racemize

I actually took that seriously for a little bit.

I do everything by custom spreadsheet. It's the only way I can keep a good IRR over time as well.

I've read all of his memos as well as the book, and would definitely recommend them all. The book is a nice book-end, and is well worth reading, imo.

That was great, other than the annoying women. Seems like all these shows are filled with people looking at laptops and interrupting throughout the interview...

200 million!

I missed that one, nice.

to be fair, he was explaining it to his audience--Munger doesn't have much of a need or want to do such explanations.

I'm just going to repost the reddit post: incidentally, r/SecurityAnalysis is getting pretty good...

+1

I'd like to know what he's paying for these--does anyone know? e.g., compared to current owner earnings EPS, whatever.

I'll add the positive news in housing being discussed elsewhere on the board.

Austin has entered a seller's market recently (low inventories, multiple bids coming in on houses). I think Texas is generally doing well.

average in?

that keyboard cover seems brilliant. Could be a game changer.

Wow, amazing. Thanks.

Gaming has typically been an issue for macs. However, recently, most major titles will also have an OSX release. You won't be able to run a lot of the smaller games, e.g., on Steam at this point.

That’s funny I’ve never been an Apple guy and I recently bought my first Apple product. I replaced my 7 year-old Creative Zen Touch with a refurbished Apple iPod Nano for $89 I was going to buy a new Creative mp3 player, but when I saw the nano for that price (cheaper than the Zen Touch 2) and realized the new Zen players where made out of plastic. I broke down and purchased an Apple product for the first time in my life. I like the design of it, the touch screen, and the durable feel it has, but I hate the fact that I need to use iTunes to interface with it. Apple and their damn closed lock-down environments is why I have never used Apple for anything and I’ll probably go with another brand again next time. Why can’t you just drag and drop mp3’s onto it like every other mp3 player? Extremely annoying, which is too bad, because the device itself is top notch. Needless to say I won’t be getting an iPhone or Mac anytime soon. you can drag them within iTunes, but perhaps you are talking about within the file system.

I agree completely.

I think there's a big difference here--now it is duplication not solely on the server. If the network is down, you still have your latest updated files. I assure you, the processing power of the macbook pro does not qualify as a "dumb terminal" =p.

http://www.kaltura.com/index.php/kwidget/wid/0_o4ytikhk/uiconf_id/4010561 http://www.kaltura.com/index.php/kwidget/wid/0_7uk6s1g1/uiconf_id/4010561

I'm not sure how she could possibly reach this conclusion: "The judge also said she isn’t persuaded by arguments that the intervention would delay or burden the proceeding." Either there are substantial questions or not, and if there are, it has to delay the proceeding; if not, why allow it?

our options are very limited--right now, we just have Davis, Tilson, Wintergreen, and Contrafund as value options, and then some index funds/retirement funds.

After reading Eric's story of quitting Microsoft to get access to his 401k, I thought I might ask: Has anyone pulled off a temporary leave of work in order to roll their 401k into an IRA? I'm sure I could talk my boss into it, if it weren't too involved.

I'm definitely in the camp where you don't need to be an expert in a field to be able to invest, though I'm sure there are specific companies where it is "too hard" unless you are such an expert. With the caveat that I have not read these particular primers yet, but thought they might be a good resource, there is a large difference between a primer and over-reading industry information. In my mind, a primer is useful for giving you the conceptual models for operation of companies in the industry and letting you understand the esoteric language that is used. For example, if you don't understand how reserving works in insurance or banks, or the language used by companies in that industry, a primer in reserving may be the means for helping you understand the SEC filings. The cost of 100 or 200 pages of reading to be able to more fully understand a 10-k is not that high, particularly if it helps you understand each further 10-k in the industry for the rest of your life. Moreover, there are times when you want more information about the industry or a company after reading the 10-k to round out your knowledge. IMO, there is a fine line between over-cluttering your mind with information and the Dunning Kruger effect (http://en.wikipedia.org/wiki/Dunning%E2%80%93Kruger_effect).

the iPhone app for stocks makes the yahoo financial news easier to read. Unfortunately, the google portfolio news still isn't that great... I wonder if there is a way to set up an RSS feed for each stock in yahoo finance and/or a google alert RSS feed, similarly. I bet that is doable.