Poker has been slow i made little over 1k this week. Its been ok playing 100nl because i lent out 2.6k and haven't cleared my 1.5k bonus yet... when i get this $s ill be playing 200 and 400 again.
I finished reading a 500 page book on buffets life, another on asset allocation/efficient market hypothesis...betas etc...(which is all academic bullshit wanted to know their ideas though) and a smaller value investment book which was great..
I also watched every single interview i could find by buffett, the mba speech he made was long and epic. http://www.youtube.com/watch?v=DfuXKpMFUjc
there are multiple parts.
I also watched all the interviews i could find on bill gates and steve jobs. Both guys are super smart but i thought i would like jobs more since hes innovative, from my area and i love my apple stuff. He was very informative in his Standford speech about his epiphanys through his fight with cancer. Steves speech http://www.youtube.com/watch?v=UF8uR6Z6KLc
In the end i liked bill gates more his innovation skills aren't as good but he is a epic strategic businessman and thats why he won. He is more empathetic which i think are also traits that helped Microsoft win. This is a good speech by him about charity. http://www.youtube.com/watch?v=AP5VIhbJwFs
I been thinking a lot about investing and focusing on taxations effects on longterm compounding. Its interesting because even if you know a 5-10% drop is coming(which it is impossible to forecast the market short term). It is actually going to be more +EV to stay in the stock if your goal is to own the company longterm because of the effects capitol gains tax has on compounding. Also when switching from one asset to another the one that is currently owned has a premium on the amount of 'principle' gained that is compounding that would be paid in tax if you sell and buy. So to sell something to buy something else it has to be substantially better. Also after 2010 it will make a lot of sense to incorporate my investing because of differences in law on dividend taxation. This is just stuff i been thinking about i have to go to a cpa though to ask questions later in the year to make sure....
Another huge thing i been looking at is corporate structures, salary and bonuses. In the financials you can have a super profitable business that is "cheap" but it still a terrible investment if the top people have friends on the board and are greedy. Its something i been studying closely. All the companies i have i know the management and try to find interviews they do and see what they pay themselves and say in annual reports/calls.
Beyond that TC, lorange and rob have talked to me a bit about investing and they have started studying too!!! woohoo It would be really sick if they got good we could do a partnership in like a year or 2 years. I have a friend managing 7 figures right now who i call a lot for advice and a few others who just got ibanking jobs. And i am meeting a guy who was managing 8 figures... So the future seems really exciting/fun....
So here is the brag section of my blog post! =). I recently had 3-4 people asking me to invest for them a few of them offered 25k+ sadly i turned them down because i am not good enough yet and don't have a ltd setup by a lawyer. This week tc asked me for my results so i found all the earning reports at Schwab for my account online. I started the acct at 18 years old in 2007. Before this i helped my mom from 16-17 years old make 5 figures in her account.(which i got to keep none of =(..) i should ask her for her statements for the account i helped manage. Below the s&p500 is with dividends reinvested so its a little higher % gained than if you just looked up the exchange on a graph. It makes it way more realistic though and my return against it lower. so here are my stock results /brag
GL alll!!!!!! Ttyl playing ftops 1 today ONE TIME PLZZZZZZZ =)