DooDiligence

https://www.cnbc.com/2018/10/19/mega-millions-jackpot-rises-to-1-billion.html Back on track? ;D I haven't bought a lotto ticket in forever. Yesterday, I made the monthly pilgrimage to the grocery store and saw that this thing was up to almost a billion $'s so I pried two bucks out of my wallet. If I win, I'll flash the CoBF gang sign in the, 6 foot long, check acceptance photo.

Thank you for saying that. I was wondering if my understanding of the mechanisms were right. It kind of puts politicians in a tough position. They scream bloody murder about debt because it rings true with voters but in order to reduce $ supply, you gotta issue debt to remove dollars. Aren't higher taxes & lower spending another set of levers to pull? Doesn't less money get more choosy about where it goes? Short term pain for long term gain.

I love you guys!

Sounds great, where can you spend them?

How optimistic people are depends on how old they are right now. I'm 32, and I think that the chances that medical science advances a lot over the next 50 years is very high. What people miss is that to benefit, we don't have to go from zero to a perfect therapy for the diseases of aging. We just have to do enough to allow you to live long enough for these therapies to be improved enough in the meantime so that by the time you would need them, there are developped. I like your explanation, it's somewhat like the situation with self-driving cars. There's a lot of discussion on how when cars will be truly autonomous and ubiquitous, fatalities numbers would drop dramatically. As it happens, right now, there's already technology using AI and other means installed in various cars which significantly increases safety. It gets better year by year. OK now write on the singularity. https://www.aljazeera.com/indepth/opinion/mohammed-bin-salman-gold-rush-singularity-180522101213108.html

^ ^^ ^^^ ^^^^ ^^^^^ ^^^^^^ This --- I lose no sleep and have other, more immediate, things to worry about...

I should probably sell everything, except BRK, since my head seems to be filled with cognitive biases. A small portfolio of rental homes would be in my wheelhouse but would require more actual work. --- I'm taking a break from Twitter & the 24 hour news cycle for the rest of this month & will concentrate on my circle of competence (music & school) and my sphere of influence (the space that extends slightly beyond the length of my arms.) I'll still peek in here to see if there's any interesting discussions about what I own but, as has been since its creation, the politics section is off limits. --- I've been leaving the cellphone at home a lot & going to study in the afternoons under an umbrella at the beach & am considering expanding this by leaving the phone at home when I go to school. It would stay connected to a wall, just like back in the day (no party line though.) It feels liberating to be out of touch while at the same time being more in touch with what is actually near me.

Finally, we agree on something.

Nice! May I post a paper copy of this on the physical bulletin board in the music department at PSC? Also, may I Tweet it?

Another gigantic AGREE. I've worked in many places such as those you speak of. Two of the worst were Abidjan in Cote d'Ivoire and Takoradi in Ghana. I would watch groups of literally a hundred or more guys, on a dock, hauling large sacks of cocoa off of trucks and then pouring them into a warehouse feeder trench in the 100+ degree sun. I have no idea what they were being paid but I'm sure it wasn't much & they did this ALL DAY LONG. Then they'd walk home to their dirt floor hovels with no windows or doors. I'm particularly disturbed by people who act as if the world owes them a favor, especially when they live in one of the greatest economic zones in the world. Luck plays an important part for all of us. MAGAbedamned

If the Fed ever removes marijuana from schedule 1 listing, company's like Altria might start rolling up the best operators. The best operators will all have one thing in common, ABSOLUTELY NO BOOTLEGGING. There's no need if you're a good grower & have an effective marketing & sales team. The temptation to bootleg is huge & the feds will catch poor operators eventually. I have no interest whatsoever in marijuana stocks unless Altria winds up owning them (after they've done proper due diligence.) Puff, puff, pass...

Agreed, sympathy's in the dictionary between sh!t and syphyllis.

Why do you always type cardboard at the bottom of your posts? When I worked offshore, occasionally I'd have a mate show up with his name & the word CAPTAIN emblazoned on shirts, hats & coffee cups to let everyone know he's not just a mate but he's a CAPTAIN. These guys ALWAYS turned out to be douches. With you it seems like a similar self conscious cry for recognition. Are you not aware that posters are automatically recognized by looking slightly to the left of every post? Maybe if you tried dialing back the douchiness you might develop some friends & consequent success instead of the bitterness & frustration you constantly exhibit.

I did something similar on a first date when I was a freshman in college. Made sense to me because as a college student I didn't have a lot of money. Never got to a second date. I blame it on the coupon and nothing else! Sounds like you may have saved money on more than just the pizza. "I ain't sayin' she a gold digger..."

Depends on what you value most! Best value: I bought a Spiderman comic book in 1978 for $1.25, when I was 9, which I still own today and it's worth about $1,700-1,800...20% compounded over 40 years. I read it only once when I bought it, otherwise it remains in mint condition. Best emotional value: Five dollars I spent in January of 1991 at Army Navy Department Store in downtown Vancouver, when I bought my father a pair of galoshes for his shoes, and then we went and had fries and gravy with some coffee in the basement of Woodward's Department store...it was the last thing I bought for him before he died in April of that year. Best changed my life: Invested $25/month in AIC's Value Fund back in 1994...whose annual report I read in 1998, and which held Berkshire...which led to me reading Buffett's 1998 letter on their website...which led to me joining the Motley Fool's message board in 1998 for free...which led to me buy Berkshire shares in 1999...which led to the MSN Message Board...which led me to Fairfax...which led me to start Corner Market Capital...which led to starting CofBF...which led to taking over PDH...the remainder of the story is unfinished! Cheers! I won't even try to top any of this. Especially the "Best emotional value" - reminds me of my Grandfather & makes me cry.

Nothing. --- I'm fully invested, minus a cash pile which is, and will remain, CASH to cover me until May 2021 +/- which will be a year after graduating PSC's music program. I'll decide then whether to continue towards the BA but as it stands, I think I'll be ready to earn again. As to the portfolio, I'm pretty happy with everything I own & am prepared to wait. [Actually, I do have a tiny bit of cash ($8K) that's not earmarked for school & will prob get wasted on something stoopid like more MO LEAP's.] Basically, I don't feel the need to DO anything with regards to what I own...

Not really, cuz Mr Buffett didn’t want to buy this house initially (ex wife’s idea), and now he would like to sell because it has less utility to him. He is unlikely to be selling due to money reason, i.e he didn’t buy it to make a profit. I was being humorous, at least I though I was! Rest easy, you were ;) Conversely, if he's buying your business, you're leaving $ on the table, but you don't have to deal with activist shareholders or sell side ANALysts any more .

No good deed goes unpunished, right?

https://www.visitpensacola.com/lionfish/

nail + head

Radial Pro48 active direct injection box (not really discretionary unless you want your passive instruments to sound like crap on long cable runs.) https://en.wikipedia.org/wiki/DI_unit

Warren Watch (cool little column,) https://www.omaha.com/money/how-s-warren-buffett-doing-on-twitter/article_556f8125-e6ef-50c9-95f0-00d31174494a.html

Now that's funny ;D

MO Jan 2020 $52.50 Calls at $8 and a tiny bit of CMCSA last Monday.

I think Howard Marks' treatment of "Margin of Safety" is wayyy more important. Makes Klarman's book look amateurish.