2011.02.17 21:37 JunkInTheTrunk Tarantulas: Everything about our favorite creepy crawlies!
2019.09.19 23:42 StoneColdCrazzzy TransitDiagrams
2011.10.05 03:19 asgard88 Cross section pictures (and videos) of everything!
2024.05.16 18:56 Historical_Agent2947 In search of big areolas
2024.05.16 18:14 LowAd6457 [AP Physics: Hard]
Is my free body diagram correct? (Look at the first to photos for the context of the question and the last picture for my FBD). submitted by LowAd6457 to HomeworkHelp [link] [comments] |
2024.05.16 16:58 East_Alternative_538 Best Porn Subs 2024
2024.05.16 14:59 Emergency-Stop-9101 Wire diagram / pin outs for XXX Nucular motor controller kit. NEED HELP PLZ 🙏
2024.05.16 08:44 Hot_Attorney6464 Senix CS4QL-L1 4 stroke chainsaw
2024.05.16 01:10 acousticentropy How can I visualize polar pickup patterns in the real world for various mics?
2024.05.16 00:04 jordanh7074 [Static][TEA][5 of 8]
2024.05.15 22:49 EmbarrassedWeeb3614 Question about CRT tuning
I picked up a Sony Trinitron KV 1207 in pretty great condition. It's my first CRT as an adult (i.e. caring about picture quality) submitted by EmbarrassedWeeb3614 to crtgaming [link] [comments] Every component performs as expected, and right now I'm interested in using it with an HDMI-RF modulator for watching old movies. I picked a 90s anime (One Piece) to see how subtitles perform, and I have an interesting issue. I know I shouldn't expect much clarity from this screen for things like small text, but it's so close to being tolerable that I might even be able to enjoy some classic subbed anime on it as well as more typical content. My question for the forum comes from tuning. When I adjust the focus, it brings the visible RGB into alignment for a nice white color for the text. However, it makes it too blurry to really be legible. Yet when the focus is off, and the colors can be seen individually, its somehow sharp enough to read? (Albeit still pretty hard due to the ghosting/layer overlaps) Is this something I can correct? Or is it a limitation of the technology? I opened the cabinet to dust it and inspect it, and saw there are 2 additional tuning potentiometers next to the RGB ones that you can't adjust from the outside of the cabinet, as well as a diagram on the inside of the cabinet (things really were made better back in the da). Should I bother adjusting any of these other settings? Or even adjusting the RGB levels? I'm happy-ish with the output, especially if those more experienced than me say I can't have my cake and eat it too with clarity on these old tubes. I haven't done any color tuning and I don't have any special equipment on hand. But if I can get this to output any better than it already does, then I'll be super stoked |
2024.05.15 19:37 harinedzumi_art Gwah-chugyoh [newts]
Newts [Gwah-chugyoh in the Swamp Language] are a fairly numerous nation living in the East of the Small World. The natural areola of their habitat was 3 Great Swamps, but the historical areola includes forests, mountains and valleys adjacent to the Swamps. submitted by harinedzumi_art to theSmall_World [link] [comments] It is not known when exactly newts appeared as a species. The first mention of them appears in the annals of the Mao dynasty [12th century aTwbW], but their sufficiently high level of development at that time indicates a long existence. Referring to the development of cultures of other nations, historians suggest that the first real newts appeared in the 4th-2nd centuries bTwbW. A curious phenomenon is the physiology of newts was probably fully formed in the 1st millennium aTwbW and has not changed until now. Thus, the newts are one of the few nations [others are gerbils and rats] that has a completely natural origin, which does not include evolutionary changes that occur as a result of the development of civilization. This is explained by the place of newts in the evolutionary chain. Biologically, the newt is a swamp alpha predator. Solid physical performance, the highest intelligence, pack lifestyle, using of primitive tools and a strong hunting instinct allowed newts to dominate their habitat without the development of technologies. In fact, advanced technologies have only complemented this picture, without changing it in any way. The average life expectancy of a newt is 60-75 years (one of the longest in the Small World). At the same time, newts mature early, a 4yo newt is already fully grown. Females rarely give birth to only one cub, and the average pair of newts usually has 8-12 cubs. A huge birth rate is balanced by a high rating of premature mortality. The real average life expectancy of a newt does not exceed 40 years. 50yo newts are considered old, 60yo and more considered venerable elders. Newts have a light muscular body with a long neck and tail, but short paws. There is an obvious evolutionary bias towards the trunk, tail and hind paws. The front paws are weak, but at the same time they are very agile and have developed fine motor skills. Thus, newts are great runners, but bad arm wrestlers. The spine, neck and tail of the newt are extremely strong. With a blow of the tail, a newt can seriously injur a relative or an adult frog. Starting from the ground with the tail and hind paws, an average newt can jump 10-15 steps in length and from 2 to 3 of its own height. The muscles and bones allow the newt to fly headfirst into the wall with a run without breaking his/her neck. At the same time, the tail and neck of a newt contains many vital arteries and nerve endings and are therefore vulnerable for deep cuts. The skull of the newt is very tough and easily withstands the blows of a stone or a club. Jaws and teeth allow the newt to tear the meat from the bodies and gnaw the bones. In a fight with an opponent of equal size, the newt can use the skull and teeth as weapons [for example, a strong blow of the head can break a frog's front paw, and a ramming blow from a running start is guaranteed to break the ribs] The fine motor skills of the front paws allow the newt to easily perform card tricks, juggle small objects or throw small stones very accurately. At the same time, the grip of the front paws is quite weak, and the newt may not have enough strength to lift either heavy stones or logs. Gender demorphism in newts is rather weakly expressed. Females are, on average, somewhat lighter and weaker than males, but also somewhat more agile and hardier. Psychological differences are also insignificant, and female soldiers or hunters are not inferior to males in any way [this allows newts to mobilize a huge number of recruits if necessary] The digestive system of the newt is ideally adapted for digesting a huge amount of animal food. Newts can eat meat, offal, bones, etc. Algae and roots, consumed by newts constantly in huge quantities, serve as a natural aid to digestion. Newts can eat rotten meat, their liver supplies the blood with a huge amount of antitoxins. For the same reason, newts rarely get sick. The more newt eats meat, the stronger his/her health. And vice versa. Of all the senses, newts have the best developed eyesight and hearing. Newt sees small objects on the ground at a distance of up to 5-6 li. Newt's eyes see perfectly in the dark and are able to accurately estimate the distance to an object. Thanks to their vision and fine motor skills, newts are excellent shooters. The distance of hearing is comparable to the distance of vision. By the sound of footsteps, the newt is able to determine the size of an object. And nowadays newts are able to determine the type of projectile by the sound in the air. The sense of smell is poorly developed, most likely this is a consequence of a partially scavenger lifestyle [in addition to hunting, newts took prey from other swamp predators] But an additional feeling that makes newts really dangerous opponents is their intuition. Newt is able to sense danger without any obvious signs of it. In ancient times, it helped newts to hunt swamp predators. And nowadays it helps the newts to leave the place of arrival of enemy shells in advance, act in a smoke screen, to shoot blind and hide from return fire... In fact, on the battlefield, newt relies on the instincts, not the mind. However, it was newt's intelligence that made them the pinnacle of the evolution of swamp life forms. Newts are incredibly intelligent, curious and constantly learning. And newts are never afraid of the new or the unknown, in the swamps, the unknown is a common thing. Having met something unfamiliar, newt will try to understand it. Having understood, he/she will try to remember it and will definitely tell others about it. After discussing the find, the newts will try to find a use for it. Therefore, newts are open-minded and often act unpredictably. For a newt, any plan is just a sketch, and he/she will never follow it exactly. The more new information will appear, the more the plan will change, up to complete unrecognizability. Because of this, hunting turns into research, research into a treasure hunt, treasure discovery turns into a fight, and a fight turns into a cover-up of a crime. Yes, being predators, newts are naturally cruel. Killing another newt is as easy for them as killing prey on the hunt. And crimes such as robbery or theft are not considered by them as something serious at all. In fact, due to the long tribal lifestyle, there is a clear separation between the "family" and everyone else for the newts. Violence within the "family" is condemned, outside the family is not prohibited in any way, and sometimes even encouraged. Therefore, a newt can adore his/her own nephews, and without any probs finish off exactly the same age cubs, meeting them in the swamp. Nothing, not a developed judicial system, not even the Teaching of Great Humility, has helped to completely get rid of this "feature" of the newt's psychology. It is important to understand that for newts, the concept of "family" doesn't mean family by itself. Newt "family" is something between a commonwealth, a brotherhood and a clan. The "family" can include both real relatives and newts who are not related by blood, but have declared themselves relatives. In both cases, they are considered equivalent family members. Conversely, a blood relative who shows disrespect to the family will be permanently expelled... or just killed. Family sizes can be anything from 15-20 newts for small peasant families to hundreds of newts in Military Families or criminal gangs. Sometimes all the members of the "family" live together, sometimes not [for example, members of trading families see each other infrequently] But generally it doesn't matter, family members are obliged to support and help each other. They send money to each other, help solve problems, do business together, etc. And of course, helping a family member is the most important thing. Even if the newt ate the cubs alive and dismembered their parents, his/her family will help him/her escape justice by any possible means. Elders enjoy special respect in the family, as they accumulate experience and knowledge and pass it on to the young. Having a family is essential for newts. A lonely newt is considered inferior, since there is no one to protect him/her, and someone else's family will easily do whatever they want with him/her. Therefore, newts declare themselves brothers/sisters at any opportunity. This feature is especially important during the warfare, since newt can hardly rely on help of his/her comrades in critical moments if they are not his/her brothers/sisters. In general, the nature of newts makes them almost ideal soldiers and ensures the relative safety of the Swampland as a state. On the other hand, the society of newts is naturally unstable, and maintaining relative peace within the state costs the government enormous efforts. "Newts? [scratching the skin on his neck] No, I wouldn't want to face them on the battlefield. I'd rather they were on my side like she is [nods to the armed bodyguard newt, dozing, leaning against a column] In the current conditions, I simply don't see an optimal way to win this war. And I have no right or power to throw my soldiers into the meat grinder along with those who were born to get there [points at the bodyguard, who opens one eye and grins in a smile] Therefore, with all due and respect, I have to decline your request... What? [listens] Oh, I understand, but this is barely my problem. Someone has miscalculated very badly, so let this someone, not me, fight against the newts. You might as well have climbed into Yun-maa hell and started a war against the imps there [bodyguard laughs soundlessly and barely nods] So who is to blame for the fact that the imps are now grinding your troops into bloody mincemeat?? No, I better stand on my ground [smiles] But I wish a best luck to the Pacification Army." © Wong-ma Tao-zhu, Tai-Tung commander of the Shinhuo province. From his response to the official envoys of the Unity Council to the request to join the war against the Swampland. |
2024.05.15 18:37 un_bel_di Big future for SLOTH—Elliott Waves show the path.
Over the past few days, I have been giving market comments and chart analysis for SLOTH in various posts. I explained that markets move up in five waves and then down in three. I drew diagrams showing the waves up from the very bottom of 0.006, after the big down trend post-launch. We had reached the top of wave three and were trading around 0.03, when I proposed that wave five could take the market to perhaps 13 cents. In one reply, the question was raised what happens after wave five? I answered, and we saw the result last night. A big correction. Now, I couldn’t know exactly when this would happen, at which level of wave five, but gave some possibilities from Fibonacci analysis. One of those levels was hit yesterday in the 5 cent area, and the market started correcting. Initially this seemed to be fairly mild, and I had an idea for explanation, which turned out wrong, because later the market plunged even further. This morning it became clear that wave five had been completed and we were in the major correction, I had proposed. It was a picture perfect correction. Textbook, as they say. It retraced the market by almost exactly 61.8% on the logarithmic scale, which is a standard amount in this situation. The five waves up comprise a new wave 1, and the correction is wave 2, and the cycle repeats in one higher degree of waves. That is the nature of all traded markets, and in fact it is the nature of human progress. Sloth is now trading in wave three, the most powerful of all waves. What is the potential for this wave? Elliott Wave theory also has an answer. It is the 1.618 multiple of the size of wave one. The Golden Ratio. Like all beautiful things. Using standard Fibonacci tools, we can draw a ladder of price levels of potential targets. The punch line is that the 1.618 level points to the ONE DOLLAR region. One dollar SLOTH. No one can guarantee that of course, who knows what might happen tomorrow even. But the potential is right there in the chart. I call this the Genesis wave of a new market, its first wave, for it sets a unit of measurement for the near future. Luckily, we seem to have great support from the broader crypto market right now. BTC is up big today, and Solana, our native currency, follows suit. This should provide nice power for SLOTH as well. And look how nicely it is already recovering from the night. The power of the third wave. submitted by un_bel_di to Slothana [link] [comments] |
2024.05.15 17:53 xisib 2013 Camry L 2.5L
I was wondering if anybody has pictures on the A1/A2 ground on the driver side fender? Got into an accident and chewed up the grounds got it running but have ABS/ trac control and brake light on with open circuit, also have my MAF sensor P0102 change the MAF sensor still throws same code, after research I’ve seen these 2 ground will cause this to happen but do not have a great diagram or picture of them please refer to my picture of the grounds I’m talking about submitted by xisib to Camry [link] [comments] |
2024.05.15 17:01 yoln77 How to remove bearings from Bitex BX106F front hub?
Trying to take down the hub service and replace the 6902 bearings on this bitex bx-106-f hub, but can’t seem to get the bearings out after having removed both caps. Any tips or idea? submitted by yoln77 to bikewrench [link] [comments] Added pictures of both sides plus the diagram of the hub |
2024.05.15 15:15 SheepGud Chua's circuit not working
2024.05.15 15:08 WhatCanIMakeToday Operational Efficiency Shares: Rehypothecating 🐇🐇🐇🐇 And Breaking Free Of Chains [WalkThrough] (4/n)
From the prior DD in this series [1], we know that ComputerShare can “give” the DTC registered DSPP shares to hold onto for operational efficiency which are then “given back” as shares beneficially owned “for the benefit of” (“FBO”) DSPP Plan Participants at ComputerShare, as illustrated in this diagram: submitted by WhatCanIMakeToday to Superstonk [link] [comments] From The Prerequisite DD It’s time to explore what “operational efficiency” benefits may be gained by DSPP shares going around this roundabout. At first glance, shares are basically just going in a big circle from DSPP Plan Participants with registered ownership DSPP shares at ComputerShare heading to the DTC, who hands shares to ComputerShare’s broker who maintains those shares for the benefit of ComputerShare who holds those shares for the benefit of Plan Participants. While I think it’s unlikely that shares just go around in a big fat circle for no reason, I do remember people getting onto flights to literally go nowhere a few years ago [CNN, NYT]; so maybe these operational efficiency shares simply miss hanging out at the DTC? Let’s look more closely… While title is held by a registered DSPP Plan Participant, ComputerShare is giving the DTC possession [1] of registered DSPP shares to the DTC to hold for operational efficiency which then ultimately end back in the possession of ComputerShare’s broker (who isn’t lending out shares) for the benefit of ComputerShare for the benefit of Plan Participants. If we treat the DTC’s operations as a big black box, we see registered shares going into the DTC black box and beneficially owned shares coming out of the black box to ComputerShare for Plan Participants. DTCC Black Box: Inputs vs Outputs Investopedia says that shareholders have rights, with a list of 6 main rights including:
§ 240.13d-3 Determination of beneficial owner.ComputerShare basically confirms this list (except for the right to sue as that’s probably not one their issuer customers would emphasize) and adds that beneficially held shares may be lent by brokers generally (but not by ComputerShare’s broker). Registered Shareholder Rights vs Beneficial Owner Rights Maybe you’ve had different experiences from me, but I’ve never known Wall St to deliver more than the bare minimum they’re contractually obligated to. Which means the DTC black box is very likely watering down shareholder rights from the 6 that go in down to the 2 which come out. (And yet, we’re supposed to believe that all shares are equal. 🙄) Dividends (#4 on the list) [2] may be the clearest example of a watered down shareholder right. Registered shareholders have the right “to directly receive share dividends” [CS FAQ] which means if a company (e.g., GameStop or OverStock) issues a dividend, registered shareholders have the right to directly receive the dividend as issued. If the company issues a crypto dividend (as OverStock tried to do), registered shareholders have the right to directly receive the issued crypto dividend. Beneficial shareholders would get an issued dividend, if available, or a cash equivalent if not. Historically, stock and other dividends to beneficial shareholders could easily be delivered as a cash equivalent, a watered down form. Crypto dividends don’t scale well with shorts (both naked and legal via, for example, share lending and borrowing) because crypto tokens are unique which makes it abundantly clear why a crypto dividend was nixed for a heavily shorted idiosyncratic stock like GameStop; especially given GameStop’s particularly active shareholders. Ownership (#2 on the list) may be the second clearest example of a watered down shareholder right as more security interests to shares exist in the DTC’s beneficial ownership system than there are shares; with the SEC saying beneficial shares get a pro rata interest in the securities of that issue held by DTC. [See End Game Part Deux: Problems at the DTCC plus The Bigger Picture, particularly the section “The Pie Is Shrinking: Get Out (And DRS) While You Can”] Voting (#1 on the list) is also an example watered down shareholder right; this one having a long history on this sub with, for example, BroadRidge tossing 7B votes and bragging about it. (Beneficial owners only need to get shared voting rights per Rule 13d-3 above so those 7B “shared” votes just lost out to who they shared with.) Unlike other beneficially held shares, voting rights for DSPP shares are not watered down as ComputerShare sends registered holders their voting forms. Operational Efficiency Shares, Whatcha Doing In There?A big black box is a pretty good description of the DTC which does not want us to know the ins and outs of what’s going on. Black holes are a pretty good example of a big black box and, most importantly, we know a lot about black holes even though they can’t be directly observed. Just as we learned about black holes without direct observation, we can similarly learn a lot about the Operational Efficiency shares even though we can’t directly observe them in the DTC habitat.Even though we can’t look inside the DTC’s big black box, it turns out we don’t really have to in order to identify some benefits from these operational efficiency shares taking their roundabout trip to nowhere. Locates A few commenters have suggested that OE shares could be used for locates so I’ll address this first. Possible, yes. But I don’t view this as the most interesting use for OE shares. Brokers are supposed to “locate” securities available for borrowing before short selling. [Wikipedia)] Basically, before selling short a broker is supposed to find a source to borrow. The “locate” requirement does NOT require the security to be borrowed before short selling which can result in a legal naked short. You may be wondering why I don’t view “locates” as particularly interesting for OE shares if short sellers need to locate shares to borrow before shorting. Well, market makers are also exempt from this requirement as long as they’re market making. 🙄 On top of the market maker exemption, remember House Of Cards? In House Of Cards 3 [SuperStonk], we learned about the now 🤦♂️ hilarious F**3 key **- yeah, the one on a keyboard. Brokers like Goldman found the locate requirement simply too much work so they would press the F3 key and their system would auto-approve the locate requirement based only on the number of shares available to borrow at the beginning of the day; regardless of whether those shares were still available to borrow or not. House Of Cards 3 Meaning as long as there were some shares available to borrow at the beginning of the day for their share copying system, brokers could just smash the F3 key to make as many copies of shares as they need. Even if only 1 share was available to borrow at the beginning of the day, a broker could simply smash the F3 key 100 times to approve the locate requirement for 100 shares. So while OE shares could be used for locates, they wouldn’t need many shares each day to make an unlimited number of copies - even just 1 is enough. Lending shares on the other hand… Rehypothecation Rehypothecation is the reuse of customer collateral for lending. Per a 2010 IMF Working Paper, The (sizable) Role of Rehypothecation in the Shadow Banking System, Rehypothecation occurs when the collateral posted by a prime brokerage client (e.g., hedge fund) to its prime broker is used as collateral also by the prime broker for its own purposes.This IMF paper defined a “churning factor” to measure how many times an asset may be reused; and then estimated a churning factor of 4 noting that it could be higher because international banks (e.g., HSBC and Nomura) were not sampled. This IMF paper found a single asset may be lent and borrowed 4 times, or more; an average which could be higher globally. https://preview.redd.it/ymr3j03zri0d1.png?width=795&format=png&auto=webp&s=1555314cefd520658a4f78dc4745867063e3bf34 Churn Factor Could Be Higher Globally How much higher? We may have seen a churn factor as high as 10 for a less idiosyncratic meme stock per my prior post, Estimating Excess GME Share Liquidity From Borrow Data & Churn Factor. Presumably, the idiosyncratic meme stock would have a higher churn factor (but not that important for this post). More recently (2018), the Federal Reserve published this Fed Note on The Ins and Outs of Collateral Re-use studying how often collateral is reused (i.e., rehypothecated) for Treasury & non-Treasury securities [3] with a beautiful figure illustrating how “for any given moment in time, one security can be attributed to multiple financial transactions” where a share could be posted multiple times through Security Financing Transactions (SFTs) and sold short. [4] Sounds familiar, right? https://preview.redd.it/zsztmji4si0d1.png?width=1530&format=png&auto=webp&s=f222dfe50929f668af8f8f0b39514a7d862db9c9 Figure 6c of this Fed Note shows a Collateral Multiplier over time illustrating how “PDs [Primary Dealers] currently re-use about three times as many securities as they own for non-Treasury collateral and seven times as many securities as they own for U.S. Treasury securities”. AKA \"Money Multiplier\" The Fed Note describes their Collateral Multiplier as a “money multiplier” (Seriously, I couldn’t have made this up in a million years.), In a sense, our Collateral Multiplier is akin to a "money multiplier," as it compares private liabilities created by a firm with the amount of specific assets held to create those liabilities. [The Ins and Outs of Collateral Re-use]And, of course, the Collateral Multiplier aka “money multiplier” ratio goes up when there’s less collateral available and down when there’s more collateral available. (Can I get one of these multipliers?) Intuitively, we expect the ratio to increase when collateral is scarce and to decrease when collateral is more abundant.Which means Primary Dealers [Wikipedia has a list of familiar names including Deutsche Bank, JP Morgan, Morgan Stanley, Nomura, BofA, Citigroup, TD, UBS, and Wells Fargo; amongst others] can simply kick securities around a few extra times (e.g., with SFTs and short sells) to effectively multiply the amount of money and/or collateral they have any time they need it. (Within limits, I hope…) Thus, rehypothecation is a very interesting use of Operational Efficiency shares from ComputerShare as various primary dealers can simply “multiply” the number of shares they have – a concept that we’re already quite familiar with. As rehypothecation, short sells, and securities financing transactions are all perfectly legal, rehypothecating more GameStop shares provided to the DTC via operational efficiency satisfies Ground Rule #2 [defined in (1/n) in this series], We can update our conceptual model to include rehypothecation to more clearly illustrate how Operational Efficiency shares held in the DTC can be rehypothecated (e.g., with SFTs and short sells) until a watered down share is delivered to ComputerShare’s broker to hold FBO ComputerShare, who holds the watered down share FBO DSPP Plan Participants. https://preview.redd.it/bt3gnx99si0d1.png?width=4764&format=png&auto=webp&s=7b0b72b935f740e8a3036f88e1a4e1dfb57dd46c You might notice from this illustration that ComputerShare has been telling the truth satisfying Ground Rule #1 [defined in (1/n) in this series]. Neither ComputerShare’s nor their broker lend or need to lend shares. All the rehypothecation happens “upstream” amongst other DTCC and NSCC Participants until shares are finally delivered to ComputerShare’s broker at the end of the “Churn Chain”. ComputerShare has made no representations about what the DTC can or can not do with the shares in their possession. And, realistically, ComputerShare is in no position to make any representations about what happens within the DTCC system – ComputerShare is only responsible for themselves and, to some extent, their broker. The Fed Note and IMF paper found assets may be churned and reused 3-4 times (overall market average) which means the end of the chain is typically around D3 or D4. (If my prior DD estimates are correct, there were signs a less idiosyncratic meme stock may be churned up to 10 times ending the chain at D10 which suggests a potentially longer chain for GME, the idiosyncratic meme stock.) If there is no collateral reuse for an asset, the chain would have zero length meaning Operational Efficiency shares go straight from the DTC directly to ComputerShare’s broker. (Programmers almost certainly understand zero length chains very well – go find one if you need an explanation.) GameStop is idiosyncratic, thus atypical. Per the IMF paper, collateral reuse increases when collateral is scarce and decreases when collateral is abundant (quoted above). If we consider GameStop investors have been direct registering shares (i.e., DRS) and registering shares (e.g., DSPP) thereby removing title and/or possession of shares from the DTC/DTCC/Cede & Co, then GameStop share availability has been becoming more scarce and the “Churn Chain” for GME should be longer than average representing a higher collateral multiplier and churn value. While we may not know the exact length of the Churn Chain for GameStop shares, we can pretty well surmise that it’s not a zero length Churn Chain where there is no collateral reuse based simply on scarcity. After all, a shortage of available shares is, by definition, required for any short squeeze (including MOASS). Requests by brokers to enable Share Lending [5] is another example indicator that GameStop shares are scarce. In addition, according to Investopedia [6], “Banks, brokers, or other financial institutions may navigate a liquidity crunch and access capital by rehypothecating client funds” and we’ve seen indicators showing us banks are in deep trouble:
There are also leverage considerations that increase that risk of default. Overleveraged investments often face covenants; when specific conditions are met, trading accounts may receive a margin call or face debt default. As a row of dominos fall after a single collapse, a single margin call may cause other debts to fail their account maintenance requirements, setting off a chain reaction that places the institution at higher risk of overall default. [6]This risk for rehypothecation sounds exactly like what the Options Clearing Corporation was complaining about to the SEC when the OCC Proposed Reducing Margin Requirements To Prevent A Cascade of Clearing Member Failures [SuperStonk] early 2024. If the OCC can eliminate margin calls, then no dominos get knocked down. (Thankfully, apes have done a phenomenal job in convincing the SEC that this OCC proposal is a very bad idea. Support the SEC’s rejection of this as Simians Smash SEC Rule Proposal To Reduce Margin Requirements To Prevent A Cascade of Clearing Member Failures!) Most importantly, it may be tough to regain possession of an asset when someone in the rehypothecation chain defaults. Remember from the prior DD the expression about possession: Possession is nine-tenths of the law. Clients must be aware of rehypothecation as it is technically their own assets that have been pledged for someone else's debt. This creates complicated creditor issues where an investors shares may longer be in their possession due to their custodian's default. [6]We know assets are rehypothecated 3-4 times on average, GameStop shares are scarce, banks are in trouble, stock loan volume is skyhigh, and the risks of rehypothecation are real. So it’s pretty clear that rehypothecation is happening generally with pretty darn good reason to expect GameStop’s Churn Chain is at least of non-zero length (i.e., GameStop stock is being rehypothecated). Breaking The ChainsWhile some may like chains and being tied up, I’m not one of those apes. Especially as a Churn Chain waters down my shareholder rights and may make regaining possession of DSPP stock difficult in the event of a cascade of defaults, as warned by the OCC. (If you like chains, feel free to skip this section.)As it turns out, we don’t need to know exactly how long the Churn Chain is for GameStop stock. Simply knowing a Churn Chain exists with non-zero length means there is a chain. Where there is a chain, it’s possible to break the chain. (Even if you don’t know how much health) your enemy has in a game, you still try to take your enemy out. Right?) A churn chain that starts from ComputerShare holding DSPP shares in DTC for operational efficiency can easily be broken as “[a]n investor can, at any time, withdraw all or part of their shares in DSPP book-entry form and have them added to their DRS holding”. [ComputerShare] See also [7]. Quite possibly one of the easiest chains in the world to break as the Churn Chain is weak to DRS. Simply DRS the DSPP shares to take away the head of the chain and the rest of the chain falls apart. (And, DRS-ing "street name" shares cuts chains into pieces too!) One side effect of breaking a Churn Chain is that all shares attributed to transactions in a broken chain (e.g., SFTs and short sells) need to be reallocated to other chains, effectively making other chains longer and increasing the risks from a default. Analogy: Think of the shares as a deck of cards. If you deal 52 cards to 4 players (A, B, C and D), each player gets 13 cards. Each stack of 13 cards is basically a Churn Chain. But if you take out a stack by removing the bottom card from A and distribute the remaining 12 cards from A to B, C and D then B, C and D each now have 17 cards. If at any given time a card can cause a player to lose the game, it's better to have fewer cards than more. And, the players who get out early won't lose. Any party in the Churn Chain who defaults will make it hard for the original owner to regain possession. Longer chains include more transactions and more parties so there’s more risk of default on longer chains than shorter chains. Thus we see another vicious cycle setup where incentives are aligned such that DSPP and beneficial shareholders may want to avoid the impending default and rehypothecation risk from their shares being held in DTC. In order to avoid the impending default and rehypothecation risks, shareholders are incentivized to Directly Register shares to ensure having both title and possession. (Shares held in “street name” have little or no protection from rehypothecation risk and simply registering shares in DSPP doesn’t guarantee possession [1].) As with the other vicious cycle, any remaining shareholders in DTC share a shrinking pie of diluted ownership so it is in their best interest to get out and DRS; thereby shrinking the diluted ownership pie even more which is more reason for remaining shareholders to get out. These vicious cycles will eventually leave few, if any, remaining shares at the DTC for beneficial shareholders. Nobody knows what will happen if this ♾️🏊 happens. Footnotes[1] If you haven’t already, please read the prerequisite DD in this WalkThrough Series to understand how ownership of property is separated into two concepts: title and possession. [See, e.g., StackExchange] Understanding the differences between title and possession are particularly important here where it’s worth being extra careful identifying how an entity is in control of an asset.
[3] Footnote 16 of the Fed Note itemizes various classes of non-Treasury collateral which includes equity which, per Investopedia, is a synonym for stocks. [4] While short selling is pretty well known, Security Financing Transactions (SFTs) may be more obscure despite discussion of them in the past so here’s some historical SuperStonk links for you (where you may notice some well known OG DD apes):
[6] https://www.investopedia.com/ REMOVE_FOR_AUTOMOD terms/r REMOVE_FOR_AUTOMOD /rehypothecation.asp [7] Withdrawing whole DSPP shares into DRS seems to make a lot of sense as doing so guarantees possession. Selling fractionals, less so. If you intend to keep buying, I would think adding to the fractionals to later withdraw whole shares makes more sense. As for the concern about fractionals tainting the whole account, I’ll cover that in another post. For now, you do you. |
2024.05.15 14:17 not_neccesarily An Eternity Ago, I Fell Through a Wall and into The Limbo
2024.05.15 14:07 SheepGud Chua's Circuit not working
2024.05.15 12:50 Cold-Journalist-2850 Need help for Raspberry pi 4 trace find
Hi,i've got raspberry pi 8gb rev 1.4 version.as picture A.unfortunately when repairing pmic chip,it's 5th pad is ripped off from board.it is insdise in the pcb.so i gave it to repairman and he said the scraching is risky beacuse if scrach too much it will be damage to layers of pcb..since the only option is retrace the path.pmic MXL-7704 p4 5th pad is damaged. As the pictures photo A (rev 1.4) it's inside on the pcb.However on( rev 1.2 )Photo B have 5th pin's trace on the board.what i need is,if anyone has raspberry pi board like photo B,please give me endpoints of the 5th pin.there is a block diagram for this board.but,it's not full schametic diagram versionwise.i will attach the picture clearly identify the difference of the boards. Tip:Multimerter's continuity mode is enough for the task. submitted by Cold-Journalist-2850 to AskElectronics [link] [comments] |
2024.05.15 07:52 Naive-Contract1341 12 Volt relay switching with Arduino 5 volt but not better/charge controller 12 volt?
Edit:Typo, it should be battery. Btw someone downvoted it without explaining what's wrong with the question. Didn't know that it's stackoverflow. submitted by Naive-Contract1341 to arduino [link] [comments] First of all, this is a college miniproject and I don't have to implement it long-term. So just having it work for a minute or so is enough. I have a 12 volt relay, it JQC3F-12VDC-C. I wish to connect it to charge controller load for switching purposes and the relay load terminals to a better to run a pump. The charge controller will stop supplying current when battery voltage runs too low and thus stop the pump from operating at all. Charge controller has in-built 5 Volt USB port for Arduino. I plan to connect VCC and input of the relay to Charge controller load postitive and Ground to it's negative. Pump will be connected to the "Normally open terminal" so that it can't run when battery voltage falls too low. This causes the power bulb to be on, but no switching action. However, there is switching action when I connect input to Arduino 5 volt terminal. Where could I be going wrong? Here's a picture of the relay: https://preview.redd.it/qil9wpok4j0d1.png?width=657&format=png&auto=webp&s=ab4a81dcc7990c526d2137dd42546e71c68bffe0 https://preview.redd.it/i55wm8ll4j0d1.png?width=768&format=png&auto=webp&s=5ff23f3c54923bf6db04db80fe0f2b6c94314674 https://preview.redd.it/m5ygikem4j0d1.png?width=622&format=png&auto=webp&s=9d71af7af1157b2ceb6eefc20191452e5dae28f8 Edit 2: Circuit diagram. https://preview.redd.it/x5thaad68l0d1.png?width=687&format=png&auto=webp&s=ae2a64c4e48bcf355b64e8e5f5c106380492cddc This isn't working. https://preview.redd.it/xeiyyef48l0d1.png?width=687&format=png&auto=webp&s=d26752034af825d78a442f9f22cb2944cc835395 This is working. |
2024.05.15 06:50 naifyboy Motorcycle LED wiring help please...
2024.05.15 04:33 SKRyanrr Is there any concept map/ flow chart of mathematics giving a high level view of mathematics like in physics?
So in physics, you can drew concept map giving you a birds eye view and illustrate the whole of physics like in the picture. Is there any similar diagram to get a sense of the whole "terrain" of mathematics and how it all connects? submitted by SKRyanrr to mathematics [link] [comments] |
2024.05.14 20:13 PkMn400 Radial Probability Vs. Probability Density
2024.05.14 19:01 Silent_Ad4553 Please Post a Photo of Your Gecko belly! (URGENT)
Lower belly -- ovaries, intestines, primary cardiovascular system Lower Anatomy + upper anatomy -- lungs, heart, intestines Anatomical Diagram |