beerbaron
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Posts posted by beerbaron
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It's either Vodafone, Novartis or Unilever.
How about Swiss Re?
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Parsad, why did you make it an open discussion?
BeerBaron
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Breast augmentation is sometimes better than acting lessons?
Yes, sadly some people look at div yield as a metric... if only those poor Yellow Media shareholder would have looked at the cash flow instead of the div yield.
0.01$ dividend is so useless that they should cut it to 0.00$ . At least it would send the message that the problem is understood by management.
BeerBaron
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Yes, they should not spend a penny (literally) on dividend, they probably need all the capital they could get their hands on.
BeerBaron
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Bank of America Declares Quarterly Dividends
Why oh why are they wasting any money in dividends if they are also considering issuing shares at 1/4 of BV?
BeerBaron
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Where did the Kraft share go, did he do a total return swap on them?
BeerBaron
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At about 500$ per transaction and 1M$ per day that means he is making 500$ in revenues that is ridiculously small. I am affraid it's pricing is too low to support it's idea. Great entrepreneur tough!
BeerBaron
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Where is the rest...?
BeerBaron
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My first contact with a Buffett letter was maybe 4 years ago, I did not know anything about the man nor value investing. The only thing I knew was that he was the world's richest man and that he built it's fortune from scratch; which I highly admired. Since then, I have read most of it's life-story, investments thesis and political ideas. But every time I red what he said I went: "I wish I would be able to express my ideas as clearly as he does". It's not it's fortune that makes me sick but the way he is able to transform a complex subject into a childish example that makes perfect sense.
I've listened to leadership class, great rhetoric professors or even Dale Carnegie but none of them could give me the tools to express myself as fluently as Buffett does. Did anybody else on this forum try something similar, and what helped them accomplish their goal?
BeerBaron
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Indeed, and by the time we're at 10nm and have 150 sixteen core processors stacked on top of each other in 3D or whatever, we might be able to use this:
http://en.wikipedia.org/wiki/Reversible_computing
To dramatically reduce energy consumption, and thus heat dissipation, allowing for much more 3D stacking and much higher clockrates.
Spock teleport me to the past pronto!
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When you can't shrink transistors anymore, you can start to stack them in 3D rather than in a 2D plane. They're already working on this.
They are somewhat doing it already, as they are stacking layers over layers on a wafer. Of course, not as efficient as a real 3D.
I'm very doubtfull about Moore's law going forward, first it was the MHz that reached a plateau, soon the transistor count and after that the treatment capacity. 50 years of a law being proven right does not make it true for the next 50 years.
I would rather bet on the games being held on the phone and the XBox being some kind of post processor, giving the raw CPU power needed. Maybe even TVs will come out with the XBox compatible input where all you would do is plug and play.
But all the CPU power on the phone by 2015...nah.
BeerBaron
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iPhone 8 (Gaming Console) Could Replace Xbox 360 by 2015! Future of Smartphones
http://hitechanalogy.com/iphone-8-gaming-console-replace-xbox-360-2015-future-smartphones/
Your Next Game Console Could Be … the iPhone 8?
http://allthingsd.com/20110805/your-next-game-console-could-be-the-iphone-8/?mod=tweet
I'm sure Microsoft will turn the XBox into the next-gen device and crush the iphone leaving Steve Job to rest in piece, or is it roll over here comes Microsoft!
It won't happen.
In order to put the hardware equivalent of XBox-360 into the iPhone, the transistor size would need to also be reduced 10 times. Current best IC technologies use 30nm and the limit is about 16nm. Passed 16nm the transistors stop being transistors. Which means ICs can be reduced by 2x and then no more raw CPU power. It's going to be tweaking of bits and pieces but Moore's law won't apply anymore.
It the same thing with SSD, it won't replace HDD for raw storage because of the same physical law. It's funny because people believe in gravity but not that transistors size could stop shrinking... go figure!
BeerBaron
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That is sweet for the consumer but I have trouble understanding how they will not impact their book business.
I wish Kobo would do this!
BeerBaron
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Reading ELF's annual reports, specifically with regards to Empire Life, offers some limited colour on the operation as well, but I suspect you've been doing that.
Correction, reading ELF is a good way to fall asleep faster then I can write this pos.........zzzzzzzzzzzzzzz.
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Adjusting for size my returns would be better than they have been. There is no doubt in my mind about this. I have made most of my big percentage returns on large cap and mid-cap stocks so liquidity would not have been much of a constraint there, weird derivative positions (an would have gotten more exotic opportunities with size), also there have certain illiquid junk bonds I could not get ahold given my smaller size and I wanted to buy a ton of them. Further, I have gotten killed on F/X fees being a Canadian investor buying and selling US equities inside a registered account settling in Canadian for every f**n' trade - actually its quite embarrassing to estimate how much I have lost annually percentage wise just on f/x settlement with my discount broker in the last 3 years.
Just go with Questrade for your registered accounts and IB for unregistered ones!
BeerBaron
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The only way out is to let Greece and other countries who will not accept austerity by choice is to default. This is the way it has been dealt with in the past as it cleans out the old debt and gets the economy going again.
Packer
Banks are undercapitalized and a failure would mean 2008 x2. Nobody wants it to happen and it's costly in terms of moral damage and a drag on the economy.
BeerBaron
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just ask Russian
investors their return on capital after the Bolshevik
Revolution! As Ben Graham might caution, beware
the difference between the loss on capital (a drop
in price, from which we can recover) and a loss of
capital (100% loss, from which we cannot). Russia’s
stock market wasn’t alone in the 20th century as
three additional top 15 markets in 1900—Egypt,
Argentina, and China—suffered a 100% loss of
capital while Germany (twice) and Japan (once)
came very close.
So what bondholder in Russia did not get wiped out after the Bolchevic revolution?
BeerBaron
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I would not touch life insurers. Their liabilities have not changed but the bonds have been hovering around 1% and will probably be there for a while. Japan's life insurers got hit pretty hard in the 90s. I had shares in NWLI last year but moved out because of it.
BeerBaron
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Flat -0.7% overall. My long term holdings that I don't intend to trade were slightly pricey at the beginning of the year and dropped more then the market. RIM certainly did not help too! BRK, FFH, BAC all helped to bring back the portfolio to breakeven.
BeerBaron
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Jobs, Gate, Zuckerberg etc... are all notable exceptions but please keep in mind that they were all very technically advanced on their own. Some people can learn by themselves but most 18 year old do not have that drive yet. I believe a good technical background gives them a solid base to build on.
Innovation is a totally different animal. You can't teach it.
Ericopoly, my eng program had 98% guys. Guess why my nick name is BeerBaron!
BeerBaron
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Mediocre quarter? Since when did we become short term investors? They continue to expand globally, are making whole acquisitions, buying dirt cheap franchises that are once in a lifetime (ireland)... I'm happy.
Sdev, there are probably only two or three board members here who have continuously held ffh as long as me: 14 years.
Lol, are you break-even now on your original price?
BeerBaron
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Watsa too.
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Look at how they changed the duration of their bond portfolio. It seems they are moving with to a shorter maturity. Also, corporate and preferred are down.
Parsad it seems your friends in Toronto are still very cautious, even more then 3 months ago.
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I really don't understand the voluntary haircut?? Unless it's voluntary that banks take the writedown in one shot (maybe they could amortize the writedown...
Really not clear.
BeerBaron
Buffett Buying In Europe NOW - CNBC
in Berkshire Hathaway
Posted
Let's make a game. Who predicted IBM as Buffett's last pick?
BeerBaron