DooDiligence

Just got back from a long trip. Most of the hotels had the same lineup of channels and most of them were what passes for news in various countries (BBC, DW, NHK, CNA, Aljazeera, more). I've been actively avoiding this kind of content so I'd scroll through (very quickly), and occasionally land on Nickelodeon. Now to my recommendation. This shit is hilarious.

Can't remember who originally posted this but I'm pretty sure it was someone here on CoBF. I really like these rules. #2 is the hardest one to do, but it's pretty valuable if you can avoid anchoring to someone else's price. I'm looking for a fat pitch (aren't we all) for a single long term position, and am trying to stick to these rules. Especially #2. All value investing requires being able to make dispassionate decisions, and a process that minimizes bias. That's why Charlie and Warren recommend reading Cialdini's "Influence" and why Buffett's process includes: Never reading analyst reports. Throws them right in the garbage lest their opinions infect his. This also extends to never using other peoples estimates, and always try to go to source material to make your own. Never checking stock price before estimating intrinsic value. If he finds himself falling in love with a business as he's reading their 10K, he doesn't want to have a target price in the back of his mind as he thinks of a reasonable valuation range for it. Trying to filter out news and current events and focus on what will be true in the long term. I admit I'm unclear how they do this given they admit to reading a lot of newspapers and Warren allegedly keeps CNBC on in the background of his office. But they are big proponents of Graham's Mr Market parable. https://fs.blog/mr-market/

I think one of the best ways is to start reading company threads on here (from beginning to end) and see how members were and are thinking. I'd arbitrarily pick real estate since the products are pretty understandable (even if the machinations of management temas are not necessarily so). The first 20 or so pages of JOE will give you a good perspective across a wide ranging time period. You may spend quite a while reading through the JOE thread, and while you're doing that, bookmark a stopping point and go through the significantly shorter but nonetheless valuable, Equity Commonwealth (EQC) and Preferred Apartment Communities (APTS) threads for a well rounded look at RE. There are other threads RE here. Semper Augustus gives a lot of thought to valuing Berkshire and if you're here and aren't interested in Berkshire, well... There's also been a lot of quality analysis on another board favorite, Fairfax. I'm not a shareholder and can't remember who wrote it, but there's a comprehensive document by a very astute guy (Viking?) to give you a completely different business to learn from. Or just start picking business threads and reading them from the beginning. You'll see a lot of changes in perspectives and valuation guestimates based on what was going on in the past with politics, the overall news cycle and more importantly with stories and filings that were (and are) coming out about each individual business and industry. History is a great teacher and you ignore it to your peril. There is no one magic bullet of a book. Not saying that it's not worth reading them, or that everyone won't have a favorite, but I believe there's nothing that equals all the historical thoughts available on this board. Almost forgot, start with the oldest thread in the books category and work back to present day. Lot's of dusty old forgotten tomes of wisdom.

I saw it on a flight. Looks like it may be available on Hulu and Prime. The behind the scenes battles are fascinating. There sure are a lot of predatory douchebags in C suites. https://www.google.com/search?client=safari&rls=en&q=where+can+I+watch+the+movie+blackberry&ie=UTF-8&oe=UTF-8

This was a fun, behind the scenes, watch.

Somebody probably found a bunch of coke on a boat.

My thoughts exactly. I’m pretty concentrated and don’t want to sell my high conviction positions.

TFW you front run the master on both DPZ (in) and C (out). Now if he'd just buy some Nintendo.

You gotta write the whole username or it could be construed as inflammatory. Nobody wants an enflamed testicle. : )

IDK, maybe when CoBFers start crowing about how value is back in vogue? Probably ought to just start DCAing in now.

I’m pretty concentrated right now (in for the long haul). Debt free with plenty of cash to live. I’m ok sitting on my hands, and would put the rest of my investable cash into VOO on a big pull back, and call it a day.

“You can’t complain that the market is broken just because you don’t agree with it.” “Maybe this whole indexing thing is a self-reinforcing cycle of the sort Soros talks about. The more active managers underperform, the more investors rush into index funds, and the more investors rush into index funds, the higher the index goes, and the more active investors underperform.” “Of course, this can’t go on forever, but like any big cycle, it is very hard to call the turn. It may take a big bear market to wash out all the passive investors first, and maybe when investing is no longer viewed as the right thing to do, the next cycle will start with active managers outperforming the indices (like Buffett in the 50s). Maybe putting on a pair trade like this is a good hedge against ‘broken’ markets!” Hmmm…

He went from being absolutely terrible to greatness. I doubt we’ll see a similar change in a world leader any time soon.

May 2018 in both taxable and non. Sold taxable position and then repurchased in Nov 2021.

Was just reading about Ashoka in Walpola Rahula's "What the Buddha Taught" (downloadable pdf), and would like to visit the Bihar region (formerly Magadha). His story, the fanciful and the true, has some powerful lessons in it. Go cuttlefish!

I've said it before and I'll say it again. Uncle Warrens parting gift to the faithful will be Easter eggs. edit: Nothing is permanent.

Same, except I did buy more NVO as lightning (RFK) struck. I'd already been thinking about adding, and the quick rip down made it easy for me. I think politics, especially in the current environment, will present some nice buying opportunities for long term holds. Other than that, not a trader so I'ma just let things be.

Just saw this and deleted my last. Probably need a 30 day ban anyway. It's really hard to fill your heart with love on this timeline. Kind of gotta bury your head in the sand. I'ma bury my toes in the sand and see if that works.

Left wing rag? Murdoch's spent a ton of capital training you alt-righties, and given enough time I'll bet he could flip your head any direction he wants. https://www.the-independent.com/news/world/americas/us-politics/trump-rupert-murdoch-wall-street-journal-b2691504.html

Speaking of money laundering... https://www.motherjones.com/2020-elections/2020/09/trump-files-fred-trump-funneled-cash-donald-using-casino-chips/

Nah, he's got plenty of hidden cash flow from laundering money for russian mobsters.

Won't be the first time this malignant clown has run a business into the ground.

This thread's a delusional embarrassment. Nazi on motherfuckers.

Won't be the first time this guy's run a business into the ground.

I've used Google Notebook LM to feed in AR's and get summaries. Not sure how many acres of rain forest I destroy with each summary but... https://notebooklm.google.com