undervalued

I heard that's where you can get Corona in South Korea.

Is the strategy to buy basket of these companies' LEAP, 1 year LEAP vs 2 year LEAP?

Airlines

I remember hearing his last interview with CNBC saying banks will be fine with negative interest rates.. Did I misunderstood? Anyone heard it differently?

anyone have any idea why gselinks stop making updates?

So when Warren says, the stock is only 5% undervalued and not worth repurchasing. What makes you so confident when the master says otherwise? Maybe provide more explanation on why the current shares are undervalued?

Thank you for making the video. I was looking for this thread for days and I now I finally found it. Great content.

Is it just me or he implicitly mention about Liberty Global in his letter?

It's possible, but remember that back in 2004, when Morningstar named him Fund Manager of the Decade, he had a nice 27-year track record of 11.5% annually. That's a long time. So, I guess the most likely things that could explain the discrepancy are: [*]He got lucky for 27 years, and unlucky afterward [*]He got brain damaged and nobody said anything [*]He changed what he does [*]His value investing style is really out of favour, leading to bad returns [*]The world has changed and what worked for 27 years no longer works My best guess is it's mostly #4 with a spattering of #1. The world has changed and what worked 27 years ago no longer works. I see many value funds who used to crush it 10-20 years ago who have lagged the market big time over the last 10 years ago. The markets are dynamic, they are always changing and you need to stay close enough to it in order to recognize when that has happened. You have to keep evolving as old things die and new opportunities present themselves. I think that's it. As more and more technology companies become a big chunk of the Index, maybe those valuation methods need to be updated. Asset based valuation methods are less useful and also these days you have a smaller pools of those asset based companies to pick from.

+1. +1 I agree that the last 12 months have been positive however does current situation has more risk or less risk compare to 12 months ago? Do we have more variables now that has to go right compare to 12 months ago?

At what point do you think the preferred will be around at least 60% par? After settling the lawsuits and amending SPSA or closing the re-IPO? Originally the thesis was after sweep has ended, now that had happened. What needs to happen next? Do you think the big players are making money from trades or from preferred reaching finish line (IPO)?

I am on my mobile phone and looking through to see if there is a WeWork thread but I found this one first... https://fortune.com/2019/11/07/softbank-wework-earnings-deck/ Presentation on Softbank site https://cdn.group.softbank/en/corp/set/data/irinfo/presentations/results/pdf/2019/softbank_presentation_2019_002.pdf

Netflix would've gone the way GameStop if they didn't stop dvd rental and move to streaming. I guess this is one of those things, if you ask a person who's familiar on what some of future technology can do, they'll be able to see this scenario coming few years ahead of everyone else. What Buffet called 'Wide Moat' companies are now being attack from all directions, you could say the next gen is filling those moats with cements and slowly being eroded. To answer your question: Airlines would be one.. with the deregulation in the 80s.

Let’s be friendly and focus on the goal (making money). I sincerely appreciate everyone’s discussion TA or FA. For the record, since this bull run began you have been spot on Muscle, hope you made some nice gains. I also know you had intentions to help with TA and not mislead. Thank you for that.

Which beach is the question? San Diego area, probably the home itself worth around 1.5m :P

Isn't it amazing that every time there was an admin delay, we say "Now the thesis is back to courts", and every time there was a negative court ruling, we say "Courts don't matter. Now the thesis is back to admin reform"? ::) With that said, I do think Collins is promising. But we have been wrong all along the way. ::) Just to add some perspective. My cost basis on the Jrs. is 47 cents or about 2 cents on the dollar. If I were to sell today that would mean 1700% correctness. I would love to be wrong this way only 1 more time in my investing journey. rros, could please you elaborate on how 1700% were achieved? My uncreative mind has been stuck to buy and hold strategy. What made you confident is selling/holding/buying at different periods?

That’s an interesting find! So currently the Tsy is getting few billions from GSE every quarter, what will happen when they let GSE go? They'll have a deficit until they redeem the Sr preferred. How soon does that need to happen?

https://finance.yahoo.com/news/fannie-freddie-watchdog-gets-careful-200603331.html Someone secretly leaking out the plan? Well someone made a lot of money from that.

Agree. Extending gratitude to Bruce Berkowitz and all the other hedge funds. For seven years, we've enjoyed world class legal representation at no cost. I'm very grateful. Ditto

https://www.marketwatch.com/story/as-fannie-freddie-reform-gets-underway-here-are-the-three-big-questions-for-the-housing-market-2019-01-29?siteid=yhoof2&yptr=yahoo The 2008 law that put Fannie and Freddie into conservatorship in the first place specifies that the two companies must technically be liquidated if they are to exit government control, according to Karen Shaw Petrou, who runs financial services advisory Federal Financial Analytics. But as to what happens next, and whether the housing finance system is still underpinned by the powerful twins, is the biggest question facing the market right now.

https://finance.yahoo.com/news/hedge-fund-pge-losses-160917499.html

Agreed but there is a very limited window of time to get f&f released. i was very pleased to see that otting emphasized that Mnuchin is commited which tells me he won’t back down bc of political blowback but one can’t be sure I wonder why don't Mnuchin or Otting just announce it themselves that F&F is released instead of saying plans in place and everyone signed off 2-3 months ahead? Can't they do that?

Anyone have a good reason why Otting come out now before Calabria's confirmation? It will create a difficult session later on for him during Q&A.

Does anyone know if Eddie Lampert ESL owns any FNMA or related securities? If not, why not? He worked with Moelis and friend with Mnuchin. Seems like easy money if everything is going the way it is?

You shouldn't listen to me because my luck is pretty bad also. When I can't decide which one to sell or hold, usually because I don't know which one will do better, I sell both in equal percentage. If you don't want to worry, better keep it in cash.