LC

The real killer is that two Armani XLs are not the same size and cut. What you need is tailored measurements or an image file which are uploaded to a vendor who makes the item for you, and as far as I know both ventures exist already.

this kind of news is always sad...best wishes to the family at Ruane Cuniff.

I agree with Parsad about the time it takes to be really frugal. At some point it's just not frugal. I really like the outdoors and cooking, so that has the side benefit of cheap vacations (lots of camping/hiking/fishing), cheap meals (I love cooking dinner and making food myself such as fermenting pickles and other veggies, aging my own steak), and a green thumb growing all kinds of things. But if I didn't enjoy these processes, it wouldn't be worth it. On the other side, I always tip service people (waiters, bartenders, baristas, etc.) really well, especially if I think I will go back. It usually pays off: they let me in on social things they are privy to and such. Plus it almost guarantees excellent service.

I think in the general case, yes obviously investment benefits society. We need investors to pump capital into solar energy. In specific cases of course it can be harmful. Focusing on the bottom line at the expense of safety spending etc. can be terribly harmful. So I guess, like all things, there is good and bad and you can't have one without the other. Overall, investment has benefited society IMHO.

+1 How do you explain dealing heroin or any of the other various forms of criminal enterprise? Or cutting costs to the bone in 3rd world chemical plants to the point where poison leeches into drinking water? 1st - to the extent a black market profit is achieved, most of the time I think its still a sign of doing good. You are providing a customer with something desired. The exception is for items used to assist in future crimes (if you are aware of this), such as a dealer of weapons to a terrorist group. I never bought this argument. It makes sense logically if you want to rationalize it that way, but it's so far from common sense I want to cringe. So here I am, knowing that the heroin I sell may very well ruin your life and the life of your loved ones. Or it may not, and you may use it responsibly. Heck, how should I know for sure? I just met you 5 minutes ago before we walked down this dimly lit alley. In any case, you want it, so I'll provide it. If I don't someone else will, right? So don't blame me, I'm just making a profit, doing my daily dose of good for society.

As well as the ability to build and nourish a professional network.

I believe he is referring to the fact that the stock price should be reduced upon paying a dividend, and because the value of the call option is derived from the stock price, the dividend payment reduces the value of the call. However isn't this usually "priced in" to the premium of the call?

Ted?

I'm still open to the possibility that he has high-functioning autism and is able to read through an AIG annual in 3 hours and retain it because he experiences the information differently. Or not ;D

Call the CFO and ask...that's what I usually do with micro-caps. Sometimes they are open, other times not so much. If I hit a wall with management I heavily discount that and usually walk away from the investment...it's much more pleasurable to invest alongside good, candid management.

I use SPY & IWM, as I would be passively invested in those if I were not managing my funds.

I like our 1% club more than this one: http://nymag.com/daily/intelligencer/2014/02/i-crashed-a-wall-street-secret-society.html

Exactly. This is why WD-40 is an excellent example. Why would I ever bother doing any research or trying something new when it is in-expensive enough and it works? When my can goes empty I just buy another one the next time I'm at a home improvement store. I've had WDFC on my watch list for a while but haven't bought it. They also own 3-in-One Oil, which doesn't have the moat that WD-40 has, but is another well known brand and something cheap enough that you wouldn't bother buying the competitor. Is WD-40 a patented formula that can't be reproduced and sold under a generic store brand? If that's the case, long term, I would imagine that they'd have to lose out longer term to cheaper generic store versions. I've seen significant willingness within my network of people to switch the generic brands, whether its cereal or canned food at the grocery store, or the Walgreens-branded versions of common drugs like sudafed/zyrtec/advil. In all these cases, it's inexpensive items that are just being bought for slightly cheaper, but I have definitely noticed them taking up more shelf space at stores (as well as seen them more often at friends/family's homes). Depends on the strength of the brand. Hershey and Marlboro are still going strong. And it's cheap enough to warrant spending an extra buck for the peace of mind that it will work, that you know how to operate it, etc.

Enjoy it Eric...surfing is awesome. My fiancee and I have given up on vacationing, we're in love with Costa Rica and go to explore and surf as much as possible. If you fall in love and want to vacation, check out playa guillones/nosara.

IMHO totally depends on the business. For example, trulia burnt all their ebitda on marketing and their stock dropped 20%. Other companies with an entrenched position this would not be the case (ie major CPGs)

1% as well. Sanjeev, you're a good man and I love supporting folks that exhibit the characteristics that you embody. Pleasure to know you.

IMHO, contrarian or not doesn't matter as long as your investment is yours alone and makes sense to you. I find myself reading less and less of blogs and forums and evaluating investments independently/in solitude. Maybe it's just the cold New York winters :)

IMHO, the MC was abnormally low. And the debt was probably covered by the fixed assets, and they would have no problem making interest payments given their ten year performance. Even if business slowed down and they operated at break even levels, there was relatively little downside. Margin of safety was very wide. See any ideas similar to this around today? :)

Just read through these, at the end, I would've thought an informed buyer would like to pay in the 300m350m range, yet mr market was selling it for 80m!

My gut tells me...if we're arguing over 100K salary vs 200k salary vs possibility for 6 figures....well, then there are options. and one should be doing what you enjoy doing. i'd rather work at a fund for 100k/year than make 200k doing software dev...because i hate software dev and suck at it :)

possibly some marijuana stock? ;D

This was the case with FHCO last year. They received a large order and Poof, something like 8m of valuation allowances on their DTA were released and included in earnings.

Thanks for posting.

Defense wins championships

What are your thoughts on a company like valeant, which is more like a royalty stream on already developed drugs?