36 Burst results for "Hathaway"
Fresh update on "hathaway" discussed on The Trade Tribe
"Play on. You'll be interesting to see how that plays out. Loud of restaurants are surprised to do well during this pandemic. and it's not preserve flicking that to happen. We anyone else have. I seen how good man hustle weekday was something out for you this week. He profits losses easy. Learn visually firearm. Just like that like socks. That go up. Is i think last month weeks ago. I that would be nurse on mondays. Now's when i was you. Go into a geo of boeing and honeywell but aren't all kinds of scared about that. And then i saw at least rise. The is i was like okay. It's probably the drop on. Tuesday kept on rising. I was on a kick myself that i was looking at those stocks because Like la business in china vials. Li like those like those regulations probably like slow down but yeah looking closely socks. So ab geo boeing honey france. That's good that's a good like bunch of stocks all of our heavy hitters stocks like economic. Most like they have stuff that really keep them comes on the same side of things so you can't do where over there though anyone out this week before we go into the weekend alibaba and i deal with that. Got by chinese government would have liked that but is crazy but it's the first day we get picked up. It was donated over the weekend. I had him jumping on thursday. I just made a day obstinate thursday. And i came up about thirty percent from that and the day from the option so that was nice to have we absolutely have to be good overall percents last last of the first ones. Thanks fax back alibaba anymore. You go to downstream now or did he dial amazon because alibaba amazon. Competitor's i think it's i think the trade the fact that didn't go through every that was a bad mark but another that's gonna hold them down for the long when they going to just go back so o one that we didn't get mad one day we're facts of tax house pretty much the week in review a lot of criticism happen this week and i feel like if anything this next week to be equally as interesting There are a couple of things going on especially with the kind of post effects of the election about that was going to happen. I'm originally wall street at pretty much. Bet that y'all stock markets crash but despite the stock market cut price advocate yet win so now beaches the okay. Not at biden has one until trump is trump contest that like still take credit for the stock market going moving the way it did under his four years. A lot worse. Don't matter but as no sea is interested like wasn't all happen. I did see a lot of people talking about okay. What is what's going on if trump won by one on so it'd be interesting to talk about that too. I'll engineering all saw earlier today. And the question. Is they all going up because really the market is already readjusted itself and is now going to start fixes. I think there's a major concern for for energy I think there's a major concern for any corporation that hasn't been doing their due. Diligence or expecting a buyout of the government like the airlines are in trouble. So you think that's a move them much i think also with the cruise lines will also be affected. Yeah anything to do with travel because People like people like need who normally travel you know ten to twelve times a year. I haven't travelled at all this year and that's going to be the same thing for next year like if it's not within driving distance i'm just not going. Don't get married facts on anything else. That's the not to anyone else coming up this week. I know a couple of berkshire hathaway reported on saturday. I can't remember what they said about that. Monday did make a huge investment like been quiet and sitting on one hundred thirty billion dollars worth of cash and now the past rounding up this time to buy stocks huge stake of tesla some other company. So they're starting like you're starting to see a warren buffett like mchugh lose excellently stocks and other financial institutions to What are some like the deal feel like the markets will probably i saw it. Can it be growth. Growing up with biden's supporting legalisation of weed in different states. Shot up on. Friday cannabis shot up friday. I'd seen that too. That's one of the big the big bigger kind of be stock marijuana stock players. I think i've heard of down onto the which. I want to go on sandwich to the big ones i know of is kind of be growth a raw kind of which which other wheat stocks clank be affected by like legalization fifty six percent. That is crazy at its climax was up eighty eight. It never went up that much when it started getting illegalize and other states of over these past year or two years on twenty. Two states legalized in some form or fashion. Three was never been like that before most thirteen i. i was trying to tell carcass. There's this company called grow generation. Don't sell weed but they sell The tools you need to take care of grow at all of that. Like shovels light soils those kind of things so i think It's also good to look at the suppliers of these companies. Like if we see that cannabis is gonna do well however you people taking care of and growing older somebody who sells a grower criminal. Gross like growing our industry. Yeah may be our w. g. r. w. allegedly out. Not checking another one i've heard dot. Co or something like that. G are the.
Tesla just passed Berkshire Hathaway as the sixth-largest company in the U.S.
"Tesla today with its close above five hundred and fifty billion dollars. Market cap also moved up a slot in terms of the rankings for most valuable publicly traded companies and after talking about berkshire hathaway and episode. Last week we get to mention them here again. Because that is the company that tesla has passed on the rankings. Moving from number ten to number nine and also in terms of us based companies up from number seven to number six quick note here on the s. and p. five hundred inclusion process when the announcement was made that tesla will be included of course the s&p was seeking feedback on how to structure that inclusion. And just as an f. y. e. s. p. committee intends to announce the results of that consultation on monday november thirtieth generally their announcements are about an hour and fifteen minutes after market close. So we'll keep an eye out for that for the final word on how this is going to be structured
Amazon opens online pharmacy that delivers prescriptions
"Amazon launching an online pharmacy customers will be able to buy prescription medications through a new store on its platform code amazon pharmacy. So now when you're at the doctor you can ask them to send prescriptions to amazon pharmacy. Just like any other retail pharmacy. Like you did before. It accepts quote unquote. Most insurance plans poll amazon launching. An online pharmacy was the points. What could possibly go wrong. There are two aspects of the recode article that used santos marcus that i thought were interesting. One is the fact that a lot of things that we didn't anticipate buying through amazon. Now we do so routinely. So i think that bodes well for prescription drugs being part of that but the other part that concerns me quite a bit is the just the number of knockoffs and how unregulated the amazon marketplace. Seems to be at times mock I would never bet against amazon in anything possible. Hitch in this. Is that the prescription. Drug markets skews toward older consumers. They they're the ones who who need this stuff more and that on average somewhat less comfortable with ecommerce younger people had the a lot of The pandemic learn to deal the e. Oh so that that's favor. But i'd be astonished if this flops blake yet had mark's got it exactly right. It's sort of the logical next step for amazon. Now that the pandemic has gotten older generations. Used to shopping for essentials online so sort of the next step beyond grocery in every other day household essentials and this is the age group that they're going to need if they want this to be successful so i think the time is right. Context on this story is comes about two years after amazon com susan company pill pack for seven hundred million dollars is also made other moves into the health space. Health insurance space amazon. Berkshire hathaway and j. p. morgan chase in twenty. Eighteen launched a joint health care venture code haven. We've yet to see where that's going to go. I'm was prime. Members will of course be able to save money paying for medications generic and off brands without using health insurance which is interesting. that's just chace took hit following the news. Drugstore companies like cvs and drug distributors like cardinal health. This will no doubt as well as vice out of walmart target costco's pharmacy businesses to joe this album praying and sharon tell up the wall street journal noting quote. Most americans still prescriptions at the traditional drugstore. Us prescription drug sales at pharmacies was over three hundred billion dollars in two thousand eighteen coins health research firm. A via nearly four billion prescriptions filled each year in the us in march. Mail order prescriptions. Mail order prescriptions. Were up twenty one percent from the previous giving them a six percent slice of the prescription drug market. Hi shannon lost two years. According to suntrust robinson humphrey. Wasn't there a time not long ago when there were a lot of rumors about amazon getting into not the prescription drug business but healthcare coverage insurance coverage. Am i imagining that. Or i might be the time with the two companies haven joint venture with halfway and j. p. morgan chase. So they got together to basically trying to put together some kind of umbrella coverage for all three companies. And somehow i pulled on everybody's sources provide coverage for all of their employees. I think that might be the thing. Maybe i i guess. I was on the impression that it was more comprehensive than just those companies and that they were basically going to try to roll out like you know obamacare. You know amazon care but yeah whether they were going to roll the roll that out to other companies as some kind of a model yet to be seen but i think with their own folks
Buffett's firm trims Apple stake, invests in drugmakers
"Seeing a thematic rotation out of bank stocks into farmer during the quarter. Let's start with the new positions in the pharma sector berkshire-hathaway taking new stakes. An abbvie merck and bristol. Myers squibb each of those positions worth about two billion dollars as of the end of september. Warren buffett's for also disclosing a smaller position in pfizer. Worth about one hundred and thirty six million at quarter end and maintaining nine digit home in teva and biogen on the financial side. We're seeing a continued reduction in bank names by berkshire hathaway the firm almost selling out of j. p. morgan entirely paring back at stake by ninety six percent. Hold just under one hundred million dollars worth of stock also sizeable reductions in mt and p and see as well berkshire-hathaway providing interim filings on wells fargo and b. of in august and showing a slight decrease in position since then in each of those names. Interestingly there was no change in the firm's nearly five billion dollar stake in us bancorp and speaking of multibillion dollar steaks. I know we love to talk about apple here. The way into three sold about four billion dollars worth of apple stake at today's price. Although that was a paring back of less than four
Profit jumps 82% at Buffett's firm but virus hurts business
"Warren Buffett has gone from shying away from buying stocks back to being one of the world's biggest re purchasers. Buffett's Berkshire Hathaway spent the third quarter buying back about $9 billion worth of its own stock more than it had repurchased in any full year in its history. Catherine She Glinski covers Buffet and Berkshire Hathaway for Bloomberg News. In recent months, we started to see him find other ways to put the capital to work. He's made a big bed and Japanese trading houses. He's Berkshire has taken stakes in snowflake. Um, and now we're seeing him say, Hey, I'm willing to put a lot of money into work in stock repurchases. I think that really shows that you know, he is seeing some value in Berkshire zones prospects. Berkshires. Operating profit dropped 32% heard by the insurance units first underwriting loss since the end of
Profit jumps 82% at Buffett's firm but virus hurts business
"Has gone from shying away from buying stocks back to being one of the world's biggest re purchasers. Buffett's Berkshire Hathaway spent the third quarter buying back about $9 billion worth of its own stock more than it had repurchased in any full year in its history. Catherine She Glinski covers Buffet and Berkshire Hathaway for Bloomberg News. In recent months, we started to see him find other ways to put the capital to work. He's made a big bed and Japanese trading houses. He's Berkshire has taken stakes in Snowflake on DH. Now we're seeing him say, Hey, I'm willing to put a lot of money into work in stock repurchases. I think that really shows that you know, he is seeing some value in Berkshire zones prospects. Berkshires. Operating profit dropped 32% hurt by the insurance units. First underwriting loss Since the end of 2019.
Warner Bros. apologizes after 'The Witches' faces criticism from disability community
"For the disabled criticize a new version of the witches. This has an Hathaway in it because the title character's only had three fingers on each hand. Warner Brothers said that they were deeply saddened and never meant for anyone to feel like the witches represented them. This's tricky, you know, because we don't know how it feels. So you know, it's it's. There were comments from Paralympians who had different limbs, and they were saying that it just made them They should never be represented as something evil. You know her life, And so it's like a high really, just see the point.
Warner Bros. apologizes over 'The Witches' after backlash from disability community
"Newer version of the Witches starring in Hathaway offended a lot of people of the disabled community because the witches are missing two fingers on each hand in this film, So there's this about Paralympics to a swimmer named Amy Mayer Marin, who asked Warner Brothers quote Was there much thought given as to how this representation of limb differences would affect the limb difference. Community. Another disability advocate, said disability should not be associating with evil abnormality discussed fear or monsters. They also pointed out in their original witches. There had five fingers on each hand, so they don't understand why. Okay, I'm glad you brought that up because I thought the reason they did it that way, because I thought that was in the original book. Yes, Yeah. Yeah, I thought in the original book. That's how the witches were described as not having hands. But like Klaus, almost we'll see, it says The witches did not have three fingers in the original Roald Dahl Roald Dahl story, Lerner Brothers issued a statement saying, You know they're really sad and that people are Offended by this, and I was not their purpose. And yet
Box Office: ‘Come Play’ Limps to $3.1 Million Debut
"Office slowly revving back up. His movie theaters start to reopen across the country very, very slowly, and folks visit their local drive. Ins Focus features horror thriller. Come play That's Jacob Chases directorial debut ruled Hollywood this weekend, making just over $3 million for its debut on Ly other theatrical debut it at the tail end of the top 10 spell. It's a horror flick. About a rescue turned sinister, debuted in the ninth spot with just over $210,000. That's an earnings. The witches, starring Anne Hathaway also debuted this weekend but went straight to HBO. Max, apparently 2020 releases of hocus pocus. The nightmare before Christmas and Monsters Inc are all still in the top 10 in the 6th, 7th and 8th spots respectively, and still going strong after 10 weeks in the 10th spot is thie new mutants. The number one come play did $3.1 million tough
Snowflake's stock enjoys red-hot open, with first trade more than double the IPO price
"What a day to be a snowflake Red hot open for snowflake there first trade with more than double the AIPO prices is a cloud based software company. Other backed by Berkshire Hathaway. They're backed by sales for so this one has been in the works for a while, but it was a very successful AIPO the stock up 112%. On the day so strong start for
Interview With Ta-Nehisi Coates
"Tallahassee welcome back to the podcasts what numbers this? Number seven. I think it might have been six. It's crazy. I can't even remember it used to be when we did a new one I would go back and listen to the old one. To See what we talked about before make sure no repeat myself. I just can't do it anymore. I can't listen to six. An, our audio. Preparation, so I gotta go off my My Memories. Yeah. It's been a lot. It's been a lot I WanNa say I feel very fortunate. I feel honored really that you are willing to have this conversation because I know you recently. Lost Friends Chadwick Bozeman, who is you know the world is experiencing that loss but I know you're experiencing it in a different way. Thank you for taking the time to do this even despite that. Now it's okay I mean we had committed before and. It's an experience to. Meet somebody. And you know I don't want to overstate Khushab was like a really private dude. And I think whenever you have people who are up at a certain level certain currency. That people try to deal in in you know overstating their proximity. So you know this wasn't a cow who I talk to every day or anything. But we did know each other we did it on. You know pretty much in the same circle. You know this guy met. Jesus. Nineteen Ninety seven ninety eight when. The students in the fine arts building decided to. Take, the administration building at how to prevent. Called it the absorbing of the fine arts college into the broader Liberal Arts School Indus- turn basically terrifies into a program as opposed to independent, which was crazy because. So much of what you know how a calling card is turning out autism Donny Hathaway To puffy to Tony Morrison just this long history. So it seemed crazy anyway him you another close friend of mine basically led the takeover and. are coveted for the hilltop for. You know some like at the beginning of my career I've probably been working for David. been mentioned several times. You know in other caucuses we we've done a couple of years at definitely maybe a year two years something like that. But anyway else coming in for the student newspaper and I say all that to say to watch him. On this arc. To see him you know student plays at Howard. He was always such a serious serious office. An intense and probably like the dude, I would least. Be Likely to pick to become. A major Hollywood leading man not because he lacked the talent. But he was so serious I'm. Dead dead dead serious about his art in and you know he really really didn't play and didn't have time. For Shenanigans. So just watches I mean he's one of those. Really really rare case, there's so much in the world it makes people feel like. Taking shortcuts in messing around and And Chad. Rare case that did it on principle and. Basically you know. Hard work you know. I know when people pass folks alight. They say this I never did any wrong or you know, etc. That's not what I'm saying. But I I was privileged to watch his as office. By went back and watched the onstage interview you did with him at the Apollo. And one of one of the things you said there was you sort of started off by saying because it was about Black Panther obviously, and and you said something like I didn't know that I needed this movie until I watched it you know and Kind of wonder how much of that? Connected with him being in that role or just. Yeah. No I mean. I would that was part of it. You know what I mean chat always had like this kind of you know otherworldly About himself. When he got past it's not like I was like, oh, he clearly can't this. You know what I mean is I said it was unexpected. You would be on this rise like this. I. Guess I'm more doubting. The system Hollywood. I think like an by point or somewhere around I point started writing a comic book. So it was like crazy. You know that you know he would be Erin I'll be right in the book and then I just so proud of that. So You know and even at that moment. He agreed to do conversation at the I mean you're talking about you on a billion dollar film. Again I knew. That they were. Promoting film it you know how exhausting? Because I think this was after they had gone on this global tour promote I knew how exhausting that was. After they had done grueling Toyota, he would just sit there and you have to remember what we know now was he was diagnosed about it. Yeah. Yeah. So he's been diagnosed with. You know what I mean and he sits up on stage in. But we had a pre call? His Russia with very very assistant. You know about that. You know we cheat the time limited data and I'm like, okay I'm. Trait. Up there with that, we got on the stage he has so much to say. And you can tell if you look at the interview, he just has so much to say and I think there was some point isn't Chin who has a black me the mask could come the and wants to get. Out At enchanted signs it. You know he was very conscious about what they're meant. And what what their moment met and it is. I just spe is it is hard to be sitting here talking to you about this in the past tense. Yeah. He has so many lighters just enviable qualities that relatively brief moment you know he really was king you couldn't have picked a better person to to carry it.
Why Warren Buffett is gambling on Japan’s distinctive dealmakers
"Buffett celebrated his ninetieth birthday doing what a lot of folks like to do when they wanNA treat themselves. He went shopping. Berkshire hathaway has stakes in the five leading trading companies in Japan Sumitomo. Oto Chew Mario Benny Mitsui and company and Mitsubishi Corp.. They. Import. Everything from. Energy and metals to textiles and food and. This is. Clearly a big move. In of itself. What does this investment on buffets parts? sadie. Let's start there. Well once again as always we have to remember that with Berkshire hathaway sometimes, the numbers almost feel like cheat codes because six point five billion dollars is not a huge investment for Berkshire Hathaway stake in Apple at stake. In Coca Cola are much larger than this but buffet for after years of not really looking outside of the United States has really started doing. So he's bought Israeli companies about German companies he's invested in China in Brazil and now he's investing heavily in a very interesting segment of Japan. These are extremely economically sensitive trading companies. Japanese are called Sogo Shosha. And they are they will trade in almost anything and I believe that one of the reasons that he wants to have he wants the stake in these companies is that is that because these companies are chameleons they will invest in everything they have joint ventures all over the world and so yet another way for Berkshire Hathaway to have additional boots on the ground additional is nears looking for new things that they can invest in. So really interesting timing for this it may be you know again, his suggestion I in a soft way that it's really hard to find opportunities here in the US that the Japanese market relatively inexpensive and. Like everyone else you know I'm sure a lot of everyone woke up this morning and was surprised by what Buffett has done and. By now, a lot of people are saying that makes that S-. You look at those five stocks. They're all up. You know five to ten percent. It's. A lot of times when buffet makes them move? One of the things we talk about is how buffet is to tell people like look just don't blindly follow me you shouldn't blindly follow anyone do your research and all that. But Is this something US investors should look at given what the comments you just made about the relative value of the market in. Japan. The best performing stock market in the entire world over the last decade. Stock Market Stock Index is the S. and P. Five hundred, and it's really not even close when you don't denominated in dollars. It's the number one. Japan's is actually since Ave came to power it, it has outperformed every other major stock exchange with the exception of China and the US S. and P. Five hundred it is a we tend to think of it as being more bond. I think American. Investors still have a dramatically too low exposure to two markets that are outside of the US. And Yeah there are I think that in the US almost every opportunity has at least in some ways been monetize whereas in a lot of other countries that is not the case at. Japan. Definitely one of those countries.
Berkshire Hathaway takes stakes in Japanese trading houses
"We've got some headlines coming on the Bloomberg terminal regarding the stakes that Berkshire has taken in five Japanese trading companies. They now past 5%. Now Berkshire, saying that the holdings in these companies were acquired over the past 12 months would be careful about making the connection to the of a resignation. However, Berkshire has gone on to say it may boost holdings in these companies by up to
How to Make Your City an Entrepreneurial Hotspot
"Brad Feld welcome to the show. Thanks for having me. I'm delighted to be here. Brad. You've been a leader of the early stage investor for a very long time. In fact, you found I think one of the most important startup institutions techstars. How did you get started in this whole startup community? Well I started my first company in one, thousand, nine, hundred, seven. and. With a partner grew, it was a self funded business. We sold it to a public company in one, thousand, nine, hundred, ninety, three. I started making investments as an angel investor with the money that I made from that but I told my wife Amy. That We'd move to Bowl I told her that we'd be we we leave Boston. We're living by tomorrow was thirty. She told me she wanted to move to boulder about two months before I turned thirty and I was welcome to come with her. Sounds like. Right it's kind of. Talk goes sometimes. So we went and we moved to boulder. We knew one person he moved away. So when I moved to Boulder in nineteen, ninety, five, I didn't know anyone. And I didn't really expect to do any business and I was investing on the East Coast to the West Coast flying around all the time. And what's happened over the last twenty five years is not only have I been involved in creating spectacular startup community in boulder. I really got my mind around what a startup community was. I labeled it with my first Burqa two thousand twelve called startup communities. Came up with some fundamental principles around it but importantly. Had Two assertions one every city in the world needs a startup community as part of the engine of the city for long term health and development. The. Second is that as humans we choose to live and bill are like around it rather than go somewhere because as the cliche used to go. If you want to build a Tech Company, you've got to move to Silicon Valley and maybe you in two thousand twelve and it's reinforced today by what's happening around the world is that you can build great new companies anywhere in the world and. The startup communities that have evolved everywhere in the world support preneurs building couples, and that's why I think you're you're the updated version of your book startup, Communities Building Ecosystem in your city, which comes out this month is so important because as I used to travel around when you remember when used to be able to travel by air use again, an airplane Brad and was no problem Oh. Yeah. That was. Can't remember it seems like we used to do that. Maybe even last year I exactly. I would visit these cities against age I would speak and I was an angel investor in the early two thousand people say, well, we can't do that because we're not silicon valley right? We're not boulder. We're not Austin. But as you say it's important and you believe that every city can do that. Where do you start? There's lots of different. Pieces to it. But the very important starting point is to recognize that the leaders of startup community has to be entrepreneurs. So you have to look to and have a critical mass of entrepreneurs in your city. Or committed. To taking a long-term Journey Alec to say at least twenty years. To, build a startup community in that town and it's especially powerful for entrepreneurs. You don't have to be successful you don't have to have had. A multi-billion dollar exit, you just have to be someone who cares about both building companies and building, your company. Entrepreneurs in general intercity, and that's all you need to do to be a leader or there's lots of other people who contribute to the activity in the startup community including lots of organizations city state government? Universities. Nonprofit organizations corporations. But you need this critical mass of entrepreneurial leaders and it's it's important to recognize it. Nobody appoints that it's network not hierarchy right? So you have this emergent phenomenon I and the new book that I wrote with Hathaway, the startup community way. We talk about the startup community growing developing as a complex system. It's not one with deterministic outcome. You have lots of things that are constantly interacting with each other and I'm holding and you come back to this notion of network instead of a hierarchy, there's no president of the startup community. There's no vice president membership or vice president of education. There's just a bunch of people interacting with each other who are playing leadership roles with a focus on growing and evolving and developing. Got Their start up community
Los Angeles - Apple fire triggers evacuations in Riverside County
"In Riverside County has burned more than 15,000 acres along the wind stays down. I don't think they really go much further. They should be hopefully to get a handle on it. Resident Christy Guess, Elim says the hot weather is making it hard on the firefighters. 400 homes have been evacuated north of Wilson Street east of Sunset Avenue, in west of Hathaway Street in banning and the banning bench area and those north of Cherry Valley Boulevard between Boma and Highland Springs Avenue's one home to outbuildings. Some cars and a boat have been destroyed by the fire and evacuation center is set up at Beaumont High School. The fire is now 12% contained.
Gov. Newsom asks Warren Buffett to back removal of Northern California dam
"Governor Newsome has appealed directly to investor Warren Buffett to support demolishing for hydro electric dams on a river along the Oregon California border. The goal is to save salmon populations that have dwindled to almost nothing. The governor on Wednesday wrote Buffet urging him to back the Klamath River project, which would be the largest dam removal in U. S history. Dams are owned by a Pacific Corps, an Oregon based utility owned by Buffett's Berkshire Hathaway company.
July Mailbag with Jason Moser
"The. Multiple answers I'm out Southwick and I'm joined, is always by broke camp. Personal Finance expert here at the Motley Fool. Hey, BRO, well! Hello Alison. It's the July mailbag where we answer your questions and this month it's with the help of multiple analyst Jason Moser. Should you buy a house now? What is modern portfolio theory and also here Jason's thoughts on a lot of stocks all that and more on this week's episode of Molly fully answers. Jason thanks coming back. you know I mean i. told you you invite me. I'M GONNA. Be here every single time. Thanks for having me back. I mean we appreciate it because we know you're a busy man, and so we do appreciate that you carve out time for us in our little show, don't. Always always make time for those important people in my life rule number one make time for allison and Bro I love. It sounds like a good one to me. Everybody wins. All right well, I guess we should just get into it, so the first question comes from Darren I've subscribed to the full for over a year and I'm really pleased with the service. I would like to know your thoughts about my holdings in Shop Affi- I've bought several times over the last three years, and it's now over thirty five percent of my portfolio and I. Don't know if I should continue holding or trimmed down. What would you advise a good problem to have I was gonna say that exact same thing? That's a good problem have? In a very glad, you have subscribed to our services in your really pleased. That's that's what we aim to to do. We aim to please help you make money and so yeah. This is one of those situations that we will find ourselves in from time to time as investors. A nice problem to have but something you do need to address at some point because it is going to be a little bit different for everybody. In so coming from the perspective of I, also own shop, a Fi stock in it's it's a wonderful investment. It certainly is taking up a bigger. Part of my portfolio a not at thirty five percent where you are. I think for me. It really does boil down to. That sleeping at night test in other words, you need to be able to go to sleep at night without worrying about this kind of stuff, and if you feel like shop, a Fi represents too much. Of your portfolio if you feel like you're overly allocated their, then, you may need to consider pulling it back a little, but now I mean it's. It's I think it's always important. Note you know. It's a big difference between building up a position buying a position to make this size to make this type of allocation in your portfolio. It's another thing entirely to have position grow into beat into becoming that size i. mean that that is that is in a little bit of a different dynamic there, so people all the different ways, some sometimes folks will, they will just sort of looking at it from the house money, concept or you. You just sell enough shares to recoup your initial investment, and then you let the rest of it go. Some people are perfectly fine with thirty five percent. Some people are not. They want a pair back so i. do think you need to kind of figure out what helps you sleep at night I do think that shop by a great business. I think the biggest risk in only shop, if I right now is valuation, just because it's dominating, it's space, but it's not making any money yet, and it's probably going to be a little while until they do so that valuation risk is there, but ultimately yeah I think determine. Where you feel most comfortable with it, and if you feel like you need to put a little bit of that money off the table, and he thirty five percents a lot, certainly very understandable. If they've said something you need to do if you do decide to pair it back a little bit. You've made multiple purchases, so you can identify the shares to sell to manage the tax consequence if this isn't a brokerage account and not an IRA. All right next question comes from Steven. If you are forced into unemployment, you are paying federal income taxes on unemployment payments are not contributing to social security nor to Medicare. How does this affect your future calculation of social security benefits and can one contribute to the social security fund during unemployment to mitigate any adverse effects on benefits, it is a little bit adding insult to injury, but you do owe federal income taxes on your unemployment benefits, and if your state charges has a state income tax, you probably have to pay state tax on that, although there are a handful of states that exempt unemployment benefits, so that's good news. And by the way you, you could have taxes withheld from your unemployment benefits you file. This form called form w four V. if you want, they withhold ten percent, or you can do quarterly estimated payments if you wanNA avoid that big tax bill at the end of the year, but if you're strapped for cash is probably just better to get the money now worried about your taxes later Eh. Stephen notes out. You do not pay payroll taxes. Those are the things that go into social security and Medicare so. So. It could result in a lower social security benefit, however, keep in mind that social security is based on your thirty five highest earning years, so if you enter the workforce at say twenty two and you work until you're mid to late sixties. That's more than forty years where the working so hopefully. If you miss out, if this year is not so good somewhere among those other forty, five or so years, you've had thirty five really good year so that this year won't be that big of a deal. So it probably will be okay. And then to address the last question. Unfortunately, no, you cannot make voluntary contributions to social security. There is at least one academic working paper out there. That suggested that people could buy into social security by like extra credits as opposed to contributing to your 401k, but so far that has not been passed by Congress I had an ex. Question comes from Sam. I heard to stocks discussed on another full podcast. When I read articles about them, it mentions they are thinly traded. I have two questions one I'm sure my position would still be quite small so I think I'd still be able to get in and out, but are there other things I should think about when it's a thinly traded stock and question number two. Is there a certain amount of? Daily volume you like to look for when considering a stock foreign investment. What volume do you want to see to not be? Quote thinly traded stock. Yes very good question in thinly traded stock just refers to the either the amount of shares or the dollar volume of shares that would trade on any given. Market Day and so. The. Thinly traded stock. The the problem is that you may not necessarily able to buy and or sell at the prices. You necessarily think you might be able to in other words when you look at a stock's price and you're looking through the. What what's going on throughout the day on the market, you'll see that did ask spread, which is essentially the bid. Ask spread is it's what someone's willing to pay for the stock versus what someone is asking to be paid for the stock? Because you know you have a buyer and a seller on on in every transaction they're. Normally most cases, these business business bread is very tiny, the couple of pennies maybe for most stocks because they're. They're heavily traded right there. There are plenty of dollar volume. But there are a lot of smaller companies small caps in particular in in you know a micro cap, specifically that don't necessarily meet these kinds of thresholds, and so you definitely have to be aware of that now I'll go back in time just a little bit, too. When we were running the service here at the fool called million dollar portfolios Roman Romani portfolio that we help manage members, and it was never really a problem, but we did have a condition in there. We were always looking for at least ten million dollars in average. Trading volume total daily volume now understand I'm not saying the number of shares saying the amount of money so basically shares times price, but we're always looking for at least ten million dollars. That wasn't set in stone it. It was an idea for us. It wasn't ever really a problem because we had a very diversified portfolio with a number of different types of companies, but when you're looking for smaller companies, you would've just keep that in mind that did ask. Spread is is something that just because it says the stock is twenty dollars. That doesn't necessarily mean you'll pay twenty dollars if there is a a big spread there between the bid, and the ask in so I think whenever you're considering stocks that have any lighter trading volume or thinly traded stock. Just be sure to use limit orders. Limit Orders of let us stipulate the price that you are willing to pay for or that you're willing to. To accept a if you're selling a limit, order is just a really good way to protect yourself from any unwanted surprise thinly traded stocks. You might not always necessarily get them when you want them, so you might have to lead that limited are in there for a little while, but but a limit order is a great way to protect you from any unwanted surprises. Next question comes from Randall. I'm in my late thirties now, but earlier in my life. I was very very bad with my money. Collection Calls Welfare and bankruptcy or not strangers to me. I've been at the bottom then I met the love of my life, and she convinced me to turn things around ten, and a half years later and I have done a complete one eighty, I took control of our finances rebuilt my credit and started investing and listening to all you find folks all. I opened it investing account with the goal of saving and building enough a down payment on a home. I'm happy to say we've now reached that goal. I recently sold at a profit because I didn't want that. Money tied up in the market. If we are close to needing it for a house, but now that we're here, I'm not sure what to do. We currently rent a basement apartment and our neighbors general living situation are less than ideal to put it mildly. So, we're champing at the bit to jump into the housing market that being said the experts have been calling for a drop in the housing market for a while, and that was before the pandemic hit now I'm worried that if we buy right away a year or two or three from now, interest rates will spike, and we could be put in a difficult situation. I live near Toronto. Canada or the housing market is already highly inflated in relation to the rest of the country should I be worried? While Randall first of all congrats on turning your financial life around love hearing success stories like that so good job on that. So I'll start with my standard answer with the rent versus buy decision, and that is just pull up spreadsheet and compare the all in cost of renting, including what you could earn on the money that use for down payment versus the all in cost of buying including the opportunity cost of putting down payment as opposed to having invested as well as insurance and taxes and maintenance, and all that stuff and project, where you might be in five to ten years based on various scenarios on what happens to stocks, if you. Rent an invest the down payment versus what happens to? What you'd look like depending on where home prices go. Generally speaking. If mortgage rates go up, that could way down on real estate prices we did see mortgage rates. Go Up for a bit a few years ago, but the housing market did find, but you could certainly envision a scenario where rates went much much higher, making houses, much less affordable and prices would have to adjust. But I don't expect that to happen anytime soon. I think we're. GonNa have low rates for awhile, but beyond that I don't know I've given up trying to predict where interest rates are going or even paying attention to people who try to predict where interest rates are going, so who knows? That said since you live in Canada. I thought I'd check. In where rates are these days and I and I got a brief reminder that things are actually different in Canada so I did a little bit of research. And then realize I had reach out to someone who knows, I reached out to Canadian Motley fool analysts Jim Gillies, and he had some thoughts so first of all just for you non-canadians out there. It is really different so in America. We get this thirty year mortgage than we have the same payment for thirty years. It's fixed. They don't have that in Canada. What's the most common is a twenty five year? But only the first few years or fixed. And then adjusts so in that context you can understand why Randall is worried about interest rates going up because over the next depending on which alone he gets the most popular is a five year fixed, and then you basically have to go get a new loan probably. So that put that in context, a little more, but also Toronto, really is crazy expensive. Vs from the end of last year that put it as the most overvalued real estate market in the world behind Munich. As Jim pointed out in our call here in the US we had our housing peak in two, thousand, six, two, thousand seven, and then we had what he called a reset, which is basically prices came down significantly candidate and have that slight downturn at home prices, but then they just kept on going up, so it really is different there, so when Jim explain all this to me, the difference in mortgages and the difference in home prices. Frankly he was inclined to say to this guy. You Might WanNa rent for while more and see what happens, but he also had the good advice of okay. What if you buy in prices? Come Down Fifteen percent twenty percent. What if they come down to a point where he upside down? You owe more than the home is worth. Are you okay with that? If. You're okay with that. Maybe it's okay to do that. But it certainly sounds like dicey situation than if someone were telling me like I'm thinking of do this in Dubuque Iowa or something like that. couple of other differences. In case you're curious about Canada in the US. Your mortgage is portable in Canada south. You Buy A. Get the five year mortgage, but then move get to take the mortgage with you for the next house and interest is not tax deductible. US Look at you, Robert, broke? Camp Can Canadian real estate experts there you go. Next! Question comes from Chris. I was on twitter the other day and saw that one of your contributors Brian Feroldi tweeted that he doesn't believe in a long list of technical trading terms and then modern portfolio theory. Can you help me understand what not believing an MP? T with mean this? He believed that diversification doesn't reduce risk. Also every financial adviser I've ever talked to his preached empty, so I would love to hear the counterargument. Jason you're not Brian for all the. Question I am not Brian for all the do get the talk of Brian Pretty good bit though. I I must admit I. Don't know what he said here in regard to modern portfolio theory and all of these technical trading arms. But I think I can take a guess. Generally speaking I agree with them, and I think you could sit there and look up the portfolio theory in you know read about it as much as you want. Just go to google modern portfolio theory, and you can dig right in there, but in a nutshell ultimately, what modern portfolio theory is the intention behind it? It's meant to reduce risk while maximizing returns. It assumes that investors don't like risk. They prefer less risky portfolios to riskier ones in order to achieve a certain level of return so right there. I kind of kind of lost me right there because I don't believe that every ever investors risk averse I think some investors have a very. Healthy, appetite for risk, and frankly I would say I got a pretty high tolerance for risk when it comes to investing, made it just because of what I do for a living but I. You know to me I like having that trade off least unhappy. Happy to take some risks there. If I feel like that upside, it's going to be potentially worth. So with modern portfolio theory, it introduces a lot of fancy math in the form of variances and correlations in order to come up with this. Quantifiable, investing strategy that ultimately helps reduce risk while allowing the investor to achieve. Certain returns in. Maybe it works for some not I'm not dismissing it personally I. Don't use it, I don't personally subscribe to it I. Don't need it. I think honestly for us. In a really believe it's extends to to most people in our full universe is that is individual investors I think a more meaningful way to reduce risk. is to just extend your timeline like invest longer. So like Tom Gardner said a number of years back when we were. Working on Motley, fool one basically take your take the time line that you think you want to own any individual stocks you buy shares of starbucks and I plan on owning it for you know five years. Okay, we'll just double it. Cloning it for ten in all of a sudden right there. You've given yourself more time. Time is one of the big advantages we have is individual investors. Money managers don't have that advantage, Wall Street done generally handed abandoned, either, but if you can be patient and just invest in good businesses. That risk really starts to come down over time. There are plenty of studies out there. That show that risk comes down the longer you hold onto those stocks, which into me, just renders modern portfolio, theory, more or less not useful mean on things, not useful for everybody, but it's not useful for me and based on Chris. Question It sounds like a agree with what Brian was saying there. We think I'll add to. That is I agree that risk is really not that much of a consideration if you are saving for retirement. But once you are in retirement man, and just say like you know what the market's not I'm going to extend my time highs in ten years. Because you need to spend money in that situation, I think diversification is important. It's important to have assets that don't always move the same direction at the same time. For some fools. That's just as simple as keeping any money need the next five years in cash, so you're right out any ups and downs, and that can be fine. But I. do think it makes sense to have. A mix of investment so that right now, technology stocks are doing very well, and we hope that continues to do well, but we remember was that happened in two thousand from two thousand to two, and there were down for quite a while anyone who retired in one, thousand, nine, hundred nine, or so it was very happy to have some small caps value maybe a. A little international, some reits to ride out the storm Yeah I think we talk about that often like recognizing where you are as an investor in life, are you in the grow your wealth stage, or are you in the protector stage, because they are two very different strategies, and we're all hopefully going to be in both of them at one point or another right? I personally and still on the grow your wealth stage I. Think we all probably are, but you will at some point get to where you need to focus on protecting the wealth that you've made so that you can then have that money to spend, and that definitely will dictate your investment strategy things that you're invested in and whatnot. Generally speaking I do like the idea for people who are just risk averse and have this notion that investing is just too risky. I mean the fact of the matter is not investing as far away greater risk like not investing. You will never grow your money if you don't the best, so if if if risk is a problem, I think generally speaking. Along the lines of diversification idea that that bros. talking about him, he just invest in invest in SNP index fund is something that just follows the progress and p. you know you're going to be participating in and if you look at that over the over the stretch of time, their five ten twenty thirty years, I mean that trend does go one way. It, but clearly the older you get, the more you need to start focusing on protecting your wealth, and that will change the way you view things. Right next question comes from Alex from Alexandria if I buy Muny bonds from another state in my IRA. Is it still taxable and Alexander with who we have a bond on and we do have a bunch. I know Alex up super excited about having a bunch on in Alexandria to I can't believe I haven't been there. It's like two miles from my house, but we still haven't been oh i. know because there's a global pandemic going on and we. saw. Alyx if we buy me bonds from another state in my IRA is still taxable. Bro, help him out or her or so Muny Barnes. People Invest Immunity bonds because they're free of federal taxes and in many cases. If you're buying bonds issued by the place you live, they might be free of state and local taxes, so that can be doubly triply tax free. That's why people buy 'em. There are some times, however that if you own immune, abound outside of an IRA. Pay Taxes and this surprises some people. There's something called the minimum tax. If you buy immunity bond at a discount, and then it matures at par. If you buy a distress, Muny bond for like you put an eight thousand dollars, and you sell it later for ten thousand dollars as a capital gain. You'll be taxed on that. So, there are some times when you would pay taxes on media. Now, Alex is asking what if it's an IRA? Do I have to worry about paying tax interest. If it comes from another state and the answer is no, you won't have to worry about that. The only thing I would say is. Generally speaking immune bond already has built in tax advantages, so you wouldn't keep it in an IRA, unless there's the example of the stuff I was saying previously like for. It's one of those exceptions when him UNIBOND would result in taxes than you might WanNa keep it an IRA, but generally speaking. If you're going to buy Muny Bond, keep it out of an IRA. Next question comes from Boone. I just did my first. Roth conversion and looked at that old account for the first time in. There was the expected dividend producing fund I remembered, but there was a stock chesapeake energy that I had completely forgotten about since I purchased the stock in two thousand, six fifteen. It's down way down like eight point five percent off the purchase price. What should I do with it now? It's in a tax deferred accounts so I. Don't think the loss is realized until I. Start to pull money out of the account and that might not. Not Be for fifteen years current value of all my shares will be about one percent of the value of the account after the conversion. Do I sell in the very little value? I had left and depend on E. Trade to keep up with lost for me or should I hold on based on the slim chance. The stock will be worth more in the next ten years. Oil Stocks do act unusually on occasion, only oil stocks. Stock everything else makes that usually. Chesapeake has been really. Interesting Story to follow and frankly. I don't I. Don't know that I would look at it today. As a business that I'd WANNA own so typically if I. You know I think it was yet idea. Didn't sound like a position are actively building united investment didn't work out. I mean that that happens to all of us. We don't get them all right. We have a philosophy here at the full. A lot of do we like to? Water flowers and pull the weeds, and that's just a nice way of saying. Add to our winners in to get rid of losers in. This I think is more than likely slated to continue being a loser I mean. Chesapeake has lost a lot of value. In it does sound like based on when you purchased this, these is absolutely busted I mean. There there are all sorts of reasons to sell one of them is if you thesis busted and the reason why you invest in the company is is no longer the case, and I would he probably is the case with Chesapeake so to me like you know, you could sit there and let it go, but but what's the goal trying to get back to even, or are you trying to get back a couple of bucks for me a lot of times? I'll I'll take a little opportunity here and there to just go ahead and pull those weeds sell it. Be Done with it. In even though it's just unique out a little bit value there, you can still take that money and do something more productive with it. So. Yeah T to me. I can't tell you to buy or sell obviously, but I can certainly understand. Selling in this case, but I you know. As as oil and natural gas energy can can turn around. This is going to be one that has a lot of headwinds in in. You might be waiting a very long time to to get any of this money back. I point out here that I it seems that maybe boone has a slight misunderstanding of how taxes in aries work because he talked about realizing the loss when he takes the money out and trade keeping track of the loss for him, it sounds to me that he thinks that he can write the loss off whence he takes the money out. That may not be the case, but just to be clear. One of the great benefits of an IRA is you don't pay taxes on the gains, interest and dividends from year to year. But. One of the drawbacks is. You can't take a capital loss on that as well so there's really no no way to benefit on your tax return from this loss. Next question comes from Benjamin. You recommend seeing a fee. Only financial adviser for check in every so often I know there is the Garrett planning network and others to help find an advisor. But what questions do you ask? And what answers do you listen for when trying to find one that is worth his or her one hundred fifty to two hundred fifty per hour. So I would say start first with asking yourself some questions. What are you looking for? You could go for the whole launch. Lada where someone is managing your money analyzing retirement plan helping new save and a five twenty nine. Maybe even doing your taxes with some financial planners do help with the state planning, or are you looking for something more targeted? You just want advice about am I saving enough for retirement, or are you close to retirement? You're like I just WanNa make sure that I'm doing right when terms like choosing my Medicare plan and claiming social security at the right time, so first of all just be very clear of what you're looking for. Then if it involves investments in any way, you WanNa, make sure that you find someone who is at least in the general same area philosophically and I say this, because many financial planners are hardcore index. And if you come to them as a motley fool, listener member with a lot of individual stocks. They may say okay. I'll give you some general asset allocation guidance, or they'll say I don't care if you like to pick. Stocks are not my advises, sell the stocks and go to index funds, so you want to make sure that if you're gonNA, ask for any sort of investment. Advice that you wanna find someone who's someone somewhat at least aligned for what you're looking for. Once, you've got that then. Just asked some of the typical stuff. You might expect so credentials certified financial planner. Are they a CPA either their personal financial specialist. How long they've been in the business. There are lots of people who. have not been in the business very long. Even though they're not young people, a lot of people choose financial planning as a second career, which I think is great, but just because someone may be look like they're in their forties or fifties. Sixties doesn't mean they've been in the business that long, and you WANNA. See if they've worked with someone like you right so if you have. Maybe. You have a large amount of wealth large income huge portfolio. You WanNa make sure that they have experienced with dealing with those issues, but on the flip side to if if you have, are you know middle income, decent size portfolio, but nothing too complicated. You don't WanNa. Go to someone who's used to dealing with someone who's wealthier partially because those people charge a lot more. You want to find someone who's kind of a little more lined up with what you're doing. Then make appointments with three folks. All of them will do get do free. Get acquainted means, and you're just looking for someone who you feel comfortable with. Since, you mentioned Garrett Big Fan of the Gary Planning Network and other is is not for the National Association of Personal Financial Advisers. But Garrett on their website has a how to choose an adviser section. Just Google attitude visor Garrett Planet Network has a great chapter from a dummies book that they wrote about how to choose adviser, and they have a good questionnaire that you can print out in US asking lots of good questions of financial planner. It's tough. Choosing a financial planner like my mom just went through that Bro! Is You know and she didn't really have a lot of options in Boise Idaho. Maybe two and one of them, she I never called her back, and never got back her, and the other one was just so busy just so busy, and just she just never. It's it can be rough. Finding a financial planner can be I. Think what we'll see is one of the consequences of this. Of the coronavirus pandemic. Just, like we are all used to working from home, many financial advisors and financial planners an now working from home. So in what they're doing is they're becoming licensed in more states. So, if you are more comfortable, working with someone over zoom remotely I think you don't have to stick with someone in your area. You can go beyond your locations, but you know some people don't feel comfortable that if if they're going to have someone managing their life savings, they want to be able to meet them in person. That's just a personal choice. All right next question comes from twitter. Is that right from sully what I hear? Okay? I just listened to the episode mentioning Your Weakness Two. Shopping carts and Tj, Maxx that me or you Jason. Accused me. Thoughts on the stock. If I had a war on Amazon, basket would be Costco TJ maxx Home Depot tractor supply. What would be your basket against online retail? That's funny. Well okay, listen I wouldn't have basket against online retail, because online retails where it's at. The whole idea. The whole idea behind the basket approaches to find a long term trend that you feel like the world is headed toward and so the war on cash basket, for example that was always one about people using cash war, traffic payments now with that said I get the spirit of the question some going to answer it because I do like some of these ideas. And I I would definitely include Costco in their in Home Depot's well. Home Depot gets a lot of my money. Doesn't, but they have a very loyal fan base of customers that just are happy to renew year in year out. So I love those membership models there, so costco and a Home Depot for sure you know I'm going to give a little shout at my wife Robin I. Know that she would approve of my adding target to the mixer. She hasn't been raving about targets APP and ordering on the APP the able to go to the store. Just pick it up right there I've talked with Ron Gross on more than one occasion about target and how this really has. Become a twenty first century resale right they're doing. They're doing everything online and in physical stores. What they call Alma Channel and then my fourth and I'm GONNA. Take this. You probably aren't expecting this when Alison. I'm GonNa Shock and all you. I'm ready. I'm ready Alta. We're going. Make up my I know my daughter's love. It ugly ugly Mug like this. What do I know about makeup? Tell you what. Get! A House with two daughters and a wife. That's what I know about make. There's a lot of it in an Ulta is a really really good business. They actually have a very nice diversified revenue stream. They've got the salon a`dynamic of the business which encourages people to go there they do have an online business. They have an augmented reality function there at where you can actually like. Try things on makeup to see how it looks. Mary Dillon just a phenomenal other adults of that's my fourth, their Ulta but they I appreciate the spirit of the question I like the idea I'm not saying this is the basket. I'm not tracking this basket in a not a not backing this basket, but in the spirit of the question if I had to develop. A basket, such as this one I think it'd go with those four. Yeah, I mean I guess you just have to think about what retail out there is something that you would still physically go to. Because the actual retail experience is being in the space is the experience and what you're there for? And I know I mean before Corona virus we I would go to target and just just couldn't believe how much money I had spent from walking through a few of the aisles. TJ Max is just a phenomenal business I mean what they've done through the years. Is really capitalized on the nature of the business, the advantage they have in that treasure hunt kind of nature like you go to TJ Max, maybe not necessarily looking for something, and then you end up finding a lot of things, and it can be a little bit lumping at times, but but generally speaking like management's a very good job of running that business, and they know how to exploit the advantage of experience. I think they're online game. Though I think they could probably get something going with online, and they just have not have not yet and so I. Haven't since Corona Virus for example. I haven't spent a single dollar there, but I continue to still shop at. Home Depot I. Think Yeah! We still shopping at home depot because we're doing. You know you gotta buy lumber somewhere. And I know my grandparents out in my my inlaws out in rural Virginia. They love tractor supply store, but that's not. That's not in where we live, but. Still New deck at the house there allison. I mean you, can you see? A big exposed beam behind me and some drywall work that needs to happen. Have lots of drywall work that needs to happen now though. Yeah Anyway get to that. All right next question comes from Matthew. I got married to my amazing wife nine days ago in a small Kobe nineteen wedding in our front yard after we postponed it from its original date in April all. It was definitely different, but still very special. My question is in relation to this wonderful event. My salary has been at a level that has allowed me to fund a roth. Ira I love the optionality of it, but after marrying my bad ass, wife are combined. Salaries are now over the limit that would allow me to fund the Roth. IRA does this affect occur immediately? Do I need to now open up a traditional. IRA and begin funding it or do I have until the end of the year. Matthew wants a Roth Bachelor party one last. Well Matthew I have bad news. When it comes to most things in taxes, your status and your age and things like that depends on where you are on the last day of the year, said if you're married on the last day of the year, you were considered married for the whole year. So that means if you contributed started contributing to a Roth IRA for twenty twenty. You need to call up your brokerage. Firm and re characterize that as a traditional. Now don't have any other traditional IRA, as it's very easy to do the back door, Ross which we've talked about before you can just google it or even when you call the brokerage, just say I want to do the backdoor. Roth and they'll tell you what to do. If, you have other traditional IRA as you can still do. It just becomes more complicated and you'll probably pay more taxes. So you, but you may not be totally out of luck and I should say that's only if you have a traditional IRA doesn't matter if your wife has traditional areas. One exception by the way of of what I just said. In terms of tax status and last day of the year is distributions from retirement accounts before it's age fifty nine and a half, you actually have to be age fifty nine and a half to avoid that ten percent early distribution penalty, unless some of the many exceptions that are out there exist. Right next question comes from Warren Warren Buffett. Maybe I don't know that's why I was thinking. He's asking about coq, so maybe maybe. Once James Opinion on coke. By? Or hold? Wants to now. I'd give buffet night give. Kiesel Warren of the same advice and I would say. For some I'm not buying it. Not Buying it I'm not holding it if I own it. I guess that means sell it. Even Atlanta Georgia person like you i. feel like it's almost sacrilege. I am pretty close to probably not being ever even invited back. But the facts are the facts. Okay, I mean you do have to look at the stock itself has been ain't bad stockton for the last five years. I mean I do understand why when you look at it what they do, I mean they have. Four hundred master brands, and less than fifty percent of them are the big global brands that are actually responsible for almost all of their revenue when I say almost only ninety eight percent, so it's a business. It's very reliant on on. You know a small portfolio of really successful grants. The problem is now. We've always talked about cocoa beans such a great distribution story and that's true. They've got a distribution network. It's just phenomenal, but the problem is now. They're what they're distributing is is being seen as not so good for you in so you're seeing them. Have it into to essentially pivot away from what you know brought them all of the success for all these years. Years in soda and that that's not going to change I. Mean you're always GonNa have people to drink soda? People are not to drinking as much soda going forward in the numbers of just kind of the kind of shown that through that through the quarters in the years of Coca, Cola and Pepsi Pepsi. Has the salty snacks division, which I've always been very. Impressed by I, mean I love a good Cheeto, and so I mean anytime you can throw a bag of those cheetos in my Patriot Amok GonNa, turn it their coq. Interrupting, but I think this is also very important point. You tried the Jalapeno White Cheddar crunchy cheetos. The White Shit or so. I've tried to Jalapeno ones but I've not seen the white Cheddar White Cheddar Jalapeno crunchy cheetos. Don't get the puffy. The poofy ones are not as good, but the crunchy white Cheddar Jalapeno Cheetahs. them by them. They're amazing. I have to back. Pain you. I'll get those next time. I promise I, mean Eh. One. crunchy wants the puffy ones, so that people won't you're not? You're not seeing poopie. Who using poofy Joe Copy? We'll be Coca doesn't have that dynamic of their business. They don't have that dynamic to their business, and they've suffered from that Pepsi's Pepsi's outperform coca-cola over the last several years. It's not safe. Pepsi or coke get it back. I'm sure they probably can. But what I am saying is I think there are a lot of better ideas out there, and so I wouldn't be putting new money into Coca Cola and frankly if I did own it. I probably would look at selling it and you know if you've got a beverage company, maybe own starbucks. It seems like the science coming out in support of coffee, right? It's coming and telling you that these sodas. They're gonNA. Make you fat. Coffee, it could extend your life. It could help you live longer. SMART Mexican looking this a starbucks as well is. That sounds like study from the copy roasters of America. Do! Something that Chris Hill sent me the other day. that. We sleep at night. I'm glad I've been drinking coffee as long as I have God knows what I would look like otherwise. You're a good looking man. Rick. good-looking next question comes from. A. I'm trying to save money for my kid's College. Fund while the five nine is a great option. I'm limited to investing in mutual funds, which means at best I'm going to get what the market gets assuming I do some sort of low cost index fund and I be a capital F. Fool investor have been doing much better than the market in the last three years of being a member of. Of Stock Advisor Enroll breakers, even during this pandemic mess by listening to every full podcast and following David and Tom's and yours and every one else's in the full universe. My portfolio of about one hundred stocks is up here today. Thirty percent to the market's down five percent as of day as of today weighed down by three sluggish five to nine plants that are also down five percent each. I feel like throwing away money by using the five to nine, and not being allowed to select my own great companies in which to invest. What's more, my understanding is that the five to nine does not count as an asset for the kid when applying for student aid, but the coverdale does. So I come to you with a simple question. Can I have my cake and eat it, too? What if I wanted to use the coverdell to buy individual stocks? Until the child is nearing college? At which point I then converted to a five to nine. This allows me to get better returns and avoid it being an asset for financial aid and get the favorable tax benefit. So, chose this question, because first of all Dune does a good job explaining the benefits of the coverdell over the five twenty nine, you can buy individual stocks. You can buy and sell them all day long. We recommend that, but you can. Whereas with the five twenty nine, you can only make two changes to the investments a year, and it's all mutual funds. So. That's you did a good job of explaining that. I will point out with the coverdell. It's gotta low contribution limit of only two thousand dollars a year, so for some people save more for college, but they can max out to cover it out, but then put the rest in a five twenty nine. One thing that doomed does not have quite right. Is The financial aid treatment the financial aid treatment? Coverdale's and five twenty nine is identical. They're treated as assets of the parent, not the kid that is favourable from a financial aid perspective. It's not negligible doesn't mean it doesn't have any effect on financial aid, but it's better than an asset that is owned. By the kid. He can. Transfer money from the Coverdell to the five twenty nine. If for some reason, he decides to do that, but you can't transfer it. The other way around so were convinced to try out the covered. You have money in a five twenty nine. You can't move it from the five twenty nine. To the coverdale. What other interesting thing that he pointed out is that he is doing very well with his investments, and he owns about one hundred stocks. We get this question a lot. Either on the show, or on the full live that we run every day for members of full services, and that is how many stocks should I own, and if I owned too many are not just owning index fund watering down my returns, but here's an example if someone owns a one hundred stocks is still crushing the market. Idol last question comes from Cameron thoughts on the valuation of Stone Co in light of the corona virus for a fragile country like Brazil. This could be the tipping point after so many other headwinds. But how does that affect stone? coz Business Jason I. Don't even know what Stone Co is. What is still business? Yes, don't Coz a payments company that's focused on Latin American markets in Brazil and particular in so I guess it could be. Draw you can draw a parallel to to a with square through pay pal at, but generally speaking I mean it's payments. Company focused on Latin America. Primarily Brazil. Is the big money making market kind of like Marco Libra, they're. In I, I, it's a it's. A NEAT opportunity, gained a lot of headline recently, when and it was, it was seen that Berkshire hathaway. Warren Buffett's company Berkshire hathaway taken a five percent position in the company, which is pretty considerable i. Think in the near term. You have to acknowledge the fact that. They're gonNA, be some real headwinds in in Brazil particularly because of the pandemic I mean. The flip side of that is role in same boat kind of in that regard. The entire world is dealing with it, so it's not specifically you know it's. It's not particular to one economy or one country some. To get hit harder than others I, do feel like Brazil. Be at a place where they can recover from this given You know some of the other businesses in the area. I mean that that that I think is. Who knows ultimately how? That's GONNA shake, but generally speaking. I think the move away from cash towards cashless. Transactions in and financial software that's not stopping if anything, this hastens that which which is what I think, Cameron's talking about there and for a company like stone. Co, neither are other companies in the space pags bureau in roquetas libra to but you know moving money around is a big big market opportunity, and there's nothing that says they won't be able to expand well beyond the Latin American markets, too, so I I'd say cautiously optimistic I mean I
Fed buys more corporate bonds
"The Federal Reserve said Friday that it purchased $1.3 billion in corporate bonds in late June as part of its effort to keep U. S interest rates low and ensure large companies Khun borrowed by selling bonds. We fed bought bonds issued by several 100 large companies, including AT and T, Pepsico and Berkshire Hathaway, controlled by billionaire Warren Buffett. Combined with purchases from earlier in the month, the Fed has bought nearly 1.8 billion in corporate debt. If bond interest spiked, it would make it harder for companies to borrow by selling debt. Chuck's Iverson, ABC
Fed Discloses More Corporate Bond and ETF Purchases
"It's purchased 1.3 billion in corporate bonds last month is part of its effort to keep U. S interest rates low and ensure large companies continue to borrow the Fed purchasing bonds issued by several big companies, including a tea and tea perhaps ago in Berkshire Hathaway. Goodbye with purchases from earlier in the month of feathers now bought nearly 1.8 billion in corporate debt. Stocks
"hathaway" Discussed on Invested: The Rule #1 Podcast
"Huge and that totally and I think that they are on and and the reason they're doing that is because the federal government thinks they're critical industry. Nobody thinks your critical industry. Hate to tell ya but nobody's coming to your rescue except you. You better start rescuing yourself ahead of when you need it. The worst thing about banks. They will only lend you money when you donate it. So if you don't need right now go get a pile of it if you need it right now. I'm sorry but you probably not gonna be able to get it too late. So we're the wise. Follow the the examples of the best CEOS in America who are in trouble right now and they are all loading their balance sheet with debt as fast as they can get it as much as they can get it so he should do the same thing I think I mean. That's just an opinion. I'm just saying it's just an opinion. Just an applied do not see why that is any less ethical than what Boeing's doing so let's get back to me buffet and Berkshire Hathaway. I won that one. Tonight you're taught me. What did you think about Greg? Evil sitting next above it and making comments well. I think that's an obvious indication of WHO's GonNa take over of Warren. Get sick this year dies. I think absolutely he's pointing to Greg. Able I don't I don't and Greg is younger than than a Jane. And that's probably why as she'd isn't up there Vowed genius in buffets been raving about him for years. But you gotta you gotTa get a new guy in there. You Probably WanNa get a guy who's not seventy you know it's like it's like Charlie Munger. Charlie Mongers Board Meeting Daily Journal. Like we've just brought in a new director who's seventy five which dropped the average age of the board by ten years or something? That was funny. It was really funny so I think that's a big part of you've got to to really superstars there and I think he picked the one. I mean it's not a final pick but I think that's an indication who's going to be running Berkshire obviously. It's a very strong indication of confidence. Yeah A to that question of who runs yeah. I don't know but I found that he was he was all right like I didn't really feel like he added that much he didn't. He definitely lacks the sort of interesting talk that the buffet gives and the Banter in the stories. And the you know ways of explaining things that make profits so interesting and and obviously hardly anybody is like buffet. He's one of a kind but it was very much like if this is the future. I don't know how much how much longer people are. GonNa get excited about it. But who knows it's an interesting question about Berkshire itself I mean. Buffet was pretty clear that At in previous to the meeting that prior to the meeting that he wouldn't think berkshires massively undervalued. Right now He basically that you were to sell off Berkshire in pieces and pay the taxes And the liabilities. Pay All that off By the time you cleared all the tax bill Which would be enormous. You would have a break even more or less and that might have been a little sobering for Berkshire investors because the stock went down ten percent. This already well not just that he also answering the question about why they didn't buy stock back in March. It wasn't just that they want to conserve money. Although I think personally I think that's the main reason but and why would you spend money buying Berkshire stock unless he had nothing else to do? But also because he said the intrinsic value of Berkshire went down last month burst of all he lost was it. Six billion on the airline investment and then Many of their businesses have been really adversely affected by the Down he said Berkshires intrinsic value has changed and so he didn't really think that actually the price change showed a massive discount the way it would have seemed and I thought that was really interesting so I don't. I wasn't real surprised by that the fact that he didn't buy a lot of Berkshire buying a little. I mean a little few billion dollars worth of March or April now but over the last year. Oh yeah when they bought exactly but they didn't buy a lot and so to me. It's been he's been saying right along more. I think what I'm hearing from buffet as more. We're going to see a time when we can by Berkshire I really cheap. Yeah hit it. I think it's that it's that plus we would rather buy some massive awesome business at eight seventy five percent discount because we're the only ones who can cause we're the only ones with a hundred billion dollars to spare and still leave forty billion on the balance sheet to cover all of our expenses and random obligations that come up so. I think that's what he's hoping for and he doesn't WanNa Penny Ante little purchases here and they're not these being for that he doesn't want the US to crash. But I think he he sees it as a possibility and I think we should too. I do too. I think I mean. I think we're GONNA wrap up here but my prescription for me is going to be sit tight be patient. Charlie said we make money when we wait. That's what I'm planning on doing. We've certainly picked up a couple of companies without. We're we're pretty nicely priced in. And they've gone down from where we bought them and we WANNA buy more But we're sitting in a lot in cash and I think that that's I'm very very comfortable without right. Now that this market will look a lot worse. I think there's a very good chance. This market will look a lot worse in a year that it looks right now and we'll see we'll see if that's true. Yeah we'll see. He didn't answer becky too quick. Didn't ask my question which I was bummed about my question. Was My question was considering that we're in a recession. So many small and medium businesses are going bankrupt and not gonNA come back. People are losing their jobs. Unemployment is at a massive high. Do you think that Wall Street is completely divorced from the plate of Main Street? Ooh That's very sophisticated question. What do you think the answer is? I think it is divorced and I think we're going to look back and go these. What's the vote was that occupy Wall Street thing? We're going to look back and go these like fat cat. Rich people were sending stocks way up with no justification except for a few of them are doing well legitimately have good earnings but the rest of them don't and yet for some reason. Wall Street has suddenly gone. Long-term mysteriously and companies with no earnings going but in a year. They'll be fine doesn't me to any sense at the same time. People are losing their jobs and it's not just jobs it's small and medium businesses are many of them are not gonna come back and they weren't able to get the loans from the government because the US government screwed up the process and that's a whole other story but it's really discouraging and I just don't see these these two. I don't know it's like these two opposing forces but they're not really opposing the kind of Har- and they just don't make sense together. I really wanted to hear from him about that. Like this market is is almost back at its high like why considering all the data why nobody asked him that I can tell you why why and I think I'm very likely to be right. And that is that the market meaning. The vast majority of our money in the market is run by professional fund managers who have learned over the last decade that you should never fight the Fed. It's a it's a fact of life and it's a. It's like a headline. Don't fight the Fed and anybody that's fought the Fed meeting if the Fed reserve raising interest rates. You think the market is gonNA go up and you buy stocks and it goes down like a brick because you fought. The Fed raise interest rates market. Goes DOWN THEY DROP? Interest rates market. Goes up these guys have learned that over and over and over and over again and they're fundamentally traders even though the so called long-term investors dot hold socks more than about three months and they're judged on their three-month performer sector judged on a one month performance. A years forever. You know years like you know light years away so you. You may not have a job in a year. You'd better perform now. And so they can't sit there and wait while their peer group jumps in as the Federal Reserve cuts rates to zero and promises with the federal government to put in six trillion dollars. They can't wait if they wait. They're gonNA look so stupid in three weeks which they did anybody. That waited look like an idiot. The market jumped back boom. And so guess what they. They've made it more volatile there jumping in just out of pure momentum guessing nothing to do with mainstream nothing to do with what's going to happen a year absolutely blind to it out of necessity to protect their jobs. That's why it went Jack and backup all right there right again. Do Not Take Silence. Ask Agreement. Well proportioned give my love the Nuno and stay healthy and you all stay healthy out there to you guys and we'll be talking to you next week. Thanks guys next week. We're going to have an interview With Dan Heath great book called upstream. So check that out. And then we'll be back talking about companies because we've promised you guys good companies that we like and that's what's coming could good depression companies to get onto that list to go. Thanks everybody hi guys. Thanks for listening to invested if you enjoyed this episode and you want more information including show notes and more episodes visit us at invested. Podcasts DOT COM. There's a special offer waiting for podcast listeners to attend my three day investing workshop absolutely free so just head to invested PODCAST DOT COM. Everything discussed on his podcast. It's either my opinion or Danielle's person and is not to be taken his investing advice. Because I am not your investment advisor nor have I considered your personal situation as your fight. Do -ciary this. Podcast is for your entertainment and educational only and I hope you enjoy it..
"hathaway" Discussed on Venture Stories
"Made me look very sophisticated and sizeable And in reality it was just me and my underwear flipping my parents basement. I was good at talking and done so much business. Throughout my teen years that I was actually able to convince people to pay me a reasonable amount and give me a chance and so very quickly. In the first couple of months ago I started making twenty thirty forty thousand dollars a month and I'm going will. This is amazing. You know I can do whatever I want. I get to work on all these amazing problems with really interesting startups And you know I'm getting paid. Us dollars living in Canada. And so I had pretty high profit margins and I just kept doing that. I never moved to Silicon Valley. I kept getting more and more clients just through word of MOUTH BECAUSE AGAIN. No one was doing what we were doing. And you know we were pretty good at it and I started hiring first couple people. And that's how mental. I've got started and so what ended up happening was Was Living in Canada. I slide on Silicon Valley I would do a whole bunch of meetings and I just never mentioned. I was in Canada. I wouldn't hide it if someone asked me. But people just assume based in San Francisco and so and there was kind of a market price discharge so we charge the market price. So I'd fly down Silicon Valley. I do all the client relationships. Close all the deals. Fly back up to Victoria. Started building a team here and in Canada in Victoria. Especially you know we could pay exceptional high market salaries but still make a good profit margin so agencies typically are actually not very good businesses. They usually have like five percent margins we could operate with much higher margins and so. I had a good problem Which was we were profitable in. We're sitting cash. And I had no idea what to do with it. And around that time I started being about base camp and falling Jason Freedom David Hanson and I looked at these the SAS business that they were building and I was so jealous my business I had to get on planes. That had closed deals. There was always You know you always put the train down the track down in front of the train and win your next project with their business. They could build soffer once and they could sell it to people passively on a self serve model and make money while they slept on a recurring basis and so that appealed to me and so I started building my first SASS product. Which was called ballpark. And it was basically suffered a help me. Run my agency so metal. We're constantly sending estimates doing time tracking so logical thing was. Hey why don't we built some south for to help us with that? And I'm sure there's some other agencies want the same thing so we launched it and it was. It was Okay Success. We made you know a reasonable amount of money for what it was and how much it costs us But I started realizing you know. Some of the challenges of SAST are Indian competing with venture. Businesses I ended up. Starting another SASS. Company called slow Which was very early. Project management kind of astonishing editor which we still own today And then I also started a business called Pixel Union where we partnered with shop affi- back when they were about ten people to help them power to bisky helped power their themes marketplace. So we brought great designed to the shop five platform And built a whole bunch of games for the platform and that was kind of an accidental business. We kind of thought that was something that We would do as a favor to the team shop like you really liked them. And maybe we make a little bit of money. But it ended up turning into a very sizable business. And so we're that left me was I was running. An Agency is writing to Saas software companies as running a rapidly growing digital goods and themes business And I had a bunch of other business ideas which I there are too stupid dimension. So winning all these different companies You know I had like fifty employees or something by this point in kept doing that until the twenty twelve and in two thousand twelve. I just hit it complete wall. I was running too many companies once. I didn't really understand how to higher executives All the companies were jumbled together and I really was just kind of unhappy overwhelmed and so I was pouring her heart out to a friend of mine that he said Nude One. You just saw one of these companies that will take the pressure off. That'll put money in your genes. You can kind of figure out what you WANNA do next. You can start investing and so I did that. I ended up selling Hicksville Union to family office and suddenly I went from you. Know I'd always had cash flow but I suddenly had money on the balance sheet had cash a pile of ads to do something less and I realized that it wasn't sustainable. To just keep growing more and more starting warm or businesses I realized starting businesses with very very difficult and you know I really needed to just focus on the existing companies that we already had and so I started looking at stocks real estate conventional investments and those things. Were always very foreign to me. But I always heard the name. Warren Buffett and. I didn't really know. Think of him. And when they picked up a book about him and started reading. And when I read about this guy who has seventy seventy plus businesses four hundred thousand employees but spends all his time reading talking interesting people buying new companies and really doing whatever the hell he wants. All Day he famously brags about Having nothing on his calendar I just didn't understand that it was possible to have so many different businesses and have some be doing so many things without actually running them all and that sounded pretty good to me and so went deeper and deeper and continue to read about his company. Berkshire hathaway in the history of that. And I went you know. This doesn't seem like rocket science. I think we could actually do this. And we had over the years spoken to private equity firms. And you know we'd gotten stab you know in shut? People have been interested in buying the businesses and over and over and over again. They just made it way too hard to do this. Kind of miserable three to six months trudge of you know really really deep. Diligence you know auto tons and tons of in-person meetings in generally just a lot of wasted time and energy and renegotiation and so I started thinking about what would the founder focused version of this. Who WOULD I have wanted to sell to if I sold my business and so At that time You know my business partner. Chris in our formalized Are Holding Company tiny and we started buying businesses instead of starting them and so We hired CEO's to run all over existing businesses which had a few speed bumps but for the most part Went really well and we started buying these wonderful Internet businesses. That were found to run and we realized we just had this great advantage because we're founders ourselves and we're operators and we know the problems it founders have and what they do on a here and don't want to hear and you know ultimately people will realize that people want a great home. They don't just want the maximum amount of money on the best terms that they actually also care about their employees. While being longevity of the company the company will exist in five or ten years that the brand would be tarnished and really that their life's work will be protected and so You know very quickly. We're able to kind of establish this brand and start working with You know the founders of dribble and all sorts of other incredible businesses to figure out you know a long-term home for their businesses. And so we've been doing that for about seven years We're up to twenty five. I twenty five businesses twenty to twenty five something like that and And then on the side just as a result of working with a lot of interesting You know venture. Investors have equity investors entrepreneurs. We've also just passively made a bunch of venture investments and so he made about eighty venture investments. To be honest. A lot of that was more just to support people on our network and it was just kind of a happy happy accident. Tests putting down roulette chips on people like to support them But you know over time. That's also become a sizeable portfolio and so at the end of the day You know fifteen years later. I've kind of stumbled my way from Freelancer.
"hathaway" Discussed on We Study Billionaires - The Investors Podcast
"For having me guys all right guys so this show. We play Chris from the audience. And this question's very timely. It's from Nathan and Christian is about berkshire-hathaway high presidents take. My question is about Berkshire Hathaway in stock. It owns in his portfolio. Berkshire already owns a specific stock in its portfolio. How do you think about considering a by more than individually taking into account the fact that you already have some exposure to the stock through charts for Photo Nathan thing? That's a great question. I don't think that there are any issues. But you getting a bit more exposure to any of the stocks in buffets portfolio. Because when you do the math you have very little exposure to almost all stocks in his portfolio. Keep in mind. The Buffett's stock portfolio is less than half of the value of books. How the win the first place? They have a lot of operating companies to none even apple. You have two months exposure to now is the biggest position in Berkshire hathaway portfolio which is more than ten percent of the market cap off Berkshire hathaway in the first place and is almost a third of the entire public trade portfolio. But even so consider if you have ten percent Berkshire and then ten percent of that are made up of apple she s you still only have one percent exposure in your portfolio to apple. Now Bill is a little more. It might be closer to one point. Five one point seven in this example if you have ten percent in Berkshire hathaway but any case. It is very little. So even for buffets portfolio that is very top heavy and just an example if you look away from the top ten holdings the eleventh biggest holding is just a bit more than one percent above its entire public trade portfolio. So it's really not significant. It's really my way of saying that you shouldn't think of Buffett's stock picks at all whenever you consider your own portfolio unless you only hold berkshire-hathaway in your portfolio or very close to only hold on that one stock but where do think that. You should pay attention. Is THAT BUFFET. Like all the money. Managers with more than one hundred million dollars on the mennesman has to disclose with surprise the buy stocks. And that may give you good indication of with stocks that are currently undervalued. You can find those prices and those picks at guerrillas for free and we even have a resource Academy where can check out of its picks together with all the super invest us like spear Mona's pop rai and take a closer look at their portfolio. We'll make sure to linked both of those resources in the show notes and then four times a year. The stock picks become available. It's February fifteen may fifteen August fifteen and November fifteen. That doesn't mean that I'll do the same thing as they do but I do. Use Office picks and other supermassive specs ask inspiration and perhaps put a few on them on mental. What's List for further investigation? So Nathan great question. But I really can't add much value beyond Stig's response because I pretty much agree with exactly what he said. So with that Nathan for asking such a great question we're going to give you free access to our intrinsic value course for anyone wanting the checkout the course go to t I P intrinsic value dot com that's T- IP INTRINSIC VALUE DOT com. The course also comes with access to our T. I. P. Finance tool which helps you find and filter. Undervalued stock picks if anyone else wants to get a question played on the show go to ask the investors DOT com. And you can record your question there. If it gets played on the show you get a bunch of free invaluable stuff. All right guys knows all the press down. I had for this week's episode of the PODCAST. We see till again next week. Thank you for listening to ti to access our show notes causes or forums go to the investors. Podcast don't come. This show is for entertainment purposes only before making any decisions. Consult a professional. This show is copyrighted by the investors. Podcast NETWORK. Written permission must be granted before syndication forecasting..
"hathaway" Discussed on We Study Billionaires - The Investors Podcast
"Well I think their different ways of doing it. I tend to be more on the simplistic side of my investment stuff. Like if I can't write it on the back of an envelope or on a short piece of paper and a few sentences then it's probably too complicated for me to take a swing at so for Berkshire. The first passed a look at it. And this will sound a little bit Glib because the answer is going to be kind of silly but if you imagine Berkshire as a bond that yielded ten percent and I think that's a reasonable actual approximation because their return on equity has been ten percent for quite a while and it's likely to be around ten percent for a long time just based on the projects that they're putting money into thinking specifically regulatory yield of NSF and be h energy. So if you imagine a bond that yielded ten percent and you could reinvest the coupons in the business at a continuing ten percent. What would you pay for that bond? Today how much would the market pay for bond? That yielded ten percent in my mind. Safer than Treasury's Today's rates right now. I mean it's like approaching it goes towards infinity right. I mean that's why I said this is sort of like the Glib answer. It's a ridiculously high number. Which I think is more a reflection of today's rates being in my mind kind of ridiculous and not so much a reflection of Berkshire so let's go to a more real answer than some of the parts is away a very popular way of analyzing Berkshire which is basically. Just take all the different little business lines. Add them up and come up with some kind of a number so my back of the envelope. Math for some of the parts is yeah. Let's call energy worth about fifty billion the railroad worth about one hundred billion the. Ms Are the manufacturing service retail is calling one hundred fifty billion insurance call at a thirty billion and then an investment or folio. Three hundred seventy billion ish. You add all those up and you totals up to about seven hundred billion which implies about two hundred eighty dollars per share for the B shares. Quite a bit north of where we are right now so another way of looking at it the business would be. Let's just do a simple? What has Berkshire typically traded around as far as price to book goes into the answer. There is roughly. Let's call it one point. Seven five times price-to-book-value. Today's book value. Let's call it. Four hundred twenty five billion that gets us to a seven hundred and forty billion dollar range of potential valuation. Okay that's in the Ballpark of r sum of the parts. That makes sense. All of these things are all just triangulation. Data points like anyone is not better than the other but if there are all kinds of telling you the same story then maybe you're onto something that's how I think about this. And then maybe the last one would be called like a two pronged approach. And that's basically like add up all of the investments and then try to put some multiple on the actual earning businesses and then add those together. And what does that number tell you in my rough calculations? Let's call it. Two hundred sixty billion for Equity Securities and other one hundred thirty billion for cash. That gives us a three hundred. Ninety billion dollar for Prong One and impromptu will take twenty four billion dollars of operating earnings and multiply that by ten that gives us two hundred forty billion. Add those two numbers together and you end up with six hundred thirty billion as another mark so all of them. In the seven hundred ish billion dollar valuation range so just to recap that. You're saying that the price of the BCS that's right now trading around one hundred ninety five we'll looking at around two hundred and eighty plus minus very interesting. Thank you for breaking that down for us. It is interesting what you would mention there about the potential discount because it is a conglomerate. I guess you would even have. People say that is actually the competitive advantage offer that is a conglomerate to the money would go where it's best used. I guess there's also a discount to Berkshire hathaway because it has not been performing as well. He'll the pastor. Yes it's actually been trading this p five hundred. I think that's probably also one of the reasons why whenever I talk about being good price and all that and I think most listeners were already know I am long. Berkshire Hathaway Cynthia take it for what it is whenever I'm complimenting Jag about why that's a great investment I am obviously biased and it kind of leads me into the next question which is something that which is about position sizing but it's just always such a interesting topic to discuss especially for company like Berkshire Hathaway many investors have different rules from cells when it comes to assisting sizing for example invest might have ruled that he or she won't bill position in a single stock would more than ten percent of their portfolio now. Warren Buffett is previously in his letters to shareholders commented on how many investors holding to how the way as their biggest position in the portfolio most notable himself with more than ninety nine percent of his net worth estimated that more than ninety percent of the shareholders has books. Halloway ask by far the biggest position. Please elaborate on how you see position sizing and if Berkshire Hathaway is an exception to the rules that we may have imposed ourselves giving that is such a diversified company already and may have the downside protection that you mentioned before it very much comes down to your own personal preferences at risk tolerance of how much exposure you're willing to take on any one facet of business or economy or anyone person so the first thing you have to ask yourself is about the opportunity cost. Do you have anything else that might do better than a relatively safe. Call at ten percent or Anam type of return profile if you do then Burke Shire may be sort of an anchor in your portfolio and maybe you don't want too much of it. I don't think that Berkshire is terrible. As a bond proxy maybe especially for someone who's a little bit younger relative to the prices of bonds today? So how much are you willing to do you want as a bond allocation for? Shire may fit the bill of that a little bit like we just talked about you know if it was a ten percent on a lot of portfolio managers who I've talked to and respect. They often will use Berkshire as a cache proxy so if they don't have anything else to invest in rather than whole cash they'll just stick it in Berkshire. I don't think that's a terrible strategy. However the whole point of cash that it doesn't move around at all and Berkshire definitely moves around. I mean in one thousand nine hundred eighty eight or was trading at three times price to book value. Right and typically. It's been one point seven but we've seen a below book value also so to think that it's just this like solid anchor that never moves around provides the liquidity that you want when you need it and I'm not so sure about that. The last thing I would say is that because it is so. Us centric it could form a bit of a home country bias. That is common for a lot of shareholders. People tend to own more whatever country that they live in because they feel like they know it better and if so if you are a US investor and you already own a lot of other US based securities and things that are tied to the US economy then being long Berkshire is just more of that same thing and so you may not have as much diversification geographically speaking when you may end up suffering even stronger to a home country bias but all in all I mean. It's pretty hard to imagine that. Berkshire in Penn. Twenty years is not worth more than five hundred billion dollars so if you have the stomach for long term. You could sleep comfortably at night. Earning probably a ten percent. Roughly return on equity over a long period of time and there are definitely scarier and harder ways of making money. I think you bring up a really interesting point and a good point so jake thank you for your thoughts about burkes. Halloway is always a pleasure to hear how people think about that business that we've been following since the very first episodes here and the masters podcast now. Speaking of that I wanted to end the interview on the slightly more abstract note. Because not only are you a great investor self you also one of the thought leaders in the value investing community or like to relate this to whenever I first started become interested in value investing. I think my motivation was like any other. I wanted to replicate if possible. Howard Buffett pick stocks and that was why.
"hathaway" Discussed on Uncommon
"Dad was really emotional when he was there because he's so a lot of people that looked like he's dead so it was just for me was really surreal experience. What always regret that alarm wasn't that because she decided now bite and work an extra two weeks before coming here and it's Yeah is amazing so anyway now is childhood yes you grew up in kangaroo ground your son of research research next kangaroos around but yeah at in the in the northeast. You your family's actually well you your daddy's Indian right. He was born in India from English back Anglo Indian as they as they described born India third generation born there or he's great grandfather went to India after the athlete Hana's India and then was born. There grew up there and then came to Australia. Okay what sort of your memory of your childhood. Coco's that's a good question. We actually having this conversation a couple of nights ago about half. I can think back. And whether it's you saying photos and then we know remembering all But not actually remembering the actually happening yet because you remembering a memory yet correct but the funniest thing was we were talking about. This and one of my earliest memories is that I was always an entertainer. Which is weird. Because I'm a pretty introverted. Now but back then I was I was quite extroverted and seeing a of John. Farnum fight mark singing John Farnum. That's the earliest thing I can ever remember but really I had a really blessed child. That's the only thing. Yeah I think that would be. That's my earliest song. Choice always with voice. You're the vice. Yeah it was interesting recently. I just got give my yours all types and we were watching him and there was an ad that John Farnum did four like the mold. The new book straight in the eighties at. It's such an amazing. I'd like the way that I like. Got People down. There is sort of like a fair almost and that's really funny like Hell. That was influence a marketing ban. So I mean I can get stuck in John Fong Youtube Vortex for way. Just watch on them but so funny he was an icon back in the you. Watch the the fire. The Bushfire Relief Concert nive washing. Hey dominated that yeah. Yeah good idea. I was amazed that I didn't actually fucking here about this concept until it had happened. I signed I think the first time I heard about it was three days out or two days avenue and advert on TV Johnson. Being like we're going to be covering day is my problem. I don't watch a lot of Standard Network unless like just comes on automatically on the TV anymore like well listen generation generation. My my mom was still watch you know. Let the news in the background stuff. That which is interesting. I mean I had some might sell a CHARLOTTA channel seven which would come out in April saw. We'll be the first time in probably years highlighting show to watch. Yeah another thing about is like when I'm at night sitting on the couch and like maybe I'll look at twitter assignment that everyone's talking about math zero. I can't I haven't watched did but I was like I wonder if it's still on just WanNa see what it's what it's about an like. I got the clips. This is people arguing all time. There's a show on afterwards. That Lauren law watched it. It's called first dates. Yeah Fuck it was actually like sometimes that stuff is kind of wholesome. It can be a real. Tv CAN BE CON- for the life of me understand. Reality TV are made. I'm not just could be made but I don't I don't get it like I mean why not. Just certain ones like I`ll. I'll watch master chef because I like sort of. I guess the story and had a couple of friends contestants on master chef and so that then anything to do with a May maybe. I'm just not into that sort of draw about like it's it makes. It makes me anxious when I'm watching this. I'm like all my God. Can you imagine yourself being in a scenario like actually ran the corner office? Add someone on the white of the Maka one day. Asked me whether I want to be on these shows? What wasn't I think it was married? A first batch law does yeah. Yeah there was some scare from channel nine. I'm like carrying this Nanna roller bag. And she's like. Do you want to be a high from Channel Nine? I'm a scout and do you want to consider being reality TV. I'm like maybe depends and then she's like married a facade and I'm like I'm engaged. I remember when the first big brothers like the original gretel killeen. Big Brothers were happening and everyone was like. Oh my God you should be on big brother and you should go and big brother all this stuff and I was just like you. WanNa be that person who's becomes eight and from big brother? My personal preference is now but Yeah just not into it but like the same sort of back to that thing about television. It's sort of. I think everyone just gets their content net like what she's Youtube and you can watch enough stuff on on your device now. There is the reality. Tv than. And I think if I think about the people that I've interviewed on. Tv in the ones that have come out. Wholesome the only real one I can think of is someone like Sam would and in that case is very rare because he went in for the right purpose and he had good intentions. Yeah breads marced people who go umbrella gray so that that was the lesson for me and it's quite obvious that in in ninety nine point nine nine percent of chances may being spin reality. Tv There's no fucking way. Would you think that? Do you think it's changed now? Even that was only what four four years ago five years ago. That Sam was on that that it's now just about drama like it's now just about writing. It's not actually match people who are going to be good for each other. We're going to create good. Go Tavis Tavis. But they would advertisers. We think it's good day and then it's no way. Calloway's kill me now to talk about your ill the I guess Korea winters ads. Yep He didn't actually board you to stay with mates which is fascinating when you just sort of like. Hey Can I. I was the I was the third child and my Go-to Saigo into parade. And then so there's and there's this gap between my brother and I and so I think by that time my parents just like you'll be right. Let you might say that all before so but yeah I mean really lucky had such amazing friends and things like that and I. I would stay at my friend's places after school inside the not dare and then go to school. The next I not not not every day did do the air and a half two hour bus ride each way most most days which is why when I finished school. I didn't WANNA keep going go straight back into view because I just didn't want to do that anymore. But yes so but I had a pretty Pretty good friendship from there. That would let me bold at the place and their parents would look after they. Its you studied naval architecture. Are My team. I remember chatting about this because I was fascinated with her. When I was at high school. I thought yeah. I'm going to be a naval architect. But then you ended up as a copywriter. Yeah so riddle me. How the transition from budding naval architect to that well it took me five years to find out that's what I wanted to do naval architecture At because growing up in high school I was so against the system of even from that age. I would always push back. And we'd have you vocation adviser. Who would help you do what you want to do. When you're older and these are the subjects you should do and I was always like how you meant to know when you fifteen. Sixteen gone into year eleven. That what you want. When you're older which would influence the subjects that you had to picking your eleven to get the school that required to then getting to the course that you wanted to do so many things change and I just thought it was so much pressure. Always be like well. I don't know we don't want to do what I want to do. When I finished school I did my work experience as a dentist really because I wanted to grow growing up. I thought I wanted to be a dentist because I had braces. When I was a kid you could probably tell us fuck male but hey drove a really us Mercedes and I was like jeeze if he can. What are you? What are you going to do to try to name exactly? So you know and that's how you know as a kid. My brain thought about that but it was. I didn't know what I wanted to do And then we'll do the most broad subjects possible to give you a school where you can choose lighter and it was Maths methods French chemistry biology English obviously And so once I finished school. I moved to Byron Bay. I went to school. He's I didn't come back for six months. Eight months or whatever and just stayed there and worked up there and lived up there with a couple of nights and a regular thing in your good stay. Sorry yeah and I didn't even check my. I didn't even check my score until sometime in February like I just didn't didn't worry about it didn't because I just knew that. Hey the decisions I was going to make. We're all going to come later on in my life. I wanted to travel a lot and I spent like those first five years. Working six months traveling working six months traveling And then finally got to the realization. I was like hey gro you know grew up down the Sorrento my life. Every summer love the WOULDA loved drawing level that sort of the creative of illustration things like that and I was like well. I'm going to be a navy locked it. They all want to design boards and I did get a helping hand from that movie. The island where he's he's yacht designer in that movie and I was like that. That's that's a pretty sick career like it would be to do that so I went and studied. There's only two places look back. They're not ever done back then. There was only two places you could do it. University of New South Wales and the maritime college percent so did the engineering half in Melbourne. And then halfway through that went to South Africa. I'm for the Football World Cup in two thousand and ten and just the required. Benetton out of there but when we were there. The public transport system wasn't sort of sit up for a massive end like that. So everyone hide cars so everyone was driving around in Hidekazu from location to location following the teams and things like that so there were the locals. Was selling these flags that went on your car window mirrors so you could identify. Everyone could identify what country that will form. So you'd be you'd pull up to the lots obeys God's on the Straits on a couple of Bucks. Stay sort of socks that went over here. Revision mirrors that had the country. You're from flag.
"hathaway" Discussed on ESPN On Ice with Wyshynski and Kaplan Show
"Our thanks to Dan Girardi who gave his blood sweat sweat and tears for thirteen years in the NHL. And you know we've been talking about this week in the NHL. What's up blood and sweat a bit? It's it's it's. It's been a nasty week my friend Greg and just as we started recording this podcast we got news that Garnet Hathaway of the Washington capitals has been suspended for three games aimed for spitting on Erica Branson and before we get into this I have to say I've been triggered all week because in my career high school field hockey player. I was pretty good my team. It was pretty good I had a lot of shoving and physicality in the play but nothing scarred me more than when we were playing leave it was God Bergen County school and a girl gave me a wet willy and I was just disgusted with the biggest violation of my personal space. It was the nastiest thing that ever happened to me. I don't think I've ever gotten over it to this day. And so all I have to say is spit. Is it a disgusting thing now if she had a punched you in the face rather than that would that have scarred you or just the wet Willie. No that's what I'm saying like. I had black eyes from the sport I have you know rashes and Burns of turf on my leg and this is the thing that sticks with me some ten years later. So here's the situation and in this just came down as we were doing the podcast as you know. Washington capitals forward Garnett. Hathaway away was given a match penalty for a spitting incident involving Anaheim Anaheim defenseman. Eric Could Branson he could Branson punched in the face. And hathaway came back by spitting on him and Hathaway Waigel spent a huge water. Spit to Hathaway's as credit hathaway's credit. He came clean with the spit. He said look at me. I did a bad thing thing. I shouldn't have done it. I spit on him. There wasn't any semantics I was just trying to talk to him and a big water spill came out. I wasn't a an intentional does he. He lived up to it. And that's that's great and all the ducks were very upset. My God spitting. Oh Geez at a front of the game. Worst thing I've ever seen. How dare? Oh he spit. This is a game where people skate around for sixty minutes hitting each other in the mouth of the stick. Remember that for a second Garnett hathaway through the NHL's VP. Of Hockey operations. Colin Campbell. Who yesterday yesterday in after the? GM meetings explained that it's a good thing that it wasn't a spit against an official because that would be a real a real punishment still ends up giving guard hathaway a three game suspension for spitting out another player. Three game suspension for spitting on another another flare three regular-season Hockey Games for spitting on another flare. Yeah it's Nasty Greg. Colin Campbell was asked yesterday by Campbell the relation of the hockey news and can kind of you know said it in a in a bit of a serious way and then Colin coli kind of Played it off in a joking way. He asked him how is a bit different the Olympic. And it's kind of ridiculous debate to have but I guess one that's worth having when you think about a guy running around licking people in the play offs not even getting a single game not even getting a fine. I don't believe believe it. He marchant did he. Just gets you warnings you just got to talking to you. Talking to a player spits under the guy he gets three game MHM suspension now. I'm not saying that one guy scores thirty goals and the other guys Garnett Hathaway who many people even it was in the the league. But that's what it is and I I cannot comprehend how somebody gets three games in a league where guys his elbow each other punch each other sticky other trip each other board each other cripple each other and don't get three games for it. I don't WanNa be that guy that compares player your safety to hockey operations but I'll be that guy it makes us league look like a joke an absolute joke. Do this three games for a Spitz pitch. I think the problem is that there's just too much discretion here on this inconsistency and this is going to bring me into the next topic which was just as controversial if not more controversial in my opinion. And that's what happened with Matt Calvert in that game against the Vancouver canucks. Do you mind if I transition to that. I've said I've Said said my piece. You just heard out I understand. I understand I understand you know. I guess you have to suspend someone for fear that there will be other incidents students so spitting but a three three three game suspension and again this is a league where context is king. This is a league where guys is. Don't get suspended because they're like well. He was just reacting to getting punched in the face. Or what have you right. First of all by the way if there's one deficiency agency in player safety and and and player Enforcement in this league it's the Sucker Punch got shoulder. Show me a sucker punch that ever got three games a give him three games for spitting. I'm sorry I hate to be the guy that just like you know compare and contrast suspensions but I did a hit on DC radio this morning. You're like do you think he's getting suspended ended. I'm like well usually when there's a hearing this probably suspension. But it wouldn't surprise me if they just gave him a fine three games. Three Games for a Luyi Larry benchmark. That's the benchmark three games for Louis to get to board a guy first time offender. That game it's fine you know but Lougee Lougee. We'll make sure we get the drain the spit from this league. I'm only what I take umbrage to. Moore's is Matt Calvert Situation Though and if you didn't watch that Game Matt Calvert Block the shot against Lies Patterson and it's pretty much to his face at point blank range and he is on the ground and it is clear he is with her in pain so much so that allies Patterson tries to wave down the official and like get his attention but as the NHL book says if a team if a player goes was down and the other teams in control the Puck at the time of the injury plagued. He'll be stopped immediately told. His team is in scoring position. I totally butchered that. But the point of this if the other guys have the puck and they got possession just play on however if in this case where there's an obvious players as dangerous as serious injury. The referee Linesman may stop play immediately. So there's was opportunity for the reps to stop play immediately and my issue here is that it was on the judgment of the rest like this is all about discretion and the NHL came out and the general managers. Inter's met when you were in Toronto. And they said you know what we don't feel the need to change this rule because it was a judgement thing was an error of judgement. They probably should've stopped the play but they shouldn't didn't. Why wouldn't they want to create a rule that better as the health and safety of the game when they have an opportunity and rather to say? Hey we trust the rep's who clearly clearly had a gross injustice in this situation. That disappointed me more. I was really disturbed to see how this played out to sea that covered on the ice for that period period of time before he was being able to tended to buy his trainers and it kind of just sickened me. Yeah it was a cell phone to watch Steve Welcome the director of officiating for the NHL had a lot to say on this. I think it's clear that GM's and the league no that the REF screwed screwed up here walk them was kind of excusing. His guys by saying that the injury occurred that they may be couldn't see it. They couldn't see the blood it was it was. It happened in a weird position on the ice. I'm not surprised that there. There's no appetite for rewriting. The rule book. I just think they screwed up. Typically the rule of thumb is if you see blood you stop the play and honestly. I think that's a pretty good rule of thumb. I I know that in an era of player safety. We don't want to sit here and say that guy's embellish Sometimes they do and I know an aeroplane safety. We don't want to say that all injuries are equal. But they're not I mean guy gets Pitney angle with the PUCK. It's a lot different than guy bleeding out on the ice devils fans will remember a situation in the Stanley Cup. Final against the Detroit Red Wings. Nineteen Ninety five win the game winning goal. I believe it was engaged to scored by Jim. Dowd was scored after Paul. coffey blocked a shot was unable to leave the ice devils maintain. Possession scored the game winning goal. And that's a situation. We see play out a lot in this league and it's an injurious game and sometimes uh-huh guys get hurt and please continue but that is obviously like light years away from what happened with Calvert and the avalanche should be rightfully we Upset about it. Did you think that because of this because the way the the usually works. Is that when you see an incident. They tend to overreact to things and change as a rule book. For example. I guess making spitting three game suspension. Whoa you think that they were going to rewrite the rulebook on Calvert thing yeah I thought they could reward great that wording for sure we've seen incidents where they've totally changed rules to betterment player safety in the one example I can think of is at this year the new rule? Where if you're helmet comes off? You've got to exit play immediately to go get a new helmet or else. Your team's assessed a penalty like there's easy ways that we can they do this So yeah I think that they were going to have some kind of rewarding I I did and that's why I was sort of surprised that it did nothing came out of it from the GM's meeting eating. But they tend to believe the rule is good. They tend to believe that you know the rest. Discretion is where it should be and I just think we should be putting the refs in the the best position to succeed. Their job is hard enough as it is. There's not going to be an eye in the sky. Something else like. Let's not leave them with these gray areas and say let's leave it as a judgment husband. Call when like you said Stephen Him to admit they weren't in the best position to see it. Yeah and I think there there is a general sense that if they were going to alter the rule book it should be to to a situation. Where if there's a scoring play happening an guys down on the ice you let it happen but it's right but you're not gonna go let them start playing keyboard behind I think there might be some support for that but not enough from the people that actually make these decisions apparently early so there you have it spit blood hockey signed up for Greg. Okay right now. It's time for our favorite segment of castle. Hot Dogs. No he does not love.
"hathaway" Discussed on KNST AM 790
"Rebel Wilson Anne Hathaway, the star in the dirty rotten scoundrels gender, flip as con artists squaring off to prove their skills Hathaway is no stranger to the gender flip scripts as she also started oceans eight I asked their thoughts on how we've seen several of these remakes on the screen the past few years. Well, I think that everybody's wising up to fact that women. Film's star women. Do good business. And there is very harmful meth out there for very long time that women don't go to see movies, and that people don't go to see movies that star women, and we're just having a moment right now where we're actually letting the MAC speak for itself and Hollywood is a business. I feel so lucky to have come to Hollywood at feel like the exact right time with the just the talking game out driven comedies. I come in and get getting the movie bridesmaids and just brilliant female on some bold. Ashley Dvorkin, Fox News. Goes to ninety two sons. Most stimulating talk hosts you actually know are on t. This is handle on the law. Marginal big league. Vice I tell.
"hathaway" Discussed on The Dan Le Batard Show with Stugotz
"Warren buffet is offering employee does something like this every year. He is offering employees of Berkshire Hathaway we've had worn on the show a couple of times. He's fantastic. I'll try to get them next week. He's offering them one million dollars a year for life if they can pick these Sweet Sixteen correctly. And so got me thinking, we should all try to get between now and Wednesday just some quick part time work at I'd lecture Hathaway's on this. Yes. That is. Well, we should all apply. Sweet sixteen. Yeah. Just this week. Six can only be one entry because I can turn out about fifty of those bad boys and get the Sweet Sixteen right? I'm reading straight off of Twitter from Forbes Warren buffet is offering his nearly four hundred thousand employees at Berkshire Hathaway companies a chance to win one million dollars a year for life. The catch you need to pick the correct Sweet Sixteen in the men's NCW basketball tournament Bill. So if I were to do this, I'm employee and I win right? Do I need to stay in -ployed by them. Or like, I just got a million dollars. I can retire. I am not certain. I haven't I'm just reading the headline having clicked on the article. One million life. I I would assume that you have an option to retire there. Right. I would assume that if you get the Sweet Sixteen right? You have the option to retire? I bet he could make your life, and like I can make you disappear. Someone actually did it. This is probably reckless but feel. Warren Buffett saying, I mean, if you wanted somebody disappear Warren Buffett can make someone disappeared we Warren Buffett who still lives in the same house who still eats like peanut butter and jelly sandwiches. Why do you have them eliminating people? I'm just saying. I mean, let's say yes, he can make you disappear too. And I would assume he's rooting for someone like in the sixties to win right sixty or seventy year old Martin for a win Bill. No. But I know, but if someone wins he doesn't want the up and comer twenty two year old just out of college. So when you think right? Can you put it on the poll can Warren Buffett make you disappear and also is Warren Buffett rooting for anyone to win both of those at lebatardshow on Twitter. You guys have I gave you five words here from Izzy family Cleveland Barkley Knicks marked for.
"hathaway" Discussed on Watch What Happens Live with Andy Cohen
"Morgan Freeman one two three. Okay. Someone else who you both co starred with in interstellar. Timothy Charlemagne one two three. On loose that goes together to okay, Channing Tatum. One two three three. He will pick your pocket, but he knows what you want is. I. Thank you very much for. On. I thought since you're in magic Mike you go like this. And I was like oh my God. All right. Let's go to the phones. Nathan from Ohio is on the line with the question for Anne Hathaway what your question Nathan. Hi, andy. Hi, and hi, Matthew. Hey. My question is for an as somebody who has hosted the Oscars. What do you think about the decision to go host list this year? Well, I would like to think that I am an immediate reminder that sometimes it's better to go with no host than. And four something. That's just not working. People gave you too hard of a time. Let that I mean. Yes. And no, yes. And no, I think that it was a really impossible situation. And I think that clearly I was trying to do a good job which didn't deserve the amount of scoring that it got. But I also don't think that I was the right person for the job. Well, I like it that you gave it your all. I did. Yes. We all know, I gave it ever rethink. I hey, do anything. Oh, Randy UN wants to know if you really drive a Lincoln. Absolutely. There's three in both of my driveways. Right. And by the way, we did pay. Attention. You arrived in a link. Yes. I'm speaking of what are you drinking tonight because we're drinking the same thing? We are. We are drinking long branch little this is your bourbon. Right. This is my bourbon that I created with that he wrestled wild Turkey. So I I became creative director while Turkey. I went to Eddie Russell. And I said I've always wanted to create my own bourbon. Right. Here's what I like we'd steeped into mosquito for two years. He sent me pint and finally the eighth pint really, that's it you tell tell the difference absolute zeroed in and this is my favorite bourbon on plant right here. It's it's really what do you think? It's really nice. I just had some. I'm just so happy that you weren't like, you know, it was the first one right on it is I mean, it's not hard work to try bourbons. Right. You have to wait for the right time. You get them on Tuesday. Three PM not enough Friday night. Right. Right. Carly from Minnesota wants to know. And did you have a favorite outfit that you wore during devil wears Prada? Oh, so many so many gosh, I loved that green coat with the the leopard collar in the in the montage kind of Andy's makeover montage. And I also just loved that that what I wear the final one in Paris. And I didn't it was on recently in. Yeah. I watched it. And so, and I didn't notice it until that time that the neckline of my outfit and Meryl's outfit was exactly the same. And Patricia fields just used as such genius. Which is this like subtle thing that you put in not show. Andy was becoming. Yes. That was really cool. Let's go to jetty from Michigan. I recently rewatch that to actually Jenny Witcher question for Matthew, mcconaughey. Andy Reid is great..
"hathaway" Discussed on News Radio 1190 KEX
"Hathaway wants to off. Her husband is this the thriller that everybody says it is trying to be and boy is it really trying to. I mean, it's trying to be a Hitchcock thriller. But it's really the first hour of is just as drug guy. You stumbling around this tropical island going out and trying to catch a fish until his ex wife comes in. It's like, yeah. Knock off my husband. They kinda overdue trying to make it so impactful and intense, and they like double down on the soundtrack every minute or two and did that it almost gets ludicrous. It's not a really good thriller is kind of boring, but about an hour in there something else that happens, which I can't even tell you because it would spoil stuff, but it changes a lot of things that have makes the movie not better. But more interesting, and it kind of got me through. I wanna see how it was all going to resolve it, it it gets an A for effort, you know, on the actors go good job. But it doesn't get any for anything. Else it it really does kind of stumble around not knowing exactly how to formulate things. I it does have great. You know, kind of like a nice turn. It spends too much screen time explaining what just happened. Wow. I mean, you've got some powerful actors in this thing and the supporting cast is big you'd think this would be a blockbuster. But it's it's sounds to me like there's going to be pretty middling movie. Yeah. It's it's not it's it's something that is Embiid and has a nice idea, but never quite a coalesced into a decent movie. It's gonna have stiff competition from STAN and Ollie..
"hathaway" Discussed on Double Toasted
"Another character who wasn't all meaningless. But Jason Clark's character. Who's the, you know, the heavy in this movie? And I don't think Jason Clark was was bad. But they make his character soul over the top. That was like Jesus, man. Even Satan is not this evil. Well, that's that's that's the that's the thing. Man. I mean before all these twists happen. It's not that great. Anyway, all the said all these characters are flat. I as I was mentioning you know, when we were talking about this. Matthew my excuse me. Matthew mcconnahey is kinda like the drunk with the dark secret. But has a soul dark secret will reveal why he is like he is we talked about Anne Hathaway Anne Hathaway straight out a Bill more detective novel. You know? Zima SU he none. But the the inspiration of black side kick, right? That negro he's just a to Wang's away from being the magical, mystical negro. He's just short of saying Mr. Kearney's both going to help you boss. He's his conscience. He's yeah. He's black Jimmy cricket. And even he. And even has a big back store that they that they build up and he's highly in the movie like they go through his family tree and shit. All the whole my granddaughter needs money for the next semester. Okay. I'm Kelly that granddaughter ain't got shit to do this movie. When it's all said and done all this shit. They talking about ain't got nothing to do with anything. It's funny. How things can be destroyed by one simple turn in a movie. And as I was saying before the twisties characters were not that great in the one. I thought was the worst was Jason Clark. Jason Clark plays and Hathaway's a husband, and that's cool. Okay. You know, but they they tried to hard to make us not liking to make us hate him. Every single thing he says every not not some of it every single word. It comes out of his mouth paints him as the most despicable asshole. You could ever meet in your life. He everything God, man. You know? Yeah. He'd really show him giving a homeless person a dollar. We give some substance to this do I mean he had to do that. But just say something. I was gonna say something nice. But just not mean to somebody. Yeah. This. This is just the slimy. Shitty person. He beats his wife he beats his step kid. He launched his money his money. He rolls. He rose over everybody when he's carrying a gun. Asshole. My wife my beautiful wife. She ranged this trip. She sat up on the internet night after night typing away to find the perfect boat. That's not make this trip because she wants it to be perfect perfect for me. Myself. I'd say son of talk at same as any other not fly to some of the Ryland. But I don't got time..
"hathaway" Discussed on BiggerPockets Money Podcast
"I'm a Berkshire Hathaway stockholder, and they are a member of the Berkshire Hathaway families. So I get that discount. We'll so what are some of the biggest contracts that you think that like your normal persons? You're listening to the show hem reviewed your finances in couple of months, what are some of these ones that you probably think standout as a checklist to kind of go after cell phone, cable and internet insurance. I think people know they're fixed costs each year. You can negotiate rent negotiate any of these things it doesn't hurt to ask. And you should just give it a shot when the worst that they can say, no, they're not gonna shoot you think about rent most, people don't even consider the fact that they're gonna go she rent, and if you're renting from private individual, and you wanna say, and maybe people do know because this is. The bigger pockets money podcast. Like, they don't turnover is a big pain. And so if someone says, oh, can I get a break on the rent if I sign a two year lease three year lease maybe three years is a little too long. But like, maybe they can knock a little off the red. You can say, oh, I can pay this way or that way. Or sooner faster? You can always they're different levers that if you have a little bit of creativity. You can try to find an it never hurts to ask. Is there anything I could do to make the she related with the insurance agent, which I didn't even think about. Yeah. Love it Switzer next. What's your next tip after that? So what had happened was? I heard all these things about like the lot factor in Brown. Bagging your lunch, and it sounded those are all great ways to save money. But they don't get the fact like it doesn't make your life too much easier. And so the thought that I had and this is what actually did was I call it.
"hathaway" Discussed on BiggerPockets
"I'm a Berkshire Hathaway stockholder, and they are a member of the Berkshire Hathaway families. So I get that discount. We'll so what are some of the biggest contracts that you think that like your normal persons? You're listening to the show hem reviewed your finances in couple of months, what are some of these ones that you probably think standout as a checklist to kind of go after cell phone, cable and internet insurance. I think people know they're fixed costs each year. You can negotiate rent negotiate any of these things it doesn't hurt to ask. And you should just give it a shot when the worst that they can say, no, they're not gonna shoot you think about rent most, people don't even consider the fact that they're gonna go she rent, and if you're renting from private individual, and you wanna say, and maybe people do know because this is. The bigger pockets money podcast. Like, they don't turn over is a big pain. And so if someone says, oh, can I get a break on the rent if I sign a two year lease three year lease maybe three or is a little too long. But like, maybe they can knock a little off the red. You can say, oh, I can pay this way or that way. Or sooner faster? You can always they're different levers that if you have a little bit of creativity. You can try to find an it never hurts to ask. Is there anything I could do to make the she related with the insurance agent, which I didn't even think about. Yeah. Love it Switzer next. What's your next tip after that? So what had happened was? I heard all these things about like the lot factor in Brown. Bagging your lunch, and it sounded those are all great ways to save money. But they don't get the fact like it doesn't make your life too much easier. And so the the thought that I had and this is what actually did was I call it.
"hathaway" Discussed on Keep It!
"Can we get around for jaw and we're back with our final and favorite part of the show it's where we decide what we don't like this week in pop culture it's called keep it louis why don't you go i keep it to anne hathaway haters how real keep it yes you think that doesn't exist if you on the internet let me teach you about the internet sometimes sweetie this just a roundabout way for you to talk about anne hathaway at how much you love her we guess you've got it all right what would be worse than positively i would just hate that did you guys see ocean's eight yet it is came out they've been at this you guys have been here right snuck it on thursday night as i did starting thursday let me say something about this movie it is a little slow it is not as dynamic as i wanted to be and yet it is a showcase for how fucking funny in hathaway is i feel like she's always somebody who were were saying kind of needs a comeback like we got so sick of her after she won her oscar we thought she was so annoying and she has literally never been bad in a movie she looks ravishing she's got comedic chops and guys you are fooling yourselves if you think she is not as good as maryland delaware's product she is amazing in that movie also so i just want to say can we retire this fucking two thousand eleven take that somehow she is unworthy of being this rad movie star who does have an oscar it's just a supporting get over it congrats anne hathaway.
"hathaway" Discussed on 760 KFMB Radio
"Yeah and that's part of that me glad you bring that up because there's five hundred has a lot of high flyers in it like net flicks and for some reason the video these these high fires at a way overpriced which warren buffett would never by he's more of a long term investor and the berkshire hathaway bshares is his portfolio one tenth the size of the berkshire hathaway asia's but a little apple down i guess not a little you actually quite a bit of it i mean he jumped in and bought a lot of apple i think it's about i wanna say apple so big i think it's still about five percent of company but he bought gosh just bob was one hundred hundred billion he bought her seventy five billion plus he had some already so he's he's taking a big position into the numbers here on berkshire hathaway beat to see if it makes sense to get into this and again i love his management style but sometimes even that can become overprice as far as what you're paying for the stock of berkshire hathaway racial very expensive forty two point six versus seventeen prices sales two point one versus one point three price to book value two point one one point seven and price casual twentythree versus eleven so very expensive what you're paying for this stock here we do see sales are up point one percent year over year the initially up seven point seven earnings per share they fell by forty eight point eight the initial down seven point three some kinda surprising that number the balance sheet we see told that area of twenty eight point five versus thirty two that's okay return on equity is three point six eight point seven net profit margin is five versus seven point six so that's good we see will turn over i'm sorry that's not good we see we'll try seventeen point five or two point nine and inventory turnover levin point eight versus not material i excited about these and i've never bought a again my like warren buffett's management style is different what he holds.
"hathaway" Discussed on KMOX News Radio 1120
"You just about everything you wanna know personal and professional about warren buffett but in any case he's built himself up to be the most successful investor of all time chairman of a company called berkshire hathaway he and his partner charlie munger are the most widely read and quoted invest news that you'll ever see or hear and for good reason they come up with some really good quotes and so this is the week warren buffett through despite being this one of the smartest guys ever and being so widely quoted and so widely studied and in some cases so misunderstood although he says he has a very simple philosophy has never written a book he's being interviewed he's you know he's very gracious with his time in his wisdom he's he's gone into business schools i know he's been into mizzou at least once and taught and our there with the students spent some time ate a lunch with them and so on but he's a ease off he's a above goldmine of information because this guy's done it he knows what works and what doesn't work in a year in february he writes this letter in sends it out two views shareholders at berkshire hathaway nad is required reading for anybody who does what i do which is manage money professionally for individuals and for institutions and so on and on these letters have come out for years they're you know they're available to the public so before you do anything else if you wanna learn how to pick stocks you want to understand warren buffett as best you can in the best way to understand him is to read what he writes and he doesn't again doesn't write a lot but he um he is out with this year's annual report to shareholders which you can go online i think it's berkshire hathaway dot com.
"hathaway" Discussed on X96
"Com slash drivenow well that's what's his name mug tanja chuck todd also a taxidermist kerry found that so fast all of it he now he said this centipede he caught it and they they will bite is hugh earlier allow and that's not a there's a better picture because it chose a him holding a perspective at us manhattan but he says i caught him on i put him in a buck that he was still alive and he stood up in the bucket like a cold rods nightmare fuel he crawled out of that bucket four or five times before i got him in there even eventually managed to get the santa pete inside a plastic bag and froze it in a freezer after it died i took it out and bought it next couple of days a put him in some a piece of styrofoam borden pindi now injected him with formaldehyde in areas man oh man man i'm on the wall yeah yeah he did i just my skin is crawling through uh as this i think this is a vietnamese they're called vietnamese centipedes uh and if you are bitten by wanted says you would expect exterior experience extreme pain he has fight is just really hard bat redmi round the by any in rare cases uh you could have caused death but there but they're not poisonous set that cady air hack via the on damage they're not poisonous net really necessarily although you can get you know like an award gic reaction or something to them all right uh pretty creepy huh yeah uh the a utah set all me to destroy iom amazon yes let's a jeff these home berkshire hathaway at so rc willie warren buffett warren buffett they owned mercy willie k and a jp morgan chase now i don't know too much about jp morgan chase other than it's a you know so financial but i know that uh uh warren buffett berkshire hathaway hathaway is a very wealthy one of the is often on the top of the list of wealthiest men in the world yeah uh and he's also liberal spirit of social liberal particularly uh and jeff bezos of amazon also social liberal with conscience okay i bring these the because they have announced it's amazon berkshire hathaway and jp morgan chase that they are forming an independent health care company too served their employees that's a lot of.