mungofitch’s Activity

Tue Sep 19

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 11:10 AM

Re: OT CBI Heating up

An image of "fake news" came up when I looked for news on such a buyout.
The rumour seems to be without a source, but FWIW it mentions a price of $25.50.

Jim

Mon Sep 18

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 3:50 PM

Re: Bloomberg Article on Storage Battery Cost Cu

...but other kinds of batteries (flow batteries and adiabatic compressed air energy storage) may get there even sooner.

Put me down for aluminum-air batteries, with the aluminum cartridges re-smelted in a peaceful and stable [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 12:29 PM

Re: BYD Starting to Stir

I speculate that BYD may be discussing grid battery storage for wind turbine farms w/BRK Energy...

Not crazy.
In particular, if I remember correctly, the BYD stake is owned by BHE, not Berkshire Hathaway parent or an insurance [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 12:20 PM

Re: Portfolio construction - 50% BRK

There is an advantage to the second choice; and that is price or market risk. If the market tanks;
and you need the income (to live on) - then having the company issue you the income via a dividend that is not
tied to the market price of
[more]

NL

Boards Post

mungofitch replied to the Mechanical Investing board. 6:10 AM

Re: Dow 22,000 again. Yay!

How times have changed.
...
Or have they. The bigger question is if the times have changed, by how much?


Well, things have definitely changed a lot.
If you told a stock broker from the '60s or '80s about [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 5:48 AM

Re: Portfolio construction - 50% BRK

Taking, rather than reinvesting, dividends amounts to a drawdown; as you say: “a way of receiving the earnings
on the underlying security.” However, people who might disagree with “never” might not disagree with this.
They likely would
[more]

Sun Sep 17

NL

Boards Post

mungofitch replied to the Mechanical Investing board. 11:42 AM

Re: Optimal rebalancing frequency

Is it possible that the "never rebalance" does well simply because by the endpoint you have a portfolio that's a lot higher than 60% equities?

There is a separate issue of what's likely starting from here, rather than what [more]

NL

Boards Post

mungofitch replied to the Mechanical Investing board. 11:18 AM

Re: Dow 22,000 again. Yay!

So for a 1st-pass overview of how things are going, it doesn't matter which one you look at.

Just to be clear, my comment was intended to be tongue in cheek.
Certainly lots of people still look at the level of the Dow [more]

Sat Sep 16

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 4:26 PM

Re: Portfolio construction - 50% BRK

My two cents.

First cent:
You mention the dividend yield on one of the components. That's a red flag.
Ignore that. *Never* buy something based on its yield. A dividend yield is just a way of receiving the earnings on the [more]

Fri Sep 15

NL

Boards Post

mungofitch replied to the Mechanical Investing board. 12:57 PM

Re: Dow 22,000 again. Yay!

I notice I own stock in only two of the 30 stocks in the DJIA: INTC and VZ.

I don't own any of the 30 directly, but I own Berkshire which I think owns 8 or 9 of them.
Very big positions in Amex and Coke and IBM.

Jim

NL

Boards Post

mungofitch posted to the White Mountains Insurance Group board. 12:54 PM

Tender offer

White Mountains just bought back some shares.
Rather a lot...13.53% of all stock outstanding in one go, just over half a billion bucks' worth.


Old total 4,336,813
Repurchases 586,733
New total 3,750,080

I [more]

NL

Boards Post

mungofitch replied to the Mechanical Investing board. 12:32 PM

Re: Rule Based Mutual Fund

Rule: The "enhanced" in the find's name name comes via an actively managed fixed-income portfolio
that serves as collateral for a strategy that uses total-return swaps to access the index.
“If you give me $100 to invest, I
[more]

NL

Boards Post

mungofitch replied to the Mechanical Investing board. 12:25 PM

Re: Dow 22,000 again. Yay!

The DJIA hitting 22000 surprises me less than the fact that anybody still watches the Dow.
Did it come up on your ticker machine?

: )
Jim

Tue Sep 12

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 11:16 AM

Re: O/T: CBI again

It has been a remarkably smooth steady rise, if you look at a chart that includes intraday prices since the low, maybe 28 cents per day.
Far smoother than the broad market.

I might make the wild speculation that this means some big [more]

Fri Sep 8

NL

Boards Post

mungofitch replied to the Brookfield Asset Management board. 3:54 PM

Re: BAM prepared to exit palladium stake

If you had to explain this situation to a young child, or a golden retriever, what would you say?
Anyone willing to give it a try?


OK, let me guess.

Four years ago they initially lent money ($130m) at a huge interest rate [more]

NL

Boards Post

mungofitch replied to the Mechanical Investing board. 3:24 PM

Re: Comment on preferreds

Here is the question: is this "reaching for yield?"

Or is this just a boring way to invest your cash and park it for a while earning dividends. And given that
interest rates are supposed to be going up, the preferreds do
[more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 3:13 PM

Re: Stock Market Going to Get Less Pricey!

Ideas appreciated.

One thought:
Don't use an ETF.
Use the FT.com global stock screener and pick 15-40 companies yourself. Buy and forget.
No fees, no rebalancing, no cap weight drag, no [more]

Thu Sep 7

NL

Boards Post

mungofitch replied to the Brookfield Asset Management board. 3:47 PM

Re: BAM prepared to exit palladium stake

possible sale ... even as prices for the metal ... soar.
...best-performing major metal this year, with a 38 percent jump.


Classic Brookfield playbook.
Sell into optimism for the asset.

Jim

NL

Boards Post

mungofitch posted to the Brookfield Asset Management board. 3:37 PM

Trisura spinoff tax

Just checking my statements, I had an unpleasant tax bill from the Trisura spinoff.
Did anyone else?
Usually such spin-offs are structured to be tax free, not categorized like taxable dividends.

Mine worked out to US$4.10 for each [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 3:29 PM

Re: Watson not what it's hyped up to be...

I seem to remember Buffett being pretty enthusiastic about Watson.
And, sure enough, a recently as last May he said on CNBC:


That's 2017.
Watson's first commercial application was in 2013, and the API was published [more]

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