Parsad

That's one I finally took a position in. When it was down 10% today...now it's 6% higher! The other stock I bought down 8% is now up 5% as well. I made my whole 2% across all my cash in one 7.5% investment between two stocks. If prices continue to rise, well my cash hasn't been sitting worthless. If prices fall, I can put more money to work. The flexibility of cash always makes it king! Cheers!

Correct! Losing 1-2% short-term is worth it if you can put some of that cash to work into something that has corrected greater than 50%. But you have to put it to work at some point as you said. I've been sitting on 50% cash for the last few months...today I put 15% of that to work into a couple of ideas that are down 60% plus from their highs, yet their economics have barely changed, if at all! Great businesses that finally have come down to reasonable valuations again. And if they or markets continue to go down, I will put more of that cash to work...ever tightening the upside spring! Cheers!

That's always the sentiment when things begin going downhill. I do remember the fear in investors eyes the last three times the markets corrected dramatically...2000-2002, 2008-2009, 2020...and few actually have the balls to make it through without it hitting them hard mentally. All three times I remember only a handful of us feeling like it was Christmas, but most investors were shell-shocked! We don't have the archives from those first two periods, as this site took over in late 2009, but what you would see is alot of the "focus on the long-term", "markets being markets" talk was out the window. Why? Because as we know, losses always affect investors more than gains, and rational behavior disappears. I encourage you to keep a long-term view as Greg suggests. Reality suggests few can. Cheers!

That was easily the best weekend of games I have seen in my life! Go Chiefs! Cheers!

Prem also wrote the forward. Cheers!

Many of you know George from his Ivy class or his discussions and conference in Toronto during the Fairfax AGM. George has just published his new book "Value Investing - From Theory to Practice"...probably a good book for new investors to value investing. Prem has written the forward. Cheers! VALUE INVESTING: From Theory to Practice – Cavie (valueinvestingeducation.com)

Unfortunately, can't move it to Politics, so I'll lock it. You can start this conversation over there again. Cheers!

Trump went to Wharton...do you really need me to explain why he's an asshole or moron? That being said, let's move this to the Politics board. Cheers!

As expected, global catastrophe losses were quite extensive in 2021, and the hard market should continue into 2023. Cheers! Natural disasters cost world’s insurers $120-billion in 2021, Munich Re says - The Globe and Mail

Miller's whole argument for investing in crypto is because it is a supply/demand issue like artwork or collectibles. Accordingly, the argument is it's worth what people want to pay. This is the best argument for crypto and the worst argument for it at the same time! Artwork/collectibles can be sold or bartered, but ultimately are useless as currency. They are a store of value because of their utility as a collectible...investors can look at it/sell tickets to view it/donate it and receive tax receipts. But it can never really be used as a replacement for currency. Ultimately, this current batch of crypto will be viewed as collectibles...whatever people want to pay for it. What that value is is anyone's guess. Cheers!

My reference to the "current" batch of crypto is aimed at all of the coins not backed by anything tangible or cash flow, provide zero utility, and are based solely on supply/demand. I expect the next batch to be digital currencies tied to tax revenues or corporate cash flows, which will make the current batch impotent. Cheers!

https://www.marketwatch.com/story/a-27-year-old-truck-driver-just-became-robinhoods-first-big-headache-of-2022-11641856157?siteid=yhoof2 “I’m definitely going to continue to trade,” said Batista, who maintains a vestigial Robinhood account but now mostly trades on a competing app, Webull. “These aren’t meme stocks to me. I just watch the momentum. I’ll take 10 stocks and watch throughout the day.” Somehow I think this guy is going to lose money on his portfolio at Webull too! Cheers!

https://finance.yahoo.com/news/billionaire-investor-bill-miller-now-182721089.html Is this the death knell of the current batch of crypto? Bill Miller has gone all in! Yikes! The ARKK is sinking...is Miller Part Duh (deux) next? Cheers!

One of the great investors of our time! Helped make Geico what it is today. Cheers!

This is if you believe in technical analysis. I give it no credence whatsoever. If the fundamentals look like they can be turned around or have been turned around, or you can buy the company for less than liquidation value, then it may be something worth looking at. Generally, a 52-week low stock is there for a reason. Cheers!

Absolutely true! Sipping some nice brandy works too. Helps with any chest congestion and clears the sinuses! Covid, flu or nothing at all...highly recommended. We've had a ton of snow since Christmas, and it's been nice having a drink every couple of days while you watch the snow. Cheers!

We had a run of it with family and friends during the holidays. All had mild to medium symptoms...similar to the flu...some with fever, some with no fever...sore throat, fatigue, body aches. They were all fine after a couple of days. I've had two vaccines, plus the flu shot and had no symptoms during the holidays, even though I met with some of the infected when they would have been contagious. Frankly, I think I had Covid right during the beginning of the pandemic when my grand-uncle died from it. I was sick around then, and have not been sick since, even though I do everything a normal person would...no flu, no cold, nothing! Knock on wood! Cheers!

Will we be ready when the music stops? https://www.barrons.com/articles/asset-prices-are-climbing-as-debt-soars-will-we-be-ready-when-the-music-stops-51641311454?siteid=yhoof2 Cheers!

https://finance.yahoo.com/news/fairfax-declares-annual-dividend-124500768.html Cheers!

There's a difference. Munger simply wanted to be financially independent, so that he could do the things he enjoys. Buffett wanted to be financially independent, but also wanted to be the richest man on the planet. For Munger, he wanted to get there quickly if he could. For Buffett, the game was long and was about accumulation. Munger loves the Daily Journal, that's why he's managing the capital...so that it will go on forever. Otherwise he wouldn't bother. Cheers!

How do we quantify for that? It's not like the largest companies in the past didn't have huge, extensive global businesses...KO, MCD, SBUX, GE, GM, WMT, XOM, DOW, etc. Remember, the rest of the world is also doing extensive business with the U.S., so it's kind of a wash. If anything, you would have to add the market capitalization of other countries to the market capitalization of the U.S...and divide by the U.S. GDP combined with the GDP of the other countries...and most global markets aren't undervalued either. Cheers!

Yes. Does this look like 1998/1999 again? Do we see a split in value stocks and growth stocks for the next couple of years? Cheers!

60% drop for a company that is still making money hand over fist and probably will grow at better than 15% annualized for the next decade...wildcard is the CCP. We shall see if the old man still has his mojo or if he's used his last ball as you suggest. Cheers!

Agree with Dazel...although, the picture never came off my mantle/wall...it's always been there! Cheers!

Without understanding macro you cannot accurately hedge things out...you're just guessing then. Cheers!