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Whatever happened to civility? Whatever happened to Goldman Sachs?

Today the virus is not being kind to our tech stocks. Especially my biggest holdings — Apple, Amazon, Nvidia, Zoom and Shopify.

I don’t like the fact that right now (late morning) I’m down 2.4% — a lot in one day.

So far, nothing has cratered to make it an obvious “bargain.” I’m looking for something like 10%.

I’m chalking up today’s volatility to election/virus fever.

Hence, time to play tennis.

Goldman Sachs hides in the basement

Or somewhere. But not on email. Remember this clip from my Vintage Fund IV account at end September with Goldman Sachs from yesterday?

Goldman Sachs still hasn’t replied to my email about perhaps closing the fund down and giving me my money back?

But the “good” news is that last night I found a “capital analysis” statement from them dated December 31, 2019.

Now, try this: This fund started in October 2006 — that was 13 years from the statement. Based on their report and my calculations, they have earned me exactly 0.95% a year since. Even treasuries would have done a lot better!

And now you know why I wouldn’t give Goldman Sachs a nickel of my money ever again to “manage.”

Thanksgiving:

Should you get together with your family?

The short answer is NO.

Don’t believe me? Read this:

The odds of catching the coronavirus are about 20 times higher indoors, and private, indoor gatherings have been linked to several coronavirus outbreaks. In June, a surprise birthday party in Texas resulted in 18 coronavirus cases. In July, a house party in Michigan led to 43 cases, and a family gathering in North Carolina led to 40 cases because the attendees “went about their daily lives” before they started showing symptoms. In some places, in-home gatherings are now responsible for the majority of new coronavirus cases. A recent Centers for Disease Control and Prevention report showed how a chain of family gatherings in Chicago led to three deaths.

You can read the rest of the Atlantic article here.

Wear a Mask

The kids will like this short musical.

Whatever happened to civility?
Whatever happened to facts?

I worked as a reporter on Business Week in the summer of 1968. I submitted my stories to fact checkers. They called all my sources and read them the quotes I’d used in my article. They also checked my facts and numbers. My story came back a day or two later with blue check marks (or question marks) in the column.

In those days there were three networks, each with an evening newscast. That was where most Americans got their news. Cable TV was only for mountainous and remote areas where over the air TV didn’t reach.

Then came the information technology explosion — satellite TV, cable TV, fiber and (God help us) the Internet. Thousands of TV channels and, now, several hundred million web sites, of which mine is only one.

Virtually all of these channels and websites exist because of advertising. To sell advertising, they need readers and viewers. To secure readers, they need appealing content. As channels and web sites exploded so the need for new and compelling material became more urgent. Fox moved to the right, slicing off an increasingly larger share of viewers.

Competition for ad dollars was so intense that “luxuries” were reigned in — fact checkers disappeared. Soon facts got replaced by opinion and then made-up “news”, also called conspiracy theories.

Two days ago, I had the audacity to recommend that you, my readers, vote for Joe Biden and Kamala Harris. The comments and emails poured in. They were pretty evenly split between those appreciative of my effort to stand up for my belief that Donald Trump is a danger to our democracy, and those who denounced me for my opinion.

The latter group was generally insulting. Calling me an idiot was on the more restrained end of the insults. Many forwarded extensive documentation they had picked up on the Internet to prove me wrong. I ran some of the stuff through Google — to find that there were gigantic errors of fact. Some of it was so off the planet, even  Google (and Wikipedia) were stumped.

Everyone has the right to send Harry whatever he (or she) wants. And everyone can send stuff that seems to back up their position that one candidate is better than the other. But, please, don’t send it as “fact.” Unless you check it.

If you want to believe it, that’s your prerogative. But please lay off the insults. I’ve written to several venomous readers, “Didn’t your grandmother say if you can’t say something nice, don’t say anything?” Not one of them said, “Oops, or sorry.”

Sadly, many hide behind pseudonyms like Len, The Truth, Dman, etc. If I knew your real names, I’d kill your free subscription.

Let’s agree to lay off the insults and treat each other as Americans who live in the United States of America and want the best for our country.

You can’t build (or maintain) a country where half the people hate the other half.

Cobb wrote me this hateful nonsense: “You can judge a man by his enemies – the pathetic bunch of losers and miscreants propping up that 80-year old walking death rattle of a fraud called Biden ….go Donald – MAGA.” By the way, Biden is 77.

Mark Meadows (and the Administration) give up

October 25, 2020: Washington (CNN)White House chief of staff Mark Meadows said Sunday that the US is “not going to control” the pandemic because it is a contagious virus.”

What could they do? How about a national mask mandate backed by some clever national TV advertising? See above.

My Oregon family drove to the beach.

They called it Beach Yoga. Good that Mr. Sun obliged to make a great photo.

See you tomorrow. I’ve got to give up eating. I’m become fat pig. — Harry Newton