LC

So Mohnish is the Ronda Rousey of asset management ;D

Not directed at you, but the general question you raise: Well, then what is a good buy? A month ago the entire market tanked. OK - let's say BRK has totally sour views on banking, energy, and anything travel-related. What about the rest of the economy? Surely there were some bargains in unrelated industries? I think if they are holding their breath for desperate business owners to call them up, begging to sell out, then they will go blue in the face before that phone rings. If they can't find bargains as investors in public markets during a viral market rout, then go run a PE shop.

What happens when all the banks go full WFH and have to start paying/reimbursing employee internet access? Will they attempt to cut costs by taking on the Telcos?

This is the small bet I've made with XOM. <5% position but I would like to build to a 5% position in the next month or so.

True, but if the dividend gets cut, I'd say there's a good chance the market price of the stock gets hit (due to perception of liquidity issues), in which case you'd get a leveraged decline in the market price of the LEAP. Depending on your planned investment time horizon, this could be a significant issue. Yes that is true. But if the dividend doesn't get cut, your balance sheet shrinks as mentioned. The choice is whether you want to be exposed to market fluctuation (market price reaction to dividend cut) or balance sheet fluctuation. For me I think I will hold the stock until the dividend is cut (if that does happen); and then switch to LEAPs.

Another reason to consider some LEAPs is if you expect a dividend cut.

There are other factors: population density and volume of international travel being two that come to mind. Realistically my guess is a combination of all these factors.

It means that COVID attempts to infect all age groups, not just one particular demographic group. Obviously different groups are more or less susceptible to infection, but the virus is not specifically targeting one group vs. another.

To echo lnofeisone's point: The main objective is to avoid a conflict after you have passed, where beneficiaries are fighting amongst each other. Therefore, perhaps an option is to inform everyone prior to your passing and address any conflicts while you are still around to make decisions.

https://www.theguardian.com/world/2020/apr/15/tax-change-coronavirus-stimulus-act-millionaires-billionaires Covid stimulus bill allows pass-through losses to be deducted against unrelated income sources. Let no crisis go to waste!

At the risk of sounding misanthropic: I think the lesson here is that, this WILL happen again (could be next year, next decade, next century - but viruses do not go away) ; and we will NOT be prepared, we will not learn from this, and to think otherwise is to grossly overestimate the ability for a bunch of tribal nations and populist leaders to "do what is right". Look at China and the US to see what the world powers are doing: totalitarian misinformation vs. egotistical misinformation. Nonsense all around.

Over the last 1.5 weeks I dipped the toes into: goog ; wfc ; tfsl ; xom ; nlsn & mo (told myself i wouldn't but so cheap...) ; irm Some of these were repeat customers. At about 10% cash and can raise more if necessary over the coming months.

The one thing I've learned about marketing is to never underestimate human ignorance ;D ;D ;D

jeffsreng, is 18 years not long-term enough? a quarter of a lifetime? I agree with Paul's final statement. I was lucky in that the only thing I got burned on was Horsehead and it was a tiny loss.

I do agree with Spek that FL has seen boom & bust for decades. We bought foreclosure properties in St. Pete's for 40k in 2012, worth 5-6x that amount now. FL is one of the most volatile areas for real estate. That said, there is a point here regarding hedging tax/political climate. If you live in a state with a heavy tax regime, investments in states with an opposing tax philosophy may provide a valuable and cheap hedge. Choose your state carefully, of course.

Apologies way in advance for this one:

Wait, who are the 'they' you're referring to here, exactly? Could you spell that out a bit more clearly please? I'm guessing those free-wheelin' Bronfmen :D

First and foremost, hopefully his health improves. On his fund, what a turn of events. I presume the drastic swing (from “400% man” to blown up) is due to leverage. Goes to show you that objective #1 is to stay in the game.

Reposting this about a month later, now to see the effect in Europe: http://www.euromomo.eu/index.html

I know you guys hate him, but this is satire you realize, right? The worst part is that it's becoming harder and harder to tell ;D

An article on the generational economic impact of coronavirus: https://www.theatlantic.com/ideas/archive/2020/04/millennials-are-new-lost-generation/609832/ The Millennials entered the workforce during the worst downturn since the Great Depression. Saddled with debt, unable to accumulate wealth, and stuck in low-benefit, dead-end jobs, they never gained the financial security that their parents, grandparents, or even older siblings enjoyed. They are now entering their peak earning years in the midst of an economic cataclysm more severe than the Great Recession, near guaranteeing that they will be the first generation in modern American history to end up poorer than their parents.

I would spend more time investigating your underlying assumptions: Look for historical data to see which commodities respond to the risk factors you mention in the method that provides the diversification benefit you are aiming for.

I agree this is still a growth opportunity due to so much dislocation in the industry. It also may be useful to look from a supply side: this is an area where immigrant women have historically thrived. You can start working with an Associate's degree which is a cost and time friendly option (as it is more difficult to invest in 4 year programs for this demographic) and there are growth paths in the field.

;D Here's one: A teacher asked her students to share what their dads do for a living. Little Johnny says, "My dad's a stripper at a gay nightclub and he turns tricks in the alley way to earn extra money." The teacher was absolutely mortified and after class she pulls little Johnny aside and asks, "Johnny is your dad really a stripper at a gay night club?!" Little Johnny said, "No. He's actually a reporter for CNN but I was too ashamed to say that."