BC MACRO

Dividend Growth Investor
@DividendGrowth 4 years, 11 months ago 715 views

Smart-sounding reasons to sell as the market rose:

h/t @morganhousel

More from Dividend Growth Investor

Dividend Growth Invest...
@DividendGrowth

A financial advisor that charges an annual fee of 1% on assets under management

Essentially takes 50% of your dividend income, if your portfolio yields 2%

That's substantially worse than the highest rate on qualified dividends of 23.80% today

Few understand this

I agree with this

After 34 years in the business, I just can\u2019t get my head around how an adviser can justify charging a client any more that $2,000 per year for financial advice, and 0.25% per year for asset management if needed. There may be outliers that cost more, but those are the expectation.
— Rick Ferri (@Rick_Ferri) June 15, 2021

Dividend Growth Invest...
@DividendGrowth

Charlie Munger has a net worth of $2.5 billion

He owns 50k shares of Daily Journal $DJCO, a 3.6% stake valued at $18M

Daily Journal has a portfolio worth $259M, which includes $72M worth of $BABA stock

If $BABA or $DJCO went to zero the total loss to Munger would be negligible

Dividend Growth Invest...
@DividendGrowth

@JDP223 @ekmokaya "The Snowball"

Dividend Growth Invest...
@DividendGrowth

Charlie Munger on Delayed Gratification:

I've also got the money-sense gene. The first 13 years I practiced law, my income from practicing law was $300,000 total.

At the end of that 13 years, what did I have?

1/

A house. Two cars. And $300,000 of liquid assets. Everyone else'd have spent that slender income, not invested it shrewdly, and so forth.

I just think it was, to me, it was as natural as breathing, and of course I knew how compound interest worked!

2/

I knew when I saved $10 I was really saving $100 or $1,000 ,because of the future growth of the $10.

It just took a little wait. And when I quit law practice it was because I wanted to work for myself instead of my clients, because I knew I could do better than they did.

3/

You only get a few opportunities, and you have to grab them aggressively when they come because even in the most favored life, they're really rare.

I always feel that the opportunities are rare. I only get a few and then I have to seize them aggressively.

4/

Now that lesson I just talked about, it is taught in no business school I know of. But…everybody who has any sense ought to know [that] at the start of life, and practically nobody does.

I just described reality the way it really is.

5/

Dividend Growth Invest...
@DividendGrowth

Successful investing comes down to how much investors make when they’re right and how much they lose when they’re wrong.

More from Macro

Ritholtz Wealth
@RitholtzWealth

Predicting Inflation is Hard

"The main argument at the moment about inflation is whether it’s finally here to stay from all of the government spending or simply transitory from a quirky pandemic economy."

https://t.co/0CaOOQUYvU

by @awealthofcs

Santiago Capital
@SantiagoAuFund

@nicole_daruda yea...and their economy is still smaller than that of the US. So on a GDP Basis its even worse for the EU...

Brian Feroldi
@BrianFeroldi

My inflation strategy:

Own businesses with recession-proof demand and pricing power

Charlie Bilello
@charliebilello

Hello $29 trillion...

https://t.co/XgZmSZVGu0

The reported national debt has been stuck at $28.9 trillion as we hit the new "debt ceiling" back in October, only a few days after it was raised. It now needs to be raised again, with the next debt ceiling "deadline" on Dec 3. When that happens, we'll quickly hit $29 trillion.

Travis
@coloradotravis

QE, Liquidity Removal, and the Alchemy of Money

I’ve been watching @MetreSteven say stuff like “QE removes liquidity” on here for a while after which people sort of stare blankly or roll their eyes.

Let’s give it one more go, via a traditionally quirky explainer.
1/

At the heart of every monetary system is an act of alchemy.

Let us start by describing this act: the act of monetary creation.

At the center of alchemy lies the Philosopher's Stone - the prime reagent for money creation.

For a long time this was gold.
2/

For if you had gold, you could lend against it.

From the Philosopher's stone of gold, we could spawn two things:

1. Circulating money
2. Debt

Money and debt are twins, both born of the philosopher's stone and their fates forever linked.
3/

For you see, there are rules which govern alchemy.

An alchemist is only allowed to create a certain amount of money for each philosopher's stone.

And the Debt was greater than the Money (due to interest), making the system inherently deflationary.
4/

And this deflationary nature drove the people to want more money in circulation.

So the rules of alchemy were evolved to allow each stone to create more money (fractional reserve banking).
5/

While they were living their humdrum lives, one day Malhar Rao Holkar, commander of the Peshwa Bajirao & Lord of the Malwa stopped in Chondi on his way to Pune, where he couldn't help but notice a young 8yrs old Ahilyabai in the temple service feeding the poor & hungry.

He was so impressed by the sheer innocence&beauty with simplicity character of Ahilyabai dat he asked her hand in marriage for his son Khanderao Holkar.Just like that she got married to Khanderao in 1733 at a tender age of 8&became a bride of esteemed Maratha community of Holkars

But destiny had something else in store for her as her husband died in the Battle of Kumbher in 1754 leaving her widow at 29.Distressed Ahilyabai was to commit Sati when her father-in-law Malhar Rao refused to let it happen.

Anastasis
@OrdersofM

https://t.co/6cRR2B3jBE
Viruses and other pathogens are often studied as stand-alone entities, despite that, in nature, they mostly live in multispecies associations called biofilms—both externally and within the host.

https://t.co/FBfXhUrH5d

Microorganisms in biofilms are enclosed by an extracellular matrix that confers protection and improves survival. Previous studies have shown that viruses can secondarily colonize preexisting biofilms, and viral biofilms have also been described.

...we raise the perspective that CoVs can persistently infect bats due to their association with biofilm structures. This phenomenon potentially provides an optimal environment for nonpathogenic & well-adapted viruses to interact with the host, as well as for viral recombination.

Biofilms can also enhance virion viability in extracellular environments, such as on fomites and in aquatic sediments, allowing viral persistence and dissemination.