Liberty

That's pretty much how I look at things. The problem here, is that it's a choice between two great investments. I would put about 25% in this new one, but the one I would have to sell part of to do that I also love, so I'd a least want to sell it relatively high. I run a very concentrated portfolio and if I own something it means I really really like it, so that makes it hard to sell even if for something I also love. It's not a terrible problem to have because even if I missed this new one, I know I'd do just fine holding what I own now, but it's still this part of the investing process that I find most stressful...

Anyone knows of an easy way to track the average cost of patents traded or something like that? Based on the past couple of years' headlines, it feels like we're in a pretty big patent bubble.

That's what I'm telling myself. Even if it goes up a bit, if what I sell goes up even more, it'll be a great deal and I'll end up with about as much of what I want + more left of what I'd be selling.

https://twitter.com/#!/TweetsLMAO/status/189417076643991552 ;D

I would do that if I was in the situation you describe. My problem is that I don't have enough cash to take the big position that I want to take, so I need to sell something else, but everything I have is too far below IV for me to comfortably sell. So either I wait for something to go up a bit and hope that want I want to buy remains low, or I compromise and sell right now (too low) to make sure I don't miss this new opportunity. I know I should wait, but it's a bit stressful..

(warning: I'm not 100% sure what I want to say in this post, except to share this frustration) So I know what my next big move is going to be, I want to put a substantial fraction of my capital in something.. But before I can do that I have to wait for something else to happen, and it's frustrating.. Once I own something, I have almost endless patience. It could drop by 50% and if I feel my analysis is still valid, I'll hold it and probably buy more, no problem. I buy things that I know I could own for years, that's my style. But when I want to buy something new, I tend to have less patience, and get afraid that it'll go up a lot and that I'll have missed my chance. It makes me want to compromise on my plan (ie. sell something else a bit more cheaply than I should to buy this new thing). I know I should just be patient and wait for the juiciest, fattest pitch rather than just a nice fat pitch, and I know that even if I was to miss this opportunity, I'd do just fine with what I own right now over the long-term, but it's still hard, and I really don't want to miss this one. So anyway, I just wanted to share the frustration and maybe see if others here have the same kind of unbalance patience capacity (no problem with some situations, harder in others)...

Haha, silly Canadian, Americans don't read! Sadly, I don't think most canadians are any better... We don't have a representative sample here.

http://www.npr.org/blogs/money/2012/04/05/149997097/what-americans-buy?sc=fb&cc=fp Interesting to see the change over time. Would love to see the same thing for Canadian.

For those looking for a more advanced browser for your ipad, check out iCab. Great app! Very customizable, nice full screen mode, gestures, nice tab and bookmark management, speedy, dropbox integration, etc. You can see what it looks like here:

http://en.wikipedia.org/wiki/List_of_cognitive_biases http://en.wikipedia.org/wiki/List_of_fallacies http://en.wikipedia.org/wiki/List_of_common_misconceptions http://wiki.lesswrong.com/wiki/Sequences

Thanks.

The most important thing is not left brain or right, but to know yourself enough to compensate for your weaknesses and to accentuate your strenghts, whatever they may be. There is not a static you, your goal should be to grow as an investor. http://www.stanfordalumni.org/news/magazine/2007/marapr/images/features/dweck/dweck_mindset.pdf

Don't you think that a cure to biological viruses would be much better?

I still haven't finished reading the 2011 edition :P ;)

Yeah, Buffett never took over a company so that he could fire the CEO... NEVER. Oh, wait a minute... That's exactly what he did with Berkshire! And it's not exactly the thing he's proudest of...

“As time goes on, I get more and more convinced that the right method in investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes. It is a mistake to think that one limits one’s risk by spreading too much between enterprises about which one knows little and has no reason for special confidence… One’s knowledge and experience are definitely limited and there are seldom more than two or three enterprises at any given time in which I personally feel myself entitled to put full confidence.” That's basically my approach.

Pretty awesome. This is a great feat of engineering, much harder to do in a real world environment than lay people might think.

I thought this TED talk by MIT's Donald Sadoway was absolutely great. Most exciting new tech I've heard about in a while:

http://www.theglobeandmail.com/globe-investor/sinoforest/sino-forest-to-file-for-bankruptcy-protection/article2387148/

Kinda off-topic, but I'd like to encourage more people to use graphic avatars (see mine on the left). It helps to quickly recognize people visually when scanning a thread, and IMO it adds some personality to the forum :)

Near Ottawa, Canada

Here's a follow up by the same author: http://www.gurufocus.com/news/170053/how-warren-buffett-thinks-about-stocks

Out of curiosity, what didn't it do that you expected it to?

http://www.gurufocus.com/news/169950/how-warren-buffett-made-his-first-100000 IMO interesting article.

What matters most is how the record was achieved. I'm sure some people can do 10x a year on tons of leverage, but they all eventually blow up..