sleepydragon

SGEN. M&A Cash deal with 8% spread left. Expected to close end of this year or early next year. If this thing works work out, it will pay for my margin interests of the entire account for 2024

Sold PAH at loss too. now i have a rule for myself: no foreign stocks,

not only that. I heard Ray Dalio also printed a Chinese version of his “principle” book, with red covering like Mao’s book, and gave them to many Chinese officials . Lol

I agree with Munger. Munger has what nowadays many people lack: common sense. There’s nothing wrong unless 1. Buffett’s trade either the same direction and immediately preceding Berkshire’s trade, or 2. opposite directions and after Berkshire’s trade. Almost all portfolio managers at mutual funds or hedge funds can trade their personal account, as long as you are not trading against your clients. And you can look at how long he hold his positions. Was he flipping right after Berkshire bought or sold? He was not. All those stocks he had for decades.

Every single employees at BW have to remember every sentence in it. They have study sessions and exams on this book

I am thinking FIS - a finance company with a new female blonde ceo.. Buffett like blonde:) and FIS just splited out their “sexy” business and what’s left is the stable, moaty business of bank back office. Baupost also owns shares in this company.

13F is out. Any guesses what the secret stock(s) is/are?

Ray Dalio is married to the same woman for the last 30 or 50 years. I think he’s a decent guy. He is a bit crazy on his “principles” and that might have made Bridgewater a little suffocating place to work (but other places are worse, some are a lot worse). At lease Ray pays everyone well while they are there. People cared a lot about if he’s an investment genius or his pure alpha strategy etc. imo, that doesn’t really matter. That’s not how Bridgewater makes money. Bridgewater got a lot of AUMsfrom foreign govt (at the same time he probably get some insights which may have helped his pure alpha directional bets on big macro ideas). How do make these foreigners give their nation’s sovereignty fund to you to manage? You got to be very good at explaining how “economic machines” work etc.. he is really good at that. And the investment strategists (aka salesman) are super good at that. Now he’s retired, does the people left behind In Bridgewater know how to make money (or get money from investors )? They might think they know.

Following Baupost into TSEM

I don’t know what interest rate they are using but the same model of car I leased 3 years ago is 50% more monthly now for new leases

I am doing the similar thing. When interest rate is low, it’s good deal to lease car. Now the interest rate is so high, it cost way more monthly to lease the same car. At the same time , both new car and used car are more expensive than 3 years ago. I figured it’s better to exercise our option to buy the car now and drive it another 3 years and then lease a new one when the rates are better. I am not taking a loan to do it. Selling some stocks to pay for it. And the margin loan at IBKR likely have lower interest rates from banks (though I usually do not have margin balance for more than a few months)

even for Congress man , institutional money managers or perhaps SEC staff, you are allowed to trade stocks for your personal account. It’s only a conflict of interest if your personal trade is in the opposite direction of your firm trade, for example if you are buying for your clients and you are selling your own at the same time or shortly after (not before) your firm trade. If it’s the same direction, there’s no problem at all , unless the personal trade is unwinded shortly after the firm trade

I think they will be removed from MSCI Europe indices which to be announced on 11/14th. There will be some supply pressures. Then maybe after the delisting it will be added to US indices (SP400)

interesting.. will it be added to US indices when it's delisted from Milan?

Bought a bit CPRI

If you are looking for screaming bargains, I have bought Baba at 85 and 120 (down from 200ish) and Porsche (which I have sold) at 70% “NAV”.. not doing too well on those !

Iphone is the new tobacco— highly addictive. When my in law lost her iPhone, she immediately spent a thousand dollar to buy a new one. There’s a video online that in China when a middle school teacher took a kid’s iPhone, the kid neck choked his teacher.

Maybe when he buys A shares it’s usually not from the market. Instead it’s from some family who who would like to sell and called Brk.

Buying options for the first time since 2008 (before that I worked on option market making desk) — SAVE calls

BAM is also trying to get out of its circle of competence. They started a hedge fund doing systematic trading (similar to Millennium, Citadel etc), but didn’t make it work and had to liquidate the whole fund.

Added to SAVE

bought a bit ACI and LQDA

true but unfortunately buying is more expensive now also because there are still people willing to pay this price and sellers asking whatever they want.

But it appears it's a sure things that FTC and California and who knows what other states will sue soon, and if they do, it's going to be another 8 months in court? Might as well to wait till the FTC sue?

Indeed