Tuesday, October 29, 2024
New Proofs
Infinite Money Glitch
"JPMorgan begins suing customers who allegedly stole thousands of dollars in 'infinite money glitch'"
JPMorgan Chase has begun suing customers who allegedly stole thousands of dollars from ATMs by taking advantage of a technical glitch that allowed them to withdraw funds before a check bounced...
The infinite money glitch episode highlights the risk that social media can amplify vulnerabilities discovered at a financial institution. Videos began circulating in late August showing people celebrating the withdrawal of wads of cash from Chase ATMs shortly after bad checks were deposited.
Monday, October 28, 2024
Friday, October 25, 2024
Conflict In Literature
"Conflict in Literature (Or: How I Became a Meme)"
I like the original cartoon. But I think the spinoffs are pretty good, including the Daffy Duck version!
Thursday, October 24, 2024
Wednesday, October 23, 2024
Tuesday, October 22, 2024
Monday, October 21, 2024
Investing Knowing The Future Headlines
WSJ: "Would a Time Machine Make You a Great Investor? According to some experiments, the answer is "no":
The latest is the “Crystal Ball Trading Game.” Players are given $1 million in play money and are shown 15 Journal front pages following big economic news randomly selected over the past 15 years. With up to 50 times leverage, multiplying that pot of money sounds like shooting fish in a barrel. Yet it wasn’t, and many players instead shot themselves in the foot. Through Thursday, more than 8,000 mostly financially savvy players had taken a crack at the game. Their median ending wealth after 15 rounds was just $687,986 according to data provided by Elm. Many lost everything.
Here is a non-paywall link.
Friday, October 18, 2024
Thursday, October 17, 2024
Waffle House Storm Center
"Waffle House has its own hurricane index and storm center". (From last week.)
The chain also developed the Waffle House Storm Index, which was started after former FEMA Administrator Craig Fugate said, “If you get there and the Waffle House is closed? That's really bad. That's where you go to work.”
Waffle House has labeled Milton, a Category 4 storm, as a "Code Red," which means the company has closed its locations in the path of the storm. A "Yellow" rating means that the location will have a limited menu and that the area might not have power. A "Green" index means the store is operating as normal.