Gamecock-YT

You mean the same Josh Hawley that objected to the election certification? That's one of the best senators?

Would be a fun experiment to see where their donor money is coming from and what positions are making up their gains.

Politicans voting against their own self interest? I'll believe it when I see it. If it is like anything else they do, they'll have massive loopholes they'll exploit.

19.9%, which kind of disappointing considering I was up a good bit on the index all the way until the end of August. The sell-off in Liberty Broadband, which is my 2nd largest position contributed to the decline along with the increase in the S&P in October which didn't trickle down to the portfolio. Made a large add-on investment to Altria ($MO) at the same price of my investment last year which is now my largest position. The quarterly dividend is great but been struggling to find places to put it to work. Guess there's worse problems lol! 2nd half of the year bought half a position in Liberty SiriusXM ($LSXMA). Opportunistically adding to the position on any declines. Sold out of a bag holder position in $AMR for a marginal gain. Big winners: GENGF, MO, ATUSF Big loser: AWDR 2021: 19.9% 2020: 12.0% 2019: 33.0% 2018: -15.5% 2017: 35.0% 2016: 17.3% Portfolio should be in good shape if we get a run on inflation, other than that not doing much else now except buying Ibonds. Thanks everyone for another year on the board, I continue to keep learning more every day!

Nothing table pounding like I've felt in the past. I think reopening assets (IE. travel) will do well, especially if have exposure to Asia. China is going to reopen at some point...(maybe once Omicron runs its course?) and I think you are likely to see an explosion in travel like we've seen as the West gradually reopened. I'm in Thailand currently and they are absolutely hurting not having tourists here, case and point: I'm literally staying at a name-brand 5 star hotel for $35 a night - taxes included. Chinese make up their biggest tourist demographic, it will be huge once borders start reopening. Not sure what the ideal investment in the space would be, ideally something with low leverage so you don't blow up before the market turns. Just looking out my window I see 9 construction cranes, so development is continuing. In similar vein, think oil will do well as another byproduct of the reopening play described above. I've got some various small exposures that I'm basically treating like lottery tickets at this point. If you are looking to eclipse the 10% hurdle mentioned in the original post, I think given the NAV discount and the start of buybacks that Liberty SiriusXM ($LSXMK) is a pretty safe place to park your capital as the discount starts to narrow. The thread on the board is really good with getting up the speed in the space. Additionally, with Altria's ($MO) dividend yield presently at 7.50% and additional buybacks being announced after selling their wine business it seems like 10% is possible. They've got pricing power with inflation and potential for an additional catalyst as the lockup expired late last year in their $BUD stake. They said they are keeping the stake for now as they wait for covid to abate into a more 'normal' market.

probably for ESG investor/funds purposes

no reason to buy on 1/1, better to buy later in the month...you'll still accrue the same amount of interest and get whatever nominal amount the cash is currently sitting in too.

In my experience, more likely to find these in private investments than publics. Maybe put a news alert for special dividends?

You can get around the $10k limit by purchasing more with EINs or in Trusts. Purchased them last month to lock in the 5.33% (3.54% for six months, and then the 7.12% for six months). Will get $20k more in January. Even if you leave it in for exactly a year and take the penalty you're still beating the hell out of a savings/MM account.

finished this up today, story is really good (granted I was a related party to Hamlet Holdings, so knew a little bit of what was going on) but it's really tough to keep up with who all the various characters are, reminded me of barbarians at the gate for this era.

finished this up yesterday, good book.

Guess Davos came late this year

the long sigh at the 16 second mark....lol!

it was a great game! glad yall won.

not sure if you were the person that tweeted that or just parroting the tweet, but to me it comes down to happiness. If you are happy spending $20k/$30k/$XXk a year and the lifestyle that entails then why not? Sure, there's those bloggers that go to preach the FIRE gospel as some type of side hustle, but there's also those that are bitter that they just can't pull the trigger and escape the rat race. To each his own.

Well the question is are these spot prices sustainable? Will the Chinese bend on Aussie coal? Will the Mongolia/China border get back to normal? If either of those occur, spot prices are going down. I have a tiny bagholder position in $AMR so I've been keeping an eye on things but looking to get out while the getting is good.

lobbyist will just come up with a new mousetrap. millionaire senators/congressmen are incentivized not to put something into law that's going to be potentially punitive to themselves. they'll just close the current loopholes, make a big show while patting themselves on the back, and then call up their accountants/bankers to switch to the new loopholes.

Ibonds 10k this year and 10k next year. Lock up is 12 months. Current yield is 3.54%, with a penalty of 3 months interest if you redeem before 5 years. Even if you just hold for exactly 12 months and 1 day you are getting a yield of 2.65% after the penalty which is about as good as it gets on something considered risk free.

when QE5 starts

I think a lot of it comes down to how you function as an investor...are you able to trade in and out of positions or are you someone that wants to see the thesis play out. Myself, I struggle to sell and tend to go down with the ship so I need to focus on staying away from cyclical plays. But when I see something that passes my standards, I need to make a big swing. I kind of like what altarock does with large, infrequent bets and just letting the position sit. Right now I try and focus on having around 6-7 positions with around an equal weighting so somewhere between 15-20% each. I used to play around with the 3% punts but I've found my standards drop and I'm not as focused as when I'm going to put a big position on. Lots of different ways to skin a cat, ultimately you have to understand yourself and find what works.

I would just think of it as an asset heavy company vs asset light company. I think you are getting too deep in the weeds looking for specifics.

Haslams have to get some money to pay off some more failed university of tennessee coaches.

I would just make the distinction that those equity pickups would impact the carry value, not the cost. Might just be a matter of semantics. Any returns of capital would be lowering your cost basis. You are correct that the company making the distribution makes the distinction between return of/return on. Most of the time when I've had special dividend/distributions it is usually treated as a return of capital barring the cost basis being $0, in which case it is treated as a capital gain. Might be a good question for their IR team to answer, they should have the answer handy.

It's been a little while since I was dealing with this on a daily basis so I'm a little rusty but I think it would still lower the carry value.

Taxable event vs. nontaxable event