investor-man

Saw him on stage with Ndamukong Suh on CNBC, another "douchebag" -- though he sounded like a pretty smart guy.

This is basically my take as well. I will say that I think the Manny of 5 years ago would have won. His speed isn't where it used to be and that's the thing that got him to where he was.

So let's talk about this Steve Balmer avatar.... I think you can find something better ;D

The intent of this thread is to figure out the pure mechanics of Greece leaving the Euro currency, not to ponder if it will happen. The reason I'd like to know about the pure mechanics are the banks are looking very cheap, and I want to know how the conversion will happen, so that I can start to understand how a bank run can be avoided, supposing they leave the currency. Also, I like the looks of Autohellas, which I think will remain a successful business regardless of what happens, but if high inflation ensues, it probably makes sense to wait on that one until some sort of critical mass of hysteria. If the mechanics of leaving the euro is straight forward, that moment may be now, but if not, then that moment could be 6 months from now.

After some thought, maybe I'm too pessimistic with my assumption that they will not be able to cover the costs of running the government. Last year they had a slight surplus. If they write off their debts they will probably be able to cover their own expenses with taxes. They can probably do a 1:1 Euro to Drachma conversion at the banks, and if they can show they won't budge the money supply, the currency ought to maintain parity. This is only if they can cover their own obligations. If they can't, then I'd expect the doomsday scenario described in some of the posts above.

I'm curious what the mechanics would be behind Greece leaving the Euro? Do they force banks to convert all Euro deposits to Drachma using some conversion factor, like 2 Drachma for every 1 Euro? And force the banks to only accept deposits in Drachma or automatically convert them over a grace period? And then what does the government do about its expenses. If they've left the Euro it would be safe to assume they don't have enough money to cover their costs, so would they simply print money to cover costs and rely on lag time between quantity of money and price inflation? How long does it take to print up enough Drachma to cover cash needs? Anybody have any quick reads on similar situations in history? Anybody seen any good articles discussing such a move? Thanks!

Sounds like an interesting conversation. Thanks for sharing! Any chance of a video?

I recently interviewed at Bridgewater and they made me take myers-briggs. I came out ENTP. They told me Dalio is too. I personally take offense to the quote above! I don't like being lumped into a bucket with Tepper, despite his record ;) That dude is an asshat

Heh what I like about this quote is it's really an insult, but nobody knows it. The quote comes from a letter Newton wrote to Robert Hooke, who was very short and hunchback. The two of them had a rivalry and were arguing over who deserved credit for some optics discoveries. Hooke wanted some credit, but Newton was basically saying the credit is due to the work of others (giants), not Hooke (short hunchback). So this "inspirational" quote is really a big "f*ck you".

Anecdotally... There's a really great podcast called StartUp (http://gimletmedia.com/show/startup/) that had a story about a guy named Trevor McKendrick, who kinda took a value approach to building an app. His approach was to seek a section of the store that appeared underserved but still had high demand and then build an app better than the best selling app in the section. He ended up creating a Spanish Bible that made him $100k in its second year in the app store. I can't remember what episode, but a little googling ought to surface it. Also, I have a friend who made an app to manage BitTorrent downloads remotely via android phone. It was free but contained ads. He was pulling in $3k/month on ad sales last time I talked to him. It took him only a month to build, so I'd say he easily made his money back in effort.

I'm surprised Packer didn't mention Shun Ho Resources. If you're willing to waltz through the maze of holding companies, it's worth a look. It's profitable and if you apply the cap rate exercise he mentions above, you will still see that it's very undervalued even at a 5% cap rate -- still undervalued at a 7% cap rate last I looked, though it's appreciated lately.

http://www.cornerofberkshireandfairfax.ca/forum/events/nyc-meetup-328/

zizou and I planned to start at meetup, but due to personal reasons I had to put it on hold. I'll email him and we'll get something informal going until we can find a space for something more formal.

How about Miley Cyrus? Is she a board member?

Can we ask someone else about life?

straight to ZERO fellas! Take your money out now

Jain will murder Abel and take the role

maybe we should skip year 13 and go to 14 for good luck :) Thanks for all the effort you've put into this site. It's been priceless!

Hello Gentlemen, After almost three years of working on a fintech product that I have talked to a few of you about, I have decided to look for new opportunities. I've been in a CTO role for 6 years, and I've got 15 years of software development experience. I enjoy being a part of this community and would like to work with people like you. If you know of any open VP/Director of Engineering or CTO positions, please send me a message and we can chat. Thanks, investor-man

To bookie71's point, now may not be the right time to buy a small cap stock in the restaurant space local to an oil state.

Oh you're just jealous

Psssh.... 211% IRR ytd 8)

That's an awesome chart. I'm staying away from oil from this day forth :)

I think it's best to call the international desk at Fidelity directly. I've been told that I can't buy things by the regular desk and then called the international desk and they were able to do it