Today, Friday, January 19, is the final day you can purchase Bitcoin Investment Trust (GBTC) at its current value. At the moment that is $1,818. On Monday the company will do a 91-for-1 (don’t ask about the 91 thing) stock split, meaning that if you own one share today, you will own 91 on Monday.
Is it worth it?
I’m only including this item—and separately from IAH!—so that you’re armed with knowledge. A year ago today GBTC was selling for $118 per share, which means that it’s value is up more than 15 times in the past year. That’s almost unheard of. If you put $10,000 down on GBTC on January 19, 2017, that would now be worth $154,000.
However, a month ago yesterday GBTC was selling at an all-time high of $3,485 per share, which means that its value has nearly halved in just the past month. Which way will the stock go now that its per share price (about $20 per share come Monday) will be so much more accessible to the home investor? We’ll see.
I’m not telling you what to do here. Just advising that the game’s taking place.
The Washington Post made Senator Jeff Flake’s (R-Arizona) Tuesday speech very easy to digest right here, but one line stands out for me: “It bears noting that so fraught with malice was the phrase ‘enemy of the people,’ [used by Donald Trump last year in reference to the press] that even Nikita Khrushchev forbade its use, telling the Soviet Communist Party that the phrase had been introduced by Stalin for the purpose of “annihilating such individuals.”
Of course Fox News shredded Flake for using that line, telling its viewers that Flake compared Trump to Stalin and noting that the latter was responsible for the deaths of 20 million people. That’s what’s known as a straw man argument.
Meanwhile, Trump “handed out” his Fake News awards via Twitter the following night. After singling out CNN and a few others, he did his media-tailored version of “and some of them, I assume, are good people,” by noting that there were “many great reporters I respect,” (all of whom work at Fox, one assumes).
The Supreme Court voted in favor of the 1st Amendment, 6-3
Meanwhile, last night I saw The Post, in which a thin-skinned president gets so upset with a newspaper printing the truth that he bans them from being inside the White House, only to have that same newspaper end his presidency two years later. There’s a line in the film, tossed in as an aside near the end, in which someone says, “If a president can’t keep secrets, how can he effectively govern?”
George Orwell said it best, and Flake referenced this lien in his speech, ““The further a society drifts from the truth, the more it will hate those who speak it.”
2. Sea Ya Later
According to NASA, which is not known as a liberal faction, the five warmest years on record (since we started recording stats, which are for losers, in 1880) have all taken place since 1880. Warm years mean melting ice, which mean higher sea levels, which means bad news for the Bangladeshi island of Kutubdia, which may soon no longer exist.
3. President Rump
At 239 pounds (listed), Donald Trump is the third-heaviest president in U.S. history behind (and there’s a lot of it) William Howard Taft and Grover Cleveland (who was president twice). Taft, who served from 1909-1913 weighed as much as 340 pounds, though he did go on a diet in office and lost 60 pounds. He died at the age of 72.
Cleveland, who served from 1885-1889 and 1893-1897 (he is our 22nd and 24th president), weighed in the 240-280 range. He died at the age of 71.
Taft, as both prez and then later Chief Justice, was likely closer to a stable genius
Trump is 71 and will turn 72 in June, on Flag Day. He supplants as the third-heaviest president in U.S. history a man named Bill Clinton.
Taft was a pretty impressive dude, by the way, as he was also Chief Justice of the Supreme Court after leaving the White House. He is the only man ever to hold both jobs.
4. Stats Are For Losers
Allen could be one of the few people who’s ever worn brown in both college in the NFL as the primary uniform color
Yes, but if the Cleveland Browns are not losers, Mr. Kiper, then who is. Yesterday Mel Kiper, Jr., fueled the quietest of sports days by proclaiming Wyoming quarterback Josh Allen his No. 1 overall pick in his first (of a few) 2018 NFL Mock Drafts.
Responding to skepticism on ESPN’s SportsCenter, Kiper said, “Stats are for losers; the guy won,” before placing Allen ahead of Josh Rosen, Sam Darnold, Baker Mayfield, Lamar Jackson and Mason Rudolph (QBs all).
The Cowboys did go 16-11 in Allen’s two seasons as a starter, which is better than the 6-18 they want the previous two years. Then again, all the dudes named there had superior numbers than Allen last year and all except Rosen won more.
Allen’s size is mouth-wateringly appealing for NFL GMs—6’5″, 240—but last season he had the exact same TD/INT numbers (16 and 6) as Notre Dame’s Brandon Wimbush and against far inferior competition. Will he now be drafted by the Browns to supplant the dude Wimbush succeeded, DeShone Kizer?
5. Tennys, Anyone?
At the Australian Open, unseeded American Tennys Sandgren took down 2016 U.S. Open champ Stan Wawrinka in straight sets to advance to the Round of 32. As his Wikipedia page states, “Although Tennys Sandgren is a tennis player from Tennessee, he is actually named after his great-grandfather who did not play tennis and was not from Tennessee.”
Music 101
Der Kommisar
Peak New Wave? For this early ’80s high school punk, it was 1982-83, when this song hit the top of the charts in six European and Asian countries as performed by Falco (above), then was covered in English by After The Fire and went to No. 5 in the USA.
Nearly 40 years ago there was a highly progressive and controversial sitcom (what’s a sitcom?) on TV that was titled Three’s Company (Why was it controversial? Because a man lived with two females, even though it was completely platonic). Even though I watched it as a tween, I’ve never forgotten the scene in which Janet and Chrissy (or was it one of the post-Chrissy blondes?) are discussing bad dates. Janet says, “Why can’t men understand that ‘NO!’ means ‘No’?….(waits a beat)….Except when it doesn’t?”
Granted, that line was probably written by a man. I don’t know.
All of which is to say that I’m not ready to place Aziz Ansari in the class of Harvey Weinstein or Kevin Spacey. The mating dance among singles is highly complex and while you sit in your cubicle judging Ansari for his behavior on a date, it’s not after midnight and alcohol isn’t involved at your desk and as soon as we get to signing consent forms and asking for a verbal yes on dates as if we’re asking if we have permission to intubate your loved one (I didn’t even think of the symbolic parallel before I typed that), we’re heading down a miserable path.
And that’s all I have to say about that…for now.
2. The Beatles Begged You To Do This 50 Years Ago!
The most intriguing news of today thus far to us is that Great Britain has appointed a Minister for Loneliness. Tracey Crouch, above, has been put in charge of forming a ministry for the estimated 9 to 11 million people in the U.K. who feel lonely. Is this what Brexit hath wrought?
First house call, of course, should be to one Eleanor Rigby….
3. Amazon Finalists
“You want me to move to Newark?!?”
This morning Amazon, playing this up for all its worth, released its list of 20 finalist cities for its second major base of operations. We shall now proceed to the evening gown competition.
In case you were wondering, the island of Themyscira did not make the list but the island of Manhattan has. Or at least New York City, so perhaps Long Island?
Here is the complete list. Expect Amazon to set up its second facility in the Eastern time zone: Atlanta, GA; Austin, TX; Boston, MA; Chicago, IL; Columbus, OH; Dallas, TX; Denver, CO; Indianapolis, IN; Los Angeles, CA; Miami, FL; Montgomery County, MD; Nashville, TN; Newark, NJ; New York City, NY; Northern Virginia, VA; Philadelphia, PA; Pittsburgh, PA; Raleigh, NC; Toronto ON; and Washington D.C.
4. Larsen-y
This is Ripple co-founder Chris Larsen, 57, who when his cryptocurrency soared to a value of $3.84 on January 4 found himself to be, on paper at least (notes the irony of talking about the net worth of a crypto-billionaire using the words “on paper”), wealthier than Mark Zuckerberg. Larsen was worth $59.9 billion.
But yesterday Ripple (XRP) plunged to a value of $1.13, meaning that Larsen had lost $44 billion of his net value (and how does anyone expect to get by in Silicon Valley on $15 billion, right?). The good news for Larsen is that this morning Ripple is up 69% to $1.84. And you say trading cryptocurrencies aren’t fun? Let’s listen to what another billionaire, T. Boone Pickens, had to say about them yesterday:
At 89, anything with the word “crypt” in it is a real turnoff for me. https://t.co/ARapSNNp6S
By the way, GBTC is up 12% this morning. Crypto is a roller-coaster. If you don’t have the stomach for it, go ride the tea cups…
5. Jo Jo White
White’s and Walt Frazier’s battles were intense
My favorite basketball team was, is and likely always will be the 1972-1973 New York Knicks. Every great team needs a nemesis, and for those Knicks it was the Boston Celtics, who were led by forward John Havlicek, center Dave Cowens and point guard Jo Jo White. A Hall of Famer who played at Kansas, White died yesterday at the age of 71.
A seven-time All-Star, the 6’3″ White never led the NBA in any stats, but he was smart and tenacious and just a true pain in the ass, and I mean that as a compliment. The Knicks won in seven games in the Eastern Conference finals that season, winning Game 7 at the Boston Garden, something that just did not happen back then.
White versus the Suns
Three years later, White would not only play in the famous triple-overtime NBA Finals win versus another favorite team of mine, the ’76 Suns, but if you check out the stat sheet from that contest he was the game’s leading scorer (33 points) and led in assists (9) He played 60 minutes that night. White would be named MVP of the 1976 NBA Finals.
White also played in 488 consecutive games for the Celtics and was a key part of two NBA championship teams.
Reserves
We couldn’t move on until we at least noted the following….
—Mekhi Brown, the Alabama special teams stud who went after a Tide assistant coach on the sidelines during the national championship game, has left Tuscaloosa and plans to enroll at Tennessee State, where coach-punching is already a thing, as you may recall…
https://www.youtube.com/watch?v=f6Kx5ry8aQs
–Mel Kiper, Jr., released his first NFL mock draft and has the Browns selecting Wyoming quarterback Josh Allen No. 1 overall, the Giants taking Josh Rosen and the Broncos, at No. 5, selecting Sam Darnold. If the Browns take Allen they’ll be laughed out of the hemisphere, by the way.
The truly smart picks in this draft are Saquon Barkley, Minkah Fitzpatrick and Quenton Nelson. Guaranteed future Pro Bowlers. Gua-RON-teed.
–A woman named Kirstjen Nielsen, the most Nordic-sounding named Secretary of Homeland Security we’ve ever had, claimed under oath that she was unaware if Norway is a predominantly white country. Really. Really. On today’s episode of The Worst Wing….
Music 101
She Sells Sanctuary
Lead singer Ian Astbury has never become a household name, unless you live with a post-punk/heavy-metal-goth sibling, but The Cult was one of the hardest-rocking bands in the Eighties and certainly the hardest-rocking outfit from England. This 1985 face-melter with the classic opening riff gave bands like The Church a few ideas for later on.
Remote Patrol
Mindhunter
Netflix
https://www.youtube.com/watch?v=7gZCfRD_zWE
Reviewers are calling this “Netflix’s most binge-worthy original series yet,” and having fallen down a four-episode rabbit hole last night/this morning, I agree. The true story of the two FBI agents who basically invented psychological criminal profiling, the series is thus far highly engrossing without ever being gross. And I never even knew about Edmund Kemper, California’s highly intelligent, 6’9″, 270-pound “Coed Killer,” who speaks to the Feds and is still alive today. Show runner David Fincher, who directed Zodiac, directs this with a similar feel. Excellent.
*The judges will also accept “KoKo” and “Kim Jong-Unprecedented”
In a 38th-unparalleled move, the bickering nations of North Korea and South Korea announced that they will field a joint women’s ice-hockey team and march as one delegation under a unified Korean flag at the Pyeongchang Olympics next month. Who thaw that coming?
2. Let’s Get Physical
Congratulations to President Trump, who after a half-century as an adult standing 6’2″ has, as of yesterday according to the results of his physical, grown an inch to 6’3″ as a 71 year-old man. I guess the Oval Office truly does add stature. In related news, the Fake News Awards are scheduled to be held today.
Trump is also generously listed at 239 pounds, which as one tweep noted, could set off a “girther” issue.
3. Bitcoin Bust?
What did Margot Robbie say about “sub-prime?”
MH’s stock pick for 2018, Bitcoin Investment Trust (GBTC), is down 17% this morning, as the Monday morning quarterbacks come to feast on its carcass. Full disclosure, we own one (1) share of GBTC right now.
Are Bitcoin and cryptocurrencies being exposed as a fraud/scam/pyramid scheme, or is this just a monstrous swing of the pendulum, abetted by the words of the Oracle of Omaha last week? We’ll see.
Worth noting that most crypto experts predicted that bitcoin would suffer huge pullbacks in 2018 before ultimately doubling in price above $40,000. One Bitcoin is as we type this currently worth $9,503, down from $14,000-plus just last week.
Our advice (feel free to assess it at the value of which you are paying for it): Jump in to GBTC if/when it dips below $1,200 and in the meantime, take a close look at our new favorite stocks, Boeing (BA) and VMWare (VMW).
4. Tragedy In Pullman
Hilinski (3), a redshirt sophomore from Claremont, Calif, was 21. He was expected to be Wazzu’s starter in 2018.
Less than one month after completing 39 of 50 passes in Washington State’ Holiday Bowl loss to Michigan State, Cougar quarterback Tyler Hilinski apparently commits suicide in his Pullman apartment. Hilinski, a backup who started in place of Luke Falk for the Cougars’ bowl game, was found dead with a gunshot wound to the head. The sophomore from Claremont, Calif., left a suicide note.
5. He Actually WAS Awesome
I came across this comedy act for “Britain’s Got Talent” and like you, was prepared to be disappointed by “Johnny Awsum,” but like the judges, was pleasantly surprised. It’s dated, but who cares? It’s great.
Music 101
Short Skirt/Long Jacket
“With fingernails that shine like justice…” and “She’s touring the facility/And picking up slack...” This slice of Cake wasn’t for everybody, as their official video was happy to illustrate, but this 2001 tune from the Sacramento-based band is one of the smarter tunes of the 21st century.
Remote Patrol
Fake News Awards
Time & Channel TBA
First they were supposed to take place about 10 days ago. Then they were delayed. Now they may not happen. I hope the first award is given to Donald Trump for promising that he had proof that his predecessor was not born in Hawaii.
Vendela: Imagine what she could contribute to America
Viking Quest*
*The judges will also accept, “You Go Norway And I’ll Go Mine”
Today’s weird thought: A majority of the Minnesota Vikings’ roster, and I’m assuming here (I haven’t line-itemed this), is comprised of African-Americans who, by (Trump’s) definition, hail from “shithole” countries. And yet these players represent a team whose mascot is a historical figure, hailing from what is present-day Norway, whose main claim to fame is that of being foreign invaders and rapists.
All in one day, Clemson All-American defensive lineman Christian Wilkins, Stanford’s Heisman runner-up Bryce Love, and Notre Dame’s leading tackle Te’Von Coney, all announce that they will return for their senior seasons.
One more year
Wilkins has been to the college football playoff three times in three years and will be part of a Tiger D-line that returns three All-Americans. Coney did not start until Notre Dame’s sixth game but led all Irish tacklers by at least 24 tackles and was the leading tackler in bowl season, with 17 in the Citrus Bowl. Irish nose tackle Jerry Tillery will also return (as will Drue Tranquill).
The middle of the field is now Coney Island
As for Bryce Love, we’d NEVER presume to tell a college kid what he should do with the Stay in School or Go Pro choice, but we will offer up these notes: 1) no position takes more abuse than running back and 2) no Power 5 coach we know of seems more blithely unconcerned about keeping a hurt player out of a game than David Shaw. The good news is that Love could actually win the Heisman next season and proceed directly to medical school if he desires.
3. Martin Luther King, Jr., and Capitalism
As we look back on MLK Day (What did you shoot, Donald?…No, really?), you might want to remember that the Rev. Dr. King had some blunt thoughts not just about race but about capitalism. Two of our favorites:
“[Capitalism] started out with a noble and high motive… but like most human systems it fell victim to the very thing it was revolting against. So today capitalism has out-lived its usefulness.”
And…
“We must recognize that we can’t solve our problem now until there is a radical redistribution of economic and political power… this means a revolution of values and other things. We must see now that the evils of racism, economic exploitation and militarism are all tied together… you can’t really get rid of one without getting rid of the others… the whole structure of American life must be changed. America is a hypocritical nation and [we] must put [our] own house in order.”
For the record, I was an avowed capitalist until I saw what happened in 2008 and 2009. That’s when the nation’s staunchest capitalists, investment banks, suddenly became socialist when their own businesses failed (failures that they themselves incited). In a true capitalism system, those banks would have gone out of business and someone else would have come in to fill the vacuum. After all, capitalist theory espouses that where there is a market for a good, someone will come in to create that good.
So what we learned in 2008-2009 is not that America believes in capitalism, but that it believes in white power institutionalism. And you’re either in that small circle or you’re f****ed. American capitalism, the sub-prime mortgage crisis proved beyond a doubt, is a charade.
Trump golfed on MLK Day. His golf outings alone have cost American taxpayers $50 million this year and it still hasn’t been an entire year yet
And so Dr. King knew all of this. And militarism is just an excuse to keep the majority of the populace afraid and uneducated, because stupid Americans make fantastic patriots. Meanwhile, imagine if the military budget was reduced by just 1/10th (we’d still be by far the most militarized nation on earth) and that we created STARTING salaries for teachers at $100,000.
And some moron is going to say, “Well, they’re not worth that much,” but they sure would be soon, because as soon as that’s the starting salary for teachers, then you’re going to get a much, much, much more competitive job market. In fact, it’ll be like trying to get into law school or even medical school. And with that more competitive job market we’d get a higher overall class of teachers and in a decade or two a better-educated populace.
But if you’re already white and already economically in control, why the hell would you want that, right? Do I sound angry? I am.
Apparently, the Rockets and Clippers got ensconced in some type of postgame locker room fiasco that was definitely not the most fitting tribute to the memory of Dr. King and nonviolent resistance. A friendly reminder that it is January in the NBA and the players are nearly as bored as you are (the Clippers won by 11 as Lou Williams put up 31 as the weirdest sports renaissance of the NBA season continues).
Meanwhile in Cleveland, the Warriors shut down the Fighting Sweet Peas, outscoring them by 17 in the second half to cruise home with a 10-point win. Golden State has won 7 of 8 from their three-time NBA Finals nemesis.
5. Doctor Evil
Nothing to add here, just watch…
Larry Nassar was employed by the Michigan State athletic department…
Music 101
Linger
That voice. That soft, haunting, sorrowful Irish voice. Dolores O’Riordan and the Cranberries crashed onto FM radio and the MTV in 1993 and there was no mistaking her gift. The song went to No. 8 in the U.S. and remained on the charts for 24 weeks, nearly six full months. In the last days when MTV truly mattered as a vehicle for music, the Cranberries were one of the channel’s bigger mainstays. O’Riordan died unexpectedly at the age of 46 in London yesterday.
Remote Patrol
Australian Open
9:30 p.m. ESPN
Winter’s great annual sports escape, live from Melbourne.
