CorpRaider

Yeah, I prefer Kahneman's system type characterization/nomenclature and agree this is probably just a specialized artifact of what I prefer to think of as the overconfidence and confirmation biases.

Congrats again! We will miss ya'. Don't be a stranger, if you can help it. I saw something today that said CRE vacancies are projected to be highest since 1991. That was the best time to buy REITs since they became a thing as far as I know. I'm sure you will soon be in a position that you can pretty much talk about whatever you want with whomever you want.

Has anyone ever asked them about fiber to the premises as being a potential growth area in the future for BHE (and utes as a whole). It seems like this covid thing has really highlighted, for me at least, that high speed internet is basically an essential utility. Seems like as they build out "smart" grids with all the way fiber to the meters they could just tack on fiber service to the home for almost zero marginal cost. Seems like utes already have the rights of way and cable management, equipment, workforce expertise, etc to dominate this segment. Though I know I've seen some SE regional utilities who built this stuff out some in the internet bubble and then sold it off/took a loss, but maybe they were just very early.

WFC.

His actions jibe with Charlie's words.

Lost weight. Think it was all muscle. Not great.

They put all their AGMs on the web. I've watched everything they've ever put up. It gets highly repetitive after a few years, but I'm a bit of an anglophile so I am fine watching for the accents and backgrounds, etc... Seems like another good quality-compounder investor, but that style has had an epic run. I found the flip flop on colgate to be abrupt and the explanation, which I recall was basically a critique of management's plan (I thought we were investing in such great businesses, particularly colgate with the oft mentioned tailwind of emerging markets, that management didn't matter that much). He did savage Michael Mouboussin once tho by referencing Mouboussin's pounding the table for Nortel Networks (I think) back right before it imploded (when Moubosson was an analyst, prior to becoming a guru). Smith is pretty entertaining, seems like the Julian fellow who lives in Connecticut is a big portion of the brains of the operation.

Why can't he just issue negative yielding euro and yen bonds and produce free float and use that to lever holdco investments into the regulatory capture businesses (energy and transportation) with guaranteed double digit returns (with maybe a little more regulatory-capture, bank industry exposure via stocks)? If memory serves, UTES did grandly during the great depression (after initially cleaning up the holding company excesses from prior period). People are kicking dirt on him and AAPL from what last year was probably one of the greatest investments of his career.

Not a ton of room for BRK to back up the truck on banks. They are already near the top of shareholder roles for like 8 big banks. Munger couldn't really get more concentrated in banks in DJCO without hiring some tellers. I don't think there's a big rush. He did the BAC deal in 2011. This thing drags out, I could see him bagging Disney as a distressed seller or something crazy. Also agree with you guys that Munger really is probably only speaking for himself.

He is such a unit. I agree with him on the effects. Zero chance I take my family to a ballgame or on a plane until there is a proven, effective vaccine (or we have tested positive with antibodies and the medical community has established the likelihood of reactivation/infection).

He's among the investors covered on dataroma. Also discussed/interviewed in Tobias Carlisle's book Concentrated Investing. He mentions Valiant (among Goog and some other stunners) when reeling off some great business, but he's not the only successful investor to get snowed by that one.

I don't think there will be a "reopening" despite what investors on the spectrum or psychopathic politicians say until there's a good, fast antibody test at scale and/or a vaccine. Like Gates said, it's totally unrealistic to say "go shop, ignore that pile of bodies in the corner."

According to his brother it is him. I am pretty sure it is him. He's on the spectrum, so maybe not perfectly equipped to evaluate the response of the public (he is also reportedly very long GME and Jos A Bank, so highly conflicted), I am looking to Gates for much better (while still exceptionally rational) analysis on the topic.

We are down ~6% over the last year. He sold airlines and issued debt in Yen and Euros.

LOL. Harsh, but fair.

SLG

I like BRK better.

Trailer parks are great (unless covid-19 rages through sun communities ELS sunbelt retirement parks and takes out like 15% of the demand) and seem priced accordingly.

I wonder if there will be a lot of shadow-supply/AirBNBs/VRBOs coming on the market to drive down rents. I keep seeing stories about people who are trying desperately to move their airbnbs to longer term rentals, some pretty troubling stories about people who are engaging in "rent arbitrage" sounds like of like wework, but worse; of course that's all just narrative/anecdote.

Yeah I was just looking at those UTEs for grandma. WTF is up with those yields. Seems like D is going to maybe issue some stock "for liquidity" but I didn't see anything on DUK. If memory serves, you crushed it if you bought utilities during the great depression.

WFC, USB, BRKB, SLG

I keep finding like weird errors in Rocket...like a lot of them. Making me really uncertain. I just wish Koyfin had ownership and insider transactions, transcripts and sec source docs would be gravy. But I think it is super overall.

I saw some SEC filings in the NEWS function on Koyfin (I just started playing around with it), but it seems like its just a link to the edgar DB. Do you know if it has like aggregated ownership share data? [like rocket, guru focus, or nasdaq] I like to see someone with capital at stake who has enough stroke to keep any eye on the hired helper managers. What's the deal/costs with TIKR? Says it has a waitlist.

One factor in favor of using the employer-sponsored hsa might be that contributions withheld from your paycheck are exempt from employment tax withholding. I think many people fund their employer HSA accounts and then roll over/transfer the balances at regular intervals if the fees are offensive.

I hope you are well. LAforeverHall (formerly known as ScottHall) mentioned it on twitter and it’s interesting. The Billboards business certainly will be affected in the near term, but mid/long term I can see this bouncing back quickly. I am feeling a great deal better thanks. Today was the first real day with nearly normal feeling chest movement. Opened all the windows etc the last couple of days for some fresh air as it has been warm here. Yeah, it seems like a pretty good business long term. Just nibbling. Seems pretty levered, but in better shape than OUT and CCO. I told myself a while ago I would buy at ~ 8x EBITDA. I wonder if they haven't all screwed the business up and made it more cyclical (running right into a period when no one will be outdoor to see their ads) by putting up all these electronic screens. Apparently, yes those digital ads are more responsive, but the contracts are also a lot shorter (as you might expect versus a crew gluing something up there). Bought some BOMN below book earlier this week too. Of course that is their main business and I think they much better b/s. Might be good time for them to do some buying.