Monday, October 28, 2013

Monday's Child

1.  Oh, man, I forgot to rent out the wedding hall.  She's gonna be MAD!  I know!  BOMB THREAT!  That'll save my bacon.  (If you are unmarried, this may seem implausible.  But imagine this:  "Did you remember to get the milk?"  [Husband hangs head, shuffles, mutters]  Wife:  "BOOM!"  So a bomb may not have been entirely out of line, given the answer to "Did you remember to rent out the wedding hall?"]

2.  Scott de Marchi's new favorite school.  Of course, Scott is actually "Wally," so he may not be around much anyway.

3.  The Joker costume was a nice touch. Pretty early for a Halloween party, though.  Are you sure that was a costume?  AAAIIIEEEEE!  The real Joker!  In Maine.

4.  Gravestone kerfuffle.  Sponge-Bob?  I guess the headstone has square pants, but....

5.  At least he was nice enough to shave it.

6.  We're not monitoring your calls.  No, really.  Ya gotta like Ron Wyden.

7.  Eight things no one will miss when marijuana is legalized.

8.  Whenever some smug, clueless lefty (but I repeat myself...) gives me that silly challenge, "Can you name even ONE country that has tried your so-called market solution?" I always say, "Sure.  Sweden."  And here's why.

9.  My student Amy McKay on money, lobbying, and policy.

10.  You want a "war against women"?  Here's your war against women:  the state arrested her, handcuffed her, and put on ankle shackles.  Because she was NOT taking a drug.

11.  "There are WMDs in Iraq."  "You can keep the insurance you have."  Presidents lie; it's what they are elected to do.

12.  Don't worry; get older....

13.  Pepsi, Cheerwine, powered heavier than air flight, Fed income proud of NC!

14.  Hitler learns of problems with Obamacare roll-out.  (Next up:  Hitler actually reads the "obstruction" rule, and stops saying stupid s**t about whether Middlebrooks moved his legs, which is completely irrelevant. The best thing I've seen on it.  Intent. Does. Not. MATTER.  Shut up about the legs already.  The Sawx lost because they made a little-league quality throwing error.  Not because of a bad call.)

15.  Hey, stop harvesting weeds from my property!  The bizarre sense of entitlement of urban locavores.

16.  A new corporate form you may never have heard of:  MLPs, or Master Limited Partnerships

17.  Why do ladies like the bad boys?  An interesting answer...It's a mistake.  But the ladies can't help themselves.

18.  Bienvenido a la Nueva York de Caracas!

19. Squirrel vandalizes prof's bike in Iowa.  Skippy....kill!   Skippy likes squirrels....with a nice chianti and some fava beans.

20.  Gonna DRIVE now!  Gonna drive now....

21.  I have witnessed this conversation, verbatim, when the LMM g-chats with the YYM.  VER.BAT.IM.

22.  A bra that tweets.  No, not that makes a noise, though that would be cool.  A "second base" signal.

23.  To fix ACA website, we'll just hire the company that broke the ACA website.  After all, they know the most about the problems, right?  Some commentary.  


Jeff said...

I thought The Economist had better reports than that. The article on MLP's is seriously flawed.

"In a complex set-up based around a pass-through entity, the views of the “limited partners”—investors—matter little. Their contracts give management a much freer hand than in familiar corporations, where government regulation grants shareholders a lot of rights. And those who invest in distorporations do pretty well out of the deal. Shareholders, or to be more precise “unit holders”, have received dividends double or triple the market average."

Got that? MLP's are bad, because the general partner makes the big money and the poor limited partners, lacking the rights of traditional shareholders, get stuck with a mere pittance: "dividends double or triple the market average." How sad.

Then in the very next paragraph:

"Quirks in various investment and tax laws block or limit investing in pass-through structures by ordinary mutual funds, including the benchmark broad index funds, and by many institutions. The result is confusion and the exclusion of a large swathe of Americans from owning the companies hungriest for the capital the markets can provide, and thus from getting the best returns on offer."

So the real problem isn't that MLP's are bad/scary/market-distorting/tax-evading/criminal, it's that not everybody can invest in them. Which actually isn't true. I know this because less than a month ago I sunk a few grand I had left over from a new car purchase into two ETF's that invest in MLP's. Here's one:

Here's the other:

Two low cost index funds you can buy into with seven bucks and a Scottrade account. And all they do is buy scary,, I mean high-yielding MLP units. And that is just from one little asset management firm no one has ever heard of. In fact, there are DOZENS of such funds listed here:

The idea that ordinary people are shut out of investing in these types of companies is ludicrous if you do just a single google search for something like "MLP ETF."

Irascibli said...

You won't catch this Sox fan b----ing about Saturday night's call.

Hell of a thing, it is, when the ghost of Johnny Pesky screams to hold the ball.