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The 10 Most Recent Messages By mungofitch

Take me back to where I was.
  • Date: 6/25/17 2:06 PM
  • Number: 230088
  • Recommendations: 0
It seems the lesson has stuck.

"(dollars in millions)
March 31, 2017 (unaudited)
...
Total cash, cash equivalents and U.S. Treasury Bills 79,414


Jim
  • Date: 6/24/17 4:24 PM
  • Number: 16625
  • Recommendations: 1
I don't think anybody is ever going to make interesting returns in the compute-power-as-a-service business
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I guess you need some more time to realize that this is a very profitable business.


The *compute* as a service
(Continued...)
  • Date: 6/24/17 2:41 PM
  • Number: 16622
  • Recommendations: 2
I think AWS performance has made many change their views.

I certainly changed my mind.
But that is due not to the financial results, but due to the change in the positioning of the service, and (no doubt more so) in my
(Continued...)
  • Date: 6/23/17 10:19 PM
  • Number: 16613
  • Recommendations: 2
Cool. You think the volatility will come down, especially if the stock just stabilized here, and making options cheap? Not hoping, but just wondering.

No, I have no opinion about the trajectory implied volatility (aka option
(Continued...)
  • Date: 6/23/17 10:10 PM
  • Number: 16612
  • Recommendations: 3
Anyway, the point of the rambling post is to emphasize that in my view, discount retail is just retail,
...
That's where we diverge. The size of markets is inversely correlated to the wealth of the clients.



I
(Continued...)
  • Date: 6/23/17 7:22 PM
  • Number: 16607
  • Recommendations: 3
but he makes an exception of Costco and Walmart which are basically discounters which is what makes them different from ordinary retailers.

Rambling post

Actually FWIW I think that's a pure coincidence and being
(Continued...)
  • Date: 6/23/17 5:41 PM
  • Number: 16605
  • Recommendations: 2
Amazon is a threat to all non-perishable retail. Discount to high-end.

Probably perishable stuff too. Whole Foods won't be their only move in food.

Simple solution? Same as it was before Amazon came along: avoid the
(Continued...)
  • Date: 6/23/17 3:33 PM
  • Number: 16601
  • Recommendations: 4
I may end up buying some calls.

They are understandably expensive at the moment.
Sometimes there is a share price so low that it's price almost like an option, so the common is the best way to go.

FWIW
After
(Continued...)
  • Date: 6/23/17 3:13 PM
  • Number: 16600
  • Recommendations: 6
Obviously, Hempton's rule against doubling down is not getting much traction with us.

Doubling down is the only rational approach to something getting cheaper.
Provided, however, your estimate of value is unchanged and
(Continued...)
  • Date: 6/23/17 2:59 PM
  • Number: 230075
  • Recommendations: 4
Curious - what is the most profitable firm this year? And is profit defined as RoS (net income / sales)?

No, I was using simple "made the most absolute profit", as the comment was intended to give a sense of absolute
(Continued...)
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Take me back to where I was.
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