LC

https://www.telegraph.co.uk/technology/2018/11/03/dozens-us-spies-killed-iran-china-uncovered-cia-messaging-service/

BRK and Cash, about a 60/40 split Not for lack of ideas or anything, but I'm a year into a new house and spending most of my time (and cash) on projects. Fun :D

Got any proof?

For (1) I disagree with grouping value investing and index investing into the same bucket. They are not the same. "Value investing" is a meaningless phrase. It has no standard meaning, it is different to every manager. As Heiko mentioned, a "value" strategy could be statistically defined and implemented in an automated fashion - like a quant strategy. I personally believe Rentech uses value strategies as part of their algorithms. So I am having trouble with this question. Why don't fund managers buy indexes? Some do - see Vanguard etc. Some do not because it would put them out of a job. You say "better and more well-established" - says who? All the baloney that value eventually outperforms XYZ is just marketing. I buy into it - but there are countless billionaires who disagree and their pocketbook trumps mine by a longshot. It's like screaming at the crowd, "If you only did things my way, I would be rich!" For the second question, it's a mix of all. Hell, luck probably plays a role as well. Plenty of great managers with low AUM out there. Plenty of great managers with high AUM out there as well. Same with shitty managers. My problem with fund managers is consistency. Only a handful are great across decades. Even less are accessible to me as an individual investor. And it's difficult (for me, impossible) to pick "the next one" - so I lean heavily on Buffett/BRK while he's around and plan to do the rest myself.

Using data from 08-16 is not totally biased. 08-09 was a huge stressed timeframe. The data there will reflect that. Same with areas of 2010/12. Additionally if they are using global data, other countries have experienced stress during this timeframe. There is a sales pitch behind tons of things. Value managers are pitching their funds - the majority of whom underperform. Being a value investor does not guarantee outperformance. Being a quant investor does not guarantee underperformance.

Also it's a good idea to avoid retirement states where these lecherous cretins prey. It may be fine to live there to collect low/no state taxes, but keep your assets in a trust elsewhere. Finally, screw the corrupt assholes who are involved in all this. The judges, doctors, lawyers, etc. All of them can rot in hell. Makes my blood boil.

Bought more BRK a few days ago. Easier than updating my forum signature.

Holy crap this is some bullsh1t of the first degree. Truly terrible - and as the article mentions the problem persists in other retirement areas. I can't imagine what I'd do if someone tried pulling this on my folks.

Have to look deeper at revenue mix as well.

See what oddballstocks says in AMZN thread: he claims that companies have to deny it by law if it's some kind of national security investigation? I have no clue if this is true. Somebody more knowledgeable in laws/etc has to comment. 8) I am not sure about that from a legal perspective. However just logically it makes sense. If you are a gov't contractor with ties to strategic assets your lips are definitely tied.

Wow quite the development, thanks for posting hyten!

Fascinating article: https://www.bloomberg.com/news/features/2018-10-04/the-big-hack-how-china-used-a-tiny-chip-to-infiltrate-america-s-top-companies

Real value investors go the extra mile: https://www.framedart.com/keren-su-danita-delimont/baby-calf-cow-farm-animal-orissa-india-print-793857.htm?sku=P793857&source=GoogleAdwords&ad=P793857_GoogleShopping&utm_source=google&utm_medium=cse&utm_term=793857&gclid=Cj0KCQjw0dHdBRDEARIsAHjZYYDTT21_oYaCqg8NQ3CsfpMEAy23KI1t67do80z4l0ZS9-HdX4gZcSIaApx0EALw_wcB

https://www.nytimes.com/2018/10/01/business/trump-nafta-usmca-differences.html Memorable changes (to me at least) -Increased production of automobiles in US -Side-deals to exempt Mexico/Canada-produced automobiles from tariffs -Slight increase of access for US dairy and financial firms in Canada -US pharma IP protected in Canada I didn't really notice anything game-changing but I have not read the full text of the agreement.

This is a net-negative solution. Take student loans. Yes you solve the problems of recent graduates with excessive debt relative to their earning potential. You also fvck over a lot of society because you have people who are capable of performing high-skill labor who will never be able to, because they do not have 250K liquid cash to pay for university.

On journalism - Sequoia fund routinely hired financial journalists as analysts. They eschewed typical investment analysts. Investigative journalism, the ability to distill facts and write a story - these are powerful skills.

I suspect the call buyer would exercise the call immediately, so you wouldn't get the chance to lend your stock. This is indeed what happened. Looks like my shares were called. For general education purpose can someone explain to me: why would someone buy a call at premium and then immediately exercise it? Why didn't they buy stock which would have yielded the same result without paying call premium? This is kind of what I didn't understand. What's the point?

I'd suggest working with the career office at your Uni to identify some recruiters in the finance/banking industry. That is how I got in. Do you know what area of banking and finance you are interested in? It is a very large field. Narrowing it down will make it easier to target your resume/CV. If you can talk to someone in the position you want - very helpful. Check LinkedIn for people's job descriptions for your target position and use that on your resume.

I like the categories, Dynamic. I fit into the : Solid companies at cheap prices/Growth at a Reasonable price (GARP) or even downright cheap buckets myself. The first I find hard because I am buying usually crappy businesses, the second I am not good putting odds on merger arb, and the last I usually don't have the expertise to know when high growth is sustainable or a fleeting image.

https://motherboard.vice.com/en_us/article/pa8dw8/prime-number-pattern-mimics-crystal-patterns Researchers Discover a Pattern to the Seemingly Random Distribution of Prime Numbers The pattern has a surprising similarity to the one seen in atom distribution in crystals.

Yeah these types of pop-status investments (Weed, Crypto, etc.) are starting to interest me in terms of learning how the hell to make some money off the stupidity of a market saturated with uninformed buyers. Buy the stock to lend, sell the call. Let's use the Mar'19 30-strike Call as it has more volume. You're exposed below: Stock Price - Call Premium - Interest received 120 - 89 - 6 months of borrow In the worst case, you'll need to make $30 in borrow between now and March 19 to break even if the stock goes to zero. Anything else is gravy. Also; you might want to use Eric's cost of leverage on the option chain to see which options have the cheapest embedded interest rates. You can perhaps play it that way as well: buy the stock to lend, cover yourself with options having the cheapest embedded rates (this is actually the same thing we are talking about but now we are quantifying it - you may be able to find better priced (in terms of embedded leverage costs) options than the low-strike Mar19 calls. )

Saw that last night. Pretty incredible there are people paying 30% per month to short this. Utterly stupid. Especially when, as I've mentioned, you can put on essentially the same trade, IE short a longer dated $20,$30,$40, etc call, pretty much for free. This whole thing is pretty breathtaking though. The other names, CGC, CRON, etc already look to have cracked. Been a while since I created positions via options but isn't there an arbitrage opportunity then, to buy the shares and lend them out (pocket the 30% or whatever your broker gives you) and recreate the opposite position via options so you are market neutral? edit: nevermind - you'd have to go long the puts which should have the 30% carry baked in.

She took one look at you paying for that pizza and thought, "This guy has a five-year plan" ;D ;D ;D

Probably a basketball.

https://www.tabletmag.com/jewish-arts-and-culture/visual-art-and-design/269564/the-end-of-middle-class-art An interesting article on how the current economic state of the world is affecting the art world.