orthopa

I have read Intelligent investor twice, enjoyed the second time much more. Still working my way through Security Analysis. I'm determined to finish and will feel guilty if I put it down but as mentioned it is dry.

Nice thought, thanks for the update.

Like others have mentioned I hate buying cars, dread it actually. Last car I drove had 205k miles, was 14 years old and rusted to hell. Wife hated it but got me to where I going. The idea of spending money on something that defeats the entire purpose of why I work my ass off/invest makes me mad. Last car I bought 12 months ago now was used,6 years old, and less then 1% of my net worth. Already has rust on it :o

I know it was touched on before but the legalization of Marijuana I think will be a boon to big tobacco, mostly because of in place advertising ability, convenience for consumers, and in place distribution channels. Here is a copy/paste of one of my comments on another forum. "Interesting discussion regarding the MJ. I have no absolute knowledge but believe all of the branding, advertising (if allowed), distribution is in place for big tobacco to start selling MJ. I would expect a similar roll out to MarkTen. I also don't believe full legalization is that far way (less then 10 years) as 25 states already have some form of relaxed marijuana legislation. In regards to usage I have a couple thoughts. 1. If the "market" price is set by a combination of taxes, profit etc, say the price of regular cigs. Why would the home/private marijuana seller price their product much below market? ie if a pack of marijuana cigs costs $10, why would the private guy sell his product for much below? One would think he would raise his prices and get an instant increase on his margins. Hell may even charge more for a better type of bud, etc. 2. If number 1 becomes true and prices and quality similar my next thought would be convenience. Whats easier, growing your own including WAITING for it to grow initially, buying the equipment to grow it indoors in a cooler climate, drying it, rolling 20 MJ blunts/cigs...or just going to the convenience store and buying a pack and paying a little more? If you just want to party for a weekend or every once in a while are you going to grow your own? Prob not, so whats easier, finding a dealer, rolling your own, etc or just going to the gas station and buying it. My guess is the latter. A corollary would be with packs of cigs at $10.00 a pack why aren't people just rolling their own tobacco cigs? My guess is BC its inconvenient and the handful of dollars saved isnt "worth" it. 3. One would also then think a marijuana e cig would be available with a THC hit whenever one wanted. 4. My guess is once legalized more then anything it will finally open up convenience, (read no more sneaking around) and people will take advantage of it. " Internationally the marijuana legalization wave will take longer BC of all of the different countries involved. International operators such as PM, Japan tobacco, BTI, could benefit eventually. Marijuana is much more tolerated worldwide then I thought before I googled this. http://en.wikipedia.org/wiki/Legality_of_cannabis_by_country#/media/File:World-cannabis-laws.png Take a look at this and tell me Altria does not have this ready to go. ;D http://static.businessinsider.com/image/545f98d9ecad040b2463393c/image.jpg

Always a good read, thanks.

I like to invest in companies that are the sole-source or the best source of a product as well. Spices - MKC Salvage Parts - LKQ High fulfillment auto parts - ORLY Fasteners - FAST This thread will probably end up one of those "companies with a moat" threads... Not to highjack the thread.... Ross812 Im going to take advantage of your suggestion to ask about your holdings. ;) I have been looking at FAST and going to initiate a position this week. Near a 52 week low it seems to offer value relative to other multiples it has traded. The business seems intact and historically has had great ROE/ROIC which I think it can continue as the business grows, are we just seeing a repricing of the business multiple wise in your opinion? If anything the dividend looks pretty attractive as that should increase nicely in the future. Thanks.

Interesting thread.... 34 yo, married no kids in Western New York. 11.5k property taxes 500k assessment 6k mortgage 30 yr 1k home owners insurance 3.5k utilities 1.2k car insurance No car payments 4k groceries 2-3k on vacations ~1.5k on car maintenance? oil changes etc, 4k a year combined on gas expenses. 1.5k a year eating out. 2-3k maybe for clothes/gifts for the year. I'm sure I'm missing some odd stuff that comes and goes but that's the major stuff. We run a pretty tight ship with our income. We are able to invest 2-3 times as much a year as a result. Spent first 2-3 years paying down house significantly then refinanced now rest goes to savings.

Just wanted to formally introduce myself. I've been a lurker for nearly 2 years and learned a great deal. Hopefully I'm able to give back over time more then I have taken. I'm 34 and started managing my own money 5 years ago. I'm a physician assistant working in orthopedic surgery currently in a medical school transition program (thus the handle) but an investor at heart. Looking back I should have gone the business/MBA route but the silver lining is my profession has allowed me reasonable capital to start to compound money. My biggest holdings by far in my portfolio are PM and MO, (then AIG-WT and BAC- WTA in size). Ironic for a healthcare professional but I see the strength of the business everyday and love the economics of the business. Im a value investor at heart but love dividends. My biggest mistake this year was OCN although I thankfully got out with a 15% loss. Best gainer this year has been MO. I look forward to continue learning and adding meaningfully where I can. :)