berkshire101

I view investing like mix martial arts. To get good, you need to take bits from everywhere to eventually create your own style. Value investing is just one art form. With top UFC fighters, most are well rounded and are exceptional in one-two things. Like Jon Jones with his length and wrestling, he's also good in other aspects of the game. So just being good with value investing is not good enough nowadays, in the long run anyways. The game is competitive nowadays so we need to constantly learn from other styles to create our own. Also, everyone peaks. Like in sports, there are people who figured out an inefficiency and make it to the top. Eventually, others figure it out. Like Conor McGregor with his striking. Other fighters learned if you make him tired then his edge goes away. I think investing is like the same. Traditional value investing might still work, but long term its edge isn't so black and white. So it's up to us to add to the depths that is value investing.

Ripple co-founder is now richer than the Google founders on paper https://www.cnbc.com/2018/01/04/ripple-co-founder-is-now-richer-than-the-google-founders-on-paper.html Pretty crazy given that there is hardly any use for the product/service.

Jim Grant Is ‘Bearish’ on Bridgewater, Saying Dalio Isn’t Focused on Investing https://www.bloomberg.com/news/articles/2017-10-05/jim-grant-is-bearish-on-bridgewater-as-dalio-grabs-spotlight Performance hasn't been good, mostly referencing performance since inception. Maybe Ray Dalio is cashing out at the top???

Just contact them directly and request the info. Say you're an institutional investor looking to invest and want more data for your analysis. Dataroma is a good starting point.

An article with some historical data about the S&P 500. https://frostyalpha.com/2017/06/08/a-tale-about-market-valuations/

Ran across this fund while listening to a podcast. It's an interesting take on investing and leveraging crowd sourcing with machine learning. How can a value investor compete?! :o https://www.wired.com/2016/12/7500-faceless-coders-paid-bitcoin-built-hedge-funds-brain/ https://techcrunch.com/2016/12/12/numer-ai-is-a-crowdsourced-hedge-fund-for-machine-learning-experts/ https://numer.ai/about

dilbert.com

Hi Oddball, Many thanks for the chiming in with the your thoughts on banks.

Thanks for the added info. The reason I ask is there might be a financial that has multiple lines of businesses. So one way to value them would sum-of-the-parts. But I need to understand what's consider debt and cash. In some cases, a credit service company's funding might rely more on credit facilitates rather than deposits.

Enterprise value is calculated as market cap plus debt minus cash. For financials such as banks and credit services, what do you consider as debt? SYF's liabilities that would be consider - I think - deposits ($43.5 billion), borrowings of consolidated securitization entities ($13.6 billion), bank term loan ($4.2 billion), and senior unsecured notes ($6.6 billion). In total, SYF has $67.8 billion in borrowing liabilities and $15.5 billion in cash/investments. SYF's current market cap is $21.2 billion. If you take the numbers above, the enterprise value would be $73.5 billion. Is this the correct way to calculate enterprise value for financials? Typically, the deposits and borrowings of consolidated securitization entities are secured by loan receivables. Would you include loan receivables in the cash/investments too? Many thanks.

Do you have a favorite newsletter that you're subscribed too? I never subscribed to one before, but thought about it since it could be a good source for ideas? Thanks.

The Donald. He's good entertainment.

Thanks. I looked at the site and his numbers don't quite add up to what I find. So not exactly sure what to use.

Does anyone know a good source to find PE ratios by country? I found this site: http://www.starcapital.de/research/stockmarketvaluation But some of the numbers don't match up to what an ETF is reporting. Thanks.

Has anyone heard of use this feature on Interactive Brokers? I wonder was wondering how helpful it is to look up hedge funds. Thanks in advance! https://www.interactivebrokers.com/hmf/en/main.php