Colorful descriptions of Haiti

My Facebook friends have their panties in a twist because President Trump purportedly referred to some countries where people want to emigrate to the U.S. as “shitholes.” (e.g., see “Trump Alarms Lawmakers With Disparaging Words for Haiti and Africa” from the nytimes) The only righteous attitude toward these countries is that they are wonderful places full of culture, orderly Swiss-style cities and villages, and economic opportunity. It is just that the people who live there would rather be in Baltimore, Detroit, Cleveland, or Buffalo.

Their horror reminded me of the experience of a CBS News crew in Haiti after the 2010 earthquake. A former instructor at our flight school was flying a Pilatus PC-12 for a rich guy and the owner said “go down to Haiti and fly supplies around.” He was indifferent to whether the plane was flying out of Teterboro or Port-au-Prince so he packed his bag, stopped for fuel in Fort Pierce, Florida, and kept going to Hispaniola. After a week or so, Dan Rather hopped on the plane so as to be on the ground when the food and water were delivered to grateful quake victims. The crew decided to gather some B-roll from the pilot, assuming that he was there in Haiti because of his profound commitment to humanitarianism. Here’s how the conversation went…

  • CBS: What do you think the effect of your work here will be?
  • Pilot: Well, Haiti was a shithole before this earthquake and I’m sure that it will be a shithole after all of these relief workers have packed up and gone home.

Somehow I don’t think that this heartwarming footage was ever aired…

[Separately, when are the folks who criticize Trump for saying that Norway is nicer than Haiti going to spend their vacation time and money in Haiti? Or, better yet, become rich by setting up a vacation resort in Haiti?]

Related:

Philip Greenspun’s Weblog

Earnings Foliage turning colorful!

As dependable as the autumn leaves, exposing the multiple colors in the fall foliage week by week, the October earnings season is expanding to show an increasingly diverse group of sectors in the companies which report their ‘true colors’ of results this week. Last week the stream of earnings was focused on the major banking names Citigroup (C), JPMorgan (JPM) and Wells Fargo (WFC) which reported generally positive results. Financials continue to lead the sectors this week, with Bank of America (BAC) leading off before the market opened Monday with a positive result. However, the market reaction was muted this morning. The shares ($ 16.06) were only up 6 cents one hour into the trading day. Perhaps the move BAC enjoyed last week when its peer group reported took the wind out of the actual results. The lack of significant movement took its toll on the BAC October options expiring this Friday as the 16 strike straddle is lower by 21 cents to a market of 0.38 bid | 0.40 ask.

Other financial names reporting this week include:

Goldman Sachs (GS) and Regions Financial (RF) Tuesday before the market open –BMO

Morgan Stanley (MS) and US Bancorp (USB) Wednesday AM and American Express (AXP) after the close –AMC

Bank of New York Mellon (BK) and Fifth Third (FITB) early on Thursday –BMO

Technology stocks join the party this week with 15 component companies in the XLK Technology ETF report. Notable highlights from this sector include:

10/17 IBM (IBM) after the market close

10/18 Intel (INTC) and YHOO (YHOO) Tuesday –AMC

10/19 EBAY (EBAY) – AMC

10/20 Microsoft (MSFT) – AMC

Traders will also get a view into the industrial space this week as well with 13 members of the XLI reporting.

Airlines United Continental (UAL) Monday – AMC and American Airlines (AAL) Thursday – BMO

Textron (TXT), Illinois Tool Works (ITW) and Union Pacific (UNP) also Thursday – BMO

Honeywell Intl. (HON) and General Electric (GE) announce Friday morning – BMO

I never noticed before that old industrial companies tend to report in the morning before the market opens while tech companies report after the market closes, interesting…

The last of the presidential debates will be held Wednesday evening, thankfully. This one coming appropriately from the carnival capital Las Vegas. Even though Hillary appears to be the clear front runner, the OptionsHouse implied volatility constellation shows a bump higher in the implied volatility in the SPY – the S&P 500 ETF for the weekly options expiring right after the November 8th election date. This view of implied volatility across the expiration terms can be very helpful to option traders in quickly locating potential dates where the options market sees potential for larger moves. Earnings is an obvious case for using this feature. Look at Amazon and Apple below:

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This view of implied volatility across the expiration terms can be very helpful to option traders in quickly locating potential dates where the options market sees potential for larger moves. Earnings is an obvious case for using this feature. Look at Amazon and Apple below. Clearly earnings are next week:

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While Disney (DIS) and Facebook (FB) won’t report until the first week of November:

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Enjoy the fall foliage when nature and stocks show their true colors.

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