LC

I spent my childhood summers losing various belongings at playland just south of there

Same happened here. Safeco (Libery Mutual) quoted me $200+/month for one car. State Farm quoted me $100/month. No idea which actuaries are smoking the good stuff but i'll take some.

Does it account for the local differentials? OXY selling their oil at a higher $/boe vs. CNQ?

Damn cubs is that you? 4 plates woo. Get em. Next time I ski I'll try and remember to bring the old go-pro camera and you can watch me fall down a hill.

that’s exactly right. I bought a condo 1.5 years ago - financed at 2.75%. mirror unit just sold a few months ago at my purchase price. Except this was when the 30 year is pushing 6 or 7% All else equal that owner is paying quite a bit more per month. So I’m either sitting on a position where: I rent out at 40% profits, or if rates go down my equity skyrockets. I do great but the first time buyer trying to get a place? Maybe to raise a family or whatnot? They are fucked.

A big ole +1% on a low 7 fig sum. Grateful it wasn’t worse and frankly I’m not a great stock picker so any outperformance is lucky rather than skill. need to do my year end recap but from memory the biggest losers were tech - msft prob the largest loser. Took cap losses there shifting funds to goog. And then subsequently also took losses there.

As it should! War is terrible. The people of Ukraine are experiencing something very similar to that right now sadly.

An old WB interview - too short!

My own thoughts are: 1- whether amazon actually wants to close: they are slashing budget, and I don't have insight whether robotic automation is part of those budget cuts or not....will they find some way out of the deal? 2- as you say the downside if it doesn't close is probably pretty heavy

Grave of the fireflies - should be required viewing material for everyone at least once in their life

Good way of looking at it. Do you know if brokers are compensated as a % of the overall policy or is it fixed? I.e. are brokers benefitting from hard market pricing (and also hurt as price softens)?

Brokers in general seem to be good businesses. Financial products, insurance, cars, real Estate/mortgages maybe the latter is prone to cycles re: interest rates

Merry Christmas everyone!

Elon is going to have to make some real promises to get someone to take this off his hands. Hope his hair plugs are in tight.

On the 70-80% figure: I mean, mortgages I believe are going to be under 42% LTV? And I doubt the other 30% is food costs…

This is a problem with any machine learning/ data-driven approach vs. a statistical/ mathematical approach.

I owned in the past- thanks for bringing it up, I’ll take another look. Generally I was successful buying as it approaches 10x earnings and selling as it approaches 20x. I also thought it would be a decent takeover target for Berkshire.

Yeah I've noticed this over the past month or so and have been trimming the energy component of my portfolio.

For sure, but 50 years is a long time. Microsoft and Apple haven't even been around 50 years. Do we expect businesses which are currently printing money to continue earning outsized returns through 5 decades of competition, changing technologies and demographics, etc.? And do you expect businesses with such poor economics as you describe to remain solvent for 50+ years? It's possible (and has occured!) but those are rare cases. Competition is a real thing and over 50 years it's super difficult to beat. A lot of the surviving companies have a real benefit that others can't replicate. And in many times it's as simply as government protecting their national industries. Just points to consider!

Every time I contemplate this I think the more important question is, "What business will still be around in 50 years" I think once you can shortlist that group, you can make some educated guesses of which ones will over/under perform. I mean, Dinar mentioned L'oreal, for example. I have a lot more confidence that MSG or Wells Fargo will be around in 50 years vs. L'Oreal.

How the hell does someone like Cathy Wood get hired? Well, it's a rhetorical question but at what point does one say, "maybe 100x earnings is too much..." And for those making predictions about the unpredictable, it goes both ways. For every BTC=1MM$, there's a guy calling for 200$ or 300$ oil. It has definitely been an amusing year - Global Financial Stimuli ends and half the world licks its wounds while the other half parades in triumph. I'm up a whopping 6.5% YTD so I'm just wondering if there's anyone left in the middle, or is everyone else either broke or billionaire?

Well I’ll just say that (in the USA) 1- shouting fire (falsely) in a crowded theater is in fact legal, and 2- this was the argument used to jail those objecting the country’s draft of young men to go fight and die in WW1. We can’t have it both ways and nor should we! https://en.m.wikipedia.org/wiki/Shouting_fire_in_a_crowded_theater#:~:text="Shouting fire in a crowded,Supreme Court case Schenck v.

Yeah I agree. The guy said repugnant shit. Sorry but so what?