%
    Amazon.com Inc AMZN 3.33%

    Is that what you would buy with you Space allocation?  I much prefer to pick the specific stocks I like and just play them (LMT is our Stock of the Century, having replaced AXON (was TASR) as they already went past being a 10-bagger as our initial pick).  

    No, my mistake.  TASR was only our stock of the Decade for 2010-2020, IRBT was our original Stock of the Century but then they went up 10x and split their business and THAT is why we lost interest in them.  Current Stock of the Decade is SPWR:

    I'll take my ETF over Cathie's any day!  

    And why IRBT is our Stock of the Century:

    Submitted on 2014/04/25 at 12:56 pm

    IRBT/Craigs – Century, TASR is the decade.  I did the math a while ago but short story is IRBT currently sells $500M worth of crap and makes $25M for a p/e of 20.  By next year, they should be up around $650M (+30%), with $35M in profits and a p/e of 18.5.  The military spends $700Bn a year on stuff, like $20Bn on F-35s that don't actually work.  A trained soldier in the field is a $2M/yr expense for the army and, at some point, some of those soldiers will be replaced by $500,000 robots. Not one, not two but thousands of them for Billions of Dollars.  IRBT has the inside track for those programs and already they are testing special-purpose robots like bomb-checkers and scouts – much cheaper to send a $50,000 camera-fitted robot to check out a building than a $2M soldier…  How many squads are there who will get a robot squad-mate in the future?  

     

    That's why I think IRBT is a very likely 10-bagger over the next decade or two.  They are profitable now, a single, Billion-Dollar annual contract from the military (and we aren't the only military) would probably drop 20% to the bottom line or $200M – up from $25M now.  They just have to hit the right mix.

    Also, this:

    Scott Hartley, one of the founders of 5D Robotics, recently had this to say at an Army demonstration at Fort Benning in Georgia: …”ten years from now, there will probably be one soldier for every 10 robots. Each soldier could have one or five robots flanking him, looking for enemies, scanning for land mines.”

    US Army robots will outnumber human soldiers 10 to 1 by 2023

    And destroying all humans!  cheeky

    Submitted on 2014/02/28 at 10:15 am

    IRBT/Jrom – Oh man, I wanna go!  The stuff I want to know is probably the stuff you won't be allowed to talk about but I very much see the future of that company as a massive military supplier so whatever you can share along those lines would be great.  

    Keep in mind folks, the reason IRBT is my stock of the century is because they currently are very attractive with $500M in sales and $25M in profits (p/e 20) with good growth (30%) and a $1.3Bn market cap but a single military contract to supply 1,000 $1M robots would triple their sale.  As far as I can tell, they are clearly one of the leaders in the field – they just haven't cracked the Government contract game yet.

    Tours like the one Jrom is going on are how they grease the wheels. 

     


  15. Submitted on 2019/10/22 at 10:58 am

    LMT/8800 – My Stock of the Century!  I don't short things I like long-term and LMT is too strong otherwise and US defense spending is at record highs and Trump is pressuring NATO to increase spending (ie. give our Military/Industrial complex more money) and LMT has lots of other things in the works – including Fusion – so I wouldn't bet against them. 

    Year End 31st Dec 2013 2014 2015 2016 2017 2018 TTM 2019E 2020E CAGR / Avg
    Revenue $m 45,358 39,946 40,536 47,290 49,960 53,762 57,492 59,188 62,822 +3.5%
    Operating Profit $m 4,505 5,012 4,712 5,888 6,744 7,334 8,105     +10.2%
    Net Profit $m 2,981 3,614 3,605 5,173 1,963 5,046 5,850 6,011 7,043 +11.1%
    EPS Reported $ 9.04 10.1 9.93 12.1 13.0 17.4 20.4     +14.1%
    EPS Normalised $ 9.90 10.1 10.1 12.3 13.0 17.7 20.2 21.2 25.4 +12.4%
    EPS Growth % +17.0 +2.0 +0.3 +21.3 +5.8 +36.5 +31.2 +19.6 +19.5  
    PE Ratio x           21.1 18.5 17.6 14.7  
    PEG x           1.07 0.94 0.90 1.58
    Profitability

    $375/share is still "only" $105Bn market cap.  Divide that by $6Bn CURRENT earnings ($3.1Bn in first half) and the p/e is 17.5 – not over-priced at all with $1Bn (15%) earnings growth projected next year.  

    Lockheed Martin's Skunk Worksis building a new, more capable test reactor as it continues to move ahead with its ambitious Compact Fusion Reactor program, or CFR. Despite slower than expected progress, the company remains confident the project can produce practical results, which would completely transform how power gets generated for both military and civilian purposes.

    Aviation Week was first to report the updates on the CFR program, including that Lockheed Martin is in the process of constructing its newest experimental reactor, known as the T5, on July 19, 2019. The company's legendary California-based Skunk Works advanced projects office is in charge of the effort and had already built four different test reactor designs, as well as a number of subvariants, since the program first became public knowledge in 2014. The War Zone has been following news of this potentially revolutionary program very closely in recent years.

    "The work we have done today verifies our models and shows that the physics we are talking about – the basis of what we are trying to do – is sound," Jeff Babione, Skunk Works Vice President and General Manager, told Aviation Week. "This year we are constructing another reactor – T5 – which will be a significantly larger and more powerful reactor than our T4."

    These aren't blueprints – this is their 5th test reactor!  Fusion is a multi-TRILLION Dollar business and LMT is probably in the lead but they don't have to win the race to get rich – just be one of the early suppliers.  

     

     

    Teams in various countries have built functional fusion reactors, but they remain large, inefficient, and expensive. Last year, China touted progress on its Experimental Advanced Superconducting Tokamak (EAST), but without highlighting that this reactor is situated inside a two-story building within the Dongpu Science Island, a large research campus on a lakeshore peninsula in China’s Anhui Province. An international consortium also hopes to have construction of the International Thermonuclear Experimental Reactor (ITER) completed in France in 2025, but this reactor will weigh approximately 23,000 tons.

    Lockheed Martin says that the CFR design could eventually be small enough to fit inside a shipping container, but still be able to power a Nimitz class aircraft carrier or up to 80,000 homes. The patent documents suggest it might eventually be compact enough to even power a large aircraft.

    It would also only require a fraction of the nuclear fuel found in existing fission nuclear power reactors, which, in turn, would generate significantly less waste over time. The fuel also doesn't need to be anywhere near as refined, making it less dangerous to handle and far less suitable as a starting place to build nuclear weapons.

    I hope it ends up working – this is how the World will be saved!


  16. 3 years after that Lockheed Martin video is this one

    https://www.youtube.com/watch?v=CeJCneMkxQk


  17. Not so dire, actually, they are making a 60-foot reactor vs 10-foot hoped for but the idea is to have fusion, not to be able to take a joy ride with it.

    The project plans to replace the microwave emitters that heat the plasma in their prototypes with neutral beam injection, in which electrically neutral deuterium atoms transfer their energy to the plasma. Once initiated, the energy from fusion maintains the necessary temperature for subsequent fusion events.[6]

    The eventual device may reach 21 m in width.[8] The company claims that each design iteration is shorter and far lower cost than large-scale projects such as the Joint European TorusITER or NIF.[11]

    200 MW Pth reactor, 18 m long by 7 m in diameter, produces about a 2000 ton reactor, similar in size to an A5W nuclear submarine fission reactor.[12][13]

    Challenges[edit]

    Ring magnets require protection from the plasma's neutron radiation. Plasma temperatures must reach many millions of kelvins. Superconducting magnets must be kept just above absolute zero to maintain superconductivity.[6]

    The blanket component that lines the reactor vessel has two functions: it captures the neutrons and transfers their energy to a coolant, and forces the neutrons to collide with lithium atoms, transforming them into tritium to fuel the reactor. The blanket must be an estimated 80–150 cm thick and weigh 300–1000 tons.[6]

    Prototypes[edit]

    The prototype was planned to be a 100-megawatt deuterium and tritium reactor measuring 7 by 10 feet (2.1 by 3.0 m) that could fit on the back of a large truck and would be about one tenth the size of current reactor prototypes. 100 megawatts is enough to provide power for 80,000 people.[8][14] A series of prototypes was constructed to approach this goal.

    T-4[edit]

    Technical results presented on the T4 experiment in 2015 showed a cold, partially ionized plasma with the following parameters: peak electron temperature of 20 electron volts1016 m−3 electron density, less than 1% ionization fraction and 3 kW of input power. No confinement or fusion reaction rates were presented.[citation needed]

    McGuire presented two theoretical reactor concepts in 2015. One was an ideal configuration weighing 200 metric tons with 1 meter of cryogenic radiation shielding and 15 tesla magnets. The other was a conservative configuration weighing 2,000 metric tons, with 2 meters of cryogenic radiation shielding and 5 tesla magnets.[15]

    And the small reactors were only going to be 1MW, this monster is 320MW.  

    Unfortunately, they'll probably flip the switch on one of these things, create a black hole and swallow the Earth, though I guess good riddance at this point….  

    Could explain why there are so many black holes in the universe and so few civilizations.  Civilizations get to a certain point, think they are very smart and mess with things that are too dangerous and POOF!  


  18. KBH   for what its worth dept

     today someone sold 800 April $40 puts for $5 to buy 800 April $43 calls for a credit 

    PSW has the 2023 $35 puts sold for $5   


  19. On the fusion front, there is a really interesting company here in San Diego who are using a different method than the big guys.  Seems they are making some pretty impressive claims.  I believe both of these below mentioned groups also have a HUGE advantage of not using tritium.

    https://tae.com/

    The other one of major interest is Lattice Confinement Fusion which NASA kinda low-key announced.

    https://www1.grc.nasa.gov/space/science/lattice-confinement-fusion/


  20. Sorry, TAE isn't San Diego, but they are Southern California.


  21. KBH/Stock – How can home builders not be doing well with a multi-year housing shortage?

    Fusion/JPH – There were a lot of competing ways to generate electricity back in the day but, in the end, only a few ways won out.  Very tempting but very hard to pick winners in something like this.

    Thermonuclear fusion[edit]

    If matter is sufficiently heated (hence being plasma) and confined, fusion reactions may occur due to collisions with extreme thermal kinetic energies of the particles. Thermonuclear weapons produce what amounts to an uncontrolled release of fusion energy. Controlled thermonuclear fusion concepts use magnetic fields to confine the plasma.

    Inertial confinement fusion[edit]

    Inertial confinement fusion (ICF) is a method aimed at releasing fusion energy by heating and compressing a fuel target, typically a pellet containing deuterium and tritium.

    Inertial electrostatic confinement[edit]

    Inertial electrostatic confinement is a set of devices that use an electric field to heat ions to fusion conditions. The most well known is the fusor. Starting in 1999, a number of amateurs have been able to do amateur fusion using these homemade devices.[13][14][15][16] Other IEC devices include: the Polywell, MIX POPS[17] and Marble concepts.[18]

    Beam-beam or beam-target fusion[edit]

    If the energy to initiate the reaction comes from accelerating one of the nuclei, the process is called beam-target fusion; if both nuclei are accelerated, it is beam-beam fusion.

    Muon-catalyzed fusion[edit]

    Muon-catalyzed fusion is a fusion process that occurs at ordinary temperatures. It was studied in detail by Steven Jones in the early 1980s. Net energy production from this reaction has been unsuccessful because of the high energy required to create muons, their short 2.2 µs half-life, and the high chance that a muon will bind to the new alpha particle and thus stop catalyzing fusion.[21]

    Bubble fusion also called sonofusion was a proposed mechanism for achieving fusion via sonic cavitation which rose to prominence in the early 2000s. Subsequent attempts at replication failed and the principal investigator, Rusi Taleyarkhan, was judged guilty of research misconduct in 2008.[28]

    Pyroelectric fusion was reported in April 2005 by a team at UCLA. The scientists used a pyroelectric crystal heated from −34 to 7 °C (−29 to 45 °F), combined with a tungsten needle to produce an electric field of about 25 gigavolts per meter to ionize and accelerate deuterium nuclei into an erbium deuteride target. At the estimated energy levels,[22] the D-D fusion reaction may occur, producing helium-3 and a 2.45 MeV neutron. Although it makes a useful neutron generator, the apparatus is not intended for power generation since it requires far more energy than it produces.[23][24][25][26]

    Antimatter-initialized fusion uses small amounts of antimatter to trigger a tiny fusion explosion. This has been studied primarily in the context of making nuclear pulse propulsion, and pure fusion bombs feasible. This is not near becoming a practical power source, due to the cost of manufacturing antimatter alone.


  22. Anyone have a broker that lets you sell cash secured puts in an IRA?  Time to move my accounts.  Thanks.


  23. Seer: I use TD Ameritrade to do exactly that, and get to use the same tools as in my bigger trading account.