frommi

I enjoy the process of going against the crowd and outsmart other people. But there are times when i feel like an idiot. But than there are these days where the index is down 2% and your portfolio is up 5% and you run around like you are the king of pop. Would really miss these days

Have you checked LKQ, it trades at the same multiples, but with higher FCF Yield? To me it looks safer and with similar upside, whats your take on that? Do i miss something?

In the endgame i think we will get thousands of robots that replace humans in every task possible. The true winners are the companies that sell stuff to consumers that use a lot of labour right now that can be replaced. All the robot stuff and AI software will get commoditized. Heck were is even the moat in something like software when you can replace it in an eyeblink by some AI generated code?

Yeah but that is what most companies were buying these pricy chips for. Training is a one time thing, especially if at some point you have compressed all available quality data (books,papers, etc.) into the system. What should additional training lead to? If the interference side runs on a smartphone (which is now possible in the future) than all these data center investments were for the bin. And even if you don't trust the deepseek model, i am very sure that OpenAI and Meta will produce a model in relative short timeframe that will be as efficient as the deepseek model, because it is open source and everything of it can be copied.

From a technical point i would argue that BTI has just broken out and can run a lot higher now, especially if the tech slump continues. (look at what happened 2000->2008). 5% earnings growth over the longer term is still respectable when your stock trades at a PE of 8.5. I only sold out of MO because that looks like the weakest and least diversified/future proof of all tobacco stocks, but still have >30% of my portfolio in BTI,PM,IMB and STG.

The thing is that its entirely possible that some day a black swan might hit and that AI:0 number goes to AI:>6 billion, because the AI deemed humans as their enemy or largest roadblock.

sold some TAP to buy more STO:EVO.

I get that it might seem unusual at first to ask guests for a financial contribution, but maybe the couple simply didn’t have another way to make the celebration they dreamed of possible. It’s often less about 'paying' and more about sharing a special moment together. Sometimes it’s a shame to let details like that stop you—after all, it’s the memories and the time spent together that really matter. Who knows, you might have missed a great opportunity to create some beautiful memories and social connections.

As a german I totally agree with what Charlie has written. And its not the first time immigration would help us. After world war II, lots of turkish and italian people came to germany. They were called "Gastarbeiter" / guest workers. That all contributed to the "Wirtschaftswunder".

bought some PEP

Funny thing is that a lot of people think that value investing doesn't work anymore or that the lessons from Grahams book are outdated, yet my automated NCAV system has produced 50% annual returns since the covid crash in 2020.

Yes Marks son. And yes also this board. The true value investors here are rare, at least that is my impression. Most people here are now crypto gurus?

Sometimes i think that every generation has to relearn the same lessons again, because young investors are not able to learn from their parents/grandparents because they think they know better. His son is probably in for a rude awakening. (as is most of this board)

When Syria is considered safe (which is not sure at the moment), i am ok with sending them back when they have no work in germany. Even the SPD which is one of the more leftist parties will do this, i think this is common sense. As is helping people that need help. And to the gated community and armed protection, we don't have such wierd things in germany. We also don't run around with guns or knives like you guys in the US .