CorpRaider

I think Buffett has a lot more horsepower, but Munger has more perspective/wisdom. From my chair, Munger definitely set his life up in a smarter way.

@james22 Sorry just saw this. My simplistic analysis was base rate: I'm getting a common equity like historical return via the expected yield (~6.5%) with decreased downside (I speculate that most likely worst downside scenario for SIFIs is common gets wiped and forced equity raises; I lose non-cumulative dividend for a period). So, if U.S. SIFIs are now mediocre over-capitalized utilities (like WTF they're going to make SIFIs hold more capital because SVB blew up?), that cash yield is probably a better return than the common (or at least "shorter duration"). Also, I have the ability to participate in big right tail outcome/upside surprises (e.g., it comes to pass that these SIFIs are new Canadian banks circa 1980-something) because of the conversion rights. I think I just basically described all of the standard features of any convertible preferred equity security with no real insight. haha.

I own some of one of those.

First it will replace all the $170K drivers. hah!

I'ma intellectually fade this outcome. I do think it will be big time in dense urban environments and maybe up the ridership of public transport, but in most of America...nah. I don't even really want my kids riding in my car. Think private rail cars. Will be nice to let it drive you home drunk or drive grandma around. Googl, comes with the best call option on the transportation OS (yet another duopoly).

Is it ok? I'm a full on Lamar bro over here. I did a little work on OUT a few years ago. I need to update that, if the price is right...and JCDecaux. Reckon they will distress buy CCO at some point. I'm going to buy some BOC if it gets down below trailing book again....but not for the billboard bidness (and way less than CMCSA and LAMR). What dilution you talking about, the carry? I don't really mind the ATM issuance above book since there is zero chance I would pay a big premium to book.

I just noticed he has a podcast with the same title. I requested the book from the library. Though I think I tried it before and didn't finish.

$LAMR

LUV

I hear AT&T has some that is available.

$K spinning snacking.

The only one I own is a little Markel for Grandmother and for the firstborn. I wonder how much of the recent travails are to be pinned upon Richard R. Whitt. He gone.

LOL

I suppose I should get a quote from progressive before renewing?

DIS

BRK.B, WFC

I pay for google one. Have often thought about getting my own wifi HD, but haven't yet. It seems a great business, my wife and I share photos automatically on google photos so we probably end up paying for double storage for 90% of the photos and videos we take...hah. I do like clicking a couple of times and picking up hard copies and that they automatically populate the screen savers on my screens in my home.

Let us know how you find it, if it's not too much trouble. I have never been a fan of the prior editions, but I did think Margin of Safety was pretty good. I suppose I would have to get the hard copy.

I think I'm going to flip out of some $WFC and move the capital to one or more of these, if I can get a decent price. [Not rocket science; going from ~1.2 TBV to ~.80x].

SLG marking 245 park UP from last August (~$1.8 Bil of assumed debt; of course it's now coming with their plan and paper: "sponsorship"). I think they're pretty much done with the planned $2 billion of funds to be raised/balance sheet changes this year with this billion, ~$500MM from completed 919 3rd ave refi, and ~$500MM they will get upon from TOC at One Madison (early 4Q last guide, pretty much a done deal).

ITIC, KHC for the boy (he likes Ketchup, I will let him know about his ownership interest).

LUV and SAVE

BRK.B

Recently bought some CLPR, SAVE, K, WFC-L for grandmother (thanks to poster who alerted me to existence).

Interesting. Thank you for sharing. There are some driven, accomplished people out there. My classmate was a retired partner in a plastic surgery practice from a famous a HNW community in L.A. and I think he started out with one of the white shoe wall street firms after graduation. I find it useful to keep those examples in mind.