Comedian Stephen Colbert, host of the Late Show on CBS, twice flashed a Nazi salute on live television during a rant about US President Donald Trump earlier this week. During his first show after a two-week vacation, Colbert criticized Trump and his former chief strategist Steve Bannon, who resigned in mid-August.
Martin Shkreli is awaiting sentencing after being convicted on three out of eight counts of securities and wire fraud last month – charges that carry a maximum penalty of 20 years in federal prison. In the meantime, with legal bills from his trial piling up, the former pharmaceutical company CEO, who was once reportedly worth as much as $100 million, has decided to sell the only available copy of “Once Upon A Time In Shaolin,” the Wu-Tang Clan album he purchased for $2 million back in 2015.
Once upon a time, Disney used to be the hedge fund world's media darling. Not today, however, when at the BofA Media Communications Conference in New York, Disney CEO Bob Iger slashed the company's outlook and said earnings in 2017 will be "roughly in line" with last year, sending the stock tumbling as much as 3.9%.
August is over, which means that Eric Peters, the CIO of One River Asset Management, is back to doing what he is so very good at: distilling the week's events and latest financial and economic trends into pithy, one-paragraph aphorisms. Without further ado, here is an anecdotal excerpt from his latest weekend notes.
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Scary Movie
I love movies. Scary ones especially. Keep your happy endings, give me chainsaws. Meat hooks.
Authord by Joseph Salerno via The Mises Institute,
Paul Cantor, Clifton Waller Barrett Professor of English at the University of Virginia and Associated Scholar of the Mises Institute, attended Ludwig von Mises’s seminar at NYU as a young man.
He recently surprised and delighted a few of us by revealing that the line that he remembers Mises speaking most frequently in the seminar was “No farzer credit expansion!”