LC

It's not just you. It's only natural to be curious...when I was a child I used to ask my uncle every year if he would tell me his war stories. I didn't see him for about 10 years, and then when I did I realized - damn if he wanted to tell me, he would. For him, he didn't want it to be a part of his identity, or how other people viewed him, especially his family.

Trauma is incredibly difficult to address. In terms of wars, Vietnam was especially difficult on returning soldiers. Pushing or forcing a discussion is not going to be helpful.

https://www.sec.gov/fast-answers/answerspennyhtm.html

According to that I will live to 83. Better start saving

Agreed, fascinating. Good article and project

There's about 135MM drinkers in the US. Based on a 75 year lifespan you have a 4.8% cumulative probability (well, kind of) from dying from alcohol over your lifetime.

I would try finding alumni that work in related shops, try to get a gig thru them, make a good name for urself, then try to make a jump to the fund u are interested in.

you can try to value the largest subsidiaries on a standalone basis.

Pretty cool, thanks as always Joel for your contributions

I don't have too much experience but I did not get the sense these were long term value guys. More like medium term catalyst/ event driven stuff with more frequent churn.

http://www.telafinance.com/blog/can-you-hold-for-forty-years.html Figured the board may enjoy this short read.

No I don't want to be the top of the top at my craft. Frankly in most cases I have seen, you need to be born with a generational talent to reach that level. It is not a developed skill. I'd wager the majority of those in the 0.1% were born there (or somewhere close) vs. developing skill to get there. But to me none of that matters - you play your cards as well as you can and hope for the best.

Who gives a $#*@? Something about jealousy being the most boring of the sins.

I consulted with auditors for specific issues. They are in a tight spot: limited information, and perverse incentives. Difficult to make change when the cards are stacked against you.

I've argued for something similar to this. The question I have is, what is a good timeframe to judge a long-term investment manager? 5 years? 10? Let's say it's 5 years. If I were to pay the "perfect" manager - i.e. someone to make all my investment decisions for me, I argue that the compensation should be a performance fee of X% for all gains over the 5 year treasury. No management fee. The treasury is truly risk-free. Allocating to S&P index entails risk (equities could be overpriced, you could buy a basket of bonds or real estate instead, for example, and this is part of the investment manager's job of allocating capital to risky assets). Which is not a huge hurdle. The 5-year is aprox 2.75% these days.

We are in a giant bull market. And the banks have benefitted greatly from this. I don't think the next five years will look similar to the last.

I agree with Shalab. You can tell yourself how you "should" react to a large MTM decline. You don't know how you will feel until you experience it. This is where youth helps. Losing 50% on a 2K investment is a lot different than losing 50% on a 200k position.

FWIW I feed them this stuff: https://www.tasteofthewildpetfood.com/cat-formulas/rocky-mountain-feline-formula-with-roasted-venison-smoked-salmon/ 42% protein, with 2 cats 1 bag lasts about a month, maybe more. At $30/bag you're looking at 50c/day per cat.

Yep. 2 cats...12+ years on both. Only dry food.

This is incredible: I have determined after careful anaylsis, that everything for a destroyed carcass at the time and carnage that is left over. "Oh man, the BABY LAMBs are crying for help, and the SLAUGHTER OF THEIR KNIFE!!!!! Everything will be the SAME except for the dates, and I will triple check, and probably still have errors. The ACCR shareholder's MOTTO during the ONSLAUGHT: PAIN! What the hell?? :o

Math status: successful! ;D

Honestly, screw that. I don't "hold back" just because you can track down my identity. Fuck it, I have free speech and I plan on using it. If my boss wants to fire me because of my opinions, so be it.

Question Cigar. What was the feeling like when pulling the LOC to fund the margin account? I would've been scared shitless, I guess depending on how large of a chunk of net worth. Never had the experience myself, wondering what you thought about it.

What about a business model like Uber or Lyft. WW gives landlords a branded platform to attract customers. Landlords provide certain standards of service (minimum sq. footage, internet access, desk space, coffee etc.). WW takes a cut when clients book.

Sure. Imagine someone acquiring any profitable company with a major contingent liability.