LC

https://www.youtube.com/watch?v=VNYNMM0hXXY&feature=youtu.be This Hedge Fund manager just lost all of his clients' money over the course of a couple weeks (hundreds of millions of dollars), made this cringy "apology" video while wearing a Rolex, then shut his site down and went dark This was a pretty sad watch. But important too as a reminder of what can happen quickly!

Stan Lee's greatest cameo was the small part he played in all of our lives :D

Current state of robotics (Alibaba warehouse) https://i.imgur.com/MwQiJ5K.gifv

I wonder if we have another other quants here on the forum?

FWIW for vanilla products a standard is to use trinomial tree with persistant skew. Plenty of documentation online. A better place for these type of questions is probably here: https://quant.stackexchange.com/

RIP to a guy who created so many dreams and memories for kids, and adults. And who created a wildly successful and profitable franchise! Incredible what he accomplished. I saw someone posted this today about him and it just strikes me as awesome: https://i.imgur.com/DsKOfFc.jpg

1 - there are ways to value long dated derivatives taking this into account 2 - this may be an interesting starter read: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.613.1657&rep=rep1&type=pdf

https://www.cbc.ca/news/business/woman-fights-bank-for-financial-records-1.4895631 OBSI is a non-profit, independent consumer dispute service started by the federal government in 1996. It now only investigates two of Canada's big banks — BMO and CIBC. The three other big banks — Scotiabank, RBC and TD — jumped ship from OBSI and moved to ADR Chambers Banking Ombuds Office, a private company. "We have a situation where essentially banks get to choose their referee," says Morris. "And they're consistently choosing the referee that investigates fewer complaints, that finds fewer of those complaints in favour of customers, and has less transparency about their findings."

Hahaha excellent :D

You are definitely worth more alive. Thanks, she knows it but I like hearing her say it ;)

Cute concept but will never happen without enforcement. The human spirit has both good and bad and for every Buffett and Munger there's five more guys who will hide and hoard their great-great-great-great-grandaddy's fortune.

No good slacker. Just messin' ;D ;D I keep telling my wife to cancel my insurance because it will provide me incentive to never get sick or injured. She says I'm worth more alive than dead but hasn't shown me the math to back it up :P :P :P

Agree with the comments here. As time goes on your entry price matters less and less. Aim for reasonable and not a screaming buy, or you may miss out. If I can buy better-than-average companies at below-market multiples, that is my goal. If there is a dividend I am even more happy. Don't ignore tech. If you can identify tech companies with a higher-than-average rate of survival (google or apple perhaps?), I would not turn a blind eye to that area.

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