wachtwoord

@Frommi DAX as in Deutscher Aktienindex? ::) So weird that would have the effect you describe. Are you sure that's not just coincidence? I mean 100 years could be to short a timeframe?

This sounds like an improvement already (and more likely to be politically attainable). Of course I always prefer the government withdrawing completely.

Can we have that now pretty please? These days it seems every retard and his brother attend university and the levels of he university have dropped at a frightening degree. On top of that many universities are highly politically biased and the "challenge everything" attitude has made a 180. This is all caused by a too large student population. On the one hand people with too low a base intelligence (no critical thinking) and on the other the universities can't handle the larger student population, degrading the level of the studies. A secondary benefit would be that the drop outs would go into trade schools. And that's exactly of which supply is lacking now. So students would be happier, learning a (useful!) skill at their level of thinking with almost guaranteed job security and society would benefit greatly too. All for the small price of governments minding their own damn business (w/e that is) and letting the free market do its thing.

This. I love how socialists like to frame things to be free market failure when it clearly isn't (free market can't fail). In Europe they love to privatize companies but then impose heavy regulation and arbitrarily subsidize parts and when it doesn't work blame the free market. No, the problem is you created something worse than a nationalized "company". Not much free about a regulated market is there? I wonder how much of this is conscious manipulation and what portion is caused by utter retardation (e.g. not understanding a simple word such as "free")

Sorry, it's difficult to convey some stuff on the internet. Another way to say what I mean is that there are only a few people who can show both show a high level of confidence AND a high level of critical self-doubt. It's hard because one tries to achieve the balance between two contradictory forces. When we take decisions, we have incomplete information and may have to act decisively (like the subject of this thread or when we make an investment) while at the same time remain comfortable that we may be wrong. I think Seth Klarman has said something like: "You have to balance arrogance and humility". To understand this though perhaps makes it easier to recognize mistakes and to learn from them. An alternative is to remain angry. Thanks for clarifying. I fully agree.

Well, or it could be that your hypothesis is bogus and related to your biases rather than evidence. Like, you're implying that the people who grow in tough, non-western countries are likely to be more successful because of those challenges. Yet, western countries composed of people with this soft western upbringing have brought about a situation where the west is the dominant economic force (and probably cultural force) on earth. So, to me, it seems hasty to imply that the western way is horrible, and the methods of less successful countries are preferable. Why do you think the problem lies mainly with the latest generations? (1950s onwards, the later the worse it got). It seems like societal hubris. Like a late stage Roman empire. Even though I came in contact with many more non-western people than the average person that lives in the west, of course my sample size can never be large enough to draw any sort of significant conclusion and everything is anecdotal in nature. I also didn't say they are more successful ;)

Am I understanding correctly that you believe in general more intelligent people are weaker and less intelligent people are stronger? If so, I think it has more to do with lack of adversity and competition in the western world. It indeed starts with the education system which is weak as hell (grading "on a scale" is terrible). In non-western countries it's normal to show who is best of the class, second best etc. In Europe they try to hide it ... I guess I'm "lucky" in the sense that I didn't need to grow up in adverse situations (safe middle class stable family) while most people do need this?

Is it that hard really? I basically have always done this, even as a child. How can you expect to do better for yourself if you don't analyze what you (you, not someone else) do wrong in order to avoid it in the future? Why do you think you deserve anything whatsoever? I think people (and millenials particular, which apparently I officially just fall into as well) are just too damn soft on themselves. I've always been far more strict on myself than anyone else and alled myself an idiot on many occasions. I don't think that's hard. That's not being a pussy. Btw: As far as it wasn't clear, this wasn't meant at you John. You're clearly open to questioning your own failing and looking to learn from them :)

I'm guessing he didn't make a *financial* decision. If you want to change the world, journalism, NYU, and NYC are what you do to make more likely your voice is heard. Debt doesn't weigh much against that. ... it is no longer worth being a journalist? Worth, of course, is a loaded word. It can refer to money, viewing journalism as a lucrative way to make a living. Or it can have a vocational meaning, implying that journalism is intrinsically a public service. https://www.theguardian.com/media/2015/feb/15/would-be-journalists-change-world-alex-thomson-felix-salmon Change the world? LOL! Being part of the mainstream media (and the vast majority of the journalists are) means being part of the governments propaganda machine (and thus doing evil, not good). Read what they write and know it's true. No mainstream media is reporting on the latest shananigans with Assange and any real independant media outlet would as it's their neck on the line next (yes Assange is a journalist). There is just hardly any free media left as the last decades have shown a huge crackdown on free speech (both in Europe and the US, the rest of the world never really had it as far as I can tell). The only exceptions are wikileaks and alt right media and those aren't jobs anyone chooses that wants to make a decent living. On topic: he made his bed now he must lay in it. As soon as he stops externalizing blame he might turn into anything else than a screw-up. I doubt he ever will.

I forgot about https://www.philosophicaleconomics.com in my previous post. It's not necessarily a value blog but I have learned quite a few things reading it. The author has a scientific mind :) Thanks again Liberty as I found out about it due to this post: http://www.cornerofberkshireandfairfax.ca/forum/general-discussion/'a-value-opportunity-in-preferred-stocks'

JD and FFH.TO

I read the two you mentioned and Otcadventures, nonamestocks and hammerinvesting.

I just want to add that Dan added a comment on his post linking to this thread and ad verbatim copied the critical arguments of the OP for everyone to see. I think Dan's blog is fair and ethical. Of course I don't always agree with his purchases but he brought some gems under my attention with this blog and people should decide for themselves which are gems and which are not.

Actually cash is much, much more anonymous ;)

This seems naive. I guess it's case by case but do you think that a soldier who joined up to fight the nazi's was in the wrong? It seems they actually saved a lot of lives by putting an end to that madness. Yes I do. The second world war was joined by the US for political reasons, nor moralistic ones (just look at the timing and the economic benefit to the US afterwards). Both the Americans (Tokyo, Hiroshima, Nagasaki) and the British (napalm on Dresden) committed some of the most horrendous war crimes in history. Fighting for a nation state is wrong. Don't associate yourself with warlords. Anyway sorry for derailing the thread. I was disappointed reading my fellow libertarian (rkababang) write he does not blame murderers for being murderers and kept reacting from there. I got pulled in because I'm quite passionate about this topic. In retrospect I should have send a PM (I was reminded to this by re-reading the topic title for this). My apologies to doughishere (OP).

@rkbabang so you want to be part of an evil organization and possibly kill in their name because it's convenient for you? I'm sorry you are responsible for your own actions and you are a murderer if you kill as a soldier and in conspiracy with them if you join. "Befehl ist befehl" is not an excuse. By the same argument you could say it's not your fault if you steal, kill and plunder as a private citizen since it makes your life easier right? I even respect mercenaries more than soldiers. At least they don't have a layer of fake-righteousness on top of their evil morals.

"He's the one who gives his body as the weapon for the war and without him all this killing can't go on." - Donovan - Universal soldier How’s that analysis work when there is a draft? Well the draft complicates matters severely ... Draft is one of the biggest crimes against freedom. Do you know the song "and the band played Waltzing Matilda" by Eric Bogle? One of the saddest songs ever written imo. I still say try to desert when drafted if at all possible but I realize that's very difficult to do while keeping yourself safe. Nation states truly are savages in such situations.

"He's the one who gives his body as the weapon for the war and without him all this killing can't go on." - Donovan - Universal soldier

I agree with the above. At the same time, stories shape society (whether true or not), that's what the whole "fake news" topic is about. The thing with that is though, that people don't mind when it's news (or propaganda, depending on ones perspective) that fits their worldview. If you don't agree with it, it's fake news/propaganda if you do agree it's informative. We should all try to judge each potential fact we happen upon individually and assign it a probability rather than a binary true/false. The vast majority of the population is however unwilling or unable to do this: propaganda works.

A cheap, naive and childish response to Twocitiescapital's well thought out and logically consistent writing. He does not deserve the thinly veiled ad hominem. Thanks Twocitiescapital, I wish the western news channels were able to report with anything close to this level of impartiality.

More ALS.TO and I initiated a position in ELF.TO

Sounds reasonable. I generally prefer to not cap my upside (by buying prefs) and take the extra risk with the commons. I control my risk by keeping the position small (since I agree with you management is simply terrible). Of course at some price point the capped return with the prefs is preferable over the (potentially uncapped) returns of the common. I find it hard to determine what that price point is (even roughly).

Commons. Not sure whether that's the best risk-reward investment but I find it easier to get a sense for value with common stocks versus preferreds. How do you compare the two asset classes to determine best value in this case? Or did you buy both to not have to?

I opened a small position in this as well today. The margin of safety is so huge that I reckon the monkeys at the helm won't mess up enough to make this a bad investment. Time will tell I guess ...

Opinion: LOL and I am certainly not bullish on crypto currencies. I wouldn’t even know how to argue why governements starting their own crypto currency/s would be bearish of bitcoin and al, in fact if anything, I would consider it being bullish. Government crypto is pointless as the value comes from the distribution of trust rather than the centralization of it.