Palantir

I'm actually curious about this. So, if you exclude "sell to a greater fool" as a reason for buying, and an estimate of future cash flows as a reason for buying, what is the reason for buying Tesla? I just want to understand what you're getting at. Think of it this way - can you estimate TSLA, TWTR, or FB future cash flows? If you could, doing so requires ways of thinking that are totally different from value investing in say, a net-net. How many value investors do you see in these names? How many times do you see someone say "I'm going to put this in the too hard pile". Markets are pretty much segmented because investors fish in different pools. On paper, growth is a component of value, in practice, it is a different game. Are all investors in these firms expecting to sell to a "greater fool"? Those are momentum, not growth investors. Does that mean there is no legitimate investment case for investing in FB?

If you think that the only investment case for TSLA is betting that the next fool will pay more, then it is all the more evidence for why Buffett is wrong.

Jeff Bezos Mark Zuckerberg Phil Knight

That's a very trivial point. All companies are traded on their future cash earnings, but then is all investing the same? By that logic, all investing is value investing, and I don't buy that line of reasoning. It is impossible to really predict TWTR's cash earnings, and the lines of thinking that are used to analyze this stock or TSLA are very different from a "value" stock, which is why investors of one type rarely invest in the other, and that's the reason why value investors are utterly befuddled by some of these names ("I'm going to put this stock into the "too hard pile" :) ). Forget "joined at the hip", it's pretty much a different game altogether, and that's why Buffet is wrong.

They were at best, GARP investments with predictable earnings streams.

That's why Buffett is wrong. They are very different philosophies of investment with little or no overlap. It's no surprise that Buffett himself is primarily a value investor who rarely has ventured into growth territory (KO is not growth investing, GARP at best).

I think they are very very different. The people who are good at picking deep value microcaps will not be good at analyzing TSLA and AMZN.

Very good, I was mooting selling this, but it's only 1.3x book now.

As a counterpart to the other thread. I'm going to go with: "...most analysts feel they must choose between two approaches customarily thought to be in opposition: "value" and "growth...In our opinion, the two approaches are joined at the hip" - The Chairman

Which rock does your friend live under? :D (assuming he is a younger guy)

Even if market is overvalued does that necessarily mean a massive correction? Couldn't it just be a few years of mediocre returns? I think the bearish arguments qr no different than the ones argued for the past five years, then why is this time different?

But why dismiss TA? Isn't there evidence that momentum based strategies can outperform the market? Plus, there's a number of good trend following funds that do well.

I am reading 500 pages.

East Jerusalem Real Estate. You heard it here first. 8)

Is this a Queer Eye for the Straight Guy type of thing? I like it.

Shouldn't you wait indefinitely until value is realized if you are a true value investor? I mean, even if it has not reached IV in 10 years, it doesn't mean it won't do it tomorrow.

Why even start a fund though? Why not go through the RIA route? It must be easier to get clients that way.

Argentina's taking it today. Messi is the greatest of all time....

Blitzkrieg.

Which BIWS course did you guys find most useful? There is a basic one and an advanced one for 247 and 347 respectively.

Good stuff, I want to learn more about models, looks like BIWS is highly rated by most.

Brazil was unconvincing this wc and I expect them to exit. Now that neymar is done I feel there will be less chance of rioting....allowing them to make a dignified exit.

LOL that is how they mark thousands there.

11. Is (insert random occurence) a sign of a market top?

Argentina is taking this. Nothing will stop Lionel Messi.