Parsad

+1! That's the right attitude...I'm just saying a recession is coming. Investors should maintain a strong balance sheet and live within their means whether there is a recession or not...just means being even a bit more careful if there is one. Cheers!

https://finance.yahoo.com/news/treasury-yield-curve-inversion-reaches-140649287.html Recession is coming...no idea when, but rarely has the yield curve not been correct. Cheers!

Canada did it from the mid-90's to 2008: Debt decreased very modestly or remained the same, while the budget was balanced and GDP increased. U.S. needs to do this...Canada too! Cheers!

Apparently, David owns a stake in Mick Fleetwood's restaurant, Fleetwoods, in Lahaina, Maui. I was there and had no idea David was a part owner. David also owns Joe Fortes in Vancouver, which is a local landmark, named after a famous, local beach lifeguard. If you ever come to Vancouver, make sure you eat there...the vibe is very similar to Joe's Steak and Seafood in Chicago. Cheers!

Well at this point, you are essentially semi-retired. You have to do what retirees do...find other outlets to spend your time which used to be consumed by work and other obligations. For me...the #1 goal is travel. I would be very happy to go live in different parts of Europe each year for a few months and do nothing but drink coffee, visit museums and wake up knowing I have nothing to do...except drink coffee and visit museums! In the mean time until I reach that point, any extra time is spent on watching sports, playing with my niece and nephew, occasional golf outing, and sitting at a cafe drinking coffee in Vancouver. But the 5-7 hours a day reading...it still gets done every day, no matter what! Even if I'm feeling like shit...the reading to some extent will get done. Cheers!

Chances are you will see higher tax revenues in this expanding and growing economy. We've seen governments do this over and over. They eventually slowdown the deficit or balance the budget for a few years so that GDP catches up, and debt/GDP becomes manageable again. Now that the pandemic is over, the economy is bustling, power is somewhat even in the political landscape, there will have to be compromises...and some fiscal conservatism will be part of the negotiating ploys to get bills passed, including raising the debt ceiling to avoid default. But it may be last minute until people get their wish lists fulfilled! Cheers!

The skill is to be able to skim those 500 pages and pull out the nuggets that have any pertinence. I'm sure that's what they do...not read every single story on every page. After all these years, they know what things they need to read and what things are irrelevant. I must read at least a couple hundred pages a day at least...skimming out the irrelevant stuff is part of the process. Also it's habit and part of my daily routine like eating, going to the bathroom, sleeping. I have to read every day and I probably spend several hours doing it...including while eating and going to the bathroom! Cheers!

Brian Moynihan on preparing for any potential debt ceiling issues. Unlikely to happen, but always be prepared...I love this guy! As good a bank CEO as Jamie Dimon, but gets far less love from the industry! Cheers! https://www.cnn.com/2023/02/06/investing/bank-of-america-ceo-brian-moynihan-debt-default/index.html

Flexibility is important in being right. So let's say some time in the next 5 years! Cheers!

RK, I know you're rich, but you aren't moving markets! Cheers!

WTMI...Way Too Much Information! Thinking like this would drive me crazy and I would never invest a dime in the markets. No one...I repeat no one...needs to dissect fiscal and monetary policy like this to make a decent return in the stock market or fixed income instruments. Change enjoys this stuff! So if you enjoy it...more power to you. But for the average investor on here...this is all irrelevant. Buy cheap, sell dear, ignore the noise! Cheers!

It's very easy to say it was easy in hindsight. Brian's record is one of the few consistent things about Fairfax over the last 35+ years. Less than 1% of fixed income money managers have a record like Brian's...both long-term and short-term performance. The so-called best minds in fixed income investing have come and gone, but Brian continues to fly under the radar his entire career and keeps getting it right! Extraordinary! Cheers!

https://finance.yahoo.com/news/wild-theory-price-bitcoin-being-110000608.html Wild theory or reality?! Cheers!

Funny thing is that when I was sitting on the beach sucking back a mai tai watching the whales pop up once in a while, what Powell did was completely irrelevant to me...emotionally, financially and physically. We pay WAY to much attention to the noise! Just do what you do and keep doing it. In the meantime, suck back on a delicious mai tai! Cheers!

Change, while we share the same sentiment about pain in the economy, I'm still going to buy stuff when it's cheap and ignore macro. It's what I've always done, and what I recommend for investors. My macro views are more to warn people about maintaining a strong balance sheet and living at/below your means, than avoiding the market. And to always keep some dry powder ready! Cheers!

I agree. Although, I think the "next" one is going to be the fallout from inflation...impact of higher interest rates. This truck ain't stopping...it's slowing, but not stopping. There is going to be pain as it continues to hit consumers, especially indebted consumers. People are spending...to Maui, on the plane, in Maui, on the way back. I saw people spending boatloads on gifts, hotels, restaurants, rentals, you name it. Well heeled and those that have strong balance sheets will come out ok, but the average consumer who is indebted, and in many cases still spending, I don't see a good outcome. Indebted nations too! Time to start paying the piper for loose monetary policy for a decade and a half! Cheers!

That's a nice pool Greg! Congratulations! Cheers!

Burry has also missed the 30-40% rally in many tech, finance, retail and restaurant stocks. When I started this thread, no one could imagine we hit bottom. Not THE bottom, but a bottom. You buy when cheap, sell when dear. Average down on good businesses as they get cheaper and average out as they go up in value to right size the position. Wash and repeat! These simple truths work! No one wanted to own FFH, META, TSLA, OSTK, SHOP, GOOGL, etc. Now everyone is clamoring to buy. I've right sized the positions and am in 30%+ cash again. Worrying about all of these macro issues is a fool's game! Be aware, but also take advantage of opportunity. When a sector collapses 80%, that's generally close to bottom! Cheers!

The whole family had perhaps the greatest knack for the net anyone has ever seen. Bobby, Dennis and Brett were all pure goal scorers. Never had the privilege of meeting Bobby or Brett, but I spoke for a while with Dennis. Really a terrific, friendly guy! Bobby is still loved dearly in Chicago and Winnipeg! Cheers!

I ain't tipping 25% unless it's exceptional service or they really made the dinner special with their service, attitude or comments. If it's pickup/fast food, I'll tip 10%. Any other restaurant, 15% remains my number for all tips...great service 20-25%, bad service 10%. What I hate is when the credit card machine is automatically set on 20% or higher...then I have to fiddle with it and get it down to 15%. In fact, I don't think I've seen a machine that isn't set on at least 18% these days. Cheers!

Hi Ulti, I'm exactly the same way. I worked in the grocery business too in my late teens/early 20's. 100% I calculate or check the unit price. In fact, shrinkflation has been going in Canada well before actual inflation appeared. I remember seeing jars and containers decreasing in volume from at least 2019. Cheers!

Viking, there is only one thing more amazing than Fairfax and their management. You! And the other great posters on FFH. But clearly...YOU are the one that continues to provide exceptional detail day after day. Are you going to the AGM this year? Cheers!

Been listening to this in between football games all weekend! If you like alternative rock, you are going to love this album. The first great album of 2023! Shimmering guitars, great vocals, melancholy and spirited at the same time. Just wonderful! Cheers! "Derealised" by Jadu Heart https://floodmagazine.com/124543/jadu-heart-derealised/

I still think The Exorcist is the scariest movie I've ever seen. The character build-up, the sounds, sights, horror, score...still terrifying 40 years later! Cheers!

https://finance.yahoo.com/news/crypto-lender-gemini-just-filed-162115354.html In a week when another large crypto exchange goes under, BTC prices rise...hmmm! Cheers!