Castanza

~500k total ~100k Ukrainian troops @cubsfan In light of that, the public spectacle was completely disrespectful. Especially when he berated Zelensky and said “You hold no cards.” Not a classy thing to say. We all know these discussions go on behind closed doors. I’m sure they escalate and get out of hand often. Lost of pressure on everyone’s shoulders. Politicians are humans and have emotions. As @John Hjorth said. But part of a politicians job is Statesmanship and appearing to the public in a way that instills confidence. We shouldn’t see you berating an ally world leader (who was elected) who is already in the thick of it. This public tantrum bickering fest did nothing positive for the situation at hand. In fact it showed any positive advanced Macron made were false and that we are more divided than ever. Putin and Xi are laughing their asses off.

What a shitshow of an interview. Trump and JD were disrespectful as Hell. Zelensky is a desperate man right now. I don't love the guy but he is the guy for the job now. Say what you want about election suspension...Churchill suspended elections in England for how many year? Nobody would call him a poor leader. Trump and Vance should have called and end to the meeting and discussed it behind closed doors. Republicans are trying to solve the war based on why it stated. Too late! the game is already in motion. Time to sack up and play the game. The Democrats were pussying footing around and wasting aid by holding back at key moments or not giving Ukraine what they needed when it counted (trying to save face).Biden allowed this shit to fester and linger for years. Like WWII this isn't ending until US troop (boots on the ground or USAF) involvement. I said it from the beginning and I'm saying it now. Arguing about why the war started and how it could have been avoided is a different argument than what should be done moving forward. <---- this is leading to a lot of disagreement in this topic and it's silly. Trump may have been the right guy in 2016 before all this stuff started, but I don't think his negotiating tactics work once the game is in motion. Exactly why I did not vote for him.

RTO

This is a more updated thread regarding railroads, might be worth posting there instead?

No that’s great but even per their own words: Most of the new hires will be focused on research and development, or R&D, silicon engineering, software development, and AI and machine learning, You need a highly educated workforce to fill these roles and that starts with education. The US lags here compared to many countries. Instead our politicians try to keep the steel industry here for “National Security” which is bullshit. The “common man” is not a steel worker or leather factory worker. Those days are gone and those jobs are leaving and frankly should leave. It doesn’t make sense to keep them here with the wages they would demand here. Traditional manufacturing jobs make up less than 10% of the workforce. Yet it remains a huge focus of politicians and policy. It’s silly and leading to American inadequacy on a global scale.

Unless you're bringing high tech manufacturing to the US it's silly to try. But our education system is not up the to task because we are stuck in the past. This is where EU will eat our lunch over the next decade. Didn't the CHIPS act require a ton of H-1B workers to staff the key roles? Trad manufacturing jobs (excluding farming) shrunk under Biden even with all that money from 8.3%-8.1%...It's simply for a different era imo. Even China is losing manufacturing jobs. They have lost more over the last 10 years than exists in the US as a whole.

Makes me think of WB quote: “It takes 20 years to build a reputation and 5 minutes to destroy it.”

https://podcasts.apple.com/us/podcast/the-economics-show/id1746352576?i=1000689712495 Very good fair and balanced piece imo.

Haha bummer! Was just a few shares a few shares though so nbd

https://podcasts.apple.com/us/podcast/war-on-the-rocks/id682478916 Last 3 have been very solid.

What exactly is lasting peace? A generation or two if you’re lucky? Peace is a myth imo. Which is worse? Unsatisfactory terms for Ukraine but an end to the bloodshed in the near term? Or continued bloodshed with support increased allied support and possible escalation? A lot of ways this could go with either path imo. Ukraine should definitely be at the table though. My opinions on how this all started are known, but pulling the rug on support after years is not wise imo. Wisdom is found in the council of many….

If it was in my brokerage sure, but I held it in my Roth so I have no problem flexing in and out of tax free positions (Brk.b as well). NTDOY, love it long term, but the stock has gone up ~30% in a month on news that isn't all that new imo. Great future and great business moves. @Gregmal After the runup this was getting close to 12% for me. If it wasn't in my Roth I likely wouldn't have trimmed. Debated trimming to just 5% but figured why not with how this thing swings around (famous last words).

JOE, FRFHF, RTO last few weeks FRFHF - 30% Cost Basis up to ~900 JOE - 15% MSFT - 13% RTX - 11% RTO - 6% GOOGL - 5% CNSFW - 5% TOITF - 5% cash = 10% dropped MELI, DHLGY, CPRT, WFG, BRK.b, NTDOY Trackers - SSD, CB, NTDOY (probably gonna regret trying to trade this)

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

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.