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I think trading is a bad career because it’s fundamentally unfilling. You will have to find fulfillment in other things - like family, charity, etc. we all need to feel like we are doing something for the world, other than just existing in it for our own pleasures (whether that be skiing or...

When’s the last time you went to your congressman with a gun in your hand to demand change? Can you please do that today? Please! I’m getting giddy just thinking about how far you make it before being gunned down by secret service and then seeing all your friends and family disavowing any...

This whole post reeks of a salesman wearing a cheap suit and a fake Rolex poorly pretending to not be a salesman.

There's a theory that Jesus was also black. How would so many Europeans feel about that?

Perhaps not.

He is worth over a billion dollars. Personal alpha is the only alpha that matters.

I gotta figure out how this stuff works. I met a few people in my town at a family event who are doing it and earning enough that this becomes their job.

Value investing is great if you don’t have to deal with redemptions and short term marked to market. You buy stuff that earns your large increases in book value. Sooner or later the market catches up. But it’s hard when you are solely judged on if the market has caught up to the fundamentals.

No. It’s a transfer of wealth and one party spends less when another might spend more.

Disinflation is a bad thing. If there is negative inflation there is no reason to invest or spend now because things will be cheaper tomorrow.

Oil is essentially a tax as the demand is very inelastic. When oil prices drop, consumers have more spending power but oil companies do less investment. Cheap oil isn’t bad or good.

Are you a billionaire? Likely not so your opinion is also worthless.

He’s so quick to call you a “libtard” that he supports anti-vaxers who are generally liberal.

I thought about lasik but they said I might still need reading glasses. What was the point then? However, my wife got it in 2002 and no issues at all.

I’m not sure how your personal infidelity’s made the content of this conference not valuable.

I do it manually in excel with a sql database. Every trade is allocated to a strategy. Then I calculate on a realtime, mtm, and realized basis how those strategies are doing. The broker sees my book as a bunch of positions - but I see it as a handful of strategies.

Good call on both. I am up on WHR. Would have done much better had I not hedged in the post market.

I agree it’s a lot more scary if those guarantees are backing cash flows or an intangible idea. It’s less scary when they are backing steel and dirt.

I don’t know about you but I had significant unlimited personal guarantees when I bought my first business (from loans from a commercial bank). After a few years, they are still significant but limited. It’s common for banks to require this.

Monopoly as a game was designed to show how capitalism really works. It’s actuslly a game of luck and rate of return masquerading as a game about business prowness. Once the board is filled up with owners (determined by a role of the dice) the winner has essentially been determined and all the...