You guys know me by now, I hope. Therefore, you are well aware that I am about as conservative a person as you are going to meet, this side of the ossified gentlemen mouldering away in the leather chairs of the University Club, NYC. And with some quirkly exceptions, I’d say that conservatism marries both economic and social philosophies. I am pro-life for instance (both ways).
Despite all that, and despite my pro-life advocacy, I must join the growing multitudes calling for the resignation of this confused individual, Todd Akin. Truth be told, I was not really following this Missouri race until the bizarre controversy stemming from this man’s odd analysis of rape (“legitimate” or otherwise!) and pregnancy bubbled up this past Monday evening. You can read more about it in the attached article.
What I do know about Missouri is that Clair McCaskill was/is not well loved, as I’ve friends in various parts of Missouri, including St. Louis and some of the more rural areas. As far as the recent well contested primary (11 bidders!), however, I knew nothing.
I’ve since learned that Akin rose above the horde to win narrowly in the primaries, with the help of statist religous Huckster Mike Huckabee. There are few “Republicans” I loathe more than Huckster, who mingles self-righteous smarm with typical statist RINO “do gooding,” courtesy of the taxpayer’s dime. The fact that Akin is associated with Huckster immediately puts him in the negative column for me, no matter what his dopey views on pregnancy via rape. Moreover, his views, whether misstated or not, do nothing but cast a very serious position off the moral high ground. For that alone he should be interred in the “foot in mouth” Hall of Fame, and summarily dumped. Missouri deserves better than McCaskill for sure, but they do not deserve this dope.
On the matter of Peter Thiel, the FaceBook Sour Grapes and the Cramer Clown Show… I will say merely this:
Peter Thiel took considerable risk by pledging a substantial amount of his (then) small VC fund to the then little-known idea of “the Facebook,” which was at the time being dwarfed by MySpace and other rivals. He waited some five years to get liquid on that investment, which for a VC is typical-to-lengthy. Almost 100% of VC’s have a business model that states “sell at the IPO” as a matter of fiduciuary duty (they are not in the stock asset managment business but the new venture business). That Thiel did what he told his investors he would do when he raised his funds, thereby fulfilling his duty to them is quotidian. That Facebook was valued at a very high multiple of current (and future!) earnings was a combination of cultural knowledge and market hype. There is no arguing these facts, this side of logic and sanguinity.
There has been some talk that perhaps Thiel should give up his board seat as he has released his investors from their Facebook venture investment (they are of course free to buy the company on the open market, but that’s not venture investing). I might agree with this, given Thiel’s only remaining investment is his own, at 5.6 million shares (oh, you missed that piece in all the invective, did you?). That said, he was an original investor in the company, so the board may value his perspective and advice at this point. Whatever the end, however, it is certainly a board decision as to whether Thiel remains or not. Thus far, he has conducted himself rationally and like a gentleman, all noxious statements by Daytrade Cramer aside.
This temporary pullback in the miners is a mere bag of shells. I am carrying on with my trades as described.
Good day, sirs.