I think everyone is going to be setting this to 168 after today.

It always reads to me like some high school essay where the student has nothing more to say but a wordcount requirement they still need to hit.

That tells you who wears the big britches.

Trump < Kim Jung Un < Michelle Lujan Grisham

The accounting trick pulls forward the point of value creation, and relies on faith, if you assume "value" is supposed to be measured by "earnings".

Ultimately, investors can look at these earnings and decide to pay whatever they are willing to pay for equity in the companies. No one is forcing you to buy SP500 (except if you're part of a defined benefits pension plan). My point is that casual observers should not take earnings growth as proof that the economy is heading in the right direction. There are lies, damn lies, and statistics. And accounting. Msft seems to be pretty good at gaming the accounting fwiw! Financial engineering.

I suppose the uncertainty here would be the reason for financial market volatility.

(Yes of course the GPU cost something to make, but the margins on these things are very high. The point is that revenue is immediate while capital expenses are amortized. And capital expenditure has gone way up lately.)

> Most of what breaks shows up after the review is done

I have been in Munich in September and seen the offices empty out at 2pm on a Tuesday for Oktoberfest. No one took a vacation day or stayed late on Wednesday.

And rooftop solar had to be subsidized in the US, so apparently it wasn't attractive enough as an investment on its own. Even now, solar without batteries isn't economically beneficial to individuals, and batteries are ludicrously expensive and require a lot of space.

> I'm surprised to hear that you need to replace roofs every fifteen years.

Asphalt shingles. Of course you can use something else like a metal roof. But the solar panel itself doesn't last that long since efficiency drops and new technology gets so much better. So you're still gonna have a new part of your house that can break whenever it feels like it and needs maintenance every so often. Something I want the government or a utility company to deal with, please.