howardroark’s Activity

Thu Dec 25

NL

Boards Post

howardroark replied to the Berkshire Hathaway board. 10:30 AM

Re: Wandering . . .

True story. Around thirteen years ago I was a rather young, rather bad, lawyer. A lottery ticket fell into my lap, but I was naturally suspicious. Maybe just rip it up? I sought advice from a few unorthodox places, including from one or two people [more]

Tue Dec 23

NL

Boards Post

howardroark replied to the Deranged Monkey Criticism board. 3:48 PM

Re: Peter Lynch - One Up - On P/E Ratio

May I inquire how you handle liquidity risk?

Depends on lots of contextual factors. One is my own duration mismatch. The more worried I was about investors pulling the more I would charge myself for illiquidity. For PA type operations [more]

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howardroark replied to the Deranged Monkey Criticism board. 1:24 PM

Re: Peter Lynch - One Up - On P/E Ratio

No checklist -- same with pretty much everyone I speak to. In my early days my default position size was 8-15%, and I wouldn't work on anything I didn't want to make that big. Now I will buy smaller positions sometimes, when I am generally unsure, [more]

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howardroark replied to the Deranged Monkey Criticism board. 12:05 PM

Re: Peter Lynch - One Up - On P/E Ratio

Naj, one day I'd like to explore your position size methodology (again)

Hey pal, this ain't grindr. Let's keep it professional.

Sun Dec 21

NL

Boards Post

howardroark replied to the Deranged Monkey Criticism board. 4:57 PM

Re: Oil Play for Dummies

My advice: Don't ask how interest rates affect equity valuations. Ask what factors affects both interest rates and equity valuations. Time preference shifting toward today from tomorrow? Higher real rates, lower equity prices. Risk spreads [more]

Thu Dec 18

NL

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howardroark replied to the Deranged Monkey Criticism board. 4:57 PM

Re: off-hand remark

You know you are closer rather than farther to retirement when, in days when you are make a pile of money, you are incredibly down about it cause your relative 'numbers' suck now

The tyranny of the market is life cycle indifferent to [more]

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howardroark replied to the Deranged Monkey Criticism board. 4:31 PM

Re: Investing approach

Hey, you left out the annual lunches of Chik-fil-A with mall assistants from Chess King and Zubaz!

Dementia is setting in. I actually had to look up Zubaz.

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Boards Post

howardroark replied to the Deranged Monkey Criticism board. 4:26 PM

Re: Investing approach

Bloomberg. It's great for that stuff. If you have it you can use the TRA or COMP functions, for example. Make sure your dividend setting is correct.

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Boards Post

howardroark replied to the Deranged Monkey Criticism board. 9:02 AM

Re: Investing approach

With dividends, the CAGR from Buffett's original 1988 purchase is about 14% compared to 10.4% for the S&P. The 1989 follow on purchases are ~13% vs. 10% for the S&P. The last 1994 purchases of ~$300m to hit an even 100 million shares (at the [more]

Wed Dec 17

NL

Boards Post

howardroark replied to the Deranged Monkey Criticism board. 8:50 AM

Re: Russia

Germany monetary policy circa 1922, if not Number 1 on your list, should be Number 2

Out of time placeholder objection. I don't think they are 1 or 2 or 3 or 4. I also don't have an actual list.

Also, please tell gocanucks [more]

NL

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howardroark replied to the Deranged Monkey Criticism board. 8:45 AM

Re: Russia

How many companies/equity has Putin (or his cronies) personally extracted from international minority equity holders?

Give the guy a chance. It's daunting enough to get through your long list of house arrests on all the exciting [more]

Tue Dec 16

NL

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howardroark replied to the Deranged Monkey Criticism board. 7:37 PM

Re: Russia

but some of the micro-cap names I own (and loved on VIC) have far more questionable mgmt at the helm.

Than Putin? Does Kim Jong-Un run a pink sheets company? How many shares did you buy?

Turkey was under severe stress [more]

Wed Dec 10

NL

Boards Post

howardroark replied to the Deranged Monkey Criticism board. 6:32 PM

Re: Help with Debt - CBI

Curious if their risk dept is having them short common to reduce their exposure.

Nah, this isn't 2006 anymore. BofA gets a 250% capital charge for their corporate Netflix subscription now. Merrill sold those notes straight thru via a [more]

Mon Nov 24

NL

Boards Post

howardroark replied to the Deranged Monkey Criticism board. 4:38 PM

Re: The Walking Threads

Posted without comment

Thank god I copyrighted the Corey Feldman joke. Here's a non-sequitir pair of quotes I ran across today after becoming technostalgic (feel free to pilfer that one at will, internet finance journalists) upon [more]

Fri Nov 21

NL

Boards Post

howardroark replied to the Deranged Monkey Criticism board. 6:56 PM

Re: Handing Big Debt Companies

how does one determine this?

If it is cheap enough given the leverage structure?


I read this thread quickly -- at some point I think you were trying to double count the cost of leverage, but I think you got to the basic [more]

Fri Nov 7

NL

Boards Post

howardroark replied to the Deranged Monkey Criticism board. 2:17 PM

Re: The Walking Threads

Resurrection possibility: Parachute pants

Important update. Noted Thread Walker Body Central may be attempting to execute the never-before-tried Vanishing Zombie maneuver. The perhaps soon to be ironically named BODY announced today [more]

Sun Oct 26

NL

Boards Post

howardroark replied to the Deranged Monkey Criticism board. 8:47 PM

Re: amzn

I choose to believe that there are multiple pathways to success and multiple approaches to Non-GAAP reporting. Some of these models/approaches/pathways are going to be very foreign to value investors, yet still remarkably successful. Imagine [more]

Sat Oct 25

NL

Boards Post

howardroark replied to the Deranged Monkey Criticism board. 10:22 AM

Re: amzn

Is their any good justification for AMZN not including their sizable capital lease obligations in their FCF calculation? It looks like that is not running about $1.5b for TTM.

No. About the best thing you can say is that FCF is a [more]

Thu Sep 18

NL

Boards Post

howardroark replied to the Deranged Monkey Criticism board. 3:39 PM

Re: Interest Rates for Dummies

Probably. Why? Because I think Buffett is (gasp) wrong (error of omission) when he wrote:

That may be the least of the gasps. Please know that I am filled with the same quaint mix of disdain and incredulity at myself as everyone else [more]

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Boards Post

howardroark replied to the Deranged Monkey Criticism board. 3:34 PM

Re: ESL & Sears

I don't think it's calculated move to extract value. I think they promised factors $1b in liquidity this year and the sales of Canada/Auto/Protection are going slowly/badly, and suddenly they were coming into the holidays tight. It would be [more]

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Boards Stats & Trivia

Big red star, 1000 posts Top Favorite Fools Feste Award Nominee! Old School Fool
Board Posts 3106
Recs Received 21761
People who have rec'd these posts 2758
Recs to Posts Ratio (last 30 days) 11.20
Threads Started 476
Threads Started Percentage 15.33 %
Most Frequent Board Liquid Lounge
Very First Post MONT sellling (6/22/1998)
Percentage of Posts Rec'd 74.76 %
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