spartansaver

Good luck tomorrow, should be interesting.

Would this be a decent opportunity to purchase calls rather than the actual debt or equity? You mentioned it will likely be known within the next two quarters why not purchase some Jan 16 calls, just lazily looked at yahoo finance and they are going for around 1.25 for a 10$ strike. Just throwing the idea out there, haven't followed blackberry at all.

I see both sides to this case, yes a person should be able to do whatever they want. At the same time, should a kid who is decent at using a computer be allowed to purchase drugs online in the most accessible way possible. I don't know really how The Silk Road worked, but from the very small amount I've read, that's what I've gathered. Also I'm of the group that not every single person should be allowed a gun and there should be regulation in place. I'm part of a family that is very pro gun, but I don't think that ex cons or the mentally unstable should be allowed them. I know there are already black markets for these products, but the accessibility of being able to click and buy seems much too convenient. I see the good in government even if I don't agree with everything in place. Hopefully this doesn't get too far off topic with the gun comments being made, but from what I read there was a black market on the Silk Road for more than just drugs.

1. It sounds like if they have a 7.5% position that would confirm the idea even more in your mind that it is a great investment. This would be counter-intuitive to protecting yourself from the bias. 2. Not to nitpick, but this also sounds like you are immediately justifying that it is a better investment because it has gone down since the original position. I know events can happen in that grey period, but taking that factor out it, still seems like a highly biased situation.

Cloning is nothing new although it has a great poster child in Pabrai bringing it to the forefront of a lot of investment research lately. I was wondering though, how do you separate yourself from the bias of an investment idea from a professional such as him. If I am looking for an investment in Buffet's filings, I will automatically think it is a good idea even as I am researching it. How do you personally protect yourself from those biases? Is understanding that the bias is there enough, or for some is completely eliminating that bias by not cloning your own defense?

I don't think the article addressed it's title of why you shouldn't invest in a business even a fool can run, it more gave a few examples of when management may make an average business good or great. Geico was a great business hidden by horrible management and in that case bringing in the right CEO was required.

Well from that chart it would have been obvious that a cup and handle was forming :) , but in all seriousness there will always be rewards and drawbacks to any constraint. It's figuring out if that reward is greater than the risk of missing a TLM takeover. I didn't follow it all, but if you were initiating a position it looks like you had ample opportunity in the two weeks leading up to the takeover to make a pretty profit. You could also put in a limit buy although I don't personally do that kind of thing, bad things can happen.

As Churchill said, 'you shape your houses, and then they shape you'. The recent interview with Guy Spier where he describes his system to be patient is a great example of that. If you know yourself to be impatient, you can create an environment where it's easier to be patient (ie. a room with no electronic devices, don't look at stock prices during the day and only submit orders when markets are closed, move to a calmer city, etc). That is an interesting concept. I read about research done on the link between success and self control. It turns out that more succesful people make sure that they put themselves in a enviroment where self control is easier. They do not necessairily have more self control. Basicly, if you want to lose weight, do not buy cookies and do not go to the supermarket if you are hungry. And do not live across a really good bakery. Makes sense. We dont keep ice cream in the house because a certain someone is known to eat a litre a day - it isn't my wife or kids! Bringing up an old thread, but I remember Spier talking about limiting the number of times looking at stock quotes and for me it has made all the difference. I have constantly in the past looked up stock quotes multiple times a day and in the last two months have gone to limiting myself to only once on Friday. The convergence of the market's idea of value versus my own have been dramatically reduced by this simple mind constraint. If you look at something enough times you will start to believe it's true and I think this is such a simple concept that has for me had a powerful effect.

Awesome, thank you very much

[amazonsearch]The Small Cap Advantage[/amazonsearch] Just wondering if anyone has read it. Trying to justify the 30$ for the Kindle version. Got good reviews on Amazon, but not many.

Looked at this one a few months ago. Another problem other than the lawsuit was the replacement business being highly concentrated on one customer that is only renewing in short term contracts. Top of page 5 of earnings call transcript. http://seekingalpha.com/article/2404505-appliance-recycling-centers-of-americas-arci-ceo-edward-cameron-on-q2-2014-results-earnings-call-transcript?page=5&p=qanda&l=last