Blog Page 2

What makes up a Trading Book and my new friend Dr. SOCE


If you notice JP Morgan’s 2019 Interest Income , you will see that 12.8% of it came from Trading – assets of debt securities and 11.4% of it came from Trading assets – Investment securities. Together they contributed interest income of $20.4 billion, computed on a Tax-Equivalent basis (see our earlier post on how 1 + 1 is not equal 2).

So what is in a Trading Book?

Trading Assets / Trading Book.
As of end 2019, JP Morgan had trading assets of $411 billion and Investment Securities of $398 billion. For its trading book, on average $334 billion were debt securities, so JP Morgan is a big debt shop, with the remainder being mainly stocks. While the loans is overwhelmingly US based, the debt securities potion trading book is split $223 billion US based (66% US based) and $111 billion.

JP Morgan is definitely a debt-sweat-shop.

So before we go further, lets clarify something : Why this violence?

Did JP Morgan foresee the taper tantrum?


Banks used to be very much in the spotlight a decade ago as people wondered how they could grow to be so big . For example, JP Morgan’s total assets of $3 trillion USD is several times higher than Malaysia ‘s GDP.

However in the process of building our secret box, we will show precisely to think of banks and explain their mysteries .

(Note to self: No more culture war editorializing )

When 1 + 1 is not equals 2


We continue our work towards building the system to de-platform all systems, a system so secret that it is the most secret-y secret of all of secret-dom and we are its sole witness! It’s a heavy burden,  but nobody must know the mystery of the secret platform.

One problem that irritated us for 5 years is this simple line item over here picked up from JP Morgan’s Annual Report.

Debunking the MITRE Report


A team of MITRE data scientists calling themselves the “Bald Eagle” produced a report over here which provided the following conclusion: In summary, multiple types of analysis found no evidence of fraud, manipulation, or uncorrected error in the eight states included in this research.

We had a quick glance of the report and would like to point out a significant flaw in the methodology which renders the conclusion to be inconclusive.

The Gateway Pundit also argues the case over here, but their argument is not quantitative as we are.

Credit losses mounting at Goldman Sachs’s Investment Banking Division


While celebrating our new Totalitarian Woke reality, we noticed something about the Vampire Squid (aka Goldman Sachs) financials.

[ Standard disclosure: Not investment advice, not investment advice, not investment advice, Cancel Manchester City from Premier league ]

Happy Gina day


Today we are celebrating Happy Gina Carano day as she revealed Disney Corporation’s hypocrisy and bullying. If you have daughters you have to watch her interview.

We will follow up about this closer to Disney’s earnings date.

Subscribing to Disney means supporting bullying.

We publicly declared our opposition to Disney last year and await the day the company’s credit rating gets downgraded to sub-investment grade.

A road trip to Maran

Credits: Bernama

If you did not notice, the great state of Texas froze over the last week as it was hit with a polar vortex. Things got so bad that a vast proportion of the energy generating capacity was knocked off and it is now emerging that home owners had energy bills that went up to as high as $16,000 as the price of energy spiked through the roof.

At the same time, Texas Senator is under fire for initially joining his family in a vacation to Cancun, Mexico, while the state he represents endured a national emergency. He should resign because at a time when the state is in trouble, you should be on the ground lending whatever help you can get and your family should stay with you.

This reminds me of a saying Queen Elizabeth I made about not abandoning London when the German Luftwaffe were raining bombs on the city.

And Malaysians can be proud because our Royalty also shows great concern and are very quick to be on the ground when disaster strikes, which can provide moral encouragement to all the rescue and relief forces as well as  to the rakyat to endure adverse circumstances.

Gempar ! International pressure building against Facebook


We want to thank the management of Facebook for making National De-Platform Day a great such a great success, that it’s now International De-Platform Day.

If you hadn’t noticed , Facebook just banned all Australian content from its platform overnight and without warning.

If this was a threat, it was wonderfully executed as now almost all of Australia is united against Facebook. The Australian PM also spoke with the Indian PM on this.

Imagine if the Government of India and Australia decide to join forces and de-platform Facebook from their countries. It would make this the Best National De-Platform Day ever!

De-platform Facebook!!

The rest of this post is about football and discusses “conspiracy theories” and an amazing goal scored by PSG against that Woke Barcelona!

(Note: I disliked Barcelona ever since UEFA conspired in 2005 to deny Arsenal a chance to win the Champions league by sending off Arsenal goalie so early ).

Did The Cabal target India


We now know for a fact that a Swedish teenage media celebrity, who became famous for shouting at world leaders, was party to an attempt to put international pressure on the Government of India in dealing with a domestic protest.

Shortly after that,  Bill Gates, started talking loudly about climate change, even to the extent of pushing the idea of nations consuming artificial beef as a replacement for beef derived from your favourite cow.

Most people who do not analyze the news and the facts may miss the tell-tale signs of The Cabal as they only feed on the narrative fed to them.

The Cabal is a clear and present danger to peaceful citizens throughout the world.

Fox’s Daytona 500 TV ratings crash worse than Game STOP stock!


We interrupt our celebration of “National De-platform Day” to bring you this following important announcement : FoxNews Daytona 500 ratings crash through the floor and then through the basement and as of now, it is still crashing!

Several week’s back we asked a simple question:

Can MAGA supporters punish the traitorous Fox for allowing the Totalitarian Woke State to run amok?

Well, the answer seems a resounding ‘YES’ as Daytona 500 TV ratings fall to an all time low of under 5 million viewers.

This was almost 40% below last year’s disastrously bad TV ratings of 7.3 million. To put some perspective, Daytona 500 used to have TV ratings of 12 million in 2017.