oldschoolsting

Thank you, dcollon. I'll take a look.

Really funny that you bring this up. I was just about to post a question about this. I really don't understand the tax situation and implications. Can you give me a quick rundown? And I guess you need to put some sort of discount on the cash when looking at these companies? Thanks

One stock loan desk told me that there is a currently a ban on shorting Irish financials. Has anyone else gotten this?

Possibly HCA. It is an Einhorn long and it was posted on 5/25. I can't read the writeup yet though. It's also the only post by that member.

How important do you all think that modeling skills are? Or should I say, how advanced should modeling skills be? The advice that I have gotten from several value investors that I highly respect is that the modeling is probably where I should focus the least amount of my time. The majority of my time should be spent reading (both books and financials) and getting a better understanding of businesses. I'm under the impression that the "valuation" should be a fairly simple process and most of the folks that I talk to don't put a lot of weight on complex dcf models. I have a Wall Street Prep program but didn't finish as I felt my time was better spent elsewhere. What are the thoughts around here?

Great for you, Shane! That awesome. And thanks for sharing. Best of luck on Wed! Ed- I definitely see what you are saying, but I think there is a difference in the guys who want to be BSD's at Goldman creating new financial products and the folks that are passionate about understanding businesses/stock picking and find that they can do that as a full time job. I'm guessing that the latter group is who you find here. I'm really beginning to understand that you have to love your work or the days just get longer and the years shorter.

Hey Shane- How are things going with this? I know that you said in a different thread that you are hopefully starting at an investement firm soon.

Here is an email that I have sent to some friends in the past: For all three levels I used the Stalla study program. Schweser is def the most popular and less expensive, but I really liked Stalla. I guess you may already have one of these...if not I suggest using one. The CFAI official books are good for practice problems (I didn't use them until L3) but very dry. Also I used the cd-rom self study program rather than live classes. I liked being able to do things on my schedule and didn't have trouble making myself do the work. Being able to watch videos was also a great way to break up the monotony of reading some really tedious text. Peter Olinto is one of the Stalla instructors and does a good job of making things interesting. Iif you follow a program and put in the work, it should be very helpful. One of the best general tips I can give you is to leave plenty of time to review at the end. This is probably the most important time of studying. I'd say leave 3-4 weeks after your done with a study program to go back over everything and see it again in the last few weeks. If you're like me, you'll be surprised how much you can forget from the beginning of studying to the end. I would take the last week of work off before the test and review all week. Work a lot of practice tests (online from CFAI are best) the last week and touch up on any weak spots. Also check out www.analystforum.com. I never posted on there but it is a great site to see what other people are doing to prepare.

That's right. He discusses it in his Ivey presentation...it's been a while since I have watched. Btw, Winters seems like the nicest guy in the history of nice guys. http://www.bengrahaminvesting.ca/Resources/Video_Presentations/Guest_Speakers/2010/Winters_2010.htm

The Fighter was great. Bale is the best actor out there these days in my book. (Has Ed Norton made any good movies lately?) Bale's physical transformation from the Machinist to Batman Begins was insane...and probably terrible for his health. http://www.associatedcontent.com/article/53457/christian_bales_weight_loss_for_the.html?cat=40 His dedication is actually pretty inspiring. I take my motivation anywhere I can get it! Has anyone seen Exit Through the Gift Shop? It's got great reviews and is supposedly pretty clever.

Eric- You bring up a good point and thanks for the link! When I began my "self-experimentation" with cutting out grains, sugars, etc, I began taking fish oil and eating grass fed meats. Also have you considered taking vitamin D as a supplement if you aren't getting much sun? http://www.marksdailyapple.com/vitamin-d-sun-exposure-supplementation-and-doses/

I'm excited to see Taubes, DeVany, paleo, etc. discussed on this board, but not at all surprised. I think that it is somewhat of a thinking man's diet. I've wondered if anyone else here was into the idea, but since I'm new, didn't want to post and immediately earn a spot at the weird kids' table. I read Mark Sisson's blog, www.marksdailyapple.com. He follows the basic principles of the other guys mentioned. His recommendation is a somewhat modified paleo diet. I began following this last February with great results. When I started, I did it as an experiment and didn't completely research it. While this is definitely against my nature, it's been nice dropping about 20lbs that I didn't even realize I had to spare. (I don't think I have lost much muscle at all btw.) I've been trying to learn more and more as I go, but don't quiz me yet!

Hey guys, I just picked up the Wiley GAAP book to use for reference when going through financials. Has any used this as a reference or just get a better understaning of financial statement analysis? I have a decent FSA understanding from the CFA program but I can always use some help in this area and the nuances of different industries' accounting. Thanks! http://www.wiley.com/WileyCDA/WileyTitle/productCd-0470554398.html

Packer- I'm a little confused. Can you explain? Thanks!

You may want to take a look at Options as a Strategic Investment by McMillan if you haven't already. I haven't read it but I know someone who has used it to implement a ton of different strategies. It seems to cover every combo imaginable.