EricSchleien

-8.94%

1. Bought more Brookfield Asset Management 2. Bought more Trupanion 3. Bought more of my largest position which is very thinly traded and they are buying back their own stock (I was 100% of the trading volume for the day) 4. Bought more Berkshire Hathaway 5. Bought Goldman Sachs 6. Bought more Fiat 7. Bought more Facebook 8. Bought more Amazon

Good question. Clearly, that's personal to each guest but here are some of the possible things they get out of it: 1. It's fun 2. Way to talk about something they are passionate about and have a platform for it (another avenue to be engaged in the value investing community) 3. Way to contribute to others and make a difference with the listeners via education 4. An avenue to market yourself to those already interested in what you do but have never head of you (literally get to market, with permission, to your tribe)

Hey thank you!

As some of you know, I host The Intelligent Investing Podcast: https://itunes.apple.com/us/podcast/the-intelligent-investing-podcast/id1205082419?mt=2 I'm currently looking to book some new guests and crowdsourcing ideas. Who do you think would be interesting to interview on the show? Anybody on here on CoBF that you think is interesting? Anybody that you know that you could connect me to? The show currently has 55k downloads and each show (as of now) gets about 1,000 downloads within the first week. Suggestions?

Frommi - It's important to know what you're good at and capitalize on it. Majority of my holdings for myself and clients (approximate percentage) 20% - Self-Storage Business 15% - Liberty SiriusXM Group 15% - Brookfield Asset Management (Non-IRA) / Partners Value Investments LP (IRA Accounts) 7% - GCI Liberty 5% - Trupanion 5% - Discovery 5% - Facebook 5% - Amazon 5% - Fiat 5% - Markel 1.) These are 100% of my life savings, its an irreplaceable asset base. 2.) I make mistakes, a lot of mistakes. 3.) With 10% annual returns, i can live a comfortable life. Why risk what i have for something i don`t need? 4.) For 99% of people in the world my portfolio is already very concentrated. 5.) I did a lot of tests with different ranking criteria on my watchlist and the Top15 portfolios always came out as having the best returns. I don`t know why that is, but that is the reason my maximum position size is 6.6% (1/15). There was only one ranking that was better and that was past 4 week return, Top5 was best there, but Top3 was a lot worse, so i don`t trust it. And now the most important aspect: Handpicking stocks out of my ranking ALWAYS performed worse. My conclusion: I am a bad stockpicker, but i know how to create portfolios that outperform.

Added to Trupanion (TRUP) Added to Markel (MKL) Added to Facebook (FB)

Maybe you sold your shares to me. I bought more BAM and also bought more TRUP.

I did a very interesting interview with one of the founders of the 1517 Fund recently which was an idea that came out of Peter Thiel's program to pay students 100k not to go to college and start a business instead. Made for a very fascinating interview. https://intelligentinvesting.podbean.com/e/33-danielle-strachman-1517-fund/

And to continue along this analytical line, look at Amazon in the early days, (with the benefit of hindsight, we can see that all the available cash was going into growth) and for years many(including some on this board) claimed it was living on borrowed time, something approaching a fraud even!! It was like Tesla, without the ardent fan base. So remember the rule of tools: if you can not think of three misuses of the tool, in this case valuation tools, you don't understand it. So really, your circle of competence, should enable you to know what is the right tool, i.e. valuation metric for the company/industry involved. I second this!

At the end of the day, the intrinsic value of a business is all the cash flows it will ever produce discounted back to the present. So sure, this has happened. But you have to figure out the metrics that matter and that will be dependant on the company, industry, and potentially given set of circumstances. For instance - to be extreme, you're not going to value Amazon or Google using a Price/Book ratio.

Same! Writing this while on a Trupanion Ride-along today

Hi All, I run the Intelligent Investing Podcast. Looking for ideas/topics that you think would be interesting for a podcast episode. Would be done interview style. Eric

It kind of does. Would any of you be interested in co-hosting the show with me and having him on and asking him tough questions? That could make for a VERY fun show :)

I got an email from someone wanting to be on my podcast (The Intelligent Investing Podcast). At first my initial gut reaction was to say no but I also don't know much about this and wanted to get feedback from others who have more knowledge on this stuff than I do. I can't tell if this is interesting or scammy. This is totally out of my wheelhouse. Here's the email I got. Any thoughts guys? --- I would love to tell you about Matthew Sullivan, he can discuss how he is helping homeowners unlock equity and investors gain the ability to get into a new sector, all thanks to the blockchain! Would that be alright? He is the founder/CEO of quantmRE.com – making real estate assets tradeable on the blockchain so single family homeowners can release the equity that is locked up in their homes without taking on more debt. The quantmRE platform will also enable investors around the world to access the single family owner-occupied sector – a huge asset class that up until now is relatively untapped. In addition, Matthew is co-founder of the $50m Secured Real Estate Income Strategies – a Regulation A+ real estate debt fund launched in September 2017, co-founder of Secured Real Estate Income Fund, and president and founder of Crowdventure.com, a real estate crowdfunding company. Matthew is a serial entrepreneur, author of ‘Head First – a roadmap for entrepreneurs’ and host of the Hooked On Startups podcast and YouTube channel. He worked with Richard Branson’s Corporate Finance Team in the Virgin Group for five years and was a director and trustee of Virgin’s London Air Ambulance. Matthew went to Westminster School in London, UK and studied Law at Birmingham University before pursuing a career in finance and stockbroking, specializing in the South East Asian markets. In 1997 he founded Europe’s first internet billing application service provider. Since then he has founded and led companies in the United Kingdom, India, Australia and the United States in the finance, telecommunications, technology and real estate sectors.

How emotionally immature someone is/dead at the wheel so to speak. The more one gets threatened by conversations around possibility OR the more feeds into survival and scarcity conversations. It becomes a self-selecting mechanism in creating incredibly powerful environments as people stuck in scarcity simply weed themselves out. Falls under the principle: "set the conditions, see who shows up to the party". In this case, create a conversation and see who engages and see who gets threatened and walks away. Simple.

Hey All. Some of you are listeners to my podcast: The Intelligent Investing Podcast. Would any of you guys be willing to give a rating + review on iTunes for my podcast? https://itunes.apple.com/us/podcast/the-intelligent-investing-podcast/id1205082419?mt=2 Would really mean a lot to me. Best, Eric (Og)

Enjoy! https://intelligentinvesting.podbean.com/e/interview-with-whitney-tilson/

https://intelligentinvesting.podbean.com/e/nonamestocks-interview-with-dan-schum/

IB can handle business accounts that aren't 401ks. It's pretty easy to set up. Two of the accounts I manage under the IB Platform are business accounts - neither of them are 401k. Also if you aren't dealing with huge sums of money and are looking for short-term stuff, I'd recommend doing arbitrage. The yield will be higher than most bonds. I actually just opened up an account for a new client this week that's solely focused on arb as a means to have a liquid vehicle that can compound at higher returns than bonds or a savings account. I'd look into it.

That's your prerogative. There are lots of people that do things where they have an edge. Nothing nefarious or illegal about it. Sorry if that's how I was making it come off. For instance - look at a guy like Dan Loeb. He clearly has an edge with some of the stuff he buys based off a shit ton of research on publicly traded debt securities. Yes, he has analysts but if he was just a one-man shop, I'm sure he'd still be doing a lot of that shit. There's a ton of different kinds of securities out there. If you're small there's lots of fun shit you can do to make money that is just too small or too illiquid for larger funds to do. Even as Buffett said, if you're managing small amounts of capital you can take advantage of buying small private companies at super low multiples or buying super illiquid debt that's mispriced.

It was awesome, thank you!

There is value depending on who you work for. I can tell you I’ve seen some one man shops do some insanely amazing things that don’t even seem possible who worked for a “legend”. Unfortunately I am sworn to secrecy via contract to go into any more detail than that. But all I will say there are methods used that even the vast majority of the value investing community doesn’t know about to get a real edge.

Direct Link: https://intelligentinvesting.podbean.com/e/is-tesla-a-fraud/ Also available on iTunes: https://itunes.apple.com/us/podcast/the-intelligent-investing-podcast/id1205082419?mt=2

Purchased 110,00 shares of HAUP. 1 million dollar market cap. Got the idea from NoNameStocks.com