mungofitch’s Activity

Tue Dec 23

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 8:46 AM

Re: OT: CBI Tax Bounce

There is a chance CBI will see a bounce once tax selling abates
...
Sorry, that chance evaporated as I bought a substantial stake today.


Hear hear.
In fact it's not tax loss selling causing the recent slide, it's the fact [more]

NL

Boards Post

mungofitch replied to the Mechanical Investing board. 8:44 AM

Re: "keep it simple" screen challenge:

If you replace it with a roughly equivalent lenient market cap check, the test could be done from 1986 instead of 2002.
...
Yes, but, then nobody would submit anything based on SIpro data, because it starts in 1997 .
Nor would we see
[more]

NL

Boards Post

mungofitch replied to the Mechanical Investing board. 8:15 AM

Re: "keep it simple" screen challenge:

This method is not perfect [see, for example, the section on "Criticisms"],
but many of the objections to this strategy are reminiscent of common objections to Mechanical Investing as well.


Well, I think the argument [more]

Mon Dec 22

NL

Boards Post

mungofitch replied to the Mechanical Investing board. 4:52 PM

Re: "keep it simple" screen challenge:

must begin with a $500,000 minimum daily dollar volume rule...

This is not a very strict test.
It generally rules out only a few of the 1700 VL stocks.

If you replace it with a roughly equivalent lenient market cap check, [more]

Sun Dec 21

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 11:05 AM

Re: <i>G H U</i>departs

Sorry to hear it

We need someone to take the other side of the argument.
Sometimes we're suffering from groupthink, other times the consensus is right, but
we still need someone to take the other side so we can tell one from the [more]

Sat Dec 20

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 1:07 PM

Re: OT: Mining Companies

One remarks of yours that I'd like you to address a little more was the following:
...
They [Wells Fargo] have some soft skills which, apparently, are not easily reproduced.
...
If I extrapolate this statement to Exxon, they also
[more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 12:57 PM

Re: Poll: OT: Tesla Motors...

For me, it's an Amazon equivalent situation.
Great product. I use Amazon all the time (five different countries in the last 6 months), and twice almost bought a Tesla.
(the Roadster...the S seems like a fine vehicle but not aimed at [more]

Thu Dec 18

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 8:01 AM

Re: IBM

[the article says] Shareholder distributions, which include dividends paid and buybacks...

This is very misleading. A very popular misconception.
Buybacks are NOT shareholder distributions. They are not return of capital to [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 8:00 AM

Re: IBM

[the article says] Shareholder distributions, which include dividends paid and buybacks...

This is very misleading. A very popular misconception.
Buybacks are NOT shareholder distributions. They are not return of capital to [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 8:00 AM

Re: IBM

[the article says] Shareholder distributions, which include dividends paid and buybacks...

This is very misleading. A very popular misconception.
Buybacks are NOT shareholder distributions. They are not return of capital to [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 7:28 AM

Re: OT--IBM, calls, trading, speculating, etc

PS
Want something cool to do with your little profits from this?
Still feeling bullish?
Out of the money calls also have low time value. e.g., Jan 2017 IBM $180 calls for about $8.
They make fine high-quality lottery tickets. i.e., [more]

Wed Dec 17

NL

Boards Post

mungofitch posted to the Berkshire Hathaway board. 3:16 PM

OT--IBM, calls, trading, speculating, etc

I think there might be people out there that "own" some IBM by holding long-dated deep in the money calls.
Some of you may have selected strike prices which are, shall we say, no longer so deep in the money.
Say you got a pinch [more]

NL

Boards Post

mungofitch replied to the Falling Knives board. 12:59 PM

Re: Sberbank, take 2

If it weren't for the government kleptocracy, I would guess that prices are now low enough to compensate for the risk.

Sounds sensible.
IF they were merely spectacularly incompetent, I'd probably be buying, despite the bracing [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 7:15 AM

Re: OT new highs and lows

Ratio now passing 1407...
...
I'm going to wait another two weeks and I'm quite sure I'll be able to do an even 100 B-share swap for 100 IBM:-)


Shouldn't be long at this rate.
The BRK/A:IBM ratio hit 1470 yesterday, so [more]

Tue Dec 16

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 1:30 PM

Re: OT: Mining Companies

Actually the total amount of recoverable petroleum is not "capped and falling daily" whatsoever. It is rising daily as we get better at recovering it.

As an aside, my own comments did not include the word [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 1:11 PM

Re: OT: Mining Companies

Which statement do you think has a greater chance of being true:

A.) 50 years from now mankind will still be pulling hydrocarbons out of the ground and refineries will still be refining the hydrocarbons into products to sell

B.)
[more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 1:00 PM

Re: OT: Mining Companies

Unfortunately it seems you did not get any of the points I made and
didn't address them. Oh well, I tried. I am sorry it did not work out.


Well, ummm, you said
"Exxon produces just as much of a product just like Coke [more]

Mon Dec 15

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 12:58 PM

Re: OT: Mining Companies

"Plus, they don't in the strict sense produce anything.
They dig up, transform, transport and sell bits of a diminishing resource."
...
Oh come on! You are doing it again with the absurd reduction.
By any reasonable
[more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 7:10 AM

Re: OT: Mining Companies

BTW what is the "no close substitute" moat for Wells Fargo?
After all it is just a pipeline for the most fungible commodity of all, money.


They have some soft skills which, apparently, are not easily [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 7:04 AM

Re: OT: Mining Companies

" He took the cash today instead, selling at a discount representing only the time value of money."
...
The discount not only represents the time value of money. That discount also represented the difference
in the mining
[more]

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