given2invest
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Posts posted by given2invest
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Someone should put on a telethon for them.
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This is a genius plan and yet somehow CNBC found some ahole to refute the idea to its core today. I was shocked at his statements and position. America is blessed to be in a position where successful business men with $500k in cash to their name would consider acquiring US real estate and moving their family to a new country just for the privilege of obtaining a visa.
agree
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The hindsight bias has been thick here of late.
Right? Also this guys Apple thesis was not at all on the mark with what happened. He got lucky not right. He also probably sold when it went up 50%.
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This has been a good thread, I will toss in my input here as well.
I am 35 married with 2 children ages 3 and 2
Own a house free and clear and two cars
I own my own business and it pays for extreme high deductible health insurance (10,000) and cell phones
Estimated annual expenses
Property taxes - 2000
Insurance on house and cars - 1800
food and other household items - 3600-4000 - can't seem to pin this one down and it changes with kids all the time.
Clothing - 400
car repair and gas - 2500 - this is an estimate because we just moved and haven't established a baseline, I now walk the 9 blocks to my office.
Health care - 2000 on an average year, when we have a new child it jumps
Entertainment, eating out - 600
Utilities, gas, electric, water, waste - 1500 no home phone and our cell phones take care of our internet at home.
this totals out to around 15,000 per year, I am sure I am missing something here.
there are some things that are left off of here that are very inconsistent:
Home repair - this year I have put around 15,000 into home repair but don't expect it to always be that way.
Travel - I believe in mixing business with pleasure so sometimes our travel expenses are mostly covered by the business and frankly with the children at the age they are we haven't traveled much outside of business for the last 3 years.
400 for clothing? 600 for an entire year of entertainment and eating out?
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Hey guys,
I wanted to give you an update.
I went to my parents place tonight. Mom made some vegetable soup and I got leftovers. 8)
Let me give you my update: Still sounds awful :P
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There were $3.3 billion in other one-time charges not mentioned in this zerohedge piece (besides the $2.2 billion loss on private equity investments they do acknowledge). Intelligent individuals can have a debate on the true "one-timeness" of these charges, but it seems that if they discount all the one-time gains, they should at least mention all the one-time losses.
Won't happen. I remember all the positive things happening at Fairfax or Steak'n Shake, and there was always somebody pointing to how crappy the results were or how this thing is not going to survive. They don't see it until they look at everything in hindsight, and then they say how could anyone have known for sure! It will be at tangible book by some time next year, and at multiple of current tangible book by 2015-2016. Cheers!
I wouldn't be surprised to see zh hedge fold up shop next year. or at least dissapear into insignificance. the doom and gloomers will be looking for work after it is examined just how wrongly they advised investors in 2011.
Haha, zerohedge is so popular, it's not going anywhere. You're way off here.
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I just walked outside and there's two more roosters flopping around on the lawn. She's in there wringing their necks bare handed right in front of the kids! That's more than I was willing to do.
"I'm doing all of them (the roosters) I just decided" she says. I tell you... I married a tough lady.
Your wife is killing dinner with her bare hands? That's awesome.
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Oh, I forgot to mention that even if you eat as healthily as possible and live as frugally as possible, you will probably only add about 10% to your lifespan. That 10% comes at the end, not in the first few decades. Who wants to die at 110 rather than 100 years of age ? ;D
I couldn't agree more.
My wife is 44 and we found out this year that she is diabetic (type II). She's not going to make it to 100 on candy bars.
Now we're finding out about using hulled barley as a rice substitute. Fun stuff.
Yes, changing your diet because of a specific medical condition is of course different. But there is wisdom in this thread from both sides.
He who dies with the most money doesn't win; though he who has to work till the day he dies doesn't win either. People need to find a balance that makes them happy. I completely agree with the point of view that one should spend money on loved ones, vacations, good meals, etc. You don't need the $2000 suit but one thing I've learned is that $10,000 when you're 22 is way more valuable than $100,000 at 32 and $1,000,000 at 42, all things being equal :) Enjoy your youth and the money if you have it! Go see some good concerts, go see the world. You'll never get your youth back.
I've always been in the money management business but the last 3 years I've been doing it all on my own, semi-retired if you will. I didn't necessarily choose this route but it has worked out for me so far, though each day brings new challenges. I definitely don't consider this work while I did consider it work before. I'm in my early 30's and couldn't imagine doing anything else.
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Fantastic Post! I love truffles!
Truffles aren't bad for you...just expensive! I love them in my mushroom risotto! I had a fantastic mushroom and chorizo omlette with black truffles at the Beverly Wilshire a few weeks ago as well.
Eric, after reading this, how could you become a vegan? ;D Cheers!
Parsad you missed the most exciting thing at the Beverly Wilshire: CUT By Wolfgang Puck.
It is the only 2 star Michelin Steakhouse in the world!
Menu:
http://www.wolfgangpuck.com/content/files/foodmenu_CUT%20MENU%20WEB%20Spring.pdf
Enjoy!
I ate here in Singapore. It was fantastic.
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Oh, I forgot to mention that even if you eat as healthily as possible and live as frugally as possible, you will probably only add about 10% to your lifespan. That 10% comes at the end, not in the first few decades. Who wants to die at 110 rather than 100 years of age ? ;D
I couldn't agree more.
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Being 22 is very different than 32 which is very different than 42 which is very different than 52 which is very different than 62.
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bump. this is a great thread.
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Yah, if he's happy that's great. I just said it sounds awful. Haha.
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Must be really fun to date you ;D
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that sounds awful ;D
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I think my "all in" total expenses are around $6.000-$9,000 a year. That is for food, housing, gas, insurance, everything.
And I thought I was frugal, ;D , where do you live?
Without a girlfriend or wife, I can tell you that.
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Tough poll because really need to know whether people have children, private school, etc. A 22 year old on this board will have a very different profile than a 42 year old.
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he made himself $5b personally as an investor. He manages $20b. That's Pretty darn good in my book!
cheers!
He made himself personally $5b LAST YEAR. He made billions more in 2009.
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Here's a different take on the Netflix change..basically that NFLX separated the businesses because they were in talks with Amazon to sell the streaming business, but Amazon backed out so they're nixing the change: http://blogs.wsj.com/marketbeat/2011/10/10/netflix-no-more-outperform-for-you-says-wedbush/?mod=yahoo_hs
I disagree with their theory. I think they were in talks with someone to sell the DVD business. When the market cap was twice+ what it is now selling off the DVD business made all kinds of sense. They could get a lot for it, they could use the cash to buy streaming rights for the streaming business. Now that the stock is so low, you could buy all of Netflix for a lot less than they probably expected to get for just the DVD business earlier in the year, it just doesn't make sense any more to sell it. If it was the streaming business they were planning on selling they would have changed the name of the streaming business (to streeemster or something equally ridiculous I'm sure) not the DVD business. Its all moot now anyway.
I agree the theory is dumb. Further, they could have announced the name changes simultaneously with a definitive agreement to sell one or the other, if that's what they wanted to do. They didn't need to first split the business then sell it. Regardless, the business should never have been split in the first place!!!
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hindsight is 20/20
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Apple is priced to perfection.
You realize if you strip out its cash, Apple is trading for only around 8x next years expected earnings (as well as trading for under 5X cash), right?
When has a multiple of cash been a useful valuation metric?
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ABC too now! Horrible news. Just terrible and a real loss.
http://abcnews.go.com/Technology/steve-jobs-apple-ceo-dies/story?id=14383813
That's the first post I've seen of yours in a year that didn't end with Cheers!
RIP Steve Jobs. Thanks for all you've given this world.
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At some point Parsad has to be fully invested cause every day the market goes down he shows up in this thread posting about how happy he is he got to add to his holdings ;D
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Hester wrote on Sept 19
Interesting thread.
Costs (customer and content) are rising rapidly, customers are starting to leave, the business model is looking broken and is undergoing a makeover, the CEO is inexperienced and has handled the price increase horribly, analysts targets are still too optimistic, the content providers are realizing they deserve some of Netflix's profits... And yet even after the 50% fall this stock is selling at an extremely rich valuation and is pricing in aggressive growth.
The transition from a shareholder base full of momentum/growth investors to a base full of value investors will be VERY painful for the stock. I'm short.
As of Sept 19 at the latest...
BAC Closes @ High of Day (Only Second Time Since March 2011)
in General Discussion
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lol @ this thread