Wall Street Traps, AI Distorting Everything, Hantavirus Cruise Nightmare, Missing Spirit Airlines

Another TBB post featuring the most eclectic links around the web such as Wall Street traps, AI distorting everything, Hantavirus cruise nightmare, missing Spirit Airlines, investing during uncertainty, AI hyperscalers spend binge, Vladimir fraudster gets busted, more magical Artemis II photos from NASA, more on the sub-2 hour marathon triumph, the best photography links and of course always all of the most important developments in the crazy world of frequent flyer miles and points at the lower half of the post. And much more. Enjoy the weekend.

 

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This blog started way back in 2012 focusing on my crazy hobby addiction of traveling with frequent flyer miles, hotel and bank points. It has since evolved to curated posts featuring the best web content along with my commentary.

 

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BLOG HOUSEKEEPING

This is truly a one man labor of love operation, enjoy it while it lasts.

First big life change revealed: My wife is retiring from Ford Motor Company, her last day of work is June 30, 2026. Not going to make a difference here in the blog, unless she applies for an open internship position. The job interview will be intense because blog management is only looking to hire the best. My kids say I laugh at my own jokes, it is true lol.

More changes coming soon. The blog will stay on someway somehow but going to be different, stay tuned.

 

QUOTE OF THE WEEK

 

“Always beware the man who stops digging for gold and starts selling maps to the gold mine”

 

MUST READ GEMS 

One of the best photo collections I have posted here in my own biased opinion:

Photo contest finalists tell stories of the planet’s natural wonders and the people who study them

Two puffins next to each other at the bottom of the frame. Waves and black sand meet to form a coastline behind them
Two Atlantic puffins perch on a grassy cliff at the Dyrhólaey Peninsula, overlooking the ocean and the iconic black sand beaches of Iceland’s South Coast. PhotoCredit:EmilyCheng

 

PERSONAL FINANCE

Great read: How Not to Invest During Times of Uncertainty. Especially two really bad ideas that always pop up during such times, market timing and portfolio concentration (on what’s currently hot).

We have an incredibly strong instinct to act and to do ‘stuff’ – don’t just sit there, markets are moving! For investors that often means trying to make predictions about what happens next. While the urge to do this can feel irresistible, it flies in the face of the evidence about what is likely to work for us over time.

Being diversified means owning things that are performing poorly and that, in certain environments, we should expect to perform poorly. It is incredibly difficult for investors to embrace this idea – we just want to hold the good things that have been working.

The sense that markets are unusually uncertain is the time when behavioural discipline matters most, but also when we are highly likely to abandon it. Market timing and portfolio concentration feel right, but really they are just the easy options that make us feel good, while being very unlikely to work.

Needless to say I agree 100% with the above. So, diversify!

Lots of good sensible advice in this as well: Wall Street Trap. Remember, Wall Street is not your friend.

For almost 100 years, the data has been clear that stock-picking is counterproductive.

Over the past 10 years, fewer than 15% of funds benchmarked to the S&P 500 managed to beat the index.

…the accuracy of Wall Street prognosticators is approximately zero.

[many of the new funds]…funds were overpriced to the point that their expected return was actually a bit below zero. How were they able to market such an inferior product? Henderson’s hypothesis was that the fund companies designed them to be intentionally as complex as possible in order to exploit individual investors.

 

 

CRYPTO/TECH/SCAMS

Remember when I posted about this guy who managed to scam a Mexican billionaire? And I wondered out loud why is this guy still out free. Well, justice caught up with him and is now behind bars: Lender Who Used Astor Family Name Is Charged With FraudVladimir Sklarov, who operated under several identities, offered loans to company founders who had wealth locked up in stock.

This guy is a piece of work smh:

In spring 2021, Sklarov, a Ukrainian-born American, negotiated terms to extend a $115 million loan to Ricardo Salinas Pliego, one of Mexico’s richest men, the Journal previously reported…Sklarov, calling himself Gregory Mitchell, and another man, calling himself Thomas Mellon, allegedly told Salinas Pliego’s representatives that the Astor family would be funding the loan from an entity called Astor Asset Management…Astor on its website said it was built on the highest principles of John Jacob Astor, the German-born fur trader who was credited as America’s richest man when he died in 1848…The loan to the businessman was secured with around $450 million worth of stock. Sklarov paid Salinas Pliego the proceeds of the loan from the stock, which he sold without telling the Mexican billionaire, the grand jury alleged. Sklarov and others then kept the remainder of the proceeds, according to the indictment…The money was sent to multiple accounts controlled by an unnamed co-conspirator, according to the indictment. From there, it was sent on to Sklarov, Sklarov family members and others.

His first big financial success came from his role in an alleged Medicare fraud, and he later said he turned $1 million into $60 million by investing in real estate…Names of companies he used to advertise the lending included Bentley Rothschild, Cornelius Vanderbilt Capital Management and Shearson Lehman.

Mind blowing graph showing: Battery costs have declined by 99% in the last three decades, making electrified transport a reality.

Another amazing investigative article on New Orlean’s Car Crash Conspiracy. High-speed accidents, crooked lawyers, and poor people desperate for cash—it was the kind of scheme that could have been cooked up only in the Big Easy. Definitely in a different league than the Vladimir dude above.

 

AI

Yes you were not mistaken. The money spent on AI is mind blowing: What I Learned about Hyperscalers’ AI Spend.

The four biggest hyperscalers reported earnings this week. Microsoft, Meta, Amazon, and Alphabet collectively told investors they will spend roughly $700 billion on capital expenditures in 2026. That is nearly double what they spent in 2025. Three of the four raised capex guidance during this week of reporting. Only Amazon held its number, and only because it had already published a $200 billion forecast in February 2026

The headline says hyperscaler capex is roughly doubling. The platform shift to a new tech stack is real. AI revenue is growing fast. None of that is wrong. What is also true is that funding is increasingly off the balance sheet, that supplier relationships are being prepaid, that lease commitments are being deferred for as long as accounting rules allow, and that a meaningful portion of the AI revenue and AI investment gains are flowing in a circle through the same small set of AI labs. The platform shift is real. AI engineering is real. So is the financial engineering. Let the good times roll.

This is pretty much what is going on these days: AI Is Distorting Practically Everything About the Economy.

Until recently, artificial intelligence was a welcome tailwind for U.S. growth. We’re beyond that now. AI is more like a hurricane-strength weather system making itself felt across the entire economy. It is distorting the stock market, profits, the speed and composition of economic growth, trade and even our moods—especially about the job market.

AI thus feeds the disconnect between what the data say and how people feel. It lifts the spirits of businesses and investors, while doing the opposite for ordinary workers.

 

 

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Comments (14)

D
DML May 8, 2026

Good morning!

Those are some links! I couldn’t save the “crasher” scam until the weekend. That is really something.

A retirement at home! Oh my. Time passes.

C
Carl Pietrantonio May 8, 2026

Woot! Silver! Skimmed through and will be giving so many links a good read! See ya tomorrow!

N
NickPFD May 8, 2026

I wanted to do a Michigan trip this summer but the AAwards just aren’t cooperating with our schedule. Ditto for Quebec and Nova Scotia. Therefore the top contender for this year’s summer vacation is… Minnesota. Duluth beckons! The whole Lake Superior area looks really nice.

S
sexy_kitten7 May 8, 2026

Crazy story about the hantavirus cruise! For some reason I didn’t think it was the get on get off kinda cruise. Duh! Of course the pax would’ve mixed with locals etc. And I just did a cruise from USH to ANT! Of course, we did not stop in the drake passage and shore landings did NOT include any ppl only wildlife!

A
ABC May 9, 2026

Congrats to your wife retiring.
If Battery costs have declined by 99%….. why aren’t Duracell batteries cheaper?
Will WC ticket prices drop close to the games?

C
Carl Pietrantonio May 9, 2026

I believe the type of batteries is the rechargeable ones for mass storage and cars and such.

G
Grant May 9, 2026

Hey George, happy Saturday! When was that meetup at the Kimpton Phoenix / Scottsdale? That feels like a lifetime ago for me. Always appreciate getting a shoutout on TBB and congrats to you too on blogging away all these years. Everything has changed in the miles and points space (2-3x over) during the last 13 years.

J
Josh May 9, 2026

Out of curiosity, why retire on June 30? Would insurance coverage continue through July if she retired after working a day in July? Also working that first week means they theoretically give her a free paid holiday for July 3, no?

G
GeorgeTBB Author May 10, 2026

Hi from the breakfast restaurant in the Seattle Hyatt Regency. Super busy here, our daughter is keeping us on a very tight schedule. Hike day today, we are taking a ferry to some island. Checking into the Thompson later today.

Will likely get to the comments later Sunday or most likely Monday from the SEA Amex Centurion lounge, naturally.

Great meeting Carl yesterday, we forgot a selfie!

I will be posting some photos in Instagram when I get around to it.

C
Carl Pietrantonio May 10, 2026

Ha! About 3 miles up the road I realized we hadn’t done a photo. Oh, well. Next time for sure! Had a smooth drive north too. Great to meet up! Have fun on the hike and let us know which island you went to, ok?

C
Christian May 11, 2026

Glad your wife is getting to retire.

I got the popup on the Schwab card too and may try my wife as well.

Great investment advice. Thanks.

We looked at Krabi a few years ago and looked at the Holiday Inn. We ended up cancelling but were looking forward to seeing there.

G
GeorgeTBB Author May 11, 2026

Hi from the breakfast restaurant at the Seattle Thompson. For some reason, there is a brand in each major chain that I just don’t get along with.

Bonvoy: W
IHG: Kimpton
Hyatt: Andaz

Almost every stay I had with these left much to be desired. Can’t single out a brand from Hilton yet…but maybe I had too much at breakfast lol. Also, Thompson leaves me indifferent too.

Anyway….

@ DML: That New Orleans scam story was so so sad. Seeing poor people risking their lives for a few hundred dollars when that Vladimir dude was going for $100 Mil plus.

@ Carl: Yeah, sorry about forgetting to do a selfie, next time. The island we went was Whidbey, the hiking at Ebey Landing was amazing.

@ NickPFD: Glad AA awards are at least cooperating with something, even if it is Duluth. I hear the are is great but not in the winter if you are not into cold weather lol.

@ sexy_kitten7: What cruise company did you choose to do this? I am wondering if the cruise company with the hantavirus breakout will be around in the near future.

@ ABC: This blogger is not a batter expert 🙂 Also, kind of shocked WC ticket prices have not come down yet. For the record, FIFA sucks.

@ Grant: That Phoenix meetup was at least 10 years ago. 2016. Or maybe 2015. Everything B (Before Covid) is like ancient history. Those were the days, yeah, everything has changed since then.

@ Josh: You make good points. It has to do with her job, did not want to start in a new role on July 1. And there is enough in an HRA to carry us for COBRA for 18 months, we make the cut clean starting with a Marketplace (thanks Obama) plan effective 1/1/2028.

@ Christian: Let me know what happens with the Schwab Amex Plat. U got the popup while holding another one, perhaps the Business Platinum like me? Thanks for the Holiday Inn at Krabi recommendation. I have some leftover points, maybe it is time to wipe them out. Or reignite the love towards IHG now that Hyatt appears to be on a declining path…#TBD.

C
Carl Pietrantonio May 12, 2026

Oh you guys went all the way out to Whidbey? That’s great! Yes, Ebey is nice area. I usually am right by there on the occasion I take the ferry to go over to Port Townsend. Hope the return trip home goes/went good!

B
bob May 12, 2026

hello from Da Nang. On week 2 of my stay at the Wink. Pretty nice so far, upgraded to a suite that’s about the size of half of a hyatt house room. But the price is right. Breakfast is good, nice view of the river. Weather is hot and VERY humid. Have a Cat 4 free night I need to use by the end of the month, maybe will go to the Regency down on the beach. Getting harder and harder to use these free night certs at meaningful places…….

If you are looking at visiting Krabi, check out Koh Lanta. It’s getting more and more popular these days but still off the main tourist track. A lot of locals visit there as their beach of choice, but be careful of the time of year you visit. They get washed out with rain during the rain season and lots of places close down.

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