CorpRaider

Didn't he just say they haven't written any Cat in 6 years? Honestly, I've kind of been waiting for UVE or peers to file and BRK to get back in the market before looking hard at you know P&C insurers in general. Wonder what Markel has going, with the acquisitions especially. Would sort of save me some brain damage/time if some of these supposed Berkalikes get exposed has having ignored WEB on the risk/reward in a major way.

Interesting stuff. They are due for it.

Thanks guys. Kinda never saw how they would get an acceptable price with Peltz already in there. I mean, remember snapple?

The deposits are the moat, is my (very limited) understanding of his analysis.

Interesting. Seems like values might remain cheap if population trends (collapse) and deflation turn out as many project. But maybe that is fully discounted in valuations.

Who do you think is buying the Bank of New York? Ted or Todd?

I sold GILD last time when they were "dumb and did a deal". That cost me a 5 bagger. I guess it was also beyond my depth. 8) Yeah, if they make a move after (another) biotech crater I might buy some just based on faith in management and respect for their ignoring investment bankers for years.

GLRE was cheap @~80% book value with a new CEO with a Lancashire pedigree. Yeah I want to like GILD just because they haven't been dumb and "done a deal." But it is beyond my depth. Retail and autos are in crapper. EAFE financials... Seems like quite a bit of dispersion in valuations in this market really.

Can I use this thread title as the title for my blog? :o

Yea, the PIMCO StocksPlus and StocksPlus Long Duration funds are two of the best performing "active" equity funds in the mutual fund universe since their inceptions. The standard StocksPlus fund goes back to the 80s so it's a LONG track record of implementing the strategy successfully without blowing up in the U.S. markets. There's definitely increased risk with the use of economic leverage and EM is far more volatile, but I'm relatively confident in their ability to manage it responsibly given their long-term success in the U.S. Plus, they're not swinging for the fences with the collateral - current duration is less than a year it's diversified across U.S. treasuries, mortgages, and corporate exposures. They simply have to beat the funding cost of the swaps used (LIBOR plus a spread) with the fixed income portfolio so it doesn't have to be anything TOO crazy to get the additional 2-3% a year. Interesting. Thanks for the response. Clarification, I had the retail fund not PEFIX. ;D

Congrats on the fund!

Interesting. Gundlach scared me about derivatives used in Pimco funds in one of his talks and I switched from PEFIX to FNDE. But it hasn't quite been hanging with the performance (neither has PXH over 5 years). But I guess that was to be expected with losing the "plus"/leverage.

Yeah and also most of the value tilted indexes and even the academic factor (I believe) have been sucking wind.

I always enjoy reading or watching his stuff.

Honestly, all things being equal, I would rather buy stuff from Target or Costco than amazon, since I can return it or go look at it. They both just need to keep working hard on getting their e-commerce stuff up to snuff.

Made a very brief visit recently. Seemed like a great city (and country). But I did grow up next to an older couple from Holland who used to keep me all the time as a kid, so I was likely biased.

I don't get that concern (about ETFs generally). I tried to buy the shit out of VIG when it was quote at (40%) or whatever during the flash crash. I would do the same if it happens again. I mean they can't they create and liquidate units to correct somewhat durable discounts to NAV. Mutual funds can blow up too if the underlying isn't liquid. See Third Avenue Interesting that Cambria was running this ETF. I didn't know that. Never liked this particular ETF. Especially the "great investors top holdings" portion.

I keep getting small(ish) and add on items in separate two day ups shipments from Amazon (I'm a prime member) and they are often double boxed. I then think, "this cannot be economically viable." I prefer to buy stuff from Costco online because I can take it back if I don't like/want it and the prices are usually better. Also amazon has some skeezy reseller who do stuff like list like K-cups (coffee) for $200+. Going into the warehouses is a nightmare, but I don't like shopping or concrete or crowds.

I still want a branch or two just in case if i have real money with you. I also want to be able to change curreny, get a safe deposit box and get stuff notarized.

Me too. Two guys I have worked with just moved out there. One is really freaking out about getting into the housing market too. Smells bubbly...but I guess it's a bargain if you're moving from San Fran or TriBeCa.

Apologies if this is discussed above, but just in case some of us are trying to figure out why the other bloke is so eager to sell, there are some (many?) who believe that the advent of fully autonomous EV's with their far fewer moving parts and far more complex electronics/computer systems and potential changes in ownership to an on-demand fleet of "mobility solutions" will wipe this sector from the face of the earth.

Guess he's mostly focused on treasuries, given the risk parity thing... https://www.bloomberg.com/news/articles/2017-07-07/dalio-calls-end-of-central-bank-era-time-to-head-to-party-exit

Didn't they also buy a "stick built" home builder in Colorado? Sort of intriguing to me, given some prior comments he's made about his belief that the housing market will perform this year. Bill Miller is really bullish on homebuilders too, if memory serves.

Is it big enough to assume it is Buffett? I haven't looked at STOR but there is some cheapish stuff (real cheap relatively speaking) in the area.

Enjoyed it.