LC

I personally really hope Sanders wins, I think he's the best candidate the US has had since I've been alive. What makes you think Sanders is moronic? He's a socialist. It's extremely evident any socialistic system is sub-optimal by definition but people keep trying it because it matches their definition of fair (where fair is condired equality). Striving for equality is stupid. The more equal they make the lower incentive for skilled individuals to do anything of value. Motivation to do good is not intrinsic. This is such a black and white picture you are painting...First, the US is not a purely capitalist country. Look at the major government programs to see that. Second, unfettered capitalism has been shown to be both productive and destructive. Sometimes, very destructive. Reasonable regulation seems like the best option. Sanders has 8 main proposals (https://berniesanders.com/issues/how-bernie-pays-for-his-proposals/) Most of them seem reasonable to me. Frankly, the bigger issue is how much money is being siphoned away through tax-avoidance. I mean, some of them are even "anti-socialist". For example cutting government handouts to O&G companies: (http://www.foe.org/news/archives/2015-04-sanders-ellison-introduce-bill-to-end-135-b-in-fossil-fuel-handouts). I'm not exactly sure where you see the downfall of the American entrepreneurial spirit fitting into the above. What I see is stopping a lot of rich, powerful groups from avoiding reasonable taxes which are causing a lot of the income inequality and social strife in this country.

What makes you think Sanders is moronic?

Not sure if you're serious...but if so, that is such an illogical argument. Illogical if you want the system "to work" whatever that means to you, but not illogical at all if you're goal is the crumbling of the system. The more hatred and disgust politics engenders the less people will look to it to solve problems. The best outcome possible is for people to think of politics as a nasty process that is irrelevant to their lives and to dismiss it completely. Just curious if you can point to any human society that functioned well with this type of structure.

I agree: he was correct on the fundamentals and probably lucky on the timing. Im sure others were correct on the fundamentals but unlucky on the timing.

No way, Hillary is such a typical politician: tell everyone what they want to hear (integrity be damned) and line your pockets/accumulate power in the process. Give me a break. IMHO Bernie is the best candidate, but I am open to dis-confirming evidence!

Not sure if you're serious...but if so, that is such an illogical argument.

Unless they disagree with your preconceived notions!!!

With 100B he could buy Nike, Starbucks, or 3M. I mean, wow.

Thanks for the analysis, still digesting your conclusions.

I mean, that's insurance in general. This is why insurance is so tightly-regulated.

What I highlighted above in your quote is an ethical issue, not an issue with the rules governing GAAP or IFRS (the two major accounting standards). Nobody is going to teach you in a classroom that you shouldn't accept a bribe in exchange for moving liabilities off the balance sheet.

Accounting classes are mostly cookie-cutter. The stuff doesn't change very often and most aspect have stringent rules to follow. You can probably teach it yourself if you have the inclination. He's talking about ethics, not accounting. Yea I think you're being overly dramatic here. Bullshit accounting? What? Accounting rules don't change whether you learn it from Tyco University or straight from Munger's mouth. Double-entry bookkeeping is about as good as it gets. GAAP accounting is pretty damn good. The problem is, people will simply lie to steal people's money. That's called ethics and is much more difficult to teach.

sell shovels to them: commercial lease brokerage bankruptcy/tax services etc.

SCion Asset Management SCAM. J/k Burry :)

What's the diff between the F and Y adrs? My broker only lets me buy the Y. Are the Ys onshore and the Fs offshore?

I mean, Charlie can talk about how rational he is, but the reality is that the hatred for poverty and obscurity drove him to greatness: "but I hated poverty and obscurity and have satisfaction in coming a long way from where I started... Cicero says happy men in old age look back on a lot of achievements. Some say that’s damn selfish, but I like it. I’ve always hated poverty and obscurity and finally found my way out of them"

Same, also just locked in 3.5% for 30

to be fair, that's one of the few things i disagree with CM/WB on. i've always fallen into the "better to have loved and lost" camp.

You haven't made clear how removing public education is an improvement. Your suggestions, which boil down to "get rid of everything", imply that the existence of public education prevents education. But I would disagree: I attended public schools for the majority of my life. I've learned many things in public schools. Including how to deal with those "impeding education". I've also learned many things outside of school as well as a result of my own initiative. The two are not mutually exclusive. Additionally, other options do exist: Home-schooling exists. You can pay for private schools which ascribe to any number of teaching methodologies (montessori, harkness, etc.). I would also disagree that you can't "design" or "force" education. I was "forced" to do my "designed" homework on a daily basis by my parents. Their rule was, do your homework then you can go play with your friends. Well, it worked.

Too much regulation or absolutely zero regulation both cause problems. As with just about everything, moderation is best. Standards exist to ensure safety. Snake-oil salesmen exist in all forms, education is no different. What makes you think removing all regulation will have a positive effect?

i;d concentrate my efforts on the parents. they have the most motivation (usually) and know the kid best (usually). teach them to teach their kid the right values

Sanders imho provides the best long-term plan for the health of the country. The markets will eventually reflect this.

That's great, sounds like he has a strategy that has done well thus far. And now it sounds like the "pressure to do something" has overwhelmed him into fixing what already seems to be working just fine. Any of those four options will fail if your friend falls prey to the "urge towards activity". For example, take option (1): mechanical value-investing. Tons of people try this at different points in time and the vast majority abandon it. There are only a handful of PMs who continue to do so. Most can't sit still.

Congrats indeed. Much kudos to Patrick Bryne.

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