| Letters
to the editor from this week's Chronicle Redneck Review! No. 388 - 10/3/2022 Intended today, a "wrapup" of two topics discussed here last week. First, the rapid rise to#1 in the investment world, a company known as BLACK ROCK, currently associated with CEO Larry Fink, utilizing a computer program, ALADDIN, an acronym standing for ASSET, LIABILITY, DEBT, DERIVATIVE INVESTMENTS. This computerized analysis machine adds interest rates, and currency values to the acronyms mentioned above along with nearly 2000other risk factors DAILY which are known to influence stock prices on the many exchanges available for the thousands of investors who buy and sell stocks on those exchanges. As noted last week, ALADDIN was created by Fink and his computer crew back in the mid 1980's, and became an important part in the rapid rise of BLACK ROCK to the company today which research says "is the largest asset manager in the world, worth $69 BILLION itself (mistakenly claimed $69 million last week!), and manages some $10 trillion worth of assets for about 55,000 clients, who today we are told pay a user fee of $5.5 million a year! A couple of new facts related to computerized directed investment companies today! First, an old friend of mine worth ???????? many million dollars told me a few decades ago, that he was reluctant to invest in the big and well known stock markets today, because "a large ratio of the buy and sell orders are made by computers programmed to buy or sell at specified high and low break points!" In a market like we have today, those computer buy and sell orders may take place even several times a day if a market is wildly rising and falling over short periods of time! Of course, such orders tend to stop if the market being studied is flat, undergoing very few ups and downs over a longer period of time! That was very interesting to me at the time, because personally I had gambled a few hundred hard earned dollars responding to a convincing computer ad that claimed its own computerized investment opportunity, listing by date about a dozen investments which had turned impressive profits over short periods of time! The cost to me was the membership fee and an original sum invested to begin the almost "fool proof procedure" that suggested I would soon by seeing my bank account growing as the machine correctly predicted the ups and downs of companies, and the computerized buys and sell orders of our machine! Well, I am glad I kept the "investment" quiet, because even with frequent calls to the "Help Line" of the company, I simply could not get the "sure thing" producing the "sure results!" My younger children may remember us switching back to the ever inexpensive purchase of HOMINY as our choice of vegetables for a few weeks! Finally, I must comment on a possible new opportunity to invest with a computer's input! I have been a fan of Jim Rickard's ever since reading his book THE ROAD TO RUIN several year ago, in which he makes a convincing case that we are headed for another serious depression. I did subscribe to his newsletter some time ago, and keep hearing about his AES system, which is an acronym for his ASSET EMANCIPATION SYSTEM! I have done just enough research to believe that Jim has his own computer guided investment program, at a very reasonable cost to normal people like me! But at 85 with a similar lack of taste for hominy, I have resisted the urge to date!So I leave my interest in the topic to younger and more ambitious folks, willing to gamble a bit! Oh yes! A very brief return to the prediction seen here, that SILVER may suddenly SKY. Since that prediction, silver one day did jump 90 cents one time, and just today, took a $1.69 leap in that direction! Of course, that 90 cent leap was followed rapidly by a bank short sell which pushed it back down! Hmm! Will the next few days see that happen again or will it SKY as predicted? Jake Wren
|
|