Orchard

If you want a particularly good deal you would scour a marketplace such as Craigslist when in need of a new used car. Unlike most people you wouldn't anchor yourself to a given brand or model. Instead you would look for what the best deal would be at that particular time. Sometimes people are forced to move and sell their cars quickly and that would be your opportunity.

I would argue that at least partially explains their success. The limited menu allows them to have small locations and the simple business model makes sure that deliveries arrive timely again and again.

While you are using fancy terms to describe this and while you're dreaming up a big business this has been done in the past. You are essentially describing a Domino's Pizza. If you study Domino's success factors it's really speed of delivery. To make that happen it has to operate in a small radius. The moment it becomes big it doesn't work as well anymore.

what are ballpark figures for monthly rent, maintenance fees and property taxes for condos like that?

I bet you can, but most honest people wouldn't do that. Keep in mind though that you're effectively charging back Air BNB. Just because you charge it back doesn't mean that you don't owe money anymore.

keep in mind that Fibrek shareholders are advocating the same thing....dollars first.

Maybe it just means that consumers are lazy while business people are trying to educate themselves.

I miss itsavaluetrap along with BenHacker...

From NY Post:

If you have a margin account it could take some time for you to get your shares if they were to go into bankruptcy.

"the Prophet"

Thanks for your wise and honest input SD.

Just take a look at hotel numbers during a downturn and you'll be cured very quickly. I'd rather own stocks that might go down than have to work an entire year to make no money.

wow that's great. Must be a really nice cabin at $315 per night vs all the other cabins on Air BNB at less than half of that.

how are your loan terms vs a 30yr residential loan?

This is one of the few times when a "finance writer" was picked up in the mainstream press. I think I saw this on USA Today the day it hit.

Of course he won't give a specific answer. It all goes back to the Mozart quote.

There are several reasons to becoming an investor. Two that come to mind: 1) To manage other people's money and earn a fee for doing so 2) To build your own capital base. If you're only interested in 1) then follow all the advice on this thread. If you're only interested in 2) and your current capital base is less than $1M, then you are likely to earn a higher return on your time than on your capital. What does that mean? If you invested all your effort in minimizing all your expenses i.e. finding a great deal for your housing, eliminating any car ownership and cooking your own meals instead of eating out, you will most likely earn a much higher return than you could earn on your current capital base by investing time in figuring out which investments to make. This is particularly true because we are the tail end of a long economic expansion.

Also Bloomberg doesn't have any data on bonds other than TRACE. If you go out and buy a Bloomberg terminal you will not have anything regarding bonds you don't have today. However, if you do get runs from brokers you can have them populate on your Bloomberg and use Bloomberg to look them up which is what people do who are active in the bond market.

The link above is TRACE. TRACE is highly accurate. From what I've seen in the bond market, virtually all transactions post on TRACE. There's certainly no way that i've ever heard of to keep a transaction from posting on TRACE. However, what most people miss who are not active participants in the bond market is that bonds are nowhere near as liquid as stocks. There's plenty of illiquid bonds discussed on this board that trade once a month. Anything high yield is almost by definition illiquid. Now with these bonds, since there are no daily transactions, looking at TRACE will give you no indication as to where the current market is. If you want to know where the current market is you need to get market quotes from a broker. All bulge bracket firms are active in HY so if you are a decent client of theirs they will get you the info. Some smaller players like Cowen, Robert Baird, Imperial etc are also active in that market and can get you the info.

Why exclude BPI? The guy got to $2.3B entirely through investing. Why would you ignore the investment that started it all? Because BPI doesn't have a ticker it doesn't count? Clearly his major coup was getting his first millions not what happened afterwards although Heico and the other investments are still great.

It's the opposite of what John Wooden did at UCLA. You don't want each one of your PMs choosing their best ideas. You want your best PM to have his best picks and your 6th best PM not to get a single pick.

All the highly levered companies I ever invested in eventually expired.

yeah it's really odd that your main readership is on wall street if you call your blog/newsletter Farnam Street.

Matt Levine has a very short take on BRK share buybacks which has an interesting quote: Full take is in the middle of his today's Money Stuff column: https://www.bloomberg.com/opinion/articles/2018-11-05/expensive-stocks-make-for-good-bonds