BC FINANCE
Saved by @SteveeRogerr

Alberta's multi-billion $ public investment in KXL takes another step toward a write-off. It leaves me wondering: what role did an erroneous understanding of "indemnification of political risk" play in getting us here? #ableg

 There is a logic to public investment to indemnify a project against political risk in some situations: where the government making the investment has some control or influence over that risk.
It serves the same function as a change in law provision in a contract with government: the government accepts the losses of the prospective policy change that creates the risk. The losses are allocated to the party who can best avoid them.
The federal government's TMX investment is one example. The major impediments apparent were largely under Ottawa's control: adequate environmental assessment and adequate FN consultation.
By making the investment, Ottawa either carries out the necessary actions to allow TMX to proceed, or suffers the losses of failing to do so.
But this concept is wholly inapplicable to the Alberta government's investment in KXL: Alberta wields little-to-no control or influence over the U.S. executive discretion to grant or rescind its permit.
(Despite the Alberta government's expensive lobbying plan to gain influence https://t.co/5UI0o06I2b)
So, did a misunderstanding of the valid concept of indemnifying political risk lead #ableg to an enormous waste of public resources?
Richard Masson from @UCalgary's @policy_school suggested that this was the Premier's rationale. https://t.co/dBQtfURQV1
Of course, a government is welcome to indemnify against political risk that it has no control over, and no special inside knowledge about the outcome. But this is not a smart investment.
For the Premier's part, he seems to believe that he could actually influence the U.S. executive's decision, thus justifying the assumption of that political risk. https://t.co/KvfgLfPCUz
But that seems like a remarkably naive position to be taken by a shrewd political mastermind like the Premier.
He also referenced a "political risk" that has no connection to KXL at all: the risk that Ottawa would pull the plug on its own project. https://t.co/l67Tay8ysq
This feels more like the actual animus for someone who viscerally despises the Prime Minister. Unfortunately, political rivalry with Ottawa does not make a huge bet on Washington's decision any smarter.

More from Finance

Shaan Puri
Shaan Puri
@ShaanVP
If you're a college student who wants to pay off all your loans... here's an idea for you:

It takes ~$5k to start and will make ~$30k a year of profit

It won't get you rich, it'll pay for college.

(..and will teach them more about business than they’ll learn in school)

The idea isn’t sexy. But it works:

**Plastic Moving Bin Rentals**

Everyone knows moving sucks. The worst part is being stuck with 400 cardboard boxes at the end of your move.

Instead - @benmlevy told me about Gorilla Bins. They dropoff plastic moving bins, & pickem up later.


Let’s break it down. Our goal is to pay for college (~$30k profit per year).

To do that, I think we’ll need $50k in revenue.

The avg move (a 2 bedroom apartment) is $180

To hit our goal, we need do ~5.5 moves per week

COSTS?

How many bins do we need to buy up front?

5.5 moves a week x 50 bins = you need 275 bins. Let’s round up to 300 to be safe.

Ok let’s hop over to @uline to see how much these bins cost

Bingo. Bins cost about $15 a piece.

$15 x 300 bins = $4,500 initial startup costs.

Time to beg your parents or a rich aunt to lend you money to get the biz rolling (...or just take $5k of student loan money and invest it here…)
FINANCE
Orwell & Goode
Orwell & Goode
@OrwellNGoode
This year has been quite something.

But let's try to pick some of the most clownish stories this year had to offer.

Here's to 2020's end of year thread 1/50


Have you got a license for that opinion?

2/50


At least academics remain the same.

3/50


And Sweden didn't change

4/50


Don't have much to say about this one

5/50
FINANCE
Advertisement
Kevin Dahlstrom
Kevin Dahlstrom
@Camp4
🤔 Thread: More of the wrong thing is less
(or, how I stepped off the hamster wheel)

I’m going to share a personal story with hope that it inspires at least one person to re-examine their definition of success 👇

Through hard work and an unfair share of luck, I’ve done some cool “bucket list” things in my career:

✅Raised VC from the worlds’ top firms
✅Helped build 100’s of millions in revenue from nothing
✅Rang the bell at the NYSE
✅Met & did deals with billionaires & business icons

These are things I dreamed about when I was young and I treasure some of the memories. But when they finally happened I felt surprisingly unfulfilled. I was scoring lots of points but didn’t feel like I was winning.

Then a few years ago during a board meeting I had a moment of clarity. I looked around the table at 10 people, all absurdly successful by financial measures. There wasn’t a single person I wanted to emulate. Most were unhealthy and several had told me that they were unhappy.

Within months I walked away from from a 7-figure salary, moved my family to Boulder, & haven’t looked back. Don’t get me wrong, I’m a capitalist & like money as much as anyone. But for me it's not the thing, and *more of the wrong thing is less*.
FINANCE , VISION
Subhadip Nandy
Subhadip Nandy
@SubhadipNandy16
Rule 4 : If buying a naked option, always ensure that implied volatility is low. This can be understood from the level of IV vis a vis historical IV levels. Use IVR or IVP etc.
For a naked option to make money, it's better if IV rises or at least stays flat.


This is a thread I wrote on IV, IVR etc
FINANCE
Shuchi Nahar
Shuchi Nahar
@shuchi_nahar
To understand Financial Shenanigans & detect accounting manipulations from Annual Reports with checklist
In detail and lucid terms

Financial Shenanigans
(Part-1)
https://t.co/wa6HSElug0

(Part-2)
https://t.co/Vrva17GvgP

(Part-3)
https://t.co/XuziOCDHL2

@dmuthuk @ms89_meet
FINANCE , ACCOUNTING AMP FINANCIAL STATEMENTS

You May Also Like

Lu_lu\U0001f498
Lu_lu💘
@luciame16
Some thoughts on episode 53 of #Hercai

Love,that is not real,has no passion. Its fire turns into embers, it doesn’t not smell. The day, the night, the moon&year burn without sun, light, comfort&sleep.
Ömer Hayyam

#Reyyan #Miran #ReyMir #EbruŞahin #AkınAkınözü
#HercaiThoughts


1
PRAISE
The praise in this episode goes foremost to Ebru because she portrayed Reyyan so realistically like a woman who truly lost her unborn child. I was in awe and pain watching her along the episode, all her breakdowns and tears were so real.
#Hercai

2
Of course also Akın took his part and did his part masterfully, but he rightfully was the one who stood aside in this specific episode that needed to be about Reyyan’s pain and thus concentrated on Ebru.
#Hercai

3
And last but not least, if I say thank you to something that B gave us this year, then it’s to have Ali as our director. Also in this episode we saw the artistic eye behind every shot and I loved it.
#Hercai

4
OVERALL COMMENT
I don’t know who wrote ep. 52 but ep. 53 was going strong once more on symbols: roses, stones, fire and trees were incorporated and especially the ReyMir dialogues were written very well. I truly loved every ReyMir scene.
So let's get into it.
#Hercai
CULTURE
Anu Satheesh \U0001f1ee\U0001f1f3
Anu Satheesh 🇮🇳...
@AnuSatheesh5
Mangottu Bhagavathi Temple
#Palakkad #Kerala
#keralatemples 🚩

Mangottu Bhagavathi Temple is situated in Athipotta near Alathur of palakkad district. Devi is kshipraprasadi here and grants relief to those who worship with full faith.
Mookken Chathen, situated on the Northern 👇


side of the temple, is guarding Devi here.
Story says that, once there lived a weaver named Kuttan who was a Devi Bhaktan. During one festival time Kuttan was so pleased by the Devi Vigraham that he requested her to come along with him. At that time wind blew heavily and Cloths


in Vigraham flew. Kuttan immediately decorated Devi with his cloth which stuck to Vigraham and returned to his village and with his Umbrella. Devi came with him in that Umbrella and stayed in his place. This place is Mangottu Bhagavathi temple now.

Amme Narayana
🙏🕉🙏
ALL
Advertisement
\uc2e0\ub150\uc758\uc0ac\ub098\uc774
신념의사나이...
@Belposto_korea
The RV and the Redemption Funds.

ALL Exchanged Currencies as well as all Zim Redemption funds will be placed in the accounts they set up in the Quantum Financial System./1

Absolutely none of these funds will be placed in a Bank at the redemption appointment. Bank computers cannot be programmed to transfer Digital Gold Certificates./2

The QFS can and will transplant funds into a bank account as has been explained earlier,/3

so a person can transfer funds to their own bank account but the desirability will become less and less as the banks go into receivership and their customer’s deposits are confiscated to avoid the Bank’s demise./4

Which bank can compete with the QFS when the QFS is free, secure, private, and stable? One of the major problems in the transition will be the use of Debit Cards for merchant purchases. Will VISA or Mastercard be available?/5
FINANCE
Maurice Casey
Maurice Casey
@MauriceJCasey
I am reading through reams of late-1920s communist poetry and easily my favourite title so far is: "To a Lady who Rejected a Poem about Spring as a Petit-Bourgeois Deviation"

The last lines:
"So here's my hat into the air,
Three cheers for your amazing hair,
For coal mines, and for turbines, too,
For steel, the Comintern and you!"

A not exactly graceful (though possibly satirical) title: "Lines Disassociating Myself from Yessenin and Supporting the Otherwise Unfounded Legend that I am a Foremost Proletarian Writer"

An excerpt:
"Goodbye verses of Yessenin
Goodbye literary slop-
You are not the line of Lenin
You are not the line of WAPP

Never shall I moan a
simple lyric from the heart
I'll devote my new corona
to the proletarian art"

The poet was Joseph Freeman, who published much of his revolutionary verse in the New Masses, a stylish journal of the interwar American literary Left.
CULTURE
Anu Satheesh \U0001f1ee\U0001f1f3
Anu Satheesh 🇮🇳...
@AnuSatheesh5
Mangottu Bhagavathi Temple
#Palakkad #Kerala
#keralatemples 🚩

Mangottu Bhagavathi Temple is situated in Athipotta near Alathur of palakkad district. Devi is kshipraprasadi here and grants relief to those who worship with full faith.
Mookken Chathen, situated on the Northern 👇


side of the temple, is guarding Devi here.
Story says that, once there lived a weaver named Kuttan who was a Devi Bhaktan. During one festival time Kuttan was so pleased by the Devi Vigraham that he requested her to come along with him. At that time wind blew heavily and Cloths


in Vigraham flew. Kuttan immediately decorated Devi with his cloth which stuck to Vigraham and returned to his village and with his Umbrella. Devi came with him in that Umbrella and stayed in his place. This place is Mangottu Bhagavathi temple now.

Amme Narayana
🙏🕉🙏
ALL