Wry & Dry

Men's locker-room slur. Absurd optimism. Australia's best.

Self-effacement is the usual Wry & Dry style.  But...First Samuel's clients have just ranked the company among the best in Australia.  See more, later.

More immeasurably, W&D is most offended by The Trumpster's slur on men's locker rooms.  His suggestion that bragging about sexually assaulting women was nothing more than male-locker-room-talk is erroneous.  

He obviously hasn't seen the inside of one for at least 40 years.

Locker room

Let W&D [1] tell readers exactly what men talk about in one of the few bastions of male-only-ness (mind you, that will soon be under threat, certainly in the State of Victoria):

  1. How well they just performed at whatever sport it is ("I hit the ball like a hero, today')
  2. Their injuries ("My left hamstring's tight.  How's yours?")
  3. Their upcoming injury ("I'm worried about my right adductor...")
  4. Their previous injuries ("I did my right groin in that game against Smithville, in 1986.  Remember?")
  5. Their investments ("Fred, you gotta get some Plummet Airways.  It's a sure winner".)

However, The Trumpster is as good as gone to the Great Locker Room in the Sky.  For now, the End is near [2].  

Electoral collegeSource: Financial Times 13-Oct-16

Expect some triumphalism from Clinton's acolytes.  But in 1984 Ronald Reagan (Republican) received 97.6% of the Electoral College (EC) votes.  Roosevelt (Democrat -1936) and Nixon (Republican - 1972) also won over 95% of the EC votes.  To get 95% of EC votes Clinton would need to win 511.  But the experts say that Trump will win at least 30%.

Be careful what you wish for.  Roosevelt died in office and Reagan was probably brain dead in office, near the end.  Nixon was impeached.

But it's not over for the price of energy.  Notwithstanding predictions of its death, the oil price has recovered since its January lows: up almost 40%.  

OilBut recall that the main reason for the oil price collapse last year was the shale oil production in the US.  Such production is not economic below about $50 a barrel.  And as prices dropped last year, supply from that source dried up, as it were, as rigs were shut down.  It is expected that those shuttered rigs will now come back into production.  W&D will wait and see.

Speaking of death, the corporate Labrador, ASIC, has released a report on Australia's life insurance industry.  ASIC is worried about the high rates of rejection of some claims.  The problems seem to be in the fine print.  And so W&D is worried that 4% of life insurance claims are rejected.  Does this mean that 4% of deaths are not deemed deaths by the insurer?  

Imagine the conversation with the call centre in Mumbai: "No, Mrs Smith, whilst we are saddened that you believe your husband is dead, we need proof that he is dead.  His body is not sufficient.  If you read the policy, you will see that we require him to state that he is dead.  Unless you can get that statement, we cannot pay out the policy".   

Still further on the subject of deaths, readers will be aware of W&D's concerns that some companies are introducing non-financial bonus objectives for their CEOs.  W&D sees this as a cynical way to boost the CEO's compensation.  Such objectives should be part of the mainstream role of the CEO, not worthy of extra dosh.  

But now there's a new twist.  Get the company to pay up to $10m to the family of the CEO if the CEO dies or is unable to undertake his duties because of illness.  

Hold the phone!  Self-insurance paid for by the shareholders? This stunt was attempted by Hamish Douglass, CEO and CIO of Magellan Financial Group, but an outcry from investors has forced him to ask the board to withdraw the AGM proposal.  

Douglass has done a great job in building up Magellan.  But this proposal reeks of greed.  Scorn should also be poured on the board for putting the proposal in the first place. 

And later in this W&D: it's time to go shopping in London; the absurd optimism of property owners; and W&D presents First Samuel's clients' comments - the good and the bad - that were made in our annual client survey.  As well as news that First Samuel's Net Promoter Score® [3] is an amazing 69!    

Elsewhere, Follow The Money updates the odds on the US presidential race.  And the Trumpster is in more trouble than a one-armed paper-hanger in a gale.

And, of course, Miscellany, to soothe your troubled mind.

[1]  Who is happy to boast that he frequently uses a gym, plays cricket 26 Saturdays a year and played football as recently as 1989.
[2] News that Bob Dylan has just won the 2016 Nobel Prize for Literature has inspired W&D to hastily pen his own contribution, about the Trumpster.  It is inspired by, and sung to the tune of, Sinatra's 'My Way':
And now, the end is near
And so I face the music's tune
My friend, I'll say it clear
I'll state my case, from my locker-room
I've lived a life that's full
I've travelled and no-one can dispute my facts
But more, much more than this
I've paid no tax
Wives, I've had a few
But then again, too few to mention
I did what I had to do
And wore a wig without extension
I planned for each pretty girl
In bed for she and me to relax
And more, much more than this
I've paid no tax
Yes, there were times, I'm sure you knew
When my lawyers said that I should sue
But through it all, when there was doubt
I froze my brain and spat words out
I sued them all and I stood tall
And paid no tax
[3] Net Promoter, Net Promoter System, Net Promoter Score, NPS and the NPS-related emoticons are registered trademarks of Bain & Company, Inc., Fred Reichheld and Satmetrix Systems, Inc.
Net Promoter Score is an index ranging from -100 to 100 that measures the willingness of customers to recommend a company's products or services to others. It is used as a proxy for gauging the customer's overall satisfaction with a company's product or service and the customer's loyalty to the brand.