Ham Hockers

Does anyone know how this is treated for tax purposes for U.S. individuals? Most of these structures I have seen are pass throughs. Also, are there any ERISA experts around who can opine on whether or not a personal retirement account would fall under the ERISA restrictions for ownership?

I don't mean to single you out, but it's kind of sad to me that many people think it's "just" for a police officer to kill you if he feels scared. Ham, Don't worry about it. I have my big boy pants on. If you read my post--which it appears you did, it is not really a definitive statement. The key to something being justified however is based on the circumstances. When you say "feels scared" that really means his life is in imminent danger. Based on the testimony (some from African Americans)---Brown attacked the officer in his patrol car and reached for his gun, then after walking away from the officer he turned back towards him in something resembling an aggressive posture. In my opinion this classifies as imminent danger. I would be curious to hear in your judgment how close the officer would have to be to dying for his actions to be justified. I don't know the exact line of demarcation that separates a just cop killing from an unjust one. I only strongly believe it's much farther than "turned away from a fight, then turned back around and stood in an aggressive posture." Just to be clear, I'm making a distinction between what I think is legal and what is just.

I don't mean to single you out, but it's kind of sad to me that many people think it's "just" for a police officer to kill you if he feels scared.

Shoot. How many users do we have on this board, Parsad?

Why do you think this? Just curious

Level 1 was the most annoying of all the exams. Have fun!

I'm going to latch onto this sentence of yours from earlier in the thread. I'm guessing you've been in your current position somewhere between 5-10 years, and to make explicit what is implied, you're becoming bored. Welcome to the club. Even in a field as rich and fascinating as medicine, things get intellectually stale if you stay in one place more than 10 years. Looking at the arc of my career these past 30 years, I notice I've made some kind of major change approximately every 5-10 years. I realize now that, whatever my stated reasons for making the changes at the time, subconsciously I was fighting against becoming an intellectual vegetable. Becoming a drone was the risk of inertia, and I suspect this is true not only in the medical profession. I'll go out on a limb and hypothesize this reason was a less obvious factor for why the Buffett Partnership lasted . . . 10 years. First, I started out in academic research. The colleagues who recruited me, of whom I was awestruck initially, eventually became . . . boring. Then I left and moonlighted, but travel and irregular locum tenens positions eventually became . . . boring. Got married, had a kid, bought a private practice, which over time led to . . . tedium. A simple solution turned out to be moving the office to a new location, and it felt like a completely new job. Now I'm "retired" (I can completely quit medicine) with office hours 4 days/week seeing about 5 patient/day, so more time for the value investing pastime, not to mention spending an inordinate amount of time on CoBF. So kudos to you for trying to keep things fresh. Just don't move to Philly. The medical world in NYC is vast with a variety of career options. Very interesting. I've been at my current position almost 5 years. I wasn't actively looking for a change, but got approached about this and another position (which was a little too far away). As I mentioned in a reply above, my field is quite small and, for whatever reason, there aren't many hospitals in NYC that have strong groups for this. The thing that is so appealing about the larger group is that, in my current place, I'm one of the more senior people, so there aren't those wise elders that I was so used to having at the other places I've trained. I still feel like I have a lot to learn in my field. The idea of being at a place that is much bigger with more experienced (and some ridiculously brilliant) physicians is incredibly enticing from that standpoint. I don't get that intellectual stimulation on a regular basis here. How do you feel about living in NYC vs. Philly in general, other than the job and family?

Yeah, I was curious about that. IMO, I think this adds more weight to your wife having more say. i.e. maybe you need to be the one to suck it up (I mean that in the nicest way possible).

I have this not-so-close friend who is in sales. He's a decent guy, but very hyper and in your face. He earns a lot of money for a guy in his mid-20s (+$10k/month) and has been doing so for a couple of years now. He likes to spend at least as much as he earns and he doesn't shy away from talking about vacations in Dubai and whatnot. Your friend earns ~$120k per year and vacations in Dubai? That's crazy. Re: the suggestion to live in the middle, I know couples who were split between Philly and NYC and it really isn't doable in the long term. I think OP has it right to nix this idea. Who makes more money between you and your wife and who has the higher earning potential? Have you ever lived in Philly? What are your hours like? Can you do the Acela commute?

Is this anything like a double rainbow?

haha. This guy sounds a little like Eric here. ;) Nice slight of hand here "Before frictions (fees, transaction costs, etc.), they cannot underperform."

" 'We’re having a little bit of a blow in the marketplace and a little bit of blow in Lake Tahoe,' he quipped." Explains why he's so amped up.

I just finished reading the last in the Game of Thrones series. It's not about investing. Am I still allowed on this board?

This is the underlying article referenced http://www.nytimes.com/2014/10/15/business/economy/the-price-of-water-is-too-low.html?_r=0

http://marginalrevolution.com/marginalrevolution/2014/10/californias-water-shortage.html

http://www.newyorker.com/business/currency/warren-buffett-elon-musk-future-car-sales

Milton Friedman would also say money has been way too tight.

The endowment effect in effect: http://marginalrevolution.com/marginalrevolution/2014/10/some-data-on-the-value-of-the-airplane-seat-recline-right.html

Are there any studies on this? I get why this is conceptually true, but when I look at long term results (I did spot checks on WM, MSFT, and IBM) the stock total returns are not close to what chaining together the yearly ROEs would imply. Maybe there is an issue with using accounting-based ROEs?

http://www.bloomberg.com/news/2014-10-02/fed-critics-say-10-letter-warning-inflation-still-right.html

Was it this one: https://www.robinhood.com/

The article you linked to makes the company sound pretty legitimate. I have no idea why this reminds you of Pets.com and Webvan.

The article says that is the return for the foundation, not for Cascade. I would imagine the returns for Cascade is better (if nothing else, much more heavily weighted towards CNI which has been going gangbusters for a while). I'm a little surprised people aren't looking at RSG more. Cascade has been continually buying for quite some time.

My answer to #2 would be the lowest rate of long term, non-MTM funding I could get to borrow heavily against this investment. That would probably be higher than the risk free rate.

It's a similar feeling I get when I read Grant. Both of their writing styles annoy me.