LC

You're correct on the tourism factor. My take on ASUR was it was very dependent on travel to Cancun, and I didn't have any special insight as to whether tourism would be ebbing or flowing to Cancun more-than-expected over time. My gut was that other areas in Mexico would be developing for tourism, taking share from Cancun.

Curious what you like about OMAB relative to the other airports, ASUR in particular. I looked at ASUR and decided not to pull the trigger.

I took a watch on your recommendation and I agree. I enjoy the dialogue pacing - leaves more to the imagination and that is what Star wars (and disney) aims for.

I have near zero firearm knowledge - is there a significant difference between ammo? In other words, is ammo like tobacco, where everyone is selling generally the same stick but people have brand loyalty? Or is it like gasoline, where my brand allegiance is to Porsche or Mercedes (or Remington, Beretta) and I don't care whether I buy gasoline (ammo) from shell or conoco?

Has anyone ever had a clue?

Yeah I could see that, Cod Liver Oil (CLO?) thanks for putting it on my radar and framing it as such.

Found this just now - no claim to its accuracy but just reinforces that, ya know, "some famous guy said so" usually isn't a great foundation for investment research.

Welcome to the thunderdome.

Fair points from @StubbleJumper re: potential for future combined ratio increases and NII decreases. Appreciate the pushback - nobody should feel comfortable in an echo chamber. One has to weigh the probability of those two negative occurrences (i.e. the timing of a softening market and timing of Fed rate reductions) against growth in premiums written and growth in the bond portfolio. Perhaps we don't see as much reduction in 150/sh earnings that Viking estimates, due to growth in business and size of the bond portfolio.

On above average volume as well - so it's not just us COBF'ers buying

Bought some Nintendo.

Famous last words

Viking, I think they mentioned 10% percent on the new 1.8b mortgage bonds- so maybe more like 45m per q in incremental interest? Also, do we know if they have extended duration on the bond portfolio?

BTI owns ~30% of ITC (India Tobacco). India Tobacco is spinning off 60% of its hotel business to shareholders.

Yep, I was in over the weekend and the baby is back. Was a damn blast, every hood I was in was packed like 2016.

There's also the ICE Black Knight merger. Black knight agreed to divest some software to Constellation (probably a win for CSU as well) to appease regulators.

Interesting- I was thinking if the state does provide some backstop then essentially pricing is provided by reinsurers and “paid for” by the state (well, by taxes). So while price controls exist for the homeowner, ultimately they are paying a market rate set by reinsurers but paid for by their taxes. But seems that is not the case. Regardless I agree with you: price controls seem like a very uneconomic setup which will only push logical players out of the market, thereby increasing risk overall. Thanks for the discussion.

Thank you for the insightful post, Maverick. A question: given the dynamic as you have described, is it ultimately the state which is bankrolling homeowner policies in CA?

Perhaps out of respect for Prem? Doesn’t want to be seen stepping on peoples toes, especially at their family controlled company.

Yeah, homes that you live in are a bit different. I have two condos that I use/rent. Ski condo gets used most weeks during the season, then is rented on weekends. Then it gets used randomly during the summer/offseasons for fishing/hiking, or rented if people want it. Montreal condo gets used on/off during the warmer months, then gets rented during the schoolyear. Sure, all of that money would have earned more $ in the market. But then what, I have to Airbnb everytime I want to go skiing? Or have to find some random rentals during jazz fest over the summer? If I want to move to the mountains permanently in 20 years, now I need to deal with whatever the market looks like at that point? The forced savings part is useful. Shit ever hits the fan in my life, I can sell them. But I can't just sell and rebuy on a whim. Not like stocks where one day I sell OSTK at $30 and a few weeks later it runs up to $38, and now I'm like DOOF.

Does it have to do with the user "group" you belong to? Parsad is "Administrators" Luca is "Members" (plural) james22 (and most people I noticed) are "Member" (singular) No clue but just an oddity I noticed

I get the same kind of emails from some guy [email protected] If this forum is eliciting such a desperate response (over 50 bucks? Really?) then we're doing something right.

Are you Denver based? This is exactly what happened - COVID hit, people stopped going downtown for work. Turned into a ghost town and the homeless moved in. Now it's 3 years later, everyone in Denver would rather be hiking/biking/skiing/etc. so nobody has returned to the office, so the homeless have pretty much taken over. It's slowly getting a bit better but lagging other cities for sure. We just elected a new mayor who campaigned on "solving homelessness" but like Greg said previously, everyone promises to solve stuff they don't have the power to solve. That said, downtown Denver/16th street mall was always for tourists, business travelers...kind of like the 9/11 memorial in NYC...people who live in Denver never actually go there. Pretty much every neighborhood adjacent to downtown Denver is much nicer, better restaurants, etc. And then there's Cherry Creek for those with too much money and not enough taste (kidding :D)

I hate clutter so I try to use the same device for as many things as possible. I make montreal smoked meat one or twice per year and just smoke it in my grill...wood on the burner, pan of water next to it, and meat next to that. This is the recipe I used this past time: https://www.youtube.com/watch?v=ZuCr-YxfGSY I use the same torch for searing food as I do for sweating copper pipes https://www.homedepot.com/p/Bernzomatic-Trigger-Ignition-Start-Blow-Torch-Kit-with-14-1-oz-Handheld-Propane-Gas-Cylinder-and-Adjustable-Flame-333084/202539561

https://s29.q4cdn.com/983326523/files/doc_financials/2023/q2/2Q23-Earnings-Press-Release.pdf Univision Q2 earnings: • Total revenue grew 11% to $1.2 billion, driven by growth across all major revenue streams in both geographies • Total advertising revenue grew 10%, which was led by 29% advertising growth in Mexico that included a benefit from foreign exchange rates • Global subscription and licensing revenue grew 14%, driven primarily by ViX’s premium subscription tier • Adjusted OIBDA held flat with the Company’s core linear business continuing to fully fund investments in ViX • Engagement on ViX continued to grow, with 17% sequential growth in total streaming hours • The company expanded its market-leading soccer portfolio and secured the rights to two key Liga MX teams this quarter, now holding rights to 17 out of the 18 teams in both the U.S. and Mexico Adjusted OIBDA held flat, despite absorbing significant investments in the company’s streaming service, ViX. Operating expenses reflect these investments in ViX, including new original premium content, sports rights, marketing and technology, and grew 17% to $846 million.