yadayada

he makes some interesting points, but he also spews a lot of pseudo scientific crap.

most people were not educated, and there wasnt a information high way like you have now. And I think he means he doesnt want any government regulating in general. If you make a drug now that does something bad, your company will get destroyed in the media and all over the web, and you go out of business really fast. Especially without regulation. Before there are like 10 deaths, everyone will know about it, and that company will not make another dime. And in the old days, people thought smoking was good for you, and the earth was flat. So I dont think the two compare. Most of these problems you mention were fixed by science, and people becoming smarter and being able to more easily communicate over larger distances. Also being able to actually read, and being able to look up everything on the internet really helps. Not by government regulation. That only really kicked in after world war 2. Besides most foods are god awefull right now. Half the stuff in the supermarket will help you into an early grave. And I remember that with protein powder you have to look up the ingredients yourself in the US, because they can still put a lot of stuff in it. As long as it is not banned by the FDA. It is probably easy to find some protein shake out there that greatly increases risk of cancer. And I bet in 50 years we will find out a lot of processed food is a lot worse for you then we now think.

what kind of paperwork has to be done? Those are some ridicilous figures. I mean an audit should be really simple right? Monthly admin fees also look pretty ridicilous. Most of the time, all you have to do is look in your brokerage accounts and see what went in and out, and what the balance is now? That all seems little work, and a lot of money?

just curious, do you have any of those 20-30% positions at the moment?

A coutner argument against arguments like this is that the market will adjust. Things will become a bit more expensive, but company's who wish to sell food are now very motivated to be very transparant. ANd obviously your brand loyalty will erode very quickly if your food turns out to be bad for health with no FDA. People will become much more distrustful, and it will ruin the brand. And you can argue that the FDA isnt even doing a very good job.

yeah but a market constricted by regulation is not a free market. Some people here raise some good points tho.

spacex isn't necessarily doing it better. they are offering to do it cheaper. very likely bidding has been based on what they think they can charge, not cost. they are doing it better by finding out how to land the rocket back to earth? That is how it becomes cheaper.

walters is a legend

yesss, this one should be mentioned more. ANything by this porter guy.

Ayn Rand? common sense?

They are too entrenched and capital rich - like in the example of instagram, whatsapp, diapers.com, etc. if they can't destroy you, they will buy you out. To courage innovation, natural monopoly should be given free rein for 10-20 years, then they should only make regulated rate of returns. What Google charges is an invisible taxes on all consumers. they dont have a monopoly on advertising. If they charge too much, then advertisers will go away. If their search engine doesnt work well, then people will start using bing.

it seems almost all of the abuse and all the examples of 'capitalism is broken here', are examples where politicians are protecting them by regulation. Like with comcast, or with healthcare. People say, look capitalism is broken! when in fact government is unfairly protecting them.

So basicly we agree that the free market would do a lot better job. But where it will go wrong is corrupt government. Bureacracy stepping in and ending the party. It seems a lot of these problems are political, the political system is broken at it's core. And before we let anything be regulated by free market, you first need to fix the lobbying problem.

I am assuming NO crony capitalism here. So a pure free market where corporations cant lobby to get unfair advantages. In what ways could this be bad?

But then the poor wouldn't get the wonderful education that they currently do. You'd have a situation where the middle class and rich kids would get a good to excellent education while the poor would be stuck in dangerous poor inner-city schools with teachers who are burned out or simply don't care, which would make for a poor learning environment. So these kids will simply not have the same opportunities to learn and better themselves as the wealthier kids do. Of course under government run systems everything is rainbows and unicorns and just works perfectly because the law says it must. EDIT: I don't believe that ending public education would result in the above, I actually think everyone, including the poor, would be much better off. But I just wanted to point out that even if all of the worst fears of ending government funded education that people hold in their head's were all completely valid and came to be, it would only mean that private education would be the equivalent of the public system we have now. Also in case you were not aware of this organization: The Alliance for the Separation of School & State you can give subsidy? The less you make, the more subsidy you get. And get the banks to make an account where you can only send that money to schools? Just so poor people wont use it for other stuff. Can also make certain laws that force schools to randomly take kids. So they wont handpick the best students to get the best results and ratings.

I guess this is a bit of a derail, but what completely blows my mind is that we let the government run education. Isn't education basicly a product? You pay a certain price for people inserting information in your head in a certain way, by trying to motivate you (or the 12-18 year old you) and by explaining this in a certain way. Just look how the free market basicly made every other service and product very good and cheaper. Why can't we let the market do education? Instead the most important thing (maybe after healthcare) is run by a horrible bureacracy that does not care at all about innovation. I think greenblatt is doing good things here, and the bureacrats and teachers unions are actively working against his superior and cheaper model. Makes me cringe. But as soon as a politician mentions it, people point toward corrupt bankers and think horrible things will happen.

constructive & Andy Dufrense, thank you very much for your kind words! :) Until now, just a “poca favilla” with no “gran fiamma” in sight… But you never know, right?! ;D ;D ;D Cheers, Gio just curious, what kind of business did you set up? Or what kind of industry if you dont want to be specific.

Im really curious how Musk basicly went into space industry and is now doing it better then everyone else. There are some pretty smart people in NASA and other rocket company's right? I guess bureacracy is just that bad in those organizations? Musk is very smart, but I imagine that a lot of people at NASA and those rocket contracting company's are also very smart.

i liked his view on PE multiples. And what those numbers roughly mean. Got me to play around a little bit with it and picture in my head what a company would look like in x years with different PE multiples, growth and leverage. When a company is cheap at a PE of 15, and when it might be expensive at a PE of like 8. Also details matter. Like his motel example, these dumb little details can make a big difference over time.

Lol i can see the first conversation between their coach and steve 'now steve just because they can all play basketball better then you is no reason to fire them'

well what the hell was he doing on a value investing board, he should be preaching on a like-minded board..... I guess that tells you he actually started to belief in his own crap.

This always bothered me. If a regular person swims in coins like that, they would look like one of these people on those 'wear a seatbelt' posters. wear a seatbelt poster?? I don't get it https://www.youtube.com/watch?v=vmp-dhCMgak And yeah the part hwere ducks were talking and living in houses didnt bother me.

This always bothered me. If a regular person swims in coins like that, they would look like one of these people on those 'wear a seatbelt' posters.

Im in Texhong. Half their operations are in Vietnam now, making textile on the cheap. It seems to me you buy into excellent operators with a low cost advantage for some time to come for a v cheap price. Probably safest way to invest in vietnam is finding chinese company's that set up shop there.