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Monthly Archives: July 2022
Winter Boot Liners
I found an original pair of Sorel Caribou, the standard issue winter boot, in a Thrift Shop in St. Augustine, Florida a few years back.
Great boots for winters out here in Utah.
However, the liners were dying – particularly the fur cuff.
Last winter, I searched and could not find Sorel branded replacements. Found some other options, but the compatibility was questionable.
Well, it appears July is a good time to search for winter boot liners. They are currently in stock at Sorel.
Mrs. SFTE said I should go with the black collar vs. the white. Know. Your. Audience.
The only question was my boots say size 9. They also say they were made in Canada. So I guessed they meant size 9 in U.K. sizing. Sorel’s run a bit big, but I am generally not a 9 in anything. So, I went with size 10 U.S., which corresponds to size 9 U.K. and size 43 in EU.
Back in business.
Pray for snow…
Maturity Schedule Tracker
Not saying that you should, but let’s assume that you might want to track maturity schedules as you termed out some cash – because rates on Treasury bills and notes are increasing much faster than bank rates.
You could use a little tracker like this.
At no cost. Enjoy.
Influential Reads – June 2022
“The best way for investors to learn from mistakes is to let others make them, then read about it.” – Scott Barlow in The Globe and Mail
A belated Happy Fourth of July…
Here are my most influential reads for the month – in no particular order:
- Bill Miller: An Investor’s Evolution (Part I) – “He found that the “source of excess return had little to do with pure accounting factors such as low p/e or low price-to-cash flow; it had to do with changes in the return on capital.””
- Time to Stop Believing Deficit Bullshit – “There is a rational middle between Zero deficits on one side and Modern Monetary Theorists on the other. We can fix our infrastructure, extend broadband to everyone throughout the country, even work to moderate climate change — and the economy will be just fine.”
- The Cantillon Effect: How the Rich Get Richer – “In other words, the “flow path” of the new money through a system matters.” SMS here: The flow path of money leaving the system probably matters too.
- House Money – “There has been an unfathomable amount of money made in crypto over the last decade. But it’s not the amount of money made that is most shocking. It is the velocity at which it occurred, and the age group that benefited most.”
- Where does the wealth go when asset prices go down? – “The short answer is: It didn’t “go” anywhere. It vanished. It stopped existing.”
- Selling to yourself: the private equity groups that buy companies they own – “At the heart of the deals is a broader issue that is becoming more significant as stock markets tumble. Companies owned by private equity groups are facing the same pressures as their listed peers, as interest rates rise, supply chains struggle and an economic downturn looms. Critics of the industry believe some of these deals could be a way of hiding from this reality.”
- One Experiment Ends and Another Begins – “So this is in no way unforeseen. The prediction in advance was that this behavior would provoke very high inflation. And the MMTers said “pshaw.” They were wrong, and that experiment is over. The next person who mentions MMT, you are entitled to run out of town on a rail.”
- Right answer to wrong question – “For the first time in the history of Park City skiing, the planning commission has said “no” to resort upgrades. A ski town saying “no” to more skiing is a turning point. “
- The Challenging Middle – “Be wary. This present cycle is so unusual – pandemic lockdown, fiscal stimulus, overdue wage increases, inflation spike, supply chain issues, ongoing global pandemic, and a Fed overreaction (even panic) – that prior cycles do not fit very neatly. “
- Fed Starts Experiment of Letting $8.9 Trillion Portfolio Shrink – “After doubling in size through asset purchases in the first two years of the pandemic, the balance sheet will be reduced at a pace that’s almost twice as fast as after the last financial crisis. While the process officially commences on Wednesday, the first US Treasury securities won’t run off until $15 billion mature on June 15.”
Note: This is based on when I read the article, not necessarily when it was first published. Unfortunately, my backlog of things I would like to read always seems to dwarf the amount of time I can devote to reading.
Top clicks across the site last month:
- Financial Model vs. Operating Model
- Operating Model Tips
- EBITDA Is Not A Good Proxy For Cash Flow
- Solamere Trail Loop