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Gamecock-YT

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Posts posted by Gamecock-YT

    f

    in General Discussion

    Posted

    Yeah I think the whole problem is that it's hard to get it off in a bankruptcy.  People do stupid things when they are young and pay for them later, but if you get in a hole that's too deep to dig out of, why not let them start over?

     

    moral hazard. Plus, what are the lenders going to take back from you? A piece of sheepskin? A big lesson my parents tried to instill in me is that there are consequences for your actions.

    f

    in General Discussion

    Posted

    "The average, middle class person thinks about education as an expenditure, not an investment.

     

    So, what has the lack of an education done to the typical American’s life? It’s removed job security, screwed your retirement, and maybe set you up to go bankrupt if you get sick. There are no immediate consequences, there are no immediate consequences for your children, but there is an immediate cost. So the average person thinks of education as an expenditure. If you get sick when you’re 70, you’re screwed. Or if you don’t save in your 401k, you may have to work till you’re dead. Or maybe your children won’t be as competitive in a global workforce 30 years. Don’t believe me? Only 15% of kids taking the SAT pay for an out of school test prep course like Kaplan. Over 50% of Americans don’t have beyond a high school degree.

     

    This fundamental investment vs. expenditure mindset changes everything. You think of education as fundamentally a quality problem. The average person thinks of education as fundamentally a cost problem."

     

    Carvel46:

     

    I hope our society STARTS to think of education as an investment.  At this point in time, a LOT of education is a VERY POOR INVESTMENT.  In fact, some education is a life ruining investment...Please see the thread I started "For Love or Money?".

     

    I can give this board a second example...A good friend's daughter started her studies this Fall at a well known state university.  The school is good, with solid reputation.  The girl is bright and hard working...but not bright enough to qualify for a scholarship.  She would have got one at the local city college, but not the State U., which is where she wanted to go....

     

    She is studying to be a nurse.  In 3 years when she graduates, will nursing be a good choice?  Probably...but who can say for sure?

     

    So here is the rub...the family & girl are borrowing at least 90% of the cost of her tuition, which will be at LEAST $100k by the time she is done.

     

    So this girl will graduate with $100k+ in debt.  That is assuming she succeeds in her studies (highly likely, but not a certainty), that she graduates in only 4 years, not 5.  What happens if she takes 6 months to find steady work after graduating?  What if she works part time and takes a YEAR to secure full time employment?

     

    The interest ALONE on her debts will probably be $500 a month, perhaps more...

     

    So is this a good investment?  From an economic standpoint, perhaps not...

     

    She will probably have a good time, make friends, perhaps even find a spouse, so it is hard to gauge simply on economics.  How do you put a price on the intangibles?

     

    So I would argue that she is taking a TREMENDOUS economic risk.  If there is any problem, any bump in the road, and she will be in very serious trouble.

     

    The cost of education is going to shrink the middle class tremendously.  Heck, it has already started...

     

    Absolutely. It baffles me to see friends/family go to private universities and get loaded with student loans when the state universities offer cheaper tuition. I guess people think there's a large difference in going to a 'name brand' school versus a public state university.

    City to live in

    in General Discussion

    Posted

    Charlotte. #2 banking city in the US (good luck trying to get an in with BoA or Wells tho) Good hospitals between CMC and Presbyterian.

     

    Throw in Nashville, Atlanta, and Raleigh/Research Triangle if you want a similar type city with good options in both fields.

     

     

    Harvard business school cases

    in General Discussion

    Posted

    They could, but probably not the most efficient way to learn about industries/companies. I had a class in school that was basically an entire semester of doing HBS cases, they were more for putting you in the position of the decision-maker and having to make decisions that have no right answer.

    Best way to read reports?

    in General Discussion

    Posted

    I prefer paper so I can make notes when I think of something worth writing down. It's easier to go back and focus on my comments on paper rather than using a notepad and reading off a screen.

     

    Otherwise if there isn't an option to order reports, I'll use a laptop with a big screen or a tablet as a last resort.

    "Value Line" Like Publications by Country

    in General Discussion

    Posted

    Hey all:

     

    I can heartily endorse Value Line.  I've used it for years and find it to be a great resource, especially if you want to look for historical data.

     

    I have suggestions for those of you wishing to save money.

     

    A). Value Line will run specials from time to time, you can really save a lot of money if you time it right.

    B). Most libraries have the basic edition

    C). I find my Iphone takes high enough resolution photos so that you no longer need a photo copier

     

    x2. Valueline is terrific, always a fun way to spend a weekend going through the latest edition. Sadly, my old university caught on that I was still using their database despite not being enrolled for 2 years and cut the cord.  :'(

     

    Guess I'll have to find a new way to access...my local library just uses Mergent products.

    Strategies for Patience

    in General Discussion

    Posted

    I was curious what strategies people used to be patient when they can't find anything that is undervalued (and low risk).

    In my opinion, lots of companies are fairly valued or overvalued right now.  The last time it was like this was 06/07 when there were a ton of overvalued companies.

     

    If you want to stay on the investment track, something I do during periods like the last few weeks, is I'll spend more time reading books that I need to catch up on

     

    This. If I'm not reading ideas, then I'm reading books.

    Moneyball - Michael Lewis

    in Books

    Posted

    I believe that Klarman called this a "future value investing classic."  Did anyone read Lewis' book on the left tackle position in the NFL?  Was that any good?

     

    the blind side?

     

    Much more of a Michael Oher story than the LT position story. (Funny enough Oher's high school coach feature in the book is now the head coach at Ole Miss) Basically talks about how Lawrence Taylor breaking Joe Theismann's leg lead the revolution of the LT positon. It's a good book, just don't go into expecting it to be Moneyball for Football.

    Moneyball - Michael Lewis

    in Books

    Posted

    I'm like you, JT. Huge sports fan and a lover of inefficiencies.

     

     

    x2 on war room. Speaking of DePodesta, Scott Pioli is another guy that came in with a high reputation that was pretty much a failure. Really does a great job on TV now...

     

     

    I've always wanted to read 2%, I really enjoy Keri's work with espn.com and grantland, but the reviews were always spotty. I guess people were expecting moneyball 2 and it failed to deliver? Also, I've always wanted to read  'Basketball on Paper' by Dean Oliver that goes into the 'four factors of basketball'.

     

     

    Another sports book I think is excellent is Swing your Sword by Mike Leach and Bruce Feldman. It's not really an advanced stat type of book but Mike Leach is a fascinating character and his path to being a D1 head coach is incredible.

     

     

    Rather than books, I've had lots of success with sports blog when trying to spot advance stat inefficiencies. footballoutsiders.com, profootballfocus.com, whoscored.com, fangraphs.com, kenpom.com, hoopsdata.com, hockeyprospectus.com, behindthenet.ca, nhlnumbers.com (Hockey is the last of the major sports to really commit to advanced data). Many of these places don't really spoon-feed you the info, you really have to do your own work in trying to understand the data but it's really worth it.

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