Palantir

^While I'm only starting to look at CEQP. If it has a 30% yield, chances are that it won't be 30% for long.

Good catch!

Investing is a zero sum game. Its not a socially useful activity (with the exception of VC and IPOs). We are parasites. Its quite possible to make a lot of money investing without adding any value. I would say that if Buffet had never existed, the world would be more or less the same. Not true, there is an expected return > 0 for market participants, meaning it is not zero sum. Alpha is zero sum.

Not if that US or canadian producer has a ton of debt obligations he/she needs to meet! The hypothetical US or Canadian producer with a ton of debt has a finite amount of time in which they can produce at a loss, as does Russia, SA, etc. But, the US/CDN producer has a much greater finite amount of time. -Crip Not necessarily, the US/CDN producer has creditors who can declare it in violation of debt covenants anytime. Russia has gunz.

Not if that US or canadian producer has a ton of debt obligations he/she needs to meet!

I'm just more worried about diabetes/cancer/getting hit by a bus/car accident than dying in a terrorist attack...

Yeah... Mark Steyn, an article from an extremist with an obvious agenda.

France, Russia, and the US aren't risking their armies to battle for them, they're risking their armies for self-defense.

Nope, not worried at all.

I think you're forgetting that the company is also subtracting maintenance capex, and even opex which is an offset to depreciation. Now what could be a legit concern is understating maintenance capex... For earnings, you have to keep in mind that different cos recognize revenues at different times, so the underlying economic performance may not be reflected in I/S. Eg. for service firms, you want to look at cash flow. TL:DR : each industry has a unique way of interpreting financials. For MLPs like KMI, you should focus on EBITDA, DCF, and Debt/EBITDA. What is happening with them is that their cost of capital is rising to 9%, and their leverage (D/EBITDA) is elevated, which hurts their ability to finance projects, damaging growth expectations.

Ajit Jain also came from there...if you have the opportunity to work there, do it. I bet some of the criticism might be envy.

So....when is this crash happening? Am I invited?

I wonder what Kraven would think of this request.

I highly recommend their online modeling course.

We've been seeing these signs of "market top" for the past 3 years....going to come eventually I guess...

TSLA!

Forum also seems a bit slow in loading pages, don't know if that is the case for everybody though.

Shouldn't competition be concerned about Paypal as well? :) I am not worried about Square or Google, I don't think they are that impressive. As for moat, I don't know yet, I'm still working on the name, but it looks promising.

Growth, good margins, decent valuation.

PYPL

So what are you telling them? :D

...Unless he wants to apply for a job that requires "Top tier MBA, 5 years experience in IB/PE/HF".

MBA is the best way of getting into investment management especially if you're not in the industry. Of course, I am only referring to top tier MBAs.....:) Just go online, and look at the profiles of the people who are working in the jobs you want to work in. What do they look like?

BNSF has a book value to Berkshire of $34B. Using a simplistic analysis of the decrease in market value of BNSF (simply saying the "right" multiple has gone from 20X to 14X), then BNSF went from being worth $90B to $56B, from 2.3X GAAP book to 1.6X GAAP Book. It would be incorrect to say NSC is down 30%, Berkshire has 44% equity/ assets, ergo Berkshire's interest in BNSF is worth 60% less. BNSF is simply "worth" a less giant premium to book than before. That premium moves up in down in an unlevered fashion because Berkshire's equity stakes in BNSF and BE are not themselves levered like that. Interesting, thanks.

Why would you want to be long oil companies when oil is so low? The time to be long oilcos is when oil is high.....