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42 minutes ago, FirstTimeCaller said:

Interesting with all the tech layoffs. I wonder how much is overhiring during the pandemic and how much is "holy shit Twitter bled their staff and they are still running. Maybe we have too much bloat as well."

Seeing Google is cutting 12,000 workers. Assume they average $100,000 in comp and that's $1.2 billion a year off the headcount. 
 

It was almost assuredly the overhiring that happened during the pandemic. Some tech companies literally doubled. I read Salesforce went from 50k employees to 80k (and they are shedding 8k jobs).

It seems like a right-sizing when money isn't free and growth isn't guaranteed to be exponential way more than a "hey look at Elon burning down Twitter and it still is up and running at least", especially when you see that ad spend is down 40-50% YoY in revenue oof.

Edited by HamsterHookah

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I consider any current layoffs at big tech that account for <10% of their total headcount to just be cleanup that had been postponed due to the last 3 years of insanity, and not really all that pertinent to current economic outlook.

A 6% layoff at Google is mostly just firing people who aren’t doing any work and don’t have any real skills necessary for future growth.

I feel like the market doesn't seem worried about debt ceiling stuff. To me that's a bigger risk right now than inflation. 

1 hour ago, FirstTimeCaller said:

I feel like the market doesn't seem worried about debt ceiling stuff. To me that's a bigger risk right now than inflation. 

If they pass it or don't? It kinda sucks either way.

 

My nonCR 2cents: Our budget (and the need for more debt) should be a percentage of GDP, not a dollar value.

 

US-National-Debt-to-GDP-Ratio-by-Year-10

1 hour ago, Snake Diggity said:

A 6% layoff at Google is mostly just firing people who aren’t doing any work and don’t have any real skills necessary for future growth.

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Welp, that was a nice end to the week. 

See you Monday!

A bit of a breather heading into the weekend.

Dow breaks its 3-day losing streak but drops ~625 on the week.

S&P ends just barely down on the week. Repeatedly struggled to hold 4K.

Nasdaq hits a 5-week high.

6 hours ago, HamsterHookah said:

It was almost assuredly the overhiring that happened during the pandemic. Some tech companies literally doubled. I read Salesforce went from 50k employees to 80k (and they are shedding 8k jobs).

Salesforce was absorbing head count from acquisitions

6 hours ago, FirstTimeCaller said:

I feel like the market doesn't seem worried about debt ceiling stuff. To me that's a bigger risk right now than inflation. 

so our leaders are ignoring today’s inflation while creating tomorrow’s inflation (by way of increasing indebtedness)
 

5 hours ago, Cheeseweasel said:

My nonCR 2cents: Our budget (and the need for more debt) should be a percentage of GDP, not a dollar value.

 

US-National-Debt-to-GDP-Ratio-by-Year-10

spend/borrow what you make? thats radical talk, feller. 

When someone finally starts caring about the increased debt service cost the fed is creating it’s going to be a sight to behold.

12 hours ago, FirstTimeCaller said:

Seeing Google is cutting 12,000 workers. Assume they average $100,000 in comp and that's $1.2 billion a year off the headcount. 
 

I would quite doubt that 100k is average. Probably closer to double that. It's pretty serious savings.

On 9/23/2022 at 11:58 AM, Incredulity said:

 

I'm only up 18% on my equities since you posted this bullshit back at the end of September.  How you doing?

4 hours ago, Fudge Nuggets said:

I'm only up 18% on my equities since you posted this bullshit back at the end of September.  How you doing?

My account is up 14% from 9/23 to today.  I am much more weighted in long term value like KO, PEP, MCD,JPM than growth.

 

care to share your performance from 8/15 - 9/23?  Here’s a hint.  It was awful.

On 1/18/2023 at 12:47 PM, Cheeseweasel said:

Up?

Wrong.

Down?

Wrong.

Sideways?

Also somehow wrong.

Believe it or not, straight to jail. 

I work at Amazon corporate in Seattle and man watching those guys show up on Wednesday finding out if they were laid off or not was weird.  Bunch of young kids looking like they just got their puppy kicked

15 minutes ago, FartingMonk said:

I work at Amazon corporate in Seattle and man watching those guys show up on Wednesday finding out if they were laid off or not was weird.  Bunch of young kids looking like they just got their puppy kicked

Punch Sam in reception in the nads for me (my little brother)

6 minutes ago, Hank_Hill said:

Punch Sam in reception in the nads for me (my little brother)

What building is he in?

2 minutes ago, FartingMonk said:

What building is he in?

Rotates, mostly Doppler though

11 hours ago, Fudge Nuggets said:

I'm only up 18% on my equities since you posted this bullshit back at the end of September.  How you doing?

Hi Rocko, hows the paystub competition going?

31 minutes ago, Hank_Hill said:

Rotates, mostly Doppler though

Ah, I'm over at ReInvent and Summit

5 hours ago, 52-80 said:

Hi Rocko, hows the paystub competition going?

Rocko was a shitty poster, but not never that bad.  

Next to Grendel, Rocko was the most annoying mfer in the history of the internet.

15 hours ago, hornian said:

Believe it or not, straight to jail. 

Undercook, overcook.

On 1/20/2023 at 10:56 AM, Cheeseweasel said:

If they pass it or don't? It kinda sucks either way.

 

My nonCR 2cents: Our budget (and the need for more debt) should be a percentage of GDP, not a dollar value.

 

US-National-Debt-to-GDP-Ratio-by-Year-10

If our politicians rigidly tied the budget to the GDP, they’d just end up cooking the GDP to spend what they want

21 hours ago, tbone_ said:

Next to Grendel, Rocko was the most annoying mfer in the history of the internet.

You sound like somebody from the anti-leaving price tags on your sports coats cabal. Your lack of specifying how many 220 pound bench press reps you can do is…..noted.

22 hours ago, B00M said:

If our politicians rigidly tied the budget to the GDP, they’d just end up cooking the GDP to spend what they want

That's actually a really good point.

On 1/17/2023 at 9:19 AM, WBT said:

S&P500 back over 4000...again.  For how long this time?

And we're back. Never to go below ever again. No siree. Nothing will ever take the market below the 4K mark.

36 minutes ago, FirstTimeCaller said:

And we're back. Never to go below ever again. No siree. Nothing will ever take the market below the 4K mark.

Are you jinxing me?

spacer.png

39 minutes ago, FirstTimeCaller said:

And we're back. Never to go below ever again. No siree. Nothing will ever take the market below the 4K mark.

christmas vacation GIF

2 hours ago, FirstTimeCaller said:

And we're back. Never to go below ever again. No siree. Nothing will ever take the market below the 4K mark.

Talladega Nights The Ballad Of Ricky Bobby Dont You Put That Evil On Me GIF - Talladega Nights The Ballad Of Ricky Bobby Dont You Put That Evil On Me Angry GIFs

Nope, there will be no debt limit issue, surprise inflation, nuclear holocaust, Fed-fueled recession or any other event that will ever take us below $4K again. Smooooooth sailing from here on out.

In all actuality, I'm still relatively bullish so I do think we spend some time in a rally mode... or at least no longer dragging along the bottom. August peak was around 4,300. Seems like a spot to test out.

On 1/25/2023 at 9:20 AM, bernorange said:

I think Microsoft is asking @FirstTimeCallerto hold it's beer.

What's that?

47 minutes ago, bernorange said:

M$FT news preceeded S&P downtrend yesterday.

Yep, it was known.

On 1/25/2023 at 9:20 AM, bernorange said:

I think Microsoft is asking @FirstTimeCallerto hold it's beer.

S&P up 2.5% since you posted that. 

Great.  Maybe don't jinx it again?  Your command of the dark arts is scary.

18 hours ago, Sam Lin said:

No, that's Wally.

can't be me - I ain't doin shit right now, just sitting back trying to figure out how not to lose; while I sit an watch all the talking heads make their guess

we all getting laid yet?

i bought some Tesla in my infant's designated account.  he's basically having a better 1-week return than any fund manager on earth.

but i sold some covered calls on my own account, so some shares will be removed from me below the closing price 🤕.  hoping to buy back in the 150s-160s with a standing limit order.

Rough Monday… We really should’ve sucked each others dicks last week

28 minutes ago, B00M said:

We really should’ve sucked each others dicks last week

Awkward Nervous Wreck GIF by DeRay Davis

40 minutes ago, B00M said:

Rough Monday… We really should’ve sucked each others dicks last week

Stone Cold Reaction GIF by WWE

51 minutes ago, B00M said:

Rough Monday… We really should’ve sucked each others dicks last week

Today is nothing. Nothing matters until the Fed meeting and the earnings calls from Big Tech. That's going to lead the direction this week.

3 minutes ago, FirstTimeCaller said:

Today is nothing. Nothing matters until the Fed meeting and the earnings calls from Big Tech. That's going to lead the direction this week.

"And we're back. Never to go below ever again. No siree. Nothing will ever take the market below the 4K mark." - Some regarded poster

Buy the dip'; midweek we will announce a .25 increase which will get everyone excited to buy because it's nearing the end of having to do this crap.

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