HC, As rare as it is...thumbs up. Id say WB's "inferior investor" was what you or I would be honest and call traders and speculators and specialists--specialists being 3 grades lower than lawyers on the pondscum ladder.
If WB were to listen to me there'd be another "split" at this point: BRKC, trading at 1/10 of the B.
THEN it would make sense to have a div of 2% of the surplus cash go to A shares, since it would obey rule #1 of Wall St.---"ph*** retail.
Nope. " HC's just playing a different game than WB. Thus, he's logical, but irrational.
It's also true that in WB's world the proper investor borrows against his mortgage, b uys some BRK, and 40-50 years later sells it, and divides the after tax proceeds to living expenses, estate, and charity. The superior investor has enough capital to put 100% of BRK to estate and charity.
ANY "All in" fails an aggression test. The proper measure is the retail road kill test. In this case the term "dead money" comes to mind. Take a clue from syz about emerging mkts. I would also suggest starting dd on some MLP ETFs, and some REIT ETF. As you and I both know---remember your rants about FB?-- even the SPY can be gamed. While Bogle is probably right about dart boards, there has never been a substitute for DD other than dumb luck.
jetpro, No wealth was destroyed. It was transferred from the government and retail cannon fodder to traders and specialists...and insiders and their cronies.
In the meantime, a small stock of now highschool level i/p is getting organised and utilised, to pay back the taxpayers.
So because WB is getting old, your grandkids are all in on the SPY? Perfect non-sequitur. You sound like a retail broker.
KO has zilch to do with your "strategy" in re 401k and 529.
So, since you are all so educated on how the SPY can be gamed, and whine about it regularly, your "Go Bogle" response of not finding some tickers that stand under f/a and real dd is more pathetic than WB--since mostly he is running so much money he can;t keep track of it--but doesn;t care, because he's playing his game, not yours.
You know best what you think is overweight. And at current prices, I don;t see any real "boys" out there--anywhere. Note I suggested to HC that he dd some REIT ETFs, of which I think there are a few. And specifically in the context of not being 100% in SPY.
As evidenced by HC's reply to me, his brain burped somewhere around the place he should have noted that 100% in on "the market" means 0 alpha; and at present lofty multiples on dang near every metric, no room for advances other than on broad cash inflow from other dart throwers.
BTW, my own reading tells me that this is true in spades on utilities other than water. So, if you feel like it, you may wish to do a little trimming there as well.
This is where I always go back to net basis. Somebody inflates the clearing price by demanding that their cash go chase yeild, and when interest rates begin to head back towards a 100 year average, they cash out and go there. Bidding up the price does nothing to hurt the yield of somebody in at a lower basis. In fact, when I was actively in the game, games of cash flow created the beta that was the platform for lowering net basis for any given ticker.
What happens to the 15 year yield for somebody who bought a puppy showing a 3% div--and then takes a standard 20% bear discount on the clearing price--that recovers at the rate of inflation?
To me, the whole S&P is approaching that kind of problem, which resolves as "dead money."
BTX is paying all of the above except CIRM. CIRM is NOT a "stem cell instiution"--it's a taxpayer funded EDC that subsidises the CA real estate and University industries. And it's recent spend with BTX got a barely passing score for being of any use to anybody except landlords.
REfuse???? rotfl......Since your arrival you have insisted on learning nothing, and think that is the magic formula for getting others to be as stupid as you are becoming.
So: DO tell everyone all about Pancdx: how much of your money will be spent before it brings in $1k of gross?
This is NOT a high school science fair--it's a 4th level claim to assets. No assets? No price.
It's already made a lot of money for mgt, and will keep doing so.
After increasing rev about $2 million, a year it can make payroll without dilution--so long as it does no r&d, or has any COG.....
As it is, the net burn rate is locked in for several years to come.
And so a return to 1995, with some 20th Century literacy added. How much spending before animal studies are begun?
So--When was the last time you talked to Neal? Ever heard of him before some tipster told you BTX was heading up from 4 3/8?
Why not try something other than punking out by answering the question: How much spending before animal studies are begun?"
And when BTX started paying Weill, you claimed it WAS one of the top 5...
And have yet to say how much BTX pays Cornell for what is thus far no more than a backlink.
Nope. The odds on US roulette are 38 to 1 against winning--35 to 1 if you do. That's better odds than BTX gives to anyone but insiders and cronies--and the MMs who use this dog as a chew toy.
That is NOT an IND.
And it does no more for shareholders than it does when Buick agrees to share parts with Chevy.
Mauldin's reputation is exactly what you see in BTX. He's been hyping it since 2009.
Professional shorts subscribe to Mauldin, Cox, Agora for target acquisition. BTX never fails them.
Because none of it is "news" to any one in biotech, and none of it has any content to anyone in finance and equities.
Bottom line is that any pro knows that BTX has said nothing since 2008 that will convert to $1k over COG and G&A within 5 years. And as of this week, it's still doing that. Since even "Four more years" is going to double the o/s, or doors close. it can be ignored or shorted at will. It's an MM'c chew toy. No more; no less.
"allow them to persue this IND." Yup. NOT "file an IND."
Good to see you about.
Next question: how much spending between today and an actual IND?
Coming from what cash on hand not contractually obligated to something else?
And only then onto what is the actual JNJ contract? When does it put $1k positive to BTX?
And from there, back to today's volume and direction of the tape.
Excellent. So? What's the cost, and time to completion?/
Otherwise it's just another press release.
Especially without the FDA response.
Mauldin describes himself as a "serial entrepreneur." Having seen his work, I put him in the same class as BTX insiders and cronies ---he works for himself and nobody else.