NewbieD

https://www2.deloitte.com/nl/nl/pages/innovatie/artikelen/quantum-computers-and-the-bitcoin-blockchain.html It seems there already keys believed to be resilient to early quantum computers. All these old lost keys probably not though. Tick tack..

20 years from now BTC security will be long since broken by quantum computing.

I was up 138% in SEK. A little more in USD. End march I was down -25% or so. Best year I had since I started tracking in 2012. Now up ca 2500% since 2012-01. Traded quite actively since Covid. Had some big winners related to online gambling in the US in Kindred, Net Ent, Evolution Gaming, Kambi. Also made a big purchase in a Real Estate stock that tanked when the CEO was investigated for insider trading which I judged to be immaterial to values that worked out (SBB B in Stockholm). Condolences to John and anyone else who've had tough years in the health & family departments. My old man with cancer tackled covid well and found a good treatment which is a relief since we fairly recently lost my mom to another cancer way too young.

They have a job posting for Head of Audiobooks up 8)

I thought insurance companies tried hard to match fund, avoid duration gaps. Yeah I believe this is often the case. Especially in life insurers where interest rate risk is a major risk component from the time horizon of 12 months due to the discounting of long liabilities. 12M is the risk horizon for all models at least within EU/Solvency II. I guess it's the same in the US? I work in a P&C insurance co and our risk is more closely tied to mark-to-market value changes of assets and variability in insurance losses themselves. Most risk models are pretty short sighted...and from what I've seen they don't incorporate how the business prospects changes in different market environments. It's all focused on the balance sheet. E.g. that people might not buy new cars to the same extent when the stocks have crashed is an effect not captured.

See now that the question was what would happen with decreasing rates. Well. It depends on split of underwriting profit to investment profit. The investment profit might decrease a bit if reinvestment rates decrease, but it can be a slowish process depending on duration of investment book. A large equity position should be beneficial. The value of the underwriting profit should react positively due to lower market discount rates. So I would go for a low combined ratio with little volatility, would guess in a lower rate scenario they're gonna get more expensive relative to less quality books.

The single most important factor to evaluate is probably the duration gap. Let's say you have long duration liabilities that are not indexed to inflation, or where the inflation index might not keep pace with increase in rates. And you have short duration assets of high quality. If rates unexpectedly increase your liabilities will shrink a lot. Your assets will be relatively unchanged in value. See here for a better explanation: https://www.investment-and-finance.net/financial-analysis/d/duration-gap.html There are companies that have vastly negative duration gaps and which will react quite positively to moderately increasing rates. Mostly life insurance but also some P&C insurers. In the nordics the P&C insurers have largely been able to compensate decreasing investment returns with improved underwriting profits. My guess is many would do well initially if rates increase. Some claims will have inflation but also parts of the insurance book has capped sums and/or the premium is indexed to a sum which will be increased yearly in line with inflation e.g. the turnover of the business or replacement cost of a house.

Didn't Zerohedge just get banned from Twitter for spreading false info about this? Twitter is a censor hell, just like Facebook. They've become too big and governments use them like they use their other news outlets: propaganda and controlling their narrative of the truth. Luckily you can still visit websites directly: www.zerohedge.com If that ever gets stopped (there are precedents in the western world), there's always the old trusty VPN solution. True, but their income is probably down a lot from these bans. Majority of people can't be bothered to VPN. And when the majority are bothered enough to do it, that too could be targeted.

This has kept growing well during the last 18 mths, feels like they will keep delivering for many years. Presentation from first Capital Markets Day held yesterday, here: https://investors.storytel.com/sv/wp-content/uploads/sites/3/2020/01/storytel-capital-markets-day-january-2020-1.pdf

Vitrolife could be worth a look for those looking at IVF. Any other suugestions?

+28%. First year since 2011 that I didn’t beat my index (OMS All-Share cap GI) with >10% and actually lagged. A bit too defensive, estimate 75% net long and had one conviction bet go down 30%.

http://adventuresincapitalism.com/2019/08/12/altisource/ Trying to read up on this. Any bear-case refelections?

Your broker should give you that option - at IB you get emails with links for electronic voting, but your broker may be different, or may be sending you the proxy/voting card in the mail. Thx for the info. I have a european broker that doesn't send these things. I feel bad if my passivity is helping this ****show perpetuate itself. Will try to read up on how to do this.

I would like to vote against everybody but Mittleman. But I have no idea how to? Is there a form somewhere?

Nice to see the buyback; I also increased position last week. Would guess they implement this at the maximum allowed rate. Thanks for sharing the link on the case, samwise - entertaining read, and informative. After reading about the IT deptmt disorg I want them to sell assets even more. Mittlemans shouldn't be happy about Felschers fate given they seemingly loved the guy.