The Long Term Investor

HERE is what we are living today.

Stock market news live updates: Stocks mixed after S&P 500's best day since July

https://finance.yahoo.com/news/stock-market-news-live-updates-september-24-2021-224052554.html

(BOLD is my opinion OR what I consider important content)

"Stocks gave back gains after equities' best day since July, with some volatility returning to markets as regulatory concerns in China at least temporarily offset optimism over the U.S. economic recovery.

The S&P 500 declined by about 0.5% just after market open. A day earlier, stocks posted a back-to-back session of advances, with equity investors looking past concerns over China Evergrande's debt crisis, uncertainty over monetary and fiscal policy and ongoing debates in Washington.

Renewed signs of an escalating crackdown on cryptocurrencies in China sent prices of the major digital tokens tumbling Friday morning. Bitcoin (BTC-USD) fell another 6% to hover just under $41,000, while Ethereum (ETH-USD) sank nearly 10% to below $2,800. This came after the People's Bank of China (PBOC) issued a statement barring domestic and overseas financial institutions and payments companies from providing cryptocurrency transactions and other services in China.

Earlier this week, cyclical stocks including the industrials, energy and financials sectors outperformed after the Federal Reserve signaled the economic recovery "has made progress" toward the central bank's goals on employment and inflation. The Fed has also now primed markets for its asset-purchase tapering to begin as soon as November against the improving economic backdrop.

"It’s not a surprise to me that the Fed is moving forward with the tapering," Jeff Schulze, ClearBridge chief investment strategist, told Yahoo Finance Live on Thursday. "If you think about the three month moving average ... we're at about 740,000 jobs created per month. That is stronger than anything we've ever seen pre-COVID.”

"For the first time in a long time, markets are cheering on a marginally more hawkish Fed," he added. "It's becoming clear to participants that we are moving past peak Delta, you're going to see a very strong re-acceleration over the next couple of quarters, and that's going to go a long way to keep earnings moving forward."

Treasury yields held onto gains from Thursday, with the benchmark 10-year yield topping 1.41% to reach its highest level since July. The move higher in yields, however, did not appear to spook equity investors, nor did it weigh heavily on some of the technology and growth stocks that had taken a hit as rates rose earlier this year. The Nasdaq posted a gain of more than 1% as of Thursday's close.

According to Mark Haefele, UBS Global Wealth Management’s chief investment officer, given the still-low Treasury yields seen during the pandemic, "Only a rise in real yields of more than 50 [basis points] over three months would likely weigh on equity returns, particularly in emerging markets."

Other pundits also pointed to the Fed's more constructive view on the recovery as a main factor helping send stocks on a late-week rally.

"A hawkish Fed was surprisingly welcomed by equity markets as it was seen as a confirmation of continued strength and 'substantial progress' made by the economy in recovering from the COVID shock," Anu Gaggar, global investment strategist for Commonwealth Financial Network, wrote in an email.

"While we are far from the end of [quantitative easing] and near-zero rates, the tide seems to be beginning to change," Gaggar added. "So far, the market had welcomed bad news as good news, but a market reacting to signs of an economy able to stand on its own without the monetary policy crutches is a refreshing change."

10:25 a.m. ET: Government shutdowns 'tend to be short-lived': Strategist
Congress is racing to pass legislation to fund the federal government and avert a shutdown by September 30.

The House of Representatives passed a bill to temporarily fund the government and suspend the debt limit earlier this week. However, the bill faces an uphill battle in the Senate, where Republican policymakers have threatened to block the bill in its current form.

Even if the government does shut down next week, however, the impact to markets will likely be minimal, some strategists maintained.

"Historically, we've seen that government shutdowns tend to be short-lived," Jordan Jackson, JPMorgan Asset Management global market strategist, told Yahoo Finance Live on Friday. "We also know that for those non-essential federal employees, they do get furlough pay as well."

"And so recognizing that if it lasts more than 30 days, it's certainly going to have a bigger impact on the economy," he added. "But generally speaking, these shutdowns tend to be short-lived and markets — while they may correct in the short-term — they do sort of continue to grind higher. I think it's certainly a risk in terms of a short term mini correction there. But again, with all the liquidity out there, I think any sort of blip in the markets will be short-lived."

10:00 a.m. ET: New home sales rose more than expected in August, reaching highest since April
New home sales jumped more than expected in August, with a jump in purchases in the Northeast helping push sales to their highest since April.

The Commerce Department reported Friday morning that new home sales were up 1.5% last month to a seasonally adjusted annualized rate of 740,000. Consensus economists were looking for a rise of 1.0%, according to Bloomberg data.

July's new home sales were up 6.4% month-on-month, with this data upwardly revised sharply from the 1.0% increase previously reported.

In August, the Northeast saw by far the biggest increase in sales at 26.1%. Sales in the Midwest, meanwhile, fell 31.1% on the month. The South and West saw modest increases in monthly sales.

9:30 a.m. ET: Stocks open lower, Dow drops 100+ points as Nike shares fall after earnings
The three major indexes fell Friday morning, holding onto overnight losses as momentum from Wednesday and Thursday's sessions faded.

The S&P 500, Dow and Nasdaq each sank as markets opened for trading. The Dow dropped more than 100 points, or 0.3%, as shares of Nike (NKE) sank more than 5.5% following a quarterly sales miss reported Thursday afternoon.

The footwear and athletic-wear giant posted fiscal first-quarter sales of $12.25 billion, which grew 16% over last year but missed estimates for $12.47 billion, according to Bloomberg consensus data. North America revenue — the company's biggest geographical segment by sales — came in light, rising to $4.88 billion compared to the $4.98 billion expected.

Nike also lowered its sales forecast for the current quarter, as factory closures in Vietnam curbed the company's ability to keep up with demand. For the full year, Nike now expects sales to rise by mid-single-digits rather than by low-double-digits, based on the company's earlier forecast."

MY COMMENT

MOST of the information above is a STRONG POSITIVE for the markets today and going forward. NIKE is no doubt a big ANCHOR on the DOW today.

In spite of....just about everything....being positive.....there are times after a big gain that the markets just have to relax and consolidate the gains. if that is this morning....ok....if it turns out to be all day today....ok......if it takes into next week....ok. The FACT is.......at this time......nearly EVERYTHING is positive for the markets. BUT.....that does not mean we will be up....there is a lot of FEAR out there and people are searching for reasons to be negative. The bottom line.....no one ever said that investors are RATIONAL........but.....over the long term RATIONALITY wins out every time.

 

SO......with 18 minutes to go all the big averages are in the green. BUT....in the modern markets......18 minutes is a lifetime. After all...long term investing is now considered anything more than........3 minutes.

 

YES......I agree that these investor mistakes are common and to be avoided.

3 Investment Mistakes to Avoid
Bypassing the traps.

https://www.morningstar.com/articles/1059412/3-investment-mistakes-to-avoid

(BOLD is my opinion OR what I consider important content)

"This is not the first time that I have written about these three investment blunders. Fortunately, they are becoming less common. But, until they disappear altogether, admonitions are still warranted.

The investment industry currently features two scandals: 1) the lawsuits filed against the German financial-services conglomerate Allianz, for the collapse of its Structured Alpha suite of funds; and 2) the woes of Chinese property developer Evergrande Property Services Group (EVGPY). (The company is not "ever grand," as it turns out.)

The inclusion of Allianz’s funds makes sense, but you might wonder how the problems of a property developer qualify as an investment topic. Although Evergrande’s main business is real estate, it also offers “wealth management products” to customers who buy its apartments. Who better to manage your retirement savings than the people who built your house?

(In the United States, property developers’ brand extensions are less ambitious.)

Unhappily, the answer is "pretty much anybody." Evergrande allegedly ran a Ponzi scheme, using incoming proceeds to pay off older accounts. In addition, stated one of the company’s executives, the firm used investor accounts to “bridge various funding gaps faced by the parent company.” Whatever the reasons, the money is gone, and Evergrande is now bartering with its customers. Rather than cash, the company says, it will provide those who wish to redeem their investments with IOUs for a future apartment. Such a deal!

Not that Allianz’s Structured Alpha shareholders can do much boasting. The funds, which invested heavily in options, got clocked by the highly volatile marketplace of February-March 2020. The tamer funds in the series dropped 30% during the period and never recovered. The more aggressive entrants lost almost everything. The Structured Alpha funds have since been shuttered.

Mistake 1: Aiming Too High
Everybody knows that if something is too good to be true, it probably is. Yet every year millions of investors override their better judgment and buy investments that can’t possibly deliver on their word.

The boldest of Allianz’s funds, Structured Alpha 1000, had a goal of outgaining cash by an annualized 10 percentage points while “generating returns in times of rising or falling equity markets and both low and high market volatility.” (Technically, it followed through on that claim: The fund did generate a return during March 2020. It was deeply negative.) Ten percentage points better than cash, through thick and thin! Don’t try that at home.

Evergrande’s investments were equally optimistic. According to the daughter of one of Evergrande’s investors, the product that her father bought guaranteed him an 11.5% annual gain. Some guarantee! Chinese bond yields are above Treasury levels, with Chinese government 10-year bonds currently paying 2.87%, but they are nowhere near high enough to support casually promising an 11.5% return.

When I encounter such offers, I back away slowly, with a tight grip on my wallet. Not just from that product, but from the company entirely. Organizations that want my money must earn my trust, from top to bottom.

Mistake 2: Accepting Complexity
This precept is not as ironclad as the first warning, because not every elaborate strategy fails. Several famous hedge funds, most notably Renaissance Technologies’ Medallion, have posted excellent long-term returns while using strategies that can’t easily be described. Just because a fund’s approach is complicated doesn’t mean it will prove to be a poor investment.

Nonetheless, the odds do not favor intricacy--particularly with publicly traded funds, which boast no equivalent of Medallion. Among mutual funds and exchange-traded funds, the top 20-year performers (as measured by risk-adjusted returns) have adopted straightforward approaches. The exceptions have been a handful of bond funds that use derivatives, such as Pimco Total Return (PTTRX).

Accepting complexity usually means investing on faith. Few who bought either Evergrande’s products or the Structured Alpha funds knew what they held. Evergrande informed investors that it would use their money to provide financing to obscure privately held companies, while apparently doing otherwise. For their part, the Structured Alpha funds employed options tactics that have been appreciated only by subject-matter experts.

Mistake 3: Flying Blind
It is crucial to receive timely news on portfolio holdings.

It’s one thing to invest in convoluted strategies that report their positions often, as with exchange-traded funds. Although few shareholders will directly use that information, as they won’t closely monitor their funds (and would be unlikely to know how to interpret the data if they did), the mere act of reporting creates a record that deters funds from straying too far off their stated paths.

It’s quite another thing when the snapshots occur infrequently. Depending upon their country of issuance, the Allianz funds reported their holdings quarterly or semiannually; that's sufficient for a typical mutual fund that turns over its portfolio gradually, but it is a hopelessly long period for funds that trade options. Such funds could begin the quarter investing in one fashion, change for two months, then resume their previous ways. No outsider would ever know.

The Evergrande products were even more opaque, being effectively blind pools. Their owners could only trust that their monies were invested as the sales literature described, into companies that were solvent and could pay their obligations. As it turned out, their trust was misplaced.

In Conclusion
As these two examples come from Germany and China, it’s tempting to think that U.S. investors have outgrown such mistakes. To some extent, that is true. With experience, the U.S. marketplace has evolved and improved. It is unlikely we will see an American equivalent of Evergrande. But U.S. investors should not be too smug. Among the plaintiffs in the Structured Alpha lawsuits are Blue Cross Blue Shield, the City of Milwaukee, Lehigh University, and the Arkansas Teacher’s Pension."

MY COMMENT

YES.......complexity, aiming for the sun, not following your investment or accepting inadequate reporting......ALL....are basic mistakes for any investor. I especially like the one about COMPLEXITY. HUMANS naturally crave the complex and seem to identify it with....intelligence. For my money....I MUCH prefer to keep things STUNNINGLY SIMPLE. The basic concepts of how and why I invest are in this thread over and over and over. NONE of it is complex. NONE of it is difficult.....in concept. What is difficult....is for any investor to do the simple. It is the same in just about any field....sports, music, business, investing.......SIMPLE is supremely difficult.

 

Well I ended the day in the red.....mostly due to NIKE. But that is the way it is. PLUS....I got beat by the SP500 by 0.63%. Considering how we started....not a bad end to the week.

 

Can you IMAGINE.......considering the start we had to this week......ALL the big mainstream averages finished the week with a GAIN. The DOW, SP500, and the NASDAQ were ALL in the green for the week.

DOW year to date +13.69%
DOW for the week +0.62%

SP500 year to date +18.62%
SP500 for the week +0.51%

NASDAQ 100 year to date +18.94%
NASDAQ 100 for the week (-0.02%)

NASDAQ year to date +16.75%
NASDAQ for the week +0.02%

RUSSELL year to date +18.83%
RUSSELL for the week +0.50%

 

YES....I do agree that NIKE is and will be a buy going forward. BUT....the stock may linger for at least a quarter or two till the markets get a handle on how these supply and manufacturing issues are going to pan out. I think it will take one or two quarters of earnings for the markets to relax on this stock.

Many stocks are going to be in the same situation. Even those that are booming. The next two quarters are going to set the stage for investors to BELIEVE in these companies and their results. Right now....there is STILL much talk in the investing world that many company results were BOOSTED by the pandemic lock down and that the future earnings will not be able to keep up. I DO NOT believe it for the companies that I own.....but time will tell.

 

TGIF. After this week we need a few days off. Time to watch some college football, do a rehearsal, and generally sit around and do nothing. Of course that is what my wife tells me all the time....."you dont do anything".

 

I would be very surprised to see NIKE get back to that level....130. That would take the stock back to where it was in June. NOT impossible by any means....but I see this little drop as lasting a few days at most. If I had to GUESS.....and it is only a guess.....I doubt it will go below $140. That would be about a 12-13% drop.

Of course......if we have a general market drop or a correction....it could EASILY hit $130.

This is just a fun little exercise in GUESSING.......not information for anyone to trade on by any means.

 

This little article is VERY appropriate after the week we just had.

LETS CUT THROUGH THE NOISE IN SOME VERY LOUD MARKETS

https://americanconsequences.com/trish-regan-lets-cut-through-the-noise-in-some-very-loud-markets/

(BOLD is my opinion OR what I consider important content)

"Growing up, I remember my parents reading the morning newspaper when they had time, and they’d often watch the evening news. But nowadays, we get news all day long – on our phones, our laptops, smartwatches, TVs, and social media.


We are bombarded with news and media, whether we seek it out or not.

As investors, this overload can lead to too much market noise, which is when hype, inaccurate data, or small price corrections and fluctuations in the market distort our picture of the overall trends.

Market noise can lead to knee-jerk selling that comes from haste and emotion rather than carefully analyzed data.

This week began with stocks in the red, and the S&P 500 Index posted its worst day since May.

Investors seemed to run for the hills amid concerns about the recent China investing crisis and other news (more on that in a bit).

But are they simply overreacting to the headlines? Are these risks real?

The most critical part of investing is keeping a clear head… And earlier this week, it was evident that few investors are capable of such a feat.

The markets tend to overreact… It’s like one person gets an idea and they all follow. And this herd mentality can punish free-thinking, independent investors in the short term.

But ultimately, it’s the leaders – not the followers – who make the biggest gains in the stock market.

Investors worried about the markets falling off an infinitely steep cliff are not thinking clearly. Their concerns about the market aren’t sustainable or valid.

Today, let’s look at some of the big market concerns right now, and why they shouldn’t be a huge cause for investing concern.

Investor Concern No. 1: The Fed
The Federal Reserve held a highly anticipated meeting this week, with folks speculating the central bank could pull away from its monetary stimulus.

But does anyone really believe Jerome Powell is going to totally pull the rug out from under this country? Have we not seen what the Fed is capable of since 2008? Do you not know who is currently running the Treasury Department and what impact she has on the Fed’s thinking?

Let’s be realists here… There’s no way the Fed is going to exit too fast.

If anything, we run the risk that the Fed will keep the liquidity spigot open too long and create mass inflation in the process. But I’m certainly not delusional enough to think the Fed is about to exit stage left.

Even the Fed’s tapering plans will most likely also be delayed…

Danielle DiMartino Booth, CEO and chief strategist of Quill Intelligence, agrees, saying:

The recent stock market turmoil, looming fiscal cliff and surprisingly weak August jobs report will give Federal Reserve Chair Jerome Powell convenient excuses to reiterate his intent to taper, but allow him to fall short of actually committing to a November start to tapering.

Investor Concern No. 2: China’s Evergrande
The other big issue du jour is the fear of a “Lehman-like moment” in China. One of China’s largest lenders, real-estate developer China Evergrande, is facing billions of debt with the threat of default. Evergrande has about $300 billion in outstanding debt it can’t pay, which means equity holders in the company could get wiped out – and creditors could be left with pennies on the dollar.

But comparing the current situation to Lehman Brothers in the 2008 financial crisis is an awfully big suggestion… By allowing Lehman to fall as it did, the entire financial system nearly collapsed. That was because everyone and their cousin seemed to be holding the hot-potato subprime loans in their portfolios (and many didn’t even know it).

But that was then… and today’s environment is very different. Financial contagion –at least as it pertains to Evergrande having a massive effect on the U.S. or Europe – is overdone… We’ve all seen that Lehman movie before… And the Europeans caught the sequel with the European debt crisis. We won’t let that happen again.

As a result of 2008, the U.S. and Europe now have a series of stress tests in place for financial institutions to ensure we’re not investing in risky assets that we shouldn’t… that debt instruments haven’t been “over securitized” (i.e. – packaged and repackaged). So I’d be awfully surprised if U.S. institutions were holding debt in Evergrande.

So, while the bankruptcy of Evergrande could be troublesome for the Chinese economy in the near term – which yes, might have some effect on U.S. earnings of multinational companies doing business with China –the impact should be quite muted and primarily an issue just for Asia, not the U.S.

Investor Concern No. 3: Washington, D.C.
Another issue causing worry among some investors: Washington. Now, smart folks shouldn’t be stressing this one, because if you don’t know by now that politicians will always be politicians… then I’ve got some oceanfront property in Arkansas to sell you.

At present, our federal government is facing a looming debt ceiling that must be lifted sometime in the next seven days, or as Fortune‘s headline said, “The U.S. government could both shut down and default on its debt within the next month.”

Meanwhile, The Washington Post is blaming the Republicans for the trouble… And the GOP is blaming the Dems. You can see how this works.

At issue is the money it takes to fund the government every week to effectively “keep the lights on.” The government needs cash, and Congress has until the end of the month to ratify a new spending agreement. If it fails to do so, the government will be shut down (non-essential services at least).

Now, I’m quite confident the U.S. could handle a shutdown for a few weeks, or even a few months. We saw proof of that during the coronavirus lockdowns. At that time, government workers were paid the entire time – even without needing to go to work.

If the government shuts down, federal workers will need to wait until it reopens to collect their checks. But they’ll still get paid. Social security payments, meanwhile, would be temporarily suspended. Of course, none of this is good… But fortunately, Americans’ saving levels have risen significantly. That said, Democrats and Republicans alike should be working together to avoid a shutdown.

Republicans are refusing to lift the debt ceiling because they say the Democrats are packing immigration issues into the mix. Dems, for example, want $6.4 billion resettlement money for Afghanistan refugees included in the measure –and that’s not really flying well with conservatives who are still reeling from the poorly planned withdrawal from the terrorist-run nation.

The reality is this… The debt ceiling has become a bit of a joke. Since 1960, the U.S. government has lifted the debt ceiling an estimated 80 times, as Treasury Secretary Janet Yellen reminded us earlier this week. Yellen’s op-ed in The Wall Street Journal pointed out what we all already know… that it would be an “economic catastrophe” for the U.S. to default on debt.

She’s not wrong… Let’s be clear: If the U.S. defaulted on its debt –something we’ve never done in an entire history as a nation –then, President Biden would most assuredly go down in history as the worst president ever!

I realize there are those who would like Biden to fail. But politics should never be the motivation for such a debacle. It would be bad for America, and no matter how much you may dislike a politician and want to see them fall on their face, failure would be bad for all of us.

Meanwhile, there are others who believe we should be willing to walk away from our creditors… those that say, “But who cares? We can restructure the debt, etc.” But call me old-fashioned – I believe a nation should pay its bills.

Let’s hope that Biden, despite his incredibly poorly planned moves in Afghanistan and now mistakes at the U.S.-Texas border, at least knows enough to pay the bills.

I know the Biden team has made some blunders… including alienating France (France!) so much that the country just pulled its ambassador, but stiffing our creditors? That’s really not American.

And it’s not going to happen… The Dems control the House, the Senate, and the White House. Given their position of power, they shouldn’t be relying on Republicans… And they certainly shouldn’t be defaulting on our debt.

One of the reasons we made it through the COVID-19 crisis so well was because the rest of the world wanted to invest in the U.S. America is still seen as the safest place to park your money. And while I know AOC and others would just like to tax it all, the reality is that in the here and now, the U.S. is still the safest investing bet in town.

Trish’s Takeaway
It’s easy to get caught up in headlines and point out our flaws. It’s easy to roll your eyes and say the government is messed up (sure, it is) and our long-term fundamentals are working against us.

But the reality is, putting your money under the mattress isn’t going to work… If you simply sit on cash, you’ll have a lot less of it in 10 years given the rate of inflation.

So, smart investors really have no choice but to invest… When the market goes lower, assuming you don’t need the money in the near future – the next one to four years –then why not do some bargain hunting and seek out some value investing opportunities? The idea is to not move with the masses but to buck the trend.


Most importantly, investors need to remember to keep a clear head. Be an independent thinker. Know what’s real… and what’s not. And at all times, folks should avoid the political hyperbole and those who are simply talking their books."

MY COMMENT

EXACTLY. The drop on Monday was an OBVIOUS news driven event. NOT real news....but sensationalism masquerading as news as often happens now. THE....focus of any investor should be on what you own.......the fundamentals and ACTUAL news of the businesses that you own.......NOT the general news. OBVIOUSLY general news is often going to drive the short term markets. BUT.....over the long term.....the news is IRRELEVANT. Over the longer term........some......of what is news today.....will just be history. It might be.....somewhat remembered as the past. MOST of it will be totally forgotten.....whether it was REAL or FAKE.

 

REAL ESTATE......local, local, local.......central Texas.

Around here the markets have gotten really BORING. We have 4200 homes in this area. The highest active price is $1,650,000. The lowest priced active home is $640,000. There are currently 28 homes out of 4200 actively for sale.

EIGHT of those for sale homes are homes that a builder dumped on the market a few weeks ago. They are in the early stages of construction and will not be completed till next February to April time span. They are overpriced and not the greatest quality of construction. BUT.....they are the ONLY remaining area of new homes that will ever be built in this area.

So.....at the moment....we have 20 homes available that someone could actually buy and move in. The market has DEFINITELY slowed down. Houses are taking longer to sell and the frenzy that we saw earlier in the year is over. Prices seem to be firm.....but we are definitely in the FALL season when the home market slows down....some. The current inventory has mostly been on the market for 2-6 weeks. I dont see many new listing coming on the market at the moment.

From what I read I suspect that much of the country is seeing the same thing.....a slower real estate market......but not necessarily lower prices.....and the number of listings remains very low.

 

Unfortunately I am back to being a CONSTRUCTION CONTRACTOR.

We are at the start of doing a "small" kitchen and powder room upgrade. It is AMAZING how these little types of projects CASCADE in complexity. For the powder room we are doing a new vanity to replace a pedestal sink, now toilet paper holder, new towel ring, new light fixture. This little bit of work is going to run about $8000. It will involve a plumber, electrician, and perhaps some handyman work. The vanity is the current issue....it will not be available till about April. I already have the rest of the materials.

In the kitchen.....the work will be new countertops and new back-splash. BOTH will be natural Quartzite. I purchased the slabs of quartzite last week from a supplier....4 large slabs. I have a fabricator lined up to do the work to demo the existing countertops and back-splash, and cut the slabs as needed and do the installation. Of course......now we need a new sink which will probably lead to a new garbage disposal. AND.....we will need to line up the removal and re-installation of our stove.......and.......a plumber for the sink, faucet, and disposal.

The quartzite slabs are much thicker than the current backsplash so we will need an electrician to rework and extend ALL the outlets and light switches. Of course.....the LED under-lights that are under all the cabinets will have to be taken down since they are also too close to the walls for the new backsplash slabs. Part of my stove hood needs to be taken apart in order to get the new slab backsplash up under that area.

AND....since this is the new modern world....I will have to educate myself as to EVERY aspect of every job so I can make sure it is being done properly. We should be done with the kitchen in about 2 months. The powder room some time in about April.

SO.....I am dealing with:

Restoration Hardware for the bath materials including the vanity.
Granite yard for the quartzite
Electrician...twice
Plumber....twice
Handyman...twice
Appliance company to remove and reinstall stove.

EASY.....to do...but in the modern world time consuming.

 

YES...it is a bathroom with no tub or shower. Usually a sink and a toilet. It is not used by bedrooms but is a bathroom that guests and others can use when short term visiting. A bathroom that is out by the living room/rooms rather than in the bedroom area of a house. I assume the name comes from the phrase used by women...."powder their nose"......or something similar.

I guess you might also call it a "Half Bath".

 

Sorry the quote below is ALL because this is paid content. This sort of "stuff" in the Chinese courts has been going on for many months.....starting in 2020 as far as I can tell. Of course......our financial media and all the companies FOOLISH enough to do business and manufacturing in China.......and give away their trade secrets and technology.....will NEVER mention this sort of stuff. Only a MORON would not immediately realize that the Chinese courts are TOTALLY CONTROLLED by the Chinese dictatorship.

China Wields New Legal Weapon to Fight Claims of Intellectual Property Theft
A Delaware firm preparing to sue a Chinese smartphone maker for patent infringement was beaten to the punch with anti-suit injunction

https://www.wsj.com/articles/china-...ms-of-intellectual-property-theft-11632654001

(BOLD is my opinion OR what I consider important content)

"WASHINGTON—Chinese technology giants have seized on a new legal tactic to fight claims of intellectual property theft, raising concerns in the U.S. that Beijing’s promises to strictly enforce patent and copyright laws will be undermined by Chinese courts.

In four major cases since 2020, Chinese courts granted so-called anti-suit injunctions blocking foreign companies from taking legal action anywhere in the world to protect their trade secrets."

MY COMMENT

Too bad that shareholders are being SCREWED by corporate management taken with doing business in China.......and......the resulting EXTREME LOSS of corporate secrets, technology, manufacturing technology and other assets.

With ALL they do to AMERICAN companies in that country......there is NO WAY......I will ever invest in a Chinese company. INVESTOR BEWARE.