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The market hates uncertainty. But Susan loves her Air Pods.


+ How long will the shutdown last? It’s already the longest.

+ 800,000 government employees are selling their possessions to pay for their food, gas and heating. A TSA employee earns just over $12 an hour. Try living on that. Right now he’s working, but not getting paid. More and more are calling in sick. Wouldn’t you?

+ Small businesses can’t get loans or get paid.

+ Will we shut down flying in the U.S. because there’s no one left to direct the planes or vet the passengers?

+ How many Americans will die because our food is no longer being inspected?

+ How many IPOs won’t happen?

When did compromise become a dirty word?

Are we living in a modern day loony bin?

Earnings season begins this week. It should be good. But few will pay attention until this shutdown is solved.

How do drugs get smuggled into the U.S.?

From CNN:

Traffickers at the El Chapo trial say drugs aren’t smuggled through open parts of the border

New York (CNN)Most drugs are smuggled into the United States onboard fishing boats, trains, tractor-trailers and ordinary cars that come into the country at legal ports of entry, according to former cartel members who’ve testified in the trial of notorious cartel leader Joaquin “El Chapo” Guzman.

Some cartel members have testified about using underground tunnels. But none have said they’ve transported drugs into the United States at unwalled sections of the border.

For more, click here. 

Susan loves her Air Pods so much…

She won’t let me borrow hers. She insists I get my own set.

Here’s what I learned about these:

+ They’re a thousand times better than the cheaper $40 knockoffs you can buy on Amazon. Trust me on that one. I bought two pairs of knockoffs and they were both sh*t.

+ Susan loves listening to podcasts on them while she exercises, since the air pods stay in her ears and the sound quality is fantastic.

+ You can use them to “spy” on people or use them as rudimentary hearing aids. For more click here and hereIf you get a divorce because you spied on your wife, please don’t blame me. If you get fired because you spied on your boss, don’t blame me.

+ Many of us get cancer cut from our ears. When your plastic surgeon cleans up the mess, ask him/her not to mess up your ear, so it will no longer hold an Air Pod. Trust me on this one.

Focus on “Risk” changes in annual reports.

From the New York Times’ Jeff Sommer:

How Companies Like Apple Sprinkle Secrets in Earnings Reports

This article is based on some really interesting academic studies. From Sommer’s article:

In November, for example, I asked Professor Cohen how I might make practical use of his insights.

He suggested two things: “First, always download the previous version of a corporate report as well as the current version, so you can compare the language. Focus on the differences from year to year. Second, focus on one section, the `risk factors section.'”

I did just that, looking mainly at the latest Apple corporate report, posted on its website on Nov. 5. There was plenty of new language describing the risks that Apple faced – risks that Apple executives discussed in November and disclosed more directly in a letter to shareholders on Jan. 2.

These risks included the possibility of an economic slowdown in a place like China, the possibility of slowing iPhone sales, the threat of a trade war and the potential impact of unfavorable foreign exchange rates. All of these risks have actually materialized and Apple shares have sunk, pulling down the overall stock market.

But based on the language changes in the corporate report alone, was there a specific reason for investors to bid down Apple stock, or for a journalist to conclude that Apple was in serious trouble?

I didn’t think so at the time, and I still don’t. The linguistic clues were another piece of evidence that needed to be evaluated and, perhaps, bolstered, by other research.

Clues like that have real value, though. The “Lazy Prices” research will, at the very least, lead me to read these reports a little differently, in the hope of using them to unearth deeper truths. What’s more, until the “Lazy Prices” research is widely understood, it may be possible for some investors to profit from it.

Meantime, you should read Sommer’s article. Click here.

The Australian 2019 Open is now playing on The Tennis Channel

Which is a lot more fun than watching what isn’t happening in Washington. D.C.

When you get pulled over

Harry Newton, who played tennis three times on the weekend. And lost three times. Chasing balls is good for the soul. Tennis a running game.

  • Mike Nash

    I am an unabashed supporter of President Trump and I am thrilled to see the airports such a mess! I hope they shut down so the elites can’t travel! Trump is one of a kind who’s not afraid to screw the Democrats but good! I don’t care about federal workers since I’m not one. I want a Wall and I want Hillary locked up! She needs to stand trial NOW. MAGA.

    • harrynewton

      The “elites” can’t travel??? Ever met a grandmother traveling across country to see her grandchildren? What about children visiting their father who’s in hospital after a heart attack? You’re a little heartless?

      • Secret Squirrel

        I’ll bet the troll is not even a Trump supporter Harry. He just wants you think real Trump supporters are as stupid and ignorant as he is.

      • johnjplummer .

        American have always made sacrifices. Get over it Harry!

    • US Vet

      If the wall is so important to trump now, why didn’t he and the Repubs make it a priority to fund during the 2 years they were all in charge? What an idiot!

  • Dman

    Harry, why don’t you put up some material explaining to us why you love NYC Mayor Billy De so much?

    ……Tell us of all the wonderful things Mayor Bill De has done.

  • KC Chuck

    Harry- Costco has the Air Pods in stock (in Tucson AZ) for $140-the real deal! Go Chiefs!