DooDiligence

I'm up 30ish percent in both taxable and non. Some of what I own rallied after being down at the start of 2023 and I had a few recent dumb luck picks (GOOGL and a quick ride up on SMH). Intel has rallied and I sold everything in non-taxable last week for a small gain and started rolling the proceeds into Hershey. I think Hershey will continue selling a crap-ton of chocolate and savory crunch snacks. I like that they acknowledge defeat outside of the USA and haven't tried to buy their way into foreign markets. I've made nice gains with NVO on the Ozempic hype and think Hershey could be a winner if they are not affected by widespread US societal dietary changes over the long term. This is an iconic American candy manufacturer with roughly 2 week product development times and the ability to chocolatize anything and slap the Hershey name on it. That's a lot easier to understand than Intel and I'll sell all of what I own in taxable in 2024 and likely roll the proceeds into HSY. https://techandmedialaw.com/hershey-trademarks-a-symbol-of-love/#:~:text=The Hershey's Kisses® packaging,words%2C logos%2C and design.

the Squishmallow Wars

Glazed Doughnuts and Gumbo Key The Hole Story How Krispy Kreme became the hottest brand in America McAleer put on 3 Gumbo Key music festivals and I hit them all. Gumbo Key Festival: A Victim of its own Success

Nice. That guy is a monster touring machine. Are you seeing him live?

Audiotape Appears to Prove Trump Capable of Reading

I hope Warren was with him when he passed and that it was peaceful. Last words from Charlie?

A sad day. RIP to the GOAT It takes character to sit with all that cash and to do nothing. I didn't get to the top where I am by going after mediocre opportunities. If you keep learning all the time you have a huge advantage. People calculate too much and think too little. A majority of life's errors are caused by forgetting what one is really trying to do.\ Knowing what you don't know is more useful than being brilliant. It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be intelligent. Another thing I think should be avoided is extremely intense ideology because it cabbages up one's mind...when you're young it's easy to drift into royalties and when you announce that you're a loyal member...and you're gradually ruining your mind. People should take away less than they're worth when they are favored by life...I would argue that when you rise high enough in American Business you've got a moral duty to be underpaid No man is fit to hold office who isn't perfectly willing to leave it at any time... We recognized early on that smart people do very dumb things, and we wanted to know why and who, so that we could avoid them. We have three baskets for investing: yes, no, and too tough to understand. Live within your income and save so you can invest. Learn what you need to learn. It's waiting that helps you as an investor and a lot of people just can't stand to wait. If you didn't get the deferred -gratification gene, you've got to work very hard to overcome that. A great business at a fair price is superior to a fair business at a great price. The big money is not in buying or selling, but in the waiting. A lot of people with high IQs are terrible investors because they've got terrible temperaments. We're not interested in taking a substantial chance of taking a lot of very decent people back to 'Go' so we can have one more zero on our net worth. The liabilities are always 100 percent good. It's the assets you have to worry about. Mimicking the herd invites regression to the mean. Everywhere there is a large commission, there is a high probability of a rip-off. You must force yourself to consider opposing arguments. Especially when they challenge your best-loved ideas. No wise pilot, no matter how great his talent and experience, fails to use a checklist. If something is too hard, we move on to something else. What could be more simpler than that? The best armor of old age is a well-spent life perfecting it. There is no way you can live an adequate life without making mistakes. Invert, always invert: Turn a situation or problem upside down. Look at it backward.

Nice suggestion, thanks. Here's a quick breakdown by one of our own. Makes a nice refresher. From the title, I thought this was going to be a Howard Marksish, "How to Avoid Reverse 100 Baggers". It kind of is. https://www.amazon.com/100-Stock-Market-Distinguished-Opportunities/dp/1626540292

GOOGL pre-split and then sub-$100 was a gift.

Apple produces 500,000 iPhones a day. I made a dozen burgers for a recent cookout, and can't imagine milling out 500k iPhone cases every day, let alone orchestrating all the other components into assembly, and channeling it all through to point(s) of sale. It's amazing that they consistently run it all on a razor thin 10-12 days inventory (I think that figure is correct). edit: I'm surprised Nintendo hasn't popped up in Omaha. They possess similar Appleish features. Let's take up a collection and buy Warren a Switch. I'll contribute a dub.

I recommend Frederik Pohl's Midas Plague for a sarcastic view of a workless world.

Coin collecting can be a good kid starter. Numismatics covers art, history, finance and politics. My Grandfather got me started on Mercury dimes, Buffalo nickels and Morgan dollars, and when I got my first offshore job I started adding St. Gaudens $20 gold and Liberty $5's (EF and up, no special dates), for what now looks like just a slight premium above scrap, plus a numismatic kicker for better dates. I particularly like the Liberty $5's for their association with racketeer nickels, which were clad in gold and passed off as a $5 back in the day. At the time I was working for Petrol Marine as the Hunt Brothers spent gushers of cash doing deepwater pioneering work in the Gulf of Mexico (Green Canyon). Gold was up to $800 (thanks in part to the Hunt bros). Also, if you're an MLS fan, you can thank Lamar Hunt. As an investment, gold has appreciated a lot more than silver (duh). Mercury dimes have gone to sleep for the past 15 years except for the 1916D, 1921D and 1942/41 overdate, plus a few other semi key dates. Same story for Buffalo nickel values. A patient buyer can snipe key dates on FeeBay at reasonable prices. Get a kid a starter album for $200 +/- (partial set) and show them how to fill it up (teach them how to snipe online auctions ) If they show interest then they might upgrade the collection over the years and wind up saving and investing in equities => requires more involved sniping skills. I have an album of Mercury dimes that I've upgraded over the years to EF/MS condition (plus a counterfeit 1916D from my Grandfather) and no 1942/41 ( I'm still looking for a good one < $500 ). I'm also still working on filling a higher grade Buffalo nickel album. My favorites though, are a set of Carson City silver dollars from an old GSA hoard. I like these because they were mined and minted in the same town. They come slabbed in lucite with a cardboard box and a bicentennial blurb from Tricky Dick. One of mine is an MS+ 1880/79 VAM6 overdate. I also have a lot of P,S,D and O's (New Orleans) all in uncirculated condition. I inherited some of these when my Mom passed and I'll never sell them. When I retired I sold some of the lower grade, higher mintage gold dates to finance my video, lighting and sound gear habit. Coins are a gateway drug for investing. I believe it's easier to hook a kid than it is to try and change an adult who's already wearing a will work for food sign (literally or figuratively).

palavra! Here's an interesting historical perspective. Japan’s Investment Success in Brazil: Economic Savvy or Rooted in History? "In the last few years, Japanese involvement in Brazil has taken a business turn. Beermaker Kirin’s recent takeover of Brazilian brewing company Schincariol exemplifies Japan’s commercial capability and influence in Brazil. Kirin spent $2.6 billion to become the majority shareholder of Schincariol, which brought in $1.8 billion in revenue in 2010. It is Brazil’s second-largest beer producer, behind AmBev, which became the world’s largest brewer when it merged with Anheuser-Busch in 2008. With a strong yen for funding acquisitions and a shrinking Japanese beer market, Kirin is doing exactly the same as many other foreign companies: partnering, doing business, and investing in emerging markets, including Brazil’s." and then, Kirin bowing out of Brazil beer market I just took some funds that are earmarked for deck and dock improvements and bought a little AmBev. I'm hoping to sell the shares next year and use a little better materials for my backyard project. This is the 3rd time I've owned ABEV and am prepared to hold longer if I have to. Octoberfest in Blumenau. Carnival is coming up. Beer, opa!

May have already been mentioned here but the first season of this was pretty good. It's definitely R rated and don't watch it if you don't like boobs.

Conn Iggulden wrote an excellent factual/fictional (Micheneresque) accounting of Mongol conquests. Conn Iggulden : Genghis Conquerer Series When you saw the black flag you knew you were f*ck3d.

I ran PSV's, OSRV's and AHTV's in support of oil and gas in various locations. The last company I worked for was Chouest in W. Africa and Brasil (loved it) and when oil crashed I went back to the Gulf of Mexico (hated it). I'm retired now. I never worked in the North Sea but am familiar with the weather conditions and have great admiration for anyone who can endure it.

Another (former O & G) mariner here! Everyone's getting into the action with offshore wind. http://www.chouest.com/press/windfarm-service-operation-vessel.html

Stop it. You're gonna make me buy more.

Some good (and some bad) AI generated art. https://www.elektronauts.com/t/ai-generated-art/175830/1011

Shittybank's been no schlacker on buybacks.

All my old heroes are dropping like flies. I saw Gary Wright with Peter Frampton back in the 70's. RIP

Here's to hoping McLane is getting a big slice of their business.

Probably doesn't belong here but I thought this might interest some. Aldi says it will buy 400 Winn-Dixie, Harveys groceries across the southern U.S.