cofabmd

Mr. Housel, having written The Psychology of Money, a book that has sold around three million copies worldwide so far, invests all his money in a Vanguard total market ETF. He says he lets compounding do all the work.

For a beginner, I would recommend reading The Rees Approach: A Beginner's Guide to Making Money in the Stock Market. This book is only one point of view about how to invest in the market for long term survival and success, but I think it's a valuable one. Others would be Margin of Safety by Seth Klarman (if you can find or afford it), Richer, Wiser, Happier by William Green, and everything Warren Buffett has ever written are good places to start.

The Rees Approach: A Beginner's Guide to Making Money in the Stock Market by Christopher Rees Some Amazon 5-star reviews: — "Update: I've re-read this book for a second time. It's an underrated masterpiece. Best appreciated when read in full, the author blends analytical, behavioral, and lifestyle takeaways about his investment journey while providing a specific, real-world blueprint for long-term success and risk management in the markets. Featuring both analytical, repeatable instructions for investing and raw tales like the emotion evoked during the depth of the financial crisis (and how the author bet big when the "blood" was in the Street), Chris Rees brings forth a timeless investment strategy tested over a long period." "This is one of the best investing books I've ever read, for both the beginner and the experienced investor. Chris Rees' writing touches on the subjects many investors avoid: Investing isn't easy. Being smart doesn't help. Patience and discipline are key. Behavior and environment is of utmost importance. Rees breaks down lessons like this into real-world, tangible examples, from resources used to strategies employed. Absent in the book are hubris, false promises, and shortcuts. But what Chris does deliver is game-changing." "Chris doesn't just know how to invest. He knows how to live life. I love how he included so much life experience in the book. This book is the culmination of decades of a life well lived, more than 30 years of market-crushing returns, and the potent ideas of an independent mind. For me, this book goes at the top of my list of favorite books, next to Richer, Wiser, Happier, 100-Baggers, and The Education of a Value Investor. I will re-read this book regularly." — “One of the best investing books I've ever read… this book goes at the top of my list of favorite books, next to Richer, Wiser, Happier, 100-Baggers, and The Education of a Value Investor.” — "If you follow value investing and people like Warren Buffett or Prem Watsa, this is a must read.”

„They say that patriotism is the last refuge to which a scoundrel clings/ steal a little and they throw you in jail STeal a lot and then they make you king.“ — Bob Dylan

http://www.snopes.com/photos/automobiles/unsoldcars.asp

-electrical fire in the cockpit of a recent Boeing 777? I think that's about as unlikely as most of the other theories out there.- "The cockpit-voice recorder captured a "pop" followed by a hissing noise, similar to the escape of pressurised gas, says the inquiry. "I unfastened the seat-belt immediately and stood up very quickly," the first officer told investigators. "At the same time the captain left his seat quickly. The smoke and fire were spreading very quickly. After that, the captain ordered me to get out of the cockpit."" The captain attempted to extinguish the fire but said: "The fire bottle was completely depleted without any influence on the fire intensity." Three years earlier an ABX Air Boeing 767-200 preparing to depart San Francisco suffered a fire in the supernumerary compartment behind the cockpit. The crew had similarly mentioned hearing popping and hissing sounds at the time. US investigators attributed the fire to a "lack of positive separation" between electrical wiring and conductive oxygen system components. This allowed a short-circuit to breach a combustible oxygen hose which fed a rapid fire. http://www.flightglobal.com/news/articles/egyptair-777-fire-probe-inconclusive-but-short-circuit-379655/

http://www.wired.com/autopia/2014/03/mh370-electrical-fire/ One of the smarter, more logical explanations.

Here's a link to a 2008 review letter by a concentrated value investor. http://www.tenstocks.com/Reading_Room.html It may be of interest.

If a CBF portfolio was housed on Covestor, board members (and others) could invest in it. Something like this: http://covestor.com/mco-investments/margin-of-safety

http://www.weisskoreaopportunityfund.com/cgi-bin/about/overview.pl

Weiss has brought to market a fund of Korean preference shares, which are trading at levels hugely discounted to their common shares equivalent. Weiss has invested in the Korean market for a decade, and although investors are familiar to its presence in the closed-end sector, The firm has never launched a UK-listed investment trust. It has only previously hunted in the space for discounted vehicles and turnaround opportunities unrecognised by the wider market. It raised gross proceeds of £105 million for the new fund, which is called Weiss Korean Opportunities. Weiss said the placing was 'significantly over-subscribed' and the vehicle began trading on the alternative investment market (AIM) today.

-Slim buys 8% stake in YPF.- He got the YPF shares through the default of a Petersen Group loan.

Sell or reduce a holding when 1. Holding approaches estimated fair value. 2. Market, sector or company specific risk increases. 3. Becomes overweighted in the portfolio. 4. Has a better, lower risk profile investment waiting. 5. Can lower overall portfolio risk by reallocating capital.

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