howardroark’s Activity

Tue May 23

NL

Boards Post

howardroark replied to the Berkshire Hathaway board. 6:12 PM

Re: Peak Passive

I don't quite know how to make the argument but I strongly suspect that the effect of all this passive investing on stock prices is not very great.

As much as I'd like an easier benchmark, I agree with you; I hate these [more]

Mon May 15

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howardroark replied to the Deranged Monkey Criticism board. 4:20 PM

Re: What is the right structure?

So what is the right structure?

I don't think there's any universal answer. I have charged 1&20 for almost fifteen years, yet I can see plenty of flaws in the structure. I mean, in theory that price allows you to own the [more]

Sun May 14

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howardroark replied to the Deranged Monkey Criticism board. 11:08 AM

Re: Profit Sharing in Funds

This doesn't sound great. The previous poster made a point about high watermark protection. This is one piece of an incentive quandary most hedge fund investors face. The profit sharing structure can be laden with risk taking incentives. And high [more]

Wed Mar 8

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howardroark replied to the Last RoundUp board. 4:19 PM

Re: Before you leave...HBI?!

Should you pay 14.5x for a no-moat underwear company that AMZN has targeted? I'd say half that.

Naj, you of all people should know that underwear moats are not as desirable as Buffett imagines.

Thu Dec 29

NL

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howardroark replied to the Liquid Lounge board. 12:48 AM

Re: Hussman weekly commentary

Not to defend Hussman, but I'm sure that you would agree that performance attribution can be a tricky business.

His entire argument was that if only dumb dumb mr market had read fluid dynamics and understood boundary conditions it [more]

Tue Dec 27

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howardroark replied to the Liquid Lounge board. 6:43 PM

Re: Hussman weekly commentary

also, while i'm here, why not be a jerk. multiple thread topic summary from 11-12 years ago: hussman thought google's dutch auction led to an irrational ipo price ($42, split adjusted) fueled by irrational speculators who didn't [more]

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howardroark replied to the Liquid Lounge board. 6:15 PM

Re: Sears Earnings

hello mr. howard, sorry for the late reply. if i may say you were a lyrical genius in your day and a quippy business historian to boot. but in case you have taken your eye off the ball or more likely have found yourself with internet privileges doled [more]

Sun Nov 20

NL

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howardroark replied to the Deranged Monkey Criticism board. 4:53 PM

Re: A Few Ideas

I meant of course $1.0+ B in EXCESS of cost, if you record at market. Thomas Cook of India, Cara, ICICI holding, etc...

that's a fair point and always kind of a tough call. surely if you're shorting them out you can give full [more]

Sat Nov 19

NL

Boards Post

howardroark replied to the Deranged Monkey Criticism board. 9:00 AM

Re: A Few Ideas

one point about Fairfax. when you talk about it trading near book value, it's worth noting this includes goodwill. there's nothing wrong with giving them credit for acquiring good insurance businesses (I miss you Zenith), but if FFH were [more]

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Big red star, 1000 posts Top Favorite Fools Feste Award Nominee! Old School Fool
Board Posts 3167
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Very First Post MONT sellling (6/22/1998)
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