Jurgis

I must admit that I did not get it then and I do not get it now. I get Wayfair and own it, but RH not really. Maybe RH is the Peloton of furniture shopping or something like that. It would be very interesting to get honest opinion from Warren about RH. ? He should have insights from his furniture businesses. (Not gonna happen. Even if you buy the multiM lunch.)

I only had 1/3 of a share, so could not sell 1/3... ? I'm gonna ?? ftw.

@Spekulatius iz CoBF meme stonk picker extraordinaire.

I am going to be in NYC this weekend. I'm probably going to miss the meetup, since I have to tourist a relative at the time. Might be able to do a dinner on Sunday, 6/20. Dinner on Saturday is iffy. Will be wandering around the Met (or whatever you New Yorkers call it) Sunday from ~11 am, so if anyone's interested in art + investing at the same time... ? Feel free to PM about any of these if interested.

Thanks @patience_and_focus. It is a sad situation.

Net value (price minus mortgage(s)) or gross value?

"No politics on CoBF" is dead. Good job @Parsad ? * it's not just this thread. It's pretty pervasive.

Just learn from the best:

And this has been different for the last 10+ years of almost zero inflation how?

$DISH screwed up. Best case for them $CMCSA or $AMZN could buy them. Not holding stock or my breath though.

Thanks @bizaro86 and @Gamecock-YT. Yeah, I prefer cash back cards. Just got Bonvoy card in 2019 for the sign up and tier bennies and was wondering what's the best I can do with points. I'll try to use them asap. 2020 was a lost year on that. ?

Looking for some value investor wisdom. Any good ways to use Marriott Bonvoy points? I see NerdWallet valuing Bonvoy points at 0.9 cent per point ( https://www.nerdwallet.com/article/travel/airline-miles-and-hotel-points-valuations ). But when I look at their suggestions for Bonvoy point use ( https://www.nerdwallet.com/article/travel/the-many-ways-to-use-marriott-bonvoy-points ), they are at best 0.5 per point (some hotel stays) or 0.25 cent per point (gift cards). Conversion to airline miles are 3:1, which makes the points ~0.33 cent (depending on how you value the miles). Any suggestions of how to get anything close to 0.9 cent value? Any other great ideas? Thanks

An idea from FinTwit. Majority of business - "cloud" RE brokerage. There are some - likely zero - moonshots. High growth, high trailing OCF/FCF. There’s investor deck at http://expworldholdings.com/wp-content/uploads/2021/05/EXPI-Investor-Deck-May-2021-.pdf Majority of revenues/earnings are from their RE brokerages. So there’s a risk of RE downturn and a risk of them losing/churning agents, although they claim very agent-friendly terms (see deck). There is a risk that the company is promotional (see deck for buzzwords). Anyone has opinion, risks, gotchas?

It's impossible to predict 50 years. It is very likely that none of the specific companies will survive 50 years. Very very likely they will underperform unless they hit some AGI jackpot. But then assuming AGI is benevolent, you likely will benefit immensely even if you're not an investor in the company. With pistol to the head, I'd buy 40% IWF, 10% XBI, 50% VTI.

Does anyone have a good framework to analyze/value MRNA? There's the windfall revenues/profits for 2021, possibly 2022. Very much unclear what happens after that. Maybe they will have other (blockbuster?) products, maybe not. So, is there a way to value this or is this "too hard" pile? Somewhat OT: GILD in similar (?) situation was not analyzed well. ?

I'm sure Twitter personalities are just sittin' and waitin' for a phone from SYTE to ring. ?

Incident at Loch Ness - https://www.imdb.com/title/tt0374639/?ref_=nv_sr_srsg_0 10/10

Is it spending on internal projects every year? Then that's reflected in FCF yearly. Is it spending it via huge outlays every Xth year? Then you should somehow adjust FCF on the years when it does not have the outlays. How would you value the following: Scenario 1. Year 1-10: $1B OCF 0.5B capex 0.5B FCF vs Scenario 2. Year 1-8 and year 10: 1B OCF, 0 capex, 1B FCF. Year 9: 1B OCF 5B capex -4B FCF Is scenario 2 worth 2x scenario 1 because it has 2x higher FCF in year 10?

You are ignoring the fact that DISCA spent $2B cash in 2013 and $8.5B cash in 2018. Is there a difference between the following two scenarios: 1. Company A has FCF growth you showed with no acquisitions and no extraordinary cash outlays 2. Company B has FCF growth you showed with $10B spent in the meantime And if there is a difference, then is it OK for you to not mention the 10B cash outflow when you present the FCF growth?

Yep. Let's ignore the cash spent on acquisitions when calculating FCF. It's the win. ?

Bbbbuuutttt Malone! ? Nah. Just ?

Total market index. ITOT or equivalent. Although you probably can pick not-total-market index and do as well or better. My opinion on this is not strong. Bigger question is whether to allocate some part of portfolio to international. And if you do, then you may have to make harder decisions since international indexes have issues (inclusion/exclusion of certain countries, over/underweighting countries, etc.).

I pretty much agree with Spekulatius on this. I'd be more positive if HBO+DISCA merged before T gobbled HBO and if the then-HBO people ran the combined company. Now T kicked a bunch of HBO people, so you have a decimated company (HBO) and a moribund company (DISCA) trying to merge/compete/grow. Who is going to run this? Zaslav? ? Anecdotally, I don't see an attraction of DISCA content bundled with HBO content. I might not be the target audience though: I have not subbed before and I won't sub going forward. I would be interested in some HBO shows, but I'm a cheap value investor and I won't sub. ? Disclosure: I was Malone fanboy. I'm not anymore.

For US based investors, you might (should?) have majority of your investments in tax shielded accounts. At least that's the case for people I know and I don't think this is an exception. If a person is tax aware, they would start with majority of their investment money in IRAs/401(k)s and the growth from there may/should swamp taxable accounts in a lot of scenarios. That being said, taxes in taxable accounts is a huge headwind against most active strategies. Almost every time I sold something in taxable account, the right choice was not to sell. My taxable account is AAPL, BRK, FB, GOOGL. Even these are not "forever". I may agree with you that I should have bought ETFs in it instead.