Gregmal

Yea I mean my main thing is like yo stop making excuses. Start being accountable to your investors. Klarman and Einhorn and all these guys have enough capital to go activist. Or make bids. To do SOMETHING. Yet they’re lazy and sit on their asses and put up horrible numbers insisting on doing it their way. I don’t think there’s anything admirable about a one dimensional investor. That’s what makes Buffett so amazing. Tepper too. Ackman as well. Look at how they evolve constantly.

It’s far easier to respect and learn from people who earned it. Who build their wealth with their own hard work. You know they put their money where their mouth is. They grew from a base that most normal people can relate to. Rather than a privileged Johnny who’s spent his whole life being silver spooned…went to great school mom and dad paid for, never worked a real job, and often when he s wrong throws temper tantrums or blames everyone else which is the big thing I see over and over again with Klarman. His underperformance is always someone else’s fault.

It’s a show. His general advice is pretty good for what it is. I’ve found few fundamentally better than “there’s always a bull market somewhere”. Met him before too…really nice down to earth guy. But the rest is just tv rubbish and especially his individual stock picks.

Eh I guess my gist is that they’re spoiled brats who have these big egos and shrouds of secrecy, generally don’t like being transparent, and I find it odd people give a shit what they do or say because you can look at the results and see a lot of it doesn’t add up or that they make their money in deals normal people can’t do. There’s rarely anything replicable you can learn from their investment styles(other than being extremely arrogant and entitled) and even less from how they are as people. So when I see these “ooh what did Seth do?” Or “why did monish sell?” “Eihnorn just bought XYZ” stuff it’s like who gives a shit. You have enough evidence to conclude the caliber of investor they are and don’t really need to read another quarterly letter making excuses about excess and the Fed and punch bowls and all that “I’m smarter which is why I underperform” crap.

Assuming HBS stands for…… Harvard Business School…then that’s kind of my point. None of these guys did real work or grinded through shit jobs saving their $100k a year for 5+ years hoping to launch their funds. They never put up with being shit on by bosses while working 12 hours a day. They were just given it.

We hear it all the time from bear oriented funds….why should we care about one year? Especially 15 years ago….

Yea not to mention that none of these guys are transparent at all about how they even made their money to begin with. Most of them were given money from mom and dad or made it doing sleazy shit and really if you never once had to worry about the basic shit 95% of normal folks do, “managing money” is easy. IMO how and when folks get their first mil or two changes everything. The Einhorns of the world who graduated Ivy League and then were given a half mil to play with didn’t earn shit and never had to deal with real adversity. Can’t imagine life was too tough for the Klarmans of the world either.

Yup. Klarman is another clown. “I’m smarter than everyone else and my underperformance is better and more sophisticated than your outperformance so don’t question me and don’t you dare publish my letters”…LOL

Used to own it. Total shame what happened to the company. Literally nothing from the clown report turned out accurate but reputational damage here was massive. Basically pure smash and grab as Cohodes calls it.

Careful. You’ll get kicked off Twitter for talking like that

Pretty much would be my answer. First set the table with family and friends for one final blowout….then go balls to the wall long on margin with options that won’t ever get settled at the very last minute. It’s either all over and nothing you did matters or if not, you make a fortune.

After a long stalk and starter in 40s, pulled the trigger on some CPNG calls

Always thought an interesting question to ask folks was what they’d do investment wise if an asteroid was reported to be headed towards earth with almost certain probability of impact.

Bunch more PSTH. Billy tends to make noise in waves. Good placeholder til more interesting opportunity arrives

@Xerxes this style or type of market fear behavior is normal and what hinders people who can’t find a way to overcome it. Whenever real fears are rationally dismantled, I almost always expect to hear “well what about this”….with “this” being some super low, multiple standard deviation type catastrophic event. To which I’m like “ok, we’ll this cycle of worry never ends…do I spend my time repeatedly entertaining stupid what ifs….or do I just go put my time to work making investments”.

Powell says “quite a bit of room to raise rates”… Gregmal: checks rates… hmmmm, from 0? Sounds mathematically accurate. Goes back to being amazed at grown men and sophisticated investors being petrified of 25-50 bps hikes….

It’s even simpler than that. Look at the long term stock market chart. Pick your timeframe. 10/20/50/100 years? No difference Second, every event that the perma bears point to as being something you should be scared of? Is a generational buying opportunity.

Thanks for the clarification. Dont watch much tv. Just heard he was talking again and its like, how many times do we need to hear what this guy is peddling? Him and Faber have been doing their thing since I started investing.

So now Grantham is on TV talking about how things are going to be even more severe than he thought…last week! Some of these guys are such scammers. The more attention you give them the more they seek. Don’t know how anyone can take him seriously. What a fool.

Waiting for a 90 year old dude to die is like waiting for the market to crash, the illusion of it happening tomorrow is real, and then however many years later you realize you wasted your time. Or then it does happen and you’re still paying more than if you had just bought on day one. When Jobs died Apple was down 4-5%. So not much. And at this stage of the game I’d argue Jobs was way more important to Apple than Buffett is to Berkshire in todays form.

So for sure I’ve been one of the biggest inflation is happening mouth pieces for the last 5 quarters or so, but really, isn’t 90% of this really just self inflicted? Housing IMO is different. Low end restaurant and warehouse labor is different. But the end of the day, on the consumer good side, it’s really just a result of there being shortages everywhere. Why is this so terrifying to people? It’s easily solvable. Now I don’t think this gets fixed overnight. Instead of fixing the ports or allowing more oil to be drilled this administration basically just wants to sit around and talk COVID all day. Instead of sending messages on the supply chain, they’re wasting time sending people freakin testing kits LOL…but I don’t get why there’s so much concern. This isn’t an insurmountable problem. The last few polls show 80% of Americans view inflation as their largest concern…when will Snorlax get the message and stop obsessing over a cold? I definitely would have figured heading into mid terms there would be more focus on solving this. IMO once you see these measures we may start seeing deflation. Just something I’m keeping an eye on.

Haha yea IDK lately Ive struggled with the whole thing. As an investor, who cares about volume, which is a stupid trading technical. Valuation matters right? Nonetheless between PCYO and GEOS its like, yea, I'd pay above market so as long as theyre there......then theres YSACW which is just kinda like, OK the SPAC isnt in any sense of the definition a standard SPAC deal. Its really going to come down to execution, with guys who know how to execute. 60c for 5 years on the warrants? Why not. Bidding against yourself? Who cares if the price is right, right?

Your post actually got me thinking a little bit, and maybe a tad embarrassing, I swear I literally never look at or worry about the indexes, but damn, DOW 30 looks pretty awesome in terms of broad diversity to best in class stuff.

Yea it’s an utter beast on the balance sheet side and you have a stupid margin of safety on declines to really back up the truck. Per my convos with Mark I have the utmost confidence that what irks us, ie the “come on already” shouts from the bleachers as far as land acquisitions and buybacks go, is also what protects us. Guy is 1000% committed to being well capitalized and not making mistakes.

At these prices it will be soon. Been a top 5 but took some off mid teens as there’s a clear catalyst gap from phase 1- phase 2. Now we re getting into the heart of phase 2, oil and gas pickup means fracking revenue could blow up, and this transitions real nicely into the commercial phase which is where all the dollars start pouring in. Still early if you’re trying to time the move, but I think at these prices I’m cool with holding dead money for a couple quarters. Just wish the options were more liquid. I’d be shorting 10/12.5 puts all day here.