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The Isolated Blurt Thread IV: A New Hope

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I always feel unbearably guilty whenever I have to reject someone. I've been on the pointy end of that stick myself too many times to ever be comfortable with what essentially amounts to discarding someone. Like I'm so special? Who the fuck am I? That anyone, upon seeing my lovely little rainbow of fuckeduppedness, should be interested in me, I should pounce on them, sink my teeth in and cling for dear life like a fat man on a Christmas ham.

This shit is so not worth it.
 
Finally have my own computer again, with my own settings and bookmarks. So much stress relief. Borrowing time on Mrs Rug's laptop just wasn't working for me.
 
Doc Martin wedding episode-

6th Series!

Episode No. 39
Series No. 1

"Sickness and Health"

(Aired on September 2013, before us Yanks bought the right to watch it. Next week. yay)
 
Ronald Howard (son of Leslie Howard) as Holmes and Howard Marion Crawford as Watson-
"The Case of the Cunningham Heritage" 1954

I like the start of this series, very much.
(It will be more painful, than usual, when he goes downhill. He is more sensitive, more refined. Far fall, off of a higher horse.)
 
A rare trifecta this morning: Burnt bacon, burnt eggs, burnt toast.

Nowhere to go but up today.
 
gotsnowgotslush said:
Ronald Howard (son of Leslie Howard) as Holmes and Howard Marion Crawford as Watson-
"The Case of the Cunningham Heritage" 1954

I like the start of this series, very much.
(It will be more painful, than usual, when he goes downhill. He is more sensitive, more refined. Far fall, off of a higher horse.)
Click to expand...




...and so on the afternoon of June 4...

That day, a German spy at the Lisbon airport reported to his superiors that a thickset man smoking a cigar had been seen boarding a commercial flight, another flying boat, destination London. Phone calls were made, German fighter aircraft scrambled. The hapless aircraft was shot down over the sea, killing all fourteen passengers, including the popular screen actor Leslie Howard...​

-William Manchester and Paul Reid
The Last Lion: Winston Spencer Churchill, Defender of The Realm 1940-1965
New York, N.Y. 2012.
​



 
girlsmiley said:
Sounds like something a man leading a comfortable life in America would say.

Different upbringing, different culture, different money, different lives.

Some people aren't living in the America you're living in, Byron.
Click to expand...
I'm living in the Great State of California, and to be entirely honest, I don't see how you have any way to tell me about where I live or about my culture.

We have people here from everywhere. And maybe there's some truth there. Because California's been ahead of the rest of the States for a while...

And, yes. Perhaps you're right.

It might be that I was born in a State where color didn't matter, before that became fashionable for the rest of them.

And I remember Samuel R. Beckett... talking to his guys, China Beach... how the Grim Reaper didn't care about color.
 


A brief excerpt from the Letter To Shareholders contained in the 2013 Berkshire Hathaway annual report:





  • ...If you can enjoy Saturdays and Sundays without looking at stock prices, give it a try on weekdays.
  • Forming macro opinions or listening to the macro or market predictions of others is a waste of time. Indeed, it is dangerous because it may blur your vision of the facts that are truly important. (When I hear TV commentators glibly opine on what the market will do next, I am reminded of Mickey Mantle’s scathing comment: “You don’t know how easy this game is until you get into that broadcasting booth.”)


...Stocks provide you minute-to-minute valuations for your holdings whereas I have yet to see a quotation for either my farm or the New York real estate.


It should be an enormous advantage for investors in stocks to have those wildly fluctuating valuations placed on their holdings – and for some investors, it is. After all, if a moody fellow with a farm bordering my property yelled out a price every day to me at which he would either buy my farm or sell me his – and those prices varied widely over short periods of time depending on his mental state – how in the world could I be other than benefited by his erratic behavior? If his daily shout-out was ridiculously low, and I had some spare cash, I would buy his farm. If the number he yelled was absurdly high, I could either sell to him or just go on farming.


Owners of stocks, however, too often let the capricious and often irrational behavior of their fellow owners cause them to behave irrationally as well. Because there is so much chatter about markets, the economy, interest rates, price behavior of stocks, etc., some investors believe it is important to listen to pundits – and, worse yet, important to consider acting upon their comments.


Those people who can sit quietly for decades when they own a farm or apartment house too often become frenetic when they are exposed to a stream of stock quotations and accompanying commentators delivering an implied message of “Don’t just sit there, do something.” For these investors, liquidity is transformed from the unqualified benefit it should be to a curse.


A “flash crash” or some other extreme market fluctuation can’t hurt an investor any more than an erratic and mouthy neighbor can hurt my farm investment. Indeed, tumbling markets can be helpful to the true investor if he has cash available when prices get far out of line with values. A climate of fear is your friend when investing; a euphoric world is your enemy.


During the extraordinary financial panic that occurred late in 2008, I never gave a thought to selling my farm or New York real estate, even though a severe recession was clearly brewing. And, if I had owned 100% of a solid business with good long-term prospects, it would have been foolish for me to even consider dumping it. So why would I have sold my stocks that were small participations in wonderful businesses? True, any one of them might eventually disappoint, but as a group they were certain to do well. Could anyone really believe the earth was going to swallow up the incredible productive assets and unlimited human ingenuity existing in America?


...If “investors” frenetically bought and sold farmland to each other, neither the yields nor prices of their crops would be increased. The only consequence of such behavior would be decreases in the overall earnings realized by the farm-owning population because of the substantial costs it would incur as it sought advice and switched properties.


Nevertheless, both individuals and institutions will constantly be urged to be active by those who profit from giving advice or effecting transactions. The resulting frictional costs can be huge and, for investors in aggregate, devoid of benefit. So ignore the chatter, keep your costs minimal, and invest in stocks as you would in a farm.


My money, I should add, is where my mouth is: What I advise here is essentially identical to certain instructions I’ve laid out in my will. One bequest provides that cash will be delivered to a trustee for my wife’s benefit. (I have to use cash for individual bequests, because all of my Berkshire shares will be fully distributed to certain philanthropic organizations over the ten years following the closing of my estate.) My advice to the trustee could not be more simple: Put 10% of the cash in short-term government bonds and 90% in a very low-cost S&P 500 index fund. (I suggest Vanguard’s.) I believe the trust’s long-term results from this policy will be superior to those attained by most investors – whether pension funds, institutions or individuals – who employ high-fee managers...



​
Click to expand...

-Warren E. Buffett © 2014​


 
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