boilermaker75

I get that you think Einhorn is an idiot, a point that has been repeated ad infinitum on this board in recent years. Do you have any actual thoughts on the point he's trying to make here? I thought the Pets.com-Chewy parallel was an interesting one. Of course Einhorn leaves out alot, like that Pets.com was nearly pre-revenue when it IPO'd. Chewy is an actual business. Pets.com was never much more than an idea. More broadly, I think the profitability of selling dog food on the internet is still an open question. Zooplus in Europe looks like it operates around break even. Even more broadly, I agree with Einhorn that many US companies seem priced for something close to perfection. A little OT, the CEO of pets.com was Julie Wainwright. She has done alright. She just took public the company she started in 2011, The RealReal.

“A man’s gotta make at least one bet a day, else he could be walking around lucky and never know it,” Jimmy Jones, horse trainer. "I believe life is a series of near misses. A lot of what we ascribe to luck is not luck at all. It's seizing the day and accepting responsibility for your future," Howard Schultz, Chairman of Starbucks Coffee Company. “The harder you work, the luckier you get,” Gary Player. "Luck occurs when preparation meets opportunity." Bear Bryant.

Off-topic, but can you recommend that book? Has been on my to-read list for a while. Big time YES! Couldn't put it down. Personal story told from the heart by Vance. Profound personal reflection. If you want to connect the dots as to the just concluded, most exciting presidential election season of our lifetimes, this book has got to come the closest to help you do that!! The kindle version is on sale today for $2.99 https://www.amazon.com/Hillbilly-Elegy-Memoir-Family-Culture-ebook/dp/B079L5DDB4/ref=lp_6165851011_1_3?s=digital-text&ie=UTF8&qid=1563715971&sr=1-3

Kindle version on sale today for $2.99, https://www.amazon.com/Influence-Psychology-Persuasion-Business-Essentials-ebook/dp/B002BD2UUC/ref=lp_6165851011_1_8?s=digital-text&ie=UTF8&qid=1563715971&sr=1-8

Just saw a screening of Armstrong. I highly recommend. I had the opportunity to meet and speak with Neil on several occasions. This documentary does an accurate job of depicting him, unlike the movie First Man. The director and three producers were there and spoke after the film. They said Neil's son provided them with all their family videos, and some Neil had from test flights, which had never been seen before. During the closing credits the background music was written by Neil's son Mark and song by his granddaughter Kali. Edit: Link to Kali Armstrong, Neil's granddaughter, singing Flight of Fancy, written by Mark Armstrong, Neil's son. Some of the film footage was never seen by the public before,

So sorry to hear that gfp. I too hope you and your family are safe and well.

Lance, I used to do a lot of option trading with TPR, but it kind of fell off my radar when I got called out back in January 2018. I just wrote some July 12, $29 puts. Thanks for bringing it back to my attention! Mike

My wife's family has a farm in Montgomery county, IN. They got their corn in but many others in Montgomery County could not. I was there July 3 and it was knee high, so will be ok. Passed many farms that were soy.

got a few friends took delivery of model 3 recently. they said tesla is doing about 100 cars a day in vancouver, bc! My neighbor got a model 3 a couple of months ago.--really nice car. I offered to trade him my 335i for it but he declined.

Thanks for flagging this boilermaker, I look forward to reading this one. You are welcome. It is a great read, I could not put the book down. I guess neither could Lin-Manuel Miranda!

Kindle version on sale for $2.99. https://www.amazon.com/Alexander-Hamilton-Ron-Chernow-ebook/dp/B000QJLQZI?_bbid=12523155&tag=ebookdealspagesite-20

An alternative, with terms based on major and results in universities having skin in the game, is the Income Share Agreement. https://www.pbs.org/newshour/show/purdue-invests-students-futures-new-model-financing?_ga=2.250327875.499797894.1561563684-1803910492.1535408883#

Was the reported FCF negative those years?

Kindle version on sale for $3.99 today, https://www.amazon.com/Intelligent-Investor-Collins-Business-Essentials-ebook/dp/B000FC12C8/ref=br_prlt_grdDy_pdt-2?pf_rd_m=ATVPDKIKX0DER&pf_rd_s=center-2&pf_rd_r=EJM1P6CNAH0WGH1BBQHZ&pf_rd_r=EJM1P6CNAH0WGH1BBQHZ&pf_rd_t=1401&pf_rd_p=2369a7b5-0000-4d2f-a40c-d948392d5e7a&pf_rd_p=2369a7b5-0000-4d2f-a40c-d948392d5e7a&pf_rd_i=1000677541

This is what I bought today. Really need it after this week!

I wrote some 200-strike, May 24 expiration puts earlier today. If put to tomorrow, essentially a limit order at 199.20.

The problem with the strategy is that if the stock goes straight up, you just get 10c/ share. Plus you have to pay short term capital gain tax, and tie up the cash in the account until put is expired. Like Warren said, if you like the stock, just buy it. You don't have to wait till expiration, you can buy the put back to free up the cash. I do that on occasion. Also, Buffett may say that but he has written about $5 billion of put options over the years. Buying it back depends on the spread and liquidity. May I ask what market data are you using for these? Just the data provided by Schwab—quotes, volume, open interest. I've never had an issue trading options on stocks such as WFC, BRKB, AMGN, BAC, GILD, BK, etc. my usual suspects.

The problem with the strategy is that if the stock goes straight up, you just get 10c/ share. Plus you have to pay short term capital gain tax, and tie up the cash in the account until put is expired. Like Warren said, if you like the stock, just buy it. You don't have to wait till expiration, you can buy the put back to free up the cash. I do that on occasion. Also, Buffett may say that but he has written about $5 billion of put options over the years.

Not stupid at all. Think of it as placing a limit order that you get paid for if it doesn't execute. Yes it may never trade down to your desired purchase price, but I find it works 9 times out of 10 to eventually get the stock at your desired price. It builds in the patience to wait for your purchase price.

I got put to on my May 10 BAC puts. I already have a LTBH position in BAC, my third largest holding. So this put sale was strictly a trade. At the close on Friday I sold May 24 expiration 30 strike calls for $0.33 per share on these shares I was put to.

Wrote BAC 30-strike May 10 expiration puts for $0.26 per share and May 17 expiration puts for $0.41 per share.

My IRA is with Schwab and they allow writing cash-covered puts. It is exactly the same as writing a covered call.

Boilermaker, why you don’t short longer term put, say 1 year? The put premium will be taxed at long term capital gain and there is a higher chance it will expire worthless. The premium is higher if the date is very short? Also, if you are doing this in an IRA or 401K account, then the tax is not so much of a consideration? Exactly, there is a rapid decay of the time premiums with a shorter term put. So typically my time to expiration is between 1-day and 2-months. Edit: But 90% of the time when I write a put the expiration is less than a month away.

I wrote some WFC 48-strike May 17 puts.

Holland, MI? Nailed it. 4 out of 5 great lakes agree that Michigan really is the best state. I live on the coast with hundreds of miles of sandy beaches on lake michigan on the sunset side of the lake. From my user name you probably surmised I hail from a neighboring state. Sampling some Holland, MI product this evening