There’s a big downside to stocks though, potentially. There’s something called the equity premium. I won’t go into it, so…
Open Thread – Tues 3 May 2022
- Nuclear power and the foundational lie
- Open Thread – Anzac Day 2024
- Open Thread – Mon 22 April 2024
- Open Thread – Weekend 21 April 2024
- Open Thread – Thurs 18 April 2024
JC April 26, 2024 7:10 pm You really are full of FAT PIZZA.
hehehehe, that’s funny.
That’s a tell. You do not forget your service number. Mine is 282788. Engraved into the underside of my skull.…
JC April 26, 2024 7:10 pm Talking about money, Google reported this morning our time, and it was humdinger of…
Ask a similar question about the 1st and 2nd amendments.
the gp120 like sequences turn out to be right on the upper corners of the spike protein, which is where you would put them as they act as keys to immune cells. again what an amazing coincidence.
the fact that the “fact checkers” have jumped on this as conspiracy without actually looking at the sequences doesn’t exactly add detract from the claims.
the first paper that noticed this sequence was “redacted” in bizarre circumstances.
there is a fairly obvious push to discredit anything that points to the true origin and intent, which we know with almost certainty was gain of function funded by the US in wuhan. it’s all an absolutely fucking disgrace.
They have looked at the sequences. The sequences are not uncommon and found in many species. It is just another idiotic conspiracy theory.
https://www.reuters.com/article/uk-factcheck-hiv-covid-explained-idUSKBN29C26E
Put it this way.
My concerns are in negative territory.
You rang?
Michael Smith News has an infestation with the handle Michelle Two.
All the healthy young’ns that died of the jab before 14 days after having it, (which is when many did) were not recorded as death from the vaccine………..because in our post truth world, the vaccine that doesn’t work anyway, can’t kill you until it protects you from covid, (which takes 14 days to not work anyway)… Being inside you, giving you myocarditis and blood clots and making you ladies do the Jab Jive, doesn’t count, because although it’s inside you when it kills you, it hasn’t because it’s not protecting you yet….capiche’
The insanity is something to behold.
Pot pourri.
Na, sorry, I invented Pot Pourri.
You can go to the back of the class quoting Black rock fact checkers, John H.
Without any doubt the hottest , best looking , most beautiful , most feminine cabin crew in the whole wide universe are Thai Airways
What about SQ? Of course I’m completely unqualified to comment, flying anywhere is a dim memory.
U.S. Ministry of Truth Interrogates Man Who Shared Misinformation
The Babylon Bee
And the ugliest old hag crews in the world are Qantas.
Australian Ladies……….said together it’s almost an oxymoron these days.
She’s lying.
Bit of an over-simplification, IMO.
If you look at the history of modern medicine in the West, it’s always been patchy. There was no Golden Era of wise and caring doctors who gave excellent advice and treatment to everyone.
Our current set of problems are different from those in 1922 or 1822, but let’s not exaggerate. On the whole, we are still much better off in terms of medical care.
I do think that only the top academic students getting into medicine is unsustainable. These days, the money is not that good for the vast majority, they incur huge debts while studying, and many of them are temperamentally unsuited to the job. Something’s got to give. Plus, the bullying about what they can say and do is appalling.
As for the stomach ulcers example, it was indeed a heroic achievement, one of the greatest of last century. Full marks, kudos, etc.
But as even we who read this blog know, the world is full of people who claim that conventional medicine is all wrong and they have found the True Path. For every discovery about h. pylori, there were tens of thousands of true believers, cranks and charlatans insisting that they were being shut down by The Establishment.
I am not for a moment condoning the financial and professional blackmail currently being directed at doctors by funding and professional bodies. Not at all.
My point is that pressures on doctors to conform are not new. And, in earlier times, the lack of pressure on them to conform led to some truly awful outcomes.
Claiming that the medical profession has somehow fallen from a pedestal is neither correct or helpful.
Mak Siccar,
I was once told that engineers are fascinated by Morten By Fig trees since they shouldn’t be able to support the weight of the branches due to how big and how far sideways they extend. Bit like the Kardashians really.
She looks a lot like Trigglypuff.
Calli:
How would you police the “no veggies” stuff? Choko Squad?
If there’s one thing we’ve been shown in the last 2 years, it’s the presence of a coterie of 5th communists in our midst.
Either that or drones.
They don’t. The best sign up for maths and physics. I’ve taught them all. The medics were hard working and idealistic but not very bright.
A couple of century old Moreton Bay Figs have succumbed to gravity at UWA over the years. Takes a bit though.
Gee, that really is a leading statement. No wonder the results favour it.
Médecine rewards memory and algorithms apparently.
going to the source this is what they base the”debunking” on:
no obvious benefit indeed, unless of course you are experimenting with gain of function
Slavery was the law of the land even longer.
Rosie:
As usual, what ‘they’ are demanding is something for nothing.
No it wasn’t, Fester. Law of the land describes federal laws. The states allowed slavery and was argued on a states rights basis.
The discovery of settled law being found “wrong” is one of the primary criticisms of the common law but does allow it to change with the society it serves.
er …
totally trustworthy
why doesn’t fauci and his band of cretins come clean and show us what exactly wuhan was paid to work on?
There’s an excellent piece in the WSJ, which Dover suggested a couple of days, prints “rot”.
“Kneelsays:
May 5, 2022 at 4:27 pm”
Great comment Kneel.
Albo not reciting his six point NDS policy is exciting the press but I doubt it’ll sway voters.
The bloke’s fifty nine and the old grey cells are hardening off a bit. You could get an autistic kid to do a word perfect recall of War and Peace but they couldn’t tie their shoelaces.
The LNP think Albo blanks are a winner. I’m thinking it will backfire as ordinary folk don’t put much stock in a perfect performance.
Bidenese and the Laborcrats are still polling well.
I was once told that engineers are fascinated by Morten By Fig trees since they shouldn’t be able to support the weight of the branches due to how big and how far sideways they extend.
The house I grew up in had two huge morten bay figs. Sadly not very good for climbing. The branches are egg cross section with point up, when you look at them casually you think you will be able to just walk along the branches with ease.
Very pruneable with a shotgun. But be ready to step aside, you can bring down massive branches with a couple of shots.
Mongistan Public Transport Mask Compliance?
Today’s Mask Compliance Rating:
High to moderately high.
Have you seen those in the Botanical Gardens? They aren’t trees, they’re freaking mountains. The trunks are a city block wide!
why doesn’t fauci and his band of cretins come clean and show us what exactly wuhan was paid to work on?
The psychopathic little turd would get to Ride The Lightning?
The trunks are a city block wide!
Yep, massive! We had more fun playing tag on the roots than anything else. Pretty fast growing to, there was a photo of the house circa 1908 that showed them as saplings.
sfw:
Scary as shit, isn’t it?
I was wrong speculating the SCOTUS leak was possibly a hoax, however I also speculated that if it was a real leak it could very likely have been Roberts. He could very well have leaked because he’s fearful negating Roe could wreck the republic and wanted the judges to be aware their decision/vote has very big ramifications.
I’m not looking at this as an ruling on abortion but more so to right a terrible decision that was made decades ago. Abortion is not going away as the decision will head back to the states.
The LNP think Albo blanks are a winner. I’m thinking it will backfire as ordinary folk don’t put much stock in a perfect performance.
The LNP is a Queensland Party, only Labor shills use that term for the Liberal Party.
Your assertion is tripe.
What the Press is pointing out to readers and viewers is that Albanese doesn’t have a clue now, so he won’t have a clue as Prime Minister either.
Albo not reciting his six point NDS policy is exciting the press but I doubt it’ll sway voters.
Some journo should take the piss and ask him about his seven point NDIS plan. Just to see that look of terror and confusion flash across his pudgy rat like clock.
Is Harris the VP still alive?
I’d hate for news of her unwellness passing me by.
The leak most likely constitutes an obstruction of justice; I very much doubt Roberts could be so stupid.
A child of the 50’s (late 40’s, tbh) I gladly ate everything that was put on my plate… except chokos.
If you’ve never tried them, take my advice. Don’t. The name says it all.
A chronic battler, Father grew all of our veges. None flourished more than the choko vine grown over the shed. I cried every time they appeared on my plate. Tasteless, gelatinous gobs of snot.
Mother, a wanting chop-and-three-veg chef, boiled the worthless life out of them, managing to make them even more disgusting than God intended them to be.
I shudder to think of them.
Bidenese and the Laborcrats are still polling well.
If Labor are doing so well, why are they trying to sneak in the BackDoor via the Teal Independents?
Isn’t teal a shade of green?
they needed something to fire up the base after the relentless dumpster fire of the last 14 months, it was probably commissioned, just like the dossier
A chronic battler, Father grew all of our veges. None flourished more than the choko vine grown over the shed. I cried every time they appeared on my plate. Tasteless, gelatinous gobs of snot.
As kids we loved staying at my grandparents, the only down side was having to eat choko’s! Lots of them!
Your assertion is tripe.
Eat up you’re tripe Ed.
Our interest in politics and world events is the minority.
Most people don’t take any notice of the election campaign until the Saturday dawns and they make a choice.
Then it’s about money in the pocket and who gives them the least shits.
Chokos are first cousins of brusil sprouts.
Roger
Roberts is a RINO through and through. It wouldn’t surprise me because he’s shown before that in a dog fight the fucker veers left without a shadow of concern. As I said, I think it was Roberts because he’s concerned that a majority against Roe could destroy the country. It’s not what you, I or others think. Personally, I think it wouldn’t happen as abortion is not going to be outlawed in the country. He may have well leaked for the reason I suggested.
No doubt, and not without some justification; but the TV people also think they’re entertaining, which is the business they’re in.
I’m grateful never having to have chocked over choko.
Over-boiled cabbage and cauliflower was more than enough.
Chokos a wax and water that comes in a green bag. Horrible. Someone told me that MacDonald’s apple pies are just chokos with apple sauce. Too good not to be true.
Zip
The leak first and foremost an attempt to change the vote.
It says a lot about the worth of boiled cabbage that the Brits consider it a staple.
It’s a legal underling, JC, and the investigation will hopefully bring them to light.
Why can’t a bloke buy a reversing camera which is powered off your ciggie lighter, and Bluetooths its camera signal to the dinky little screen?
For about $100.
Some things in life are just not fair.
In all likelihood, chokos and boiled cabbage are responsible for shit life expectancy in the Middle Ages.
Some journo should ask Albo to find the Solomon islands on a map….that would be funny.
“I’m not looking at this as an ruling on abortion but more so to right a terrible decision that was made decades ago. Abortion is not going away as the decision will head back to the states.”
Yep. Earlier Kneel wrote a good comment about it too. Abortion is not going away. It will hand the matter back to the states.
I’d like to wake up tomorrow to a world with no abortion, no war, no prostitution, no rape, no violence, no murder and none of the other horrors caused by man but sadly I wake up to the real world…..which is not pretty.
The Delaware computer repairman who exposed Hunter Biden’s laptop has filed a multimillion-dollar defamation suit against Democratic Representative Adam Schiff, CNN, the Daily Beast and Politico.
Is there any meaningful sanction that would apply if they ever do find out one of the justices leaked though. Nobody ever seems to suffer any consequences in the political realm.
If it’s Roberts or any of the other justices – besides Sotomayor – I’ll eat my hat.
It’s awful out there…
No one is civil anymore…
Well Arthur, it’s only going to get worse.
If Australian public debt to GDP hits 150% and the sovereign bond rate goes to 7%, the debt servicing cost will be 10.5% of GDP.
That is possibly debt we can never repay and living standards would need to take a hit each year for decades to pay it off, nominally; take into account per capita living standards.
We will have generations of workers working to become poorer and poorer and poorer.
People don’t want spending or *services* cuts, where does the money come from?
Out of the 11.5 mn or so workers, how many of them are in the private sector? It’s not as if we have low tax rates.
I have a great fear that retirement savings will be expropriated. The case law is already there, your superannuation is not your money, it is a fund of tax the government lets you partially control and benefit from.
It is taxes held in trust and you are not the supervisory trustee.
We are heading towards literal Banana Republic stuff here. No joke, this is worth worrying about.
Is it expensive?
Too good not to be true.
Those random tasteless cubes explained!
Just watched on Fetch – Edge Sport Goodwood Festival of Speed Future Lab Show 2021
Worth Watching 45 Min 50 Secs – Amazing Concepts
https://www.edgesport.com/goodwood-festival-of-speed-2021/goodwood-future-lab-show-2021/
When idiots get to make laws:
The ACT Legislative Assembly has passed new reforms of sexual consent laws in the ACT this afternoon, as amendments are made to define what is and is not accepted as a form of consent.
The Crimes (Consent) Amendment Bill 2022 recognises that consent is not to be presumed and that people have a right to choose to participate in sexual activity.
Attorney-General Shane Rattenbury said by reinforcing what consent looks and sounds like, it changes the “status quo” when people engage in sexual activity.
“No longer are we presuming that a person is consenting unless they indicate they are not,” Mr Rattenbury said.
“The Bill delivers on recommendation 22 of the SAPRP Steering Committee’s Final Report by introducing an affirmative and communicative model of consent in the ACT.”
“Law reform, like the changes in this Private Member’s Bill, are critical. However, they are just one part of the work that is needed to prevent and better respond to sexual violence.”
Human hsp 60 is 50%+ homologous with bacterial hsp60 proteins. The above analysis ignores evolution. In my view they did that deliberately because no person familiar with genetics could be that ignorant. They are more interested in politics than science.
Not only rot. It’s a good article but if this decision pans out it’s still only the end of Phase 1. Phase 2 of Operation Cope and Seethe will involve establishing the argument that bans abortion at the state level, while Phase 3 is a federal ban on abortion. Phase 3 will need something more than Originalism and therefore a reconstituted conservative legal movement.
We are heading towards literal Banana Republic stuff here. No joke, this is worth worrying about.
Gold, Guns and Offshore!
Oh yes; it’s not a snap back, to be sure.
Mrs D’s stepmum did a great apple pie that was 50% choko, bit of cinnamon you would never know.
“No longer are we presuming that a person is consenting unless they indicate they are not,”
JP’s at nightclub and bar exits?
From Tasmania.
Like zucchini,they should be grown and fed to something more tasty or composted and used to grow something more tasty.
The really worrying thing is this: so is the rest of the world.
Germany’s public debt is about twice ours as a percentage of their GDP.
Dot….Total debt held by Australian governments will more than double from pre-pandemic levels to a record $2 trillion, and peak above 80 per cent of gross domestic product by 2024-25, according to global investment bank UBS.
Federal, state and local government deficits will be $193 billion, or 9 per cent of GDP in 2021-22, moving into the post-COVID-19 economic recovery phase, down from $263 billion or 12.8 per cent of GDP in 2020-21.
From the Fin Review
Dot
They don’t need to “expropriate”. All they need to not to “expropriate” expropriate is to raise the tax on Super with higher scales the more there’s in there.
Is there any meaningful sanction that would apply if they ever do find out one of the justices leaked though
Sure, begin Impeachment Proceedings, the leaky Jurist will resign.
Repubs did that to Abe Fortas, a Mafia connected lawyer appointed by LBJ.
BBQ them sliced thin they are nice or add them to apple pie or rhubarb, quite good
Si. Argentina, only you can’t afford the steaks.
Born in 56, grew up in the northern suburbs of Melbourne, had country farmers as cousins and I had never heard of a choko until a few years back. Is it a NSW thing? We did have chokawogs but that was another time.
Ideas for kids names in a Biden golden age:
Person of Interest
Amazon Tinder
Khaeilee Genna
Rebel Comanchero
Big Guy
The probability of each of these existing is > 0, sadly.
If nominal GDP grows at 5.5% over the next 30 years, we go from A$1.4 trillion dollars (present day) to A$6 trillion in nominal dollars. The federal debt, which is currently around A$1 trillion will be 16% of GDP. It’s doable.
It’s doable without a dollar in repayment.
Bolt on fire, ripping the SFL party a new one. He made a monkey of Josh Recessionberg.
Credlin before that had an excellent segment on banks not lending & insurance companies refusing to insure.
If they keep this up, I may shake the piggy bank & spring for a subscription.
Only place I ever saw chokos was QLD, growing wild in the suburbs like pestilent interlopers. They do not appear in the shops.
Get your hand off it. How many of the ‘best’ students sign up for maths and physics against medicine? Indeed, the brightest ones often prefer philosophy.
The fact is, it’s a bit like De Beers promoting diamonds. For some reason, it has become Holy Writ that your GP should be in the top 2% or whatever it is of examinees. Since complicated cases get handed to specialists, this is nonsense.
NSW & QLD. Prefer a sub-tropical climate and not so much farmed as grown in backyards and Chinese market gardens in days of yore.
Doncha know it is her turn!
Government is not about improving the lot of Australians, it is about her turn at a trough.
Bluddee hell – I’ve just watched the footage of Albansleazey blundering around like a rabbit in the headlights trying to remember his six point point plan for the NDIS while a pack of j’ismists are baying for his blood. After being made to look like a complete dunce earlier that day by a breakfast TV host.
If that isn’t his GST cake moment of this campaign, then it’s very close. Unless there are even more disasters in store, which wouldn’t surprise at all.
If he wasn’t such an evil stupid loathsome hypocrite, you’d almost feel sorry for him.
Grew up in working class parts of Sydney, some semi-rural. The choko vine was common, although rarely eaten. I gather it is like tofu, not much flavour.
Much preferred were the also common passionfruit vines. Mmm.
Kumanjayi Walker’s family calls for Zach Rolfe ‘retrial’, defunding of NT Police
THE community of slain Yuendumu teenager, Kumanjayi Walker, is calling for NT Police to be “defunded at large”, following Zach Rolfe’s acquittal over the 19-year-old’s death.
In a lengthy “list of demands” issued on Thursday, the Warlpiri Nation also called for a ban on police carrying guns and “only Warlpiri governance and authority in our community”.
In the statement, the group condemned a recent $10m cash injection for NT Police, saying funding should instead be directed to “community-controlled alternatives, like night patrols and community mediation”.
“We will not tolerate any further ex-military postings or external police units from elsewhere in the NT or Australia,” it reads.
“Only First Nations police liaison officers, elders and our community should have decision making powers over policing.
“This includes being able to evict police who do not co-operate with local community or respect our decision making authority.”
Other demands include for customary law to be “considered in all court processes and in the application of colonial law”, as well as an independent investigation into Rolfe’s trial.
“We saw a jury with no Aboriginal person on it,” it reads.
“There was no consideration of our cultural needs or our customary law. The trial should have taken place in Mparntwe Alice Springs, not 1500km away. We were unheard and disrespected.”
The group has demanded a “retrial” to allow Rolfe “to face our customary law at Yuendumu”.
Senior Warlpiri elder, Ned Jampijinpa Hargraves, said “more funding for police means more police violence against our people”.
“The NT government has no shame increasing the police budget after the fatal police shooting of our loved one, Kumanjayi Walker,” he said.
“This funding increase is a direct threat to our lives in our community. Yapakurlangu Warnkaru Matters, Black Lives Matter!”
The group is also calling for “an end to youth detention” that sees children as young as 10 years old locked up for “minor things” and “abused by the system”.
The group is planning a “national day of action” for June 18 “to demand justice for Walker, justice for the many deaths of First Nations people in custody, an end to the discriminatory Intervention powers and reassertion of community control”.
“We want other First Nations families, communities and supporters to join us in protest again, amplify our voices and put forward your own demands for justice,” the statement reads.
“Let’s come out in big numbers and build collective power together to force change.”
The group issued a further public demand for the NT government to hold an urgent community cabinet meeting at Yuendumu after claiming to have received no response to a letter sent late last month.
NT News
Pro Ukraine vandals desecrate War Graves at the Nijmegen Cemetery in Netherlands.
There’s nothing like the scent of ministerial leather to get the nostrils of a career politician flaring so they can suck it all in.
Doc Faustus:
Not for the poor bloody foetus, it isn’t.
Very interesting thread on Putin:
Rejecting that claim, Rehnquist wrote that unenumerated rights are protected by the Due Process Clause only if they are “deeply rooted in this Nation’s history and tradition” and “implicit in the concept of ordered liberty.”
Ordered liberty is my approach to life. You can’t have liberty without and ordered structure under-pining it. Without that structure you have anarchy.
One other thing about abortion is it is a slippery slope now culminating in such things as post live delivery death and assisted suicide. The left are fucking monsters.
I had a bright maths student drop out after second year to transfer to medicine because his mum wanted it. He came back a year later, saying it was boring. “Like memorising the phone book”.
I’m not saying medics are dim. They’re much brighter than pubic serpents. But not as bright as mathematicians or physicists.
Bill Cosby was unavailable for comment at the time of publication
Chokos are pretty good, the downside is that it’s gotta be peeled and cored before boiling, since the skin is bitter.
In the Australia that began disappearing 2 generations ago [1962]
plenty of inner city backyards had chooks, most had at least a lemon tree
and Bauple Nut trees were grown in the front yard for privacy.
Mulberry trees weren’t uncommon, many houses in Qld had a mango tree in the backyard.
In Colonial times, Tamarind trees were planted along streets, Dornoch Terrace Highgate Hill and George St Rockhampton still have them.
This is good.
The decision being the leaked Supreme Court ruling.
sfwsays:
May 5, 2022 at 6:57 pm
Born in 56, grew up in the northern suburbs of Melbourne, had country farmers as cousins and I had never heard of a choko until a few years back. Is it a NSW thing? We did have chokawogs but that was another time.
Grew up in Cremorne Sydney in 50s, and Choko vines in backyard – hated the things
Medics are in the top 2%. Mathematicians in the top one tenth of a percent.
Yeah, Putin was a protege of Boris Yeltsin.
The MainScreamMedia aren’t right about much, but they’re right about Putin being no good.
Has the FBI been called in to investigate the leak?
To the sound of much self righteous outrage from his alleged parliamentary colleagues.
In the meantime Groundhog Guy has decided the Victorian gliberals are now in favour of a treaty with fauxborigines.
Could that pack of useless unprincipled jellyfish sink any lower?
IF you get to managing the problem early enough.
Sci fi movie I saw a few years ago had a couple who hooked up in a disco engaging lawyers on the spot to draw a contract listing the agreed sexual acts to be engaged in when they went home.
We seem to be heading along that path.Thank christ I am still married and ancient.
Sorry this is late.
https://medium.com/the-no%C3%B6sphere/why-men-still-see-the-world-as-their-realm-and-are-reluctant-to-allow-women-in-b74e9f442e1e
Why Men Still See the World As Their Realm and Are Reluctant to Allow Women In?
To the privileged, equality feels like oppression
————————
She wrote that unironically.
How many more advantages in life must women be given before their preferential treatment finally makes them “equal”?
Feminists will tell you they aren’t equal yet, despite being awesome in a can.
The reality is, women have more rights then men, and have for quite some time. Who was put in National Service? Who gets preference going to ADFA? Who can dodge deployment via pregnancy? Who benefits from BFAs being toothless in family law?
Anyway, some SIMPs think she will suck them off by agreeing with her, also, some loopy cat lady quoted Margaret Atwood for something other than hilarious mockery.
Seriously, every possible iota of paranoia must be quantified by these lunatic feminists.
They are useful idiots who will bring on Marxism to usher in their alien, insane idea to make everything equal, even if most women aren’t interested in winning awards for abstract underwater welding sculptures.
Cherry 2000. Great, great movie.
“Just get a doll”
(H/T TFM)
“Could that pack of useless unprincipled jellyfish sink any lower?”
Nope.
“In the meantime Groundhog Guy has decided the Victorian gliberals are now in favour of a treaty with fauxborigines.”
Remind me again, what is the point of voting Liberal in Victoria?
Big Nambas:
Perhaps if India started charging for their power, they’d have a bit of money to upgrade their transmission system.
They get to Australia and think the same system applies here.
https://medium.com/hello-love/now-that-roe-v-wade-is-going-away-heres-what-women-can-do-9212b2cec2a4
Ossiana Tepfenhart
7.7K Followers
I’m a weirdo who loves to write. Deal with it. Available for hire. Instagram @ossiana.makes.content
YES. YOU CERTAINLY ARE, LADY WITH PENIS AND WHO DEMANDS ABORTION RIGHTS.
I wonder why that is.
Okay. I want a wife who doesn’t want to abort my children. This is an amicable separation.
J.C.
The final result will show us who among the USSC can be bullied.
I keep asking people what if Putin is the moderate? That thread make it sound like he is.
Cannon-Brookes shows climate investors need to buy coal to kill it
Too many ESG investors have done the Wall Street walk, and so all they’re left to do is talk the talk, as AGL’s fate is decided. Mike Cannon-Brookes took the opposite approach.
Jonathan ShapiroSenior reporter
Updated May 5, 2022 – 2.02pm,
first published at 1.54pm
Here is something almost no one would have predicted: Mike Cannon-Brookes, the software billionaire and climate activist reviving his play for AGL Energy, this time on his own.
He controls the equivalent of 11.3 per cent of AGL, the lumbering carbon-emitting underperformer of Australia’s sharemarket.
Perhaps it’s just the latest example of a billionaire rotating out of growth stocks into value (as Elon Musk is doing by funding his buy into Twitter by reducing his Tesla holding).
As Cannon-Brookes hits the phones to muster support for his activism, as he has relentlessly done since his investment was revealed, he is inadvertently highlighting one of the biggest dilemmas of the environmental, social and governance (ESG) movement: to divest or to engage? Cannon-Brookes chose to engage, but he is arguably in the minority.
It’s a fierce debate that has levelled some awkward truths at the pioneers in this space, such as the goliath of sovereign wealth funds, Norges Bank.
Is it better for an investor to divest (sell out) of a company that doesn’t meet its values or vision for the future, or, to remain invested and exercise their views as shareholders by voting down resolutions, and pushing for change in the boardroom, management and strategy?
If all goes to plan, Cannon-Brookes will own more than 10 percent of AGL within a few weeks. That’s not a very carbon neutral position. But with that stake he will wage some influence over the direction of the company, including the timeline in which it shuts down coal-fired generation.
Wall Street has walked
The other reality is that no super funds or sovereign wealth funds are direct investors in AGL.
They have all chosen to divest direct investments in AGL equity and with that ceded any say on the direction of the company. That leaves a register dominated by index funds and retail shareholders, who, judging by the share trading volumes, appear largely apathetic to the cause.
The index funds are now able to exert influence. Since they’ve accepted they can’t do the Wall Street walk (selling something they don’t like) they have scaled up their governance functions to make informed calls on precisely these types of events.
In Cannon-Brookes’ favour is that the planned demerger may mean divestment for some index funds (although both split entities should squeeze in to the top 200 index.)
So at the margin, they’ll be more open to the prospect of voting down the proposed split.
In theory, mass divestment of companies such as AGL means those that remain, or buy in, have different motivations to those that have sold out.
Others, like fast-growing ESG focused Future Super, are left rather feebly to cheer on Cannon-Brookes from the sidelines, assuming they stick to their divestment policies.
Confronting realities
The trade-off between divesting and engagement is not new. In November 2015 on a visit to Australia, Norges Bank’s Martin Skancke explained that the decarbonisation of one investment portfolio simply led to the recarbonisation of another.
“A more direct approach is to look at the investment capacity of fossil fuel companies; their capital structure and dividend policy,” he said.
“Investors have started asking fossil fuel companies to stress test their investment opportunities against climate scenarios. A next step is to get their money in dividends, so they can reinvest in something else.”
At the same event, then-head of NZ Super, Adrian Orr, made a similar point that “chopping off coal at the end of our portfolio” would not change the industry.
“You will make a bigger difference transforming the energy industry within the current MSCI [global index].”
But it seems divestment is an easier sell to constituents, and so most big funds eventually opt for divestment.
As ESG becomes mainstream, these sorts of unintended realities are going to have to be confronted. Another is that not every investor buys into the movement.
“We have many clients who would think ESG is a flawed relative concept and would not consider that an appropriate lens from which to view their portfolio,” Scott Haslem, the chief investment officer of Crestone, which manages money for wealthy Australians, said.
“They would have different views around transition or different views around fossils. There would be people who are less interested in climate and more interested in impact or sustainability,” he said at the Macquarie Australia Conference this week.
That leaves the agnostic investors to invest and, absent of policy changes, reap the dividends.
Another reality is that ESG does not come without costs: it may not always be a win-win trade in what will be a difficult and expensive transition.
TCorp’s head of portfolio construction, Tanya Branwhite, agreed that investors are going to sacrifice returns, turn down good trades or lag benchmarks.
“There are going to be some interesting conversations over the coming years about what trade-offs you’re having to make in order to be as ESG focused and delivering what may be expected without having to compromise return.”
Which brings us back to Cannon-Brookes and the ultimate trade-off: divest or engage. By opting for the latter, his crusade may galvanise the ESG movement, but like-minded investors may find it easier to keep their capital to themselves.
Attlasian has never made a profit, loses up to $300 million Pa on pathetic turnovers of less than $3 billion yet is worth over $100 billion. The bearded fucktard and his rich brat partner are both worth over $25 billion. How the fuck is this possible.
So the Victorian Liberals under Matthew Guy will go to a state election supporting the following progressive Labor policies, drug injecting rooms, “transgender” conversion laws, late term abortion laws, indigenous treaty…..oh, with who exactly….Lidia Thorpe?
I’m not mocking Victorians, we here in NSW also have a Labor lite, spineless, jellyfish Liberal government, a government that will be given the boot next March.
This is just self-evident. None of these people ever face any consequences. Whenever wrong doing is exposed, it is just ignored and they carry on as before. When the it’s reported that the FBI has doubled or tripled it’s millions of illegal digital surveillance of U.S. citizens, when even one such event is illegal, and people just shrug their shoulders what hope is there that any remedy will be forthcoming? And look at what’s happened here in the past two years. I don’t consider Australia to be a democracy any more. The election is pure theatre when the whole country is still under “emergency” rule. What rights do we actually still have, beyond ticking a box for Tweedledee or Tweedledum?
Mike Cannon Brookes.
Australia’s King Coal.
If he buys more, the price of coal goes up and exploration goes into overdrive before the price plummets.
Michael Smith News. How many Labor front benchers will that catch?
Victorian Liberal party, with one or maybe two exceptions, are worthless. For all practical purposes the opposition have been the two LDP MPs.
I had a bright maths student drop out after second year to transfer to medicine because his mum wanted it. He came back a year later, saying it was boring. “Like memorising the phone book”.
Young bloke I know who has done some programming for me is very, very bright. He started this at age 13. I thought it was a great joke when at 15 the school started them on work experience when he could fairly claim to be a professional software developer already. Unfortunately subtle family pressure means he wants to go into medicine when he finishes high school at the end of the year. I don’t think it is the place for IQ 160 +. I’m sure he’ll get bored.
The median voter theory implies that negative gearing for investments might go but we will see tax deductibility for mortgage repayments on places of residence.
GRN + PUP = consumer surplus at the expense of producers.
So much chum.
No sign of the KD fish, Cap’n Quint.
Why not just use Wayne Swans ‘4 years of surplusses I announce tonight’ to get the ball rolling?
Attlasian has never made a profit, loses up to $300 million Pa on pathetic turnovers of less than $3 billion yet is worth over $100 billion. The bearded fucktard and his rich brat partner are both worth over $25 billion. How the fuck is this possible.
The Fed.
Any “treaty”with “Aborigines” is going to result in a legal dogfight of monumental proportions. Who is an “Aborigine”, and bound by the “Treaty?” to begin with.
A wild take?
That’s being polite.
Fattening the super more like it. God knows what departing on a Ministerial final salary would be worth if you were on the old Defined Benefits scheme.
Eyrie, it isn’t just the lack of stimulation that might be a problem. The workplace culture in medicine is often vicious and exploitative towards the trainee.
It’s a dirty secret within Medicine that mental health issues amongst the young and those new to profession can be quite bad. And nobody amongst all the Type A personalities who populate Medicine seems to quite know how to fix it…
sfw:
Never heard of the old saying “Such a crook coach, he couldn’t train a choko vine over an outback dunny”?
And they’re almost all men.
“Trans-generational trauma”……..
Depends doesn’t it, on what’s in it for me. Just a little tick mark in a box and all this could be yours.
Theyll find a way to kick him out if he doesn’t eject himself. Ppl that bright ask lots of questions, and they won’t know the answers. Never having thought to ask the questions themselves.
JD Vance is pretty impressive.
https://www.realclearpolitics.com/video/2022/05/04/jd_vance_my_candidacy_exposed_very_corrupt_political_consultants_that_despise_their_own_voters_like_karl_rove.html
The trade-off between divesting and engagement is not new. In November 2015 on a visit to Australia, Norges Bank’s Martin Skancke explained that the decarbonisation of one investment portfolio simply led to the recarbonisation of another.
In the case of Australian coal, the CCP’s.
what are you, a biologist?
How is the fed responsible for investors making this specific investment decision?
Delta Asays:
May 5, 2022 at 6:28 pm
H B Bearsays:
May 5, 2022 at 8:10 am
It is more noble to starve than to eat chokos.
A child of the 50’s (late 40’s, tbh) I gladly ate everything that was put on my plate… except chokos.
If you’ve never tried them, take my advice. Don’t. The name says it all.
Back in my long past days at the Uni of Qld, some wit put a parody article in the student paper, about a Queenslander who had found a way to invert chokos into petrol. Much amusement among those who had ever had to eat the horrible things – I went to a boarding school, and had choked down far too many!
Dun dun dun dun dundundundundunrrrrraaaaaaaaaaAAAAAAAAAAAAAA
It never ceases to amaze me that the people most likely to scream like buggery* and claim to speak for all other women on the planet on abortion are paradoxically the very least likely to be impregnated.
*Deliberate.
I am always meticulous about my few medications when I travel. I get scripts filled for a few month’s worth, just in case I am stuck anywhere and always keep them safely in my hand luggage. And that’s why I don’t know where on earth my blood pressure tablets have gone. Can’t find them, must have mislaid them somewhere en route from home to here.
Hence I now have to grapple with the NHS to get a script here. Started the process this morning. Walked with my friend to her local doctor’s as the telephone was constantly busy. It’s always like this, she says, so we head off down the street to present in person. Maybe they can call me for a telephone consult tomorrow, as it is urgent, they tell me. Maybe they can’t though.
Last time this happened and I needed antibiotics I went private and was seen immediately. Now my antibiotic stash is still in my carry on, sans the BP stash. May have to do go private flashing the CC if nothing comes good tomorrow. The perils of travel.
You just knew Ed October would have a very robust view on chokos.
You just knew it.
In a lengthy “list of demands” issued on Thursday, the Warlpiri Nation also called for a ban on police carrying guns and “only Warlpiri governance and authority in our community”
“Governance” broadly defined includes services like education and health care. Agree quickly, cut off the OPM funded services, and sit back for a couple of months. The survivors will welcome the police back, and also the nurses and teachers.
A bit more from Ossiana, reproduced* from Dot’s link:
What a delightful young woman. On a completely different note – does anyone know why ladeees who read this muck are fucked in the head?
*Deliberate.
Dickless
I suspect that bauple (macadamia) trees were grown for more than privacy.
In the traditional manner, that boat sailed long ago.
Try again, dickheads. Nobody cares.
fascism always is
I posted this earlier but it seems highly relevant relevant to this exchange
1 – Warlpiri nation? What Warlpiri Nation?
2 – Warlpiri governance and authority – so, when the tribal elders sentence an offender to any one of the barbaric tribal punishments that have no place in the 21st Century, that’s all good?
Reproductive coercion.
That’s when the wealthy socialist elite pay poor women for the use their bodies.
Your body our money.
I might point out that I was quoting freaks quoting a freak.
the infinity selfishness of the modern woke wyminsis
Comedian Adam Carolla weighs in on the left’s strategy following the Supreme Court abortion case leak on ‘Tucker Carlson Tonight.’ #FoxNews #TuckerCarlsonTonight
Can’t the Commonwealth of Australia just invade the “Warlpuri Nation” and make sure that they sign the surrender, this time?
“JD Vance is pretty impressive.”
Yes
The Persian Princess, Rita Panahi, absolutely nails VicJack Inc to the wall, and apropos of Greens indig wench Lidia Thorpe protesting about 12 punters being shipped to Christmas Island:
And:
And:
And:
AND:
Knuckle Draggersays:
May 5, 2022 at 8:55 pm
You just knew Ed October would have a very robust view on chokos.
You just knew it.
Had to laugh at his pompous “bauple nut” statement. Only idiots and botanists (possibly not even the latter) referred to them as anything other than Queensland nuts.
What next?
Farmer Gezsays:
May 5, 2022 at 9:12 pm
Reproductive coercion.
That’s when the wealthy socialist elite pay poor women for the use their bodies.
Your body our money.
But enough about Secretary of Transportation Buttygig and xer “husband”.
Musk supposedly has a net worth of 254 bill. If he divested and stuck it all in investments returning 5% pa, he would be making 38 million a day.
Knuckle Dragger says: May 5, 2022 at 9:23 pm
I’d add one improvement to Rita Panahi’s article,
If you’re a pregnant mum posting 100km distant from a locked-down area, about an anti-lockdown protest that will not be held within 100km of a lockdown area, on Facebook you can expect to be arrested in your kitchen in front of your kids and…
How’s that?
Dover
How do you feel about mainland Chinese buying property here?
Chinese embassy criticizes the U.S. for spreading disinformation about China
cgtn
The US is pretty good at disinformation. They’ve even got a department in the DoJ for it.
Mollie Hemingway
These animals are satanic.
Both the Sunbather and I have been polled by a number of different organisations, I have only been polled this evening. We have both said we voted Liberal last time and that we will be voting Labor this time. One question we were asked was about gambling and whether we thought there were more pressing priorities to which we said there were more pressing priorities. Interesting that the Sunbather has been polled about 6 times and he has said he’ll be voting Labor to all of them.
Went to see my Surgeon today, saw the Registrar first. Hello Grey I’m blah blah, yes we’ve met before. I couldn’t forget your lovely eyes. Mr Ranga, I do believe you’re flirting with me. The beauty of youth, sigh. Great to know I no longer pose a threat to young women.
funniest sex-bot themed plot was Rick and Morty.
Morty buys a pawn-shop sex bot, humps it endlessly at home, then it gives birth to a hybrid human/alien.
They take the alien back to its planet – which is run by women, with the men cast out in the wilderness at birth.
https://www.youtube.com/watch?v=vWRYXZe4HxM
https://www.youtube.com/watch?v=c7LjLz2CRSY
Wouldn’t Senator Thorpe have sworn an oath of allegiance to the Commonwealth of Australia, and the Queen?
Shall we take a turn about the garden? invitesl my friend on this fine spring mid-day, where I am wearing a summer frock sans cardigan. I agree to venture out of the conservatory, and we do the English thing, looking at the Spring emerging in all of her forty odd pot plants in unusual pots such as chimney crowns and old wooden tubs, which sit on a terrace of medieval stone slabs rescued from a monastery and on damp grass around the sides of the house. We then move on to the summer house (new and wooden) and the greenhouse and peer in various sheds as she bewails her husband’s proclivity for collecting old bikes (he’s a cyclist) and other sporting gear stored there and in the garage, also full,. where his Range Rover is parked outside.
The nicest part is when we arrive at the orchard against the garden’s far wall, where the gnarled old apple and pear trees are still bearing fruit, and I casually help her removed the eager Spring sprouts from the trunk, feeling like some vandal for doing this but assured it is necessary for the trees’ health. The cherry tree is setting small cherries already, to mostly go to the many birds that come to the three birdbaths and feeder trays she has in various strategic places for them.
This is English regional town life as we think of it in books and movies. A far cry from the cities.
JC life seems to be an inconvenience for these people, not just the unborn. Where does all this come from? What do they ever think about? Do they appreciate anything? They are so lost.
Mongistan late night mask compliance rating:
High.
FMD.
These animals are satanic.
The only logical explanation.
If you don’t mind rickw – where is this? I was in Flemington, Ascot Vale and the City last weekend and didn’t see one, except the odd one at the airport.
This is English regional town life as we think of it in books and movies. A far cry from the cities.
I used to stay at the Chalk Lane Hotel in Epsom. They typically had weddings and birthday parties on the weekend. I used to grab a coffee and my laptop and sit in the lobby doing work, but secretly just watching and absorbing the Englishness of it all!
If you don’t mind rickw – where is this?
Essendon to Flinders street, women generally not wearing masks, beta’s, near 100%.
Well, it was Essendon after all.
Yes Kneel your reply to my question/statement is thought provoking. Each case is different which makes it so difficult with any legislation. I would not presume to offer answers. I used to think abortion was okay because it never affected me and then after having children myself wondered how I could have thought that.
We’ve stayed at the same hotel in London, half a dozen times now. The last time we were there, a group of American tourists were checking out, just as we arrived. They were being veeeery painful….the desk clerk sings out “Oh, the Australians back again. Nice to see you here AGAIN!”
English taxi drivers call you “Governor.”
FOI reveals Pfizer and Medicine Regulators hid the dangers of Covid-19 Vaccination during Pregnancy because Study found it increases risk of Birth Defects & Infertility
speaking of mask compliancing.. it slipped my mind when I transited Melbourne airport the other day.
Didn’t get pulled up all through security etc.. then plonked my arse down at the bar and had a pint before hopping on the plane (masked).
I reckon the compliance rate in the airport was about 8/10 or less… so there’s hope.
Got a bit lippy at the security screen – the mongs took a couple of tools I had in my bag (that I’d flown down with to Melb earlier that same day). Who knew a 4mm hex was a deadly weapon?
Airport security believe in voodoo.
They don’t want you putting a hex on the plane
Is there a functional brain in this White House and I don’t just mean the demented crook?
Crude is up over 110 bucks a barrel.
As long as they’re permanent residents I don’t have a problem.
Indolent says:
May 5, 2022 at 11:11 pm
You are wasting your time Indolent.
As the state of affairs stands at the moment, this Covid had scrambled the minds of a few people, both vaxed and unvaxed. remarkable power this virus has.
On the one side there is Struth, who used to be quite a pleasant fellow, wealth of experience with good stories to tell, but something happened to him, and now he is almost unhinged, claiming actions of others harming him in some way.
I’m not a libertarian but can’t see why someone protecting his family and income reluctantly complying with rules to protect his job is harming him in any way, besides, him not complying can do the same, ie. harming others. (both argument are rubbish BTW)
I don’t condone the compulsory nature of the vax and I didn’t take it, neither is anyone in my family.
On the other side are those sworn supporters of authority both civil and religious, equally rigid in their views.
What I miss is the criticism of them as well by the few vocal forumites who never miss a beat to beat up on Struth, even when he is not present, they goad and bait him.
Luckily there quite few learned or at least interested chaps who take the time to look at both side, and provide good links and arguments.
Johannes Leak.
Mark Knight.
Warren Brown.
David Rowe.
Bob Moran.
Steve Bright.
Christian Adams.
Peter Brookes.
Michael Ramirez.