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Scuttlebutt Plunger

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  1. Manufacturer housing, ELS and SUI, is probably the best sub-sector among REITs. Add NXRT to your list for multi-family apartments. Smaller and more leverage though.
  2. Are there any lists/newsletters that aggregate these announcements? I find that management changes are often a noteworthy catalyst for a company that has historically been mismanaged. Cheers!
  3. Tractor supply - shipping 50 lb bags of feed would be inefficient. Some CPG companies will be immune, though this isn’t reflected in their compressed valuation. AMZN is trying its hand at private label but will fail in certain categories... batteries certainly isn’t one of them. Ordered some AMZN coffee the other day, have yet to try it. I have briefly looked at FDX, given fears of shipping. May be of interest.
  4. Hi - I agree with what the others wrote, you need work samples to validate your thought process and investing style. While the odds are against you, it can be done. You need to differentiate yourself (work sample or samples, cover letter and passion for investing). If you’re sincerely committed, this will not be difficult. Networking is tough and most PMs outside your alumni network aren’t interested in mentoring.. note I said most*** I recently broke in after 5.5 years (I started trying when I started the CFA). Like yourself, I am a CFA charterholder. There were a few other things in my favor, however I secured the gig through the CFA career website (in a very competitive city). Send me a pm if you would like to talk on the phone.
  5. Found this book 'pretty solid.' Jeff is a bright mind - with a very intriguing background. I'd recommend - is a fairly quick/easy read.
  6. If the company is overlevered then debt pay down/management is critical to the thesis. Net debt to ebitda is a common metric - take a look at CYH over the last year. Ignoring the secular industry trends, the big driver of the stock has been managing debt hurdles and selling assets to meet debt obligations. Obviously throw some good quarterly results in there also (until 2Q17).
  7. I'm going to sound like a real jerk here, but oh well. Personally, I thought the book was crap. It was a total rip off of 'thinking, fast and slow.' Some citations were verbatim from Kahnemann's studies. Lewis' book certainly is easy but lacks the depth. Was previously a M Lewis fan. Lost faith.
  8. Hi - it's a long journey. My advise would be to stay flexible (in terms of your geography). Make a list of the skills you need to be a professional investor and pursue jobs and will help to check some of these boxes. Obviously networking is crucial also. I have the charter, which has certainly opened doors, but isn't a golden ticket. Sell side continues to contract and outflows in active are reducing new seats.
  9. Wife and I looked at beds this weekend - looking to upgrade to a king and take advantage of the holiday sales. Mattress Firm will price match and give 10% off, which can be fairly lucrative. Similarly, if there isn't a comparable bed at a competing place, they quoted us ~33% off the initial sticker price. Some of my friends like Casper, but I'm concerned about the durability of the bed. The mattress industry is certainly ripe for disruption.
  10. Years ago, I bought every single one...even the "special bank editions"....I started buying them from the actual company...but I think they were $125 a book. I then wised up and got on the interweb and bought off Ebay. The ones off of Ebay I paid almost $10 a book for! Guess that might have been a good investment? Looks like it paid off bigly. Will scour the internet. Thanks
  11. Hi - struggling to find this book, let alone at a reasonable price. Prices have tettered on margin of safety prices. I get the supply/demand dynamic. Any suggestions for how to procure at a reasonable price
  12. Daniel Kahneman's book, Thinking Fast and Slow, has helped me immensely with cognitive biases and self-awareness. Although difficult, I would argue it will be one of the best books you have ever read.
  13. This podcast was interesting - wonder how many of these opportunities are left. In the event you don't listen to the podcast, a couple had foresight to travel across the country at set up these accounts.
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