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That quote is from this article http://www.newyorker.com/magazine/2016/09/26/president-trumps-first-term

"On rare occasions, a President’s nuclear orders have been too unsettling for his staff to accept. In October, 1969, Richard Nixon told Secretary of Defense Melvin R. Laird to put nuclear forces on high alert. According to Sagan, the Stanford nuclear-arms specialist, Nixon hoped that the Soviets...

Forever or just for the election thing?

If Trump backs down on trade, which he is likely to do, then the market will focus on the fact that with Reps in congress, its the first time in a long-time, corporate tax reform can pass. That is VERY positive for stuff like buybacks. They will cut down that repatriation rate and things like that

December Fed funds futures right now

Looks like Trump will win. I'm looking to deploy capital slowly in this crash. Especially on EWZ, which has little or nothing to do with this. Also, now watch as Trump backs out of all the crazy shit he has said and nominates a market friendly Treasury secretary

Normally the stock price can be an indicator of which side is likely to be right, but I dont see any way one should expect rational pricing on the stock side in this enviroment, with: -Hillary likely winning, and the pharma sector is getting a lot of stock outflows -The chance the democrats...

Here is a point that actually matters for the VRX saga, instead of all this short-termism: AGN called VRX a "house of cards", Citron said it was an "Enron", Hempton called it a fraud or something to that effect. Yet they got a new CEO and new CFO who are saying that company is generating $5-$6...

The CFO even said that his ability and confidence to forecast was limited because he was only there for 60 days. His 2017 forecast doesnt mean anything. He just prefers to be wrong by forecasting too low, than too high

So I listened to the VRX call, what I believe is going on here is that the new CFO (it was his first call) is a straight shooter. I can see why they hired him, the guy doesnt try to sugar coat things. He reset expectations in a big way, first by cutting guidance then by giving a pre-guidance...

Either Pearson was the Buffett of drug valuation (was handpicked by Value Act) or he was a fraud who mislead the value guys, inflated the stock to cash out comp and run. There is hardly anything in between. A bearish stance on the stock (whether in the market or via arm chair comments) cannot...

as I understand, your opinion is that you are 100% right about the company and therefore you can dismiss any scenario where you are wrong. its also the opinion of those who are short right now

you got anything to add to the discussion other than to throw rocks when the short-term price favors your previous opinion?

http://thereformedbroker.com/2016/11/07/how-to-become-a-2-investor/?utm_source=dlvr.it&utm_medium=twitter good article

This BRKB vs SPY situation is interesting because so much of what BRK owns are private companies that are kept in the books at the acquisition cost and its not subject to mark to market. In 2008, stocks collapsed like 30-40%, yet BRKB only reported a ~10% book value loss. BRKB stock was down a...

This is true, however, as a counter-point to that is the fact that BRKB got more leverage. I believe Buffett is leveraged around 1.4-1.6 to 1 (combination of float, deferred tax liabilities and bond debt), and the companies he owns, also have debt. A SPY position only has that corporate debt...

FBI concludes Hillary investigation saying no crime, ES up +27 points. Damn

The stock traded 10M on the day after earnings, it traded 4M on the day he bought, and this was expected given that earnings attract so many investors. If he wanted to get in he would have bought on the day after earnings. He waited for the next day because it wasnt just about trying to get in...

Interesting chart on the buyback threshold The risk is that book value goes down, like it did in 2008. But it would take a pretty nasty bear market given that most of the stuff brk owns are private companies not subject to mark to market accounting

It also just seems very wrong to load up in equities after a 7 year bull run which put the CAPE ratio over 25, and was fueled by a apparently flawled thesis of TINA (there is no alternative) But on the other hand, what do you do when you find something you really believe will compound 10%? You...