Spekulatius

This is just a another way to monetize highly engaged fans. The ability to do this stuff makes sports teams more valuable. They can issue collectibles and probably NFT's. Virtually zero cost (except marketing) so margins are going to be close to 100%. It's great for sports team owner, if done right.

Looks like your parents thought you to leave no crumbs on the plate as a kid.

Yes, that's one of the neversells that needed to be sold at some point. I got sucked in GE as well by Immelt's GDP+ model of how GE will evolve and later before the bottom fell out in 2018. It's good example of how a great sounding narrative patches over an incapable leadership and issues with the business

Evergrande and not totally wrong either: https://twitter.com/anderpart/status/1459669964974182410?s=21

You kind of wonder what will happen to one of our most beloved conglomerates here at some point. Conglomerates have been shrinking in the US since the 1980’s. Think of ITT, Gulf & Western, Teledyne, LTV, United Technologies, or Tenneco. Those are all gone in their initial form. GE was the last survivor really. The Japanese Keiretsu are conglomerates of a different sort where one mother company owns stakes of other companies (often publicly traded) that function to serve the mother company in a sort of corporate feudalisms. the chaebols are the Korean flavor of it and I believe they work similar, but with strong family influence. The Keiretsu’s have been simplifying for quite some time (10-15 years) and slowly whittling down the number of subsidies, especially publicly traded ones. Toshiba, Hitachi and Panasonic are the most famous industrial ones and then there are the trading houses like Mitsui, Sumitomo, Mitsubishi, Sanwa, Itochu etc. All those have been simplifying but you won’t notice unless you are looking closely for a long time. They have been resisting more dramatically restructurings so the Toshiba news is pretty interesting.

Yes, you can, after 12 month as @sleepydragon noted. Interest will likely get adjusted downwards after 6 month. On the other hand, if inflation does stay elevated or takes off this would be a great medium term investment.

What about all the other cryptocurrency that get created. ETH is the most significant but there are several others that are used as workhorses or for speculation. I think all these cryptic currencies are basically like printing money and creating inflation. Think about this, creating a cryptocurrency does not create new wealth. If anything it reduces wealth by consuming resources (electricity) with little tangible benefit. Same as mining for gold actually.

Someone posted this on Twitter and it’s great idea for US persons/ citizens. Due to the inflation of inflation, the ISavings bonds now yield 7.12%. You can open an account with a treasury directly and put 10k in these each calendar year. Seems like a great way to put some money in for the medium term. If you pull your money, you lose the last 3 month of interest, but since you don’t get interest in money market or savings accounts anyways, that’s not a big deal. Looks like a no brainer to me - put in 10k this year and another 10k in January. https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds.htm

I also own a bit of BTI. I don't own Imperial Tobacco. I think BTI is the cheapest nicotine stock out there, SWMA is the growthiest. I believe SWMA compares favorably to PM both in terms of valuation as well as business quality.

Same here. SWMA looks very attractive relative to $PM (which is no slouch either).

GE Aviation doesn’t have the cash and Warren Buffett isn’t selling. I think GE’s crown jewel is GE Healthcare not GE aviation.

Unfortunately, Disney owns ESPN, which is not a trophy but a melting icecube/ cash cow. Can you elaborate the ESPN sport betting angle? I would guess that the sports leagues will license this out and capture most of the economics.

Bought some $BMBL. 20% down seems like an overreaction to decent looking earnings. Trading at half the P/S multiple of $MTCH. Maybe I do some research when my wife isn't looking.

It's interesting how this POS can move from ~$2 to $70. No balance sheet and income statement analysis required. Just front run retail.

Reduced $AZO - gone from my IRA's. Worked very well.

The bond market is saying no such thing. The bond market is saying there are not enough treasuries right now to meet the demand, so they get bid up which means that interest rates go down. It’s simple supply and demand. At least that is @wabuffo thesis and it makes sense to me as well.

SBC Leads to a 14% annual dilution rate. if you have a 38% grower with a 14% dilution rate, then the growth /share is ~18%. That’s not so hot at a 26x revenue EV. PLTR has this mystique about them that seems to appeal to retail investors. That has been able to bolster their valuation so far.

I think there will be a Wiley E Coyote moment coming for the bond market.

Bought a starter in $SWMA.ST / $SWMAY (Swedish Match) and just a few shares of $JXN at the open.

I think it is a cautionary tale of an investment manager marketing a certain style. Sure, if one sticks to a certain style one may do either extremely well or badly and it is easy to market if you do well. However, when you stick to a certain style box, it is unlikely you will do well for extended periods of time. Most likely, you just have been lucky if you performed well from the get go. What you want from an investor perspective is a manager who remains flexible which inevitably means that the style is going to drift over time. This is harder to market though. The ability to change is one reason why Buffett and others have been able to perform well for long periods of time. if he hadn't done this, he would have flamed out in the 70's and nobody would talk about him any more.

And Trump = Nixon. Abba brought out a new record. Now things make sense. Maybe even the presidential sweater comes back.

Currently binge watching Mr. Inbetween. Currently just started S3. Great show that seems to be progressively grittier. Thanks for brining this on my radar screen @DooDiligence

Financial Doomporn keeps selling.

Uggh: https://www.cnbc.com/2021/11/10/consumer-price-index-october.html ECONOMY Just my guess - if these numbers don't come down quickly, Powell is going to take the fall for it no matter the root cause. U.S. consumer prices jump 6.2% in October, the biggest inflation surge in more than 30 years

What do I know - I like the business and the management. Apparently some traders got into this and maybe like the new ticker symbol $KIND ? It's 10 AM and the stock is already halted 3 times: Valuation is a $3.6B EV for a ~$200M run rate revenue business growing 66% YoY.