In an effort to make you pay even more for your coffee, workers at Starbucks are finally beginning to unionize. I am assuming this breed of the Purple-Hair Gang has just found out what a union is because this is the least shocking news of all time. You are telling me that the 28-year olds who whip up Pink Drinks for a living need a union? What for? Talking about who did the most Peyote over the weekend and their love for AOC? Nonsense.
I like my coffee how I like my women, cheap. I order my coffee black because I need the closest thing to Cocaine there is and I still spend $4.23 on a Venti. These freaks like Jordan pictured above are the reason that my coffee will start to cost $5.00.
Credit to Howard Schultz for going into his toolbox and hiring a Chief Strategy Officer that has dedicated his career to, “empowering frontline employees to unlock their full potential in work and life” (Union Murderer). Employees are looking for higher wages and to, ” advocate for a larger voice in company operations.” If it were up to these people, they would open at 11AM and close at 1PM. Hey Jordan, shut up and pour me my cup of joe. I am sorry your degree in Lesbian Dance Theory did not pan out the way you expected.
This mixed in with the fact that no one wants to work these jobs to begin with is a recipe for disaster for $SBUX. My local Starbucks was closing at 1PM because they could not staff their store for months. This would never happen at Dunkin’.
Dunkin’ employees used to give the Starbucks employees swirlies in high school. Albeit, I would rather drink my own toilet water than getting a Large Iced Black from Dunks.
Admitting, “Maybe I should go to jail” on a recorded line will certainly never work in your favor.
Has Dan Kamensky ever seen Billions? For sure not. Kamensky launched Marble Ridge Capital, his hedge fund aimed at distressed financing in 2015 with $20 million, which is not that much for a guy who looks like half Prince William, half Winklevoss. In only a few years, he grew the firm to a point of managing nearly $1 billion. What Dan did pick up from Billions was an addiction to mental coaching, meditation, and a sleep specialist. This guy was a headcase.
So much of a headcase that he began buying an alarming amount of Neiman Marcus bonds in 2018. We all know how that went. What complicates the story is the fight for a German online site called MyTheresa, which Neiman acquired through its private equity ownership group, Ares Management. Well, Ares said not so fast, we will be taking that site back, leaving bond holders with nothing other than mediocre designer shoes and bags.
Lawsuits were launched, which in the world of distressed debt, are more common than Steve Cohen trading on insider information. Neiman ultimately caved, which gave half of MyTheresa to the company’s creditors. All were on board except for Kamensky, who believed they were still getting boned.
All of a sudden, COVID hits and Neiman is done trying to get you to test perfume and cologne. Marble Ridge’s fund fell 12% on the news. Look at that guy. He looks like someone who’s biggest adversity in life was deciding which target school his parents were going to bribe for his admission. Naturally, he has no quit. He joins the creditor’s committee to represent all creditors in the company’s bankruptcy. Kamensky wanted all the preferred shares of MyTheresa he could get his hands on, so he continued his fight for the right to acquire more of the site (Yes, that was poetic). He would then turn around and offer to buy the shares from other creditors that probably wanted to curbstomp him at this point.
Feeling comfortable, Kamensky was once again blindsided, this time by Jeffries, his longtime broker. They wanted a little taste of MyTheresa as well. This is where Kamensky loses his mind.
WSJ – At 3:20 that summer Friday afternoon, he texted Joe Femenia, his contact at Jefferies, “DO NOT SEND IN A BID.” In a phone call 20 minutes later with Mr. Femenia and Eric Geller, a Jefferies colleague, he yelled and cursed at the men, according to a Justice Department probe.Four hours after he made his threat, Mr. Kamensky called Mr. Femenia again. On the call, he pleaded with Mr. Femenia to tell a different story to authorities—that Mr. Kamensky wanted Jefferies to bid only if it was serious about going through with the deal. “I pray you tell them that this was a huge misunderstanding,” Mr. Kamensky said on the call, which was recorded by Mr. Femenia. He said he could go to jail without Mr. Femenia’s help.
And just like that, you get raided and cuffed at your Long Island home for extortion and bribery.
What a horrible way to go to prison. At least if you are trading on insider information or stealing your clients’ money, you become filthy rich (Not an endorsement, FBI and SEC, definitely do not do that). This guy felt a little tingle in his nuts and tried telling a global IB to not get in on the action. Six months in prison and a potential lifetime sussy from the investment industry is a tough deal for an even tougher guy.
If there is one thing you can learn here, it is that you never bet against Jeff Bezos. That guy will crucify your investments and likely your wife’s cervix.
Stay Poor People, or in the case of Dan Kamensky, do not drop the soap.
I almost spit out my coffee this morning reading the Journal. Banks to Companies: No More Deposits, Please. What a fucking title.
If you follow my twitter feed I have been clowning the Federal Reserve all year saying they have no grasp of monetary policy. Given the cost of money over the last twelve months, this was an obvious outcome. Meanwhile, you have Jerome Powell, a lawyer by trade, and many others of the Fed saying they see no signs of inflation. IMAGINE A BANK HAVING TOO MUCH CASH. That would be like Hunter Biden having too much Coke, almost impossible.
Do not get me started on that old bag Janet Yellen. Inflation will be transitory? Inflation is not transitory unless rates get jacked up more than Bill Gates after a trip to Epstein Island. Unless we burn half the cash thrown into circulation in the past year, we are going to see big time inflation. I was not a math major, but that is simply math.
What many thought would be a good year for the banks given a steepening yield curve has not come to fruition. Companies have no incentive to borrow from banks as they have turned to fundraising through equity and debt offerings.
The article highlighted Verizon, a company that is incapable of making a profit-generating investment. At the end of Q1, the company reported $10.2 billion in cash on its balance sheet. This amounted to a 45% YoY increase from Q1 2020. The article also mentions a quote from AT&T’s CFO stating that the company did not plan to look to use excess cash for investment purposes to find yield.
Just like that, I now own a room full of solid gold bricks. The second half might be very ugly in the market. A little inflation with low rates is great for the stock market. A lot of inflation and rising rates will make you sweat more than a priest at a Little League game.
Well, it looks like my Lamborghini of an education did not prepare me for the past year of the stock market. I mean, I did return 60% last year, but that is not important. What is important is that there are legitimate fucksticks that have 100x’d their wealth over an extremely short time frame.
Me, a capitalist, would never put someone down for making money. This is America, not AOC land. While I like making a mockery of the world of Finance on the Blog, my portfolio is strictly business. In B-School, we learned about investing in FCF generating company’s, managing risk, and identifying growth catalysts. Now, your local drug dealer is laundering money into his freshly created Robinhood account and trading meme stocks with leverage. Robinhood has enabled the, ‘No Ragrets Kid’ to also buy out of the money call options on top of these positions. Any good drug dealer knows that he has to diversify his portfolio. Maybe he sprinkled in a little DOGE and BTC into his AMC and GME portfolio. BOOM. You now have a couple hundred thousand of seemingly worthless securities.
According to CBOE global markets data (I am long $CBOE), traders spent $11.6 billion on options contracts tied to AMC, which was more than the SPDR S&P 500 ETF Trust, Invesco QQQ Trust and Tesla Inc. combined. I went back and forth with Katherine Ross, a contributor to Cramer’s media company, the Street. See thread below:
The movement in these stocks speaks volumes to how unstable our market can become. Highlighting these moves amplifies the stupidity behind them. The bigger the bubble becomes the more there is to lose for retail traders, which is why it should be looked down upon.
I do not expect traditional media to not cover these names, but I truly believe it exacerbates the problem. Katherine Ross would not be doing her job if she did not cover these names. But it begs the question, when does this shit show end? Gamestop Execs could not even justify a secondary offering in its first astronomical ascent. These businesses were shorted for a reason. Too much? Probably. That does not take away from the fact that they are failed business models.
The “we must fight the short selling hedge fund” narrative is so fucking lame. Wah, a guy in a Patagonia vest and Gucci loafers is making money when stocks go down. In case you have missed it, this is the chart of the S&P 500 over time:
The stock market will always fucking go up. Death, taxes, Michael Burry being a computer, and the stock market going up are my four certainties in life. These hedge funds shorting the tits off broken companies helps the market sort out what businesses should stick around. I had some crypto geek respond to me saying AMC is the common man’s instrument to fight against the raging criminal hedge funds. News flash my guy, your $100 in call options expiring this Friday is laying in my ashtray. I have spent far too long behind a Bloomberg Terminal and far too much on custom monogrammed socks to care about your mission.
I have never shorted a stock, but these guys have me dangerously close. Or at least close enough to go buy a ticket to a movie and sneak into other ones for an all day affair.
When I look myself in the mirror, I see the common man. The common man of a private business school where the average family income is in the 80th percentile.
Stay Poor People, that should not be too hard if you are long AMC and GME.
Full Disclosure: I fucking despise everything about Cryptocurrency and those who hold it. However, I am not going to dedicate this blog to bashing “currency” that fluctuates 5% per day and is set up as the biggest ponzi scheme in the history of the United States. Credit to me.
What I am interested in is the story of the ransomware attack on Colonial Pipeline. I am obsessed with stories of extortion. My town’s police department got hacked and it took the cops a week to decide whether or not they wanted to cough up the $500. Yes, I said that right. FIVE HUNDRED DOLLARS. If my phone or computer got hacked, I’d take out a second mortgage on command. So in the case of Colonial Pipeline, these Russian fuckers seriously had people paying out the ass for gas for a week! Not only that, they negotiated a fucking payday for themselves in the sum of 75 Bitcoin. At this time, 75 solid virtual coins totaled $4.4 million. I always wonder what stops the hackers from taking the money and not stopping the attack. If I had any ounce of computer engineering skills (Got an A in Python though), I would be running the attack like a Merry-Go-Round. “Oh you just paid me $4.4 million to stop? Yeah, I am going to need another $10 million.” At this point, is anyone really mad? The Russians have their money for god knows what they spend money on, I am done filling sandwich size Ziploc bags with gas, and Colonial Pipeline helped promote one of the best uses of cryptocurrency. Cue the FBI’s music.
I feel like every Finance undergrad had a crypto phase. I did, and the deeper I dove, the more skeptical/lost I became. I thought the whole point of decentralized finance was that it would be the Wild West. I pictured my crypto wallet like my butthole. NOBODY CAN GO NEAR THAT THING. However, that is not the case. The Federal Government proved that your crypto wallet is theirs, just like Jeffrey Epstein.
WSJ – On Monday investigators obtained a seizure warrant from a magistrate judge in northern California that enabled authorities working with Colonial Pipeline to capture the bitcoin from the virtual wallet linked to the hacking group. Law-enforcement officials often work with private-sector analysts who can track cryptocurrency transactions across public ledgers known as blockchains. By mapping clusters of virtual wallets and cross-referencing their transactions with intelligence about hacks, analysts say, they are able to reliably trace many ransom payments.
Are you fucking kidding me? It is that easy? These guys couldn’t even finish inside their hookers before 64 of 75 Bitcoin were taken back. One would think Colonial would be ecstatic over the news, right? Well, it just so happens that much of the world banded together to spark about a 40% sell off in Bitcoin over this time period. As I said before, “Currency.” This amounted to a $2.3 million payout of the original $4.4 million. If I am the CFO of Colonial Pipeline, I think I have no other option than jumping off a cliff. If I had the choice, I would send the payment and consciously never own nor look at the price of Bitcoin ever again in the off chance it goes to $1 million per coin. People will be talking about the time a guy bought two pizzas for 10,000 shitcoin and when a company in a dying industry gave some Russian dirtbags 75 coins a couple years before its massive ascent.
Sidenote: I am sure that El Salvador ruling Bitcoin as a legitimate currency will do wonders in fixing the country’s rampant corruption problems.
Slick Timmy Cook with an absolute curve ball. I am a sucker for all of Apple’s gimmicks but you have to know they just repackaged the iPhone 8’s that have collected more dust than my room since quarantine started. If you waited the iPhone 8 out two and a half years, you ultimately saved $50. I spend more time on my phone per week than a 16 year old girl who receives all of her self-esteem through Instagram likes. Last week, I averaged 8 hours and 10 minutes per day of screen time, so I think I qualify as an iPhone expert. The Wall Street Journal cites three reasons for people to want this phone: a traditional home button, smaller screen size, and the price point. In no way could someone ever argue a home button is better than the newer models’ Face ID. I fuck with an iPhone XS Max and that thing has unlimited screen space. You know what they say, “big hands, big iPhone.” I could never go back to peasant screen size. 4.7-inch screen size on this thing? Tough look. Like I said, I spend more time on my phone than my average sleep per day. If you told me I had to spend $2,000 for a phone that I will replace every two years, I’ll fucking do it. Apple claims this phone was given a better processor than older models. Cool, it has a faster processor than the old iPhone 8? I would certainly hope so. I am not a big technology specs guy, but a faster processor with the same battery life as the iPhone 8 (Apple Confirmed), means this thing will die faster than an aids patient in the 80’s. This phone also misses out on 5G connectivity, which is likely to be released late in 2020. When I get my iPhone 12 ProXSMaxExtendedScreenPro this fall, I will be flexing my 5G all over you poors.
What I can concede is that parents will be flocking to this phone for their younger kids. I cannot imagine how many pre-pubescent kids will be hounding their parents for one of these things. Kids these days have it way too easy. These little fuckers will never understand how annoying it was to carry both your phone and iPod around everywhere. Whether we had the Razor, Juke, enV2, or enV Touch, we always had our iPod Nano/Touch by our side. I distinctly remember being able to run a mile before the internet loaded on my enV Touch and I was slow as fuck. My first iPhone, the iPhone 4s, made me feel like I was on top of the world. I had to earn that fucking thing. I did my time scrambling to find Wifi for my iPod Touch to deserve 4G connection. Kids today run up their parents’ credit cards on Fortnite and have fucking iPhones. The world is changing for the worse. Kids who grow up making Tik Toks will be the new cool kids. Kids who play sports, pussies.
I am going to dumb this down a bit. Imagine you are at an amusement park and see one of the physics defying roller coasters. You sit in a line of sweaty little kids who have no sense of volume and are probably dripping their ice cream all over the place. You wait an hour to get to the front of the line and you see the relieved faces of families eagerly waiting to get the fuck off that ride. You know it sucks but you have committed way too much time to back out. This is where investors are in the market. No one truly knows what they are getting themselves into or if they will come out on the other side. What they do know is that they are in for a wild ride.
Earlier in 2020, the S&P 500 was trading comfortably above 3,300 and for now bottomed out in late March at 2,200. About a -33% drop in just over a month. Was that the bottom? To be honest no one really knows. Bill Ackman, founder of Pershing Square Capital Management and star of Netflix’s Betting on Zero, has flip flopped on this more than Caitlyn Jenner did with her gender. A flurry of banks reported Q1 earnings over the past day and are seeing declines of profits in the range of -45% to -89%. What a shame for the investment banks who amplified the financial crisis in 2008 to feel some hurt, you hate to see it. The energy sector currently resembles the ugly girl in high school who also had an equally bad personality. That girl is always a lose/lose situation. There is no demand and holds very little value. I am talking about oil prices, of course. Since we all are hunkered down and wearing the same pair of pants for a week straight, Consumer discretionary looks dryer than Kourtney Kardashian’s personality. Lastly, I cannot imagine there are any businesses looking for technology. As a country, I feel we treated Skype like a cheap hooker. Yeah, it gets the job done, but we want better. Now Microsoft is coming for Zoom’s ass.
What has been far more interesting is the relative strength the markets have shown over the past week. As the data gets worse and worse, the markets continue to recover. Now that the country is flush with Trump bucks, people will certainly go back to buying cars and houses. Amazon, Netflix, and Domino’s Pizza have been clear winners thus far in the pandemic. All you poors collecting government checks are keeping all three of these companies pumping. Amazon has taught us a real important lesson:
Amazon makes money in virtually every industry and is finding out they are recession proof. I can’t imagine much has changed at Domino’s. Still the same crack heads whipping up your $6 pizza that eventually costs $15. Coronavirus is nothing compared to the HEP-C that you will likely get from your medium pie. Netflix can thank that ole’ crazy bitch Carol Baskin.
Standardly Poor Capital recommends reaching out to your closest FOREX trader friend for advice in this time of uncertainty. For now, I am going to heat up a frozen pizza in my underwear and watch my long positions make me rich. They should resemble something to the effect of this chart:
WSJ – Jeans maker True Religion Apparel Inc. filed for bankruptcy for the second time in less than three years, saying it had no choice as government stay-at-home edicts shut down nonessential stores nationwide. The company filed for chapter 11 protection in the U.S. Bankruptcy Court in Wilmington, Del., on Monday, blaming liquidity constraints and the COVID-19 pandemic. True Religion, based in Manhattan Beach, Calif., has furloughed the bulk of its employees, according to court papers. The company said it “would have preferred to wait-out the current instabilities of the financial markets and retail industry generally,” but couldn’t afford to. The company plans to pursue either a sale or a reorganization and intends to decide between the two strategies in mid-May, according to court documents. The pandemic has forced the closure of the company’s 87 retail stores and its wholesale business, eliminating 80% of revenue and making a chapter 11 filing “unavoidable,” True Religion interim Chief Financial Officer Richard Lynch said in a sworn declaration.
What an absolute shame. To be completely honest I was not aware that True Religion had retail locations. True Religion has provided the opportunity for bums everywhere to overpay for jeans while also looking like a total asshole for 18 years. I feel like True Religion specifically sponsors the kids in high school who drop out to deal drugs full time. Their fit can be complemented by a Gucci belt that has a 20% chance of being real and a pair of Air Force 1’s. Let’s take a look at some of the brands best looks:
Absolute blasts from the past. Almost spit out my coffee when I saw Jon Gosselin from Jon & Kate Plus 8 absolutely dripping with the boot cut True Religion. With the discounts flying on the True Religion website right now, Pauly D is probably having a field day. Absolute nostalgia thinking about him fist pumping and yelling T-Shirt time with his equally as horrible graphic tees. These jeans defy any type of common sense and style. What I would like to know is what the company’s reasoning is for the price point. “Let’s just slap on a stitched horseshoe to customers’ (or lack thereof) ass cheeks and sell these suckers for $200.” Are they for rappers, trappers, or suburban wannabes of the previous two categories? No one really knows.
While the company has transitioned into this decade’s styles, the brand is a total laughing stock. Before, when they could afford to turn the lights on, they were charging $179.00 for these fucking things.
I do not want to see a company go under and people to lose their jobs, but these fucking idiots had it coming. True Religion already restructured its finances in 2017 and is again looking for protection again. Tough eat for TowerBrook Capital Partners who acquired the failing business in 2012. The company already has $140 million in debt and is looking to take on an additional $89 million to keep operations going.
The bigger picture here is how many fucking retail companies are going to face this reality. I pray to God the Gap does not follow suit. I just recently found the perfect style of pants for my frame at the Gap and I cannot afford to lose out on them. Fitting my Redwood legs into tapered pants is a harder task than trying to find people willing to wear True Religion.
Worst comes to worst, I am sure a PE firm will swoop in and take on that balance sheet to liquidate. My early guess is Paul DelVecchio Capital Management. One man’s trash is another man’s treasure and that is certainly the case here.
Stay poor people and especially TowerBrook Capital Partners
Remember that $2 trillion stimulus package that was inked just over two weeks ago? The one that is set to pay out $50 billion to the airlines. A measly $25 million in payroll assistance and another $25 billion in form of loans. Treasury Secretary, Steve Mnuchin, laid the hammer down and is forcing the airlines to repay 30% of the cash they recieve for payroll assistance and also offer stock warrants on 10% of the loan amount that can be converted to shares. Well, the cocksuckers running the airlines have a problem with that.
WSJ – “That surprised some airline industry officials who had believed the money would be in the form of grants, according to people familiar with those discussions. Airline executives spent the weekend discussing concerns with an industry trade group and seeking to negotiate adjustments to those conditions with the Treasury Department, federal officials and airline industry leaders said.“
Imagine an industry propped up on non-investment grade dog shit thinking they have the right to negotiate any type of terms. These guys are serial defaulters. The government money machine is practically on the verge of a red ring of death and they think Big Dick Mnuchin is just giving away free Trump bucks? How about the airline unions saying that because the Treasury is forcing corporations to repay some of the loans, it might be bad for the businesses. Do these people live in a fairytale land? No shit there will be layoffs and debt defaulted on. Here’s a thought, do not be over levered, it is that simple. If I take a loan out on my house that I cannot repay, it likely is not good for my financial stability.
The airlines are the kid at the family party who tells you they did not like your gift and we all know that kid fucking sucks. They are also your buddy who cannot hit you back for the venmo request because money is tight but then buys pot. No matter what, you will probably never get your money back. U.S. Airlines are down 50% Year to Date and that does not look like it will be changing anytime soon. Over the past five years the industry has declined at a compound annual growth rate of -10%. With dividends and share repurchases being halted in 2020 due to these loans, airlines are a pool of dogshit that even the biggest value investor would not touch. In fact, I would rather take Spirit for my next ten flights than invest in any of these money pits.
With that being said, what amazing timing COVID-19 is for Boeing engineers. An aircraft company that could not keep a plane in the air if it wanted to. Yeah, they probably will not be selling shit for over a year, but this must be so much better than putting paper airplanes with hundreds of people on board 30,000 feet in the air. The aviation engineers that could not catch a break in 2019 must be kicking their feet up and enjoying the lack of flights.
I’m no genius but it seems like these Airlines can take their loans, set aside the portion that is needed to be paid back to the government, and then have access to free money. I would like to reiterate I am no genius, just a dumb money investor trying to make it big.
1.) Making Money in the Stock Market: Whenever I have a good idea, it usually is followed by enormous losses. Those false senses of hope lead me to think I could actually make a career out of it. I might as well allocate all of my money to Bitcoin to expedite the losing process.
2.) Losing Money in the Stock Market: Self explanatory, it never stops.
3.) People Who Have no Sense of Urgency to Get From Point A to Point B: Any person who has ever had to navigate a city for their job knows that the serial phone users who clog up the sidewalks and subway stations need to be sent to the sun. This is especially true for the people who use phones going up stairs.
4.) Knowing You Did Not Get a Sufficient Wipe and Your Asshole is More Itchy Than The World’s Worst Case of Eczema: You are at work and the toilet paper runs out. You are at a friend’s house and do not want to rummage through cabinets to find a new roll. Do I call a co-worker and tell him I dropped a dirty steamer and need TP? Do I shoot my friend a text to ask for another roll? The answer is no. If my shit is so bad that I cannot make due with a reasonable amount of toilet paper (I check before all my shits) I’m not telling a fucking soul.
Because of this, my ass is subjected to torture that can only be replicated at Guantanamo Bay. Cleaning it is a job Mike Rowe would not even do. It is so bad that Gabrielle Union would not even get near that thing. This brings me to my point that if you are bartering off your toilet paper during this pandemic, you should be put in the COVID-19 ward of a hospital for 24 hours.
I woke up this morning and read the Wall Street Journal (Yes I can read and am professional as fuck). I jump to the business and finance section to see an article titled, “Still Can’t Buy Toilet Paper? You Can Barter for It.” Upon clicking, a picture of a little girl slinging boxes of girl scout cookies shows up. Usually, girl scout cookies would be on my list of things that make me irrationally happy, but today that is not the case.
Not only is this fucking girl hoarding the toilet paper, but she is also trying to make me blow up like a fucking balloon. I hope she gets cocky and throws in her family’s supply of TP into her cookie slinging ring, only to develop explosive diarrhea later. I’ll be sitting outside of that same store with every package of toilet paper left.
I was also fascinated by another story in the article :
WSJ – Edyta Pachowicz was on the phone last month with a friend who had been out of town and was desperately trying to find toilet paper. Ms. Pachowicz, a 45-year-old artist in Los Angeles, had a 12-pack, but considering the needs of herself and her little boy, she said, “I can give you one roll.” Her friend, Dalia MacPhee, hesitated for a moment, Ms. Pachowicz said, then made an offer: “Listen, here’s what I’m going to do. If I leave you with one roll, and you give me the rest, I’ll give you the dress.” Ms. MacPhee, 43, is a designer with her own clothing line, and Ms. Pachowicz said she had been trying for a few years to persuade her to give her a particular print dress, which retails for $100 to $120. So Ms. Pachowicz took the offer. “If worse comes to worst, in like two days, I’ll get more toilet paper, but I’ll have the dress forever,” she said. “She went down to the one roll, but she got this great dress,” Ms. MacPhee said. “It was a fair trade.”
Considering I have never seen Edyta Pachowicz and Danny Ainge in the same place, I am not ruling out that they are the same person. She at most spent $13 on that 12-pack. Pachowicz baited her with the one roll move and suckered MacPhee like Danny Ainge cucked the Nets. My favorite part of this exchange is the quote, “If worse comes to worst, in like two days, I’ll get more toilet paper, but I’ll have the dress forever.” It was almost as if MacPhee did not realize she herself could drive to a store and get toilet paper. Pachowicz outsmarted the barterer and for that reason I am irrationally happy.
Standardly Poor 