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    Thursday, January 4, 2018

    Would anyone be interested if I did a chapter review of The Intelligent Investor every few weeks? Investing

    Would anyone be interested if I did a chapter review of The Intelligent Investor every few weeks? Investing


    Would anyone be interested if I did a chapter review of The Intelligent Investor every few weeks?

    Posted: 03 Jan 2018 06:22 AM PST

    I got 7 chapters into the Benjamin Graham masterpiece (revised edition), but things came up in the year and I think I'm going to start from scratch.

    Last time, I read the chapters, took notes, looked at the foot comments did more research. THEN, since I still didn't understand 30-40% of it, I would go on reddit post everything I didn't understand, including little questions, etc.

    This book has 20 chapters. Realistically, 1 chapter bi-weekly would be ideal, but it will take me time. Does anyone wanna do tag along? Do you it will be a good idea for the r/investing community?

    EDIT:

    Didn't see that this blew up, but as of today, I will be restarting from Chapter 1. I recommend everyone that wants to follow along or is new to Investing to pick up a copy! Let's aim for Jan. 19th for the Chapter 1.

    submitted by /u/nf4l_
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    Intel was aware of the chip vulnerability when its CEO sold off $24 million in company stock

    Posted: 03 Jan 2018 06:21 PM PST

    Wouldn't this qualify as insider trading?

    Source

    submitted by /u/johnmountain
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    Interviewed the CIO at a state pension fund recently. Here are his insights on the market as it is now.

    Posted: 03 Jan 2018 06:49 PM PST

    I work as a state government auditor. Recently, my office has been working on an operational audit of the state's pension fund. Our audit was primarily focused on operations at the fund (i.e., examination of the organization's internal control structure, review of various non-investing operating procedures, etc.).

    Today, I had the pleasure of interviewing the CIO of the fund. He had worked for some local hedge funds for over 25 years before coming to the state pension fund as a CIO. He has a CFA, and worked as an electrical engineer before turning to finance.

    After I asked all of the audit-related questions I had, I decided to spin the conversation over to investing. He was more than happy to oblige. He stressed that he was an investor, not a trader. Here are a few takeaways from our conversation:

    1. One cannot predict what's going to happen a year from now in general.
    2. The equity markets are overly complacent right now and while expensive, are not as expensive as they were in 2000. There are still bargains out there, but plenty of value traps too.
    3. He has not seen volatility this low ever in his entire career. He feels that the market is dramatically underpricing the possibility of a geopolitical shock or natural disasters that might cascade upon one another. To him, the VIX is unnaturally low right now, and he believes that it will eventually revert to the its past mean if a geopolitical shock comes to fruition.
    4. For anyone with a sizable portfolio, it's important to buy assets uncorrelated with the equity market. The state pension fund cut its equity allocation from 49% to 40% over the past few years for this reason and instead has focused more efforts on identifying good investments in real estate and private equity.
    5. He's bullish on land and agriculture. The state pension fund recently bought an interest in an agricultural cooperative that produces blueberries for harvest.
    6. He readily admits that he has underperformed the market in his personal portfolio. But given that the guy is over 60 years old, he may be more concerned with capital preservation than most people.
    7. He is a big fan of Andy Grove, one of the founders of Intel. He considers Intel the precursor to what Silicon Valley is today. He recommended that I read his two books, "Only the Paranoid Survive" and "High Output Management".
    submitted by /u/rimlogger
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    Tesla's Fourth Quarter Model 3 Deliveries Fall Short of Estimates

    Posted: 03 Jan 2018 01:33 PM PST

    Tesla reports fourth quarter Model 3 deliveries at 1,550 compared with estimates of 2,917, Bloomberg News reports.

    https://www.bloomberg.com/news/articles/2018-01-03/tesla-s-fourth-quarter-model-3-deliveries-fall-short-of-estimates

    submitted by /u/vandelays
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    $INTC and $AMD and Meltdown and Spectre

    Posted: 03 Jan 2018 06:03 PM PST

    I thought I would start a discussion about chipmakers going forward with the news today of two major security flaws in processors' kernels. The first, Meltdown, seems to only affect Intel, hence the big hit for INTC and the huge gains for AMD. Intel deflected late in the day to say other chipmakers are affected, too. Well, that seems to be the case with Spectre and I'm unsure where this leaves Intel and AMD in the end.

    Will AMD rebound better, take market share, build a better product, faster?

    Would love to hear all thoughts and discussion. This is a huge deal and some are saying could take a decade before new, comparable and secure chips are ready. I'm debating selling all positions and waiting to see where the chips fall in the coming weeks (pun intended).

    submitted by /u/ballard_brewer
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    Intel's CEO Just Sold a Lot of Stock -- The Motley Fool

    Posted: 03 Jan 2018 05:22 AM PST

    I thought it might be of interest to many here. Source.

    submitted by /u/johnmountain
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    How much of the return on equities is caused by more people entering due to easier access and the information age?

    Posted: 03 Jan 2018 02:03 PM PST

    People who have actually used Financial Advisors, what are some things you learned that a common investor might not be aware of?

    Posted: 03 Jan 2018 10:33 AM PST

    Did any traditional investments outperform Bitcoin in 2017?

    Posted: 04 Jan 2018 04:16 AM PST

    Bitcoin was the worst performing cryptocurrency in the top 25, what traditional investments beat it?

    submitted by /u/A_Internet_Stranger
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    Daily advice thread. All questions about your personal situation should be asked here

    Posted: 04 Jan 2018 04:05 AM PST

    If your question is "I have $10,000, what do I do?" or anything similar. There is no single answer to this question, but we will also need A LOT MORE information if we are to give some sort of answer

    • How old are you?
    • Are you employed/making income? How much?
    • What are your objectives with this money? (buy a house? Retirement savings?)
    • What is your risk tolerance? (Do you mind risking it at blackjack or do you need to know its 100% safe?)
    • What are you current holdings? (Do you already have exposure to specific funds and sectors?)
    • Any other assets? House paid off? Cars? Expensive girlfriend? (not really an asset)
    • What is your time horizon? Do you need this money next month? Next 20yrs?
    • Any big debts?
    • Any other relevant financial information will be useful to give you a proper answer.

    Be aware that these answers are just opinions of Redditors and should be used as a starting point for your research. You should strongly consider seeing a registered financial rep before making any financial decisions!

    submitted by /u/AutoModerator
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    Why did BUDZ (Weed Inc) buy a golf course in NY for $800k?

    Posted: 03 Jan 2018 09:58 AM PST

    Why would a company with no revenue in 2015 & 2016, whose focus is on cannabis genome sequencing, spend $800k to buy Sugar Hill Golf Course located at 7060 East Lake Rd., Westfield, New York?

    I've since closed my position with them after reading their S-1A. I'll stay with my ACBFF, APHQF and TWMJF positions for the long run.

    submitted by /u/blue_cadet_3
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    Best European broker for investing in USD?

    Posted: 04 Jan 2018 03:26 AM PST

    My wife is a German resident and earns her salary in USD. She's looking for a European broker to invest in USD - in low-cost ETFs (style Vanguard, or it's European version). We've heard of Degiro but unfortunately upon withdrawal the funds must be converted to Euro which is a no-go. I invest through Interactive Brokers so we're looking for a different broker (might sound stupid but we don't want to put all our savings with 1 broker). Any help will be greatly appreciated.

    submitted by /u/IHaveTinnitusWHAT
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    If I trade somebody a share of Amazon for a share of Google (if that is possible without selling to usd), is that a taxable event?

    Posted: 03 Jan 2018 11:25 PM PST

    Alibaba's Ant Financial tried to lure people into creepy credit scoring scheme, backtracks and calls the idea "extremely idiotic".

    Posted: 04 Jan 2018 03:09 AM PST

    https://www.bloomberg.com/news/articles/2018-01-04/jack-ma-s-ant-apologizes-for-baiting-users-into-credit-system

    Ant Financial, the internet finance behemoth controlled by billionaire Alibaba founder Jack Ma, has apologized for roping unsuspecting users into its fledgling but fast-growing credit-score system.

    Ant Financial's Alipay kicked off a free service this week to help users generate a consumption profile based on their shopping history. But buried at the bottom of its landing page was a small box -- checked by default -- that automatically enrolled users to its Sesame Credit unless they opted out. The subsequent online uproar prompted Ant to change that setting and to call the move "extremely idiotic," according to a post on its official social media account.

    ACLU on Sesame Financial

    Chinese Government on "Social Credit" scoring

    Our country is in a crucial period of economic and social transformation. Interest subjects are becoming more pluralized, various social contradictions are prominent, and social organizations and management methods are seeing profound change. Completely moving the construction of a social credit system forward is an effective method to strengthen social sincerity, stimulate mutual trust in society, and reducing social contradictions, and is an urgent requirement for strengthening and innovating social governance, and building a Socialist harmonious society.

    ...

    Strengthen rewards and incentives for subjects to keep trust. Expand rewards and propaganda strength for trust-keeping acts. Grant rewards to enterprises and model individuals keeping trust according to regulations, broadly propagate them through news media, and forge a public opinion environment that trust-keeping is glorious.

    submitted by /u/JustAsIgnorantAsYou
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    Thoughts on Waste Management (WM)

    Posted: 03 Jan 2018 06:02 PM PST

    Seems to be a solid pick (lack of competition, we'll always need trash collection, dividend hikes). On the other hand, it's p/e is quite high for an industry where there isn't much room to justify growing earnings at this pace, and. It's already run up a LOT in the past few months.

    submitted by /u/exceptionalaverage
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    Difference between Acc and Dist ETFs?

    Posted: 04 Jan 2018 02:42 AM PST

    Which is recommended?

    submitted by /u/Spoooderr
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    What’s your go to resource to decide whether or not to buy a stock?

    Posted: 04 Jan 2018 01:34 AM PST

    Right now I am looking at yahoo finance for analyst recommendations but they don't always have anything for smaller companies. What are you guys looking at to determine whether or not to buy stocks, whether they're over or undervalued, etc. For example, I was just looking into $XXII and there was only one analyst on yahoo finance with a PT of 11.50, which I'm a little... skeptical of just because of how extreme it is.

    submitted by /u/_FUCK_THE_GIANTS_
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    Live CNBC audio stream

    Posted: 03 Jan 2018 04:45 PM PST

    Any place where I could listen to CNBC audio stream at work? Thanks

    submitted by /u/pritz786
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    Newbie question

    Posted: 04 Jan 2018 01:04 AM PST

    This question seems really dumb in my head but I have to ask.

    If I bought 2500 shares for $10, my cost per share is $10. If I later sold 1000 shares for $30, but then bought them all back for $31. What would my cost per share be?

    If you do the math it raises the cps to $22.4. But in my head, you really have the same number of shares for an additional $1000, which wouldn't raise the cps by $12.4...

    This is a dumb mistake I made recently (woops), can someone help me wrap my head around this?

    submitted by /u/Yellowbucklesareblue
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    New investor stupid question

    Posted: 03 Jan 2018 03:21 PM PST

    Might be a very stupid question. If a stock with a large volume during the day has no trades during the after market trading session, is this a sign of something or is it simply because there are less trades occurring during after market hours and the stock just wasn't traded.

    submitted by /u/Duri1
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    What will be the consequences of the GOP tax plan for the stock market?

    Posted: 03 Jan 2018 11:57 PM PST

    Now that the Tax plan has passed the House and Senate, what will be the consequences of this? Trump says that this will create jobs and lift the stock market to even higher heights.

    However, some experts states that this will eventually lead to a recession. Whatever Trump says tends to go the opposite but I'm interested in what our next steps should be in terms of investing. Yes, I know people call bubbles bursting all the time but doesn't mean I won't listen and evaluate their opinions myself.

    Are we poised to see more stock market records this year? This is foresight and no knows but how do you guys think this affects our investing strategies?

    submitted by /u/dahhello
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    Barron's says Corning is 25% undervalued

    Posted: 03 Jan 2018 12:06 PM PST

    There are plenty of articles outlining why Corning is undervalued with a PE of just 13.9. The usual thesis is growing demand for glass in TVs, phones and cars and its thriving optical fiber business.

    Barron's article largely follows this thinking but says the upside is probably limited to 25% due to concerns about over saturation of the TV business (Display Technologies) which is a primary driver of Corning's revenues and earnings.

    It is true that several fabs are coming into operation this year. However in total the new fabs are exected to add just 3% to overall capacity and a new report from TrendForce subsidiary WitsView now forecasts that LCD displays, ie televisions, will probably rebound in 2018 with sales of 218 million units representing a 4% increase.

    https://www.rapidtvnews.com/2018010350297/lcd-tv-panel-market-set-for-supply-demand-balance-in-in-2018.html#axzz539X5o7J0

    With balanced TV demand coupled with 15% growth in optical communications and 25% growth in Speciality Materials the PE of 13.9 looks like a steal.

    For the record, I have no connection to the article, the author or to Seeking Alpha. I don't own the stock. I am not being paid to write this. I am not a bot. I just found the article interesting.

    This article is not a recommendation to buy or sell any security or derivative. Stocks are not suitable for all investors. Please do your own research.

    submitted by /u/InterestingNews1
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    First Long Island Ice Tea, now Hooters joins blockchain

    Posted: 03 Jan 2018 09:50 AM PST

    Taken from /wsb because I thought it was funny. It's not a bubble guys!

    "Eating a burger is now a way to mine for cryptocoins," -Dennis Becker

    https://arstechnica.com/tech-policy/2018/01/blockchain-announcement-sends-hooters-parent-company-stock-soaring/

    submitted by /u/AtlasKlein
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    Silly question re: Vanguard ETFs through Schwab

    Posted: 03 Jan 2018 07:15 AM PST

    Feel free to explain to me like I'm 5, because I am very green when it comes to this stuff. But basically what I am wondering is this: I have a Schwab brokerage account because I opened their wonderful checking account. I want to start investing in Vanguard ETF's.

    Are there pros and cons for buying them through Schwab or opening a Vanguard account? The minimalist in me would rather do it through Schwab to have one less account, but not if there will be more fees.

    And I plan on continually investing, say once a month throwing a few hundred dollars into it.

    submitted by /u/bzdnk
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