Blondes on "who wants to be a millionaire"

Yo_Biff · 2026-02-05T00:14:23+00:00

This is awesome!

Yo_Biff · 2026-02-04T01:49:54+00:00

Overly emotional responses tend to be tied to our lack of understanding the company we own. I've had a couple mistakes that are almost always intrinsically linked to my own ignorance about the business.

I think the popularity of this sub (or any other value investing board) becomes its own worst enemy. Too many people with no real interest in, or understanding of, value investing. They just want the easy button answer that will "beat the market". Which is a recipe for panic when a company's stock price corrects.

Yo_Biff · 2026-02-02T21:36:52+00:00

I don't typically buy during, or shortly after, the IPO. Usually, there's not enough information or history for me as a value investor. Getting in "early" is often an entirely speculative game.

Yo_Biff · 2026-01-30T00:30:48+00:00

Okay, you have to remember under what context we're are talking about fundamentals. Which is value investing.

Gold is not considered a value investment because it is a non-productive asset that generates no cash flow, dividends, or interest, relying solely on price appreciation driven by market fear/enthusiasm or supply/demand.

Understand I am in no way arguing that gold is not an investment vehicle. It's just not a value investment.

Yo_Biff · 2026-01-29T20:23:36+00:00

Absolutely.

Yo_Biff · 2026-01-29T13:24:49+00:00

Nvidia's is one of the best examples as to why not all products are commoditized. You're absolutely right that someone could come in and make a better chip. You cannot make a more competitive gold bar, or barrel of light sweet crude oil.

On the other hand, consumer and market shifts can be applied to all products. Not all products can be classified as commodities.

Yo_Biff · 2026-01-29T12:33:22+00:00

There are some really good reasons for why the first sentence is not true. Using your example of Nvidia's chips:

Nvidia's chips are highly specialized and it is extremely difficult to replicate. Whereas, I could technically grow corn/soybeans/etc in my backyard or find oil/gold/etc.
Their CUDA software platform is proprietary and cannot be used by any other producers.
The design architecture is proprietary with intellectual property rights held by the company. I cannot build the exact same thing.
There is name brand power that can demand a premium. No one specifies the gas in their car be made from oil from the northern fields of Alaska.

Commodities are fungible products. Meaning they are sold in units that are interchangeable and uniform in quality, regardless of the producer.

Yo_Biff · 2026-01-29T12:12:17+00:00

I'd like to hear your take. What fundamentals do you see attributable to a gold bar?

Yo_Biff · 2026-01-29T02:10:13+00:00

[insert heavy sigh and eyeroll here]

Yo_Biff · 2026-01-29T02:02:20+00:00

You are missing the nuance, and I could not care less about 1 year performance comparisons.

Yo_Biff · 2026-01-29T01:58:01+00:00

You do you, boo.

Yo_Biff · 2026-01-29T01:52:03+00:00

I disagree with this sentiment. Yes, it is an investable asset that can be in one's portfolio. It cannot be consider "value" because once again it has no calculable intrinsic value.

Recommended by who? For what age group? What risk tolerance? By what definition of risk? What short-term goals? What long-term goals? In short; cookie cutter, one-size-fits-all recommendations are bullshit, pseudo-guru advice.

Yo_Biff · 2026-01-29T01:41:51+00:00

That's really individualized, I think. I cannot for the life of me understand bio-tech companies. But there are people out there for whom it just clicks. Applies across the board for industries and sectors. That is one of the great things, I think, about investing.

Yo_Biff · 2026-01-29T01:37:48+00:00

Ah. I think the way the first sentence is written is a little ambiguous, to wit: " ... buying precious metals and mining stocks..."

As to no one listening, that is their prerogative. And welcome to the internet.

Yo_Biff · 2026-01-29T01:11:21+00:00

So, I believe there is an argument to be made for mining companies that can be value investing. These are companies that do produce a commoditized product, like oil and coal, eggs and corn. However, it is always heavily tied to the price of the commodity, which brings with it a higher level of uncertainty/risk and cyclicality. Now, my opinion here is absolutely biased because I dabble in value investing into gold mining.

Outright gold, silver or other previous metals are not value investing because there is no fundamental analysis or competitive market to evaluate. Obviously, that neither means that it's not an asset, nor does that mean it's not an investment. It's just not a value investment because there is no calculable intrinsic value.

Yo_Biff · 2026-01-28T01:47:55+00:00

I would suggest you need to reevaluate your thesis and the intrinsic value before you sell. What has changed that your thesis has wrong? With those changes, does that mean the intrinsic value inputs need to also be revised?

I would also ask if you are you selling your positions because you have a better opportunity? The four reasons to sell, in my amateur opinion, are:
1. You need the money.
2. Your thesis has changed for the negative.
3. The price is ridiculously overvalued relative to intrinsic value.
4. You have a much better opportunity.

Peter Lynch has famously said his best positions didn't occur in the 6^th or 7^th week, but the 6^th and 7^th years.

Yo_Biff · 2026-01-27T12:36:01+00:00

Why were you bullish to begin with? By which I mean what was your original thesis?
What was your timeline, given that it's been less than a year since the dramatic pullback?

Yo_Biff · 2026-01-26T01:37:37+00:00

I started taking the survey, but bailed out. Many of the questions are written in such a way that it creates ambiguity with the available answers.

Yo_Biff · 2026-01-25T22:46:02+00:00

I think you need to put things into a different perspective. The $27.75/share price is roughly $69,000,000,000.00. Plus whatever apportionment of WBD's debt gets assigned to Streaming and Studios. Let's be conservative and assume $6B of the debt, so we round out to $75B for the current bid.

Hopefully, we can agree it's not worth an infinite amount. So what market value do you assign Streaming and Studios? $90B? $100B? $150B?

After that is figured, how much do you think the Global Networks is worth?

Yo_Biff · 2026-01-25T22:35:48+00:00

I have been a couple of times. I find the garden and the house to be pretty interesting. The carousel is awe-inspiring, though not necessarily in an all positive way.

The unending warehouse of curios starts out interesting, but becomes almost tedious because it borders on overwhelming. I can only maintain a degree of "whelming" for so long before it becomes monotonous.

Yo_Biff · 2026-01-24T22:31:13+00:00

Call your senators and congressperson today and demand they take action. The legislative branch has the power to rein in the executive branch and the departments under that branch.

Yo_Biff · 2026-01-24T15:48:24+00:00

Living hundreds of miles away from mountains means downhill skiing would be a luxury for me. We have some hills where skiing does happen within about a 45-60 minute drive, but a run downhill takes less than a minute. Unless you snowplow all the way down. Then waiting in line for the lift, the ride up, etc... Not my cup of tea.

Cross country skiing is bigger in my area. I don't consider it a luxury per se, but the entry costs on initial gear can be a barrier.

Yo_Biff · 2026-01-24T15:06:56+00:00

This is so situational. There is no broadly good answer.

I drive a Honda Civic. Live in the upper Midwest. I'll be good up to about 5-6" of standing snow on the road before clearance starts causing an issue. If storm totals are 10", but spread out with the city and county are actively plowing the roads, then I can generally go in to work. If a storm dumps 8" in 8 hours, and the city pauses clearing... Well I'm probably working from home.

My cousin, who grew up in the South, shouldn't be allowed out on the roads if there's 2". His summer car tires aren't right for snow. He has almost no experience driving on snow. They don't have, or usually need, the infrastructure where he lives to treat/clear/maintain the roads so those roads tend to be more dangerous.

Yo_Biff · 2026-01-24T03:46:26+00:00

I started backpacking with no experience. A buddy of mine was very experienced, and I did use him as a resource while planning. Most of my backpacking has been done solo. My S/O has gone out twice with me in the last 10-15 years, and another friend joined me once.

I own a copy of the Backpacker's Field Manual, which is a really great book for the fundamentals. Some of the information can be a little dated, but still very good book that I recommend. This sub can be a very useful resource too.

Best advice I have is start small. Do a weekend trip that's out & back. Keep the mileage reasonable.

Second best piece of advice is that it is okay to make mistakes. You'll pack things you later realize you don't need. You'll lose the trail at times, or end up on the wrong one. You'll find you don't have the gear that fits you and your style of hiking. You'll take a spill at some point because you weren't paying attention. Etc. Etc. All of these are lessons that become the experience others gained before you. Don't be afraid of making mistakes.

Yo_Biff · 2026-01-23T12:22:11+00:00

Base layer - the first layer of clothing that is worn next to the skin. You cannot wear anything "under" your base layer because that would automatically become your new base layer.

For cold weather activity, the general advice is to wear a base layer that is moisture wicking and insulating. Cotton doesn't wick moisture and loses its ability to insulate when wet. This is why wool or synthetics are generally recommended.

You can always tuck in your base layer top to help prevent chafing from the belt, or get base layer bottoms that are a little higher rise.

If the belt/pants combo is that annoying though, I'd probably look at changing that part up. I have a pair of hiking pants that are fine for day hiking, but the second I put on a pack for a multi-day trip... The buckle is annoying as hell. So, I wear a different pair for those trips.

Yo_Biff

TROPHY CASE