west

http://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/azp-pr-b-atlantic-power-corp-preferreds/ http://bit.ly/2mVOHfu http://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/vsn-veresen-inc/ http://bit.ly/2np33CE And some other stuff that's gotten bought out. Let us know when you come up with your first idea post, Frank. Same goes to you, Mr. Gibbons. I'm seeing you're a member since 2009, but you have no idea posts over the whole time. http://www.cornerofberkshireandfairfax.ca/forum/profile/?area=showposts;sa=topics;u=107 Lol - my fault. My post was partly tongue-in-cheek and partly a reaction to seeing his name reappear whenever a Trump thread starts getting hot again. But thanks for correcting the record. No problem! And I apologize if I came off a little too strong. There have been a lot of good investors on this forum in the past that have been scared off by more... opinionated and loud members of the board. For example, both Kraven and PlanMaestro, two very strong investors, were scared off a long time ago. I was fortunate enough to learn from them, but younger investors won't be. And it's a major loss to the board. So anyway, I guess get a little bulldog-ish when people are coming on too aggressively against people I see as stronger investors... I know politics affects investing results and all, so technically it's something that should be discussed. However, I kind of wish we wouldn't. At least here. It's really taking away from what I think the key focus of this board should be: Finding and analyzing good stocks.

http://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/azp-pr-b-atlantic-power-corp-preferreds/ http://bit.ly/2mVOHfu http://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/vsn-veresen-inc/ http://bit.ly/2np33CE And some other stuff that's gotten bought out. Let us know when you come up with your first idea post, Frank. Same goes to you, Mr. Gibbons. I'm seeing you're a member since 2009, but you have no idea posts over the whole time. http://www.cornerofberkshireandfairfax.ca/forum/profile/?area=showposts;sa=topics;u=107

Extremely well spoken. And you can tell near the interview that Charlie Rose was sad about the situation, too. Thanks for sharing.

Happy birthday, Sanjeev! And thanks again for starting this board!

Hey guys. After all my whining up above, it looks like I'm not going to be able to make it this Sunday, sorry. Maybe next time!

Look into (at least what use to be called) the Fax Attack. Have a stock letter that you send out to all the dealers in your area that says "I want to buy a Prius and the current offer I have is $XX,XXX. Can you beat it?" Then take the lowest price you get from your responses and send the fax/email out again. Repeat until you have only one dealer respond. Get a formal offer letter from them in writing so when you go to their lot they don't reneg on the offer. The only other bit of advices are: Dealers have monthly quotas. They'll often take a loss on a car if it makes their quotas. So do the Fax Attacks near the end of the month. Also, bring your own financing (unless they've got a great offer *from the manufacturer* that you know you'll get. Dealers can get money from you via their financing offers if they dom't get money from you in the up front sale.

I have never been a banker, so I may be completely wrong here, but I hear lot of those 100 hour weeks really aren't "productive" 100 hour weeks, but a lot of waiting for your superiors to leave the office. So you may have down time to do research while "working". Maybe. First bit of advice: Focus on your job first. Second bit: Follow liberty's advice above. And make sure you have six months of living expenses in cash. Third bit (which is optional): If you can stomach it, put the rest of your money in one idea you've researched the snot out of. Then watch it like a hawk. Even if you end up being wrong, you'll learn a lot in the process. Think about it as an investment in education. It's better to lose money now and learn from it than later, when your total future earnings will be lower (because you're older) and you have more money at risk (because you're older, and have more saved.) I would pick a small company that's easy to understand, but has lots of disclosure. One of Packer's ideas might not be a bad bet. Maybe FRD (the story isn't as simple as "they make steel pipe", however). Or maybe one of oddballstock's high conviction ideas. This is of course assuming that you do think you can beat the market (I no longer think most people can on their own) and are willing to put the thousands of hours of work and study into it, over a lifetime, to *maybe* make it work.

Ah. So *meet* at 12:00pm. I thought "the 12:00 Camino Restaurant" was the name of the place. One other thought (sorry for being difficult!), maybe could we aim for a place that's more mass transit friendly? I only ask because coming back to my neighborhood in SF and trying to park on a Sunday afternoon sounds... challenging. Again, sorry for being difficult! By the way, where are the other Bay Area people out there? I know you're there. Speak up! What do you guys think?

Hey netnet. I'm definitely interested, but at the risk of being "that guy", is there anyway we could move it to a less expensive place? I love cheap, good, hole-in-the-walls myself, and I've only been to a few in Oakland myself. Plus, they seems to be better for hanging around for longer and talking shop. What's the industry terminology? They're less focused on "table turns"? Anyway, just a suggestion...

This company may be interesting to anyone into deep value/cigar butt plays. In a nutshell, it's currently trading at a price-to-tangible-book of 0.84x. Despite having positive earnings practically every year over the last decade. The kicker? GAMCO (Gabelli) owns 17.5% of the company (~21% of the float) and has been stirring things up recently. I haven't really researched the company too much, and I don't own it, but it may be worth looking into for the deep value guys out there.

I haven't hiked it, but I've intersected with it multiple times on mountain bike. (You're not actually allowed to bring bikes on the trail itself). Those few times I've intersected with it have been absolutely beautiful parts of the trails I was on, almost the highlights of them. It kind of makes me wonder if Muir hand picked the best parts of the Sierras to do :D I would definitely do it, especially if you have the time. You won't regret it.

Kind of in the same vein: http://brooklyninvestor.blogspot.com/2015/01/overvalued-market.html

My brief two cents: I own this guy. It was originally going to be in my list of companies that I posted back in... October? But I (irrationally?) had a hard time recommending a compnay that had just popped. Looks like it's come back down since then. Nice writeup bean! And thanks for posting.

So you're saying that KO is not susceptible to fraud or other tail events? Also, this implies that KO will "grow to the sky" and always grow faster (and thus get better returns) than the market at large. Both of these assumptions are very dangerous to make. As a quick aside, part of the reason why Buffett is such a "buy and hold" investor with his funds at Berkshire is that he's subject to corporate tax rates regardless of his holding period. As individuals, we have the advantage of having long-term capital gains rates kicking in after a year, or no taxes at all in non-taxed accounts. There's still an advantage to buying and holding forever with the right companies in a taxed account, but the advantage is nowhere near a pronounced as it is for him.

O'Shaughnessy: "Fidelity had done a study as to which accounts had done the best at Fidelity. And what they found was..." Ritholtz: "They were dead." O'Shaughnessy: "...No, that's close though! They were the accounts of people who forgot they had an account at Fidelity." So that could mean those accounts held mutual funds, ETFs, cash, anything. They didn't necessarily hold "hand selected high-quality stocks". There's a lot that that few sentence quote doesn't say.