Gregmal

sold some EDIT

Probably the fact that there is significantly more clarity now and in some stocks, such as banks, only a marginal price improvement. The $17 low wasn't really an actionable price as it was more or less intra-day(s). Basically a low $20s number on BAC could be called the lows. So he's been a buyer at basically the same prices give or take 5-10%.

Why buy any bank? Just buy BRK.

The 298k number is for 6 months. Backing out the 90k or whatever from Q1, this indicates they repurchased well over 200k shares in the quarter, if I read it correctly. That is massive for these guys.

There is "ridiculously overvalued" and then there is "Im kinda uncomfortable about the valuation". The later is where I think Apple falls. Unless you are predicting a giant macro pullback, I dont see how AAPL doesnt at least hold its own. Further, if you sell, I hardly want to think of what it will take to become bullish enough to redeploy that capital, especially given what we saw from Buffett in March/April. Would probably be waiting an eternity. In which case, just stay the course.

4:40 mark is pure awesomeness! Yea, those are 100+ lb fish.

Looks interesting. If interested, check out the earnings release/info today. Pretty solid stuff. Board authorized a $75M repurchase program(vs ~$500M market cap). This is a great business with the risks being mismanagement and stupid acquisitions, but it seems thats been slowed down a bit over the past couple years. I'll try to start a thread on it soon.

Quote Graham, buy RobinHood. Go get em champ! EDIT: Oh yea I forgot! I dont respond to certain people but I respond EVERY TIME! LOL Speaking of Jokers...

LOL captain go to cash during the crash and sit on it through the entire rally now back at with it with his "if you look at it like this! I was still right" rhetoric. When you spend your time looking at all the wrong things its easy to be blindsided. Its telling that even now he/she/they chooses to attack even Muscleman, who's been amongst the most balanced contributors the entire time. Amazing what gets triggered when the info conflicts with the agenda!

I've found drinking a lot of coffee in the AM, and seltzer/water in afternoon helps reduce appetite and keeps me focused/fuller. I believe Jack Dorsey has endorsed and adheres to a similar approach as you described above as well, when it comes to fasting/eating 1x a day.

@BG, once COVID is done and we're out of Hurricane season. February is my target as King Mackerel fishing on the Gulf really heats up. Its only a 3/2 but there'd probably only be a half dozen folks here anyway as most are turned off by my frivolous engagement with the politics. Win/win for the thick skin! @Spek This depends on what your own perception on "risk" is. I have HO6 and wind coverage, run a little over a $1000 a year. But the main thing, and benefit is, that most of the typical stuff you'd think of is covered by the HOA policy. I mean you really dont even need wind coverage as when you leave you throw up the storm shutters and you're good. But most carriers in the area won't sell you a policy without wind coverage. All in, condo carry cost is about $14k a year. Includes HOA, insurance, taxes etc. In NJ just my property taxes are $14.5k and the home is in a similar value range. Two side notes. If you like the Keys or just want to explore, Cheeca Lodge is the shit. Used to be so much better a decade or two ago. Got really touristy/catered to the business travel, wealthy finance dude with a flair for European style after that. But still great and a gorgeous resort. MM 82. Yes, be forwarded, there's pictures of Clinton, Bush Sr, Ted Williams, etc catching massive Tarpon and playing golf there all over the walls in the entrance to the lobby. Stay away from Worldwide Sportman as there's a pic of Don Jr(among many others) out of a flats boat with a massive tarpon. Otherwise Worldwide is basically an aquarium that sells fishing/outdoor stuff with an awesome life-size replica of Hemmingway's Pilar in the center of the store and a sick second level bar/lounge that is great to watch the sunset from. Also cool is the Tarpon frenzy at the docks when boats come back around 3pm. Second side note. As the current hurricane rips through NJ/NY, its crazy thinking about how homes here get damaged(often badly) with 30-50 mph winds, while the ones in Florida can withstand 4x that no problem.

That would certainly explain the NY/NJ area death rates. And also explain why so many with obvious biases fell for it and assumed the rest of the country would follow. And also why the narrative has shifted from "see I was RIGHT, absolute number of cases and deaths rose!", when a month or two ago it was "FL and those states will be worse than NY"....

Most of the homes, especially in the Keys are built to avoid that. For instance where I'm at is roughly 8 ft above see level. And the units are an additional 10-12 ft elevated. Most of the complexes and homes look like the one in this link: https://blog.iese.edu/doing-business/2016/08/22/climate-change-and-the-florida-keys/ End of the day, if you are hugely concerned about global warming and not bullish on dredging/seawall type engineering solutions, its probably not the place to buy property. If you arent, there is hardly anywhere like it IMO, especially of you like fishing, scuba, island life, etc.

I think a general rule of thumb is to never mix business and friends/family. That is largely true, but RE is pretty darn simple and easy and also passive. Doing a hands on operation is fertile grounds for failure of the personal relationship though. Ive hired a couple "friends" before and you often run into an issue with entitlement and envy. Better to avoid. But going in on a property where the only major decisions are "dont overpay" and "how will it be managed", is pretty easy.

You seem to have limited knowledge of families... ::) Worst idea ever for non-trivial percentage of people. :-X +1, no +100000000000 That is just about the worst idea I've read here in a long time. Eh, it depends, IMO. I am the oldest of 5 siblings. I have had great situations with several, where rather than paying $1000 a month for shitty student housing, they scout the area, I supply the downpayment, they pay the mortgage, and then after 4 years or whatever, the property either gets rented or sold. The beauty being, many of these are great growth/rental areas, IE Gainesville, Philly, Orlando, Long Island, etc(this is obviously personally relevant but not the same for everyone). The kicker is you have(had) depending on the government programs available, the ability to get on the title via a first time home buyer program, at 3%. So Gainesville for instance, 2012, $15k down(including closing costs) gets a you in the door on a $150k home that is infinitely nicer than the comparable student housing unit. 4-6 years later, with no outlay other than the downpayment(remember the other part of the deal is the family member living there takes care of it), you've got a $250k place with the option to rent at $1500 or cash out and divvy up the gains. The downside is always there, but IMO limited when school controlled housing is "$x" and right next door is "your unit".

1) I've long maintained that Buffetts exit, and thus the step up of the successors, is the catalyst. To some, Buffett's departure is a negative. To me, its hard to say the greatest investor ever, leaving is a positive, but I think it is. This is not to be confused with saying that Warren is "bad" for BRK. But I think new blood sets this thing free. 2) As a shareholder, I'd prefer they pare down some AAPL at 21 vs 28%...but its not really material to me. They dont need more cash, so stay invested.

LOL yea, was looking at a Jersey Shore property last year. Memorial Day through Labor Day you're ripping $4-7k a week. Rest of year? $2500 a month.

Hi passing by distressed investor here without a dog in the fight. The answer is yes to all of the above three cases due to company specific issues that the initial March/April shutdown caused. Definitely March/April government induced shutdown, but these businesses all had bankruptcy in their futures anyway, its been visible for years. Or at least the high % of such. Although I dont really think a lot of investors even understand the ramifications of many of these bankruptcies. For sure, COVID has almost become an excuse to try and squeeze lenders. But the majority of these companies are still going to exist and have similar, albeit reduced, footprints. Its essentially a necessary gimmick.

Ah, Thanks. I've never been to the FL Keys. I've got to get down there someday. Yea, everything down there is referenced by mile marker since the entire collection of islands is only accessible via one road, which is US-1.

Meanwhile, Google uses MSFT's deal shadow to acquire a stake in ADT. Interesting move. Not really material though.

Microsofts biggest edge against the rest of the super techs, to me at least, is the benefit of seemingly sitting completely off the radar of this whole government initiative to harass the big tech companies. Imagine FB or GOOG trying to make this acquisition? MSFT will be a big benefactor of this in the M&A game. Google cant even buy a stupid watch company without a full fledged investigation.

Thank you. What does below MM 30 mean? What do you do outdoor in Utan, Montana, Wyoming? Shortly after Miami, I-95 turns into US-1. At the top of the Keys you're at around 100 and the end is Key West which is MM0. 100-75MM is basically tourists and fishing heavy, especially the 80's. 75-30MM is pretty much locals. A little blue collar and hick-ish. 30-0MM is probably one of the few candidates for a utopian community in the US, at least that I am aware of. Something for everyone, from culture, to food, to historical stuff. Fishing, diving, partying. People of all shapes, sizing, colors, and orientations coexist and everyone just gets along and wants to live life. Awesome place. I looked at this briefly and you are looking at ~500k for a fairly crummy Appartement and who knows how much for a house. RIP if you get a hit by a hurricane. I wonder what the insurance is for a house there? Also, for Muscleman, it would be a bit far from Seattle. Ive got a condo in Tavernier(basically where they filmed NFLX's Bloodline)$550k for 3/2 with $600 or so monthly maintenance and $4k a year in taxes. 90 minutes from Miami and 90 minutes from Key West. You'd be surprised about how differently the buildings down there are constructed. While the palm trees and docks get messed up bad, that buildings are typically capable of withstanding up to 200 mph winds. For instance Earnest Hemingway's home from the 1920s(originally built in the 1800s) is still good and well. It survived the big one in the 30's and it survived the big one a couple years back. As for muscleman, its just a suggestion. This is probably(even from what friends in the area tell me currently in a covid world), one of the most AirBNB able areas in the country. If you can "swing" working remotely, perhaps even a quote on quote, full time residence, for tax purposes, thats another benefit. Although like me, I doubt one would easily be able to go from Seattle weather to South Florida without an adjustment period.

Thank you. What does below MM 30 mean? What do you do outdoor in Utan, Montana, Wyoming? Shortly after Miami, I-95 turns into US-1. At the top of the Keys you're at around 100 and the end is Key West which is MM0. 100-75MM is basically tourists and fishing heavy, especially the 80's. 75-30MM is pretty much locals. A little blue collar and hick-ish. 30-0MM is probably one of the few candidates for a utopian community in the US, at least that I am aware of. Something for everyone, from culture, to food, to historical stuff. Fishing, diving, partying. People of all shapes, sizing, colors, and orientations coexist and everyone just gets along and wants to live life. Awesome place.

Depends on a lot. What do you fancy? If you just want sunshine, and have a little cash, Key West/below MM 30 area of FL Keys is unlike anywhere else in the US. If its outdoorsy stuff, a little bit of money(for coastal high earners) can get you a ton in places like Utah, Montana, Wyoming. If it's a combination of things, and perhaps tax related, look at the NV side of Lake Tahoe.

I agree with Sportsgamma. I looked at this several years ago at the request of a friend who owns a bunch of BDs and concluded that the share classes here make this uninvestable. The business is very "cheap". But once you account for that, there are plenty of other asset managers out there that at least offer you a vote. Others that may be interesting that are in similar categories would be NHLD and OPY. This has always been a tough space though. Bigger fish in the asset manager category thats IMO very ownable is AMG.