Palantir

^ TMI brah.

Will PabraiCo be publicly listed?

This is some serious cloning.....

^DVY. But that adds some sector bias.

What's wrong with sticking it into a single index fund and forgetting it? As for 2008, it was not a predictable event that a naive investor could have planned for and adjusted his allocation to deal with.

IMHO, she should put it into the highest risk, highest return asset class she can find. This is a very long term investment vehicle, that she will not use for at least 30 years, so the goal is to make the highest possible return, and given zero liquidity needs, risk is immaterial. So 100% small cap index fund for me.

This. Just stay away from the finance sites.

Question to Mr Sanjeev or anyone else running a small fund - who are your typical investors? At a small size it is unlikely institutions are interested, but at the same time, value oriented funds may not be suitable for your typical small investor - they can have stretches of underperformance or high volatility. So it doesn't seem to me that there is a large potential investor base...

ooooooooo

^ Because the debtholders have a claim on the income too - principal.

You can use NI/EV, there is no rule that you must compare a before tax figure to EV. I don't use NI, so it is moot for me though.

But should we do Android OR iOS? Discuss. ;D

I'm an Economics major about 4 years out of college working for an investment office, which I recently joined. Prior, I was at an RIA. I'm also surprised to see so many people with engineering backgrounds. I had assumed that most on this board would be more towards the IB/ER crowd (maybe that's WSO). Perhaps, I think it is because finance attracts quantitatively minded people, much like engineering does, and they took up finance later in life after learning about value investing.

So...does "costs a penny to make, sell it for a dollar, addictive, and terrific brand loyalty" maxim apply here?

I hate it when half baked plans go up in smoke.

Do let us know what you decide on CBRX. I own a call, but stock hasnt moved...... :-[

^^ Why Turkey ETF?

^I think Brian Greene's books are also an interesting read, and easier to read than Hawkings.

It is known.

In that case, I withdraw. :D I have incurred the wrath of the Apples already, I can't wage two fronts.

- How do you know that oil will be the most important commodity? I know you addressed this, but I think this is crucial to consider. - Who is "you"? :) More specifically, is the US really the owner of the oil that sits here? Does it not belong to the owners of the land/mineral rights? - When you are a monopoly owner of oil, what will happen to the price of oil? How will that benefit Americans? - What happens when prices of one commodity rise? You don't believe there will be substitution? - How much income will Americans give up by not drilling oil? How will that compare against the benefits from keeping it all? - I disagree with you on every last drop. I have no problem with the US drilling it all, I just do not see it as strategic, but I'm flexible on this point. :) The crux of the argument - I think you agree with the fact that there are many arguments in favor of exporting, do you see why the comment of "the height of stupidity" sounds so ridiculous?

I agree with SJ. You put it way more eloquently than I can. Oil is not a strategic asset in the same way that some rare earth metal is, it's a valuable commodity that everybody on the planet needs regardless of nationality. If the rest of the world dries up, and US is the only one that has oil, it will not be a good situation even for the US. At that point, if you're going to sell oil to the rest of the world, how exactly will Americans benefit again? Don't Americans also benefit from low oil prices? Don't Americans also trade with other countries? Furthermore, tomorrow we may develop new sources of energy, say solar, what then?

So how do you guys get comfortable in investing in a firm that looks like it has a lot of nice real estate, but operationally it is struggling? I believe it is trading below the value of assets. I tend to stay away from deep value stuff, but am trying to learn just to enhance capabilities.

Think we can redo the poll with smaller buckets?

Why would you say its dumb? It's not obvious at all that it's a bad idea to drill your own oil, and the fact that Munger sees no opposing argument as worthwhile reeks of stupidity and arrogance. I'd say it's a one-off but he has a long habit of making dumb statements, "Civilized people don't own gold". Yeah ok Charlie.