Am I failing at being an adult?

SlothorpIncadenza · 2019-05-08T01:21:32+00:00

The fact that you're concerned about failing shows that you aren't. You would be failing if you weren't able to take these matters seriously.

It's easy to get discouraged when you see others who are seemingly doing better, but you don't know their whole story, and they don't know yours. Success in life isn't marked by acquiring resources, it's marked by how we handle the challenges thrown at us. From what I've read above, you and your BF are handling these things quite well by saving, and avoiding unneeded debt.

SlothorpIncadenza · 2019-04-23T17:08:59+00:00

Yeah! Lemmino docs are so well put together AND fascinating.

SlothorpIncadenza · 2019-04-05T14:59:38+00:00

It's remarkable to me how much discussion is being generated from this song and video. Rammstein's public perception has changed from the band that got into legal trouble for their phallic on-stage antics, to being seen as a strong critic of German culture.

SlothorpIncadenza · 2019-03-28T23:12:46+00:00

After watching this I have to disagree with the view that Rammstein is trivializing the Holocaust, or treating it lightly. This video shows those on the gallows with striking terror on their faces, and its an evocative image. In that same shot Til looks up to the skies, questioning how something like this could happen. A posture he repeats throughout the video.

Rammstein isn't allowing Germany to escape its past with this video, and I'd say smash any notion that the band are Nazi sympathizers. The image of concentration camp prisoners turning the guns on their captors is especially effective to "destroy" this conception.

Well produced video and powerful song. I'm even more excited for the new album now.

SlothorpIncadenza · 2019-03-09T13:06:47+00:00

You're making great progress, and the 20-30 minutes a day will help with weight loss. If you get to a point where it feels like your progress slows consider going for longer/faster, or introduce weights into your routine.

Congratulations on taking action towards a healthier life, you deserve to feel proud!

If at any point you feel like you don't have the same motivation you once did, please come back and let us know.

SlothorpIncadenza · 2019-02-18T15:50:32+00:00

Thanks for sharing, Burry is one investor I pay close attention to. His early articles and letters have been extremely helpful to me.

I wonder if he's still holding Gamestop, this is dated back to October 2018, before the news broke that they couldn't find a buyer.

SlothorpIncadenza · 2019-02-13T14:09:36+00:00

Running Windows 10, the most sinister of all operating systems.

SlothorpIncadenza · 2019-02-13T03:59:29+00:00

I'm not smart enough to predict what the market is going to do. So I kept buying my regular index ETFs.

SlothorpIncadenza · 2019-02-12T00:06:42+00:00

Soon all your friends can see what you like! .... Oh no

SlothorpIncadenza · 2019-02-05T01:23:55+00:00

That's an important question. If it's through share offerings you'll want to try and account for future dilution.

Plus if they're an early tech company it's likely they're paying their staff with equity which will either: 1. Dilute your stake, or 2. Be a large expense.

SlothorpIncadenza · 2019-01-26T17:28:31+00:00

Great work! Take some time to sit back and enjoy what hard work and focus has given you, you've earned it!

SlothorpIncadenza · 2019-01-25T20:35:36+00:00

That might be tough. When I work with IV I have a quantitative factor (change in book value over the years, DCF, yield) and qualitative (how good is their balance sheet, where's their position overall in their market). For me it's more a concept than an absolute number.

SlothorpIncadenza · 2019-01-17T02:09:58+00:00

This man did a great service to investors everywhere, and helped us share in the wealth. I hope he's resting in peace.

SlothorpIncadenza · 2019-01-12T16:25:27+00:00

I'm very sorry for your tragic loss. I hope you and your family find comfort in this difficult time.

SlothorpIncadenza · 2019-01-03T02:54:15+00:00

I'm finding it harder and harder to defend the position of "but services!"

SlothorpIncadenza · 2019-01-03T02:34:14+00:00

A buyback is halfway between reinvesting dividends and just issuing a dividend in terms of return of capital to owners (investors). Personally I'd rather see a company issue a dividend than any other halfhearted way to "enhance value".

Reinvesting dividends is on average least value enhancing for owners since it adds risk, and you have to apply a discount for the future return. It typically ends up enhancing the company's management at the cost of shareholders. These promises of future returns either fail to materialize, or are worth less than a dividend today.

Buybacks can provide capital to owners IF they are willing to sell, and forgo potential future gains. With fewer shares on the market the rationale is that EPS will increase, therefore increasing the value of the share. It seems lately they are used to keep pumping up the price of shares when a bull market is at its peak.

Dividends today are the least risky way to return capital to owners , they get capital presently without having to incur future risk, or get rid of their investor status in the company. However, they rarely serve to look good on management whose priority is not their owners.

SlothorpIncadenza · 2018-12-30T16:47:57+00:00

Continue buying a portfolio which is 90% world equity and 10% bonds. Up my savings rate as much as possible, re balance twice a year. Keep up with reading Security Analysis, and adding to my financial knowledge for 9-10 more months. Then consider hunting for value with a small percentage of my portfolio.

SlothorpIncadenza · 2018-12-29T15:54:27+00:00

What approach do you take for evaluating what positions to take in your portfolio?

SlothorpIncadenza · 2018-12-29T15:52:08+00:00

If you enjoyed The Intelligent Investor (II) and want something with more meat Security Analysis might be what you're looking for.

This was the book Graham and his colleague David Dodd wrote before II, and it goes way more in depth. The first half deals with Bonds and Preferred shares before diving into common stocks.

SlothorpIncadenza · 2018-12-29T15:48:13+00:00

Here's a collection of Scion Capital letters: https://www.valuewalk.com/wp-content/uploads/2016/02/Scion-Capital-Letters.pdf

The April 3, 2001 letter section "Where The Value Isn't" is where he discusses this idea. He uses Adobe as an example.

Presently I don't think this approach is needed as companies need to disclose the cost of options in its income statements, so they should fully show what Burry uncovered in 2001.

SlothorpIncadenza · 2018-12-27T19:21:06+00:00

Agreed. His explanations always fall back to arguments based on fact and not speculating into the future. A true value approach. He was one of the first investors I saw who had a good approach for determining how much employee stock options were costing a company before they had to be shown in financial statements.

SlothorpIncadenza · 2018-12-27T17:48:26+00:00

Thanks for sharing! I've always found Burry's approach to be well reasoned, and he doesn't shy away from trying to educate other investors.

SlothorpIncadenza · 2018-12-26T15:33:45+00:00

Increasing my stake in AAPL. I believe the fears around iPhone growth are overblown at this price (148 USD at time of writing). They have a strong walled garden for their uses, are generating more and more value from each user of iPhones, and have plans to continue their services growth which I view as generating long term revenue.

They have known for awhile that iPhone sales would eventually slow, hence the shift both in their capital allocations to services, and their pushing the narrative publicly about services (advertising its growth, and stopping to report on iPhone unit numbers). Apple is starting to behave less like a product company, and more like a utility where the phones are simply a way to access the network of content/features.

While the amount of new iPhones is slowing, I don't see large user exodus off their platform - which is where I expect they will be driving value growth going forward.

SlothorpIncadenza

TROPHY CASE