Hi all,
To celebrate the return of Undervalued to the Reddit community, I decided to put together a quick DD and post it on a stock that I have had my eye on for a little while. It's still a "work-in-progress" and I may potentially update it later on Reddit with more information or detail if I have time at some point in the future.
If you have any opinions, thoughts, or additional information, please share it. Positive. Negative. Neutral. All information is helpful and informative to the community. (I thought the feedback received from my first DD posted to this sub was quite helpful and I look forward to what you have to say.)
Thank you to u/BuyLowSellNever for turning the sub back on; allowing us to share and discuss ideas with the broader community in a thoughtful and respectful manner. Best wishes. - LA

Funko (FNKO)
Share Price (1/28/21) : $11.97
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.

2/9/21 Update: Additional info posted here

2/9/21 Update: Additional info posted here

Funko is a good company with solid performance that is still trading at a reasonable price. Check out my DD below:
​
Funko (FNKO)
Share Price (1/28/21) : $11.97
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
Retail exclusives can grow the potential universe of licenses and increase retailer buy-in
· For example: A retailer like GameStop could lobby Funko to make a GameStop exclusive of the WallStreetBets Kid like this person suggested here. (The exclusive Pop! would be made into a limited edition and sold only to GameStop to sell at their stores)
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.
Previous DD: Herman Miller

2/9/21 Update: Additional info posted here

Funko is a good company with solid performance that is still trading at a reasonable price.
Check out my DD below:
Funko (FNKO)
Share Price (02/01/21) : $12.90
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
Retail exclusives can grow the potential universe of licenses and increase retailer buy-in
· For example: A retailer like GameStop could lobby Funko to make a GameStop exclusive of the WallStreetBets Kid like this person suggested here. (The exclusive Pop! would be made into a limited edition and sold only to GameStop to sell at their stores)
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.
Previous DD: Herman Miller

2/9/21 Update: Additional info posted here

Hi everyone.
Funko is a great stock that I believe will do well this year. Internet search traffic for Funko has been increasing and is at all-time highs over the last couple of months. The company is selling more of their toys directly to customers through their e-commerce shop (which allows them to capture higher retail revenues than wholesale revenues). And demand for collectibles and toys continues to be strong.
Here is a DD I wrote on the company below. I would love to get your thoughts.

Funko (FNKO)
Share Price (1/28/21) : $11.97
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.

Live in DC and usually play at MGM for cash games and Live for the occasional tourney. Had a bachelor party in Baltimore a few weekends ago and spent some time Friday and Saturday night at Horseshoe. Casino itself is in one of the better areas of Baltimore (by the stadiums) and although we ubered in and out there was a big garage right next to the casino. Security everywhere which is probably a necessity in good ol' B'more.
There's 2 floors to the casino. Pretty average generally and we didn't eat anything so can't comment on the food. Shitty cover band playing the first night and I think a washed up 90s band the second night but not sure. Poker room is above average. Nice big space and 9 handed at most. Way more room than Live (haven't been to MGM since they moved the poker room, so dunno how it compares to new space). I don't know my experience compares with other non-Ravens game weekends (we were there for Ravens/Steelers game), but at least the weekend we were there games were really soft. There were probably 10-12 1/3 tables running, 2 2/5 tables, 1 5/10 shorthanded table. Usually play 2/5, but had been drinking all day and was there with some buddies, so we jumped into a 1/3 game and sat near each other so we could keep drinking and enjoying ourselves. Table was a nice mix of drunk tourists and really bad regs. Horseshoe lets you straddle from anywhere and at least the tables I was at both nights the straddle was on almost every hand (usually 6, but one drunk dude the second night kept straddling for 15 and then folding). Tons of action and decent level of talking and none of the headphones in not speaking crowd. Lots of jamming with non top pairs, misreading hands, etc. Anyway, would be curious from others who have been if the games are always this soft or it was a mix of the usual crowd + tourists in town for game. I don't think I'd drive up from DC given that MGM is pretty juicy as well, but I would definitely encourage people that usually go to Live to consider going up to Horseshoe instead.
Ok bad beat time. Had been playing for about an hour. On about 400 stack. Table is loose and we're probably an average stack. Pocket 9s in MP. Raise to 20 (6 straddle was on). Get 2 callers that both cover us including a stoned kid that straddled from UTG. He was a good guy and had been joking around with us. Obviously higher than a kite and was doing strange things all night, but was enjoying himself. Flop comes 933 rainbow. Start thinking how I'm going to squeeze some value out of this when my stoner buddy fires 75. I pretend to think for a little bit and then call. Other guy folds. Turn is a 7, but before the dealer even has slid the card into place, stoner kid says all in. I call about a second later and he says I've got you and flips over 83o. I show him the bad news and he says oh I didn't think of that. I turn and shrug to my friend who is laughing and then suddenly looks like he say a car wreck and says oh sorry dude that sucks. Turn back around and get a look at the river 3. Proceed to watch stoner kid punt off my should have been chips to everyone at table except for me and then leave. Still a fun night and would definitely make the trip back.

6 Nights in Vegas - On a Budget

A little background on us. I’m 35 my wife is 28. We aren’t major gamblers by any stretch, but we usually hit up a local casino maybe once a month, twice if we do good, and usually gambling about $100 a piece each time. We are both huge sports fans, especially college sports (Notre Dame). I’m a bit of a tightwad most of the time.
The morning of April 2, 2016 I asked her if she wanted to marry me (both of us have been married once before), she said yes. I bought tickets that morning, didn’t tell anyone our plans and drove from South Bend Indiana area to Chicago O’Hare, and arrived in Vegas right around dark.
The first couple of Hotels I tried for were booked, but we ended up finding a room at Planet Hollywood (which we spent all of about 4 hours in). We then flew out the next morning, spending a total of about 12 hours in Vegas.
This time around, after finding out my kids would be with their mom over Spring Break, I decided to save up and actually plan a trip this time. We debated Florida, Canada, the Smokies, and ended up deciding on Vegas.
Tuesday – March 27 We stayed the night at Blue Chip Casino (BOYD Gaming) in Michigan City Indiana (halfway to O’Hare). Both of us had comps for a free room and Buffet’s as well and about $75 worth of food credit that we had been saving for our Vegas trip. They also gave me a $25 gas card. We decided to gamble $100, and lost pretty quickly. After eating our “free buffets” we decided to go to bed, anticipating an early morning.
Wednesday – March 28 Once we got to O’Hare, we went and checked our 1 bag in at the Spirit Airlines desk. Everything at Spirit is A la Carte, and I had paid for 1 checked bag, however the lady in front of me discovered that their checked bags cost even more if over 40lbs. I had gone with Spirit to save a buck, and overall the experience wasn’t terrible, but I’ve had much better experiences with other non-discount airlines. After arriving in Vegas, we rode the bus from the airport to the Rental Car facility, and in short time had our new car for the week. The nice lady at Payless tried selling me several extras, and I politely declined each of them. I’ve come to expect the sales pitch no matter what rental company I use, and overall my experience with these guys was very good. We ended up changing reservations last minute for our Hotel due to additional offers I received while at Blue Chip. After checking in at the Fremont (all 6 nights) we unpacked, stopped at IN & OUT Burger, and made a run to Wal-Mart for snacks and drinks. We then decided to go check out the Nuwu Dispensary, we were both very impressed with the selection, cleanliness, and friendliness of everyone we talked to there (we are novices at this lol). After making a “small” purchase, we decided to drive out to Mount Charleston for the evening and ended up catching the sunset before driving back into town. We spent the rest of the evening walking around Fremont Street mostly just people watching, before we grabbed a snack from the Café inside the Fremont and went back to our room for the night. The food was average at best, but the price was right, even if I hadn’t used my points.
Thursday – March 29 We slept in until about 9:30, and slowly made our way over to the Hoover Dam. On our way to the Dam, we stopped at Sunset Station for their Brunch Buffet, and were really impressed, especially for the $7 price. After gambling a little and not winning we continued to the Dam. Waze had me going some crazy roads that I’d never taken before to get there, and took us about 3 times longer than I had ever remembered. After getting closer and seeing all of the traffic/road construction I now knew why. All of the lower parking lots were full, so we drove to the little gift shop on the Arizona side (I was surprised to see the road now ends here), got a couple of little souvenirs for our boys, and walked around a little bit before exploring Lake Meade a little and driving back to Fremont. After relaxing for a little bit we again decided to walk around Fremont Street and ended up getting Margaritas and Enchilada Nacho’s at Nachodaddy’s. I would highly recommend this place if you want a good drink and great nachos, we both loved it, and our bartenders were great. After walking back to the Fremont and going back and forth on winning/losing at the slot machines, my wife got a bonus feature on the machine she was playing, when I noticed a guy standing behind her watching. He looked really familiar, and after seeing “Deez Nuts” on the back of his jacket, I realized he was the youtube star from the Deez Nuts video. He posed for a picture with my wife and then went on his way. We gambled for a few hours and went to bed about even on the day.
Friday – March 30 After grabbing coffee from Dunkin Donuts inside the Fremont, we decided to drive down to Primm, because my wife had never been to California. We stopped at the truck stop and decided against topping off on gas, due to the price being over $4/gallon. We walked around the shop, found some more souvenirs for the kids, and ate lunch at Qdoba. After driving around behind the outlet mall, I realized there wasn’t a sign saying welcome to California, so I hopped on I15 and continued South/West until she got to see her sign. We went a few exits and decided a trip all the way to Baker wasn’t worth the drive, so we turned around just past the giant solar farm on the right. In the stretch from about a mile outside of Primm to where we turned around, we passed probably a dozen of each Nevada State Police and California Highway Patrol, many of which were on motorcycles and all of which had at least 1 car pulled over. About the time we made it back into Vegas, my buddy’s flight from Washington DC had arrived (he’s getting ready to leave for Japan for the next 3 years) so we went and picked him up at his hotel (Hooters). My wife won some money on the “Vacation” machine in Hooters and we decided to go walk the strip, which wasn’t a bad walk at all. We ended up going through the MGM, across to the Aria/Monte Carlo area and decided all the bars were a bit too busy due to a Golden Knights game getting ready to start. We walked over to Excalibur and rode the monorail to Mandalay Bay. We spent the rest of the evening here, and I decided to bet on Notre Dame Women, which turned out to be a good bet. My buddy, being born in Connecticut bet on UConn and that pretty much set the tone for his luck the rest of his trip. My wife and I ended up getting a giant hot dog/pepsi combo for $3.99 at the Café inside the Fremont after returning, and it was a better bet than the Chinese food we had tried earlier in the week.
Saturday – March 31 Another buddy of ours had moved to Vegas about 6 weeks ago, while his wife and kids are moving out there today. He called me late Saturday morning, and had us meet him out at the RV Dealership he works for. After getting a tour of their half million dollar Motorhomes (built here in Indiana), we hopped in his convertible and rode out to Red Rock Canyon. The line to get in was about 100 cars long, and it looked like they were only letting a few in every 15 minutes, so we drove out along that area and headed back a different way to the south side of town. The company he works for sponsors the Horse Arena at the South Point Casino, so we rode over, watched some of the show, and got the behind the scenes tour of the stalls, practice arena, and got to meet the horses/cowboys. We ended up spending most of the day at South Point, and we really enjoyed it, probably our favorite one on the “strip” so to speak. We ate dinner at Baja Miguel’s and all enjoyed our food. Later on Saturday night we rode back to downtown. My buddy that now lives in Vegas, took us to Container Park, which was really cool. After that we walked back down Fremont Street and I had bet earlier on Michigan beating Loyola in Men’s basketball. Another good choice, however I had to find a casino with a sports book that could cash me out. We ended up going to “The D” and really enjoyed the atmosphere/older machines. My wife ended up playing the old school Horse Racing Quarter Machine upstairs and stayed on it for quite a while. We ended up heading back to the Fremont, where we gambled the rest of our “$200 limit” for the day, and did pretty good. After several hours of gambling, we decided we were hungry, so we walked over to the Café at Binions, and were really impressed with what we had.
Sunday – April 1 We ate the Breakfast Buffet at the Fremont (comped), took an Uber back to our rental car on the other side of town, picked our buddy up at Hooters and headed north to Zion National Park. A couple hours later we arrived and were somewhat surprised that it wasn’t completely packed. My buddy has a free pass (Military) so we saved $30 on the gate fee. We spent most of the day at Zion, climbing, hiking, and exploring, it was my 4th time there, but the first time for my wife and buddy, and while my wife isn’t a hiker like me, she really enjoyed it and mentioned that it was one of her top 3 things we did on our trip. On our way back to town we stopped at Casa Blanca in Mesquite for a few hours, we didn’t do any good, but enjoyed the change of pace from the Vegas casinos.
Monday – April 2 We walked the strip again, and ate the brunch buffet at the Bellagio. It was really good, but if I hadn’t used the buy 1 get 1 free coupon I had, I wouldn’t have been quite as impressed. We walked around the strip some more, and ended up buying tickets to X-Country for my wife and I for the 10pm show at Harrah’s. The lady at the Box Office didn’t offer any discount, but when I asked about using my players card, she gave me a $10/ticket discount on the tickets. After that we drove across town to Sams Town (Boyd Gaming) and gambled for a few hours, I remembered a Steak House from several years back that I really enjoyed here, but we ended deciding against it for our anniversary meal. After going back to our hotel to change and shower, we ended up going to Viva Zapata’s (based on Reddit reviews). We weren’t disappointed! The food was amazing, the atmosphere even better, and the wait staff was the best! Our waiter asked what brought us out there, I told him it was our 2 year anniversary and we had flown in from Indiana to celebrate. We were enjoying the live Mariachi music, but started getting a little anxious as we were waiting on our bill (we wanted to get to Harrah’s by 9:30). A few minutes later here came the wait staff/musician to our table, put giant sombrero’s on us, gave us a couple of churros and each of us a shot of Tequila (no charge) while they sang us a song. I tipped them well and we were on our way to the show. My wife is a huge country music fan, and while I enjoy some of the older stuff, I’m more of a metalhead. I was pleasantly surprised at the price of our tickets, and for the money, the show wasn’t bad. 1 of the dancers really stood out from the rest though, but all in all it was a good experience. I wanted to go see Absinthe but found out they weren’t playing on Monday night. After our show we walked down to the Bellagio Fountains to see a show before heading back to the hotel.
Tuesday – April 3 We spent most of the morning packing up from our 6 nights at the Fremont, I checked with the Casino host to see about possibly comping more than 2 of our nights, but she showed me where my score in their algorithm was only a 65, and needed to be 100 to qualify for more. I still only paid $165 for the 4 nights I had to pay for, which was more than fair in my opinion, considering how little time we actually spent in the room. We went to Hooters and gambled for about 20 minutes, winning a couple hundred dollars, then took my buddy to the airport. Our flight wasn’t until 6:30pm, so we drove back North and had to try another Reddit suggestion for our last meal in town. We ended up at Hamburger Hut as we love to eat wings, and although the location and building were a bit sketchy, we ordered hot wings, a hot dog, and chili fries, this was our favorite food of the trip. We also really enjoyed hanging with some of the locals while we ate lunch. After eating lunch we hit up Walmart by the airport to find some last minute souvenirs to take back home, and then returned our rental car and waited a few hours for our flight back home.
What I would recommend
Sight Seeing - Zion National Park, Red Rock Canyon, Lake Mead, Container Park (especially if you have kids)
Food - Hamburger Hut, Viva Zapata’s, In & Out Burger, Nachodaddy, Hotdogs at South Point, Breakfast Buffet at Sunset Station, also saved a bunch of money by getting snacks and drinks for our room at the grocery store on day 1.
Casinos – As a gambler, the ones off the Strip seemed to pay better, but the ones on the strip were much classier and had newer slots you can’t find elsewhere. My 3 favorite were the Fremont, The D, and South Point. My wife really enjoyed seeing the sights at the Bellagio, the Flamingo, and others on the Strip. No matter what, if you’re going to gamble, get a players card, it saved me a bunch of money.
Transportation – If you like to do more than just stay in town and walk all week, I’d highly recommend getting a rental car like we did (about $200 for the week for a nice sized car), but if you don’t plan on going on long day trips like we did, UbeLyft would be great.
Entertainment – XCountry at Harrahs wasn’t the top show I’ve ever seen, but 2 tickets for $80 something and a happy wife, I can’t complain at all. Watching all the entrepreneurs on Fremont Street as well as the stage shows for free was hard to beat, and any trip to Vegas should include the Bellagio Fountains, the Flamingo Habitat, and any other free entertainment you can find along the strip.
What I wouldn’t recommend
Airlines – don’t go with the budget airlines expecting to save a bunch of money if you plan on taking a bag with you, checked or carry on, prefer to pick your seats out in advance, or want to get a snack while flying.
Food – While we didn’t really have any “bad” experiences, the café and Buffet at the Fremont were probably my least favorite, but I can’t complain because I didn’t have to pay for anything at either of them. Also I was looking forward to checking out Heart Attack Grill (based on Ducktales review), but they were packed and took Cash Only fyi.
Sight Seeing – Fremont Street after dark really isn’t the place to take your small kids but be sure to take them to Container Park during the day, Hoover Dam (unless you go early), Red Rock Canyon scenic trail on a holiday weekend. Pawn Stars was packed and if you’ve seen it once, the excitement kind of wore off, and they apparently charge for parking now. I parked up the street for free and only had a short walk, but the people trying to push you to buy extras outside of the store really kind of rubbed me the wrong way.

After my last post about Regulus and bringing up the Nov 14th date spoken about in the Trackdown - End of the World Episode again, I started doing some more digging. It's important you read that post before you can understand this one. You can find it here.
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The name of the asteroid that occulted the star Regulus for 14 seconds on March 20, 2014 was called 163 Erigone.
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https://en.wikipedia.org/wiki/163_Erigone

163 Erigone is an asteroid from the asteroid belt and the namesake of the Erigone family of asteroids that share similar orbital elements and properties. It was discovered by French astronomer Henri Joseph Perrotin on April 26, 1876, and named after one of the two Erigones in Greek mythology.
Erigone is a relatively large and dark asteroid with an estimated size of 73 km. Based upon its spectrum, it is classified as a C-type asteroid, which indicates that it probably has a carbonaceous composition.
2014 occultation of Regulus
In the early morning hours of March 20, 2014, Erigone occulted the first-magnitude star Regulus as first predicted by A. Vitagliano in 2004. This would have been a rare case of an occultation of a very bright star visible from a highly populated area, since the shadow path moved across New York state and Ontario, including all five boroughs of New York City. Observers in the shadow path would have seen the star wink out for as long as 14 seconds.
However, heavy clouds and rain blocked the view for most if not all people on the shadow path. The website of the International Occultation Timing Association does not list any successful observations at all.
Two single chord Asteroid Occultation events have been observed, in 2013 and 2014

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The fact that no one actually witnessed it is REALLY interesting and must play some sort of dynamic to all of this.
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The name Erigone seems to refer to 2 different Greek goddesses
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https://en.wikipedia.org/wiki/Erigone_(daughter_of_Icarius))

Icarius was cordial towards Dionysus, who gave his shepherds wine. They became intoxicated and killed Icarius, thinking he had poisoned them. His daughter, Erigone, and her dog, Maera, found his body. Erigone hanged herself over her father's grave. Dionysus was angry and punished Athens by making all of the city's maidens commit suicide in the same way. Erigone was placed in the stars as the constellation Virgo.
According to Ovid, Dionysus "deceived Erigone with false grapes", that is, assumed the shape of a grape cluster to approach and seduce her.

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Dionysus was the god of winemaking. He was responsible for the growth of the vines.
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John 15
"I am the true vine and my Father is the gardener. 2 He cuts off every branch in me that bears no fruit, while every branch that does bear fruit he prunes so that it will be even more fruitful."

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Sounds like this one is associated with an Antichrist like Figure pretending to be Jesus since wine represents his blood.
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https://en.wikipedia.org/wiki/Erigone_(daughter_of_Aegisthus))

Erigone would have been slain by Orestes along with her brother Aletes if not for the intervention of Artemis, who rescued her and made her a priestess in Attica. In some stories, she hangs herself after the child is born, though this may be a confusion with Erigone, daughter of Icarius. Also, after Hermione died, she is said to have married Orestes and gave birth to Penthilus. Or it is said she sued Orestes to murder of her parents.

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Orestes murdered his own mother then went crazy. Satan/Yahweh have other gods related to them where they are rejected by their mothers or don't have one, which is why they are narcissists who hate women and why we he kicks Adam and Eve out of the Garden of Eden (Mother Nature) and curses women to be subservient to men (read more about this idea here). Revelation speaks of the Red Dragon trying to kill a newborn baby and the woman who birthed him. She then goes somewhere in the wilderness, where God held a place for her until its time. God in this story apparently, is Artemis or Diana. She's not dead, she's just hiding until Orestes (humanity) attones for what he did. This stuff correlates to so much more, I might have to make another post just about this.
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I came across this date (11/14) towards the beginning of my journey and I never went back looking into it because it felt like a dead end besides a couple of VERY key significances. Nov 14th is both the day the "Great Comet" is discovered in 1680 and the day that Einstein presented his Quantum Theory of Light in 1908. Looking at this list now, I see WAY more correlations with this to the point it's getting ridiculous. And it seems this date is a sort of pendulum point in time because we have instances of people winning their freedoms, overtaking governments and rulers being killed and we have instances of enslavement, attacks and new kings getting crowned. I wonder which way Earth is going to go in this timeline. Also important to note 11/14 = 1 + 4 = 5 = 11/5 = 1 + 1 + 5 = 7
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"Remember, Remember the 5th of November"
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Transitions and Abuses of Power

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1380 King Charles VI of France crowned at age 12
1698 Spanish king Carlos appoints grandson prince Jozef Ferdinand as heir
1863 Nathan Bedford Forrest is assigned to command of West Tennessee
1881 Charles J. Guiteau put on trial for the assassination of US President Garfield
1881 Leon Gambetta forms French government
1907 The Third Duma (Parliament) meets in Russia; following Tsar Nicholas II's limiting of the franchise, a conservative majority holds sway and suppresses the radical elements
1908 Liberal candidate Jose Miguel Gomez wins national elections for president in Cuba
1915 Tomáš Masaryk demands independence for Czechoslovakia
1918 Republic of Czechoslovakia created with Tomáš Masaryk as its 1st president
1919 Red Army captures Omsk, Siberia
1920 The Russian Bolshevik army occupies Sebastopol, ending anti-communist attempts to regain the government of Russia
1921 The Communist Party of Spain is founded
1922 German Reichs Chancellor Joseph Wirth's term ends
1935 FDR proclaims Philippine Islands a free commonwealth
1935 Nazis deprive German Jews of their citizenship
1942 Last Vichy-French troops in Algeria surrender
1945 Java: Sutan Sjahrir appointed as forming government
1952 Greek General Alexander Papagos wins elections
1954 Egyptian President Naguib resigns, state of emergency declared
1956 Hungarian revolt put down by Soviet invasion
1957 The Apalachin Meeting outside Binghamton, New York is raided by law enforcement, and many high level Mafia figures are arrested
1965 US government sends 90,000 soldiers to Vietnam
1966 Muhammad Ali TKOs Cleveland Williams in 3 for heavyweight title
1971 Enthronment of Pope Shenouda III as Pope of Alexandria
1980 Guinee-Bissau Premier Vieira fires President Luis Cabral
1984 Zamboanga City mayor Cesar Climaco, a prominent critic of the government of Philippine President Ferdinand Marcos, is assassinated in his home city.
2001 War in Afghanistan: Afghan Northern Alliance fighters takeover the capital Kabul
2017 Armed forces drive through streets of Harare, Zimbabwe a day after military says its prepared to step in after removal of vice-president Emmerson Mnangagwa

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1959 "Girls against the Boys" closes at Alvin Theater NYC after 16 performances

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This seems to imply we'll be at union with both the masculine and the feminine. But all of these events seem to be polar opposites so who knows. It almost seems like women are going to take over and we're trading places. Like Dumuzid and Inanna. If this is the coming of the True Antichrist, then it won't be good and balance will not be achieved through them.
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Disasters and Attacks

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1775 -15] Floods ravage Dutch coast provinces
1927 World's largest gas tank in Pittsburgh, Pennsylvania, explodes; 28 die
1938 Dutch DC3 crashes at Schiphol, 6 die
1939 Oil refinery fire kills 500 & destroys Lagunillas, Venezuela
1940 During WW II, German planes destroy most of Coventry, England
1941 British aircraft carrier Ark Royal sank in Mediterranean, having been torpedoed by a German submarine the day before
1941 Governr-General Wouters of Dutch Antilles refuses Jews refuge
1942 -Nov 15th) Japanese/US sea battle at Savo-Island in Guadalcanal
1946 Dutch Dakota flight to Schiphol crashes, kills 11
1959 Kilauea's most spectacular eruption (in Hawaii)
1960 2 passenger trains collided at high-speed killing 110 (Czech)
1960 Riot due to school integration in New Orleans
1970 Marshall U football team wiped out in DC-9 air crash at Kenova, West Virginia, killing 75
1980 US performs nuclear test at Nevada Test Site
1985 Volcano Nevado del Ruiz Colombia erupts, 1000s killed
1990 France performs nuclear test at Mururoa atoll
1990 Great Britain performs nuclear test at Nevada Test Site
1990 Philippines hit by typhoon, 110 die
2016 7.8 earthquake cuts off town of Kaikoura, New Zealand, raising sea bed by 4m, and killing 2 people

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Currency Issues

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1931 Ottawa Mint Act is proclaimed in Britain
2002 Argentina defaults on an $805 million World Bank payment.
2008 Italy plunges into recession, its first since the start of 2005, after GDP contracts a steeper-than-expected 0.5% in the third quarter
2008 Hong Kong becomes the second Asian economy to tip into recession, its exports hit by weakening global demand
2008 Eurozone officially slips into recession for the first time since its creation in 1999, pushed down by recessions in Germany and Italy
2008 Elizabeth Warren is appointed to chair a Congressional Oversight Panel for the Emergency Economic Stabilization Act
2009 The National Statistical Service of Greece states that the country has been in recession since the beginning of the year
2012 A series of protests against austerity measures occur across Europe including Spain, Portugal, and Greece

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TV Shows/Movies/Plays/Books

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1851 "Moby-Dick" by Herman Melville first published by Harper and Brothers in the US
1883 "Treasure Island" by Robert Louis Stevenson is first published as a book by Cassell & Co.
1894 Start of Sherlock Holmes "Adventure of Golden Pince-Nez" (BG)
1905 David Belasco's "Girl of Golden West" premieres in NYC
1908 Oscar Strauss' musical "Der tapfere Soldat" premieres in Vienna
1945 H Lindsay and R Crouse's "State of the Union" premieres in NYC

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"The play's events... allude to Wendell Willkie, the utility company head who became the surprise Republican candidate for president in 1940. 'This is a play about a businessman who is a dark-horse candidate.'
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1952 First regular UK singles chart published by the New Musical Express
1960 Ray Charles' "Georgia On My Mind" reaches #1

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I said Georgia, GeorgiaA song of you (a song of you)Comes as sweet and clearAs moonlight through the pine
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1964 "Fade Out-Fade In" closes at Mark Hellinger NYC after 199 performances

The show spoofs some of the great film stars of the era, such as Shirley Temple and Bill "Bojangles" Robinson, and Governor is based on MGM honcho Louis B. Mayer, known for his roving eye for pretty starlets and deep-seated nepotism.
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1964 "Folies Bergere" closes at Broadway Theater NYC after 191 performances
1964 "Oliver!" closes at Imperial Theater NYC after 774 performances

A workhouse in Dunstable, England is visited by the wealthy governors who fund it. While a sumptuous banquet is held for them, the barefoot orphan boys who work there are being served their daily gruel. They dream of enjoying the same "Food, Glorious Food" as their masters. While eating, some boys draw straws to see who will ask for more to eat, and the job falls to a boy named Oliver Twist. He goes up to Bumble and Widow Corney, who run the workhouse and serve the gruel, and asks for more. Enraged, Bumble takes Oliver to the governors to see what to do with him ("Oliver!"). A decision is made to have Oliver sold into service. Bumble parades Oliver through the snow, trying to sell him to the highest bidder ("Boy for Sale"). Oliver is sold to an undertaker named Mr. Sowerberry, who intends to use him as a mourner for children's funeral

1965 "Baker Street" closes at Broadway Theater NYC after 313 performances
1965 George Abbott Theater (Adelphi, 54 St) at 152 W 54th NYC, demolished
1968 U.S. premiere of film version of Morris L. West's best seller "The Shoes of the Fisherman"
1973 "Good Evening" opens at Plymouth Theater NYC for 438 performances
1976 "Network", directed by Sidney Lumet, starring Faye Dunaway, Peter Finch and William Holden, premieres in Los Angeles and New York City (Finch - Academy Awards Best Actor 1977)

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This one warrants reading the entire plot as it fits too perfectly. Even ending with the assassination of the main character.
https://en.wikipedia.org/wiki/Network_(1976_film))
Network is a 1976 American satirical film written by Paddy Chayefsky and directed by Sidney Lumet, about a fictional television network, UBS, and its struggle with poor ratings

1981 "Raise!" 11th studio album by Earth, Wind & Fire is released (Billboard Album of the Year 1982) Event of interestEvent of Interest
1987 "La Cage aux Folles" closes at Palace Theater NYC after 1761 performances

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La cage aux folles literally means "the cage of mad women". However, folles is also a slang term for effeminate homosexuals (queens).
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1991 Michael Jackson's "Black or White" video premieres on FOX TV
1993 "Kentucky Cycle" opens at Royale Theater NYC for 34 performances
1993 "Twilight of the Golds" closes at Booth Theater NYC after 29 performances
1993 Puerto Rico votes against becoming the 51st US state
1996 "Chicago" opens at Richard Rodgers Theater NYC
1997 Disney's "Lion King" sets Broadway record of $2,700,000 daily sale
2000 Geddy Lee releases his first solo album, “My Favourite Headache”
2002 Film "Harry Potter and the Chamber of Secrets" is released, based on the second book by J. K. Rowling
2006 "Casino Royale", 21st James Bond film premieres in London, starring Daniel Craig for the 1st time and Eva Green, premieres in London
2012 "The Twilight Saga: Breaking Dawn - Part 2", based on the book by Stephenie Meyer, directed by Bill Condon, starring Kristen Stewart and Robert Pattinson, is released

As ridiculous as this sounds, this might be the most relevant of all. I can't fit it all here, so just go here and read about the plot.
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https://en.wikipedia.org/wiki/The_Twilight_Saga:_Breaking_Dawn_%E2%80%93_Part_2#Plot
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Her daughters name literally means "born again". Someone gets told they don't live in the world they think they do. Her child get persecuted and they gather "witnesses" to testify for her. The 2 witnesses in Revelation? The correlations here are crazy. Especially with the idea I've heard that everything man exalts, God hates and vice versa. So Pagan and witches seem to be implying something here.
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2016 "Moana" animated Disney film directed by Ron Clements and John Musker with voices by Auli'i Cravalho and Dwayne Johnson premieres in Los Angeles

On the Polynesian island of Motunui, the inhabitants worship the goddess Te Fiti, who brought life to the ocean, using a pounamu stone as her heart and the source of her power. Maui, the shapeshifting demigod and master of sailing, steals the heart to give humanity the power of creation. However, Te Fiti disintegrates, and Maui is attacked by Te Kā, a volcanic demon, losing both his magical giant fishhook and the heart to the depths.
A millennium later, Moana, daughter of Motunui's chief Tui, is chosen by the ocean to return the heart to Te Fiti. However, Tui arrives and takes Moana away, causing her to lose the heart.
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Space & Exploration Related

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1524 Francisco Pizarro begins his 1st great expedition, near Colombia
1792 Captain George Vancouver is first Englishman to enter San Francisco Bay

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Something to do with Pope Francis? Either Jesuit takeover of America or destruction of the Catholic church would be my guess.
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1910 1st airplane flight from deck of a ship, Norfolk, Virginia

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Another first involving flying vehicles
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1922 BBC begins daily radio broadcasts from the 2LO transmitter at Marconi House

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Implying contact
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1923 Kentaro Suzuki completes his ascent of Mount Iizuna.

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1969 Apollo 12 (Conrad/Gordon/Bean) launched for 2nd manned Moon landing

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We just announced we're sending people back to the moon
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1981 2nd Space Shuttle Mission-Columbia 2-returns to Earth

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The 2nd space shuttle, Lady Liberty, RETURNS to Earth
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1983 First cruise missile placed at Greenham Common, England

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Those missiles were guided by light
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1984 Astronauts aboard "Discovery" pluck a 2nd satellite from orbit

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More references to a 2nd moon or "satellite". With "Discovery" plucking one from orbit.
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1984 NASA launches NATO-3D

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Implying this 3D world was "launched" or created?
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1994 Space shuttle STS-66 (Atlantis 13), lands

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Atlantis? 13 is the mother again.
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2012 CFBDSIR 2149-0403 is discovered, the closest rogue planet to earth (100 light-years away)

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This is a giant indicator.
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Scandals

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1550 Pope Julius III proclaims new seat on Council of Trente

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Apparently he was fucking his "adopted nephew" which was a big scandal for the Catholic Church
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1943 J Postma, C Schalker, D Goulooze arrested for leading illegal CPN

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CPN scams involve social security numbers and escaping bad credit.
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1991 American and British authorities announce indictments against two Libyan intelligence officials in connection with the downing of the Pan Am Flight 103

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Russia downed a flight and I don't think anyone has indicted them yet
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1986 SEC imposes a record $100 million penalty against Ivan Boesky

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Fined for insider stock trading, the highest fine ever at the time for a single person.
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2002 The United States House of Representatives votes not to create an independent commission to investigate the September 11 attacks

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Now this is VERY interesting. Trump has repeatedly said he would expose 9/11 and I've had this theory for a while that he would use this information to end the investigation and take complete power.
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1976 War criminal Pieter Menten captured 1 day after fleeing

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He was a Nazi. A Dutch writer was involved in his capture. I'm noticing a lot of references to the Dutch. Apparently they were very complicit in atrocities of Nazi Germany and they had the highest percentage of Jewish deaths in Western Europe, 75% of them died. A lot of Nazi's actually hid out in these areas to avoid capture. The Little Baron Trump books say he changed his name to a Dutch name. Trump himself lied and said his father was Swedish. I think it's pretty obvious what this means.
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Miscellaneous

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1666 Samuel Pepys reports on 1st blood transfusion (between dogs)

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Almost seems like an illusion to genetic manipulation. The Greeks called the city where they worshiped the Egyptian god of the Underworld Anubis, the "city of the dog". Jesus referred to a Canaanite woman as a dog once. Trump also called Omarosa a "dog". Keeping with my theory that almost 100% of the negative things Trump says about a person are projection, which means he's really talking about himself, this is very interesting. Especially with his love for Black and Gold color schemes on his "Towers" which is very Egyptian. Ramses II also had red hair. Which means he was an Edomite. Ramses II is mentioned specifically on Cleopatra's Needle, one of which is a mile away from the black inverted obelisk that is Trump Tower. Ramses II sounds an AWFUL lot like Trump. Loved to build monuments to himself and over exaggerated his accomplishments. He is very revered though and thought of as a great Pharaoh, according to what was written about him at least.
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1675 Pope Clemens X declares Gorcumse martyrs divine

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They were 19 Catholics who were killed for being Catholics
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1832 First streetcar (horse-drawn) (John Mason) debuts in NYC; fare 12 cents rode on 4th Avenue between Prince and 14th Sts

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The Mars Rover was literally just driven around NYC
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1896 Power plant at Niagara Falls begins operation

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Implying a new power or power source is coming?
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1967 The Congress of Colombia in commemoration of the 150 years of the death of Policarpa Salavarrieta, declares this day as "Day of the Colombian Woman"

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Columbia was originally a name for the goddess of America, which is essentially Lady Liberty. If the Messiah really is coming, this is implying it's a woman.
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1969 2nd Vietnam Moratorium Day in US

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This was a sit in to protest the Vietnam war
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1972 Dow Jones closes above 1,000 for 1st time (1003.16)

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This seems to be a good thing
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1973 Canada begins production of Olympic coins

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The Olympics was the celebration of the Triumph over the first gods, the Titans. Although its just a sham to fool the people into thinking they are free now when the old gods just changed shape into new ones. Like the Phoenix being reborn.
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1975 Spain, Morocco and Mauretania sign accord about Spanish Sahara

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Spain gave up land due to pressure from the UN
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1976 "Don't Step on My Olive Branch" closes at Playhouse NYC after 16 performances

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This is a play about Israel. Olive branches represent peace
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1977 Egyptian President Anwar Sadat repeats willingness to visit Israel to Walter Cronkite

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Interesting. Egypt is a metaphor in the Bible for a place of struggle as well as being a real place.
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1981 Old Dutch Windmill in Golden Gate Park repaired and working again

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Apparently this is just one of 2 different ones. The other one called Murphy which is on the west side of the GOLDEN GATE Park.
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1982 Polish Solidarity chairman Lech Wałęsa freed

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Just gonna have to read about this one for yourselves, it's very relevant.
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https://en.wikipedia.org/wiki/Lech_Wa%C5%82%C4%99sa
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1990 Michael Heseltine contests Margaret Thatcher's leadership of the British Conservative Party

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A challenge to the conservative party
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1991 Cambodian Prince Norodom Sihanouk returns to Phnom Penh after thirteen years of exile

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13 is associated with the mother principal of the soul. She's been in exile, represented by getting kicked out of the Garden of Eden.
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2001 OPEC announces that it intends to cut its crude oil output quotas by 1.5 million barrels per day effective, but only if non-OPEC producers cut their output by 500,000 barrels per day as well

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Oil shortage coming?
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2007 the last direct-current distribution by Con Edison was shut down.

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Is this indicating the power will be cut off or is it a metaphor for humanity itself?
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Children's Day is celebrated on the 14th of November in India as a tribute to Jawaharlal Nehru, who was born on November 14, 1889. Jawaharlal Nehru, who was fondly called Chacha Nehru or simply Chachaji, was known for his love for children. On this day, chocolates and gifts are often distributed among children, while schools organize different events such as debates, and music and dance performances. It is also a common practice to distribute gifts like clothes, toys and books to orphan children on this day.

New to Card Counting. Live an hour west of DC. What are the best casinos to count cards? Been to MGM, Horseshoe, Charlestown, and so far Charlestown seems best. I heard MGM has CSMs but I must have missed them. I have no problem making a little drive for a good game. Anyone have success with any casinos around this area?

Hey guys, I'm sitting at work now back in Arkansas, and thought I'd give a brief rundown of my experience in Vegas for the first time for those that are in the same boat as me.
I'm a 30/M and my girlfriend is around my age(she'd kill me for telling everyone her age, typical female. ;). My birthday was in January, and she decided to surprise me with tickets to go see my favorite comedian Bo Burnham at the Hard Rock. I've never been further than Texas to the West, so I wasn't really sure what the expect, but I can easily say Vegas... is no Arkansas. ;)

• Airfare - We decided to be cheap and use Allegiant Airlines for the flight. The airline that charges you for each checked/carry on bag, to assign seats, to use the bathroom, everything. The fees were higher than the flight. The trip over was uneventful, but the trip back was exciting. Halfway during our takeoff, our pilot had to slam on the brakes due to an emergency maintenance light popping up right before we were to lift off the ground. We were stuck in the plane for 2 hours while they banged and hammered whatever broke. We also were delayed 20 minutes because a couple was late and couldn't be found. They showed up right at takeoff, and were arrested for banging on the terminal door and breaking it. Federal offense and what not, so they might be in Guantanamo now, who knows.
  
• Hotel - Stayed at Polo Towers for free. GF's boss owned a timeshare there. It was decent, but I loved the location. Right in the middle of the strip and close to everything. We get suckered into a timeshare presentation since Polo Towers was offereing free show tickets(Rock of Ages, was awesome). Don't listen to the "Only lasts 90 minute" spiel, it lasted 3 1/2 hours, and you have to say no about 10 times for them to let you leave. Worth it though for free $200 tickets. It was old, but still pretty nice, with a heated pool and hot tub on the top overlooking the strip. Each time we went up there, the hot tub was taken, so that's a bummer. It sits right inbetween the MGM Grand and the Paris, so if you're looking for a decent place to stay, it works. I have no clue what it costs compared to those(we were there for free afterall), but I can imagine it's probably cheaper. You shouldn't be spending your vacation cramped up in a hotel anyway.
  
• Casinos - Casinos were pretty cool. We aren't huge gamblers, so after a couple they all started to look the same. (don't hate me). I decided to take a $20 into each one we went to, and I managed to win nothing, so that is why I hate gambling, haha. Drinks were expensive(we didn't gamble enough to have anyone offer us anything free), so that was disappointing. If you enjoy gambling, I'm sure you'd love it, but I much more enjoyed my time spent outside. I will say though, the Venetian was great and the Gondola rides were beautiful. Listening to the guy sing while he was rowing up the water was amazing. Caesar's Palace was huge as well, and I'm pretty sure the real Caesar has never visited. (thanks Zack Galafanakis)
  
• Transportation - if you are travelling with a group/Wife/GF, make sure you both download the Uber and Lyft app. Both offer new user signup credits, and between both of us, neither of us paid for any transportation while there. We just got Uber here in the town I live, but this was my first time using it. From all the research I read about, Cabs/taxis are way overpriced in Vegas, so I'm happy with UbeLyft. Both apps are fairly easy to use(I preferred Lyft though), and drivers from both companies were pretty good. I definitely preferred Lyft though. The app was better, and the Lyft drivers were just much more talkative and interesting. One of our Uber drivers literally said nothing the entire trip, other than "thanks" at the drop off. We also considered the "Duece" bus, that runs up and down the strip. It's $8 a day, but makes so many stops that it was better to just walk.
  
• Food - Food surprisingly wasn't as expensive as we thought. We ate at Mon Ami Gabe for Breakfast($30 for 2). It sits on the Strip across from the Bellagio fountains, and has outdoor seating which puts you right across from the fountain. We are simple Arkansans, so we just got Waffles/Eggs/Bacon, but man the bacon was DELICIOUS. Loved it. For lunch, we had 800 Degrees Pizzaria. The pizza crust was too thin and the sauce was too sweet for my liking. Pink's "world famous chili dogs" were a disappointment(my favorite is Ben's Chili Bowl in DC), and finally we ate at 35 Steaks+Martini at the Hard Rock($160 for food and alcohol) and it was great. Steak was cooked perfectly, was tender, and the smashed red potatoes were delicious.
  
• Entertainment - The whole point of Vegas right? We went and saw Rock of Ages at the Rio, and it was amazing. I've never seen the movie with Tom Cruise, but my GF and I are watching it tonight. The lead singer, Drew, was great and the Narrator was hilarious. I definitely recommend seeing it if you get the chance. The actors come out into the audience and interact which is nice. It's a little dirty(okay, a lot dirty), so I wouldn't take small kids if you can help it(we saw several under 8 or so). The main reason we went was to see Bo Burnham, and he was hilarious. He has specials on Youtube/Netflix, and is definitely worth a watch if you like "musical comedy". Definitely worth the trip. There is so much free stuff going on up and down the strip though that you can just do all the free stuff and not spend a dime. From street dancers, people singing, or pictures with a grown dude wearing a diaper, there's plenty to keep you entertained if you're on a budget.
  
• Fremont - We weren't sure if we would have time to see Fremont Street, but we squeezed it in Saturday night. This was how I actually pictured Vegas. Small, cramped streets full of lights and chock full of nastiness. It was great. So many local entertainers, and the light show above the street was great. We didn't get a chance to zipline across, but we will next time. Both ends of the Fremont Street Experience had rock shows going on, and they were both great. We went across the street towards East Fremont, and things got a little less lit and scary so we quickly turned around to avoid any issues, lol. I'm not sure if that part is any worse, but it looked it, and I'd advise staying away. We got to check out the "Heart Attack Grill" which lets you eat free if you weigh over 350 pounds. I kept trying to get my GF to go weigh herself in front of everyone, but for some reason she wouldn't(We wouldn't have eaten for free anyway :()
  
• The Strip - Awesome. Seeing the fountains at night was a sight to see. Seeing the homeless man on a crosswalk bridge with the "my ex wife got a sex change and ran off with my GF" was hilarious as well. All in all, definitely worth the trip. There is so much to see, and it seemed like each day/night, there was always something new to see as well. Got to see the Budweiser Clydesdales, they were in town promoting the grand opening of the Beer Gardens at the Paris hotel. There are also so many beggers/people try to sell you something. If you make eye contact, it's over. You apparently can find hookers very easily as well, just talk to the very sweet little old hispanic lady every block handing out cards with phone numbers.
  

I'm sitting here at work, so I'll format this better and add to it when more thoughts pop into my mind.
edit Added an album. Haven't edited any of the pictures and there may be a lot of duplicates - http://imgur.com/a/7yftt

I know this is a long shot, but I figured its worth a shot anyway.
I was in Vegas during the middle of October last year for a convention and one night while I was having drinks by myself in Toby Keith's I Love this Bar and Grill in the Harrah's, I got to chatting to a local couple that were there to having a few drinks and enjoy the music. After chatting for a hour or so we left and went to this...I guess you would call it a club. Its right next to the Harrah's and has kind of a circus tent. Anyway, we went in there and had a few more drinks and talked and they even offered to go hook me up with someone there. Very nice people. We parted ways after a few hours, I have the guy my cell number and told him to give me a holler, but nothing ever came of it.
So its a year later and I am going back to Vegas for the same convention and if they read this subreddit and see this, then I would love to try and meet up again. Here are some details about them so maybe it might jog there memory and prove I am not talking out of my ass. I don't remember there names.
Guy:
White
5'8"-5'10"
Wore a beanie hat. (Really? Its Vegas.)
Worked doing something with energy. Wind farms, solar, something like that. Said he traveled a fare amount for work.
Girl:
White
5'2"-5'6"
Blonde
Petite
She said she was a dealer for a casino. MGM maybe? She also gave me the best advice to come out ahead in Vegas. Dont gamble. She told me that a day earlier she had taken $20,000 or $30,000 from some guy at a table.
Me:
Ray from Washington DC
White
5'10"ish
I was wearing black and a black t-shirt with a pig on the back of it. (Free industry shirt)
I work as a lighting technician and designer for concerts/corporate events.
I am pretty sure they are/were a couple, or at least it sure seemed like it since they were definitely going at it while I was hanging out with them.
Anyway, like I said, I know this is a long shot, but I thought I would give it a try. If you happen to see this, let me know. I will be in Vegas next week and staying at the Harrah's again.