Tag Archives: Greed

Life at Frontier Minus One

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Sanity prevails…

…at frontier minus one.

Rat race is within the underlying’s…

control.

Virtual / quasi / substantial / semi debt-free-ness…

exists.

Free cash-flow generation on the balance sheet is…

…common.

At frontier minus one, the narrative is …

…under control…

…as proven by self-determination of speed of change…

…and by exhibition of substantial growth.

Not at breakneck speeds.

Not by borrowing to the hilt.

Not by greedy behaviour.

Not by indigestible trajectory.

Not by a reckless ‘not giving a damn too bad if you’re not so fast’ attitude.

Life at frontier minus one…

…is somewhat balanced, with a flow.

Innovation at frontier minus one is achieved much faster

…than at frontier minus two, but much slower than at…

…frontier zero zero.

No tech company that wishes to thrive well into the future is currently functioning at…

…frontier minus two.

Either the transition to minus one has been made, or, it’s in the process.

Why not go for the jugular? Straight to zero zero.

Everyone has their role in this puzzle.

Imagine an older civilization going into battle.

There was a front line, paving the way, at immense cost.

There was a reserve support line, with artillery, first-aid, communication, and what have you.

There was a third line with supply, reinforcements, semi-trainees doing other stuff normally, etc.

There was aerial support, naval support, intelligence, research and analysis staff etc.

All combined to create an ensemble of actions.

Cut to now.

Warfare has changed.

Immense cost is still there, but immense cost to the front line, as in cost of life, has been reduced greatly, speak drone and missile warfare, supported by AI backed intelligence and analysis.

Point is, innovation, a different way of thinking, disruption and all their cousins will find a way to make things affordable, implementable.

That’s the way civilizations move forward.

Not for you or me to change. It’s the way of the world.

And that is what frontier minus one banks upon.

Meaning, to keep functioning at sustainable levels, slowly, painstakingly, in the process, simultaneously, finding a way, a connect, to frontier zero zero.

The connect can be of co-work. Amicable. Win-Win. You earn, we earn.

At frontier minus one, the world view is not to annihilate, but to…

…accommodate.

To win…

…together…

…in…

symbiosis.

Symbiosis

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Imagine…

…the most value you can imagine.

That’s what this word is worth.

Especially now.

What’s the truth?

Existential question.

First we had everyone and their aunties proclaim the death of core Tech companies.

Hmmm.

Core Tech companies, and their chief protagonists, thought otherwise.

Number of believers kept waning though.

Until recently.

Something started to reverse in belief systems.

AI was behaving fantastically utilitarian with a human holding the reins.

Meaning, there needed to be a human there, for practical purposes.

Frontier AI deployed engineers to be the human face. Or so one was told.

Came the trust issue.

Do we double up on our trust in this no track record magician who just showed up out of nowhere?

Do we entrust privileged client data to the unknown?

Do we strip ourselves naked, TWICE?

NO.

Everyone and their uncles have answered with an emphatic NO.

Who is the human handler – the go-between – the trusted face – the rein holder?

Someone with a track record.

Proven.

Tried, and…

trusted.

Self-propelling.

With no liabilities. Spell ZERO DEBT.

With copious FREE CASH FLOW to INNOVATE FREELY…

…to navigate the reins successfully and as per the requirements of an enterprise.

Who is this entity?

None other than…

…our own very well known…

CORE TECH.

Leaner.

Hungry to prove its point.

To have its raison d’être acknowledged, and paid for.

To earn and compound steadily.

Forget about dying. Let’s talk about long term thriving.

Then, we had the captains of frontier AI admitting, that yes, ‘we do need core tech handholding to be implemented successfully’.

Gone was the initial hubris, that ‘we had come to wipe out old thought patterns, and all old systems’.

Reality had dawned, and these captains at least had the decency to admit it.

Actually, they had realized that their existence now depended upon how much their infrastructure would seep through. And…

…that no one was trusting them enough to hand over the job of seeping through to them, but much rather, to trusted old compatriots, to Core Tech.

So they came forward to shake hands.

Good.

Symbiosis.

We want to move forward on the back of this symbiosis.

There will be gigantic and fast development on the back of this symbiosis.

We are looking at space travel, space colonization, disease control, climate change, cheap solar, cheap desalination, perhaps even alien integration and partnership – unimaginable perhaps a few months ago, but possibly conceivable on the back of this symbiosis.

There’s new talk which has recently emerged, from the other extreme, and needs to be discarded, like its mirror image on the opposite side of the bell curve. This is the talk of frontier AI dying out because of becoming unaffordable.

Well, in whatever shape it exists currently, frontier AI does have tremendous capacity to solve problems.

Let it do just that on the back of this symbiosis, and earnings will start to flow.

Core Tech won’t let it wither, frontier AI has now become their raison d’être too.

Don’t you see it?

Two universes are converging, each needing the other to survive.

In the end, they become one universe.

Companies will merge. Synergies will multiply. Mega projects will be achieved, faster, more bombastically.

Earnings will flow.

Where do you want to be?

Remaining a doomsdayer will not help you.

Get into the flow.

Invest into debt-free, free cash-flow generating core tech as value deepens.

Look for debt-free, frontier minus one, free cash-flow generating semi AI companies, research these thoroughly for any red flags, and if those found are manageable, put in some funds.

If you find a frontier tech with manageable debt and a reasonable balance sheet, with a PEG ratio (price to earnings ratio divided by earnings per share growth percentage for the fiscal) somewhat under control. ok, put in some money there too.

Get out of the doomsday mindset.

Put your money to work, and then lock it in for another twenty years. Leave the compounded proceeds to your children.

Now.

Let the crashes come. There will be compounding post crashes too. Just look at the monthly chart of an IT index from 1995 to today. Dot-com peak looks miniscule and low compared to the levels of the monthly chart today.

Enough talking. Do the recce and then let’s talk.

Mantra

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Hey.

Writing became a breeze.

Posting a blog from inside Claude, keeping the originality of the post, whilst assigning to AI all mechanical tasks like feeding in categories and tags – I’ll admit, this does make life a lot easier, and blogging a lot more enjoyable.

Which keeps the admissions coming in continuation, perhaps repeatedly.

From being the leading AI skeptic, towards gravitating to some kind of a chief protagonist – people who know me would probably say, “There he goes again.”

So what’s this going to do?

The number of blog posts is going to increase. Hopefully, the quality too. Primarily, the enjoyment while blogging.

Beneficial. We thereby move towards the realm of Planet 2.0.

Wunderkind AI needs to benefit mankind to the max.

What about the risk?

Opening up to the Wunderkind, allowances, permissions, sometimes an odd password shared.

Does the AI take these towards Planet 3.0?

Yeah, that’s the one on which mankind is harmed.

Skeptics are still on 1.0, exactly where I was 11 days ago.

Idea is to make a conscious effort to gravitate towards 2.0, every time there’s a drift towards 3.0.

Remember, we will tend to drift.

Drifting got us here in the first place. One can use fancy words for it, like disruption.

There’s a quick trick which makes us aware from where we are functioning, 2.0 or 3.0?

Greed. Hubris. Exuberance. Ego burgeons. 3.0 functionality.

Feeling of benevolence while functioning, well-being and / or goodness emerging – 2.0 domain.

Natural human drift towards 3.0.

Bring back consciously towards 2.0.

That’s the Mantra, going forward.

Check

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Hey.

Facing some basic issues on the other side.

Life has changed.

Race became more intense.

There’s greed in the equation, the desire to achieve as much as possible in as little time as possible.

Everything’s moving…

…faster.

As if…

…from one day to the next…

one just…

…shifted.

It’s clear to me that we don’t shift till we are ready.

Was a hard nut to crack.

Had to be literally goaded into the AI trajectory, several coaxings required. Hard skepticism took its time to be broken down.

Not happy about the greed.

Speed of coasting is also very high.

Need attunement.

Unable to slow down easily.

Need to be careful about a ‘now I’ve got this and to hell with you attitude’. Can develop unchecked.

Addiction. Need to stay de-addicted.

All non-electronic activities in the day go up immensely in value.

Reading – books. Check.

Chanting. Check.

Basic verbal conversations. Check.

Human interactions. Check.

Helping someone. Charity. Check.

Non-distracted eating. Check.

Bringing down multi-tasking levels. Check.

Whole detox days. Day travel. StayCation. AutoCut the system. Check.

Evening chanting session. Lengthen. It’s not electronic. Check.

Anything not connected to a device and creates value. Check.

Not going to fall sick in this hyperactive space.

Check.

Incorporating before proceeding further.

Check.

Constants

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Hey.

We play the game…

…with numbers.

Numbers are…

…our thing.

The thing with numbers is…

…that once we create a constant for ourselves…

…a pivot…

…something like a compass…

…AI doesn’t have access to it.

It’s our number.

It’s in our mind.

By the time AI gains direct access to our mind, we’ll be gone.

For example, we establish a low buying average, over many buys, in something we consider to hold value.

Each individual establishes their own, meaning…

…it’s each person’s own low buying average.

It decides the multiple.

It’s the centre-half. The libero. It creates the play. It’s unique to a person. No AI access. The whole game has been taken away from AI. It remains a human game. It’s not what the masses are doing. It’s contrarian. It’s going to make money.

Volatility is a constant.

Disruption is a constant.

Fear is a constant.

Greed is a constant.

Mass-behaviour is a constant.

Pigs getting slaughtered is a constant.

We play it by constants.

We’ve even started using unique mass-logic defying indicators, that only we have defined, that no one else knows about or can dream of, and we’re using them successfully, with no access to AI.

We’re functioning from within a matrix where we control the game, AI doesn’t.

Beauty is, outside of our protective matrix, we have access to all of AI’s capabilities, should we choose to use them.

Not yet though. Specifically after the 160+ girls murder rumoured to be caused by intel provided by AI, correct me if I’m wrong. AI as it currently is doesn’t seem ready for seamless implementation. All those foolishly believing so at this moment are the pigs referred to above. Pigs get what? Slaughtered. I didn’t say this first. It’s a common market saying. Markets are a – constant. We trust constants.

There will be many more blow-ups before seamlessness is achieved.

Think of banking systems causing and compounding massive errors because of blind reliability on AI.

This of AI suggested war strategy backfiring because of lack of understanding of human psyche.

Think of investment strategy imploding, left with eyes wide shut to AI, owing to lack of proper understating of human behaviour and its unpredictability. Anyways, on the plus side…

…think of any level of positive upheaval that AI will cause.

Think maximum.

Thought?

Since we play it by constants, we’ll continue to thrive, maximum disruption and beyond.

Such is the power of constants, that we successfully harness.

Negating Promoter Greed

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You like a stock. 

You’ve checked it out. 

Fundamentals are under control. 

You find the management reasonable.

They’re shareholder-friendly. 

They have high salaries though, specifically those connected to the promoter-group. 

Now, you need to answer some questions.

Are you ok with high salaries for the top staff?

What is your definition of high?

Are salaries performance-driven?

Do the company’s number justify what promoter-connected management is taking home?

Ok. 

You’ve answered these questions. 

You still want the stock, despite the fact that an answer to two could be an outlier. 

That’s fine. 

One won’t find perfection anywhere. 

If one finds it, the stock will probably already be overpriced. 

So, you’re ok with mild imperfection, as long as your basic needs are met. 

You decide to purchase the stock. 

Here’s how you can negate promoter greed. 

The fancy cars, the family dish outs, the pushed-in lunch bills, the first class travel, you get the drift. 

Who doesn’t do it, given the opportunity?

Your promoter is human, and will surround him- or herself with comforts, at the company’s expense. 

That is the norm. Get used to it. 

Here’s how you are not letting this affect you. 

You buy in a staggered fashion. 

You buy with margin of safety. 

Because you’re sure of fundamentals, you average down. 

Each time your holding average touches a new low, you’ve secured yourself against promoter greed just a tad more. 

Because of sound fundamentals, ultimately, the stock will start to rise. 

That’s the time your low holding average will show a stellar profit for you. 

Perhaps your holding average is better than that of the promoter.

If that is the case, rise in price has given you more profit than it has to the promoter. 

Therefore, while the promoter got to live in the lap of luxury at the cost of the company, you were busy raking in a better result owing to the price rise.

Successive margin of safety buying amounting to averaging down after convincing oneself of intact fundamentals has been the key for you. 

Use this key, but do so wisely, and safely. 

Remember, that averaging down only works well in the case of diligent, research-based long-term investing. Averaging down is a strict no-no for short-term traders, however. 

Wishing you happy and fruitful investing!

🙂

Wave Buying upon Prolonged Corrections

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Where there are markets, there are corrections.

At first, they cause us dismay.

Slowly, we get used to them.

Then, we start using them.

Next step is – exploiting them.

One can speak of exploiting if a correction persists, and one is long-term investing.

During a persisting correction, we purchase in waves.

How are we defining a wave?

Go through your long term portfolio and pick out those stocks that are offering margin of safety.

You convince yourself of their health once again. Still healthy? Go ahead.

You purchase them one by one, one per day, by putting one entry quantum into the market for each purchase.

There will be greed to buy more than one underlying in one day. Don’t give in. This will allow your buying power to persist alongside a persisting correction.

The size of your entry quantum needs to be small enough to sustain entries all year round, still leaving ample liquidity on the side. Your long-term strategy should not immobilise your financial and familial activity in any way. Thus, an optimally small enough entry quantum is vital.

You’ve gone through a wave.

Breathe.

Correction persisting?

Go through your long-term portfolio again.

Where does margin of safety still exist? Pick out stocks list.

Go through next wave.

Repeat.

Till when?

Till no margin of safety is offered, or if you feel that the buying limit with a stock is surpassed.

4-5 such waves can really ramp up your portfolio.

What happens if corrections continue over multiple years?

Take long breathers between sets of waves.

Keep doing due diligence. If you’re not convinced about a stock anymore, don’t include the concerned stock in the next round of wave-buying (you can exit such a stock completely upon a market high; wait patiently for such a high and then throw the stock out, if still unconvinced about it).

Yes, ultimately, markets will start to rise again. Margin of safety dries up. You stop buying.

Your portfolio will now start showing its health.

Why?

It’s been accumulated with conviction, at the right price.

Congratulations.

🙂

Personal Long-Term Investing Isn’t about Establishing a Mutual Fund

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If it were the case, why bother?

Just put your money in a mutual fund instead. 

There are many competent fully equity-oriented mutual funds out there. 

Some of the competent ones have very reasonable expense ratios and eye-popping statistics. 

Investing in a mutual fund takes away your work-load completely. 

You put in the money for the longish-term, and then you’re done. Don’t bother for the next 5 years. 

If you’ve chose the dividend payout option, you get an SMS or an email maybe once or twice a year that puts a smile on your face. It’s a payout!

What is a mutual fund?

What’s so mutual about it?

You mutually agree to what the fund manager is doing. 

Thus, make sure that the fund-manager is competent. Study the fund-manager’s track-record. 

A mutual fund typically consists of 50-75 stocks. Some are weighted heavily, some more lightly. 

The return you get is the mathematical average of the 50-75 stocks, adjusted for the weight they carry. 

It would suffice here to say, that the MF delivers some kind of an average return, less all kinds of fees, which typically range around the 2.5% mark per annum. 

Therefore, as far as returns are concerned, after tax deductions, one is probably left with a high single-digit one or a low double-digit one, in the long run, compounded. 

Not too bad.

Remember, this is equity we are talking about. Equity is an asset-class which gives returns that are adjusted for inflation. 

Actually, great. 

Those of you who are satisfied with this need not read any further. Just go ahead and put your surplus funds into MFs.

However, some of us want that extra kick. We are not satisfied with low single digits. We want 15%+, per annum compounded, after tax and adjusted for inflation. 

This is not greed. 

Ambition perhaps. 

Drive. 

Renumeration requirement for the arduous work put in. 

We’ve struggled. 

We’ve gotten hit many, many times. Each time, we’ve stood up, taken the hit, and carried on.

We have learnt. 

All for what?

Now it’s time to cash-in.

We go about setting up our long-term portfolios in the proper fashion. 

Total number of stocks eventually in the portfolio needs to be well clear of the MF mark…otherwise, right, why bother.

MF-type diversification will give an average return. 

We will build a focus portfolio. 

Focused returns are higher in the long run.

What’s the magic number?

Well clear of 50-75 stocks in all is understood. For me, even 40 is too much. I could deal with 30, though. Hmmm, let’s steer clear of the 3 in 30, so 29 is good enough for me as a maximum. The pundits are satisfied with 15-20 stocks, no more. Focus-gurus swear by 10-15 stocks. I’m ok with a maximum of 29, (a limit I’ve not reached yet) because in reality, I just hold 6 sectors, and multiple underlyings within the sectors. Thus, even with a maximum like 29, the 6 sectors alone make it a focused portfolio. 

The bottom-line is focus. 

As long-term investors doing it ourselves, we are going to focus. 

Staggered entry. 

Small entry quantum each time, many, many times. 

How small?

Small enough, such that one can enter about 30 or so times in a year and still have ample savings on the side from one’s earnings. Why 30 or so? That’s a rough 10-year average calculated per annum, estimated by me, during which one gets margin of safety in the 220 days or so that the markets are open in the year.

There we are : focus-investing, margin of safety, staggered entry, many, many entries, small entry quantum each time and generation of ample savings despite equity exposure. 

Is that a formula or is that a formula?

🙂

Small Shoots to Big Trees

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What do I see around myself?

Lots of small shoots. 

Wherever I look, there are small shoots. 

Does this make me happy?

You bet. 

Why?

Why not?

I mean, you don’t see any trees. 

So?

You’ve been at it for a while.

So?

All you’re seeing is shoots. Does that satisfy you? None of your efforts is a big tree in all this while.

That’s a very narrow-minded, greedy and fast-buck remark. 

Explain. 

For each of the shoots I see around me, twenty efforts have died their death. However, one shoot managed to entrench itself. This one shoot is firm, and goes very deep into the ground. It’s roots have become very strong. It is now ready for the world and has decided to show itself over the ground.  Over the next many, many years, with my meticulous nurturing, this very shoot shall grow up into a mammoth tree with unprecedented positive consequences.

I see. And, you’re saying that you see many such shoots around yourself?

Yes, many many.

Wow.

Yeah, i’ve been busy. I’ve tried and discarded many things. What remained didn’t want to leave me. It got planted and grew roots. Now that the shoots are growing, they are mostly on auto-pilot. Some need tending to once a day, some once a week.

Does that give you empty spaces in between?

Yes.

How do you fill these empty spaces?

I do, and I don’t.

Meaning?

Unless something new refuses to leave me, I don’t wish to plant another tree.

Why?

I’m happy enough tending to what I have.

So you’ve reached the…what’s that called?

Sweet spot?

Yes, you’ve reached the sweet spot. But nobody knows about you. You’re not famous or anything.

That’s why the spot is sweet.

Meaning?

Nobody disturbs my privacy. I can go where I choose. Do what I want. I don’t need to share my time with anyone if I don’t want to. There are no compulsions imposed upon me. 

Do you think you will be famous one day?

When these shoots grow into big trees, that might happen.

Do you want it to happen?

I want my trees to grow. Not sure today about fame. It kills personal life. I like my life and its pace.

Any regrets?

Sometimes, I get lonely. It’s the nature of the path. Despite family and a decent social life, loneliness is still there. Applied finance requires a lot of alone-time. 

How do you deal with that?

I start tending to a different shoot. Financial. Non-financial. Recreational. Creative. Gap gets bridged, and then the loneliness is gone. 

Holding the Line

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Your systems are in place.

They’re implemented. 

Basics are going. Life basics. Family basics.

Then you’ve got your income basics. They’re safe. They generate income. This income goes towards comfortable upkeep of your family. Some of it is saved. 

Your investment portfolios are firing. Savings have built these up. You don’t touch these, but keep adding to them upon opportunity. 

You’ve just finished implementing all your trading systems. 

Some of these are on auto-pilot. 

The other ones demand a little of your time each day. 

They keep you sharp and all there. 

Nothing much. 

Just fifteen to twenty minutes each. 

Skin off your teeth. 

You tackle them with your bed-tea. 

In other words, you are set as far as being income plus plus plus. 

Good. 

Now what?

Now you need to hold the line. 

What does that mean?

It means everything. 

It means no blow-ups…

…no crazy decisions that impact folios and family…

…basically nothing insane coming from you that will threaten your hard-earned situation or worse. 

Holding the line means making sure basics stay intact…

…folios keep growing…

…and new systems keep developing that add to these. 

It’s really that simple. 

When you hold the line, your next step either maintains status quo or adds to you. Preferably, it adds to you.

However, the simpler something is, the more difficult it is to follow. 

What are the demons that can slay you?

Over-confidence.

Over-ambition.

Hubris.

Greed.

Showmanship. 

Debt.

One-up-on-the-Joneses-ideology. 

This stuff looks pretty harmless at first, but is enough to give rise to cracks. 

Cracks grow… 

…till you’ve either come back to your senses and filled and sealed them…

…or till they’ve destroyed you right down to beyond your basics. 

Yeah, a full blow-up is never really far away, once cracks start to appear. 

Therefore…

…while holding the line…

… you keep reminding yourself about what you’re doing…

…why you’re doing it…

…and that you’re never going to blow up, come what may…

…and that you’re going to keep holding the line, come what may…

…and that your next step is always going to add to you.

Happy Holding!

🙂

Limits will keep you Safe

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Safety is under-rated.

People scoff… at safety.

Ask someone to belt-up.

Or, ask xyz to take a backup.

Emergency fund, anyone?

Insurance?

Plan B?

Is anyone really interested?

Ok, don’t have a plan B. Fine.

Then, you need to watch your plan A like a hawk.

You need to install safety nets.

One such net is a limit.

Limit movement of funds.

Nowadays, this takes but a few online clicks. Setting fund-movement limits in your netbanking is not difficult at all.

What does a limit do?

It says ballyhoo to your emotions.

Greedy?

Too bad, fellow, funds more than your defined limits can’t leave your savings account, in case you wished these to depart for your trading account.

So, greed is in check. With force. Order of the day.

Limits will keep you safe.

Over-optimistic?

Same check.

Limits will keep you safe.

So on and so forth.

A little self-control is required though.

You’re not going to tamper with your limit, right?

Right.

Manipulation / Fraud / Ponzi – I Reject You

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I detest manipulation, and manipulators. 

I like people who are straight-forward, without hidden agendas. Simplicity is gold. Simplicity breeds success. Simplicity gives satisfaction from within. 

All the twisting and turning, wheeling and dealing, wangling and dangling of manipulation makes me want to puke. 

Therefore, manipulators, frauds, Ponzis, I reject you. Manipulation doesn’t make the manipulator happy. Try it and see. I’m 100% sure your story won’t have a happy end.

Rejection is a simple process. When you reject something, you stay away from it. You get out of its way when it is in the vicinity. You head off elsewhere when that something is headed in your direction. Everyone’s probably been rejected sometime or someplace, so everyone probably understands rejection. 

Well, rejection is one thing, but how does one recognise a manipulator, fraud, or Ponzi?

Recognition is key. 

This breed of people talk sweet. They appear harmless. They don’t lose arguments. Quick, witty, sharp. Fast thinkers. They keep you hanging. Give ambiguous answers. Mostly, they like to not answer at all, so as to keep you dancing around them, making you more vulnerable to their schemes or ulterior motives. If you’re interested in their something, they use silence as a weapon. You’re hot, you’re interested, they’re silent, makes you hotter, makes you more interested. The idea is that ultimately, when the manipulator breaks the silence, you lap up whatever you’re getting. Also, they keep you hungry for more. Manipulators are vicious, vile people. 

Where manipulators push you to act, slowly, but steadily, by twisting and turning your world in the manner they consider appropriate (since you’ve given them that power), frauds outright present a reality which sucks you in to sign the dotted line. Frauds sell a dream. It’s a great dream. You want to be a part of it. It overwhelms you. It’s almost too good to be true.

Ponzis are frauds. They sell the dream of unrealistically large returns. They count on greed to cloud your vision. They lure new sets of investors by distributing investorial proceeds from one set of investors as dividends to slightly older investors, and so on and so forth, till the bandwagon is overloaded with thousands of investors paying full-throttle only to see the Ponzi vanish next day, with everything, never to be heard of again. 

When someone doesn’t give you a straight-forward answer, walk the other way. Don’t bother with benefit of doubt, just walk the other way. With very high probability, you’ll have avoided a manipulator. When someone uses silence as a weapon, walk away ten miles. Warn everyone of a mega-manipulator in the neighbourhood. Analyze sweet- and smooth-talk ten times. Is there any truth in what’s being said, or are the words an eye-wash, hiding a fraud behind themselves? If you’re not greedy, you won’t fall for a Ponzi. Don’t be greedy. Period. 

You’ve hit full cycle. 

You’ve understood the existence of the breed we speak about. It has dawned upon you. Let’s call this “internal realization”.

Then comes “external recognition”, of the breed being in your vicinity, and trying to exercise its powers upon you. 

Lastly, comes “complete rejection”. 

Well done. 

You’ve saved yourself from lots of emotional and or monetary trouble. 

Spread the word.