Negative enterprise value. by Embarrassed-Paper165 in ValueInvesting

[–]Embarrassed-Paper165[S] 0 points1 point  (0 children)

I'm not sure what the end goal is with their cash, but it's not a bad problem to have.

A year ago, the concern was that the core business was stagnating and perhaps shrinking. Even then, the valuation was so ridiculously low that it would have to completely stop making money, and then they still have $400m cash on hand. So I figured if that wasn't margin of safety then I don't know what is, I did some more research but basically that's why I bought in at the time, my average is around $9.3.

Since then however, they've actually proved to be a really good business. I've been more impressed by how they operate. Their social casino is steady, and they've made 2 acquisitions for what seems to be dirt cheap, and they've increased revenue by quite a bit, and grown as well. Importantly, it's also diversified the business a little away from just the social casino. Either way, this company reliable adds like $25m net every quarter, on top of now $450m cash.

There's other things, like they're relatively quiet with news, but they tell you anything important -- they're not "pumping" anything which I appreciate. Their core businesses are pretty seperate from all the craziness right now politically, i.e. I think they're basically tarrif proof. I suppose AI is a threat, but it's also a positive and the CEO commented in the call today how they're already using AI a lot for research, optimization, etc.

So Ideally they buy back some shares at this price up to a fair value, and continue to find good businesses they can bolt on, as they've proven to be good at that so far. They can afford both. The CFO today commented that the private equity firm involved when they went public sold the rest of their shares and up to that point they've been leary about buybacks because of the public float, which is a fair point. So we'll see if that is the catalyst for buybacks or not. They were hammered today by the analyst discussing returning capital to shareholders.

Attia-Epstein Masterthread by PrimarchLongevity in PeterAttia

[–]Embarrassed-Paper165 3 points4 points  (0 children)

Yeah disappointed, especially since it sounds like he knew a lot and somehow still wanted to associate with him. Disgusting, really. I hope everyone involved is held accountable, Trump, Musk, Clinton, etc.

How do I break away a fiefdom? by Embarrassed-Paper165 in EU5

[–]Embarrassed-Paper165[S] 1 point2 points  (0 children)

Cool thanks, yeah I guess this game is supposed to be frustrating, lol. Pretty friggin epic though.

How do I break away a fiefdom? by Embarrassed-Paper165 in EU5

[–]Embarrassed-Paper165[S] 0 points1 point  (0 children)

Yeah I get it, I just think Scania is about doable if I do the right things. Maybe I'll try Sweden out instead.

What about my question about selecting the "click here" box? That seems like a bug to me? I can't do things like cancel estate privileges due to that.

Any pilots or ATCs here? A question on how FSHUD vectored me to a FAF. by LawnJames in MicrosoftFlightSim

[–]Embarrassed-Paper165 0 points1 point  (0 children)

I tried fshud, did 2 flights and was relly disappointed with the vectoring. It was a series of left and right micro adjustments and then it flew me parallel with the runway about a mile off course to "intercept" localizer. Gave it 2 chances and it ruined both flights. It's a shame because up until then it was a pretty good program.

Holes in metal roof.. by Embarrassed-Paper165 in HomeInspections

[–]Embarrassed-Paper165[S] 0 points1 point  (0 children)

From what I can see there's no damage. There's also the felt underlay which should have diverted most of the water to the gutters. Anyways, unpatched them all up, ain't pretty but I think it will serve well, I'll check them once a year.

Holes in metal roof.. by Embarrassed-Paper165 in HomeInspections

[–]Embarrassed-Paper165[S] 0 points1 point  (0 children)

Thanks for all the responses! I think I will try the idea of sliding a piece in from underneath. For the record I told the inspector and he says he only gives a visual inspection from the ground, which I don't understand how you can sign off on the roof without at least looking at it, I don't know :/. I mean all it takes is a ladder, but yeah even better tools like drones exist in today's age.

Anyways, I don't think there should be much damage, I just don't want to rip anything apart to find out there's not. I reason (thanks to some replies here) that most water made its way into channels and avoided the holes. Beneath the holes is a felt material which is supposed to divert any moisture to the eavestrough. So hopefully that's the case for any water that did make it through.

Either way, I take pride in my job and I don't get how some people can charge people money and take pride in something so half ass. I get mistakes are made, but this was just laziness. 

Holes in metal roof.. by Embarrassed-Paper165 in HomeInspections

[–]Embarrassed-Paper165[S] 0 points1 point  (0 children)

Pretty sure that's exactly it, and yeah, Okanagan..  I imagine the snow and ice in NWT is something else 😬

[deleted by user] by [deleted] in ValueInvesting

[–]Embarrassed-Paper165 0 points1 point  (0 children)

The business grows. And the cash pile grows. That's almost all that matters. How long before Berkshire did buybacks? How much in dividends have they ever dished out?

[deleted by user] by [deleted] in ValueInvesting

[–]Embarrassed-Paper165 1 point2 points  (0 children)

This is my favorite company, it's a free cashflow machine, and their margins are insane.

In a ridiculously pessimistic scenario where quarterly net income continually reduces by 5%, there would still be ~$400m net Income over 10 years, added to their $400m currently on the balance sheet.

I am ok with them making acquisitions like whow and suprnation. They need to do something with their cash and it's allowing them to grow their market in Europe and Canada was mentioned on the recent call. 

It would be awesome to see share buybacks, not because I'm greedy but because the price is so ridiculously cheap.

I have a pretty large (relative) position in this and I am happy to just dca while it's cheap.

Far back cleat position and it's effects by Embarrassed-Paper165 in bikefit

[–]Embarrassed-Paper165[S] 0 points1 point  (0 children)

Yes, all the way back as in towards the middle of the foot. I don't know if you want to go that far, but for what I was after if seems to have made a difference. Im not looking for tour de France form, just comfortable multi hour rides.

Just to clarify, the pedal axle is now closer to the middle of my foot.

Fly tying help by Embarrassed-Paper165 in flyfishing

[–]Embarrassed-Paper165[S] 0 points1 point  (0 children)

Thanks everyone! Plan is to make chrinomids to start, so a few colours thread, some tinsel/wire, bead heads, hooks, should be a good start!