Global Macro Trading Journal
- Thread starter Daal
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Back from Davos ... just kidding, only Scottsdale - not as crowded with big names, but considerably warmer - to find an old argument with Martin settled.
A EU court rules in Iceland's favor on its deposit guarantees. This is a sweeping, landmark ruling I encourage all to study. It cannot - as far as I can tell - be appealed.
http://www.ft.com/intl/cms/s/0/4258b6da-693b-11e2-b254-00144feab49a.html#axzz2JHLurelg
A EU court rules in Iceland's favor on its deposit guarantees. This is a sweeping, landmark ruling I encourage all to study. It cannot - as far as I can tell - be appealed.
http://www.ft.com/intl/cms/s/0/4258b6da-693b-11e2-b254-00144feab49a.html#axzz2JHLurelg
I thought I was on ignore.
Are you gonna come running to the board every time NFLX goes up? Tilson no longer runs his fund - shoved out due to bad performance. Whatever he made in NFLX he lost in GMCR and HLF.
Tilson Focus Fund is up 2% YTD, -19% Y/Y. Outstanding. It gets a 1-star rating from Morningstar only because 0 stars aren't given out.
It's not just you. And this is actually my problem with AAPL from a fundamental perspective: it doesn't make any sense to me at all that one of the most widely-owned, highly fashionable tech-darling stocks can be meaningfully undervalued in the midst of an extremely strong equity bull run with many stocks, sectors and indices making new 5+ year highs. It's pretty much the same problem I've had with the stock for the past couple of years, and while there was certainly money to be made playing the mania we're now back to where we were a year ago.
Technically, it looks to me like the recent action can easily be just a pullback on the way to 1000. It could also easily be the beginning of the sort of action we saw in MSFT after 2000, i.e. the decisive end of the manic-boom phase and the start of year after year of sideways rangebound grind.
Either way I think the company is solid enough I'd make a few buys in the 300s and see what happens; probably not before that except as a purely technical play.
From Fabers latest newsletter
A few years ago, after George Soros retired from the day-to-day management of his funds, he invited me to his house in the Hamptons.
I asked him at the time, if he felt that he would no longer perform as well as he did before, now that he was no longer involved in dealing in financial assets on a daily basis. His response was that he was actually performing better since he went into semi-retirement because he
had now the time to take a more detached and less emotional view of markets.
A few years ago, after George Soros retired from the day-to-day management of his funds, he invited me to his house in the Hamptons.
I asked him at the time, if he felt that he would no longer perform as well as he did before, now that he was no longer involved in dealing in financial assets on a daily basis. His response was that he was actually performing better since he went into semi-retirement because he
had now the time to take a more detached and less emotional view of markets.
Efficient markets fail.
Pretty much in a straight line, Markel has gained back nearly all it lost following the announcement of the Alterra purchase, which even an idiot could see was going to be a positive for the company.
The shares were stupid cheap when I recommended to buy at X-mas time. Now - at about 1.2x book value - just cheap.
Pretty much in a straight line, Markel has gained back nearly all it lost following the announcement of the Alterra purchase, which even an idiot could see was going to be a positive for the company.
The shares were stupid cheap when I recommended to buy at X-mas time. Now - at about 1.2x book value - just cheap.
