LC

Msge, oxy Silly Schwab didn’t execute my clipper order at 5.0x a few days ago

My girlfriend is a doctor - this is exactly right. (I am US based fyi) Find a doctor / specialist you like and is knowledgeable, and ask them for recommendations. Medicine is a small world and everyone knows who practices bad medicine. To expand - she is an allergist, she works closely with derms. They all know each other. Her good friend from medical school is also an allergist, but her husband is one of the leading heart surgeons in the area. And he knows other surgeons, etc. So asking my girlfriend (an allergist) for a recommendation on a surgeon goes thru a personal network of doctors. They aren't friends with crappy doctors (which absolutely exist - just like in any other field).

36 and skiing way more than I did in my 20s! A win for sure. Drinking less, partying less, but still manage to have some fun. Slang pizzas at a show for a bunch of 20 year old wooks a few days ago, was a great time. The pizzeria is great, free concert tickets is fun Definitely can’t do it back to back to back days anymore, though. Camping/fishing/hiking season is here, going to plan a few 14ers and spending a week later this month at “the secret spot”. Looking forward to that! I figure don’t fuck around too much, exercise a bit, keep doing stuff that excites me, don’t get someone pregnant, and I can maybe keep this train on the rails for another 30.

While nobody is above constructive criticism, I've certainly bought into companies with volatile economics (such as airlines) and sold out when I should've been buying more. To me, this is an understandable error on Buffett's part. However, never in my life have I thought about going short 100+% of my entire investment portfolio based on a macro outlook and a political/election driven opinion (of which everyone and their uncle has got, and is worth about as much). To me that is loopy, which is why I think Prem deserves the increased scrutiny. All that said, I am more than doubly invested in FFH compared to Berkshire (~27% vs. 11% of my investment portfolio) as I think the upside is greater at Fairfax. But I also keep a closer eye on Prem and Co's decision.

Schwab: 1. Your order cannot be accepted. This security KTBA is accepting closing transactions only. (DO911)

Don’t stop at bolshie, SD- go full on Trots!

I grew up a few blocks from my paternal grandparents on the east, and maternal grandparents on the west. Both my parents worked, and having grandparents watch the kids was the "norm". Now they were poor, off-the-boat adult immigrants...without a lifetime of savings to go travel the world, have a vacation home in Florida, etc., which perhaps nowadays grandparents are doing.

People lie, Paul.

Execution i think is the biggest concern. Two fronts: when will the insurance market soften; how will the equity investments (and future decisions) hold up. Particularly, if US interest rates hover in the 5-7% range.

Depends what you want. I am not a big fan of travel- but 3 homes in 3 locations I love, and income enough to dine out in each…I don’t want more! I ski, I hike, i fish for recreation. Good food, cheap wine, a smoke, a beautiful woman, I am a happy man. Only people who care about stuff like Davos are egotists and sycophants.

https://boredbat.com/the-housing-market-has-never-been-this-unaffordable-for-new-buyers/

Show me the audited records Explain exactly how you’re using “basic trend lines” “volume” to trade. Nobody ever seems to publish those two. Not calling out these folks in particular, but my guess is these guys spend more time on their digital sales funnel than anything else.

Do we know who the swap counterparty is? I'd imagine a Canadian bank?

I voted 6. Frankly I think it took them too long to correct the errors of the 2010s- and i think they are selectively fair/friendly/honest. I do believe they are talented

You think so? Everyone I talk to is more excited about 5% high yield savings accounts and their 2.75% mortgages. Stocks are dead, long live stocks.

Weren't we having this same conversation 10 years ago? At this point, Apple should just buy Citi and rebrand it Applebank if they really want to get into the lending game.

Wow- a true legend passed. RIP

Yep. I've only recently gotten comfortable staying around 100% invested regardless of the market environment, and using margin (rather than a cash balance) to go above/below depending on macro conditions and how confident I am in my ideas. It started in COVID with such giant sell offs as if humanity was ending, and Greg's posts on how he thinks about his overall portfolio, and then even recently the post on how Buffett used leverage during his partnership days. Someone will always have a reason to predict financial apocalypse, and yet here we all are.

Does it have anything to do with Indian regulatory environment? I thought non resident Indians had some additional hurdles to investing in India particularly if they want control ownership. I am no expert by any means so may be totally off base here.

Saluki, did you grow up in the Bronx? Just curious, as I am no stranger to gun hill road. On rent control - I agree. The model for a while now has been rent stabilization and 80/20 buildings. Generally most people agree you need market rate units to carry the rest. True rent control is probably gone - but rent stabilization which gets escalated when a unit turns over, that is OK with me. Not a lot of broke NYC landlords.

Agreed. I bought more today. BIAL is a great asset.

Where’d you eat in Denver? I may have to add it to my restaurant list!

A recession is defined as 2 quarters of negative GDP growth, OR anytime any metric I choose goes down so I can smugly say I told you so.

I took a loss on the FHN deal. Wild how external forces (industry in disrepair, regulators with axes to grind) prevents two willing companies from merging. C’est La vie. Gratefully a sub 1% flyer position.

What was your sell rationale on UMG?