LongHaul Posted October 10, 2013 Share Posted October 10, 2013 A story that I found interesting. Ben Graham was running money in the 1920's and I think in 1930 he met with a 93 year old man in Florida. The man asked Graham a bunch of penetrating questions and then told Graham he should do himself a favor and liquidate his positions and go to cash. Graham ignored the old man and lost a bundle in the depression that ensued. Imagine how difficult it would have been to go to cash in early 1929. Everyone was making easy money. It was a total contrarian move in a wildly overvalued market. The 93 year old had been through a bunch of booms and busts and knew the signs. Link to comment Share on other sites More sharing options...
Philip Morris IV Posted October 10, 2013 Share Posted October 10, 2013 Value investing works because of human nature. I do not think that is about to change anytime soon. So, value investing should provide someone who has the right temperament an edge. +1, What drew me to value investing initially was how it runs contrary to short-term, pattern-seeking human nature. I don't think people will ever stop wanting fast money. And to institutions, analysts, brokers and the media, value investing is not profitable. To MF managers it is bad for their careers. I'd say we are safe from their endorsement. Personally I see a much greater trend towards indexing, and to a lesser extent so-called "alternatives" like commodities, derivatives, RE funds, structured products, etc. There's always a flavor of the day. EDIT: Guitar people, don't forget Pat Metheny! Link to comment Share on other sites More sharing options...
Steve Posted October 10, 2013 Share Posted October 10, 2013 "Markets are inefficient because of human nature - innate, deep-rooted, permanent. People don't consciously choose to invest with emotion - they simply can't help it." "So if the entire country became securities analysts, memorized Benjamin Graham's Intelligent Investor and regularly attended Warren Buffett's shareholder meetings, most people would, nevertheless, find themselves irresistibly drawn to hot initial public offerings, momentum strategies and investment fads...People would, in short, still be attracted to short-term, get rich quick schemes." - Seth Klarman Link to comment Share on other sites More sharing options...
boilermaker75 Posted October 10, 2013 Share Posted October 10, 2013 I'll agree with Hendrix as best guitarist and Neil Young as the best song writer. But the best all-time drummer is a tie between Keith Moon and John Bonham. How is Neil Young a better songwriter than Lennon and McCartney? Keith Moon and John Bonham are definitely contenders for the crown. Both had that crazy drummer thing going on. "She loves you , yeah, yeah, yeah," which should be enough evidence! Just kidding. Lennon and McCartney each wrote some great songs. Neil Young is my favorite artist. So when Uccmal mentioned Young as the best songwriter I had to concur! Link to comment Share on other sites More sharing options...
Libs Posted October 10, 2013 Share Posted October 10, 2013 "Markets are inefficient because of human nature - innate, deep-rooted, permanent. People don't consciously choose to invest with emotion - they simply can't help it." "So if the entire country became securities analysts, memorized Benjamin Graham's Intelligent Investor and regularly attended Warren Buffett's shareholder meetings, most people would, nevertheless, find themselves irresistibly drawn to hot initial public offerings, momentum strategies and investment fads...People would, in short, still be attracted to short-term, get rich quick schemes." - Seth Klarman [/quot A+ Human nature will never change. So much money in the market is driven by emotion and short-term thinking...and thus you will always have an advantage if you are smart and can think long-term. I am reminded of this constantly. Having preached the gospel profitably to clients for many years, they still ask about buying Twitter's IPO or some hot gene-splicing company. It's just the way people are wired. (Maybe since 90% of the populace can't grasp the correct framework for investing, WE are in fact the weird ones, the oddballs?) Even my very intelligent wife, after years of hearing my ranting, fails the test. She buys stocks in her separate portfolio on my advice. She has done very well. But if a new buy drops 5% right off the bat, she can't handle it. This morning she was teasing me about GS. She paid $162 I think. It was at $154. I decided to tell her if she holds GS for 2 years I will make her whole on any loss. Should be interesting :P e] Link to comment Share on other sites More sharing options...
wknecht Posted October 10, 2013 Share Posted October 10, 2013 Best songwriter(s) - Lennon and McCartney of course! Random coincidence, but I ran into McCartney in times square today. Guess he was performing. Missed that part, but got a shot of him pulling away. Link to comment Share on other sites More sharing options...
fareastwarriors Posted October 10, 2013 Share Posted October 10, 2013 "Markets are inefficient because of human nature - innate, deep-rooted, permanent. People don't consciously choose to invest with emotion - they simply can't help it." "So if the entire country became securities analysts, memorized Benjamin Graham's Intelligent Investor and regularly attended Warren Buffett's shareholder meetings, most people would, nevertheless, find themselves irresistibly drawn to hot initial public offerings, momentum strategies and investment fads...People would, in short, still be attracted to short-term, get rich quick schemes." - Seth Klarman +1 Link to comment Share on other sites More sharing options...
Hielko Posted October 10, 2013 Share Posted October 10, 2013 Even my very intelligent wife, after years of hearing my ranting, fails the test. She buys stocks in her separate portfolio on my advice. She has done very well. But if a new buy drops 5% right off the bat, she can't handle it. Not very unique, but at the same time a nice illustration of how different investors are wired differently. Can't say it's a daily event that something drops 5%, but for me it would be too insignificant to even register. When I started investing in stocks I did so with the expectation that I would lose 50% of NAV at some point in time. Wonder if your wife has the risk tolerance to invest in stocks, and if she wouldn't be the classic retail sucks who exits the market after everything went down a lot. Did you have to stop her from selling stocks in 2008/9? Link to comment Share on other sites More sharing options...
DTEJD1997 Posted October 11, 2013 Share Posted October 11, 2013 I'll agree with Hendrix as best guitarist and Neil Young as the best song writer. But the best all-time drummer is a tie between Keith Moon and John Bonham. Keith Moon & John Bonham are most definitely very, very skilled drummers, but my vote has got to be for Neil Peart. As for investing, what percentage of the general population was selling stocks at or near the lows of 2008/2009? I had several associates who would tell me that they were down 40%, and now was the time to be getting out! They were going to take their lumps and get out.... What really has me spooked is that some of these same people are now looking to get back in the market. Link to comment Share on other sites More sharing options...
no_free_lunch Posted October 11, 2013 Share Posted October 11, 2013 Just kidding. Lennon and McCartney each wrote some great songs. Neil Young is my favorite artist. So when Uccmal mentioned Young as the best songwriter I had to concur! There should be no doubt, Kurt Cobain was the greatest song writer of all time. Link to comment Share on other sites More sharing options...
stahleyp Posted October 11, 2013 Share Posted October 11, 2013 I have a theory (perhaps incorrect) but none of these famous musicians are much better or worse than others on average. The Beatles are roughly equal to Young who is roughly equal to Cobain. I feel that most of the time people think that one or the other is the best ever is when that person/group hit it big while they're growing up. It hits us in a very impressionable stage and that feeling sticks. As an example, a ton of baby boomers think the Beatles is the best band ever. I can barely get through a couple of their songs. Then again...maybe I'm just tone deaf! :P Link to comment Share on other sites More sharing options...
Mephistopheles Posted October 11, 2013 Share Posted October 11, 2013 Let's get real, U2 are the best songwriters/band/performers :D Link to comment Share on other sites More sharing options...
Palantir Posted October 11, 2013 Share Posted October 11, 2013 You're all wrong, Miley Cyrus and Selena Gomez are the best! Link to comment Share on other sites More sharing options...
boilermaker75 Posted October 7, 2019 Share Posted October 7, 2019 I'll agree with Hendrix as best guitarist and Neil Young as the best song writer. But the best all-time drummer is a tie between Keith Moon and John Bonham. Keith Moon & John Bonham are most definitely very, very skilled drummers, but my vote has got to be for Neil Peart. As for investing, what percentage of the general population was selling stocks at or near the lows of 2008/2009? I had several associates who would tell me that they were down 40%, and now was the time to be getting out! They were going to take their lumps and get out.... What really has me spooked is that some of these same people are now looking to get back in the market. Speaking of great drummers, we just lost one, Ginger Baker. https://www.npr.org/2019/10/06/765781758/ginger-baker-cream-drummer-and-force-of-nature-dies-at-80 Link to comment Share on other sites More sharing options...
DooDiligence Posted October 8, 2019 Share Posted October 8, 2019 I'll agree with Hendrix as best guitarist and Neil Young as the best song writer. But the best all-time drummer is a tie between Keith Moon and John Bonham. Keith Moon & John Bonham are most definitely very, very skilled drummers, but my vote has got to be for Neil Peart. As for investing, what percentage of the general population was selling stocks at or near the lows of 2008/2009? I had several associates who would tell me that they were down 40%, and now was the time to be getting out! They were going to take their lumps and get out.... What really has me spooked is that some of these same people are now looking to get back in the market. Speaking of great drummers, we just lost one, Ginger Baker. https://www.npr.org/2019/10/06/765781758/ginger-baker-cream-drummer-and-force-of-nature-dies-at-80 Dude was a human metronome & absolutely nuts. RIP Link to comment Share on other sites More sharing options...
boilermaker75 Posted October 8, 2019 Share Posted October 8, 2019 I'll agree with Hendrix as best guitarist and Neil Young as the best song writer. But the best all-time drummer is a tie between Keith Moon and John Bonham. Keith Moon & John Bonham are most definitely very, very skilled drummers, but my vote has got to be for Neil Peart. As for investing, what percentage of the general population was selling stocks at or near the lows of 2008/2009? I had several associates who would tell me that they were down 40%, and now was the time to be getting out! They were going to take their lumps and get out.... What really has me spooked is that some of these same people are now looking to get back in the market. Speaking of great drummers, we just lost one, Ginger Baker. https://www.npr.org/2019/10/06/765781758/ginger-baker-cream-drummer-and-force-of-nature-dies-at-80 Dude was a human metronome & absolutely nuts. RIP Sunday night I am going to see The Who, well half The Who, at the Hollywood Bowl. Zak Starkey, Ringo's son, will be playing the part of Keith Moon. That is if Roger Daltry's voice recovers. He had to quit midway through their show in Houston on Sept 25 and then canceled a couple of shows. Their next scheduled shows are Oct 11 & 13 at the Hollywood Bowl. Link to comment Share on other sites More sharing options...
DooDiligence Posted October 8, 2019 Share Posted October 8, 2019 I'll agree with Hendrix as best guitarist and Neil Young as the best song writer. But the best all-time drummer is a tie between Keith Moon and John Bonham. Keith Moon & John Bonham are most definitely very, very skilled drummers, but my vote has got to be for Neil Peart. As for investing, what percentage of the general population was selling stocks at or near the lows of 2008/2009? I had several associates who would tell me that they were down 40%, and now was the time to be getting out! They were going to take their lumps and get out.... What really has me spooked is that some of these same people are now looking to get back in the market. Speaking of great drummers, we just lost one, Ginger Baker. https://www.npr.org/2019/10/06/765781758/ginger-baker-cream-drummer-and-force-of-nature-dies-at-80 Dude was a human metronome & absolutely nuts. RIP Sunday night I am going to see The Who, well half The Who, at the Hollywood Bowl. Zak Starkey, Ringo's son, will be playing the part of Keith Moon. That is if Roger Daltry's voice recovers. He had to quit midway through their show in Houston on Sept 25 and then canceled a couple of shows. Their next scheduled shows are Oct 11 & 13 at the Hollywood Bowl. Nice! Link to comment Share on other sites More sharing options...
John Hjorth Posted October 8, 2019 Share Posted October 8, 2019 Please keep talking! - It's a cosy read! [ : - D ] - - - o 0 o - - - When I turned the sharp corner of 40 [now many years ago], I felt soo pitty for my self [about getting old], that I spent about DKK 100 K on a B&O installation in the house. [Panick?][Pretty much so that the only places where there were no music direct available were the places where you take your dumps & showers, & where you get your sleep & sex.] - - - o 0 o - - - Where are we now? : In general, no music in the house. Both the Lady of the House and I are avid readers [like the calme], but actually also like to listen to music - I need to shape up here, to get it going again! - - - o 0 o - - - Today, I noted, the OP in this topic [[now, former] CoBF member ajc] has logged out for good. I'm feeling kind of sad about that. Relating to different wired minds is what makes you grow. Link to comment Share on other sites More sharing options...
DooDiligence Posted October 9, 2019 Share Posted October 9, 2019 Please keep talking! - It's a cosy read! [ : - D ] - - - o 0 o - - - When I turned the sharp corner of 40 [now many years ago], I felt soo pitty for my self [about getting old], that I spent about DKK 100 K on a B&O installation in the house. [Panick?][Pretty much so that the only places where there were no music direct available were the places where you take your dumps & showers, & where you get your sleep & sex.] - - - o 0 o - - - Where are we now? : In general, no music in the house. Both the Lady of the House and I are avid readers [like the calme], but actually also like to listen to music - I need to shape up here, to get it going again! - - - o 0 o - - - Today, I noted, the OP in this topic [[now, former] CoBF member ajc] has logged out for good. I'm feeling kind of sad about that. Relating to different wired minds is what makes you grow. Bose makes some very good wireless bluetooth speakers. I have a SoundSport rechargeable that goes all over the place with me. I also have a Bose Compact L1 PA which needs an AC power source, but provides a lot more sound. This system also has 1/4 inch TS & XLR connections to hook up guitars, pianos & microphones. Link to comment Share on other sites More sharing options...
Spekulatius Posted October 9, 2019 Share Posted October 9, 2019 More sharing options... boilermaker75 Posted October 14, 2019 Share Posted October 14, 2019 I'll agree with Hendrix as best guitarist and Neil Young as the best song writer. But the best all-time drummer is a tie between Keith Moon and John Bonham. Keith Moon & John Bonham are most definitely very, very skilled drummers, but my vote has got to be for Neil Peart. As for investing, what percentage of the general population was selling stocks at or near the lows of 2008/2009? I had several associates who would tell me that they were down 40%, and now was the time to be getting out! They were going to take their lumps and get out.... What really has me spooked is that some of these same people are now looking to get back in the market. Speaking of great drummers, we just lost one, Ginger Baker. https://www.npr.org/2019/10/06/765781758/ginger-baker-cream-drummer-and-force-of-nature-dies-at-80 Dude was a human metronome & absolutely nuts. RIP Sunday night I am going to see The Who, well half The Who, at the Hollywood Bowl. Zak Starkey, Ringo's son, will be playing the part of Keith Moon. That is if Roger Daltry's voice recovers. He had to quit midway through their show in Houston on Sept 25 and then canceled a couple of shows. Their next scheduled shows are Oct 11 & 13 at the Hollywood Bowl. Nice! It was awesome! Zak Starkey is a great drummer. Zak was a protege of Keith Moon. Link to comment Share on other sites More sharing options... DooDiligence Posted October 14, 2019 Share Posted October 14, 2019 I'll agree with Hendrix as best guitarist and Neil Young as the best song writer. But the best all-time drummer is a tie between Keith Moon and John Bonham. Keith Moon & John Bonham are most definitely very, very skilled drummers, but my vote has got to be for Neil Peart. As for investing, what percentage of the general population was selling stocks at or near the lows of 2008/2009? I had several associates who would tell me that they were down 40%, and now was the time to be getting out! They were going to take their lumps and get out.... What really has me spooked is that some of these same people are now looking to get back in the market. Speaking of great drummers, we just lost one, Ginger Baker. https://www.npr.org/2019/10/06/765781758/ginger-baker-cream-drummer-and-force-of-nature-dies-at-80 Dude was a human metronome & absolutely nuts. RIP Sunday night I am going to see The Who, well half The Who, at the Hollywood Bowl. Zak Starkey, Ringo's son, will be playing the part of Keith Moon. That is if Roger Daltry's voice recovers. He had to quit midway through their show in Houston on Sept 25 and then canceled a couple of shows. Their next scheduled shows are Oct 11 & 13 at the Hollywood Bowl. Nice! It was awesome! Zak Starkey is a great drummer. Zak was a protege of Keith Moon. I need to move to a major metropolitan city. --- I've been watching a lot of documentaries about musicians lately & some notable ones have been: Bad Company, "Bad Company" https://www.amazon.com/Bad-Company-Paul-Rodgers/dp/B075ST4NQ6/ref=sr_1_1?keywords=bad+company+documentary&qid=1571090202&sr=8-1 --- Johnny Winter, "Down & Dirty" https://www.amazon.com/Johnny-Winter-Down-Dirty/dp/B07WHG3C3Z/ref=sr_1_1?keywords=Johnny+Winter+documentary&qid=1571090303&sr=8-1 --- David Bowie, "The Man Who Changed the World" https://www.amazon.com/Bowie-Man-Who-Changed-World/dp/B01KV3DZUM/ref=tmm_aiv_swatch_1?_encoding=UTF8&qid=1571090367&sr=8-1 This one got a few bad reviews based on the fact that they didn't get licensing to play a lot of his tunes during the documentary, but I found it to be well worth watching. He was such an iconic & revolutionary artist & thinker. Bowie on change, “Next Thursday won't be like last Thursday, but I'd miss it just the same if it didn't happen.” Link to comment Share on other sites More sharing options... Prev 1 2 3 Next Page 3 of 3 Create an account or sign in to comment You need to be a member in order to leave a comment Create an account Sign up for a new account in our community. It's easy! Register a new account Sign in Already have an account? Sign in here. Sign In Now Share More sharing options... Followers 0
boilermaker75 Posted October 14, 2019 Share Posted October 14, 2019 I'll agree with Hendrix as best guitarist and Neil Young as the best song writer. But the best all-time drummer is a tie between Keith Moon and John Bonham. Keith Moon & John Bonham are most definitely very, very skilled drummers, but my vote has got to be for Neil Peart. As for investing, what percentage of the general population was selling stocks at or near the lows of 2008/2009? I had several associates who would tell me that they were down 40%, and now was the time to be getting out! They were going to take their lumps and get out.... What really has me spooked is that some of these same people are now looking to get back in the market. Speaking of great drummers, we just lost one, Ginger Baker. https://www.npr.org/2019/10/06/765781758/ginger-baker-cream-drummer-and-force-of-nature-dies-at-80 Dude was a human metronome & absolutely nuts. RIP Sunday night I am going to see The Who, well half The Who, at the Hollywood Bowl. Zak Starkey, Ringo's son, will be playing the part of Keith Moon. That is if Roger Daltry's voice recovers. He had to quit midway through their show in Houston on Sept 25 and then canceled a couple of shows. Their next scheduled shows are Oct 11 & 13 at the Hollywood Bowl. Nice! It was awesome! Zak Starkey is a great drummer. Zak was a protege of Keith Moon. Link to comment Share on other sites More sharing options...
DooDiligence Posted October 14, 2019 Share Posted October 14, 2019 I'll agree with Hendrix as best guitarist and Neil Young as the best song writer. But the best all-time drummer is a tie between Keith Moon and John Bonham. Keith Moon & John Bonham are most definitely very, very skilled drummers, but my vote has got to be for Neil Peart. As for investing, what percentage of the general population was selling stocks at or near the lows of 2008/2009? I had several associates who would tell me that they were down 40%, and now was the time to be getting out! They were going to take their lumps and get out.... What really has me spooked is that some of these same people are now looking to get back in the market. Speaking of great drummers, we just lost one, Ginger Baker. https://www.npr.org/2019/10/06/765781758/ginger-baker-cream-drummer-and-force-of-nature-dies-at-80 Dude was a human metronome & absolutely nuts. RIP Sunday night I am going to see The Who, well half The Who, at the Hollywood Bowl. Zak Starkey, Ringo's son, will be playing the part of Keith Moon. That is if Roger Daltry's voice recovers. He had to quit midway through their show in Houston on Sept 25 and then canceled a couple of shows. Their next scheduled shows are Oct 11 & 13 at the Hollywood Bowl. Nice! It was awesome! Zak Starkey is a great drummer. Zak was a protege of Keith Moon. I need to move to a major metropolitan city. --- I've been watching a lot of documentaries about musicians lately & some notable ones have been: Bad Company, "Bad Company" https://www.amazon.com/Bad-Company-Paul-Rodgers/dp/B075ST4NQ6/ref=sr_1_1?keywords=bad+company+documentary&qid=1571090202&sr=8-1 --- Johnny Winter, "Down & Dirty" https://www.amazon.com/Johnny-Winter-Down-Dirty/dp/B07WHG3C3Z/ref=sr_1_1?keywords=Johnny+Winter+documentary&qid=1571090303&sr=8-1 --- David Bowie, "The Man Who Changed the World" https://www.amazon.com/Bowie-Man-Who-Changed-World/dp/B01KV3DZUM/ref=tmm_aiv_swatch_1?_encoding=UTF8&qid=1571090367&sr=8-1 This one got a few bad reviews based on the fact that they didn't get licensing to play a lot of his tunes during the documentary, but I found it to be well worth watching. He was such an iconic & revolutionary artist & thinker. Bowie on change, “Next Thursday won't be like last Thursday, but I'd miss it just the same if it didn't happen.” Link to comment Share on other sites More sharing options...
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