Got closer to a deer than any other time today.  It was no more than 5ft away, behind a bush so it didn't see the lion coming.  Being that close & below it, it was a large & intimidating animal.  Thought it was 1 of the more successful deer in the apartment complex.  It obviously managed to outsmart cars for a long time & find more food than the rest of them.

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Lions have postulated 1 future where the stonk market becomes another bitcoin, accumulating ever more money in a relatively static number of shares until the price of stonks is based purely on the number of shares instead of any value.   It could happen if there's no other place to put money, if labor costs go nowhere & interest rates stay negative forever.  It won't exactly copy bitcoin's valuation because the market cap is too big.

What would a lion do in that situation?  Suspect a rebalancing would happen if the valuation after rebalancing was enough to cover all predicted costs until death, after inflation.

 

Also noted in net worth surveys of the last 5 years, the median has never been negative.  Most animals are not under water in debt as the media loves to claim & they're not borrowing more than their net worth to buy houses. 

They may have had more debt 30 years ago, but in the last 20 years we have become a nation of positive net worth & savers.  The fed claims there has never been a time when over 50% owed more than they were worth.  The lion kingdom was only in that situation from age 18-30.  

 

Lions expect a .5% rate cut on Wed.  We'll never see 4% again in our lives.  There it is.   

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Robert Redford got only 89 years.  Lions momentarily remembered The Natural on Sunday, pondering him begging the pitcher not to throw the game.  More memorable for its music, nowadays.  His most memorable movie was Great Gatsby, in lion minds. 









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