Thank you for the call 4 months ago BS
I really need to hold on for a long-term gain. Looks like it won’t close until well into 2017 so that might not be too risky. Could hedge, but the tax law is not exactly clear on how much exposure must remain.
Nothing wrong with selling Huskie, great trade all around psyched that it worked out.
Ghibli, you should feel very comfortable holding this position for the long term gain. There is near zero deal risk at this phenomenal equity value on a bolt on acquisition that perfectly complements Komatsu’s holdings by providing a response to Cat’s Bucayrus. On the bond level you have a T+50 call that would place valuation on those '21s at around $116 which might make sense to Komatsu to pull all debt in to Yen denomination at low to negative rates. Alternately, if Komatsu keeps the debt outstanding, it comps vs CAT’s A2 debt of similar maturity at around +55 so it should still price above $114 once the deal locks in.
give us another beat down stock recommendation BS. Hook a brother up.
Thanks for the comment. Any plans to cash-in on all the sector knowledge you are gaining before you disappear into the wilderness?
Few and far between in this environment. If we can get another industrial pullback I may have a few. USCR has been catching my attention, but not at these levels we need a good industrial correction maybe later this year. I’ll be sure to pound the keyboard about it if the prices get down where they need to be.
I wish, fingers crossed to someday be one of the Ghibli’s of the world so I can leave suburbia.
^Except in my World, I’m small fry. I need a change of attitude.
Anybody remember this letter? Blows me away that he was 22 when he wrote it. I probably should post it in the “What’s your number thread?”
https://www.farnamstreetblog.com/2014/05/hunter-s-thompson-to-hume-logan/
Awesome letter, its impressive that he clearly put so much thought into it like he wrote it for himself.
For me, when I think of the happiest times of my life they often were the simplest so most of my goals are trying to get back to a point with enough free time and flexibility to allow for spontaneity again. It seems like that must be some function minimizing things against a reasonable amount of money. Even if you own a wealth of assets outright, they’re still just liabilities requiring maintenance and attention.
^The thing about having excess capital is that if your ambitions change, as Thompson suggests they will through the years, you have left a lot of options open. If you step off the train, I would think it’s pretty hard to get back on, unless you can buy a ticket. But Hunter did put a bullet through his skull. There’s that, to borrow ohai’s phrase. From Wikipedia - Rolling Stone published what Doug Brinkley described as a suicide note written by Thompson to his wife, titled “Football Season Is Over”. It read: “No More Games. No More Bombs. No More Walking. No More Fun. No More Swimming. 67. That is 17 years past 50. 17 more than I needed or wanted. Boring. I am always bitchy. No Fun — for anybody. 67. You are getting Greedy. Act your (old) age. Relax — This won’t hurt.”[48] Thompson’s collaborator and friend Ralph Steadman wrote: “… He told me 25 years ago that he would feel real trapped if he didn’t know that he could commit suicide at any moment. I don’t know if that is brave or stupid or what, but it was inevitable. I think that the truth of what rings through all his writing is that he meant what he said. If that is entertainment to you, well, that’s OK. If you think that it enlightened you, well, that’s even better. If you wonder if he’s gone to Heaven or Hell, rest assured he will check out them both, find out which one Richard Milhous Nixon went to — and go there. He could never stand being bored. But there must be Football too — and Peacocks …”[49]
Meh, my ambitions never changed. I always wanted to do outdoor sports and carry an unburdened lifestyle. Now I have a kid so that is going to create some forms of basic required earnings but more broadly when I started into sports I thought they were expensive. After I got really into the sports I realized they’re only expensive to people that are bad at them. The more into the scene I got, the more free hook ups I got and the more I found the community was able to collaborate to make adventures happen. After awhile I realized the corporate job in a lot of ways for me was simply redundant.
Having a corporate job and spending 40 years accruing capital isn’t broadening your options, it’s limiting them because of the 1 million times you say no to an opportunity for the sake of an obligation or out of fear of taking those steps. The only thing that allows less flexibility to adapt to changing ambitions than a shortage of capital is a shortage of time or lifespan. I didn’t have capital at 22 years old but I had flexibility because I had time and to my prior point, few liabilities. Every entrepreneur I’ve ever talked to has hammered through the point that having few liabilities is far more important than having capital.
A joke, or is it worth reading?
I think you’d find it very worthwhile. You’ll be amazed at how frequently Buddhist principles are talked about by people who have no idea what Buddhism is. The link you posted has several Buddhist philosophies running through it.
Do you ever look around and see all the great discoveries, creations, and institutions? Do you ever think you should be part of that? Do you ever feel you should because you were given the aptitude and opportunity? A life of leisure is one thing, but many are working hard to ensure that you and your family have that option. While you’ll probably provide a stable home for your children, are you doing anything to ensure that they have the freedom and opportunity you did? I’m not. I’m milking the system for my benefit on the backs of those that came before me and those putting in the time now. Thank goodness for those with a purpose. I don’t have one. Sad I know. But I really don’t have a choice in the matter.
Are you a fan of that particular book, or did you just select any old book on Buddhism? I’ll probably give it a read.
it’s a good place for someone to start. Not ‘buddhism for dummies’ but isn’t written with a million terms and words you’ve never heard before.
^Great. Thanks for the recommendation.
High level sports are difficult and often life threatening. There is incredible purpose there in the same way a monk who dedicates themselves to a cause has a purpose or a musician that dedicates themselves to mastering the violin has great purpose. I think understanding nature has a high purpose. If people want to celebrate steve jobs or zucherberg, or any other major advancement great, I think it’s cool but don’t view it as some higher calling. The internet did not improve the critical thinking capacity of the individual person or lead to a more wholesome lifestyle. All you wind up with is reflexively lazy thinking, vanity, vitriole (read youtube comments for a few days) and unhealthy lifestyles played out into poor mental and physical health and disconnected societies. I don’t view the last 100 years and it’s race towards processed food, pollution and materialism as a monument to achievement. Some may, but I’m allowed to hold a contrarion viewpoint and set of values. I’ll be glad to pass those on to my kids.
^Certainly agree, but I was thinking in terms of the freedoms we enjoy in this country might not always exist if somebody is not actively looking after those rights while I’m practicing Buddhism. Maybe I’ll just send a thank you letter now and then.