Liberty

There's a big difference between anonymous and pseudonymous. If you keep the same alias for years, people get to know you just as much as if you were using a "real name". A lot of the best accounts here and on Twitter are pseudonymous, but we know who they are because we've been following them for years, even if we don't know their real names.

Niece piece about the dynamics of network effects powering platforms (Uber, Facebook, Amazon, Google, Apple, Didi, AirBNB, etc): https://hbr.org/2019/01/why-some-platforms-thrive-and-others-dont h/t @bluegrasscap

Some nice work showing capital deployed by CSU in previous years, this one ex-dividends: About 102% of cumulative.

It's fun.

I don't own any, but I manage my wife's account, and she owns some.

So they bought back 0.2% of shares... Let's have a look at share count over time:

It's also on my list, with the Model 3 and the Kia e-Niro. Why is the LEAF your 1st pick Liberty? Model 3 is probably too much car for us and we wouldn't want one of the loaded models anyway, so I'm not sure what the wait would be on that. We'd like a hatch door in the back, when carrying stuff, and enough space for the kids. LEAF seems to fit our criteria so far. But if we end up waiting a couple years, maybe by then other options will be available, or maybe cheaper Model 3s will be out.

Have you looked at the transcripts of the recent calls and investor presentations? I remember them talking about it multiple times, but can't remember with enough precision exactly where to point you to the right spot.

I've been buying things on Amazon since about 2002, and I think I've bought more from them every single year sequentially with a pretty big acceleration after we became Prime members. Hard to think of another retailer where I've bought more every year. Costco has a nice share of spending too, but it's more constant from year to year.

I get about 10% annualized on my napkin math, but I might not be taking into account all the A/NH shares if they're not all included in the filing number (as previously discussed). Is this the adjustment you're making, or am I making some other mistake?

Thanks for doing the math, Dynamic.

A/NH filing for what they sold into the buybacks last month: https://www.sec.gov/Archives/edgar/data/914545/000089924319000712/xslF345X03/doc4.xml

We don't have a general electric car thread, so I'll put this here. Nissan has finally unveiled its LEAF e+ with longer range: https://newsroom.nissan-global.com/releases/190109-00-e?lang=en-US&rss https://www.greencarreports.com/news/1120780_2019-nissan-leaf-plus-revealed-226-mile-range-quicker-acceleration https://www.greencarcongress.com/2019/01/20190109-leafe.html Decent chance that this is my next car.

Another one at TSS: https://www.totalspecificsolutions.com/about-us/transaction-updates?tid=35 Once again, @Pearnick beat me to it, so hat tip to him/her.

https://arstechnica.com/information-technology/2019/01/almost-500000-in-ethereum-coin-stolen-by-forking-its-blockchain/

Nice piece on Julian Robertson and the crash of 1987: https://www.insecurityanalysis.com/writing/2018/12/18/a-test-of-conviction-julian-robertson-and-the-crash-of-1987

I guess this will end this thread: https://www.cnbc.com/2019/01/06/sears-rejects-eddie-lamperts-bid-to-save-company-will-liquidate-.html I'm sure there's a lot to learn by re-reading (or at least skimming) this thread from the start. It's a nice case study for a complex, controversial company that in the end didn't work out. Reminds me of the Buffett line about the reputation of the manager and the reputation of the business...

New acquisition at TSS: https://www.totalspecificsolutions.com/about-us/transaction-updates?tid=34 h/t @Pearnick

https://stratechery.com/2019/apples-errors/

"S" years in the cycle have always tended to be slower, though this time was different, with the XR and XS Max adding new form factors.

Thanks for these writeups, you obviously put a lot of work into them and they are a great addition to the board (even when about companies on which I have no opinion).

https://spectrum.ieee.org/computing/networks/ethereum-plans-to-cut-its-absurd-energy-consumption-by-99-percent

One more at Jonas, in England this time (h/t Pearnick): https://www.jonassoftware.com/About_Us/Latest_News/Jonas_Software_Announces_the_Acquisition_of_Minted

Maybe people are just more honest now and sample bias has been reduced?

Article from 2011. 8) What can I say, I'm a slow reader...