CorpRaider

If good is better than market average returns then historically (empirically) no. One could check out Fama and French or pretty much any of the other research on mechanical value portfolios or read pretty much anything else about the value anomaly. 200 slide presentations built on excruciating research wouldn't help you much in a quest to stay in bidness after getting smoked by the FANG/MoMo the last 3 years.

Very interesting. I've been looking to get long but it seems to never get in the zip code of cheap before JAB takes another slug. I've been sort of fascinated with the Reiman family and Bart Becht since they took me out of the coffee spin from Sara Lee. I like to listen to the COTY quarterly calls as well.

Anyone perked up by this move in the GBP? Saw something that said as weak against the dollar as it was in like 1985. I guess I will just buy more EAFE or maybe some EWU.

LOL. Awesome. I wonder if he gave her an in-kind distribution of SHLD common. So he didn't go the Ackman route and blame his poor performance on having legions of copycats. Hey one thing Ackman didn't mention (I can't believe he failed to note) is THAT is a problem he clearly solved for a while and won't have to deal with next year! haha.

At a minimum just run a small retail footprint with appliance, home services, auto and maybe tools. Basically, only keep the stuff men would buy. Did anyone rip him a new on for sending them a big tax bill in connection with a shitty AR number?

I totally tried to respond with the GIF with peter griffin from family guy trying to dive into coins like scrooge mcduck, but I failed miserably. I am getting old. http://i.imgur.com/ztZ0yAZ.gif Thank you sir. Could you drive me to my doctor's appointment?

New Cherokee makes me throw up in my mouth a little every time i see it, but that's probably a good thing from a value investor perspective.

I've never followed Burry much. Some interesting names on there. Someone should ask the dataroma guy to add him. I think I have annoyed him enough with recommendations.

C'mon man, all the buffetites know that Dexter was the biggest mistake (all together now)...because....he....paid...in....stock.

You guys must have more equity and/or better credit than me, I'm getting a 3.8% quote from the two places I checked.

I'ma check into refinancing my mortgage. hehe.

What happens if you try or are forced by redemptions to sell SHLD?

So contingent convertibles have no conversion feature? Makes sense.

Yeah I'm making like a chinese SOE and buying foreign assets before my currency craters. But it isn't without pain. I don't trust most EM for direct investment. Brazil is the country of the future....and it always will be. ;D I like a few years of capitalism and some cultural traditions around property rights; lack of tolerance for rampant corruption, at least outside of FIFA.

EAFE is like in the 25% percentile cheap....just saying.

I completely agree with Buffett. However, it's "America's best days", not necessarily "investor's-who-just-bought-whatever-US-company-stock-and-expects-that-GDP-growth-will-make-his-pick-work best days". If I had to pick whether to be born in US right now (knowing nothing about the future) or any time in the past (knowing in general what will happen up to 2015, but not particulars that would make me rich), I'd pick to be born now. Hell yeah bro, Elon's going to colonize Mars and the Google guys are going to make us live forever. Productivity whut?

Meh, every time I've heard WEB talk about it he says that even at 3% you're doubling GDP in a generation. That ain't bad when you're talking about already being rich. He talked with whats his face from Cerberus at the national economic club about this stuff like last year, I think. Says easy to close the gap to 2% of GSP deficit which is sustainable with simpson-boles or many other plans.

Yeah I read his stuff. If memory serves, this was actually about Hussman's use of the data set and his strong consclusions derived therefrom (Shiller never does this) this blogger later went on last year with a much more detailed and focused set of posts about the CAPE and potential/alleged problems with it and attempted to revamp the CAPE only to conclude it worked as is (as well as anything does). I do not make dramatic changes based on overall valuation metrics (don't want to sit on the sidelines for the entire decade of the 90's); maybe I should ignore them. In the end, however, I think returns are going to be a function of the earning/potential cash flows generated by the investment and changes in valuation thereof (just like they are in treasuries, real estate, gentlemen's clubs, ok maybe not gentlemen's clubs, etc...). Also, can I just say Nobel > Wordpress? haha. Just kidding, I love this guy's blog, but Shiller's hair....

They posture was "get very bullish", not should i go to cash if CAPE exceeds median or any of these other strawmen. Also, did someone above just basically say we are at a "permanently higher plateau" for equity valuations? I've heard that before, somewhere... :D Selection of 5 or 7 years for earnings smoothing period yields similar results from what I've read. Didn't Graham use a five year period?

Nah. I used to work there - that's just how things are and the media is likely blowing it way out of proportion. There were regular internal spats, even high up, when I was there and they were generally resolved reasonably. Interesting. Thanks for sharing. So did you make it to "the other side"?

I dunno but maybe around the 75th percentile of the most expensive in history (let's say 20 for the CAPE) might at least make me start to pay attention.

Yeah i need to buy some common so I can at least vote no on all the management proposals. It won't accomplish anything, but it will make me feel better. ;D

From what I've read Ray is busy with an internal pissing contest/voting campaign.

http://www.bloomberg.com/news/articles/2016-02-08/how-europe-s-banks-got-hit-by-a-perfect-storm-in-five-charts und http://www.bloomberg.com/news/articles/2016-02-08/deutsche-bank-says-it-has-at1-payment-capacity-of-1-1-billion

MDLZ hit an alert I set at $36 back a year or two ago, but I pussed out.