Gregmal

Yea I did notice a few weeks ago this weird glitch at the height of the lockout where everyones username was displaying their real names. Lotta Indians here LOL

Pullbacks and corrections are devastating. What can I say?

All I know is that the people who fixated on bonds have nothing to show for their efforts the past few years, and I'll gander it continues to be a total waste of time fixating on this space.

You travel a lot for work no? That would explain the different addresses

Yea this is so true and really the hardest thing I see for most market participants is truly internalizing business ownership through equity. With small potatoes people just see daily quotes and play the up or down game. You ultimately just wanna find a suitable home for your money. Identifying characteristics of good places is a crucial aspect of the pattern recognition necessary for successful investment. You look at all the greats, from Buffett to Ackman, and everyone else, theres common threads between all their home runs.

I remember when they told us Trump was unfit for office and then proceeded to lie to us for 3+ years about the mental state of his vegetable replacement. Imagine Biden at a NATO meeting?

Interest rates should be lower and the rest of the world is already headed there. Powell has been a totally lost and confused POS the whole time. He has everything he needs to cut and yet cant seem to do anything so he keeps reverting to this "needs more confidence" copout. We've had like 20+ months of straight declines. No real evidence of continued inflation despite some loudmouthed wailing because for a month or two it wasnt "straight down"...yet, "we need to see more progress" LOL. He has consistently, despite "wanting to see more evidence", ignored the evidence and changed his "metric" to continue perpetuating a story of "persistent and sticky" inflation. He's totally bungled the housing related data, over emphasized abstract academic theories like wage/price spirals, and focused on lagging or unrelated data. Cant wait til he's fired.

Yup. How much money do you think this dirtbag made the last few years?

The clownshow continues. Just looks like we upped the "target" 750 points from a year or two ago... https://nypost.com/2024/07/02/business/us-headed-for-a-deep-recession-stocks-could-fall-30-analyst-warns/

What an asshole. He s sucked for an eternity and now just doesn’t want to pay people he can clearly afford to keep. Guess that 4-5% yielding cash wasn’t doing it for him.

Added more deo

FRPH. Dont know what the deal is, but it often has these sorta last minute seizures on triple/quad witching days. Ill take it.

LOL yea been having a few of those moments with people last month or so. "What do you think are good AI investments?"..."how come we dont own NVDA?"..."do you think we should look at some tech stocks"....and its so pleasing to just dismissively answer....No, nope, nothing, not interested, thanks!

Explains why he was always desperately trying to move stocks on Twitter and TV. But this is WS. He clearly prioritized the “business benefits” of having a unique product, even if it sucked, versus actually just trying to make money.

LOL #respectabletrackrecord

I heard all you need to do is follow the science and wear a mask!

Yes, and a good one. Showing how humans inhabited the Americas 30,000 years ago, despite the “scientists” telling us it was only 15,000 years ago because half of America was covered in ice.

Not a big tv guy but watched Ice Age America, which was very good. Also made me really what a hoax so much of this climate change stuff is. Earth has been going through these shifts, hot and cold phases etc, for millions of years lol. Leave it to humans to monetize it though.

All week I was reading this sensationalism from all the usual outlets about how Wednesday was quite possibly "one of the most important trading days of the year". How everything hinged on CPI and Fed. Not seeing any relevance to either I decided to spend the trading day....taking my daughter to the zoo. I just got back, and whew, it doesnt look like my life changed despite missing these super duper important events.

Reminds me of during the 2021 boom when there were screenshots of people ripping Robinhood for their orders not getting filled...on Saturdays.

Yea from several different angles that interview is informative. I’ve said it so many times that people always ask me about Bruce and accessibility during the AGM. And they think I’m kidding when I’m like yea just go talk to him. Or wait for him to come say what’s up and introduce himself. Guy is a people’s champ. He’s totally checked out from the institutional game. And yes, as John noticed, it’s bizarre but he’s so friggin humble. Someone asked him about his success with banks in the early 90s and he was just like “ya know, I still don’t know whether or not I just got lucky”. Compare that to the answer someone like Ackman would give, or heck even Buffett whom seems to have some swagger talking about how obvious his ideas seemed to him at the time, and it’s impressive. I wish he’d fix the Fairholme situation because it’s clearly putting a bit of a lid on JOEs stock price, but at the same time it’s hard not to admire how he’s doing things on his own terms and even with keeping Fairholme going, seems to be doing it for the right reasons, ie “for those that want to be with me”. He s a unique guy for sure.

This is actually a tremendously honest and overall amazing interview with Bruce on the subject. I watched it when it came out originally but after talking with him and some of his friends and even his wife at the St Joe meeting really appreciated rewatching recently. Just a lot of wisdom both in relation to investing and life.

Early on I was very active, hyper active trading, and with ease could do 30%+ a year “trading” and speculating. Eventually though I got to a point where I didn’t need to live and breathe a terminal or SEC filing. And that’s just the issue. Doing this short term shit has soooo many hurdles and that’s why 90% of people who do it, suck at it, and 98% who do it, can’t beat an index. And on top of that, it’s incredibly time consuming, you need to be plugged in 24/7 and at least 6 days a week. Because the trades that you need to be putting on are constantly evolving. The only framework you have is largely gut feeling based. Instinct. All things that are useless if you aren’t plugged in. After that then you run into the fact that even if you’re doing it reasonably well, you’re giving back 40-55% of your profits bc of short term trading tax rates. So when you add it all up, to me, it’s so evident that risk/reward x quality of life factor, there’s only really one way to invest. And it’s not this short term macro guessing bullshit.

Yea in a way that’s why for most just owning the index is fine. Things eb and flow. There’s cycles. Every year we hear whining about “all the returns only came from xyz” and it’s like, well, that’s the point of indexing. Similar to how energy killed it in 2022 after years of sucking while FANG got pummeled. Then next year FANG comes back. This year it takes a breather and it’s something else. It’s funny how this stuff drives people crazy cuz it’s simply doing what it’s supposed to.

He'll get investigated and banned from trading platforms but Andrew Left goes on CNBC to do the EXACT same thing, just in a more polished and slimy institutional speak way.