Castanza

How many equities do you hold Spek? If I remember right you hold quite a few positions? If you don’t mind sharing.

Dropping GOOGL is interesting. Either doesn't like the capex or calling top on AI or both? Cost basis was probably sub ~90 if I remember right.

Exactly, there is no point discussing valuations of Index funds if you aren't going to discuss how they are pitched to the ones making contributions. All people know...."I contribute X to my 401k and my employer matches X amount." The conversation pretty much stops there for 99% of people. Most people probably don't even check their allocation and just roll with whatever Target date fund they get put in.

Schwab > everything except international equities, savings rates, margin rates, interface, research, IBRK > International market access, margin rates

Long-term wouldn't this be a positive from a (non-slave wage) labor perspective? Seems like it will mostly target these Chinese companies that stand up seemingly overnight and flood the markets with cheap knockoff versions of whatever. Temu etc.

A lot of times we forget that the legends we look up to were forward looking thinkers in their own times. Nothing wrong with romanticizing but sometimes we certainly look at it with rose colored glasses or get too caught up in the past. I will say Buffett has been relatively adaptable to the future but more so with his commentary than his investments.

Ah I gotcha, yeah I can get behind that as an introvert as well. I wfh and wouldn't want to change a thing.

Saying it was "easy" is 20/20 hindsight though. I'm not sure investing has ever been "easy". And if it was "easy" then doesn't that just diminish the legends? What has actually changed though? Process is a choice imo and the only thing that really has changed in some ways is how we value certain types of companies and what metrics are used to derive value. And really that hasn't changed all that much either because it's all adherent to pretty standard accounting rules. The temperament needed to invest successfully in individual equities hasn't changed much because humans don't change much. Todays modern investing has so many more angles you can use to approach the market and still do okay. And I'm not hating on you @Eldad;it was a genuine question because there clearly is a romanticization for the Ben Graham era (hence the creation of this forum and probably part of the reason we are all here). But the more I think about it, I'm like why and is this thinking detrimental to returns?

Why do people romanticize traditional value investing so much? Shouldn't we just adapt and find value where it is? Even Ben Graham had to adapt his process.

Sounds great until "they" tell you to spend less time skiing and fly fishing and more time "providing for society" The example you give is what's used for the pitch. The reality is you start taxing shit like alcohol consumption food choices and lifestyles. There is a reason communist countries love VATs

Y’all need to relax… the world isn’t going to end because a potential 25% tariff…

I didn’t vote for Trump and I don’t support the tariff approach. But I do think Western Society needs a kick in the nuts.

Crisis lights fires under peoples asses. For better or worse that’s what Trump does. How it shakes out….no clue. But instead of bitching incessantly the rest of the Western nations should focus on on innovation, defense etc. Longterm I think that’s good for “The West”. Stronger independent nations makes for stronger alliances.

Lots of finger pointing. The fact is Western Nations (plural) have been failed by poor leadership the last three decades. Trump and his irrationality is the result of decades of poor leadership by all Western Nations. US citizens were tired of being last so they got a “King” who said he would put them first. Time will tell if that works out, but the rest of the Western Nations sure like to sling mud and provide their citizens very cushy lives (likely at the cost of future generations) all while being supported and protected by the US. How about some self examination of your own countries? How about Western Countries start electing actual fucking leaders who take a stake in the future of Western Global Leadership instead of kissing the ass of anyone or any group that will keep them in office. I can’t name a single Western Leader in any country that I would want in as President of the US currently.

No clue how this is all going to shake out. Generally I oppose tariffs and support free trade. I think a reasonable solution is the one WB promoted in the early 2000s but that also has its drawbacks. Seems like Trump is making enemies with the wrong people at the wrong time but you just never know. However it has felt like since the 2016 elections that the world has been moving towards some consolidation or at the very least so large moves amongst the political pieces. Interesting time to be alive that’s for sure. Perhaps it’s time the global pecking order gets a good shake to light a fire under the ass of Western leadership. The collective West has gotten complacent and soft. At the end of the day, uncertainties like this are why I paid off my mortgage, live well below my means and have a generous emergency fund saved. Life goes on! See y’all Monday

“Good Enough” - entry price - exit price - business outlook - reasonable hurdle rate Too many people are out there trying to find the absolute perfect company and the perfect price on paper. That just leads to paralysis by analysis imo. You can always find an excuse to not invest imo. Newsflash….everything has a little hair on it….if you can’t handle that then as @John Hjorth said….move on to another asset class. @Blake Hampton what even are you invested in?

Probably should be asking her husband these questions. Nancy isn't the one doing the trading imo.

Non-gmo Organic Pasture Raised > Anything else is a scam Soft ass generations > wedding etiquette > egg quality. Where this ends nobody knows

The problem is once you get rid of experience, it’s impossible to get it back. Military knowledge and tactics compound at high levels and at troop levels. Lot of weird happenings throughout the covid era. Life goes on.

The American and Canadian military are tight. The Canadian military and the Canadian government are not.

Let me get this straight. They just mtm your unrealized gains in a tax deferred account and take 42% of any "gains" north of 63k (~8k usd)...and they do this on an annual basis? @John Hjorth How the Hell do you save money for retirement in your country?

Nobody know what's going to happen. Best to just wait and see imo. There is little predictability with leadership changes.

Is that private sector or public? Canada has an egregious amount of people working for their government. Something like 21% of the population vs ~3% in the US.

Taxes aren't a choice... There is nothing to stop someone from having all of their assets willed to the US Government upon their death.

Now look up their cost basis and how much they get paid in dividends every year. It was also Berkshires largest “publicly traded” position at close to 40%. If you account for the privately owned businesses Apple was only ever like ~11% of Berkshires IV.