LC

Stan Lee's greatest cameo was the small part he played in all of our lives :D

Current state of robotics (Alibaba warehouse) https://i.imgur.com/MwQiJ5K.gifv

I wonder if we have another other quants here on the forum?

FWIW for vanilla products a standard is to use trinomial tree with persistant skew. Plenty of documentation online. A better place for these type of questions is probably here: https://quant.stackexchange.com/

RIP to a guy who created so many dreams and memories for kids, and adults. And who created a wildly successful and profitable franchise! Incredible what he accomplished. I saw someone posted this today about him and it just strikes me as awesome: https://i.imgur.com/DsKOfFc.jpg

1 - there are ways to value long dated derivatives taking this into account 2 - this may be an interesting starter read: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.613.1657&rep=rep1&type=pdf

https://www.cbc.ca/news/business/woman-fights-bank-for-financial-records-1.4895631 OBSI is a non-profit, independent consumer dispute service started by the federal government in 1996. It now only investigates two of Canada's big banks — BMO and CIBC. The three other big banks — Scotiabank, RBC and TD — jumped ship from OBSI and moved to ADR Chambers Banking Ombuds Office, a private company. "We have a situation where essentially banks get to choose their referee," says Morris. "And they're consistently choosing the referee that investigates fewer complaints, that finds fewer of those complaints in favour of customers, and has less transparency about their findings."

This is correct.

Hahaha excellent :D

You are definitely worth more alive. Thanks, she knows it but I like hearing her say it ;)

Cute concept but will never happen without enforcement. The human spirit has both good and bad and for every Buffett and Munger there's five more guys who will hide and hoard their great-great-great-great-grandaddy's fortune.

No good slacker. Just messin' ;D ;D I keep telling my wife to cancel my insurance because it will provide me incentive to never get sick or injured. She says I'm worth more alive than dead but hasn't shown me the math to back it up :P :P :P

Well Steve I don't know you but Jeff has a special place in my investing heart. He had a series back in the day of trying to buy a retirement home and convert it into rentals. Like a 4 part series and it was just brilliant. In general I'm sad to see you having failed in this venture - but kudos on the announcement and putting it out there publicly. I was never a SYTE shareholder - just a spectator. But from my seat, I wish you the best with the asset management business. Would love to see this thread filled with good news!

Oh man what a sh1tshow we've got here. I periodically pop into this thread to quickly catch-up, since I remember when SYTE was being written up when Frank? ran it and then these guys came in and took control. Jeff is ragnarisapirate, right? I think that was his name when he wrote about RE acquisitons. Anyways, my memory is obviously a bit sloppy and I don't know all the details of what is going on here, but: My take is (1) they couldn't manage an HVAC business (2) they couldn't manage a RE portfolio These people do not seem like "get their hands dirty" kinds of people. Both (1) and (2) require experience. You can't just walk in with a checkbook and do it. I guess they found that out the hard way. So now we're left with (3) an asset management business. What's the business model here, they seed managers for a take in the future? What value do these people bring to the asset management business. I'm not talking about Keith because I've met him and he's a stand up guy who has a circle of competence and can work. I'm taking about the guys seeding him. What the hell do they bring other than cash? Can they help with marketing and introductions to funds of funds? It doesn't seem like it. So are they just tossing cash at some managers, walking away, and hoping 1 of 10 strikes it rich? Isn't that similar to the playbook for the HVAC and RE businesses? Throw money at it? What value do these people add? And if you have to respond with the words "scale" or "platform", then you are fvcked!

Agree with the comments here. As time goes on your entry price matters less and less. Aim for reasonable and not a screaming buy, or you may miss out. If I can buy better-than-average companies at below-market multiples, that is my goal. If there is a dividend I am even more happy. Don't ignore tech. If you can identify tech companies with a higher-than-average rate of survival (google or apple perhaps?), I would not turn a blind eye to that area.

https://www.telegraph.co.uk/technology/2018/11/03/dozens-us-spies-killed-iran-china-uncovered-cia-messaging-service/

BRK and Cash, about a 60/40 split Not for lack of ideas or anything, but I'm a year into a new house and spending most of my time (and cash) on projects. Fun :D

Got any proof?

For (1) I disagree with grouping value investing and index investing into the same bucket. They are not the same. "Value investing" is a meaningless phrase. It has no standard meaning, it is different to every manager. As Heiko mentioned, a "value" strategy could be statistically defined and implemented in an automated fashion - like a quant strategy. I personally believe Rentech uses value strategies as part of their algorithms. So I am having trouble with this question. Why don't fund managers buy indexes? Some do - see Vanguard etc. Some do not because it would put them out of a job. You say "better and more well-established" - says who? All the baloney that value eventually outperforms XYZ is just marketing. I buy into it - but there are countless billionaires who disagree and their pocketbook trumps mine by a longshot. It's like screaming at the crowd, "If you only did things my way, I would be rich!" For the second question, it's a mix of all. Hell, luck probably plays a role as well. Plenty of great managers with low AUM out there. Plenty of great managers with high AUM out there as well. Same with shitty managers. My problem with fund managers is consistency. Only a handful are great across decades. Even less are accessible to me as an individual investor. And it's difficult (for me, impossible) to pick "the next one" - so I lean heavily on Buffett/BRK while he's around and plan to do the rest myself.

Using data from 08-16 is not totally biased. 08-09 was a huge stressed timeframe. The data there will reflect that. Same with areas of 2010/12. Additionally if they are using global data, other countries have experienced stress during this timeframe. There is a sales pitch behind tons of things. Value managers are pitching their funds - the majority of whom underperform. Being a value investor does not guarantee outperformance. Being a quant investor does not guarantee underperformance.

Also it's a good idea to avoid retirement states where these lecherous cretins prey. It may be fine to live there to collect low/no state taxes, but keep your assets in a trust elsewhere. Finally, screw the corrupt assholes who are involved in all this. The judges, doctors, lawyers, etc. All of them can rot in hell. Makes my blood boil.

Bought more BRK a few days ago. Easier than updating my forum signature.

Holy crap this is some bullsh1t of the first degree. Truly terrible - and as the article mentions the problem persists in other retirement areas. I can't imagine what I'd do if someone tried pulling this on my folks.

Have to look deeper at revenue mix as well.

Thanks for your comments on this one. Has been on my watch list for a while but had nothing liquid, that is changing. Cheers.