CSCO

John Chambers used the words "unusual uncertainty" when describing the economy and combined with a slight miss on revenue (100 M on $1.9 B) the afterhours investors (speculators) ran for the hills taking CSCO down 10%. Really? CSCO's business is now worth 10% less than it was yesterday? To say I think this is overdone is an understatement. This will cause selling tomorrow morning in AAPL, AMZN, GOOG etc and if you are looking to add to positions, buy calls (long) short puts etc there should be good opportunities to trade manana. I have no position in CSCO. I am long AAPL, GOOG calls, SIVB and CME calls. The CME calls have absolutely imploded and I expect them to be a complete loss. I don't usually lose 100% on any one investment decision but I think I will on this one...

YouTube. I had no idea. I had no idea the amount of lunacy on YouTube. I watched a video the other day by a guy (who I will leave nameless for his sake) that has decided to sell his house and his cars because all debt is bad and he wants to live debt free. When challenged about having to pay rent for a home for his family he tried to argue that rent wasn't debt because you could always choose somewhere else to live. He actually stated that once you had paid first and last you were good to go. As if somehow rent wasn't debt because you didn't have a payment due right then and that you could choose at that point to go somewhere else. When notified that FASB and GAAP require that entities capitalize leases as both current liabilities and long term debt, he didn't respond. His lack of critical thinking ignored the fact that landlords can raise rent, rent never expires etc etc. Yet, to him, it wasn't "debt." Debt being, for him, nothing more than a tool of the "banks and the brokerages." Aye carumba.