Gamecock-YT

the better thing to look at is what they said before things blew up.

Is there any practical benefit to owning the 2024 copy, besides the novelty of having a physical book? Unlike a discontinued publication like Walker’s Manual, this handbook is still actively updated. Having a 2024 edition is like holding onto a Value Line investment survey from two years ago, most of the data is completely stale. Even in my limited experience looking at more recent handbooks, the companies currently surging are highly specific to today's market, like pachinko parlors or export businesses capitalizing on the weak yen.

For sure in the US, not sure how Canada does it vs. GTHL hockey. 16 years ago, but it still applies.....

My favorite was when the supporter groups got into a brawl: https://www.thecharlotteledger.com/p/charlotte-fc-fan-group-fight-sends The hot takes here are definitely something else. It is always interesting when a tournament starts and people immediately try to rewrite the rules rather than take the time to understand them. It is a very unique kind of confidence to want to alter a global game just because you don't want to learn it, but it certainly sums up a lot of things right now.

I'll know it is time to start selling my stocks when they start getting popular with the 'in' crowd.

The idea that the consensus here is safe because the average member is 'above-average' is the ultimate behavioral trap. Look at the annual COBF returns thread, it’s a perfect bell curve every single year. Half the forum underperforms the other half, no matter how smart everyone is. A crowded trade is still a crowded trade, even if the crowd has a high IQ. Of course, that bell curve only captures the people who actually choose to post. The year-end thread always seems to be a lot quieter.

"You can't take the same actions as everyone else and expect to outperform." Howard Marks is 100% right on that. To beat the market, your portfolio has to look different. David Swensen famously called this the "acceptance of uncomfortably idiosyncratic portfolios, which frequently appear downright imprudent in the eyes of conventional wisdom." Even on COBF, the herd mentality is real. Those are pretty bandwagon stocks to pick. It’s probably not a coincidence that the highest returns have been what only 1–2 people picked, not the ones where 5–6 people piled in. But six months is still too short to say if you are right or wrong. A half-year is a blink of an eye, and it is nowhere near enough time for a real structural value thesis to play out. At least you can hold yourself accountable after a year, although the biggest mouths on here seem to conveniently not hold themselves to account even then.

Everybody's thirsty till it's their turn to buy.

You'd think if he called every bubble in the past 40 years he wouldn't be having to do youtube videos and shill on the investor advisor circuit. "Oh, look it's easy! Just sell when the red line crosses the green line!" Totally ignoring that the signal had came up 2-3 times prior to that and kept going up.

Unless that is spelled out as a commitment in the presser, then I would assume, no.

I mean, everyone knows Berkshire, it’s not like they need to give some sweet deal to let them know they are open for business. Barring the Fed, they are a pseudo-lender of last resort as long as the terms are grossly in their favor. and sure, it’s an index position, but barring Apple, all the big players having rapidly expanded their capex. The Google of Buffett rueing not investing isn’t necessary the Google of today. but again, if you quantify the value of YouTube and Waymo, maybe you think your downside is protected? but end of the day I don’t think having Todd’s money burning a hole in your pocket is a good reason to deploy at this point into Google. Especially without getting a sweetener on top.

Don’t really understand the Google deal from either parties perspective. Is Google concerned about their credit rating that they’d rather raise equity than debt? If you are Berkshire do you want to get involved with committing capital at this point in the cycle when all the other AI players are going public? That screams late cycle. Sure, maybe on a sum of the parts if you think you can get a piece of YouTube, Waymo, etc. I could see Buffett doing the home builder deal, but I don’t see him ever doing the Google deal unless he’s getting a sweetener. I guess Able can always provide them a Goldman-like sweetheart deal when the AI trade blows up.

Prepaid Equity Forwards to fund share-based compensation plans or some other type of hedge

Maybe among domestic carriers, but almost any premium international airline puts the U.S. Big 3 to shame. It's amazing how much service quality improves when premium cabin assignments are based on performance rather than pure seniority. Plus, every airline is currently chasing that premium segment because they're the only ones spending in this K-shaped economy. Carriers are retrofitting their fleets to pack in high-margin premium products while gutting basic economy... right as $100+ WTI and surging inflation are taking off. Oops! People who just don't know any better. But honestly, none of the Big 3 are covering themselves in glory here. American is the only one left with a decent value proposition because they still offer fixed-partner award pricing for Oneworld flights but they offset that by valuing your spend over how much you fly the airline. But the days of 'loyalty' meaning anything in the airline industry are long, long gone. Hotels are pretty much the same thing.

tracking stock from the main Liberty Media parent that was eventually fully spun-off.

Maybe they can add to the nepotism going on at the company by getting an Agnelli to join the board!

Nearly 2 years since the last bubble post, SPY is up 45% on a total return basis:

Wally isn't there because of his last name.

If you’d taken a shot every time someone said 'operational excellence' yesterday, you would have ended up in the emergency room getting your stomach pumped. I’ll give Greg credit, the review before the Q&A was actually well done. It’s just a shame that the substance was immediately buried under a mountain of inane corporate buzzwords.

https://www.ft.com/content/ffb02bd6-fd48-4abc-b568-8353c495cd1e?syn-25a6b1a6=1

I learned "southerners" are known for being direct and blunt.

This is skewed US centric. To really see it, you need to be in Asia or Europe and what the reaction is going to be with those governments.

Same reason the Montreal Canadiens haven't made any noise in the sport of hockey since they last won the cup. Notice, they've started having success recently: who do they have at the top of the club now? A unilingual anglophone. Guess we can look forward to him getting shown the door at the first sign of controversy.

That opens up more problems than it solves. Suddenly, every strait in the world is going to have its hand in the till. Are we going to go back to trying to conquer Gibraltar like it is the 18th century while we are at it?