Dinar
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I spent my childhood in the former USSR, and read this book and also books by Varlam Shalamov. It is a great book in my opinion, and yes, communism is always terrifying, it's just the degree varies between Stalin and Brezhnev, but it is just different degrees of hell.
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1 hour ago, Spekulatius said:
I also own a bit of BTI. I don't own Imperial Tobacco. I think BTI is the cheapest nicotine stock out there, SWMA is the growthiest.
I believe SWMA compares favorably to PM both in terms of valuation as well as business quality.
I own bti and swmay, agree with the quote
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11 minutes ago, LC said:
I've owned RELX (and its component companies) in the past. I am curious why you think it is attractive at this moment.
Growth on the top-line is accelerating, as the transition from print to digital is basically over, the hit to exhibitions business from Covid-19 is in the rear view mirror, and the main division - risk is growing. So from 4% on the top line, to 5-6% on the top line, 6-7% on operating income and low double digit EPS growth between leverage and buy-backs. Why did you sell?
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RELX PLC - RELX is the ticker
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2 hours ago, backtothebeach said:
Asking for a family member who wants to avoid negative interest rates. What would be some alternative to cash, or low risk investments, keeping it in Euro?
One possibility they mentioned was a German Real Estate fund (Wertgrund WohnSelect D), which I don't know much about. I suppose German multi family real estate in second tier cities is relatively safe.
I would buy a basket of the following European companies (assuming your relative can avoid touching it for 10 years): Robertet (RBT FP), L'Oreal (OR FP), Davide Campari (CPR IM), Aena (AENA SM), Heineken Holdings (HEIO NA), I would also make a half allocation to Dior (owns LVMH). If you relative is willing to look at British pound, I would suggest RELX PLC & British American Tobacco as well as Cranswick PLC. I own all of the companies that I mentioned. I own a big position in Dior but I bought it in 2012 and I am nervous about Chinese economic situation and impact on consumption. If he is willing to own USD denominated assets, I own and like Charter (CHTR), NEN (but he should own it only on swap, otherwise tax headaches are insane for a non-US investor), Dominos Pizza, Facebook. In Swiss Franc, Lonza and Alcon are somewhat attractive. In Swedish krona, I own Swedish Match and I think that it is quite attractive. In Canada, I like both Canadian National and Canadian Pacific. In the US I also own MSFT, but I am hesitant to recommend it - bought around $117 in April of 2019.
Book Notes - The Gulag Archipelago by Aleksandr Solzhenitsyn (Abridged)
in Books
Posted · Edited by Dinar
Ball faced lies. Marx's utopia was not achieved not because there was not a global revolution. Marxism failed because it violates human nature and logic. What is the point of work if there is no reward? How do you allocate scarce resources? They whitewash/ignore the evils of communism and its consequences even where mass murder was not committed. They conveniently forget that every communist country had massive repression and most had mass executions that would make Nazis pale in comparison. Communists killed more people than Nazis did. The reason that communism is required on a global scale is because people flee communist countries at the earliest opportunity. So if the entire world is communist, there is nowhere to flee. The basic tenet of Marxism is to each according to his needs and from each according to his abilities. Think about how that would work in practice? Everyone or a lot of people want caviar, lobster, furs, jewelry and living next to Central Park in a five bedroom apartment overlooking the park so how do you allocate the scarce resources? If people live the same regardless of how hard and well they work, what is the incentive to work? They do not explain the consequences of no reward for differential labor, and consequences for abolition of private property. In the USSR, there was an article in the penal code that would allow authorities to jail you for not working, or for being homeless, etc...