bargainman
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Posts posted by bargainman
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Anyone here know what the state of crypto and transactions is? Last I read Bitcoin and Ethereum had major transaction issues, meaning the scale of the system had not gotten there. Ie the requirement to get the blockchain updated was a costly and major impediment to someone 'paying for coffee w/ crypto'.
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Apologies for the political click bait title of this video. I thought it was interesting though wrt housing, especially in CA and NY. Basically the 'yes, but not in my backyard' issue.
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POWERUP 4.0: Smartphone Controlled Paper Airplane - POWERUP® (poweruptoys.com)
Flying paper airplanes with my kid and smartphone
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I guess I'll be keeping my 1997 for another year...
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56 minutes ago, Gregmal said:
I mean another iteration of the benefit is if you want to go long sell a shorter dated put and buy a longer dated call and unless YOU ARE WRONG you never even have to take money out of your pocket.
There are many options variations and enough greeks to shake a stick at. You do generally want to sell short term and buy long term, but even that has exceptions. Usually I buy LEAPs fairly ITM on long term solid companies and hold enough cash where I'm not overly leveraged. Were I to sell puts I'd probably become leveraged. I know folks who oversold puts and got wiped out a couple of times cause they weren't careful. Just cause there's no money out of your pocket doesn't mean there couldn't be. That said, I'm probably too conservative at times
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On 10/28/2021 at 9:19 AM, Dean said:
V as well for me.
What happened to make V and MA drop? Any thoughts on impact short or long term?
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On 10/30/2021 at 12:29 PM, Gregmal said:
I don’t think I’ve ever felt screwed when a stock goes up that I don’t own. Here you are just committing to buy it at price that’s currently below market. You’re getting paid not to own it. If you like it enough right now you should just be buying it.
I mean think about it, how many times do you see folks go “I’ll buy the dip”…”can’t wait to buy more at lower prices”…then the dip comes and they shit their pants and freeze up and do nothing.
Oh I've certainly done this. Several cases where selling credits (either short puts or covered calls) have been some of the 'worse' financial decisions. I've learned to never go all in on credit selling. I'll always have some unlimited upside left open, mostly for psychological reasons, but also because if you cut off all your unlimited gains you'll likely greatly limit your returns over time. Plus it's easier to buy a leap and get unlimited (in theory) gains vs sell credits over 16-30ish months and manage those positions. Especially if you're busy
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On 10/6/2021 at 11:14 AM, ERICOPOLY said:
Yes. Potential for 5% of capital vaporized.
Strikes are $70, $110. $140.
@ERICOPOLY why these particular strikes and expiration? If you don't mind sharing
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MELI. Anyone else looking at MELI?
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I bought $1k many years ago when it was Hansen. Then a few years later I sold $1K after it tripled to 'get my money back'. One of the dumbest financial investment decisions I ever made.
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I park cash in SHV or MINT. Both are pretty close to what 'special deal open an account bank savings accounts' will give you. Plus I can hold these in any brokerage account. Lately the % has been awful but same for any 12 month cash like instrument.
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wow, these are his best ideas now...
"Of the total, 42.8% is composed of cash, U.S. Treasury Bills, money market funds, and investment-grade commercial paper with an average
duration of two weeks. 30.6% is in St. Joe common stock, 12.3% in the preferred stock of Fannie Mae and Freddie Mac,
8.9% in the debt of Imperial Metals, and 2.9% in the common stock of Vista Outdoors. Sears 8% bonds of 2019 compose
1.5% of net assets, with Imperial Metals’ common stock at 0.8% and Sears’ common stock at 0.1%. "
what happened to you Bruce? :-(
http://www.fairholmefundsinc.com/Documents/FairholmeFundsInc20181029.pdf
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So does anyone have any thoughts on what caused Berkowitz to go from outperforming for many years to the streak of underwhelming performance? I still cannot believe that his best ideas were Sears, St. Joe's, and Fannie Mae Freddie Mac preferreds.
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Bitcoin at USD 50,000 is achievable because the supply of bitcoin for sale is very limited relative to the demand; and as with a BRK share, few can afford to purchase. The solution is a share split that creates more affordable Baby BRK's - for Bitcoin, a material increase in the design limit.
All fiat currencies get inflated, & it is largely why we create them - Bitcoin just does it a different way.
SD
you don't need to purchase whole units. Satoshi units will do.
https://en.bitcoin.it/wiki/Satoshi_(unit)
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I wouldn't want them in my town that's for sure.
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I've moved to script editor based..
eg:
=getMidPrice("AAPL180119C00100000")
where tools->script editor, then enter:
function getMidPrice(ticker) {
ticker = encodeURI(ticker);
var response = UrlFetchApp.fetch("https://query2.finance.yahoo.com/v7/finance/options/" + ticker);
var chain = JSON.parse(response.getContentText());
var ask = parseFloat(chain.optionChain.result[0].quote.ask);
var bid = parseFloat(chain.optionChain.result[0].quote.bid);
var mid = (bid + ask) / 2;
return mid;
}
ymmv
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Well it sounds like there's a large genetic component, so it's bound to get into shouting matches
https://www.scientificamerican.com/article/the-genetics-of-politics/
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remember Lustig's talk. Apparently fructose is the biggest culprit, not necessarily glucose. Apparently it's digestive pathway is like alcohol and generates all sorts of toxic byproducts.
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The 2016 Annual Letter is out...
http://www.fairholmefundsinc.com/Letters/Funds2016AnnualLetter.pdf
Bottom line: Sears has degraded net asset values, but there is still much left and the company is fixing its cash drain.It is hard to respect a man who, at some point, can NOT admit a mistake. Buffett has always been great about admitting mistakes.
(By the way...I revived this old thread to point out that some members of this board seem to have a greater mind for value investing than Morningstar's Manager of the Decade™. If Berkowitz had listened to those above this post and perhaps kept his Pfizer, White Mountains Insurance Group and Bank of America holdings instead of doubling and tripling down on Eddie Lampert...)
whatever happened to.. 'we count the cash'??
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I guess I may not have made myself cleat. I was not talking about loans or financial institutions. I was referring to private individuals and small contractors who did not get paid for their services.
Watch this video from the point of view of one of those contractors it's only a few minutes and quite elucidating:
This is a pattern and it has happened over and over again if you do any research. Basically his strategy is one of a lack of integrity and trying to arbitrage the deal when he can get it. It's basically a standard operating procedure it seems. He negotiates a deal, gets the other person to agree to a price, then gets other person to do the work, then when the other person does the work and sends the bill, then at that stage he doesn't pay it or he pays less than half. Then he sends his lawyers out to the person and tells them that they can sue him and they will probably win if they sue him, but it's the lawyer's job to make their lives is so miserable and make the process so long and difficult that they would just be better off taking less than half or even less than that of what they are actually owed by contract. He has bankrupted his contractors many times over doing this… And hey sure it works…
This is why I brought up his earlier comments about the United States debt. He kind of made that flippant comment, about being able to renegotiate the debt. And yes we could definitely renegotiate the debt since we print the currency etc. But this isn't really about that. The fact that he goes in knowing that later on he's going to try to change/renegotiate the agreement, demonstrates an immense lack of integrity. And I'm certain this is something Buffett would never do.
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"That said, his statements on women and minorities alone should disqualify this man from even running for president."
So Hillary should disqualify for calling deplorables a much larger share of the overall population?
And regarding his comments, he made comments on minorities and women on specific elements of them. There are bad elements crossing the Southern border. Are they not Hispanic? He has never said that all Hispanic people are bad or tainted with the same brush.
Whatever he called Rosy O'Donnell, is not applied to the entire women population. And how do you think Hillary called Monica Lewinski, Paula Jones and others? Does that apply to all women???
Like I said before he is far from being a great candidate. But, please stop generalizing every comment.
Cardboard
I'm not generalizing every comment. He's making the comments over and over and over again, and over time it's pretty clear where he stands. He's going to build a wall, deport families. He has a long long history of womanizing. 3 wives, cheating, treating women badly. It's not isolated, even if one comment is..
That said, actually the thing that nailed it for me was watching his rallies. He incites violence in his followers. Not just hatred, but violence. He actually told people to throw others out or attack them. Obama and Hillary would never use that sort of language, and I have watched comparisons of Obama dealing with hecklers. He also lies over and over and over again, without shame and without reflection, and demonstrably so. Fact checker sites confirm this, and actually put Hillary up as one of the most honest politicians. He's a great divider and that's terribly dangerous.
He's spent his life in his own service and aggrandizement, not sure what makes anyone think he will now be a great advocate for the people.
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His standard operating procedure is to get away with as much as possible, pretty clear from his 'renegotiating the debt' statement. He loves court fights.
“Trump could have settled it right off the bat, but they wanted to fight it out, that’s their M.O.”
In that case, the manager of the contractor behind the renovation testified that the painter was not paid because Trump had "already paid enough."
In his ruling, the judge noted that Trump's attorneys "visibly winced, began breathing heavily, and attempted to make eye contact" with the witness. Those attorneys have since filed a motion to delay the sale.
That said, his statements on women and minorities alone should disqualify this man from even running for president. I'm not sure how anyone with a mom, sister, girlfriend or wife, or any hispanic friends could support him.
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Look at his veto for the 9-11 bill, which got overturned by Congress by a margin of 97-1. This is one of the most shameful moment in his legacy.
a vote they immediately regret for 'unintended consequences'. Ie, they didn't read it or think about it before voting...
http://www.nbcnews.com/news/us-news/lawmakers-fret-over-sept-11-bill-day-after-veto-override-n657046
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Wow that's one impressive letter… it's not enough that he took on Warren Buffett for not being shareholder friendly, now he's taking on ETFs and low-cost index funds for being very expensive! Careful with those look through expenses he says! All the while he sits back underperforming and collecting is 2% fee on a shrinking asset-based…
Zelman on housing
in General Discussion
Posted
ha. Those are non-elites who can't afford to retire in state! The actual 'elites' stay