LC

My buddy tried to start a grow op up in New England and it was a total cluster. Dealing with the town, the people, vendors and permitting…his group sold out to operators and did decently on the deal, but the weed industry is hard enough as it is (this ain’t 2015), why make it harder?

Well dropping oil prices may bring down the dreaded “inflation” and which would give our federal banksters pause to continue raising rates…which would see equity/housing+consumer markets rise…could be a built in hedge but frankly the world never works so directly. So just something to keep in mind.

Create the problem, sell the solution.

Stuff everybody already knew: https://kdvr.com/news/data/wealthy-people-flood-colorado-2020/

Now the dorks are talking about a share repurchase tax: https://finance.yahoo.com/m/d6ad8053-511f-3651-9afa-cc291a568254/a-stock-buyback-tax-is-added.html

Agree. A Yep that is the position I am in. It’s a crummy to see Fairfax mgmt screw minority shareholders.

What’s funny is how politicized the economy has become, and also how futile politicking the economy is.

Employment seems to be holding up well which I think is why most people are not expecting too much of an earnings decline: https://www.bls.gov/news.release/pdf/empsit.pdf

Colorado, New York, montreal, Italy. Generally in that order of operations as the properties are owned in the family. Spent the day fishing the yampa outside steamboat. Great to float also if that’s your thing!

I agree - I'd argue it's consumer mindset. I still buy Baci chocolates because that's what we had as kids. They don't taste as good as Ferraro et al but I buy them anyway because nostalgia is the best flavor there is.

If you like that genre, I’ll recommend again The Bear on Hulu. Even better than Burnt in my opinion.

Bradley Cooper is great - I recommend Burnt if you haven't seen it.

I have a portion of my portfolio for special situations. Merger arb and the like. I generally weight positions equally but underweight some positions which have more of what I call the bullshit factor. Think spirit airlines with 2 parties fighting over it and spirit obviously preferring the frontier bid (probably someone is getting paid??) despite jetblu giving a better bid. So I underweight something like that because who the heck knows what will happen there. i think they get popular when the market goes sideways and people are looking for uncorrelated returns. Everyone wants correlated returns in 2020. Nobody wants correlated returns in 2022.

The Bear on hulu - great season.

It’s been some product my folks had for years that I inherited pre 2012. Essentially an annuity and I keep 50k principal in it and just clear anything above that every December and donate the amount since it’s not much. But I keep it as some pseudo cash position if the US ever goes Russia and everything sells off like crazy 75+% amounts. It’s purely psychological and let’s me stay fully invested with the funds I actually use and manage.

Agree on that. I keep 50k in a 3% earning account. When shit hits the fan that’s where I would pull from. When shit really hits the fan, I can pull from the helocs. When the Russians nuke us, none of it matters anyways.

James, that is an interesting article, thanks for posting.

Happy Canada day! Happy 4th!

Agree with both of you. I believe he's self-diagnosed with aspergers and that may contribute to both observations.

Thanks for the info - that's what I've done since I was a kid. I enter from a public access point and stay within the stream. I know some states say only the water is public, the riverbed itself is property of the landowner. But I only recall once ever having an owner take issue with that. The only time I ever really leave the stream is if it's too dangerous to continue thru, usually then i'll just move downstream via the bank. I used to fish the esopus in the catskills and for decades this guy Ray owned a little cabin area on the creek that he rented out to people. He was a great dude, always shared a beer and smoke and whatnot. Well he died, his crappy kid took over and was just an asshole to everyone, lost all his customers and I think eventually sold the place. Still great fishing, though.

Sounds like he’d be better off looking on Hinge.

I've sometimes worked a stream down into private property - usually missed a posted note. But I always keep an extra cold beer to share in case the owner comes down. Never failed yet - and I usually get some good fishing tips out of it. Great story about Montana. I'll definitely keep that in mind, haha! I can certainly imagine some property owners being unreasonable. Speaking of Tom Brokow, I was a high school kid going to my buddy's place to study and sure enough who walks into the building but Tom Brokow himself. I asked my friend about it and apparently he owned the duplex above them. Frankly I'd rather own property in Montana than in the UES but I guess if you can have both, why not?

My buddy had the ole 7.3 powerstroke diesel. 01 model I believe. That thing was a beast. Someone stole it right out of his front driveway. He had it chipped and boy did it scoot. Got it replaced with the 6.7 f350 which he loves but I haven’t ridden it yet. I was looking at the 6.7 off his recommendation, I prefer ford but cant shake a fist at the Cummins engine. So that’s my backup. Probably going to give the 6.7 another year or two to see how it shakes out before I make my choice. I’ve been doing a lot of backcountry hiking and fishing. Just spent a week out by crested butte/Taylor lake. Incredible. Tiny little streams I’m just yanking out rainbows and cutthroats with my 3wt. It’s amazing. Montana I haven’t done but I hope to get up there and do some riding and fishing.

Which year F250/350s are those? I was thinking about picking one up to carry a slide in. Having a great summer here - hiking and fishing with the lady friend, essentially all through western colorado and southern wyoming. Saw our first moose a few days ago and a crazy rodeo out in encampment, wy (which I think is owned by John Malone).

Yeah I too am wary of a fall off in corporate earnings. Companies with one of a kind assets and resilient earnings are at a premium in my book.