Xerxes

100% agree. Just be yourself.

Spek, There another podcast where Einhorn dropped by few weeks ago on CNBC. He was very clear that what he has been saying is that "value investing as a business doesn't work anymore" not that value investing in of itself does not work anymore. You can watch it for free by going through the Podcast as the link is through a firewall Watch CNBC's full interview with Greenlight Capital's David Einhorn

most folks i think sell (take trading profit) on their long-term position because they translate +10% move in the quoted price a validation of the bull thesis. In reality, the bull thesis is irrelevant. Fundamentals takes years to shape up and show up in price. A rapid movement in price is just what it is: a rapid movement in price. I think it is worthwhile to make a personal journal when one admits to him/herself (free from judgement) if a positive move in stock was the case of being right for the wrong reason or truly the case of being right for the right reason.

This is the first time I have seen that the "Cheers!" is not on a new line Gotcha !

There a lot of sells in the past two pages on the very name/sector, folks were saying it is long term buy because of this, that and the other thing edit: I guess there is a “relative” dimension aspect that is always in play

China could broker something between Iran and Saudi Arabia because it was an honest broker. Not because it is honest per say as a government, rather than it had equal stake on both sides which forces it to be honest. I can never imagine U.S. government to be honest broker in any shape or form with Iran. On Russia and Ukraine, I have a hard time to see PRC being that honest broker. Yes they will talk the walk. I truly think the Turks will play a strong and outsize role in whatever comes out of this conflict. They have a stake in a successful conclusion to this miserable conflict. And they are NATO and they are an autocracy at the same time. Edit: I should add PRC and Russia have much in common yet much separates then. PRC does not want another 1989 fall of Berlin Wall but also doesn’t want to tear down rule-based post-1945 system we have. Just want to add Chinese characteristics to it. Can’t say the samething about Russia.

Not exactly related but informative

Good lord ! No one is interested in buying the dip on CharlesSchawb !

Congrats Viking and thanks for yr contribution to this board. my take is that a “buy and hold” well executed, will have a few monster wins which would make it a de facto “concentrated” portfolio over time. Natural order of things. however, a well executed “concentrated” portfolio may or may not become “buy and hold”, since one can trim and adjust.

yes I always mix up “disinflation” since it has both a D and a I.

Great interview. folks call the recent SVB akin to tightening, Gundlach sees it as easing (disinflationary) as the bonds are being paid full face value (I am guessing he is referring to SVB securities portfolio)

Looks like the internet community have it beyond doubt that it was NOT from a Top Gun deleted scene, with Tom Cruise flying a stolen Su-27. Now if the same internet community can put their effort and intellect to solve an actual mystery (Nord Stream pipelines) that would be great. This “T1000 drone Terminator vs. Su-27 Flanker” episode I think would be classified under cat-and-mouse game that always been there but now running with more threshold for risk. Perhaps to “normalize” of military engagements/contacts between the two nuclear powers. The more you blur the line the more you can leverage your hybrid warfare. I think there will simply be more of these pushes by the Kremlin. But nothing consequential will come of it. That said listening to news reporter asking Pentagon officials in press conference if the drone incident was an act of war was hilarious. These silly reporters seem to forget that NATO led by U.S. is actually at war with Russia. However it is a war were both sides have decided to fight within a certain framework of containment.

is this a deleted scene from Top Gun 2? We have been betrayed !! It seems that Paramount has been keeping a hidden Extended Edition version of Top Gun (ala Peter Jackson LOTR) to double-dip our pockets

I think by definition HTM do not move in value (either up or down) with interest rate movement. They are amortized over their duration. Their so called movement in value that is being talked about are based on “look through” marks. I.e. should they be M2M, equity goes up/down this much It is the AFS that will get the snap back effect accounting wise. perhaps someone can comment on my comment

Hey at least they are getting some snap back on the M2M unrealized paper losses. If we can’t have FFH locked in even at higher rate (higher interest payment), reversing paper losses is your second prize (unwanted as it is)

How about Canadian banks with US exposure instead. TD, RBC (that has presence in California), and less so BMO

Steve Eisman showed up for about 10 min on CNBC. “Don’t be Hero” he says “Don’t be Hero to Zero” he says (no he didn’t say that I made it up)

Interesting comment on Closing Bell pod on CNBC: measuring P/B but adjusting B for unrealized bond losses

They stayed short-term since 2016, and kept the view no matter what came (covid), believing that secular bear in interest rate will be long term, secular and with many cyclical dips, here and there. I think today’ yield dropping is a scenario in line with a cyclical dip. So FFH stock will/should dip, because market will see that as them missing the boat. But they got their eyes on that long term secular bear.

This BBC documentary caused a raid at their office in India !

US drone: Russian jet forces down MQ-9 Reaper over Black Sea | CNN Politics The Reaper drone and two Russian Su-27 aircraft were flying over international waters over the Black Sea on Tuesday when one of the Russian jets intentionally flew in front of and dumped fuel on the unmanned drone several times, a statement from US European Command said. The aircraft then hit the propeller of the drone, prompting US forces to bring the MQ-9 drone down in international waters. Pentagon spokesman Brig. Gen. Patrick Ryder added Tuesday that the Russian aircraft flew “in the vicinity” of the drone for 30 to 40 minutes before colliding just after 7 a.m. Central European Time. “Our MQ-9 aircraft was conducting routine operations in international airspace when it was intercepted and hit by a Russian aircraft, resulting in a crash and complete loss of the MQ-9,” Air Force Gen. James B. Hecker, commander of US Air Forces Europe and Air Forces Africa, said in the statement. “In fact, this unsafe and unprofessional act by the Russians nearly caused both aircraft to crash.”

Anyone remembers few years ago CharlesSchwab was advertised by the investment community as a large rate hedge and that it was going to do really well as the interest rate rise shoots up it was no-brainer !!

Arb play