Paarslaars

"The only thing necessary for the triumph of evil is for good men to do nothing". - Edmund Burke No judgement though, to each his own. I'm honestly not even sure what I would do until I am actually in those circumstances. I'd want more details to estimate life expectancy ^^

Well I believe I just bought the most expensive thing I'll ever buy, yet the value is unlimited: My first child, a baby girl! 8)

Agreed, I have no intention on retiring early but I do plan on reducing my 50h work week gradually towards a 25h work week over the next 10-20 years.

In my country (Belgium) I estimate I need about 600k to be financially independent to maintain my current (not frugal but not lavish) lifestyle while investing conservatively. This assumes a 5% return after tax (so 30k, of which 10k can be saved/reinvested) and my wife still bringing in a least 15k. This is irregardless of age. (side note: gains on stocks are not taxed here, only dividend at 30%) Once I hit retirement (at 67) my pension should be more than enough to cover any living/medical expenses, especially with the added pension fund of my employer, even if I have no savings. I do not intend to work this long full-time though...

Interesting, though I don't agree on the downside protection. That cash will likely get burned throughout the process. I see it: tails this goes to 0, heads you get a 7 bagger. So if the odds of getting heads (ha-ha) is > 1/7, you can expect to make money with these kinds of plays. I might take a nibble at it or wait a while as it will take years before we know if this is going to be a winner, it might get cheaper. :)

BRK is my longest held position, almost 5 years now, made about 100% return on that part. It was at the time a 30% position. Currently still holding (and added at 130$ in the beginning of 2016). It is now a 20% position Excluding that, I have not held a lot of stocks for very long, usually 1-2 years. I would say BAC for 3 years (2012-2015) for a 125% return. Originally also 30% of the portfolio. Did buy in the brexit dip again at 12$ and sold at 17$ in oktober. No longer holding this one.

Really only applies to those that actually do some thinking for their profession. Many manual jobs can already be replaced (to a large extent) by current technology in robotics. I work as an engineer with operators/technicians, most of them just execute work that can be fully automated if investments are made. Hell, if you write the software for it, the robotics already exist to partially replace surgeons. Self driving cars will be here soon enough to take out the taxi/uber drivers. And as we all now, most money managers can be replaced by a small script that will outperform them :)

Is "just $200k" typical for investors here to start with? I started as soon as I had my first 10k saved.

A lot of this is rather recent though, you don't know how it will play out. I noticed some people here have a (bad?) habit of finding great idea's but getting in too early and be forced to average down. The thesis might still play out in their favor but it remains to be seen. For instance, FTP has now tripled since its lows. Those who averaged down, might have some nice returns by now.

I agree with SD though I see nothing wrong with owning more to reduce your risk. No matter how convinced you are of your idea, it's never a sure thing. I remember a few years back people were strongly convinced in FTP, taking large positions around the 22$-16$ range. Same thing more recently with VRX at 200$.

It sounds whiter so it must be good!

Hard is a relative term. What is easy for you can be hard for someone else. I always thought math was easy but until college I was surrounded by people who disagreed. So beating the index can be easy for you but hard for 90% of people, I assume the statement here refers to the average investor. So far you're doing better :)

It simplifies things but if you're going to be spending 1 year per idea, you better make sure you're right :)

I agree with Jurgis though I am wondering how most people with other (non-finance) professions combine their job with value investing? At the moment I'm an R&D engineer at a research center, pretty relaxed job and I have time to do some value investing during work hours. Now I am leaving for a management position in a production company, surely time during working hours will have to be spent otherwise. (On the plus side, MUCH better salary package so more money to invest :) ) On top of that I am expecting my first child in June... still have to figure out where I will find the time.

Sigh, great timing... guess I can average down now.

Started a small position in FNMA.

Sounds familiar, my girl is pregnant so as long as the baby is in there, her vote counts for two... ::)

I really want a newfie but my girlfriend doesn't want to be a fulltime cleaning lady... :( We will rescue as well, her grandfather works in a kennel and will keep an eye out for one that is not too traumatized (should be able to handle young children). I want a big dog, she wants a small dog so... we're getting a small dog.

Gone already :(

Or a great marketer. This. I saw a video where the interviewer asked why he didn't re-release his book and make it available. He said he liked that it was selling at a premium, it showed it's value. Another perspective. I heard someone say if his book was $20 it would be considered a run of the mill investing book not worth seeking out. But since it is so rare and expensive people think it's special. Bottom line, the guy understands marketing better than most. But one can easily get it in electronic form for free :) Was curious about this, took a good 5 minutes though. :)

So this is what happens to investors when patriotism wins over rationality. Being fully honest to your business partners while avoiding to take unnecessary consequences for those opinions is a smart thing to do. But if your opinion is that it is unamerican to be smart, well no objections here ;D

Are you so sure that was a bad move? Buying back in now may be the bad move. We are into one of the longest bull cycles of all time. How much more upside, or how much longer can it go? No one knows of course, but probability says there is a 100% chance of a bear market. In the position you have created which is presumably got lots of cash, I would be inclined to sit and wait, and cherry pick. I am essentially buying nothing right now. I am short term trading around core positions but thats it. Core positions I dont mind getting stuck with. Well would have rather sold it at 23 of course... :) My mistake was selling it because I expected some initial panic after the Trump win where I might be able to buy it cheap again like after the Brexit vote. Clearly I was wrong here... Though you are right, I did get a substantial cash position that has been partially rolled into some E&P positions, the rest I am sitting on as I lack conviction to go balls deep into any current idea.

Depends on how bad the democrat will be. If he/she can get half of the country that did not vote to the booths, I don't think Trump will stand a chance. But for all we know we might get a decent Republican challenging him... I do have questions about his health though, presidency will be hard on a 70y old, especially on the american diet. :)

Well, if prices go up 20% then the US will find those goods somewhere cheaper I guess, so Mexico will be forced to take a cut on those goods or will not be able to sell them at all.

I sold my common right before the election, kicking myself too now but that should teach me not to make macro plays... clearly I don't know what I'm doing.