bookie71
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Posts posted by bookie71
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Thanks, I just figured I was an old fa--, and could never figure out why anyone used it.
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Cost is the only objective value as it is what someone was willing to pay and what someone was willing to take.
For the balance sheet fair market presentation that you want - Do you want a high figure (selling) or low figure (buying), then you go get an appraiser that that type of appraisal. (It is done all the time for donations, estate valuations, etc.) Be careful for what you wish for.
I would rather do my own judgement of value, not some appraisers.
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The whole idea behind depreciation is to match expenses and revenues over time. As buildings are utilized over a long period of time they are depreciated over the "expected life" of the building. For some reason the shortest life allowed under the tax law seems to be the expected life of a lot of buildings. ;)
For example cars are usually depreciated over 3-5 years.
Normally in the footnotes they tell you the lives and methods of depreciation.
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A good source could be your CPA (Chartered Accountant) and attorney. They could have a client wanting out for a variety of reasons.
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In some of the early Berkshire letters WEB shows the deferral of the redemption of the blue stamps. I'll look and see if I can locate the letters.
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Nobody has ever goofed up before. They admitted the mistake and moved on. What's not to like.
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I thought fines weren't?
ditto
http://www.nolo.com/legal-encyclopedia/business-expenses-that-are-never-deductible.html
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We have been doing it since the mid 70's and only do it once a year. I do do our stock portfolios monthly.
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Buy backs only help the shareholder IF they buy stock back at LESS than intrinsic value. Otherwise they help the exiting shareholder.
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I am currently listening to Abraham Lincoln: The Prairie Years & The War Years. It is something like 50+ disks. (6 volumes if you buy the book set).
It is a fascinating trip through history and a different time. I like to get something that I wouldn't read to listen to each summer while I am driving ( usually a history type). If I tried to read it I would get bored and quit.
I highly recommend this one.
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One thing that has helped me is that years ago I set up a small account at another brokerage and do my experimenting there. I mentally wrote the account off when I set it up. I have found out that options just don't work for me, margin is good and bad or as someone said, "leverage works both ways". I do all my experimenting in this account and it has saved me tons over the years and satisfies my need for action.
I did notice a couple of years ago that the account gets more and more conservative as I get older.
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What is wrong about setting up a separate bond account? Keep the IB account and transfer your bond funds to another broker, no big deal.
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Just put it on reserve at the library. They had quite a few of his books.
Don't sell your local library short.
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Charles Schwab has quite a listing of muni's.
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Can't thank you guys enough! (I'm putting together a little Excel work sheet that helps me take a snapshot of any company I'm researching. Not a substitute for real thinking, but helps me to put all my pertinent info, both financial and other important info, in one place. What I am doing so far is simply downloading the most recent 10K in excel form and adding my own worksheet as part of it. Keeps the info all together. If necessary, at least while I'm still learning, I'll do it for every 10Q and 10K that comes out.)
I like the excel w/s but when I really want to analyze a company, get out my old fashioned 13 column work paper and put in as many years as I can by hand. It seems to put the data in my old brain better. But then am a dinosaur.
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Use a local bank or credit union. Vote with your feet against the "customer no service bank".
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How many would have kept it when they bought it at 12 and it hit 500 or 15 or 19000? I still am sad that i let a broker talk me out of buying it at 620. There must be a reason they are called "brokers" ;D
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Also at the time AMEX had a tremendous float in uncashed travelers checks (before ATM's and wide acceptance of credit cards. Back in the olden days, when you traveled you bought AMEX or Bank America travelers checks or you were forced to carry a lot of cash. After a trip we would keep a few for emergencies.
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I used to sell and buy tons of stuff on Ebay, but haven't done either in the past two years. It just got to be too big a hassle.
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I remember when the brokers were pushing "asset allocation" and charged clients high fees to buy and sell partial shares of their stock portfolios. These were the folks who could really afford it. BUT as one broker told me "I make money, the firm makes money, and two out of three ain't bad"
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deepvalue,
In places he gets a little long winded, but seems to have really researched LBJ. I like to listen to historical types of books on long drives. If I were reading in evening, I would probably dose off in parts of it. ;D
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What if an unusual expense or emergency such as a major illness should come up, need to give some leeway to trustee.
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Listening to the Passage of Power, the Years of Lyndon Johnson by Robert A Caro. It is fascinating. It has the good and the warts of the man. As My wife said we were too busy working at several jobs and going to college to realize all that was going on at the time. It starts at JFK's assignation.
Influence - Cialdini
in Books
Posted
I gave a copy to my kids also and I don't think any of them read it either.