Good morning, all. It’s Frrrrriiiiddddaaayyyy!!!
I don’t know if you have been following the GameStop scenario on Wall St. but it is certainly fascinating and much too involved to write about in this space. For a synopsis, as of Thursday afternoon, click here. What we do know is that hedge funds have lost billions so far in short trading, a perfectly legal action undertaken by some savvy, small time investors, who are taking on the big spenders. And that leads us to the new owner of the Mets, Steve Cohen, who also owns Point72 Asset Management, a hedge fund that has helped him boost his net worth to $14.6 billion.
Mets fans have reveled in Cohen’s actions so far, as he opens his wallet to rebuild the ballclub. But the NY Post reports his hedge fund is down 10 percent since the start of the new year.
Need not worry, stated Cohen on his Twitter account. He also tried to settle the nerves of some anxious Mets’ fans.
If anything, the people who may have some nerves are the owners of the app Robinhood, who accelerated the GameStop frenzy, before putting a stop to trading on the stock. Both GOP Sen. Ted Cruz and Dem. Representative Alexandria Ocasio-Cortez were actually on the same page.
For a minute, I thought we might have some “unity,” but the congresswoman from New York put an end to that with her subsequent comments. Oh well. Will the Mets sign Trevor Bauer?
Those nasty sports fees
Not to continue my drum beating on sports and cable television fees but the website TechHive has an interesting piece about our cable television bills. Seems the Congress passed a cable-bill transparency law in 2019, making it easier for you to decode your monthly statement. Not! A deep dive by the website into those bills demonstrated fees for sports channels are being buried. Subscribers to new packages are especially forewarned.
These companies are advertising monthly fees, including internet for $79.99, but as TechHive points out the monthly bills are much higher than that, thanks to those sports packages that are hidden in the fine print. Where’s the advocate for the consumer U.S. Sen. Richard Blumenthal when you need him?
Fox Sports has a goal
There are reports that Fox Sports wants back in with the NHL. The league’s decade-long contract with NBC expires after this season. Even though the network is shutting down NBCSN, word is it still wants part of the NHL and the league has talked about parceling out its coverage to various networks. If this happens, of course, guess who will pay for it? Yep, read that fine print in your cable bill.
The ice may be cold, but apparently among the networks the NHL is hot.
Norman puts house on the market
After you’re done paying your cable television bill you might have money left over to buy Greg Norman’s house. The pro golfer has just listed his 31,800 square foot estate in Jupiter, FL for $59.9 million. The house includes 10 bedrooms, 12 bathrooms and six half bathrooms. Apparently Norman wants no arguing over whose turn is next.
So, happy house hunting and maybe you can get the joint for $55 mil.
In the meantime, thank you for your support and have a great weekend.