augustabound
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Posts posted by augustabound
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I'm just happy that I live in a "global city" Boston and can buy an OK house in OK burbs for $400-500K or so.
We're in an OK suburb (45 minutes) of Toronto and paid $350 4 years ago. Same model of home is currently selling for $500K.
Toronto's not a global city until they can get their pathetic transit issues fixed. We need the Ford brothers back in office to build subways to everywhere. :D
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There are restrictions on farmland being rezoned.
If I understand human nature -a point is reached where citizens exert pressure on their elected representativeso to release more land/tighten rules, etc. at some point in time. It actually seems to be playing out that way if you see what happened in recent elections and the pressure continues to build.
The problem is that the prices are so inflated, that the floor is going to be a long way down once the music stops due to any reason.
I can only speak to Newmarket (and Aurora I believe but not positive). About 10 years ago there was a halt to all new home construction. The town council(s) said there's no more land to be developed, ever.
Famous last words. A golf course was rezoned to residential, with lots of residential opposition. But not over green space issues, the local residents said their home values would plummet since they're not a golf course community anymore.
Farms in the same area, west of the mall for those familiar with Newmarket, were sold and are being developed. Prices start around $800k last I looked. For a 34' by '110' lot and about 2000 sq ft.
All on land deemed untouchable about 10 years ago by the town council.
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Unrelated completely to the man himself... but his car burst into flames and it wasn't a Tesla.
Well, actually they didn't even bother to say what type of car it was.
Actually the Bloomberg article I read said it was a Chevy Tahoe. He doesn't seem like the Tesla type to me. You know what they're like. :P
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It's sad that my first thought was suicide also.
I guess lots of people think that way, a kind of morbid curiosity.
When someone is trending on Twitter that hasn't been in the news recently, my first thought is of their death.
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I don't know how relevant this is but the suggestion of a college course reminded me of this.
https://www.coursera.org/learn/wharton-accounting
Enrollment closes tomorrow but they run this every couple of months.
Part 2
https://www.coursera.org/learn/wharton-financial-accounting
I have all the videos of the courses but haven't watched any of them yet. His annoying animation characters are really ................. annoying. Brutal actually. But the course is free.
You can always just do what I did, enroll and download the videos....................then forget about them for 6 months. ;D
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Just finished reading this book and I have to say it left me little disappointed. I guess I was expecting more out of it, but feel like it didn't really offer much.
I felt like that too. I think a book like this get so much attention and is pumped by people as such a great book, it's almost a letdown because you have such high expectations before even opening it.
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New issue of Graham & Doddsville from Columbia's CSIMA:
http://www.csima.info/graham-doddsville/
Long, informative interviews.
That one says Fall 2015.
They have a Winter edition already out in case you haven't seen it yet, https://www8.gsb.columbia.edu/valueinvesting/sites/valueinvesting/files/Graham%20%20Doddsville_Issue%2023_Final.pdf
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How does his legal background help in the investment process?
My guess is he can get through the footnotes in about a quarter of the time the rest of us do. ;D
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It is perfectly fair to question Hussman's reliance on "hard, historically reliable evidence." (After all, he didn't forecast the March 2009 FASB 157 change.)
But it seems unfair to call him a permabear or question his duty to investors.
james22/original mungerville: Hussman is a brilliant individual, and a great stock picker, and I have no hesitation in saying that, but I still feel that his hedging and bets against the market were too early and too heavy handed at the time.
He would help his cause if he stopped those weekly market commentary's of his. Nobody needs that. All he's doing is putting himself out there, in the market's eye once a week. When you do that you leave yourself open to all the criticism he's getting.
Something like that is for ego alone.
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Toronto Blue Jays playoff ticket against the Texas Rangers.
Will happily spend the same amount next year if they make the playoffs.
We missed tickets by a few minutes from someone selling on Facebook. (a friend of a friend)
what all can you do with mygia?
Cancel cable and watch almost anything, including live sports through your internet connection on your TV.
Any good links to share about this? How is it different from Roku / Apple TV?
We haven't cut yet but there's a subreddit about cord cutting. https://www.reddit.com/r/cordcutters/
For live sports the threads at reddit are mostly all illegal streams, so how far you go depends on your conscience.
Just search "streams" on reddit and all leagues have their own subreddit about live games.
We're most likely going with a local guy who programs the Android box for all you would need. It comes loaded with the app for Netflix, Hulu, Amazon etc (you would need a subscription from those vendors) and all the other apps that allow you to stream via torrents or streaming sites (no subscription since it's illegal streaming).
From what I understand, Roku, myGica etc. come preloaded with all the subscription apps already on them but you would have to add any other apps to stream the illegal stuff yourself.
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Just curious why the 9% hurdle for dividend growth?
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Toronto Blue Jays playoff ticket against the Texas Rangers.
Will happily spend the same amount next year if they make the playoffs.
We missed tickets by a few minutes from someone selling on Facebook. (a friend of a friend)
what all can you do with mygia?
Cancel cable and watch almost anything, including live sports through your internet connection on your TV.
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We've hit our limit with Rogers so we're finally cutting. Most likely going with the local guy who programs the Android box and you get a controller for $120. He loads everything on for you that you could need.
I'd still like to find a source for Disney Junior for the kids though. So far, Disney has a lock on their content and the only way to get it is with a cable subscription.
So that will be my best purchase next month. ;D
My best one now is my 10" Acer tablet. I love it. It was on clearance at Walmart in the fall for $149. In all the reviews I found before I bought it said it stacked up well against the equivalent Samsung that was more than twice the price.
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I've been reading a lot of Cal Newport lately....
Here are my suggestions:
Describe the process, begin to end of the last new investment you've made.
Describe your average day.
What is different about your approach that yields better results?
What has been the hardest period for you in terms of self-doubt/performance/the mental game?
I always forget about Cal Newport but like rediscovering the blog.
These are my questions also. I always like hearing about peoples process from start to finish.
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Those massive drawdowns in 73 & 74 would have wiped out most highly leveraged funds like his. Charlie was a member of the Pacific Coast stock exchange and he had a light leash that resulted in his loans not being called. As withwith the Buffett partnerships, he may not have reported results to his partners until sometime after EOY 1974 when the markets had turned up in 75.
Therefore, a contra factual scenario would be that he could easily have been wiped out during that bear market.
How do you know his fund was highly leveraged?
I think it was said in "Damn Right" that he used leverage.
The British Columbia Power company was being taken over by the Canadian government. I think he said he borrowed as much as he could since a deal with the Canadian government is as close to a sure thing as you could get.
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I think that's a good perspective to have about the bias of the person who's advice you seek, or at the very least are forced to listen to. ;D
I went but didn't finish, so count me in the group who didn't go I guess.
I went for architecture but left after my 2nd year to become a general contractor and eventually built custom homes. And without a doubt those 2 years did me absolutely no good with regards to building custom homes.
I'd love both our girls to go to university but I at this point I'm not really sure why..............maybe it's just my ego as a proud dad.
Edit: you would think architecture and home building would go hand in hand. But the reality is, I would have been better off learning project management and some sort of interpersonal skills. Maybe as important as those, business skills.
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So would you try to save up using any of the tax advantaged college saving vehicles for them or just hold out and see what comes.
I can only speak from North of the border but we have RESP's to save for university or college. The government adds 20% per year (up to $400 I believe). If the kids don't go to post secondary the principal portion can be transferred to our RRSP but the governement takes their portion back.
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That 80% of the people on this forum should close their account and start indexing
I think a lot of people believe that other people should close their accounts and start indexing. 8)
To be fair, writser never said which side of the coin he is or should be on.
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Don't forget Vancouver Real Estate. Everyone thinks Vancouver RE is not a bubble since it's land constrained and there will always be demand from Chinese buyers. ::)
From everything I've read, it seems an even split among bubble believers and those who don't.
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That if Warren Buffett had only a small amount of money to his name he would invest his capital primarily in ugly cigar butts, classic Graham style. Not in quality businesses. He has even said this once publicly when asked by a student (there's a Youtube video), but I think most investors still strongly disagree with this statement.
I think the times were different when he did it. He had an information advantage that doesn't exist today. Genessee Gas was one IIRC, selling for $50 with $200 in cash.
He did the legwork that nobody else did to find these gems. Today every stock website in the world makes it very easy to find this kind of thing.
In the '50's this worked like a charm for him but today the net cash companies don't always work out.
But I think you're right that he wouldn't do that today but if he went back in time he would do the exact same thing.
I would assume Buffett of 2016 would be a micro/small cap investor looking for a fantastic CEO building a business to last decades.
Edit: Actually a quick Google search found this from the '99 meeting notes on doing it the same way or doing it different.
I guess I’d do it the same way: maybe I’d start with small companies and buy good businesses. -
Value and growth investing are not mutually exclusive, and just because an 85-year-old man isn't comfortable with tech stocks doesn't mean you shouldn't be.
And just because he built a huge part of his business with insurance companies doesn't mean everybody else should.
Not everybody needs to own an insurance company to be a successful investor.
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You guys spend a lot on cars. Let's see how many years I can drive for the same price you spend on one tesla.
2007: I paid $15K will drive it at least until 2017 (maybe longer): 2007-2017 $15K
2017: An Elantra is now about $18K: 2007-2027 $33K
2027: Probably about $20K now: 2007-2037 $53K
2037: $22K for new Hyundai: 2007-2047 $75K
So I get 40+ years of driving for the price of one Tesla or 20+ years of driving for the price of one $33K sedan or Chevy volt. I know there is gas savings to be had, but it won't make up that much of the difference.
How much will you spend maintenance over the same time? And fuel does make a difference.
The average driver will spend $2400 a year in fuel and the AAA estimates the average maintenance cost is 6 cents per mile.
Over 10 years assuming average driving habit that's an additional $36k, $24k on fuel alone.
The model 3 is estimated to be $35k. Lets assume he's off on this like he was on the model S for argument sake and say $40k. Typically the government rebate is about $8k from what I've read. So we're at $32k for a model 3.
I've read multiple articles from Tesla owners (maybe Eric can confirm) who have said the only maintenance is tires. Which is a wash since every car needs them. Even the battery is under warranty for 8 years as per the Tesla website.
But I'll also say we don't really know much about maintenance past 5 years since the car is so new.
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Buffett drives a Caddy my friend!
I'm going to go out on a limb and say he's not 85. ;D
Best car for value investors?
in General Discussion
Posted
We bought a new Kia Sorrento and the extended warranty was for 7 years and I think it was about $1000.
$1800 seems a bit steep, especially considering you payed $18000 for a used.