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The Reality Of Race In America

Portfolio Armor's Photo
by Portfolio Armor
Friday, Mar 08, 2024 - 9:11
Prison Reform Activist Sheldon Johnson
Prison Reform Activist Sheldon Johnson. 

America Is Biased In Favor Of African Americans

The social scientist Charles Murray wrote a book a few years ago called Facing Reality: Two Truths About Race In America: 

The charges of systemic racism and White privilege that are tearing the country apart float free of reality. Two known truths, long since documented beyond reasonable doubt, need to be acknowledged and incorporated into the ways we approach public policy: American Whites, Blacks, Latinos, and Asians have different rates of violent crime and different means and distributions of cognitive ability. These two truths drive the problems in policing, education, and the workplace that are now ascribed to systemic racism. Facing Reality lays out the evidence clinically and in detail, without apologies or animus.

Blacks have the highest violent crime rates in America, by far (Asians have the lowest, then whites, then Latinos, then blacks). Two news stories this week relate to that, and a third is the most blatant example of bias in favor of black Americans in recent memory. We'll start with that one, 

Beating The Buzzer 

In a high school basketball game earlier this week, Manasquan played black powerhouse Camden, and won on a last-second buzzer beater. The black referee then reversed the call, saying the ball hadn't left the Manasquan player's hands before the buzzer, despite clear and obvious video evidence that it had. 

Manasquan took legal action against this injustice and was denied. 

We all know that affirmative action gives blacks preference in college admissions and in government jobs, but who ever thought it would apply to basketball? And yet, here we are. 

Ignoring Reality In NYC's Subways

Crime has risen in New York City's subways, because New York would rather let crime rise than arrest and prosecute black offenders, who commit the vast majority of subway crime. New York's response has been security theater: in addition to National Guardsmen sent by the Governor, the City has set up check points where they search white women's purses. 

Credulously Signal Boosting A Killer

Let's let Keith Woods tell this one. 

The full text of Woods' post: 

Last month, Joe Rogan had "prison reform activist" Sheldon Johnson on to discuss the unfairness of the US justice system.

Johnson was just out after serving a 25 year jail sentence.

He explained how unfair it was that he was sent to prison for as long as he was, and Joe Rogan agreed that Johnson's story reflects a huge problem of racism in the justice system.

Today, Johnson was arrested after police found a severed head and limbless torso in his apartment. The victim's neighbours reported hearing "Please don’t. I have a family!" before hearing two gunshots.

The police found the victims decapitated head in Johnson's freezer and the limbless torso in a blue bin in his apartment.

Maybe the problem here isn't systemic racism.

Indeed. 

In Case You Missed It

On Monday, we posted eight earnings trades on companies reporting this week, four bullish and four bearish.

Here are our exits on those trades so far:

Options Trades

  1. Puts on ThredUp (TDUP 0.00%↑). Bought at $0.50 on 3/4/2024; sold at $0.70 on 3/5/2024. Profit: 40%.

  2. Put spread on SEMRush (SEMR 1.53%↑). Entered at a net debit of $0.95 on 3/4/2024; sold at $2 on 3/5/2024. Profit: 110%.

  3. Call spread on BJ’s Wholesale (BJ 8.53%↑). Entered at a net debit of $2.10 on 3/4/2024; exited at a net credit of $4.74 on 3/7/2024. Profit: 126%.

  4. Call spread on Honest Co. (HNST -0.75%↓). Entered at a net debit of $0.55 on 3/5/2024; exited at a net credit of $1.80 on 3/7/2024. Profit: 229%.

We're going to end the week with a few losses too, most likely, but as usual, we'll post all of our exits--wins and losses--in our weekly Exits post. 

Also, our top ten names from August 31st was the 5th straight weekly top names cohort to crush the market. 

We posted this week's top ten names on our trading Substack last night. 

If you like buying stocks that (mostly) go up, you should subscribe. 

 

If You Want To Stay In Touch

You can scan for optimal hedges for individual securities, find our current top ten names, and create hedged portfolios on our website. You can also follow Portfolio Armor on Twitter here, or become a free subscriber to our trading Substack using the link below (we're using that for our occasional emails now).

Contributor posts published on Zero Hedge do not necessarily represent the views and opinions of Zero Hedge, and are not selected, edited or screened by Zero Hedge editors.
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