Dinar

Bought Safran, and Ashtead.

Spek, what broker are you using to trade Poland? Thank you in advance.

I sold in both taxable and IRA. I swapped 70% into PM. I already own a chunk of SWMAY - 5% position for me.

I think the question is what in the best interests of Mr Putin, Mr Biden and Mr Xi? In the case of Mr Biden, I would think that he would like a crisis somewhere that would deflect attention from high inflation at home. In the case of Mr Putin, I do not pretend to know, but I would guess that he would like high oil and gas price, and hence keep tensions high around Ukraine, but not invade? In the case of Mr Xi, no idea, Chinese economy is much more robust than the Russian one, yet could Mr Xi benefit by invading Taiwan and deflecting attention from the collapse in real estate, assuming there is going to be one? Could Mr Xi decide that reuniting Taiwan with the motherland will get him eternal adoration of the Chinese people and historians? I do not know. I am more comfortable predicting/venturing opinions regarding Mr Biden and Mr Putin than Mr Xi.

Spek, you bring back memories of my German history class. Rosa Luxembourg and Curt von Schleicher say hello.

What makes you think I did not? In any case, there is no point in discussing it further.

Are you asking what would have made sense in the past or now? Today, I would choose Safran today over those two. However, between Aena and Dufry, Aena is a no brainer. Much better business, 7%+ free cash flow yield on 2023 numbers assuming traffic recovers to 2019 levels, real estate assets in Madrid and Barcelona worth 10-20% of market cap to be monetized. Dufry's business is also much easier to destroy.

Aena did NOT dilute its shareholders. I expect 2023 traffic to reach 2019 levels, and free cash flow yield to exceed 7%. You also get real estate assets around Barcelona and Madrid that will be monetized.

Isn't Aena cheaper and a better business?

could you please explain how it works?

I bought their product for years and decided that I will never buy their products again after two super expensive laptops bought in spring of 2021 quickly developed problems and their premium support basically told me to go fish, rather than apologize and offer the money back or fix the situation. So if my experience in widespread, their revenues and hence profits will be impacted. As an investor, I would never touch Dell stock given how Mr Dell has behaved towards shareholders - I doubt that my interests and his interests are aligned. VM Ware is a good example as well.

Historically a great buy signal, except for a couple of times when it went to 70! Still on a two year view probably quite attractive

There is a difference between securities in margin and non-margin accounts.

What do you have to lose? Evaluate the pros and cons. The only downside that I can see is as follows: to lend securities, your securities must be in a margin account. Thus, they are commingled with the other securities including the firm's securities. If Schwab goes bankrupt, then you may not get all of your money back if you exceed SIPC + insurance limits.

Thank you very much, will do.

Spek, I love German wines, if you do not mind sharing, where are these vineyards? Also, do you know of any good place in the US to buy Ice wine? My wife and mother love it.

Spek, Twitter reminds me of the quote about Brazil - it is the country of the future and always will be. Twitter, as Zuckerberg put is, is a clown car that drove into a gold mine. The new CEO was CTO before and their technology was lousy. They need first and foremost someone like Zuckerberg who understands how to run a business. Keep in mind neither Elliott nor Silver Lake have been able to accomplish anything. Convert issuance is crazy. Yes, the fact that this property can be bought for $31bn is insanely cheap - in Zukerberg's hands it would be worth $200bn+. In the hands of the current clowns...

Were you the one who posted the VIC write-up with the same logic on Friday evening?

Understood, thank you very much.

Gregmal, am I correct in understanding that you think that NYC is very cheap or the suburbs are very cheap? if so, which areas of NYC if the former or Bergen county if the latter, do you think are very cheap? Thank you.

You know nothing about me, yet you lecture me. You compare adults to toddlers? Children must be raised and taught how to behave, adults do not need yours or anyone's else instructions as to how to live their lives as long as they comply with the law. I lived under socialism, and I know the consequences of no incentives to work, which come from high taxes and social spending. There was literally no food in shops, forget about toilet paper. Nobody had a car. Put your money where you mouth is: tell everyone you hire: handyman, waitress at a restaurant who serves you, a barbet, et all, that you will impose a 30% tax on what you will pay them and give it to the poor. Let's see where that gets you. Generosity at a point of a gun is not generosity, it is robbery being enforced upon you. If you disagree, please let know where I can meet you and how I can force you to donate to charities of my choice - since you believe that you can decide how much and to what causes I should donate, I feel I can dictate the same to you. So until you give 100% of your money to my charity of choice - scholarship to send inner-city kids to Catholic schools, you are just another blow-hard who tells the rest of us how to behave while ignoring your own rules.

Sharing implies voluntarily, hardly a fair statement when it comes to taxes. Sharing implies that you give the money to those who you think deserve it, not those who feel entitled to it.

I have the utmost respect for you and your mother, and I mean it most sincerely. Both of my grandfathers were raised by a single parent, one during Russian Civil War, the other during World War II. The problem is that for everyone like you and your mother, there are sadly dozens of outcomes that I described. I would be delighted if 95% of people on welfare ended up like you and your mother, I am worried that it is more like 5%. Look at the growth of underclass in the US, Daniel Patrick Moynahan wrote an essay on the topic 60 years ago - the collapse of the Negro/Black family. This is my problem with the situation. As for people exploiting tax loopholes, look, most government spending is wasted, so I understand people's reluctance to pay more than they owe.

You missed the reference, if memory serves me properly both Chaim Grade and Tomas Sowell were raised by widow and grandparents respectively.