10. Oakland Coach Greg Kampe Makes Less Than Players and Assistants in Today’s Division I Basketball.
Greg Kampe salary
Per information obtained by USA TODAY Sports’ Steve Berkowitz, Kampe had a base salary of $329,609 this season. Per Berkowitz, there are also bonuses of up to 19.9% of his salary built in, but the specifics of those escalators are unknown. That is seemingly by design.
By comparison, Kentucky assistant Orlando Antigua had a base salary of $900,000 this season. Calipari, for his part, has a $34.97 million buyout as of April 1 for the Wildcats. His base salary was $8.54 million, second-highest in college basketball. Izzo is third at $6.2 million, while Bill Self at Kansas leads the way at $9.63 million.
A tidal wave of money is pouring into the market with every paycheck millions of Americans receive. At the end of the 4th quarter, there was $10.56 trillion in Defined Contribution Plans. I don’t think it matters much* whether this money goes into actively managed mutual funds or index funds. The fact that it’s coming in, in this size, every two weeks come hell or high water, is absolutely having an impact on the price of stocks. Specifically, the price relative to whichever underlying fundamental metric you prefer to measure.
Today’s the day you can finally own stock in Reddit, the only social media platform where you can both stage a Wall Street coup and join a community for people who love stapling bread to trees. The 19-year-old company, listed on the New York Stock Exchange as RDDT as of today, is selling 22 million shares priced at $34 each, valuing Reddit at $6.4 billion. But that’s pretty much the only conventional thing about this IPO, which is being bet against by some of the very people who make the site what it is, prompting Reddit to warn of potential volatility. Here’s what’s going on:
In a nod to the platform’s reliance on user-generated content, Reddit set aside 1.76 million shares for certain US-based highly active users and volunteer community moderators.
Many Redditors have not only passed on the IPO—they’re getting ready to dance on its grave. The 15-million-member r/wallstreetbets subreddit, which briefly turned GameStop to gold in 2021, is filled with talk of shorting RDDT and watching it “absolutely plummet.”
Any Redditors who did buy before the bell won’t have to wait the typically mandatory six months before selling, so they could cash in on initial surges.
Growing pains Last year Reddit CEO Steve Huffman said it was time to “behave like an adult company.” But the untameable beast that is the Reddit community hasn’t always been on board with Huffman’s efforts to make the site profitable…like when thousands of moderators protest-shuttered their communities after Huffman announced that third-party developers would have to pay for site access. Now that it has a fiduciary duty to make its shareholders richer…Reddit has to figure out how to turn a profit without enraging users. But in a move that will probably anger many of them anyway, Reddit is looking to diversify its main revenue stream (ads) by letting companies train their AI models on user-generated content. It just signed a $60 million/year data licensing contract with Google, but the FTC is probing the deal.—ML
Preparation is important. Planning is important. Reflection is important. I mean, I wrote a whole book called, Stillness is the Key, because it’s true. And I was just saying earlier this month that I needed to slow down and take better care of myself because I was pushing too hard. And I just read and loved Cal Newport’s new book Slow Productivity (we had a great conversation on The Daily Stoic podcast, listen here). At the same time, I also just hung up two signs at The Daily Stoic offices and in the backstock of The Painted Porch that say “A Sense of Urgency.” It’s something I cribbed from the kitchens of Thomas Keller, the creator of Per Se. He wanted his staff to understand that they weren’t waiting on customers…the customers were quite literally waiting for them. Sure, making great food takes time and it can’t be rushed…but it also can’t be slow-walked. I’m a ‘sense of urgency’ guy. I always have been. As I was working on a draft of this article, one of my former employees sent me a short piece about the concept of “clock speed,” which in the world of computing refers to how quickly something can execute instructions. “Something you are very good at,” this former employee (and now friend) wrote. “You keep the tempo/momentum very high and if there is ever a bottleneck somewhere (decision or input), you process that as soon as physically possible. You return the ball very quickly.” It’s funny that he said “return the ball” because that’s something I used to say a lot. I’d say look, we don’t control how long other people take to do things, but we do control how long we take. We want to hit the ball back into their court—I’d rather be waiting for them than them be waiting for us. I started using a different metaphor more recently. When someone tells me that it’s going to take six weeks for our bindery to make another run of the leatherbound Daily Stoic, I want to “start the clock” as soon as possible. Meaning, I’m not pleased if I hear it took 2 weeks to make the decision about how many to order, or that somebody was slow in processing an invoice. I don’t control how long it takes to make stuff, but I do control when the clock starts on it. The project is going to take six months? Start the clock. You’re going to need a reply from someone else? Start the clock (by sending the email). It will likely take a while for the bid to come back? Start the clock (by requesting it). It’s going to take 40 years for your retirement accounts to compound with enough interest to retire? Start the clock (by making the deposits). It’s going to take 10,000 hours to master something? Start the clock (by doing the work and the study). It struck me that this has become a kind of dividing line between success and failure within my team. Those who haven’t worked out haven’t been able to start the clock or return the ball very quickly. It’s not just my team—it’s a source of frustration that fills the letters and dispatches of just about every great general, admiral, and leader throughout history. In the American Civil War, General George McClellan, for instance, seemed utterly incapable of getting to the fight quickly, to the complete exasperation of everyone who worked with him. There’s even a story about Lincoln coming to meet with McClellan for a meeting but McClellan blew him off because he wanted to go to bed (he thought it could wait until the next day). Only after repeated prods from Lincoln—by “sharp sticks,” one of his secretaries said—did McClellan finally begin to move against Lee in 1862, taking nine days to cross the Potomac. “He’s got the slows,” Lincoln said in frustration. Joking to his wife after visiting the general in the field, Lincoln poked fun at his parked commander. “We are about to be photographed [if] we can sit still long enough,” he said. “I feel General M. should have no problem.” McClellan was a brilliant soldier. But groaning under the weight of his baggage train, his conservatism, his entitlements, his paranoia, and his precaution, he was constitutionally unable to do things quickly, to act urgently, to care about the people waiting on him. He seemed to not understand how much the country was waiting on him, how much it was depending on him sending the message that the North was in the war to win it. Deep down, maybe he didn’t actually want to win the war–at least not early–hoping that a negotiated end might preserve slavery. Lincoln’s big mistake, honestly, was not firing him sooner. You could say Lincoln had the slows himself there–or was in denial–about what needed to be done. Replacing McClellan was not easy and he had to cycle through a number of replacements, but if Lincoln had started the clock sooner, who knows how much sooner the war would have ended. Not that I’m not saying you need to rush everything, I’m really not. There’s another Civil War general I like, General George Thomas. Thomas was hardly known for his speed. His nickname, in fact, was “Old Slow Trot,” which he had earned for the discipline he enforced as a cavalry commander. But it really wasn’t that he was slow; he was deliberate. After all, a trot is not a walk. Some people thought he was too slow and maybe sometimes he was. Thomas found himself at odds with Grant for not moving fast enough against General Hood’s army at Nashville, taking such an exasperatingly long time to get moving on Grant’s order to “attack at once” that Grant moved to personally relieve him. Grant thought that Thomas wasn’t hurrying, that he was dragging his feet. In fact, he was fully committed–unlike McClellan–to attacking, he just wanted to ensure he succeeded when he did so. Having prepared properly, supplied adequately, and trained effectively, he waited for the right moment and then attacked with all deliberate speed. Thomas annihilated his enemy in the Battle of Nashville in December 1864, one of the great victories of the war. (His other nickname was the “Rock of Chickamauga,” for standing fast against a massive enemy attack that would have easily broken a fair-weather general like George McClellan.) There is an old Latin expression that I think captures the balance here nicely: Festina lente. Make haste slowly. A sense of urgency…with a purpose. Energy plus moderation. Measured exertion. Eagerness, with control. It is about getting things done, properly and consistently. Seneca once said that the thing all fools have in common is that they’re always getting ready to start. But the thing about clocks is that they are running even when we aren’t. If someone says it’s going to take six weeks to manufacture something, that’s the minimum. It will take longer if you delay getting started, also if you’re slow to respond to emails, or if you don’t start working on your plans to receive that shipment when it’s done. If you don’t have a sense of urgency about what you do, you’ll miss opportunities for efficiency and for effectiveness. You aren’t someone who will work well on my team, or really, any great team. So it’s worth asking: Are you someone who reliably returns the ball? Are you someone whom colleagues and clients can count on to be there when they need you? Or will they have to prod? Will they have to beg? Will they have to repeat, again and again, the urgency of the situation? Are you always getting ready to start or are you in the habit of starting the clock? Do you have “the slows” or do you have a sense of urgency? Where are you slowing things down, where could your clock speed be better? Your success hinges on your answer. On your ability to effectively manage time. On your capacity to initiate projects, address tasks, expedite processes. We don’t control the clock, but we control when it begins ticking on our projects and pursuits. Every moment of hesitation delays the outcome and diminishes the potential for success. Don’t be a fool. Don’t be the person always getting ready to start. Instead, always be starting the clock.
5. 20 Year Treasury ETF-Longest Losing Streak Since 2002..Investors Betting Higher for Longer
Dave Lutz Jones Trading STREAKING– Treasury ETF Hit by Record Losing Streak, $2 Billion of Outflows – With solid economic growth pressuring bond yields and sapping demand for safe assets, the iShares 20+ Year Treasury Bond ETF (ticker TLT) fell again on Monday for eight straight declines. That’s the longest losing streak since its 2002 inception. For five weeks in a row, the fund has seen outflows, with withdrawals totaling $2 billion over the stretch.
It doesn’t seem like much of a stretch to say that the single most important thing you can do to be more focused during the day is to get more rest at night. No one is at their best if they’re tired. Sleep is maybe your single most powerful productivity tool, so if there are things you can do to help yourself get more, that seems worthwhile.
Of course, getting more sleep isn’t always that easy. In fact, many people don’t get enough sleep, according to research. There are a number of reasons this is the case, but one of the biggest barriers to getting enough sleep is falling asleep in the first place.
There’s nothing magical about the type of paper you use, though I recommend using a small notepad or a notecard that you can keep next to your bed. That way, if you are lying in bed and can’t stop thinking about something, you can quickly reach over and write it down.
By the way, I strongly recommend you not try to do this on your iPhone, even if that’s where you keep your to-do lists. The reason, which should be obvious, is that once you pick up your phone, even if it’s to dump your brain, you’ll inevitably find a few dozen other distractions that steal away your focus and add to the list of things you’re thinking about.
This is usually some combination of tasks you need to complete, as well as other things that you’re stressed about. Maybe you have an important meeting that is causing you anxiety. Take those thoughts captive by writing down a simple word or phrase that captures your feelings. In the case of the meeting, you might just write a reminder that “Everything is set for the meeting.”
If there’s still something you need to do for the meeting, just write it down so your brain can stop worrying about whether you’ll remember. You’ll be surprised how much you can free up brain bandwidth just by writing down a simple list before you try to go to sleep.
By far, the greatest amount of worry is caused by loose thoughts and things your brain is trying to hold on to so you don’t forget. The beauty of taking a few minutes to write them down is that you give your brain permission to let go. Knowing they’re written down and waiting for you in the morning is usually enough to shut off the noise and let your brain turn off.
That’s why I call it a brain hack. It’s a way to dump all of the thoughts and information that race through your brain and get them down on paper, where you can organize or act on them later–you know, when you aren’t trying to go to sleep. It’s a way of hacking the way your brain works so that you can get to sleep and be more rested.
By the way, that list you just made is useful beyond your brain letting them go. You just made yourself a to-do list so that you can get started in the morning on the things that matter most. That list is the stuff your brain was holding on to, and it’s the perfect place to start when you think through what you need to accomplish the next morning. And, it only takes you five minutes.
3. 2023 The U.S. Added Record Solar Energy Capacity
It’s Official: America Is Experiencing a Solar Power Explosion Unmatched in History
For the first time since WWII, a renewable energy source has outpaced fossil fuels. BY DARREN ORF-Popular Mechanics.
In 2023, the U.S. added more solar capacity that ever before, at 32.4 gigawatts.
This added capacity surpassed any other energy source in 2023, marking the first time a renewable energy source outpaced fossil fuels since World War II.
The Inflation Reduction Act, along with the Biden Administration’s push for U.S. solar manufacturing, means these record-breaking years will hopefully be the year-after-year norm.
6. The Bitcoin Halving …We are at 19.6 million tokens with stop at 21 million tokens
Barrons Halvings happen roughly every four years and will continue until Bitcoins in circulation hit 21 million tokens. So far, more than 19.6 million Bitcoins have been mined, leaving 1.4 million to be issued. Since Bitcoin has no underlying value—only a cost to produce—its price is subject to supply and demand. Halving tends to restrict supply.
A majority of people, 95%, intend to look for a new job this year, according to a January 2024 survey by jobsite Monster. And many anticipate it will be challenging. More than half, 68% say they think it will be difficult to find one given the state of the economy.
While finding work opportunities can be challenging, there are ways to conduct yourself that could make doing so even harder.
“There’s something called validation seeking behavior, aka desperation,” says Lindsay Mustain, a former Amazon recruiter and current CEO of career coaching company Talent Paradigm. She adds that “it’s that ‘pick me’ energy that actually repels the opportunity.”
Here’s how to avoid giving it off.
Don’t apply to a company over and over
First, avoid applying to jobs in the company over and over again, especially in a short period of time.
If Mustain sees that “you’ve applied 20 times in the last two years and we’ve never hired you once,” she says, that’s a red flag. She immediately thinks, “something’s wrong with that candidate for them to have not been hired by this point.”
Regardless of how much of a fit you might be for the job, a recruiter’s likely not going to take the time to investigate your candidacy further.
“This is how you can kind of get blacklisted,” she says. Try to limit your internal applications to a maximum of five roles that you closely align with in the company.
Don’t use LinkedIn’s ‘open to work’ banner
Another red flag for a recruiter: the “open to work” banner on LinkedIn.
Just by putting up that one signal on the site, “we already know that you need something,” says Mustain. It means that you might not be as picky when it comes to your job opportunities, that you might not be moving your career forward in a measured way that helps you build skills and get better.
“It reduces the appearance of being a high caliber candidate,” she says. Plus, it changes the dynamic in a conversation with a hiring manager. Now, they’re not trying to convince you of a great job opportunity because they want you at the company. Instead, you’re trying to convince them to consider you.
Nolan Church, CEO of talent marketplace Continuum and ex-Google recruiter, agrees. Using the banner “actually feels to a hiring manager like desperation,” he previously told CNBC Make It.
“It’s kind of like asking for a handout on the corner,” says Mustain.
Don’t show up ‘very wounded and hurt’ on social media
Finally, if you’re unemployed, don’t post your unemployment status on social media, especially if you’re inclined to do so from a place of hurt. Mustain gives the example of a post like the following:
“I just got laid off and I have two kids at home and I really need another job, like, as soon as possible. So if you could please introduce me to every person that you know that has a possible opening, I would be so grateful.”
Though sad and a cause for sympathy, people who post like statuses are “showing up very wounded and hurt,” she says. They’re “bleeding out on social media.” Ultimately, they’re showing a weakness in a similar way to people who include the “open to work” banner on their LinkedIn profiles. It’s clear they need something.
A post like that “repels people because they’re not coming from a place of strength,” says Mustain.
Instead, if you’ve been laid off and want to signal to the world that you’re looking for new opportunities, try framing the situation as a new beginning or a chance for growth and sharing concrete examples of your past contributions and successes. You can also share what you’ve learned and how your experiences have equipped you for future challenges. All of this “demonstrates adaptability and a forward-looking mindset to potential employers,” she says.
Remember, “you don’t need any job,” says Mustain. “You want a good job.”
2.The Price Between Puts and Calls has Narrowed to Historic Low.
From Dave Lutz Jones Trading A closely-watched gauge of stock market sentiment has hit its most extreme level since 2008, as options traders increasingly focus on capturing further gains in soaring indices rather than worrying about a potential sell-off – Investors are so bullish that “fear of a crash-up” now trumps “any meaningful concern of a correction lower,” said Charlie McElligott, managing director of cross-asset strategy at Nomura, who wrote in a note to clients this week that markets “are foaming at the mouth, FT reports.
5.Copper Rally-Analysts Pointing Out Copper Rally as Positive Tell for China/International?
Copper Contract Rallying to 2023 Levels.
Copper Miners are Making Run at All-Time Highs.
6.Meanwhile Chinese Young People are Loading Up on Gold.
Gold Beans All the Rage With China’s Gen Z as Deflation Bites
Bloomberg News
(Bloomberg) — With China’s deflation at its worst in 15 years, a volatile stock market and bank interest rates too low for her liking, 18-year-old Tina Hong is placing her financial security in gold beans.
Weighing as little as one gram, the beans — and other forms of gold jewelry — are increasingly viewed as the safest investment bet for young Chinese in an era of economic uncertainty. It’s part of a larger consumer trend for all things gold — from bullion to beans and bracelets — that has gripped the mainland.
“It’s basically impossible to lose money from buying gold,” reasoned Hong, a college freshman studying computer science in Fujian province who in January began buying gold beans because of their relatively low cost of about 600 yuan ($83) per gram. She has more than two grams of the beans and will continue buying them as long as costs are lower than international gold prices, she said.
Branded as an investment entry point for young consumers, the beans, which come in glass jars, are the latest hot-selling items in Chinese jewelry stores. Generation Z consumers — buffeted by high youth unemployment and the nation’s slide into deflation — are now among the top consumers of gold accessories in the world’s second-largest economy, according to the 2023 China Jewelry Consumer Trends Report by Chow Tai Fook Jewelery Group Ltd. The attraction of gold comes as people pull back on shopping amid months of disappointing growth.
China Gold Rush
A lack of faith in traditional investments has fueled this new China gold rush.
“Starlink Mission” (CC BY-NC 2.0) by Official SpaceX Photos
SpaceX CEO and terminally online memelord Elon Musk is becoming an increasingly vital figure in the US defense system.
The company that’s been in the news lately for its moonbound megarocket was awarded a $1.8 billion contract in 2021 to build a spy network of hundreds of Starshield satellites for the National Reconnaissance Office, Reuters reported over the weekend. The low-Earth orbit satellites would support ground forces and enhance the ability of the US to locate targets globally.
The SpaceX partnership reflects the US’ urgent efforts to win the latest iteration of the space race.
China announced plans earlier this month to create its own constellation of low-orbit satellites to compete with Starlink.
US intelligence officials warned in February that Russia is developing a nuclear space weapon capable of destroying satellites.
Musk’s satellites have been a geopolitical football: Ukraine has claimed that Russia is using thousands of Musk’s Starlink satellite terminals to gain a tactical advantage during its invasion, starting a squabble with the Biden administration. Starlink, however, is a separate entity from Starshield, which is designed for military or government uses.
Go down the rabbit hole: The New Yorker dug into the US government’s reliance on Musk for national security.—DL
“It’s easier to get a smart person to do something hard than to get them to do something easy that doesn’t matter.”
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“When you know what needs to be done, inaction increases stress. You feel a lot less stress when you do the things within your control that move you closer to your objective. Action reduces stress.”
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“A lack of routine causes more problems than poor choices. Routines turn desired behavior into default behavior.”