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How To Fade CNBC for Fun and Trading Profits 12/16/22

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Cigarettes produce "butts."

Joints produce "roaches."

Which is funny, I guess, since this farm is located on "Butts Canyon Road."

What goes on behind the high fences & tarp-lined chainlink suggests that this property would be more properly listed on "Roach Canyon Road."

But in fairness, that wouldn't be a very nice address now, would it. My parents lived in New Orleans in the late 1950s, and the stories they told about roaches... my, oh my. Big and a-plenty.  I've dealt with mice & rats, but not really roaches in any great number... well, except when I was an undergrad (snark).

 Nearly 25 acres, with a 3/2 in need of work, but which also...

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includes a cannabis license approved by the State and Lake County. 

Pre-legalization, the property transacted for $295,000.

Initial listing after the most recent harvest, on November 17, 2022, was for $899,000.

They must grow some mind-blowing good shit, because that asking strikes me as preposterous.

About 10 days after listing, and maybe after sellers had evidently smoked more-than-their-fair-share of this season's harvest, they remembered to listen to the voicemails from the listing agent, asking for them to call back... which they did... and after some back & forth, they agreed to a price cut and current asking of....

$875,000.

All the photos are there. PVC greenhouse structures with juveniles in pots beginning around Photo #40; flourishing crop beginning at Photo #51; in situ wind-netting beginning at Photo #57; glamour shots at #61 & #62.

https://www.redfin.com/CA/Middletown/19303-Butts-Canyon-Rd-95461/home/45652299

Not going to secure asking, methinks....

 

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1 hour ago, Jimi said:

Cigarettes produce "butts."

Joints produce "roaches."

Which is funny, I guess, since this farm is located on "Butts Canyon Road."

What goes on behind the high fences & tarp-lined chainlink suggests that this property would be more properly listed on "Roach Canyon Road."

But in fairness, that wouldn't be a very nice address now, would it. My parents lived in New Orleans in the late 1950s, and the stories they told about roaches... my, oh my. Big and a-plenty.  I've dealt with mice & rats, but not really roaches in any great number... well, except when I was an undergrad (snark).

 Nearly 25 acres, with a 3/2 in need of work, but which also...

Pre-legalization, the property transacted for $295,000.

Initial listing after the most recent harvest, on November 17, 2022, was for $899,000.

They must grow some mind-blowing good shit, because that asking strikes me as preposterous.

About 10 days after listing, and maybe after sellers had evidently smoked more-than-their-fair-share of this season's harvest, they remembered to listen to the voicemails from the listing agent, asking for them to call back... which they did... and after some back & forth, they agreed to a price cut and current asking of....

$875,000.

All the photos are there. PVC greenhouse structures with juveniles in pots beginning around Photo #40; flourishing crop beginning at Photo #51; in situ wind-netting beginning at Photo #57; glamour shots at #61 & #62.

https://www.redfin.com/CA/Middletown/19303-Butts-Canyon-Rd-95461/home/45652299

Not going to secure asking, methinks....

 

😂

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1 hour ago, sandy beach said:

 

Who owns the mezzanine on the collateralized debt obligations? Lights out in first half of 2023. We're looking at a structured finance weapons of mass destruction - 50-60% recovery when this is over.

Pretty sure if the problem is large enough, it'll turn out US taxpayers own this....

 

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Friday supplement.

"Wow... man!  That thing earlier...! You know... 'Roach Canyon'... that was some funny stony stuff!  Oh, man... you know what!? Like, all street names should be linked to properties! So, like fat people could live on... 'Hog Lane'! Oh man, and short people could live on... 'Dwarf Road'!  And us stoners could live on... on... uhhh... oh, man! I know!! They could live on...!"

https://www.redfin.com/CA/BERRY-CREEK/MANN-AVE-95916/home/45592270

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The problems of crypto remind me of the problems of subprime loans and CDOs - no one knew who bought them, who had what losses because of which panic spread. Unfortunately there is no CBs to save this market & crypto has not developed its own value apart from speculative value. Since November 2021, total crypto capitalisation has fallen over 70% from $2.9T to $790B. However, this is still 789 times higher than 2014 ($1B)

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1 hour ago, SiP said:

The problems of crypto remind me of the problems of subprime loans and CDOs - no one knew who bought them, who had what losses because of which panic spread. Unfortunately there is no CBs to save this market & crypto has not developed its own value apart from speculative value. Since November 2021, total crypto capitalisation has fallen over 70% from $2.9T to $790B. However, this is still 789 times higher than 2014 ($1B)

The CB‘s will not save the crypto bagholders. The breakdown of crypto is seen as collateral damage and it is welcome, although the CB‘s don‘t talk about that in public.

The SEC gives a good regulatory framework for stock holders, but it refused to regulate crypto. That was the message to the public, but at times of unlimited liquidity folks dont wanna listen.

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