Liberty

https://skift.com/2017/05/25/the-direct-booking-war-is-a-myth-at-least-in-europe/

And again... And again...

Just thinking out loud: I know that what matters is the underlying business, IV, stock price doesn't matter, etc.. But at some point the stock price matters, because that's how you realize value in the end. So does it bother any ALS shareholders that the stock has basically been flat just above $10/share for 10+ years (with that big spike and then crash around 2007-2008 cancelling each other out)? If IV has been building at a high rate during all that time, doesn't it mean that those who bought around $10 in the past massively overpaid? Or was it undervalued then (when the company was doing buybacks) and it's just much more undervalued now? Or did maybe the IV not go up quite that much during that time (commodity cycle impact, China cycle didn't last as long as expected, etc?)? Why is the market unwilling to assign much more than C$10/share to ALS? Just Mr. Market being crazy or maybe this business model is tougher than initially thought? I'm not saying I know, I've just always found it interesting that apparently nothing can unstick this stock for $10-12 even over what most would consider a decently long period.

So what did they say about CHTR yesterday? :P

Yeah, but any occasion to hear a Q&A with Maffei and Malone is worth listening to, IMO.

It isn't? That sucks. Would love some notes or a recording.

Fiscal Q2 is out: http://www.businesswire.com/news/home/20170523006478/en/HEICO-Corporation-Reports-Record-Net-Income-Operating

New piece by Ben Thompson about cryptocurrencies and shared myths and tulips: https://stratechery.com/2017/tulips-myths-and-cryptocurrencies/

Sometimes the value of the lesson learned from a mistake - over the long term - is higher than actually not making the mistake. I don't know if it's the case here, but hopefully that offers some consolation :)

Missing the forest for the trees. You know what he meant.

For someone living in Quebec where there's a Couche Tard on every other street corner, it was probably more obvious. I missed it too, but mostly because I felt it was outside of my circle of competence.

It can certainly be played that way, but not if you want to actually ever feel sustainably happy and satisfied and fulfilled, IMO.

http://thehappyphilosopher.com/single-player-game/ Good read, lots of wisdom in there. Relatively short but covers lots of ground, lots of "idea hooks" that you can follow deeper. Thought some here would find it interesting.

Thanks. I saw that book mentioned on a French-language forum and added it to my list, but haven't read it yet. Wasn't sure if it was actually worth-reading.

No idea where the insecurity is coming from, I feel like I missed a thread somewhere. Personally, I'm just not interested in pharma supply chain right now, so that's why I haven't really commented on anything in that field.

Give www.rocketfinancial.com a try.

Masochist? Aspiring bagholder. Couldn't think of a faster way. :-[ You could always lever up with margin :-\

Masochist?

SHLD HCG CXR

For those interested in the payment industry, here's a new presentation (361 pages!) by Value Seeker on Twitter: http://valueseekerinvestments.blogspot.ca/2017/05/payments-industry-overview-analysis-of.html Haven't had a chance to read it yet since it just came out, but he's a good analyst so I expect it to be quite informative.

https://stratechery.com/2017/boring-google/ Some thoughts about this year's I/O by Ben Thompson.

Some of the latter chapters were of little interest to me, but I can imagine that they'd be a good primer on a few things for a more general audience or investing-beginners, so I don't mind to much. I just skimmed them (realizing that I didn't have to finish books and read every word was a very freeing realization). That's the good interpretation. The bad one is that some editor said: "We need more pages".

http://nypost.com/2017/05/17/siriusxm-in-discussions-to-acquire-struggling-pandora/

FAQ on the Boring Company: https://www.boringcompany.com/faq/ He posted some pics recently:

Here's a direct link (the NPR page sadly doesn't have direct links, all eps are on the same page): https://overcast.fm/+HKGG7PQAg