There are technically three separate but closely related concepts at work here: business day conventions (like modified following), holiday calendar (like NY banks), and daycount convention (like 30/360). Each has real life subtleties, so the combinatorics can easily get out of hand.

Did you know that two or more black swans together on land or in the water can be properly referred to as a bank?

My reading of most of these studies is that rather than inquiring about actual happiness (which is probably really hard to pin down), they add up a lot of vaguely related statistics and then tell people: “look at your great numbers - you should be happy, damnit!”

And, lest there be any doubt, I’d be pretty comfortable killing any of the Trumpian hooligans out there. Which is just about where we are now. This is not like that little Brexit joke to which our sponsor is so committed. That only screwed a few million people. Whatever! Trump is a festering sore of...

So, barriers are up downtown to restrict the Trump mob, just in case he is arraigned tomorrow. Of course, in a reasonable world he would be on death row in a federal prison somewhere, but a few nights at Rikers Island wouldn’t be all that bad. OK, a pale substitute, but we’ll take whatever crumbs we...

And then there was one. Of course, connoisseurs of the relevant literature know what comes next. “He went and hanged himself, and then there were none.”

Is it just me, or does she look a little bit like someone around here?

Govert. But it has been almost 7 years…

Disregarding the noise in this thread, repo’ing held-to-maturity securities for the purpose of meeting a coordinated (thank you, Peter Thiel!) flood of deposit withdrawals is a rather temporary solution. I believe they went with FHLB advances instead, but that’s also a short term thing. Given the ma...

In the US, Labor Day is observed on the first Monday of September. I think mostly to separate it from the memory of the Chicago Haymarket Affair and the International socialist movement. And, of course, it’s roughly halfway between the two other major holidays: Independence Day and Thanksgiving!

Prompt: Can you give me a catchy announcement to present you to the world? Please don’t mention the singularity.

One of the landmark victories for the idiot was the rollback of bank regulations in 2018, after vigorous lobbying by the CEO of Silicon Valley Bank.

Alcohol is very expensive indeed. The guys from whom I'm renting the farm had their parents from Romania (accidentally the Danube Delta area neighbouring with my homeland bogs) living here for some time. There's a big culture of making/drinking light fruity wine there. The first thing they mentione...

Elon Musk apologizes after publicly mocking Twitter employee with disability

There is a significant amount of brain damage in play here.

Can you not imitate it indoors?

That goes to the “why” part. It’s old slang for throwing up, usually as the direct consequence of having imbibed too much. The polite approach is definitely to head out of doors, especially if you are in a cabin.