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dabuff

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Everything posted by dabuff

  1. Cicero thanks for sharing experience. Were you required to obtain a foreign investor ID to set up the brokerage account? Were there any account minimums?
  2. Which brokers have you all used to invest in the stock?
  3. If you invest in a good audiobook subscription, you will be amazed at how much you can read during the crevasses throughout the day (shower, driving, brushing, right before bedtime etc.) It's like compounding - 15 minutes here and there throughout the day adds up tremendously.
  4. William Poorvu's books are great (you will actually be a better stock investor after reading them)- so are Frank Galinelli's is you want more on the financing part.
  5. The analyst questions unfortunately did little to "add color" to the discussion; they were fishing for numbers to plug in to spreadsheets ("beware of geeks bearing formulas") Ditto for some of the journalist questions. Are these really the most important questions we should be discussing? Really? Half the questions were so long-winded the questioners themselves were stumbling over their words. A much better way to do this would be for shareholders themselves to vote for the top questions themselves in some social media polling format.
  6. Met Mr. Kilpatrick in person at the BRK meeting. Such a wonderful gentleman who produced a wonderful book.
  7. Mention was made that Buffett recommended this book at the BRK meeting today.
  8. It would be nice if there were a rule that prohibited questions requiring one to recite from a piece of paper or a cell phone. Warren and Charlie were understandably having difficulty getting some of these long-winded questions.
  9. You have to actually physically request the passes (send snail mail to Berkshire headquarters), and they will mail you up to 4 passes for free. For future reference, their turnaround is about 7-10 days.
  10. Thanks, Jeff - hadn't yet explored Joshua's site but will check it out!
  11. Ever since I started listening to audiobooks during the commute, my perspective on commuting changed drastically. When you get through 2 books a week just sitting in tap and go traffic, you can't help but feel productive.
  12. I realize that on an asset protection front, it is best to deal with lawyers - however, I would like to at least have some background in the area so I at least have some idea of what is being dealt with. the only seemingly good books I've found are the following: Asset Protection : Concepts and Strategies for Protecting Your Wealth - I've read this, but the book is from 2004 The ABA Consumer Guide to Asset Protection: A Step-by-Step Guide to Preserving Wealth On the Tax front - the only coprehensive guides I have really found are JK Lasser's guides though they do not really cater to learning tax efficiency #JohnMalone. What books/websites have you all found useful to learn these two big subjects? Thanks.
  13. Newbie here - how long does it typically take for BRK to process and send back the passes by snail mail? Sending snail mail tmrw, just want to make sure I don't miss out (should I put a tracking no.?)
  14. Article is an important read (especially since Buffett was interviewed for this article). Just goes to show how few investors actually get down to read the nitty-gritty of SEC filings and how easy it can be to gain a competitive advantage by simply reading the same. It also backs up the truth inherent in this quote from Jim Rogers: “The best advice I ever got was on an airplane. It was in my early days on Wall Street. I was flying to Chicago, and I sat next to an older guy. Anyway, I remember him as being an old guy, which means he may have been 40. He told me to read everything. If you get interested in a company and you read the annual report, he said, you will have done more than 98% of the people on Wall Street. And if you read the footnotes in the annual report you will have done more than 100% of the people on Wall Street. I realized right away that if I just literally read a company’s annual report and the notes — or better yet, two or three years of reports — that I would know much more than others. Professional investors used to sort of be dazzled. Everyone seemed to think I was smart. I later realized that I had to do more than just that. I learned that I had to read the annual reports of those I am investing in and their competitors’ annual reports, the trade journals, and everything that I could get my hands on. But I realized that most people don’t bother even doing the basic homework. And if I did even more, I’d be so far ahead that I’d probably be able to find successful investments.”
  15. Great idea - will definitely be on the lookout. At this stage, I will try to learn about real estate for its own sake and seek out someone with more experience if potential deals arise. One other suggestion. Books will be helpful to build a foundation of knowledge, and that is a great place to start. As you progress in your knowledge/learning, I think in the area of real estate, the insight of a mentor will be priceless for you. I happened to work with someone who became somewhat of a mentor to me in real estate. It benefited me because we both had a similar mindset - very conservative - and a similar background - small part-time real estate investor/operator. He pointed out a lot of pitfalls that I would never have picked up from a book (i.e. finding, screening, and dealing with tenants; picking up on bulls**t when evaluating/buying property).
  16. Thank you for your thoughts! Will check out those resources.
  17. Hello all, I have always loved equity investing because with only a computer can participate without even leaving the office. Even if I do not embark on an adventure in real estate investing, I realize it would certainly be of some value to learn about the process (especially as some attractive prospective equity investments hinge on an understanding of real estate). Unfortunately, it seems that there is quite a lot of garbage/scams/fodder to sort through - from my preliminary research, these seem to be the only worthwhile resources I can find. -The books of William Poorvu: The Real Estate Game, Creating and Growing Real Estate Wealth - What Every Real Estate Investor Needs to Know About Cash Flow... And 36 Other Key Financial Measures -This thread: http://www.cornerofberkshireandfairfax.ca/forum/general-discussion/real-estate-investing-general/ Would anyone with more experience be able to recommend books and other resources to learn the art of real estate investing, from novice and above? Is there a real estate investing equivalent of the Intelligent Investor and/or Security Analysis? Thanks!
  18. From Munger's and Buffett's comments and those of other investing veterans, they all echo the sentiments that the SEC filings of today are less useful than those of yesteryear as much of the important information is getting buried among the unimportant. So more and more this is becoming of separating the wheat from the chaff.
  19. WEB wrote in the 2016 shareholder letter "Check out Peter Bevelin’s new book as well. Peter has long been a keen observer of Berkshire." I've read this book (seems to be Bevelin's latest) - but does anyone know if there is newer book coming out?
  20. Using the First Principles Method is how Elon Musk works: http://www.businessinsider.com/elon-musk-first-principles-2015-1
  21. I think one of the most important lines is "When in doubt, avoid." Analogous to Munger saying regarding circle of competence: "To ask the question is to answer it."
  22. What I find interesting is that WEB says that if he were starting out today he would do things the same way as he did back in the 50s/60s - looking for little pockets of value. Though I agree buy and sit on your ass approach is much less work (albeit a more cerebral, qualitative kind of work). The cigar-butt approach is more quantitative, requires more activity, vigilance, and nerves of steel.
  23. One of the greatest ironies of all is that the father of security analysis, Ben Graham advocated simple selection of baskets of stocks by low PE ratios toward the end of his life. (This was the inspiration for Greenblatt's Magic Formula). Talk about an about-face. Alas, we would do well to remember what Pascal said - "All men's miseries derive from not being able to sit in a quiet room alone."
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