18 Burst results for "Warren Warren Buffett"
"warren warren buffett" Discussed on 710 WOR
"Like 3% 2 to 3%. It was really high, actually. When we were at Lows of March. By the way, folks In March tweets him the greatest companies in the world on sale. And and so many people were freaking out. On DH probably will have that within the next 2 to 3 years. So save your money. There will be some epic deals. Coming in the future. So. Disney stocks dividend 1.350 that's because it went up so 1.35 cents, so 1.35%. If you bought in the low had been like a 5% even anyway, so 1.35% So that dividend that's paid every year you pay tax in that that goes on your tax return. 10 9 and 10. 99 interest so that that gives me two tax tip of the day. Don't pay taxes on money. You're not spending Buy stocks that don't pay a dividend. Be like Warren, you know that Warren Warren Buffett is doctors and pay dividends so he doesn't have to baby taxes. But he buys dividend paying stocks and he puts it in his holding company. So any other questions on that, sir? Well, that's what I want to say is that there should be no different from the tax on the dividend and attacks on the capital game. It should be the same. But it's a different of given animal totally different animal. Your dividend. Taxation is ordinary income if we had a flat tax, and everybody was tax 15 cents on everything. Would it be for that? I might be. I'd have to look into it. Yeah, why? I doubt it. Because if you're for the removal of a step up in basis, it tells me a little something about you, but I hope you would be consistent. That's why I'm a big advocate of flat tax, make everything 15% and call today. No loopholes, no set asides, no deductions. No, The government doesn't pick any winners and losers. But that's different than living within this current oppressive tax code. And tax in Grandma's dead stock, But I commend you for Your consistency, I think, but I've never met anyone who's been for the removal of step up and for the flat tax. Because usually For some reason, people who are for the removal of the step up in base is our against that would that would actually be a good thing. Just have 15 cents tax and everything. I'd go for that. Would you go for that? I know I have to look into it, but you just said you just said you just said you wanted no Gimmicks. No special treatment. The flat tax. You should be a flat tax guy. Look it up. Okay, folks, give us a call 803 2107 10. Leaving for more calling folks. Whatever your stance on taxes are Even liberals want conservatives to manage their money. I looked that phrase because you want someone who is going to vigorously look for any way they can save you on taxes in your portfolio in retirement plan. So call us now 88 9 today, Josh 88 9 today, Josh 8889985674 and you get a free book when you schedule and keep your obligation review. Even liberals wanna conservative to manage their money calls now aged 89 today, Josh Josh Dolinsky, the financial quarterback.
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
"warren warren buffett" Discussed on The Tai Lopez Show
"So let's talk about something that is talked about once in a while in business but not enough I was talking with Alex. Business Partner about scaling This new business we've launched and he of course is always was a little bit more. How do I put gung-ho than I am about scaling and so he's like let's go let's go let's go? Let's let's get the company of an animal. I quoted quoted something that I read. I can't remember the exact words now. Basically said you can only scale a business as quickly as you can hire. You can scale hiring and there's a lot of truth that because I don't care what business you're in. The hardest part is not product development. It's not marketing marketing. A good product is easy. You know if you can't market it's usually because your product is in good. Nobody wants it you know. You can't sell underwater basket weaving to the world. No matter target marketing skills are if you pick something that people want like Uber. Pick something that people wanted just sold because you know Uber and Lift People Wanna I have to get a taxi and they WANNA cards so if product and marketing heart business especially when you want scale. What is the hard part? In my opinion. It is growing your employee. Base your assistance your marketing team. You know if you're right hand man or woman you're Ceelo getting good accounting bookkeepers. Like this is usually for twenty nineteen on being really good. Get at hiring in one of the reasons that I partnered in O- on my show with Ziprecruiter is just because it's a powerful tool because they actually unlike most job sites ziprecruiter finds qualified campaigns for you and that's the that's unfortunately like Warren Warren Buffett said when he graduated from Wharton he thought it was gonna be really hard to make a lot of money. Because there's so many talented people in the world. Then he said he went out in the real world and it was like wait is is again. There wasn't that many good people and for that reason. If you can use technology like what Ziprecruiter has to narrow down the needle in the Haystack in twenty nineteen gene. That's GonNa be when you look back on twenty nineteen. You'll be like the domino that you pushed that made all the other. Dominos fall in place was efficient hiring ziprecruiter effective four out of five employers. Who Post on Ziprecruiter get a quality candidate through the site within the first day so are you can start off this year strong? You just go to ziprecruiter dot com slash tie that's ziprecruiter dot com slash. Ti ZIPRECRUITER DOT com slash Thai..
"warren warren buffett" Discussed on KSFO-AM
"Next week it's going to be I looks and right now couple nights next week in the mid twenties yes saw that well that'll kill all the pollen for sure I hope so and so much it deserves to die so my sister lives outside buffalo and sent me here it is in a little dusting now would close you know close down Texas for a week but that right now this would even close down Texas we would cancel school for the semester it was just a little bit of a dusting almost on social media all these people I know from buffalo or posting I mean just twenty but snow and I'm like what's going on with you people is is is is is part of the is is this part of all the surveys this week that showed that were stressed by everything yeah or the media and how they're behaving is everybody just behaving this way somebody put something in the water your people in buffalo freaking out about a dusting I think getting may I think it might have been a little bit more sarcasm than actually seriousness I saw that Jim Cantore he will reach with a lot of things you know just the the videos that come from all over the world in fact there were some of the video from Italy that that came and they were getting some snow I'd I forget which part of Italy but man it was thick I mean this is this is heavy snow fall so I don't know what it's going to be like for you know the the the outlook forecast for you know different areas that expect always get snow fall I was thinking about Lake Tahoe and man over the last few years they've had some killer snow I mean incredible snow and so I wonder if they're going to get the same this year but yeah it's all the veterans enjoy the weekend and it thank you thank you so much Sir Nick thank you as you make it so we can do this yeah with no fear right none but nevertheless this comes from the security of knowing that you're protected to do this each and every day I remember somebody wrote clearly a liberal wrote saying you guys always talk about you know defending freedom and you know that the house of defending freedom men were served tuned we're so doomed house what if any Freedom House serving defending freedom yes I know I thought you meant a whole were us doing our show is I thought now okay not a I'm not so much you meant those serving yeah and if I have to tell you well you know I mean I didn't even reply to the email but I'll never forget it and and you look at a world where where Hitler want you look at it at a world where we are dominated by by people that want to control everything in our life oh wait see it's easy to understand well you know because it you know if you're a fascist dictator you know it is and and and and really the left if they did they just they they want you to believe that the Donald Trump as a dictator that he controls everything that's a it by the way that happened to with some people on the right during the Obama years well he's acting like a dictator yes and we said the same thing that we're getting now hogwash I'm AT it's if but but here's the difference though the ideas put forth by some on the left like better when I know but does not running anymore but that still has to be discussed the idea of coming to your door and taking your weapons that's a scary idea because ultimately you look at the idea of the second amendment I'm if it if you cannot defend if the people cannot defend themselves against tyranny then we will then all is lost at that point at that and when you see where they're also going on the because I think both both are critical when you see what better has said about confiscating guns in but also when you see Elizabeth Warren and where the Democrats are going there that it is time to kill what they view was make a wealth that you can't in your garage anymore because that's where they started if you look at Paul Allen and Bill Gates in their garage and create these selling books at a seller hi Shelley A. well exactly right yeah of you know were over I need to get a garage read read read about a Sam Walton yeah read about Ross Perot might let down yeah you know but read all these these people's dot biography and how they started doing all of this well I mean Warren Warren Buffett Warren Buffett artid by getting six packs of coke he would buy a six pack for quarter and he would sell each of those cans of coke for five cents making a five cent profit he would sell them door to door as a kid that's where it began but when you see the fact of the ultimate we wish to confiscate well because taking guns away and going door to door is absolutely just a quarrel believe that we are against believing in the second amendment and self you know self defense and self determination as a country right yes and and protecting the system that were under confiscation of wealth is right there with that because if you can confiscate wealth if government controls all of the capital if the ability to build a major major corporations disappears from the private sector then who's in control of it who has the power I'd rather the power always be distributed to the private sector then the government controlling it in a monopoly yeah because a private sectors you see there may be rich people but then it moves on and there's other rich people then there are people that have nothing and develop something and become rich we live in a human society that no matter what human society you live in is not perfect and is not fair I look for the one that can't be controlled by a monopoly that's what I look for I look for the free society that can't be controlled by a monopoly and is is set up to insure then a monopoly that can control my life does not exist right Amazon doesn't control my life as long as they get it to me by tomorrow right they still don't control they they what he does doesn't control my life sucker doesn't control my life with with the billions that they have no effect on me take all that wealth and give it to the government and then government at it as we have seen what happens in social societies in communist societies gets control the wealth where is the mass of oppression for ninety nine percent of the people who don't have an opportunity to experience freedom like we do and possibly get wealth beyond their wildest dreams worse this side the most put down socialist communist societies wears a middle class destroyed socialist communist society what what are the end of the most incredible thing I believe is a fact of all these you know socialism and communism it always promotes the worker always be where the political philosophy that promotes the worker instead of freedom yeah because when you see that you will find the most oppressive societies that exist out there and the size that say up nope sorry you're on your own freedom you can fail or not fail that's where you see the biggest advancements in middle class in the history of the world interesting isn't it yeah which means what monopolies of government who want control why do you well and and again at that point the people become powerless when they become when we become powerless as a society then at that point we are doomed because think about that if the government could come to your door take your weapons I have the criminal element would have such control the government would have such control you'd be defenseless against Terni criminals anything else any other threat to you your family and your property and when all the wealth is gone what freedom do you have what freedom do you really have eight six six ninety right I with.
"warren warren buffett" Discussed on Animal Spirits Podcast
"There's that's probably a pretty good opportunity for me to buy so I think we've seen some history lessons and there's a big up taken these types of illiquid markets and volume actually when there's a big recession in place in two thousand in sixty three thousand eight the amount of private equity interests the exchange hands like jumped precipitously and so I think we might see a similar analogy within our own market and if that's the case then equities end is going to do very well thank you to fill Hazlet co-founder of equities in again equity centers offering our listeners half off their first investment minimum bike onto equities N. dot com slash animal go there and you can access companies like space x an Airbnb with half off your first investment minimum again. That's equities dot com slash. Thanks very much for having me guys. Suben a few weeks ago. We were talking about how investors might not understand how the I. R. Works because their money is deployed over time. Do you think that what equities is doing on the investor. Side is a little bit different. Are they like are places investing directly directly in these companies so it's like a cash on cash return yes. I don't think there's any worry about because this isn't set up like a venture capital fund structure so this is much closer. I think too I I think this is somewhere in the middle of like a venture capital funded and owning shares in private company or a public company but I think it actually leans closer to a public company because you are buying shares ars in that individual company in you own it in the more liquid. The secondary market becomes the the easier becomes what I don't know exactly how liquid is now but it sounds like it's it's it's not as opaque as investing in something like a private equity render capital fund so they're making private public sort of you still have to be accredited investor yes but I think there is a huge opportunity for companies like this to liquefy the private markets yes in his obviously a lot of people who want to get into these things and not wait for the IPO and have a chance to get on some of these rocket ships and it'll be interesting to see you know everyone keeps. We spend all our time worrying worrying about what's going to happen during the next crash in who's going to get killed the most. It's almost like a competition point. It'll be interesting to see how this stuff does but you wonder if some of these companies that want to go public in let's say we have a recession or the stock market slows down and has a has decided bear market if some of these IPO's report on the shelf Alf if maybe some individual investors will step in and provide liquidity and maybe by these companies that lower valuations that'd be Kinda link Warren Warren Buffett. That'll be kind of an interesting test case. I think one of the really interesting things I feel sad. During the conversation was they did see a pickup in activity in private markets similar to what you see when volatility picks up in public markets yeah so I again. I think this I think we're still in the early days but I think these markets will become more and more professionalized and institutionalized institutionalize. It'll be interesting to see what comes out of this and what sort of opportunities or fun structures there are that are created within this secondary market. Well thanks again to fell household an equities end for coming on again. Go to equities dot com slash animal to check it out..
"warren warren buffett" Discussed on Awards Chatter
"Into philanthropist burstow. Do you learn do you hire staff. Which province should work on are are there are people out there too clever with and so as warren warren buffett and melinda and i were doing more and more plant be those are the three trustees the foundation we ended up getting together with other philanthropists us people like george soros oprah winfrey alight growed in her twenty or thirty who were doing lot asking them. How did they learn what inspired hired them. And what should we do. Draw more people in because our view is the plant be even though it's no substitute for government of the private sector there are are problems that even though flam to be is a small percentage of the economy that it's unique being able to go after like even an educational innovation fund some new ideas that when they work could improve the entire system and so the idea that people were sure spot philanthropy should make a public pledge and get together and talk to each other talk about what's hard how to make it impactful enjoyable that became the giving pledge and that's been a phenomenal success. We have over two hundred people and i spend a bit of time recruiting people in because i think it helps them do better philanthropy and do it sooner you mentioned the challenge of figuring out where to direct philanthropy at the beginning where you know what are there so many people that and organizations that need help. What do you want to focus on. It seems like when you you stop working fulltime microsoft and began traveling more with your wife often to poor countries those issues again to become undeniable to you the some of the things that you've taken on at the foundation that other organizations other governments people just have sort sort of avoided just to give a little taste of what's in the series wire whether it's sanitation issues or vaccinations for in in some of these third world countries. Why did those become your top priorities. Well the impact you can have per dollar import. Our country is kind of mind blowing. You have children over twenty percent of the children under the age of five in some countries and there are cheap vaccine's. If you get them out you can drop that very dramatically now. We're not loading that governments are involved in getting organized around these new tools and how you you do a better job getting them out. Since two thousand we've gone from mm over ten million children dying every year to under five million and everybody involved including the governments and the foundation keys should be energized by that. We have a plan by working together to get from five million down to two and a half million by twenty thirty so that's gone way ed better than we expected and saving lives for literally hundreds of dollars. There are very important things like improving education russian that we give to in the united states but you're you're not going to have that that same impact all right one of the things that i know it was important to you is to measure how effective different constantly measure how effective these tactics are are. They working at achieving what you set out to do. Can you share some of the ways that you evaluate how often you evaluate progress well. The the number of children dying was known pretty roughly but if you got into a country or try to figure out which disease it was even that data was pretty weak and in the private sector the idea of okay. How many my selling how many's might competitor selling you can't take for granted that you're making decisions. Susan based on a lot of data we had to help a partner create this global burden of disease to gather the data and and really figure out okay how much was diarrhea or was it going up or down in various countries so now we have this amazing international health metrics and evaluation relation that every year updates that so we can see what's going well. What's not going well so the measurement piece is often the the first thing you need to put in place so that you're able to get feedback into that system and say okay. Why is this country doing so well compared. Did this other country or why is this. Disease is a big part of the problem..
"warren warren buffett" Discussed on The Jason Stapleton Program
"Make. That's a lot better headline. Oh attributed to luck and he's underperforming and so you know the question is how long is he going to underperform right. Here's the difference okay eh. He invests differently than virtually anybody else on the street so he views all stocks like a bond. He doesn't invest in anything that doesn't have at least a tenure track record and he looks at the total return dividends paid and looks at it as as as though he's he's buying a bond rather than buying stock and as the economy begins to go into it's red hot and the stock doc market rises in prices rise all of a sudden when he does his analysis it doesn't make good financial sense to own stocks anymore and so what he does is he start selling off position and putting cash in place so seawall everybody else's riding the wave up and is running being this gauntlet that they believe is never gonna end brookshire hathaway. Warren buffett are slowly selling off positions now. Why is this important to reasons. Isn't it means in the last few years of every market boom berkshire hathaway underperforms because they're not invested. They're starting removed cash because they recognize that the p._e. Ratios and the other metrics that they use to value stocks are out of line and in in warren warren buffett's mind. They're no longer worth investing in when you to wait until stocks get cheaper then guess what happens then we get a massive market. It collapse course berkshire. Hathaway's heavily weighted in cash at the time so they don't see the rapid change in price that other stocks than other indices might see and then guess what happens now win bank of america's trading two dollars a share he comes in buys up a massive asa position saves the day because he has cash on hand to do it the very way that he invests is different and so the metrics tricks that other people look at begin to become skewed when they look at berkshire hathaway and when they look at warren buffett when in reality what is what is he doing. He's east st saying this for years but he says is his investment plan for his wife when he dies is for her to invest ninety percent of her money in an index fund and ten percent in bonds now. Why does he say that he actually gives that same advice to every single person he runs into anybody who offers who asks asks him for advice on how to invest he says put it in an index fund because year-over-year month over month you're going to make steady consistent assistant gains in that index fund if you just stay invested in it what he's really saying is if you are not wholly and completely committed committed to becoming a professional investor best you just put it in an index fund because your odds on getting an ab- and getting eating in above average return above that index fund is almost zero you see his wife doesn't know anything about investing and so if he's going to set her up for success for the rest of her life going to set up his children for success and index fund is the right place for them to be. They'll get steady returns year over year..
"warren warren buffett" Discussed on No Agenda
"Now. This is the only interview where he broke down when he got to this point point. He said the same thing it's like he in his mind the information he has has we'll stop the division that we have in america and with that <hes> democrat republicans and trump clinton specifically that divide is what he's talking about and he he he he really broke down that was truthfully broke down as like <hes> i feel very bad and somewhat responsible because and this is why i have to tell the story which is once. We understand the story why it'll be buried feel a responsible so i have to come forward. I went to see my rabbi and my lawyers right. Do you know who's rabbi is john. This was a very awkward moment. As if everyone knows who is rabbi is he's not ah. I don't even know if he's jewish but his rabbi is someone else who my rabbi david <hes> tell us tell us patrick how put this guy in omaha warren buffett and he mentioned buffet in a different interview so he has this information he goes to warren buffett his rabbi. Say what am i gonna do with this information and he said patrick you come for his eat a you can't let this sit with the feds. Let the feds do their job. You have to come divorced american people so i am i never heard of the guy i only figured out last summer who who had sent me these these requests peter struck and dan he was doing on behalf of three officials undecided identifying now x y and z identify they weren't named to me and i've identified them to the into law enforcement now just for the troll room warren buffett is not actually a rabbi okay. I think it's of speech he's he's go-to guy when he has questions like a spiritual leader so warren buffett is a hillary clinton supporter so why does warren warren buffett want patrick byrne to come clean with this because he has information that the fed's spied on trump that the feds and by the way this goes back a year before the official fed spying timeline f._b._i. Spying timeline that goes back to two thousand fifteen and it was cruz and rubio but the true reason this has to come out is not something trump or bar or anybody else wants the world to know which is why this guy is going away and here's the reason y i believe there's a massive federal investigation that is going to turn up that there was political espionage conducted through a number of different venues you against hillary clinton and against rubio cruz and trump i know for a fact i know other people who are involved. That's what really happened and my rabbi said you can't go another. You have to do this right now. People were killing each other. That's this is my sorely agreement. There's people smoking or whatever so buffet finds out from patrick byrne that they were spying on hillary clinton as well. This is not the way the message is supposed to go. This is worse than we ever thought. The messaging is supposed to be the clintons paid for research against donald trump. They had all these people colluding. They all got in there. They tried to stop them from winning and then they tried to stop him tried to get him out of the presidency zeevi. We can't have all of a sudden that really the f._b._i. And the c._i._a. Or just completely out of control and they wanted to manage the entire higher election process and that's why bill bar and i'm really you look at bill bar man. This guy is cleaning some shit up. He's he is cleaning up shit. Uh not not for good. He's he's hiding stuff. He's protecting people. No no no. I'm not all in. I'm bill bar being the great savior..
"warren warren buffett" Discussed on The Tai Lopez Show
"What do I say I want? mm-hmm here my garage new Lamborghini perfect. I love it so speaking about Social Media Instagram snapchat. It's obviously use youtube but we're instagram snapchat fall into it and what would you tell someone who wants to get into that really wants to get into that curve is going on right now. So I think instagram is slowly dying wine facebook and away mixed feelings on facebook. Pardon me wants to say it's already dead another part. Thanks it's very vibrant. Aw snapchat is not dead but still a window although it is closing quickly you too is still there but getting eating harder. Here's the thing for social media more important in which platform it's what you post and social media it tells the truth. It's a little bit like time and so if you're not innovative if you're not committed to lifelong learning if you're not reading if you're not coming to conferences like this and stay on the cutting edge it'll show real quick in your social media. It'll get boring and then no amount of gimmicks and tricks and here's how you post then caption and it should be four hundred word than Tuesdays the best data post and you should post at eleven A._M.. And all that Bullshit Trust me you post a good post. I post post at two two A._M.. On a Saturday theoretically the worst time it outperforms everything it was not deterred. Excuse Polish absurd and social media will not Polish attorney in fact social media just takes a turn and sticks it in everybody's face and it didn't take long a a lot of people stop following you so social media just an extension of what you're already doing and it's a great one to use because it'll show you're blind spots. It'll show your weaknesses. It'll show you where you're not innovating. It'll show you when you're boring. Try to write seven twitter posts today. It's a great little exercise twitter or is somewhat dying but try to post seven interesting things day on twitter. Now I read a book day and sometimes I'm like this is hard. A Guy who twitter king taught me that some eighteen year old kid millions of followers. He's tire follow you. I'll give you the best tip post seven times a day and that starts showing you other weaknesses. You have other areas of your life. You can't post that much on business because it all starts looking cliche. Could you're not really innovating. You're not really like Warren Warren Buffett reading eight hundred pages a day and by the way you don't have to read eight hundred pages a day but if you don't read eight I'm happy for you to compete with me..
"warren warren buffett" Discussed on Bloomberg Radio New York
"During our masters in business live event earlier this year at the Bloomberg world headquarters in New York. We had an in-depth conversation about a life spent in finance where we are in the cycle of the market today. He's investing opinions his books and so much more on between. We left talking about the theme of the chairman memos, and we continue to discuss them here along with the funny story about his father. As I said in the memo. Well, people used to say the great thing about this company is that it's costs are almost zero. And I wrote well, that's great because its revenues are absolutely zero. You know, and I quoted my dad who was a big joke teller, and he said that the two guys were talking one guy says everything I sell I sell it cost. He said, well, how do you make money? He's why below cost, but the, but the internet business model at that time seem equally irrational, and yet the stocks were selling it sky, high prices, and of course, and as I said in a in a memo, which which reviewed this progression later, you know, in my first thirty years in the business after a bubble pop. We would see a table in the upper right hand corner of the journal, and they show all the stocks that were down ninety percent remember and then with this. They showed all the socks were down ninety nine percent or more. And so the bubble popped the memo Looksmart, I said in the introduction to my first book after ten years, I became an overnight success, and that's the story. So so let's talk about that first book, which is the most important thing uncommon sense for the thoughtful investor you're writing these memos on a Iraq irregular basis. What motivated you to say? I know let's let's now spend three hundred pages and a year writing a book that was simple. I got a letter from Warren Warren Buffett saying saying if you know, I wrote a memo. I forget which one it was which was right up his alley and I wrote him afterwards. And I said that you see this what he says. Yeah. So it was fine. And he says, by the way, if you'll write a book a quote for the Jack. Now, some blurb Nuff said, right? And you know, you don't pass that one by. No. So I had always thought that I would write a book pulling the philosophy together when I retired. And instead it got it got accelerated, what was the experience of writing a book like it was great. You know? For me. The challenge is not to think what to say. The challenge is to get it from here to there. You know, your thoughts are coming so fast. You're frayed. They're gonna evaporate. You have to sit there and yet. So so let's talk about some of those thoughts which I've pulled from both books. Quote. We can make excellent investment decisions on the basis of president observation with no need to make guesses about the future. Right. Doesn't that run? Kind of contrary to have lots and lots of people invest their capital. Yeah. I mean, the the the irony is that what is what is investing investing is positioning your capital to profit from the future that unfolds? And yet in my book, we can't know what the future holds. So I an oak tree through its investment philosophy specifically as chew macro forecasts. And I don't believe we ever know enough about the coming economy markets currencies and interest rates to make us a successful superior investor. It's very hard to hold the view, which is different from the consensus, and it's very hard to have a non consensus view, which turns out to be more correct than the consensus. And so so I don't believe in forecasts. Now, everybody says, but the macro is so important. It's the macro that moves the markets these days, and it it truly does feel. Let's say for the last fifteen or twenty years that yes. The the macro is much more important than company knows. In moving the market. So they say, well, how can you? How can you not do? Macro forecast. Eight I was sitting having dinner with Warren, you know. That that one a few years ago, and he said to me for a piece of information to be desirable. It has to satisfy two criteria. It has to be important. And the macro is extremely important, and it has to be knowable. So you can have something which is very important. But if you spend your time trying to figure it out it could be a waste of time. If it's not knowable, and I believe that the macro future is not knowable. So that was a little bit of our conversation with Howard marks discussing the dinner, he had with Warren Buffett, and how one can tell that a piece of information is knowable when we continue our conversation Howard marks co-founder co-chairman of oaktree capital discusses his first book, the most important thing..
"warren warren buffett" Discussed on Bloomberg Radio New York
"For this. Good Friday masters in business special. We have a guest Howard marks. It was my honor and privilege to interview him during our masters in business live event earlier this year at the Bloomberg world headquarters in New York. We had an in-depth conversation about a life spent in finance where we are in the cycle of the market today. He's investing opinions his books and so much more in between. We left talking about the theme of the chairman memos, and we continued to discuss them here along with the funny story about his father. As I said in the memo. Well, people used to say the great thing about this company is that it's costs are almost zero. And I wrote well, that's great because its revenues are absolutely zero. You know, and I quoted my dad who is a big joke teller, and he said that the two guys were talking one guy says everything I sell I sell it cost. He said, well, how do you make money? He's why below cost, but, but the, but the internet business model at that time seem equally irrational, and yet the stocks are selling sky, high prices, and of course, and as I said in a in a memo, which which reviewed this progression later, you know, in my first thirty years in the business after a bubble pop. We would see a table in the upper right hand corner of the journal, and they show all the stocks that were down ninety percent remember and then with this. They showed all the socks were down ninety nine percent or more. And so the bubble popped the memo Looksmart, I said in the introduction to my first book after ten years, I became an overnight success, and that's the story. So so let's talk about that I book, which is the most important thing uncommon sense for the thoughtful investor you're writing these memos on a Iran irregular basis. What motivated you to say? I know let's let's now spend three hundred pages and a year writing a book that was simple. I got a letter from Warren Warren Buffett saying saying if I wrote a memo I forget, which one it was. Which was right up his alley and wrote him afterwards. And I said that you see this one. He says, yes. Aw, was fine. And he says, by the way, if you'll write a book, I'll get a quote for the Jack. Blurb Nuff said, right? And you don't pass that one by. No. So I had always thought that I would write a book pulling the philosophy together when I retired. And instead it got it got accelerated, what was the experience of writing a book like it was great. You know? For me. The challenge is not to think of what to say. The challenge is to get it from here to there. You know, your thoughts are coming so fast, your frayed. They're gonna evaporate. So you have to sit there and yet. So so let's talk about some of those thoughts which I've pulled from both books. Quote. We can make excellent investment decisions on the basis of present observation with no need to make guesses about the future. Right. Doesn't run kind of contrary to have lots and lots of people invest their capital. Yeah. I mean, the the irony is that what is what is investing investing is positioning your capital to profit from the future that unfolds? And yet in my book, we can't know what the future holds. So I an oak tree through its investment philosophy specifically as chew macro forecasts. And I don't believe we ever know enough about the coming economy markets currencies and interest rates to make us a successful a superior investor. It's very hard to hold the view, which is different from the consensus, and it's very hard to have a non consensus view, which turns out to be more correct than the consensus. And so I so I don't believe in forecasts. Now, everybody says, but the macro is so important. It's the macro that moves the markets these days, and it it truly does feel. Let's say for the last fifteen or twenty years that yes. The the macro is much more important than company knows. In moving the market. So they say, well, how can you how can you not do macro forecasting? I was sitting having dinner with Warren, you know, that that one a few years ago, and he said to me for a piece of information to be desirable. It has to satisfy two criteria. It has to be important. And the macro is extremely important, and it has to be knowable. So you can have something which is very important. But if you spend your time trying to figure it out it could be a waste of time. If it's not knowable, and I believe that the macro future is not knowable. So that was a little bit of our conversation with Howard marks discussing the dinner, he had with Warren Buffett, and how one can tell that a piece of information is knowable when we continue our conversation Howard marks co founder and co chairman of oaktree capital. Discusses his first book the most important thing. And how that came about courtesy of a suggestion from none other than Warren Buffett. You're listening to masters in business with Barry ritholtz on Bloomberg radio. What would you say about the firm that supports your advisory practice? I love that. I can.
"warren warren buffett" Discussed on Bloomberg Radio New York
"I'm Barry ritholtz. You're listening to masters in business on Bloomberg radio. Let's go back to our conversation. With Howard marks recorded earlier this week for our masters in business live session at the Bloomberg headquarters where he discusses how he became interested in writing about markets, the origin of the chairman's memos and the books. He's written. So let's talk about the chairman's memos which you're somewhat infamous for. I'm going to quote, Warren Buffett when I see memos from Howard marks in my mailbox that the first thing I open and read I always learn something tell us what led you to publishing the chairman's memo's when did they start? And why did you feel the need to write them? They started in one thousand nine hundred. So this is the thirtieth year bachelors and thank you. And I don't remember. Thinking that if I wrote him I get more business or anything like that. There were two events that happened in my environment. The juxtaposition of which was I thought extremely informative. And so I wanted to write it up and share with my clients now is all. And and you're you're well known for them today buffet had has lauded them and other people have talked so. Approvingly of them. But when you first started publishing, these what was the response like big fads zero zero literally Barry. There. It was ten years before I ever had a response. Not only did nobody say, oh that was good. Nobody ever said. I got it. So it was you know, this is this was an Email. This was that's right. This is the day of running the Xerox machine folding up putting them in envelopes addressing I'm putting stamps on. And then as far as I knew tossing him down this sore. Because I never had a response for ten years for Dan. So so I kind of remember what made me, right? The first one have no idea what kept me going. So you said there's no response for a decade. That response though, I very specifically. Remember that one because barons that a giant cover on it? Bubble dot com right in January two thousand and only were you right? But the timing couldn't have been any better. Tell us about that particular, chairman's Burke. Well, of course in our business. It doesn't do any good to be right. If the timing is not good. You know, there's an old saying in our business that being too far ahead of your time is indistinguishable from the wrong published the same inside in one thousand nine hundred seven. I'd be forgotten because it would've taken three plus years to work. It happens. It only took a few months to work, and basically the premise of the menu a memo was that the EMT tech media telecom bubble that had been pushing stocks up for the last few years of the nineties and into two thousand was overdone the subject of excessive optimism and excessive faith in the future and entirely free of any kind of analytical or valuation rigor. You know? I mean, we're used to paying fifteen times earnings for an average company, and maybe thirty times earnings for what we think is a great company. But how do you a company that has no earnings? Hold on how a company that has no sales. You know? I mean, you were valuing an idea and people were you see and in the investment business. There's a tendency to. Succumb to platitudes generalizations. And so what was going on in ninety eight ninety nine was the internet will change the world. And as a consequence any stock, which is internet or? Ecommerce related is the right price is 0. There's and as I say in the bulk can I say in the book, okay, slight slap slug. But as I say in the book, if you want to understand bubbles to me, the defining characteristic of bobble is the belief that quote, there's no price too high. If it's if it's an internet stock, there's no price too high. If there was the nifty fifty back when I started in nineteen sixty eight Xerox Kodak, Merck lily, no price too high. And of course, it's obvious that everything there is no there's nothing. So that it can't be overvalued. And if you buy something at a price, which is excessive for its merits by. It's done. Require magic to make it into a successful investment. So that was the theme of the memo I talked about I talked about businesses. And by the way, we still see some today, which which don't have a profit plan and companies that. As I said in the memo. Well, people used to say the great thing about this company is that it's costs are almost zero. And I wrote well, that's great because its revenues are absolutely zero. You know, and I quoted my dad who is a big joke teller, and he said that the two guys we're talking one guy says everything I sell I sell at cost. He said, well, how do you make money? He's why below cost, but, but the, but the internet business model at that time seem equally irrational, and yet the stocks were selling sky, high prices, and of course, and as I said in a memo, which which reviewed this progression later, you know. In my first, thirty years in the business after a bubble popped. We would see a table in the upper right hand corner of the journal, and they all the stocks that were down ninety percent remember and then with this. They showed all the socks were down ninety nine percent or more. And so the bubble pops the nemo Looksmart I said in the introduction to my first book after ten years, I became an overnight success, and that's the story. So so let's talk about that first book, which is the most important thing uncommon sense for the thoughtful investor you're writing these memos on a regular basis. What motivated you to say? I know. Let's let's now spend three hundred pages and a year writing a book. I was simple. I gotta. Letter from Warren, Warren Buffett saying saying if I wrote a memo. I think I forget which one it was. Which was right up his alley and wrote him afterwards. And I said see this one he says, yes. So it was fine. And he says, by the way, if you'll write a book, I'll give you a quote for the jacket, not Nuff said, and you don't pass that one by now. So I had always thought that I would write a book pulling philosophy together when I retired. And instead it got it got accelerated, what was the experience of reading a book like it was great. You know for me the challenge is not to think of what to say. The challenge is to get it from here to there. Your thoughts are coming so fast, your frayed. They're gonna evaporate coming up. We continue to play parts of my conversation with Howard marks recorded earlier.
"warren warren buffett" Discussed on Masters in Business
"The defining characteristic of a bubble is the belief that quote, there's no price too high. If it's if it's an internet stock, there's no price too high. If there was the nifty fifty back when I started nineteen sixty eight Xerox Kodak, Merck lily, no price too high. And of course, it's obvious that everything there is no there's nothing so good that it can't be overvalued. And if you buy something at a price, which is excessive for its merits by gonna. Gonna require magic to make it into a successful investment. So that was the theme of the memo, you know, I talked about I talked about businesses. And by the way, we still see some today, which which don't have a profit plan, you know, and companies that as I said in the memo, well, people used to say the great thing about this company is that it's costs are almost zero. And I wrote well, that's great because its revenues are absolutely zero. You know, and I quoted my dad was a big joke teller, and he said that the two guys we're talking one guy says everything I sell I sell it cost. He said, well, how do you make money? He's why by below cost. But but the, but the internet business model that time seem equally irrational, and yet the stocks were selling sky, high prices, and of course, and as I said in. In a memo, which which reviewed this progression later, you You know. know in my first thirty years in the business. After a bubble pop. We would see a table in the upper right hand corner of the journal, and they show all the stocks that were down ninety percent remember and then with this. They showed all the socks were down ninety nine percent or more. And so the bubble pops the memo Looksmart, I said in the introduction to my first book after ten years became an overnight success, and that's the story. So so let's talk about that I book, which is the most important thing uncommon sense for the thoughtful investor you're writing these memos on Iraq regular basis what motivated you to say. I know let's let's now spend three hundred pages and a year writing a book. I was simple. I got a letter from Warren Warren Buffett saying saying if I wrote a memo. I think I forget which one it was which was right up his alley and wrote him afterwards. And I said did you see this one? He says, yes, all it was fine. And these by the way, if you'll write a book give you quote for the jacket. Now, some blurb Nuff said, right? And you know, you don't pass that one by. No. So I had always thought that I would write a book pulling the philosophy together when I retired. And instead it it got accelerated what was the experience of running a book like. It was great. You know? For me to challenge is not to think of what to say. The challenge is to get it from here to there. You know, your thoughts are coming so fast, your frayed. They're gonna Vappu rate results that you have to sit there and yet. So so let's talk about some of those thoughts which I've pulled from both books. Quote. We can make excellent investment decisions on the basis of present observation with no need to make guesses about the future. Right. Doesn't that run? Kind of contrary to have lots and lots of people invest their capital. Yeah. I mean, the the irony is that what is what is investing investing is positioning your capital to profit from the future that unfolds? And yet in my book, we can't know what the future holes. So I an oak tree through its investment philosophy specifically as chew macro forecasts. And I don't believe we ever know enough about the coming economy markets currencies and interest rates to make us a successful a superior investor. It's very hard to hold a view, which is different from the consensus, and it's very hard to have a non consensus view, which turns out to be more correct than the consensus. And so I I don't believe in forecasts. Now, everybody says, but the macro is important. It's the macro that moves the markets these days, and it it truly does feel..
"warren warren buffett" Discussed on Wall Street Oasis
"And then you go into the investing world. I mean, that's like a very clear transition, Dan. But I'm sure during the middle of it when you're in the weeds of it, as you said, you didn't like all these things you probably hate it a lot of these things. But as long as you're learning. It all kind of progressed. Well. You think you summed it up pretty well. Yeah. I had another venture investor on the podcast recently. He said we're all going to be living till we're one hundred years old. How long has your career going to be sixty years? That's a long long long time to think about a four year period for you and consulting to think about that as Owen my doing the right thing am I on the right path. That's it's crazy to look at a two three four five year period on a sixty year career as as not being quite aligned with what you want to be doing similar to what Warren Warren Buffett says as long as you're learning take the job where you're gonna learn the most that's the that's the important thing. Absolutely. And he sometimes it's important to learn what you don't like as it is to learn what you do like, and there's really no way to know without taking the jump. So you've gotta jump somewhere. And you know, if you don't like where you are. I guess my advice would be figure out everything you've learned lay it out, and then make move somewhere else that seems to be better suited for what you wanna do. And what you don't want to do. And even if it's not even if you jump into a job is not perfect, and you have some additional frustrations and aggravations and irradiation's about it and feel like you need this yet to another thing. That's fine. It's I think it's you know to your point and the sixty year career, you're gonna have a there's going to be a step ladder. Then you're gonna go. Oh, I don't want to make it sound. Like, you're from one run to the next as though you're going higher up the corporate ladder per se because the in that certainly is not not something that I would. Necessarily advocate, but it's it's going up your own personal ladder of learning actualization and understanding of who you are. And what you're about. And what makes you happy, and what doesn't, but there's no way to know that without being in the mix, I think sometimes people agonized too much about whether they should take this job or that. And you just make your move. And and and it all becomes a lot more clear either way. Even if he made the wrong choice in some ways, you could say it was the right choice because because of that because you learned what you don't want. And what you do what you again correspondingly do want, right. Yeah. So there's going to be learnings from from from whatever. Yeah. I agree. Okay. So. I mean, being a you have you've had very enviable positions. You've been CEO of big company that huge exit. Now, you're a venture investor blue chip fund, you're the first institutional investor in lending club. But as you say, it's not all green pastures. I'm sure every one of these your current job your last job there's aspects of them that you don't like that. You don't like, that's that's what work is. Absolutely. And even in look in in my current job, which I do love is still one where I am more of a coach than a player, and I some level earlier in my career. I don't think I would have been particularly happy with that. But I feel like I've had a great run in terms of being a player, and that one of the things I actually enjoy a lot about the the business that I'm in is the ability work with multiple entrepreneurs and share hopefully, the benefit of my experience that I've had coming up and doing lots and lots of different kinds of things.
"warren warren buffett" Discussed on The NFL Show
"To have how to have speed within the within the game and i think guys that have played different sports and and understand how to play whatever game that they're playing it it's just a different level of skill set that goes into it it's not all about measurable 's it's you know speaking of all the nba draft this coming up it's not all about measurable is not all about your shuttle time or whatever it is about what you do in the context of a game and that's why someone like donovan mitchell may not have the you know the best measurable 's last year at the nba draft but you watch them play the game of basketball and you know he knows how to do things and he knows how to use what he has and the skills that he has to to be a superstar so that's always good news and let's talk about we we have the the summertime obviously we're on summer vacation a lot of people are you know trying to figure out what they want to do in this dead period of sports obviously the nba draft once that's over we really hit the dog days of summer but you have some recommendations for what coaches should do on their summer vacation i think i learned this a long time ago henry kissinger senator's memoirs when you go to washington you bar on the intellectual power you bring you can't renew it once you're there and the nfl is a little bit like that if you're an assistant coach like my son's or anybody eat oh this next four weeks of probably the only time you're going to develop and grow yourself as a person as a father as a husband as anything as a leader in all those things and you got and the only way to do it is to read you know i mean warren warren buffett reached five hundred pages of bay i mean he's got a lot of time to read but he reads it i mean he makes time to read an hour a day two hours a day george raveling one of my heroes of all time i've talked to you about coach wrath if anybody wants to learn about coaching follow coach raveling newsletter every week it comes out every saturday morning fabulous men reads all day long.
"warren warren buffett" Discussed on The Tony Kornheiser Show
"Where are you physically will let's see him i am in omaha nebraska which is known to ask capital the mid west i mean that you could just go downtown and stand there and say scream out ascott and fifteen people come over to you with one warren warren buffett buffett buffet buffet has lot of go door to door just borrow one i think i think it's great idea all right so let me get to basketball briefly i had to eat a lot last yesterday about dwayne wade i really did 'cause i call them the ghost dwayne wade and i had said that philadelphia is going to win that series in four or five and i got crushed and justifiably 'cause wade had twenty eight points and wait played great he did and i didn't think he had it in them anymore and then yesterday and some lame defense i said well let's see him do it again and maybe he will what where do you think that series is going few miami well you know miami is there tricky team that you know they're really not that talented you know if you if you go down the roster there's nobody on that route you're like oh my god that guy's the difference maker and they play stupidly a stupid number of close games they had i think nineteen games this year within one possession at the end let means that one other four games came down to the last second blessed shot and so i expected this series to be close because miami plays close games and embiid wasn't one hundred percent so i'm not surprised at all one one but you are not alone in thinking that with about dwayne ways in fact there were times when i think eric's both talk that way because wade playing time really dwindled towards the end of the season i think dwayne thought oh they're saying before the playoff and then game one dwayne didn't play that much and i don't know this i think wayne is kinda looked in the mirror here this could this could be.
"warren warren buffett" Discussed on Pat Gray Unleashed
"No way in america is jackie chan cup popup number three i'd tell you i'd put him above the last ones you just read at number four get this gijon ping the guy who just became dictator for life in china the fourth most admired person in the world jack ma again heavy asian influence jack ma is in a chinese billionaire that nobody's ever heard of he was never five at number six this boggles my mind vladimir putin is the sixth most admired man in the world scary that's frightening at number seven is the dalai lama number eight narendra modi or modi emme tob buck sean toll number nine so glad because if you give talked about amish dob i i don't know person all time i was fired a practically loved and revered is cristiano renaldo there's a name i understand he's soccer player he's number ten lionel messi i think in nother soccer player i'm gonna say is number eleven how did warren buffett become the twelfth most admired person his secretary probably took part in this because you know she makes so much more he pays her more yeah pays himself so i'd probably vote for around here we refer to warren warren buffett is warren fat piece of crap buffet text me more buffet david beckham number thirteen of soccer stars elon musk i can understand that number fourteen michael jordan after all these years michael jordan still in top fifteen then and i think this says a little something about this particular keith.
"warren warren buffett" Discussed on WBSM 1420
"Do that so now she wants a pass on the law what is she an illegal alien how does how does she get a pass on the law she's for merrimack twenty five miles south of clunker the winning ticket was sold at the reeds ferry market in that town for the january sixth dry five hundred and sixty million guy god bless her for winning the winning it but i don't know why she doesn't have to follow the same rules as everybody else network newscasts last night we told you about the house intelligence committee saying that there is no russian collusion which we all knew all along anyway guess what the the the liberal media is apparently angry that the not collusion has been found cbs evening knows how much you know how much they gave to at last night steve thirty one seconds thirty one seconds that's that's the that's hosted by jeff galore you've never heard of him i never heard of either i read i read the once he used to work at channel seven here in boston let's see here now how much did the other ones do it abc's world news tonight the over under is twenty five seconds steve do you want the over or the under oh i'm gonna take yonder twentyseventh seconds it's a really simple topic so it's easy to cover twenty seven seconds you know like a fire or car accident so let's see so i guess so i guess at least the nbc gave zero so the three networks together cave at fifty eight seconds so that works out the nineteen seconds per the little over nineteen seconds per per network while the nbc nightly news completely ignored the findings by the house intelligence committee they've managed to find time to whine about president trump's school safety plan being light on gun control a powerball winner that's the new hampshire story and the billionaire warren buffett's onemilliondollar march madness bracket channel and they wonder why they following behind abc world news tonight with those exciting stories about warren warren buffett said he'll give him he'll give a million or five million a year for the rest of their lives to any employee of his that can come up with the all the right picks in march madness up to the final sixteen so how.