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wiessman

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  1. key success factor manage your expenses with a microscope manage your investments with a telescope it's really not all that more complicated than that
  2. FWIW I was paying $8k/yr for 4 cars with Nationwide - had been their customer for 20+ yrs I walked into my local GEICO office (nothing fancy, actually kind of a dump) and lowered my policy cost to $4k/yr Don't you know I signed the papers as quickly as i could. I have found their customer service to be superb.
  3. Broxburnboy One doesn't have to be a right winger to be libertarian - they are not necessarily the same. Ron Paul is the sanest guy out there. You are absolutely right on regarding his position statements.
  4. Dealraker Me too. I remember his analysis of Leucadia back then - he was one of the few that really tried to understand how they made it happen. Good guy who is bright and transparent. He seems to really care about his customers in an environment where he could easily run money in hedge fund world and dispense with the little guy.
  5. I think you got it right Buffeteer An empty trash can makes the most noise
  6. AXP - owned 10+ yrs; basis = $10 AES - owned 5+ yrs; basis = $2 DELL - owned 15+ yrs; basis = $1.25 BRK - owned 10+ yrs; basis = $30,000 C - owned 3+ yrs; basis = $20 JNJ new position KFT new position NLY new position KO new position PG new position T new position all new positions are primarily yield driven based on relatively low absolute PE's (Low P/B in case of NLY)
  7. Bronco - at what price do you like KFT? thanks
  8. Parsad, I just read your initial post right after reading Howard Mark's latest commentary. I don't know how to reconcile the two views which on surface appear to be diametrically opposed. It seems like every dimension of life these days involves a struggle between polar opposites. Are these merely descriptors of fat tails that will resolve themselves somewhere in the middle?
  9. The credit agencies in relation to the bond market are no different than appraisers are to the real estate market. Any serious participant in either market understands how spurious the assessments of value formulated by them are. Any business person who utilizes either in lieu of performing their own underwriting deserves what they get. Relying on a mere agent to assume responsibility for the performance of the underlying principal interest makes no sense in the world. Agency opinions were never intended to nor could they ever be considered insurance.
  10. FWIW I read in an old Sports Illustrated article that his actual out of pocket equity investment in the original transaction was $170k for a little over half interest. Presumably the balance was financed. In addition, because he died this year, any tax liability associated with his death has been eliminated. The IRR on the deal is thru the roof. That's why the limited partners have always been relatively quiet and you never hear about them. While they have cringed over the years over all the bombast, they knew they were making a ton of money. If you go to SI Vault you can read the old articles on the man. While not always pleasant to work for, his philanthropy (mostly anonymous) was significant as was his work ethic. A very interesting man who accomplished a lot in his life.
  11. I'll be interested to see what "good" friends the three amigos are when crunch time comes. LeBron is a quitter. Talented to be sure but he has quit on his teammates in the past when the bell was ringing. And a poor sport. I think the guy has a huge bulls-eye on his back. He's upped the ante on those rooting for him to fail. I don't see how that can enhance his brand. I just don't like the cut of the guy's jib. Rant over.
  12. I guess I'm an old timer. The whole thing reeked of personal aggrandizement. I harken back to the day when the team was what mattered. It was probably an illusion. Having said that, I don't have a problem with free agency (how could a self-described libertarian think otherwise?). The major problem I have with the NBA (and all professional sports teams for that matter) is the issue of public financing of stadia. What happens is that these "colosseums" (a reference to the Roman Empire) are financed on the public dole which then allows capital to be freed up to pay these enormous salaries to the players. And then joe six-pack can't even afford to go to the game. The financing capacity of the dole is then limited; no wonder our schools and hospitals are falling apart and under funded. The Reason TV (www.reason.com) series on Cleveland is a case in point. Moreover, I will never understand how the titans of Wall Street and public CEO's get pilloried for non-sensical pay packages in comparison. When the Martians invade us 1,000 years from now, they will observe and contemplate how such an advanced society could completely have it's priorities so screwed up.
  13. No kidding as to the reasoning. And the people who write this crap actually get paid?
  14. Thanks elltel - very helpful
  15. Thanks Tariq for the quick response Very helpful to us
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