Spooky

BAC

He's probably trying to start a panic. Slimy

This is news to people? Haven't we had enough gov't bailouts in our lifetime? We need creative destruction to start clearing out more of these zombie companies so we can finally reset.

He's done it again. The absolute mad lad!

Especially when you are also super exposed / concentrated to another extremely interest rate sensitive sector, venture capital.

Bought some more Citi, BRK, VOO, GVLU

Inflation really hurts lenders and benefits borrowers. The Fed is owned by the lenders.

I got pretty lucky with timing but transferred a lot of CAD to USD yesterday.

How are you playing this Viking?

Exactly. In my opinion the large amount of float BRK has available reduces its cost of capital which gives it an advantage in capital intensive industries which is why BRK is the largest owner of PP&E in America. It is the best owner of these types of assets.

Same. I don't really have any high conviction ideas. Been slowly adding more of a value tilt to my portfolio with some emerging markets, bank stocks, GVLU, BRK as well as sitting on more cash than usual waiting for something good to come along.

What if Cramer bought the inverse Cramer ETF? Would it create a paradox?

More BRK.B

Thought this letter was better than last year's.

Anyone have a PDF of the full letter (or any of this other letters)?

Fuck the short term noise. Invest in good companies with pricing power and a margin of safety.

I have a chunk of VOO in my RRSP and my spouse contributes regularly to a robo-advisor, Wealth Simple. Insurance in case I fuck up picking individual stocks and lets me take some more risks with the rest of the portfolio. If I am able to one day quit my day job and pick stocks full time I would move to a totally concentrated portfolio of 6-10 individual securities.

Does Nitor have a good track record?

Any good ones?

Always a great time to buy BRK.

Bought a starter position in Citibank, GVLU ETF and some more VOO

Wise words! Agree, need to cut out the noise and think long term.

This is good news... hopefully I can buy more at a good price.

I listened to a replay of JPow's remarks and they still seem pretty hawkish to me (at least by the words of the statement). Saying they are going to need to raise more to bring inflation down to their 2% target and it's still to early to conclusively say that inflation is vanquished. Not sure where the narrative of a Fed pivot is coming from but there could be a few more twists to this story.

The Tod Combs interview from the Graham & Dodd breakfast referenced in this episode is extremely interesting. Highly recommend reading it. https://investmentmanagementinsights.substack.com/p/graham-and-dodd-annual-breakfast