Ulti

66 , have done a multitude of sports thruout my life. Last competitive sport(started at 55) was ironman\open water swimming ( done poorly I might add). No more competition (heart). Currently: Swimming, biking, kettlebells, rukking....currently am training for a 9 day wilderness hike in Yosemite. Basic pescetarian diet low carb low sugar, no booze. For me the key has always been some sort of combination of aerobic\high intensity, weightroom ,diet and a goal ( to get the juices flowing ). Its a constant struggle to keep the male ego in check but to be honest that's been much easier in my 60's. I've always surrounded myself with excellent athletes( no matter the sport) who are much, much better than me and keep me motivated. Stretching ,foam roller .some type of lacrosse ball and occasional massage\pt keeps my old carcass afloat.

https://www.bbc.co.uk/news/resources/idt-829ea0ba-5b42-499b-ad40-6990f2c4e5d0 Counting Russia’s dead in Ukraine – and what it says about the changing face of the war:

https://beyondbengraham.com/6-sharing-memories-of-ben-graham-with-warren-buffett-in-omaha-2023/

Likewise …. Getting ready to do 10 days backcountry in Yosemite…can’t wait

Agree

I dunno Deal..... I liked listening to Kaplan because he is succinct ( not to wonkish ) ,work experience, and has an interesting take.....Do I sell EWBC based on his bearish forecasting of the future of regional banking; No. ( and thanks for the suggestion ). As I get older,I'm becoming more skeptical of experts in finance and investing... but I drive around and listen to them because I'm curious and its better than listening to my 18 year old's music ..haha

And , according to Kaplan, you have to throw in all the government programs who's spending on projects haven't even started.. inflationary

To me ,the ice cold shower was the almost robotic culture of the fed, as well as the general ineptitude of our political class..Kaplan made some rational suggestions, including giving local and state governments more time to organize and spend federal money. After the latest fed and their regulators f'ups, I can only hope that they handle future banking issues better.

Great interview

An interesting take .. depending on what sector.. not bearish

One thing that has not been mentioned is the healthcare spinoff that should take place by years end... I think that MMM will retain 12% of the new company and will also slowly sell what they retain.... This could bring in some extra cash but the healthcare division has been struggling over the past few years,with shrinking margins.

An excellent podcast with bankers from Raymond James … one of whom is a whole loan trader…. They discuss all things current in banking/ cre and future crapola

I owned this for a long time( used a lot of their products for many years) and sold at the start of the litigation mess… Totally agree that this is a bargain….part of their weakness could be the strong $ since they export a lot of shit … also their sale of their food safety division was a one off and that’s a 1/4 billion of sales off the top …. I’m not well versed in the type of litigation they are going thru .. how does this play out? Seems like it’s going to play out for years to come

I think ( last time I looked) Valueline was talking $1 per share in annual ongoing expenses for the foreseeable future and this might be a best case scenario

hope your right .... 30% of all cases pending in federal court are for the military earplug litigation. 3m and Aearo tried to get this resolved by bankruptcy action but a judge denied them. This and forever chemicals( this seems to be settling soon) held me back from reestablishing a position.

On the flip side of the coin, I have many colleagues (covering all specialties in medical\dental ) who have walked away and never looked back....Between factors such as Covid, PE, complexity of cases combined with Type A patients, etc.; leaving was a simple decision. Many just " dabble a little "... hard to turn down friends\colleagues who want a "second opinion" on a case. None , if they used their hands for a living, are still " operating ".

https://www.msn.com/en-us/news/world/russian-elite-is-souring-on-putin-s-chances-of-winning-his-war/ar-AA1cgOHF

https://www.msn.com/en-us/money/companies/the-next-crisis-will-start-with-empty-office-buildings/ar-AA1ceEKg?ocid=msedgdhp&pc=U531&cvid=606d641185224a20a6248989fb2c9e82&ei=10

Works even better once retired with SS and gov insurance

https://www.noahpinion.blog/p/decoupling-is-just-going-to-happen excellent article on the world wide decoupling going on with China by both governments and multinational corporations

su, bti

Back to the original topic: Having just watched the Pacific on HBO ( and having a father in law who was a ww2 Navy fighter pilot) … I will miss the wisdom and guidance from those who were depression babies/ kids and of the “ greatest generation “I admire both men’s ethics and morality forged during that time.

good interview

https://25iq.com/2015/08/09/a-dozen-things-ive-learned-from-sam-zell-about-investing-and-business-3/