Dinar

True, but look at performance of Revlon and even Estee Lauder over time.... Revlon was a wipe-out and EL has not been fun over the last couple of years.

Nothing. You can announce whatever you want, but making it work is not easy. If it was so easy and such a winner, why didn't they do it a year or two or three ago? Also, interesting - connection in Chicago. This is the biggest bottleneck, and every railroad tries to avoid it. I think a year or two ago, CN bragged that thanks to an acquisition done I believe during Hunter Harrison's tenure, they could avoid Chicago and save 20+ hours. So now they are going through Chicago? I think that this is a desperate attempt to try to reduce losses from CP-KSU merger. The investor day in June will be interesting.

What is the thesis on SCHOU CPH? Thank you

This may all be true, however: a) How representative are these boomers and how wealthy are they? It may very be that 5% of boomers hold 90% of the equities held by boomers, and these people with say median net worth of $30MM+ may not see their lifestyle impacted by market fluctuations or bear market. So they might then choose to hold equities to bequeath more wealth to their descendants. After all, Buffett & Gates may be worth $100bn plus and hold more equities than even ten thousand somewhat wealthy boomers. I, by the way, know a number of 70 year olds with seven digit portfolios 100% in equities because between dividends, Social Security and pensions, all of their expenses are covered. Why would someone own 10 year treasury at 3.6% when PM pays a 5% dividend yield and it is growing? b) Say you are correct, what will be the amount of stock sold per annum by the boomers, and who/what will buy it? If companies generate say USD 1 trillion of free cash flow per annum in the US, and return it all to shareholders, then assuming $300bn is in the way of dividends, $700bn is available for share repurchases. c) What will happen to asset allocation at endowments and pension funds? That may be more important than what boomers do. d) Inflation is not likely to go to 2%, more likely to stay at 3-4% per annum for the foreseeable future. How will boomers react in this case? [Christine Lagarde yesterday laid out why. I would add to her points two other things: everything that the Biden administration does discourages work and encourages welfare, which leads to higher inflation, and green new deal also means higher inflation. Generally, putting race/sexual orientation over competence does not lead to lower costs and higher quality.]

That's not true. You confuse celebrating personal freedom with imposing your views on others. I would never impose my views on others, while many (not all) of homosexuals, transexuals, and essentially all of socialists/communists want to impose their views on others.

It is @dealraker

Agreed. If the US government had brains, it would tell Turkey that either Sweden gets into NATO or Turkey is kicked out and then Sweden gets it. It is Turkey's choice as to what it prefers.

I think that if you do research, you will find out that there are quite a few people who transitioned and later regretted that. It would be interesting to see statistics by cohort: after six months, a year, three years, five years, ten, and twenty.

I agree with you. Pre KSU acquisition, CNR had the best track network, post KSU deal, CP has the better network. Post KSU deal, I think synergies are going to be much higher than Creel promised, and once they are captured, volume growth will be much higher than at CNR due to Mexico. I also think CP's management - Keith Creel is better than the management at CNR.

I am biased, but I think CP is much better than UNP and somewhat better than CNI. (I own both, although 8x more CP than CNI.)

When did she sign her previous lease? Sure, my buddy had a 35% rent increase a few months ago in NYC on his apartment, but after a 25% decline in prior rent when he renewed his lease in fall of 2020.

Actually, we do not have inflation at 5%. Look at shelter which makes up more than 30% of the CPI, and it is supposedly up 8.6%. What universe do the clowns who gather statistics live? Where is 8.6% inflation in shelter costs?

40 years of brainwashing by schools, universities, newspapers, Hollywood. Heck, look at Sam Bankman Fried - his mother, a law professor at Stanford, wrote an article a decade ago basically saying that personal responsibility is an absurd concept and there should be no responsibility/punishment for crimes

Spek, you miss my point, it is an own goal that Ukraine has just scored. As for voting or not, it is hard to compare far right parties across countries - for instance far right is a lot more popular in areas with large immigration. Also, can you imagine Munich city council renaming Mozartstrasse into Ernst Rohmstrasse?

No, Disney did NOT trade at a 30bn EV in 2015. As a matter of fact, the low for the stock that year was $91, although there may have been fewer shares outstanding since it had not bought Fox at that time.

https://www.jpost.com/diaspora/antisemitism/article-738940 Meanwhile, Ukrainians are busy glorifying Nazis. Could not ask for a better gift to Putin, plays straight into his narrative for domestic consumption, and of course gives those who do not want to see their tax dollars/euros/pounds given to Ukraine plenty of ammunition.

Thank you. I will give you an example: a friend rents an apartment at 424 west end avenue in Manhattan, and he has been there for a decade. He signed a renewal lease in fall of 2020 (to start January of 2021) at 25% discount to rent he was paying previously. A few months ago (in the fall of 2022), he signed a renewal lease with a 35% increase, bringing him essentially to where he was in 2019 prior to pandemic.

@thepupil, I think Covid hit them pretty hard. Flatbush was on a NOI 20MM run-rate in 2019, and then Covid 19 and all of the restrictions re rent increases, evictions, and also higher vacancies hit them. 10 West 65 is bad, although there are a lot of air rights there. I think the other problem that it and Clover have is a lot of leases signed in 2020 and early 2021. So once those leases get marked to market... Also, I think that you made a mistake regarding the interest rates. the debt at Tribeca house is 4.51%, not 5.6%. Aspen is 3.68% not 7.0%. Flatbush is 3.125% through may 2027 Clover is 3.53% to December 2029

The was an article years ago about a couple of guys who made hundreds of millions of dollars betting on horse races in Hong Kong. https://www.bloomberg.com/news/features/2018-05-03/the-gambler-who-cracked-the-horse-racing-code

@thepupil, why would you be happy with 8% from Berkshire, when there are so many much better opportunities in the market? By the way, it has underperformed S&P by 100 basis points per year over the last 15.25 years.

Because it compound at 8.07% since 12/31/2007, and not clear that it will be better in the future. Geico is being crushed by Progressive, BNSF by UNP & now CP/KCS. Todd is a joke.

yes

@RedLion, I think that you will regret owning BTI & MO.

Aimco - 3% Ashtead - 4.4% Bel Fuse - 0.9% Dior - 8% Clipper Realty = 1.8% Canadian Pacific Railway - 4.7% Campari - 6% Heineken Holdings - 8% St Joe - 3.1% L'Oreal - 18% New England Realty = 15% Philip Morris International - 18% (includes options on a delta adjusted basis) Safran - 4.4% Spirax Sarco ENgineering - 3% Transdigm - 3.2% Tel Aviv Stock Exchange - 9%

Yes, but at a 15% on a 10 year treasury, this is a ZERO