ValueArb

Sold part of my SLVM position (28%). It's runup about half way to my end of the year goal, and reconsidering how much weight I gave it due to its debt load. Edit: Oops, I originally wrote SILV and 8%, first was a brain fart, second changed when I decided to sell more. SLVM is a spinoff where International Paper loaded it with debt. It should have no problem paying down the debt and start buying stock back to move it's PE up from 5 to 8 next year, but I don't like to hold large positions in anything with balance sheet risk.

The golden horde were immune to sanctions. They did what they want.

I think to be fair the Ukrainian leader is concerned about causing a panic, but he's definitely preparing for war. He doesn't know what Putin will do any more than we do, or maybe not even Putin does. I thought Putin was originally just posturing to push the Ukraine around and get some easy concessions, then declare a great victory without his forces even broaching the border. But I was shocked that his demands were so absurd I now wonder if he needs a war to bolster his political support at home. I don't see how this ends well for anyone unless Russia stands down, and then it doesn't end well for Putin. But if he invades I think he's got Chechnya times ten on his hands and gets Russia bogged down in the Donbass for years with heavy international sanctions. That will eventually be terrible for him but it's going to be terrible for the Ukraine from the beginning, and not great for NATO. How will Germany react, and will they really agree to cut off that pipeline? Biden seems to be writing checks that he won't be able to cash and NATO's relationships may fray terribly. And this has to be terrible for the Russian stock market. Why can't we all get along and trade each others markets in peace?

If rates go up, houses become more expensive to own at same price but how does that impact prices if there is still no inventory? i can't imagine how higher rates is going to create more inventory to sell.

It's certainly proof I forgot my sarcasm tag;)

I think Lichtenstein and Morgan should have sent 100 BTC to 1,200 random accounts, including a couple of their own. They wouldn't have gotten away with billions but would have gotten something and probably not caught. And they would have fueled quite a few small investors!

Between Deficits Donald, Borrowing Joe Biden, OweBama, and George "natiional debt went woosh" Bush, there has been a lot to criticize the last twenty years for a fiscal conservative.

Proof that crypto is useless is the Lichtenstein and Morgan bitcoin theft from Bifinex. In over 5 years they were unable to launder more than 20% of their BTC. If Bitcoin doesn't work for criminals, who does it work for?

I'd pay more to disable ads than they can possibly pay.

I three this thought!

Airport concessions are great businesses. I know this because I used to play high stakes poker with a guy who owned a bunch at our local airport. He was making so much money he never had to fold a hand!

Crypto enthusiasts have to wonder if this signals the end.

I never said the Ferrari was proof his clients did well. "Where are the customer's Ferraris" is a good title for a next book.

When your investment manager is driving a Ferrari, you don't need the license plate for proof he's done very well.

I'm pouring one out just for them...

The man who said Cathie Woods is a genius and Elizabeth Holmes is the next Steve Jobs. I admit I'm being unfair, he has a lot of time to fill and is just an entertainer. Any true value investor replacing him would get a rating of zero.

How did he do in 2007-2008? I can forgive someone with his style trailing during a big bull market, but isn't the point of his approach to outperform during bear markets/

For the people here who sell covered calls on BRKB, what duration do you usually target and how far above trading price?

Many investors would like Michael Dell to take a deep dive with lead weights tied to his ankles.

Spotify "100% Lounge" playlist. I am a big believer in only listening to instrumental music while working because there is good reason it assists concentration and "deep thought", so I have a bunch of instrumental playlists mostly smooth jazz types.

Nice!

I recognize I have no insight into the housing markets future. So when someone who has deep insight like KB homes CEO makes positive pronouncements about their markets future, my rule of thumb is to weight their opinion heavily if they are a net buyer of their stock, and weight it lightly if they are a net seller. In both cases they have incentives to "talk their book" but I give the buyer more credit for the long term thinking and honesty. Now it occurs to me that I've never thought of how to weight someones opinion if they are sellers and their opinion of their markets future is negative, hmmm.

Thanks, that makes it very clear.

Ok, this makes sense. I did nothing, I had assumed cash settled, IBKR must have covered the shares for me and I benefited by them doing it today at lower prices than I could have done on Friday.

Not sure what you mean here. I owned 5 contracts to put ARKK at $100 that expired Friday (I thought). Yet somehow today during market hours I've gotten notifications of purchases of the stocks in my puts that finished in the money (WKHS, NKLA, ARKK), which I'm presuming means they are being closed out by IBKR. For another example, the WKHS purchase is dated just an hour ago, at $3.065, which is less than low from Friday and same number of shares that I had for my $5 WKHS puts.