hasilp89

From his essay in poor Charlie’s on old age, self learning and keeping at it. With another message in there about who he wanted and was able to be. Cicero, learned man that he was, believed in self-improvement so long as breath lasts. He commends Socrates for learning to play the fiddle late in life and another Roman for mastering Greek when old. Indeed, according to Cicero, the deaths of others that hurt the most are the ones of people you are learning from. And so at one point he has Cato say of Quintus Fabius Maximus: "I was so fond of hearing him speak [that] I ... feared that when he was taken from us, I should never find another [such] man to improve by." And Cicero twice quotes with relish what was often said of Solon, the great man of early Athens: "Daily learning something, he grew old."

May his memory be a blessing. Grateful to have lived in his time.

SMH listen to this at the 29 min mark. The human reciprocation tendency used to get people to invest in his fund. Not that anyone cares what I think but I find it extremely disingenuous and disrespectful to preach Buffett / Munger and then act this way.

Maybe covered elsewhere but why aren't they buying back more stock? Also am i understanding the swap correctly - they basically have the option to purchase 1.9M shares for ~$370/share

So if Meta was a private business and did not trade it would be less volatile? In general risk of permanent capital loss in the equity ownership in a business is not related to the volatility in price at which the pieces of paper trades hands. (the counter examples are ones where leverage or failing business model are present - both of which imply business risk)

@Value_Added thanks for sharing that, very kind of you. I typically search the words with the document selected as 8-k and for the last week. but this is an easy way to one click it.

From a first pass I agree with you. Knowing my temperament I’ll wait a week and see if it still appeals to me. Some things I’m thinking about - how much does that 20% depend on international growth + how different are consumer eating behaviors in the European countries they’re going into - are there any competitors of scale that come close on the innovation or marketing side (Dyson comes to mind for innovation) - seems like they’re wide open on distribution and open to all channels - is this a business where dtc makes sense and higher margins are possible - is there any operating leverage - iirc sga, r&d, and s&m have all grown with revenues

thanks for sharing, i haven't bought much of this stuff historically so wasn't super familiar. if you were shopping for a new toaster oven or another new appliance do you think you'd look to one of their brands first?

@Value_Added I started looking at it a bit. Wasn't particularly interested at first. On the face of it home appliances seem like a commodity, competitive, undifferentiated and cyclical. They market themselves to investors as being hyper focused on new product development and marketing - some of the case studies and their historical growth backs it. While this does seem to differentiate them from some of the sleepier brands i don't have a clear idea on how that lasts / develops over time. In terms of competitors i took a quick look at Hamilton Beach, Lifetime, Helen of Troy - who all seem to be all over the place in terms of brands/products/licenses and not as focused as these guys. The spin off element is interesting but like you say it doesn't seem to have traded off significantly.

this guy had laid it out pretty well. I did not partake but interesting to follow along. He has some good research. https://guastywinds.substack.com/p/short-idea-aurc-us-better-mortgage

Def normal. We started trying for #2 before #1 started tantrums. The only way, otherwise would have prob called it. I’ve spent a lot of time thinking about next phase ‘ it’ll get better.’ I’ve found that isnt a good way for me to live. I’m a neat freak, like order, have my own anxiety issues so the unexpected that pops at the young ages can throw my whole day off. I’ve learnt ways to cope primarily by being present and just enjoying it. I can work a bit harder when they’re 10 and they don’t wanna spend time with me any more. For now just embracing the chaos. and yeah it is good to know that everyone’s in the same boat. There are a bunch of good IG mom accounts that talk about the grind of little ones that put things in perspective for me. back to @stahleyp I think find what works for you. I have a hard time believing the ‘it’s gonna ruin them spiel’, they need love, if you’re tired and grumpy you ain’t gonna be doing that as well.

https://takingcarababies.com Used this for both kids (3 & 1.5). (Reordered and rewatched for the second one). Both started sleeping through the night in < 3 months. Was also helpful when they had regressions.

Know you’re not a fan of X but Bill posts the optimistic picture of the US economy there frequently. https://x.com/wabuffo/status/1692001921987387735?s=46&t=dzMMCHoSPQ2GLoa1fBdN_Q Savings seem fine vs 2019? Doom and gloom make for better headlines though.

these are great @gfp thank you for sharing.

That was actually one of my take aways from the book - there’s no cliff notes to longevity and wellness.

+1

I enjoyed the book as well. Have followed his podcasts/posts on and off over the years. They can be quite technical but appreciated his simplicity in the book. I appreciate his non guru-ness and that he sticks to data and acknowledges the unknowns. the last chapter on mental health was eye opening as well. Put a lot some things in perspective for me. Went back and listened to his podcast with terry real and ordered that book also.

where did you see this. googled around and couldn't fine anything. I may be missing something!

Thank you!

didn't want to start a new topic so posting here as its tangential to above. Anyone have recs for good business newspapers in Canada and the UK?

@kab60 have you ever looked at howdens?

surprises me that folks stick so strongly to this narrative. Seems hypocritical given how man other things that the saudis are involved in that are not under scrutiny. What about the $3b investment in activision. $2b investment in Uber. The list goes on.

I initially felt that same "respect" but then i imagined what i would do PGA: Average Pro is on the road 40 weeks a year to make $1.5M/year LIV: 14 Events a year - significantly more money year. Its easy to turn up a nose at the "take care of family" but when you consider that golf is very hard and that staying good is also very hard and that although you can age better than with most other sports its still very damn hard to keep up, there are also physical injuries and mental issues (henrik stenson). There are no guarantees how long that $1.5m/year goes on. Easy for Rory/Tiger to take high ground, but for most other players it makes a lot of sense. That said it may fall back on them - https://www.si.com/golf/news/jimmy-dunne-the-architect-of-the-pga-tour-liv-golf-deal-lays-out-the-details

Dustin said it best in the netflix documentary (below). I don't feel bad for any of them. They all get paid lots of money to play golf. They don't work in coal mines. “For me, it was playing less, making more money. Pretty simple. If someone offered anyone a job, doing the same thing they’re already doing, but less time at the office and they’re going to pay them more, pretty sure you’re going to take it. And something is wrong with you if you didn’t.” There is a lot of gripe currently with the announcement this week. Think there is a lot that still needs to come out. Legal mess PGA had gotten itself into over antitrust is now gone, likely we underestimate where that may have been heading. Unclear if there are clawbacks for LIV players. At the end of the day more money is coming into the game, should be good for the players, or at least the good ones.

thank you @jbwent63 makes sense on the intangibles i had found a good thread on twitter breaking it down b/w insurance and non insurance businesses I had it backwards on NCI - thank you for clarifying.