augustabound

;D Rule 1, don't lose money...........

Yes but Kim Jr only uses it for porn official country business.

When does the number of pages pass the number of combined Sears and Kmart stores? ;D And how many stores will be left on Dec 31, 2015?

http://i.imgur.com/OoxAd.jpg

No, for me I just mean reading along.

I'm not following that thread so I'm glad you did post it. :)

I've heard high school. Parties with girls wearing different colour lipstick and the goal is to get as many colours on your..................ahem, "Johnson" as possible.

I wasn't a nerd, just shy and always "the nice guy". In retrospect, I should have let more women know I was interested because sitting here years later, I saw the signs clear as day. But by the time I realized it, it was too late. To top it off, I usually had a female friend I was close with telling me someone was interested or to just go for it. Or maybe I could have had my female friends........................... oh for f*$k sake. What was I thinking............. :-[ But really, in the end I have a great wife and 2 daughters, so I don't worry about what could have been. ..................often. 8)

What was your reason for buying it?

"she's so fine there's no tellin where the money went" No, she really wasn't. Not even close. ;D She was the less attractive sister with possible emotional problems. Her fraternal twin was hot but............ think of all those typical blond jokes we told in the '90's and that was her sister. Apparently one time when they were kids they drove past a farm where some sheep were feeding, her sister opened the window and said, "Moooooooo". That story was confirmed by their parents................

The regrets of a 40 year old, stay the hell out of debt. I'm talking consumer debt. I wasted so many years under the weight of credit cards. I've been (consumer) debt free for about 10 years and it feels great. Travel. I think Nate hit the point though, he travels with his family. We don't, yet. They're 3 and 5 and in hindsight, maybe we should have travelled sooner so they'd be used to it. They go crazy in the car after a half hour. On the flipside, I have a friend who travels to Florida a couple of times a year (from Toronto) and they have 4 kids. The kids are used to it. If you're passionate about something, don't lose it. I've golfed since I was 4 and was regularly in the low 70's when I was in my midteens. After high school, life really starts and with the exception of one year, I've barely managed a round a year. (I split with my live in girlfriend in Y2K and played 64 rounds that year.) She's also the biggest factor in my first regret about debt. ;D You will lose touch with friends but keep in touch with the really close ones, even a text message every now and then or a drink or dinner around Christmas if you live close enough.

How is this different than any other "news" outlet from previous correction or collapses? ;D

I've thought about this in the past also but was told 2 things by people more experienced than me. (This isn't a reflection towards you in any way, just my experience). The companies or industries either already have the future priced in or don't pan out at all. Usually the latter but sometimes that's a result of the former. :)

I was going to ask about that, did he have a partner at T2 and now he's independent? Yes, his partner was Glenn Tongue (hence T2). Performance lagged and they decided to split. Maybe performance lagged because Tilson was on CNBC once a week and was obsessively working on his Berkshire valuation. Then writing about how undervalued BRK was........................ all the time.

I was going to ask about that, did he have a partner at T2 and now he's independent?

I've seen one of his letters that was posted to Scribd (it was later taken down as per Mohnish's request) and he does have a performance table for each fund. This was a few years ago and I couldn't begin to remember his numbers. Speaking to his comment, he calls all short term irrelevant. I don't see that single comment as anything other than his usual M.O.

I was just about to post the same message. Count me 3. ;D I was thinking that his 13f's don't seem that interesting anymore but then if I think that, so do other people and there will be fewer people cloning the cloner. ...............it's almost too easy. ;)

Last I heard a few months ago, he only had about 40% of his portfolio in the U.S. But I understand your point about following the herd here. Augusta, Can you please clarify the 40% of his portfolio in the US. Based on last 13F the market value was $413 MM and if he has a $700 MM dollar fund per Barron's article that equates to more like 60%? Thanks, David That's just based on my memory of previous threads whereby people asked about his 13F holdings not translating to the AUM he's known to have. I was merely commenting on the fact that 40% (or 60%) if I have the percentages reversed, are unknown and aren't neccessarily in household names like BAC etc. Fiat aside of course. ;D He's known to hold an Indian bank, no other North American investor holds that most likely. Since he started his fund his methods have changed a bit every few years, tweaking his formula. I think he just sees a huge price discrepancy with BAC, C etc and is buying based on that. It has nothing to do with stocks or warrants that every fund manager or individual holds. It's price alone. He still holds to his ideal that a stock must show him 2-3 times upside in 2-3 years for him to invest.

Last I heard a few months ago, he only had about 40% of his portfolio in the U.S. But I understand your point about following the herd here.

Don't forget the 80-20 rule, you can cut that down to 100 and you'll free up so much time. ;D

He was being sarcastic. Todd Combs reads 500 a week but was mis-quoted for 500 a day and Ted Weschler spends 500 hours before he buys a stock typically. It was discussed in great length last year where multiple board members pondered how to read more to be like Todd and Buffett.

He clarified at last years meeting that it was 500 per week. And no, they don't read word for word. After reading K's and Q's as long as they have you get pretty good at skimming over less important parts. When you say 200-300 pages a day, how many hours a day do you read and what type of reading material is it?

I just saw an episode of Pawn Stars where a girl thought she had a finger saw from the Civil War. Their local historian said it wasn't but proceeded to tell the story of the finger saw and how it was used. I had achilles tendon surgery this summer and thought the same as you. I'm also thankful for Tylenol 3's. :P

Nah, I'm just kidding. I couldn't buy an airline even with fuel hedges. ;D

Airlines