I Love it. The POS bank I work for is sending every job they can overseas with a quickness. I’ll be lucky to have my job inside of 18 months. Goldman here I come.Originally Posted by sonatine
speaking of GS i hear they are moving to florida.
seems like an odd choice from a culture perspective. like how do you sell living in florida to a fingoon on a 10 acre estate in long island or whatever.
Like I said above - we are 12 years post Lehman Brothers. There is no money out there for banks and investment firms to make that isn’t tied to inflation. They are all filled with Ivy league MBA’s And they can’t figure out how to make money and “grow the business” without stealing it from some other bank only to have that bank come back on them with even lower fees. The only handle they have to pull, generally speaking, is to lay off people in high cost locations and replace them with low cost locations.
8 years ago my department had 150+ people making 100k+. We down to 15 tops and 200 people in India. The 15 people do as much work as the indians.
They don’t care. The guys at the top want the 8 figure bonus so no more 175K a year jobs.
You were training these foreigners if memory serves.
In a vaguely similar rant, I’m firmly convinced that much of our newly minted caronavirus remote work force is going to migrate overseas too.
Casinos are investment banks at heart. Vehicles for money laundering. The casino caronavirus crisis brought to my attention the fact that Macau exists more as a laundromat than a gambling Mecca, for instance. Duh.
Money finds its way to Malta or the Caymans where a guy like you finds me some real estate and sets up an equity line of credit. Your boat has a Georgetown address.
Combine your two skills.
Meanwhile, that elderly looking towel boy at your country club may well be me the way things are going.
Good luck.
Last edited by Sanlmar; 12-09-2020 at 11:43 PM.
All those IB kids Krypt went to school with.... they are now consultants pitching how they will walk you through hiring foreign workers for your remote team.
You trained them. Maybe this is a niche.
Bourbon is nice, isn’t it?
oh shit
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
In the industry I was trained in (biotech) highly skilled, specialized jobs are going for $50-60k/yr. I can make almost the same doing Instacart. The globalists have won. The middle class is dead.
Like I said above - we are 12 years post Lehman Brothers. There is no money out there for banks and investment firms to make that isn’t tied to inflation. They are all filled with Ivy league MBA’s And they can’t figure out how to make money and “grow the business” without stealing it from some other bank only to have that bank come back on them with even lower fees. The only handle they have to pull, generally speaking, is to lay off people in high cost locations and replace them with low cost locations.
8 years ago my department had 150+ people making 100k+. We down to 15 tops and 200 people in India. The 15 people do as much work as the indians.
They don’t care. The guys at the top want the 8 figure bonus so no more 175K a year jobs.
Someone just posted this.oh shit
If the last decade were your formative years what are you to think?
Even before Covid rate cuts and de facto quantitative easing (aka “repo” - it’s all the same) were still the rage. MMT.
They are no smarter than anyone else. The ghost of Greenspan still haunts me. No one knows shit. It’s a continuing experiment.
I used to daytrade AMZN. Why would I want to hold? I want to puke. These are my thoughts today.
https://www.autoexpress.co.uk/news/3...emoved-reality
either they are going to offer rebates/incentives and nio / tsla are going to fucking explode, or i strongly suspect something else might happen.
DONT GET SHUT OUT
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
So Las Vegas real estate is breaking records while the casinos are essentially closed. This has been kicking my ass.
Here is an example that helps solve the riddle
Pinterest pays $89.5 million to terminate San Francisco office lease
https://www.sfgate.com/business/arti...e-15525421.php
Holy fuck.
Pinterest sets their employees free via remote.
Where do extremely well paid employees want to live? How about some place tax free? If you’re young Vegas ticks a lot of additional boxes. Las Vegas is the #1 destination for those fleeing that shithole, S.F., and it’s not close.
Rents are down 30% in S.F.
This is just one California example. Man, was I wrong in March about Vegas real estate. There are obviously other unexpected Vegas trends that spin out of this.
Hmmm
Vegas is binary. Single family homes records. Apts & condos are a disaster. ��87% collection. That’ll be worse in December as forebearance and Xmas spending converge. I won’t pay but I’m buying presents. What are they gonna do to me?
20% unemployment is like the county’s worst.
The Palms Tower. Delinquencies are so bad no one will write a mortgage there.
Rates go up and a few Vegas summers under your belt and the bubble will deflate. I still have ideas about the remote trend too.
Interested in your remote trend ideas as it’s a fascinating subplot to watch play out in this Covid era. The poorly mismanaged over-levered REITs are going to get destroyed. Total carnage. The well managed ones are going to be buying up prime commercial real estate for pennies on the dollar.
You may be talking strictly residential which although correlated isn’t the same thing. I’m super fascinated by that market as well. Anecdotally I know several people that have left the city to move to the suburbs during this year as well. Some for more space, home office, don’t need to commute etc. Some to get away from the protests. You’d think these trends would have to have an impact on city housing prices right? Demand is still through the roof. The intown housing supply just isn’t there. Is there just going to be a lag? I really don’t know.
Obviously this is going to vary market to market quite a bit. SF is not Austin or Vegas or Nashville. But overall there should be some trends that have real tangible pricing impacts and are identifiable right?
In Montana the locals are being priced out of the housing market. It used to be that maybe a third of homes were sold to out-of-staters. In 2020 that figure has doubled to two-thirds. Homes are going to the highest bidder and being sold site-unseen, inspections being waived. Mostly Californians. The same thing is happening in Idaho. I have a friend there whose 200K home nine years ago is now worth 650K.
POKER FAG ALERT! FOR BLOW JOB SEE SLOPPY JOE THE TRANNIE HO.
so correct me if im wrong but we are going to see like a 60 point jump in spooz the day stim hits followed by an honest to god 20-30%+ drop over the course of winter/spring due to c19, lockdowns, etc etc, yes yes?
like we are actually going to have a bear phase for real?
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
More importantly, are employers going to offset these savings(no rent, no team outings, no amenities in the office) with a salary increase for their workers?
If these fuckers think I am going to pay for workspace, supplies and a room to work out of while they pay me the same pre-covid, they can just go scratch.
35% of all US dollars in existence have been printed in the last 10 months.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
Buffet’s boss Charlie Munger. We want to know what he’s thinking
https://www.msn.com/en-us/money/savi...es/ar-BB1bVv6t
Buffet’s boss Charlie Munger. We want to know what he’s thinking
https://www.msn.com/en-us/money/savi...es/ar-BB1bVv6t
Buffet’s boss Charlie Munger. We want to know what he’s thinking
https://www.msn.com/en-us/money/savi...es/ar-BB1bVv6t
theres a great munger parable in the jim simons biography and unfortunately for us all, i have forgotten it.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
I can’t give ya anything on Munger. I actually don’t know his story. That omission just occurred to me.
theres a great munger parable in the jim simons biography and unfortunately for us all, i have forgotten it.
Buffet got his start and inspiration printing tip sheets at the horse race track as a pimply yute.
Mother of god, I still haven’t read that biography. It is frequently referred to by you. Made an impression obv.
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