spartansaver

Awesome game, congrats Canada. It was so close from start to finish, really entertaining.

Four Nations USA vs Canada on right now. Probably some of best hockey you’ll ever see.

When are the times you’ve used index options?

I’ve seen in the past you state that you’re >100% long. Do you hedge or use options in any way or just let it ride?

As a follow up, the company I initially discussed was MPAD (micropac) which ended up announcing it was sold on Nov 4. Maybe one more positive data point that you can occasionally make educated guesses on companies getting sold.

Article in the WSJ! Congratulations! https://www.wsj.com/finance/investing/warren-buffett-early-investment-methods-brett-gardner-10e027fe

That's one worry I've had due to the K1 but hopefully its a good problem to have down the line. I'm semi expecting to pay taxes in my non-taxable accounts.

Thanks for posting Greg. I've been following for four plus years but never bought. I missed the announcement about the ruling. Bought as much as I could today. I never wanted to get in ahead of the ruling, but with the positive outcome this thing looks great.

No skin in the game, but didn't know a company could do this. Ouch.

I have a habit of checking the WSJ and Bloomberg. Perhaps I'm more aware or perhaps it's getting more trashy over time but it's just a dumb echo chamber. Constant articles disparaging everything Musk touches because he is media enemy number 1 owning X (he may have made himself easy to not like, but the guys done some awesome stuff for society). Barely any articles are worth opening and are just regurgitations of what someone else said. It's like sell side just chirping management expectations as analysis. Recession incoming! Let's take every company that has a layoff and make it front page and ignore all the hiring taking place at other companies. Inflation going wild! And then Bloomberg is the same articles with a different title.

Thank you for the response. Have you had it as a thesis in the past where you ended up being wrong? If so what were reasons?

I'm curious if anyone here has any experience in handicapping the odds of a company being sold. One of the companies I own has quite a few factors that lead me to believe it is going to be sold (controlling owner who passed away, CEO at or over retirement age, CEO recently followed a newsletter on LinkedIn devoted to selling companies), but I'm not sure if I should let something like that creep into my thoughts around owning shares in the company. Trying to keep the question somewhat broad here.

I don't know how they could have had a better day. Maybe no panels fall off or all rockets work, but awesome stuff. Very inspiring.

Outside of Banks and Insurance, is there ever a useful time to look at the Statement of Comprehensive Income? I almost always skip it, and just wondering if anyone has found any use to it.

Amazon has done it several times, but that's a very different animal. Apple in 2021. Google in 2021.

Has there ever been a manufacturing company in history (or any company) that added $60B of revenues in a single year? I'm just curious because that is wild, don't really care about the stock.

I don't have any skin in this game but man am I cheering for Fairfax to put on a short squeeze. Good luck! Diamond Hands!

I read it, very fun read. I haven't read the other bitcoin book out there from what I understand makes FTX looks very bad. The Lewis portrayal makes it looks like the dumbest fraud in history. Enormous value and incentives aligned to FTX and not much value to Alameda and they let Alameda blow up FTX. It just seemed dumb and unnecessary.

Gotta pull out Twain here "History doesn't repeat itself, but it often rhymes”. I get it, it's got a lot of stuff going for it, presenting both sides of the coin. Also for you quote snobs, its not certain Twain actually said this.

I can see the pros and cons of bitcoin. Cons are it could be the next Tulipomania. Pros are its supply is fixed, decentralized, governments destroy their currencies, and if this continues to survive it could be a currency that is used in everyday transactions worldwide. I don't really lean either way, but I do think that even if it is a giant ponzi scheme its somewhat interesting that a lot of people are about to get invited to the ponzi party. Supply is essentially fixed, and demand might go up a bunch as it becomes much less of a hassle to throw a few sheckles at BTC. I don't directly own any but am participating through a position in FRMO.

https://www.aljazeera.com/news/2023/12/27/analysis-in-the-red-sea-the-us-has-no-good-options-against-the-houthis

It's always nice to know why something is falling. Do any of you have a good framework for knowing when tax loss harvesting is driving down a share price (other than its near year end and the stock is down on the year)?

https://dcs.megaphone.fm/CLS7328362599.mp3?key=b0b0433f893f6ae8ab6d13100e55a786&request_event_id=e1869b0d-8ab2-4455-82e8-6f7c17973372&source=3 Interview from last year just released. Funny stuff about transdigm. He’s in his prime here

One of my worst areas of investing has to be building a position. I mainly deal in the micro space and can move prices with small orders. Does anyone have any recommendations of things to read to help in this area? Is it worth just finding a full service broker and letting them deal with it?

I'd say the opposite, lean into big ideas. You'll learn what works and what doesn't. I learned very early on about leverage and operational issues because I had a big position (at the time) in a company I followed someone else into. If I'd done 30 different small ideas I don't think lessons would've been taken. You can stand to learn at this point without mistakes costing you a lot. Books are good but experience is best.