CorpRaider

We all gonna' die (we really are). Feel better op?

Just returned from midwest. Had a lot of that boulevard wheat and others from the boulevard brewery. Good stuff. No wonder moortgardt bought them. I likes the duvel too.

. I gotta admit i love it when they put up the screen in screen cut away to the like old school diode/scoreboard of the dow when it is tanking.

You too had a hard time engaging the enemy after you lost Goose. There is something to be feared in fear itself, as the economy is in part a confidence thing. Large market collapses and currency crises can feed into the real economy. Will they? Well, we'll see. The odds are higher with a collapse rather than without one. . Lol and most of that was just flight school! reflexivity baby

Interesting video of Jennifer O'Connor during testimony on the IRS scandal. https://www.youtube.com/watch?v=Dyk1P-p56cE Chaffetz seems like a bit of an asshole. What does that make Issa?

I didn't buy sh*t today, FWIW. But I did put in some stupid orders that just didn't fill. VIG @ $50; MKL at 680; WFC-WT @ $15; MAT @ $20 for example.

Totally right, as he usually is. VIG is like megacap AAA companies, not junk (even UST) bonds, can't wait to see what happens to those under similar duress.

Had a limit order on VIG when it was down 18%, didn't make it in before the circuit breaker though >:( Ditto. Good point below about IBKR. Hmmm....

Yeah, I couldn't find it on GOOGL.

They did recently modify the buyback authorization so that they can buyback stock anytime it is below NAV. Obviously, lots of CEFs have been selling off relatively hard and are trading at pretty big discounts and most of the portfolio is comprised of other CEFs. There are some Brookfield ones with > 15% discounts.

I think he's just saying some bidnesses generate cash but have reinvestment opportunities to deploy said cash at attractive returns. Others dont and management can return it or invest it in other lines of bidness a-la brk. If most managers are not so great at valuing their own shares/bidness, it makes one positively queasy at the prospect of the empire builder, raining shareholders capital all up in the club with his advisors and their pitch books. Ceo will probably be treated like a big honking deal though. Good point though merkhet about why fcf isn't generally computed so as to penalize those wonderful bidnesses that actually have reinvestment opportunities. Of course as we all know the rubber meets the road in determining what is actually sustaining cap ex versus green fields

I caught that. Sort of rambling to me, but worth watching. Interesting that he said (paraphrasing): Value managers don't have nice offices. if you find a value manager with an opulent office you have to ask yourself where's the disconnect. Made me think of Bruce Berkowitz.

LOL. This must be the one. I saw it a couple of days ago. It had a picture of the Gecko as road kill left behind by a driverless car. http://www.bloomberg.com/news/articles/2015-07-30/can-the-insurance-industry-survive-driverless-cars- Could be pretty neat/crazy, especially when combined with the "sharing economy." Driverless vans/buses that run on time and don't strike could seemingly be a huge deal for public transportation.

Dhil is an interesting bidness, but too rich for my blood so far. chuck akre owns it and i think gayner has a little placeholder position.

Go nose around at Bogleheads . org and look at some index portfolios. I think there's a wiki entry for the tsp.

I wont be/wasnt able to listen. Please let us know if anything good was said. It was a pretty unsophisticated look. Wallison pretty much paraded the opinion that Fannie and Freddie have only paid interest and not the principal, remain dangerous and continue to grow, and could need another bailout. No mention of the sweep. Kudlow didn't challenge any of it. It focused more on the fact Fannie/Freddie made a ton of donations to Clintons and Obama in the past (yet they are barred from making any political contributions right now). If you expect anything from him other than worthless idealogical propaganda, you will likely always be disappointed.

Bought some ARCP. Been dicking around trying to get an $8 target price for several months; decided to go ahead.

Yeah, that's what the thread is about. One of the Yacktman guys (son or father, can't recall) has been quoted in the past year or so as valuing it conservatively at ~$13. Wally Weitz is long too, albeit just a little position. Someone is selling the stuff hand over fist too, obviously. haha. I really wish COTY and Bart Becht would make another run at this thing, as that guy could surely carve some profits out of all those sales and that distribution network, but it sounds he's got his hands full at the moment. Seems like the AVP mgmt team is sort of terrible; slow to transition to the social network selling in N.A. versus handing out freaking pamphlets. I've got a little placeholder position, earnings will probably be turrible with all the dollar strength and Dilma destroying Brasil and Putin making rubble out of the ruble. New CFO is from J. Crew and was reportedly friendly with TPG prior to their lbo of Jcrew and was retained by the TPG guys after they took over.

No. Just N-O.

WAY too frequently. Smartphone apps. When I was a kid, stock prices were in paper weekly and no cable (didn't subscribe to WSJ). I also just like watching the ticker, it would have been cool to have an old tickertape machine. I found this replica one, I think you can hook it up to a network and load it with paper and it will spit out prices, but was too expensive for such a novelty item. I preferred the CNBC ticker that used to show the trade sizes with the price quote. I also like the old 80's black price/information boards with the little red and green light bulbs.

Haha! In fairness, he's probably due to just romp all over the S&P 500 for like a five year period though, if he's still paying attention.

Approval by SEC and FCC of his new (glamour) headshots to be used in marketing materials. There were concerns they might prove distracting to Miami motorists and too alluring to retail investors who would be tempted to try and invest in his hedge funds.

Yeah, I've kicked the tires on the boulder complex once or twice. They just combined all the closed end funds including the one with the Wellington hedge funds in it, with the stated purpose of upping the liquidity and adding some yield to close the discount, at least that is my recollection. Looks like RiverNorth has ~25% and Bulldog has some, I know they control like 8% via SPE. But I think Horesj has control of ~ 35%, but those guys are not to be trifled with. You would have to hold it in tax advantaged account as you know there are huge built in gains. Dont want to be the schmuck.

Of course, you could just Bogle it and hold some intermediate term government bonds purely as "ballast" to reduce the volatility in your overall portfolio rather than trying to do a Jeffrey Gundlach impersonation. Or you could set your AA to 90-10 a la WEB's advice to Astrid's trustee.

Glad to hear they really have this unit humming. Notice anyone missing from the list in the below video? http://video.cnbc.com/gallery/?video=3000386243&play=1