Gregmal

Well how many of you guys have Nintendo weighted north of 20%? Like I said in another thread, if it’s a 5% position, then yea what’s the point in trimming? But at larger levels sometimes it’s just about managing the size.

Didn't know that but he's a quality contributor. Anyway, as I said when this stupid thread started, its a sham war, a waste of time, a nothing burger for my investments and only an opportunity if people overreact and think this is a big deal. Lo and behold however long later, we've pissed away all this money, people got their rocks off talking war theory, sharing cherry picking clips of "Russia getting pwned!!!!" and playing Stratego....and virtually nothing else relevant emerged. Oh yea, and we wasted a shit ton of taxpayer resources catering to propaganda....basically a low budget HBO drama....so Im done here.

Trimmed about 20% of NTDOY. Just managing the size. Still a pig on the name.

Maybe I missed what Dinar wrote, and perhaps its warranted, but now we're at 2 guys from one side, and 0 from the other.......

What have we gotten in return for the billions we sent Mr comedian the last 3 years? Anyone ever find it ironic that despite the news snippets about how much Russia was getting "annihilated" that the cash spigot never got shut off? Seemed more like a rope-a-dope strategy that apparently worked.

That is what’s scary. The lying is so rampant and the media is the biggest problem. People don’t know what to believe anymore and have few real resources for getting to the truth. Remember the endless propaganda about how Ukraine was “winning” this war and “wrecking” Russia? All designed to just keep the money train going.

Yea it’s crazy how many people advocated for giving this clown endless blank checks.

Yup, sports is the key to a lot of wallets and has long term durability. Wealthy folks have been on to this for a while, meanwhile Wall Street goes "durrrp, where's the cashflow? Ugh its just too hard to value"... We put kids into sports for social purposes when they're young and they can play them through various stages of life. They watch them and buy merchandise, tickets, etc...and advertisers know its live so they pay top dollar for those eyeballs. Brands associate with teams to be seen. Athletes then promote products which has circular dynamics to it. Video games let us keep playing when we can't anymore, or let us be the superstar we'll never be in real life. Where else can an 11 year old win NBA MVP honors? All the similar product placement can be mimicked virtually as well. Bigger than all of this, is that it's an escape for people. Real world meets virtual.

Oh, now we’re figuring out CPI is a crock of shit and the economy is fucked for lower and middle class after Jpow “saved” us with those rate hikes? Lmfao

To a degree it probably is also a position sizing thing. I’m more prone to sell puts if I want more exposure but am willing to be patient on price. I’ve never really considered selling calls cuz it just seems like a waste of time. I could potentially see appeal with a large concentration. Conversely I’ve never understood the need to micro manage or obsessively scrutinize a sub 10% position. Like if it’s a sell on a 10-20% move why even own it?

Elon Musk has probably made more money for shareholders in his ventures than anyone on Earth. That by itself, buys quite a bit of credibility. Somebody whom was skeptical of him doing so along the way still being skeptical isn't going to change that.

Nah that’s totally doable if you’re willing to sell them. Use some value investing instinct and find mispriced options and then just play in that sandbox. One of the best I’ve done was CLF coming out of Covid where you could grab $1-2 per share every 2-3 weeks selling OTM puts. MSGE last couple years has been great too. Sure there’s plenty of other securities where this happens too.

The whole point is areas of excess taxation don’t really have a right to complain about taxation. I’m from one, and the “take just cause you can” mentality only goes so far. Eventually people wisen up. NJ had to deal with this and is still trying to, as a result of the SALT cap. A government that lives on taxation needs to look in the mirror to fix the problem, rather than complain about someone else copying their playbook.

Running a fund, especially one available to retail punters, is a business. The manager has no obligation to say no to new money and I don’t get what they’d get out of attempting to guess tops and bottoms on both the market and appropriate AUMs. At some level it’s the investors problem. The difference is Pabrai has shown poor judgment with investments for basically the last 20 years give or take a couple exceptions, and he is horribly misleading the way he promotes himself. These are two totally different issues.

I don’t think it’s necessarily the fault of the manager if early returns skew the numbers. Having been in the biz a bit, frankly it’s not the managers fault that investors didn’t want to invest in the beginning and then chose to later on….however, you can clearly judge one’s long term track record and individual body of work, which is really where I have the issue with Pabrai.

Not really. He beautifully networked himself into a Rolodex of future marketing material, and people bought it hook, line, and sinker.

Totally. The most common heard disclaimer in the investing universe is “past results do not guarantee future performance”, yet, everyone and their mother live in the past with the ideology. The whole nature of the market is that it’s dynamic and adapts, otherwise there’d be no excess returns. Everything, kinda like those Greenblatt special situations, gets competed away until even the opposite is true. Folks need to worry about looking forward and being more original.

Ok fair enough

Nah, the best of them, typically also the most articulate, can transform every element of that pyramid into a good ole fashioned boot up the ass of the intended tardget!

Nah apparently everything is just too expensive to consider.

Nah, just means that even if you suck you’ve got less than seven years to go.

Yea definitely need to grind down in the homestretch. Basically when a double changes your life you re within reach of owning your time. I’d probably call that $1.5m or so for most. So double meaning $3m NW. Otherwise, if a double doesn’t do shit for you, whether you’re above those goals or below them…settle down and just find a good balance and keep slogging.

Politics is important to markets, especially under a president like Trump where people get really, really emotional and irrational. But having seen it here, I think net/net we re better off without it. Everyone tends to get along better which is not a bad thing.

I think he was trying to make a general point about what he spends on rather than a statement about Rolex watches. Technically yes, Rolex is a poor example because its in the store of value category and has historically been a great place to park money even if you dont care for watches.

I honestly think it would be much more effective to make earnings between $40k-$250k tax free. Above and below that, tax it. Above you don’t need it all and below you need an incentive to work harder cuz it’s not hard to make $40k. Let people at least have a shot at working their way into some prosperity. The current scam system basically keeps everyone middle class stuck.