Parsad

Gung Hoy Fat Choy! Cheers!

JGBRK...I'll take that bet! You think we could put money down in Vegas on that one? Cheers!

I was worried after they blew the points/touchdown at the end of the 2nd quarter. Kansas is a momentum team, and I could feel it disappear right there. They were too cautious and not slinging it anymore in the 3rd quarter. Then blew their chances again in the 4th quarter and overtime. Burrows is a great, young quarterback. If it wasn't Mahomes, who I've been cheering for since he came into the league, I'd put my money on Joe Cool. You can see it in his eyes and demeanor...he's going to win a Superbowl in the future, if not this year! Cheers!

Nice! Great for insurers. Cheers!

Your criticism would be fair if you had not been using this site for free for 10 years...talk about gall! My criticism of WT's ads wasn't that they were ads, but that they kept saying "Wall Street legend". Also, was anyone ever stopping you from selling your shares in Premier? Last I checked, I was the one still keeping it afloat, including during the pandemic, until the businesses could be monetized. Cheers!

No. Once the Macy's tripled and Overstock.com shot through the roof, I paid it off. Also, I should correct what I said...I actually used a secured line of credit that I keep dry, rather than actual margin from a broker. That way I wasn't exposed to any margin calls if things kept dropping for a while. I would not use actual margin from a broker...no matter what. I had never used debt to leverage my investments before, but in such a dramatic fall, I would do so again...limited to about 15% of the portfolio value. That way I get some leverage, but I can sleep at night. Also, the pandemic was different...you knew that things would recover relatively quickly and many industries would be barely hurt, whereas 2008-2009 was much scarier...the potential destruction was extremely broad in 2008-2009, and the financial system was at risk. I would not have used leverage in 2008-2009, but probably would if something like 2000-2002 happened or 2020. Cheers!

Buffett looks uncomfortable in this picture. Notice how hard he's squeezing the Coke bottle and the cap is aimed directly at Tilson's head! I'm assuming the real Buffett didn't want to pose with Tilson. Cheers!

I thought it was quite good...and the story is compelling. Cheers!

Are any of you tired of seeing Whitney Tilson's face constantly plastered on Google Ads? If so, please sign my petition on Change.org to have this "Wall Street legend" banned from shilling out any more investment advice! Literally worth less than a shilling! I'm kidding about the Change.org petition, but if any of you want to start one, I'll sign it! Cheers!

I would do anything for love, I would do anything for love, but I won't get vaxxed! Cheers!

LOL! That's about right. I remember on all three occasions, I had invested all of the capital by the time markets hit about a 40% correction. After that it was selling 7-10 times PE stocks to buy 3-5 times PE stocks. In 2008-2009, literally selling 5-7 times PE stocks to buy 2-3 times PE stocks and 6 month to 2 year corporate bonds at 40-50 cents on the dollar. I remember buying Sears Holdings 6 month bonds for 50 cents on the dollar. They had enough cash, let alone inventory, to cover the next 2 years worth of debt, but investors were selling 6 month out bonds for 50 cents on the dollar! This time around in March 2020, there were so many bargains in retail and restaurants, for the first time in my life I said I'm going to use 15% margin. Bought Macy's at $4.99 and Overstock at $2.99...crazy! Luckily, I'm not married, so no wife to worry about and I was able to take advantage of those opportunities. Cheers!

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!