peter1234
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Everything posted by peter1234
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Could you please enlighten us on what WSBASE means? TIA ;)
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How Are You Thinking Bout The Drop In Oil Prices?
peter1234 replied to Viking's topic in General Discussion
Oil man Pickens said he had seen many of these cycles over his 50 years in the business. He thinks oil will go back up in 12-18 months. Here is the most experienced man in the industry and he does not try to explain it any more. He has just accepted that these cycles occur. ;) -
Thanks, these are interesting charts.
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It is well reasoned. He has been wrong for years. He will be right eventually. Just shows how hard it is to time the market. ;)
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One can learn a lot from Pabrai from his talks. - He runs a concentrated portfolio, roughly 10 positions at 10%. (After financial crisis he diversified more, now back to it) - Long multi-year holding periods - Concentrated portfolio means large variation in returns and large influence of start and end dates for performance calculation - Not afraid to admit mistakes and change his behavior - Fair compensation with 25% above 6% - Very low overhead and expenses - Runs a successful foundation helping very poor people get into IIT with amazing passing rates
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Don’t worry… Next time I want to share something with Liberty, I’ll send him a PM… Promised! ;) Cheers, Gio Please do not do that. It is easy to skip posts that do not interest me. Harder to do the other way around (reading what is not written.) ;)
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Try this: http://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/hyud-hyundai-preferred/msg192532/#msg192532
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Looks like a new holding: Hyundai preferreds.
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Thanks for posting, much appreciated. ;)
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+1 Well said. There is a world of difference between the owner operators that like to explain things (think Buffett) and the ones that spend a lot of time making sure you do not understand what they are writing.
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How would one go about creating a stock market index or ETF?
peter1234 replied to berkshire101's topic in General Discussion
Can you explain the concept behind fundamental weighted index? I was thinking about trying an equal or price weighted approach. Instead of using market cap determining the weights in an index, they use sales, cash flow, dividends and book value. -
I believe he had a category called work-outs. They usually worked out over a defined time frame.
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How would one go about creating a stock market index or ETF?
peter1234 replied to berkshire101's topic in General Discussion
As I understand it, he's sold his stack... He might have volume discounts with the publisher or subsidizes them to be nice to the world and to promote his firm a little bit. ;) -
Can anyone enlighten me on this? Let me try to enlighten you ... ;) Not sure where you get NAV of $2.7b from? From last letter: PSH has a market cap of $6.2 billion and currently trades at a 5% discount to the last reported NAV of $26.57 per share. Look at this http://pershingsquareholdings.com/media/2014/09/PSH-Monthly-CFTC-Statement-10.31.14.pdf Public Shares: $6b, 239.4M shares, NAV $25 ;)
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mutual-fund-managers-who-take-big-bets-skilled-or-overconfident
peter1234 replied to AzCactus's topic in General Discussion
If they make successful bets, they are skilled. If they make bad bets, they were overconfident. ;) I tend to agree with the paper. Survivorship might be an issue here: Lumpy bets lead to bigger tracking errors, so managers face higher career risk. Unsuccessful ones are let go faster. So maybe there is some survivorshorship in the data in that only the successful managers keep managing their funds. -
Thanks for the review! 700 pages summarized into 7 lines. ;)
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Reprint of the original 1949 edition: http://www.amazon.com/Intelligent-Investor-Classic-Value-Investing/dp/0060752610/ref=sr_1_1?ie=UTF8&qid=1417678167&sr=8-1&keywords=9780060752613
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Fascinating. Maybe they should hire some PR people.
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I think the latest on artificial sweeteners is that they are worse than sugar for you. So use the real thing or other natural sugars as mentioned. ;)
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Hussman makes rational arguments, but this is one painful graph.
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And here is his pitch for his stock: ;)
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How Are You Thinking Bout The Drop In Oil Prices?
peter1234 replied to Viking's topic in General Discussion
It might be linked to China slowing down. There was an article stating that like $6.8 trillion (yes) was 'wasted' on China infrastructure. http://www.macrobusiness.com.au/2014/11/ndrc-china-has-wasted-6-8-trillion/