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https://www.nytimes.com/2026/07/04/us/politics/trump-coin-crypto-investors-loss.html The number one use case for crypto continues to be grifting & scamming

I am not so sure about this. Markel breaks down their equity returns pretty clearly, the below is from 2025. The 20 year return is pretty good but based on my calculations Fairfax has done better, ~15% CAGR including the negative impact of hedging and positive impact of CDS and TRS. I include all those elements because they are all active decisions taken which either add or detract from alpha.

Interactive Brokers gives me time weighted rate of return - all time, YTD, etc - that I can compare vs indexes and I withdraw frequently

All the best in your future endeavors! you have been great here!!!

Sadly 3:0 to Morocco, as Canada essentially just ran out of gas/expertise. A great run for both Canada, and the remaining African teams. One has to think that from here on out ... there are going to be a lot more trades with the elite farm club teams of Europe and South America, that raises everyone's game. A future First Nations/Inuit Renaldo would be quite something! SD

Antifa is a designated terrorist organization here in the United States - so it's no joke - Mafia or organized crime, but dedicated to overthrowing the US government through violent means. You're right about the left, but incorrect on the right in the USA. Like my buddy CW, I never hear definitions of "authoritarianism" which gets thrown around here on CoBF every day. The term always gets thrown around - but never any specifics. The USA is currently very polarized, but that's what happens when you are at an impasse - with one group leaning hard toward socialism/communism and the other group fighting to keep our traditional government from changing. The politics is very ugly.

To make it clear, I'm fully against fascism. I don't know WTF antifa actually is, because it seems like a Schrodinger's word. Like, say, "feminism" or "fascism" or "liberalism", the meaning of antifa seems to change based on the convenience of whoever's using it. I think politically, theoretically, you and are on the same side of centre--I'm basically a classical liberal. As such, I believe in things like freedom of speech, civil liberties, free markets, and low levels of regulation. I think the government should interfere with free markets largely in areas where there's good evidence that the benefits significantly outweigh the downside (universal healthcare with private and public components and anti-trust are the two that immediately come to mind for me.) Right now, the challenge for me is that in Canada, the left wing has shifted us way left, far from sensible classical liberal policies,and I get the sense that the same is true of Europe. The USA is doing the exact same thing from the opposite side. All of these are toxic trends toward authoritarianism, just from different sides. That's my point that polarization is terrible--it allows both sides to push us toward authoritarianism by saying that they're doing it to fight back against the evil people on the other side.

I look at them both ways but only time weighted should be compared to the index directly. My money weighted returns are quite a bit higher than the time weighted but I have to present the TWR on other peoples capital

As he did. Morocco - Canada 2:0

Lower those air conditioners!

Somehow Richard, I never figured you for an Antifa supporter that would tolerate the attempted murder of US officials. You're always full of surprises....better luck next time. You got duped by Yahoo News again - try the Judicial sources next time - and you won't be so gullible and naive. https://www.justice.gov/usao-ndtx/pr/antifa-cell-members-convicted-prairieland-ice-detention-center-shooting Nine North Texas Antifa Cell operatives were convicted today by a federal jury in Fort Worth, Texas for their roles in rioting, using weapons and explosives, providing material support to terrorists, obstruction, and attempted murder of an Alvarado police officer and unarmed correctional officers at the Prairieland ICE Detention Center on July 4, 2025. “These guilty verdicts and convictions rightly reflect the vicious, armed attack that these Antifa cell members planned and executed against law enforcement and detention center officers on the night of July 4 last year,” said U.S. Attorney Ryan Raybould. “Their terrorist acts, attempted murder, vandalism, and explosives launched at a detention facility were a far cry from some peaceful protest or First Amendment expression. Sixteen people have been brought to justice for these violent acts and their attempts to conceal them. We will continue in this mission to hold others accountable who perpetrate such violence and fund these ANTIFA groups in the Northern District of Texas.” Trial testimony reflected that, late at night on July 4, at least eleven of the defendants rioted and attacked the Prairieland Detention Center in Alvarado, Texas, which the U.S. Department of Homeland Security was using to house illegal aliens awaiting deportation. Evidence introduced at trial revealed that the defendants brought eleven firearms, body armor, and eleven military-grade first aid kits with tourniquets and other items for gunshot wounds to the scene of the attack. Many of these items were introduced by the government as exhibits.

Forget delay--if a majority of miners collaborate, the game is completely over. They can simply take all your bitcoin. Geographical jurisdiction isn't mutually exclusive with owning bitcoin. If you're concerned, you're allowed both a second passport and own bitcoin.

It's as I said--you support obvious political repression, abandon your support of free speech and the right to bear arms, because it's your side doing the persecuting. Everyone sees it. If you lived in North Korea, you'd be strenuously claiming Kim Jong Il had a round of golf with 11 holes-in-one because there were many witnesses.

Solid football from Canada here, they are not letting Marocco play their game and seems like Marocco doesn't have a good answer yet. Here is where a coach needs to intervene.

I use money-weighted returns. My broker website calculates money-weighted or time-weighted returns. The regulators in Canada have moved more towards investment firms providing money weighted returns, which provide a more realistic return on your account as it takes into account deposits and withdrawals from your account.

Thank you for the gracious wishes from you all, our friends! We just got back from viewing the tall ships and flyovers on the Hudson River. I agree with Spek (and Buffett!).

Very impressive.

I don't calculate returns but every so often consider an approximate net worth. To your point, it is probably worthwhile to maintain different streams of income in retirement that are not necessarily correlated and at least one of which you maintain complete control. Public equities are fine but other than the price you buy and sell, all the control is with someone else.

Happy 4th of July to all! 250 years old...you don't look a day over 150! Mostly happy, sometimes unhappy to be your bullied little brother! But you can't choose family. Cheers!

Do you guys calculate your returns before or after any withdrawals from your accounts to spend, or do you not live off your capital? I find it very different people who have a good side income/salary and invest surplus capital and those who are say retired and living off the surplus capital exclusively or for the most part in terms of how returns are calculated and what matters in terms of return thresholds.

can't a majority of miners delay your transaction long enough to make it effectively censored? also regarding wealth preservation, isn't geographical jurisdiction more useful than btc? For example, isn't it more useful to have a 2nd passport that lets you be at a certain place on the globe than to have bitcoin while you, the user of it, are stuck in one place and/or the person you want to trade with won't accept it?

So good and fun to watch. One of the few games that I watched most of and glad I did. That second goal by Cape Verde was one of the best ones I have ever seen.

I have been lucky to live here for more than 10% of it’s existence and I am convinced the best times still are ahead. Happy 4th of July!