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I am a woman and have been married to my husband for 10 years. We were both previously divorced before we married. He was not a great financial place when we met, but he has since gotten on board and is now a super-saver. I earn nearly twice what he does, but we maintain separate bank accounts and share household expenses. It works for us.

Charlie Munger has warned of a brewing storm in the US commercial property market, with American banks “full of” what he said were “bad loans” as property prices fall.
The comments from the 99-year-old investor and sidekick to billionaire Warren Buffett come as turmoil ripples through the country’s financial system, which is reckoning with a potential commercial property crash following a handful of bank failures.
“It’s not nearly as bad as it was in 2008,” the Berkshire Hathaway vice-chair told the Financial Times in an interview. “But trouble happens to banking just like trouble happens everywhere else. In the good times you get into bad habits . . . When bad times come they lose too much.
”Munger was speaking on the veranda of his home in Greater Wilshire, a leafy neighbourhood of Los Angeles, where he has lived for 60 years since he designed the property himself.
Dressed in a plaid shirt, Munger held court from his wheelchair as the travails of ailing California-based bank First Republic were playing out in real time on a television screen airing CNBC in the background.
Berkshire has a long history of supporting US banks through periods of financial instability. The sprawling industrials-to-insurance behemoth invested $5bn in Goldman Sachs during the 2007-08 financial crisis and a similar sum in Bank of America in 2011.
But the company has so far stayed on the sidelines of the current bout of turmoil, during which Silicon Valley Bank and Signature Bank collapsed. “Berkshire has made some bank investments that worked out very well for us,” said Munger. “We’ve had some disappointment in banks, too. It’s not that damned easy to run a bank intelligently, there are a lot of temptations to do the wrong thing.
”Their reticence stems in part from lurking risks in banks’ vast portfolios of commercial property loans. “A lot of real estate isn’t so good any more,” Munger said. “We have a lot of troubled office buildings, a lot of troubled shopping centres, a lot of troubled other properties. There’s a lot of agony out there.”He noted that banks were already pulling back from lending to commercial developers. “Every bank in the country is way tighter on real estate loans today than they were six months ago,” he said. “They all seem [to be] too much trouble.
”Munger grew up in Omaha, Nebraska, a few hundred feet from where Buffett now lives. The two met in 1959, when Buffett was 28 and Munger 35. Munger, who at one point worked in a grocery store owned by Buffett’s grandfather, trained as a lawyer before being coaxed into investment by his soon-to-be partner.
Buffett has credited Munger with encouraging him to move on from the “cigar-butt strategy” espoused by his mentor Benjamin Graham, which involved buying cheap stocks akin to a discarded cigar where just a single puff of value remained.
In 2015, Buffett wrote in the conglomerate’s 50th annual letter: “The blueprint he [Munger] gave me was simple: Forget what you know about buying fair businesses at wonderful prices; instead, buy wonderful businesses at fair prices.
”This approach has served them well. Berkshire has generated compounded annual returns of nearly 20 per cent, twice the rate of the benchmark S&P 500 stock index, since 1965.
“We were a creature of a particular time and a perfect set of opportunities,” said Munger, adding that he had lived during “a perfect period to be a common stock investor”.
He and Buffett had benefited “by and large [from] low interest rates, low equity values, ample opportunities”, he said.
Munger said he had made most of his money from just four investments: Berkshire, retailer Costco, his investment in a fund managed by Li Lu’s Himalaya Capital and Afton Properties, a real estate venture that owns apartment buildings in California and New Jersey. Forbes estimates his wealth at $2.4bn.
“It’s the nature of things that a very intelligent man working hard maybe gets three, four, five really good long-term opportunities of buying great companies at a cheap price,” he said. “It happens rarely.
”Ahead of the company’s annual meeting on Saturday, tens of thousands of Berkshire shareholders will descend on Omaha to hear from the two nonagenarian investors as they attend something akin to a festival of capitalism.
But Munger warned that the golden age for investing was over and investors would need to contend with a period of lower returns.
“It’s gotten very tough to have anything like the returns that were obtained in the past,” he said, pointing to higher interest rates and a crowded field of investors chasing bargains and looking for companies with inefficiencies.
“[At] the exact time that the game is getting tougher we’ve got more and more people trying to play it,” he said.
Berkshire has struggled to find worthwhile investments at times over the past decade, a fact epitomised by a cash balance that often sits in excess of $100bn and the choice by the company to buy back tens of billions of dollars of its own shares.
Munger also took aim at his own industry, hitting out at a “glut of investment managers that’s bad for the country”. Many of them are little more than “fortune tellers or astrologers who are dragging money out of their clients’ accounts, which [is] not being earned by any useful service”.
He had harsh words for buyout groups as well. “There’s too much private equity, too many buyers of all kinds . . it’s making it a very tough game for everybody.”
“The people getting the fees are still doing well,” he said of private equity fund managers. But he warned: “People that aren’t being served very well by paying all those fees may eventually be unwilling to pay them.
”Where Buffett has emphatically told Berkshire shareholders to “never bet against America”, Munger is more cautious. “I do not think that we can take it as a given that American democracy will prosper and flourish forever,” he said. “But I think we’ll stumble through pretty well for quite a while yet.
”On his own imprint on the world, Munger said: “I would like my legacy to be a more relentless determination to develop and use what I call an uncommon sense.”

Charlie Munger has warned of a brewing storm in the US commercial property market, with American banks “full of” what he said were “bad loans” as property prices fall.  

The comments from the 99-year-old investor and sidekick to billionaire Warren Buffett come as turmoil ripples through the country’s financial system, which is reckoning with a potential commercial property crash following a handful of bank failures.
“It’s not nearly as bad as it was in 2008,” the Berkshire Hathaway vice-chair told the Financial Times in an interview. “But trouble happens to banking just like trouble happens everywhere else. In the good times you get into bad habits . . . When bad times come they lose too much.”
Munger was speaking on the veranda of his home in Greater Wilshire, a leafy neighbourhood of Los Angeles, where he has lived for 60 years since he designed the property himself.
Dressed in a plaid shirt, Munger held court from his wheelchair as the travails of ailing California-based bank First Republic were playing out in real time on a television screen airing CNBC in the background.
Berkshire has a long history of supporting US banks through periods of financial instability. The sprawling industrials-to-insurance behemoth invested $5bn in Goldman Sachs during the 2007-08 financial crisis and a similar sum in Bank of America in 2011.
But the company has so far stayed on the sidelines of the current bout of turmoil, during which Silicon Valley Bank and Signature Bank collapsed. “Berkshire has made some bank investments that worked out very well for us,” said Munger. “We’ve had some disappointment in banks, too. It’s not that damned easy to run a bank intelligently, there are a lot of temptations to do the wrong thing.”
Their reticence stems in part from lurking risks in banks’ vast portfolios of commercial property loans. “A lot of real estate isn’t so good any more,” Munger said. “We have a lot of troubled office buildings, a lot of troubled shopping centres, a lot of troubled other properties. There’s a lot of agony out there.”
He noted that banks were already pulling back from lending to commercial developers. “Every bank in the country is way tighter on real estate loans today than they were six months ago,” he said. “They all seem [to be] too much trouble.”
Munger grew up in Omaha, Nebraska, a few hundred feet from where Buffett now lives. The two met in 1959, when Buffett was 28 and Munger 35. Munger, who at one point worked in a grocery store owned by Buffett’s grandfather, trained as a lawyer before being coaxed into investment by his soon-to-be partner.
Buffett has credited Munger with encouraging him to move on from the “cigar-butt strategy” espoused by his mentor Benjamin Graham, which involved buying cheap stocks akin to a discarded cigar where just a single puff of value remained.
In 2015, Buffett wrote in the conglomerate’s 50th annual letter: “The blueprint he [Munger] gave me was simple: Forget what you know about buying fair businesses at wonderful prices; instead, buy wonderful businesses at fair prices.”
This approach has served them well. Berkshire has generated compounded annual returns of nearly 20 per cent, twice the rate of the benchmark S&P 500 stock index, since 1965.
“We were a creature of a particular time and a perfect set of opportunities,” said Munger, adding that he had lived during “a perfect period to be a common stock investor”.
He and Buffett had benefited “by and large [from] low interest rates, low equity values, ample opportunities”, he said.
Munger said he had made most of his money from just four investments: Berkshire, retailer Costco, his investment in a fund managed by Li Lu’s Himalaya Capital and Afton Properties, a real estate venture that owns apartment buildings in California and New Jersey. Forbes estimates his wealth at $2.4bn.
“It’s the nature of things that a very intelligent man working hard maybe gets three, four, five really good long-term opportunities of buying great companies at a cheap price,” he said. “It happens rarely.”
Ahead of the company’s annual meeting on Saturday, tens of thousands of Berkshire shareholders will descend on Omaha to hear from the two nonagenarian investors as they attend something akin to a festival of capitalism.
But Munger warned that the golden age for investing was over and investors would need to contend with a period of lower returns.
“It’s gotten very tough to have anything like the returns that were obtained in the past,” he said, pointing to higher interest rates and a crowded field of investors chasing bargains and looking for companies with inefficiencies.
“[At] the exact time that the game is getting tougher we’ve got more and more people trying to play it,” he said.
Berkshire has struggled to find worthwhile investments at times over the past decade, a fact epitomised by a cash balance that often sits in excess of $100bn and the choice by the company to buy back tens of billions of dollars of its own shares.
Munger also took aim at his own industry, hitting out at a “glut of investment managers that’s bad for the country”. Many of them are little more than “fortune tellers or astrologers who are dragging money out of their clients’ accounts, which [is] not being earned by any useful service”.
He had harsh words for buyout groups as well. “There’s too much private equity, too many buyers of all kinds . . it’s making it a very tough game for everybody.”
“The people getting the fees are still doing well,” he said of private equity fund managers. But he warned: “People that aren’t being served very well by paying all those fees may eventually be unwilling to pay them.”
Where Buffett has emphatically told Berkshire shareholders to “never bet against America”, Munger is more cautious. “I do not think that we can take it as a given that American democracy will prosper and flourish forever,” he said. “But I think we’ll stumble through pretty well for quite a while yet.”
On his own imprint on the world, Munger said: “I would like my legacy to be a more relentless determination to develop and use what I call an uncommon sense.”

I haven’t met ANY happy gym owners. Is it inevitable to be miserable running one?

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At the farm that I worked at, they knew how to butcher, would have loved to do it themselves, and were not allowed to sell meat that they butchered themselves because it needed to be processed in a sterile facility.

I'm guessing it's state by state, as I've also seen ranchers "harvest" the animal in the field. There's nothing quite like dunking a chicken in boiling water and then putting it in a salad spinner.

If it's your calling and you understand how to kill the animal painlessly and butcher it economically, there might be ways to accomplish that. But in general, the government has a lot of regulations on how meat is processed, and a lot of farmers understand how to harvest their livestock, so they are only going to outsource that to someone who can do it exceptionally well.

I've never met someone in farming/livestock who did it for the money. You might be able to make a living at this, and give the animals a good death, but the big money in livestock is in factory farmed animals.

I know one of their investments is in 'The Lodges at Glenwood' (formerly known as the Glenwood Apartments) in Provo, UT. I actually lived there when I was going to college. I know how packed that place is, even though it was (admittedly 25 years ago) somewhat of a dive. Provo is booming, and I feel sorry for students trying to afford a place to live. That said, it's a great market to be a landlord.

I've been w/ CalTier for about 18 months. It's been fine, I guess. My biggest frustration is their stated distributions and the deposits into my bank account do not jive. I need to call them and get it figured out. the transaction history from my account on their website doesn't even seem to jive with their own website distribution totals.

I admit, one reason I invested was the novelty of being a part-owner (very, very small 'part') of the place I lived in when I met my wife. Would I do it again without that novelty? I don't know. . . I mean, REITs in general haven't exactly been the greatest place to have your money the last year or so. I'll just ride this out, see what happens, hope I make some money and chalk it up as a learning experience.

We aren’t necessarily in a strange recession because we aren’t necessarily in a recession.

They are not spoken into existence by common knowledge, there are criteria that must be met.

48 upvoted for this on the Econ sub… ITS WRONG!

Probably. As always in economics the data could be adjusted down the road and we could be retroactively declared in recession today but as of today.

NOT IN RECESSION.

A SOFT LANDING IS STILL POSSIBLE IF NOT LIKELY.

I work at one of the big banks and can assure you that there are plenty of regulators available to make sure we’re complying. I can’t tell you the amount of hours I’ve spent in meetings talking with legal/regulatory people to make sure we don’t ship things that will break compliance. The fines for getting it wrong are no joke and people will lose their jobs over it.

Not enough regulators isn’t an excuse. The government’s job is to staff and ensure that regulations are met. The problem we’re seeing with smaller banks now is that they changed the thresholds for them to comply under the Trump admin. We need to bring those rules back, or more banks will fall and the bigger banks will absorb them and everyone becomes “too big to fail”.

Yep. We bought the house we thought we’d grow into. Turned out it was a million projects, we never used half of it, and sold it a few years later for a place that better met our needs. We’re happier now

Let's break this down, you spent $ 30,000 on a course sold by a Guru to learn about E-Commerce. That's mistake no.1 and your biggest mistake.

Website for 20-25k? I build full-scale bespoke E-Commerce platforms for $2500 and $5000 at Max! 25,000 is ridiculous especially if it is only an E-Commerce store, You could've just started off with Shopify which would've cost you $0.

A consultation fee of $40,000, Which is equivalent to how much someone would spend to buy a house where I live. Remember Consultation is just a glorified business used to justify layoffs in big corps, you don't go to them when you're starting out. The number of great individuals I've met on Reddit who have given me such great and specific advice on what I should do is probably better than any Consultation I could have bought.

Expanding to UAE might have seen good due to their "Low Taxes" But remember It is a BIG hassle to do business in the UAE, and this is coming from experience, The amount of different fees you have to pay is just ridiculous. I don't understand why would a pre-revenue e-commerce company would ever want to expand into UAE.

See, I know what I've told you is the "Hard Truth" You've lost your money but remember this, we as humans are on this planet for 70-80 Years at max. Don't sweat it. You could be in an entirely different place in 10 years and you would look back and laugh at what you did.

My advice is, to take a step back, relax, and get a job. Chill. I know you've lost over $200,000 but that is fine, yes you can learn from this but never overthink this. Yes, you've made many mistakes and at times really bad decisions, but everyone makes them, I've made them, my friends have and people will continue to make them.

I feel for you, as someone who works in the e-commerce industry, I would like to offer my service FREE of charge to you, this could be anything and everything from Website adjustments to making a bespoke marketing plan for your business, I will keep on doing this until you start making sales. I would not say this will change your business 180 degrees, but I'll try my best to stop the bleeding.

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The funniest part is that if he needs it 5 years from now it could be dust by then, I met someone that happened to.

I’ve met people that just hold cash because they don’t even trust banks or are just too afraid of risk.

Others just buy real estate, antiques, coins, cards, board games, gold watches, etc. people would be surprised how much some of these things appreciate and even beat the stock market. Some of the most successful people I’ve met stay away the stock market as a whole. At the end of the day they’re all just a tool for us to get to our goal.

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https://www.finra.org/investors/need-help/file-a-complaint

Follow these instructions. Certain requirements must be met once you file a complaint.

Pretty suspect business they are operating.

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I'm following it because I own TECK. One way or another it looks like their met coal business will be spun out. There will have to be a value assigned to that company and it'll likely establish some sort of valuation multiple for other coal companies.

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Ha! I don't pay attention to criminals once they're in jail. Computershare is the same crap shoot as using a reputable broker like Fidelty or Schwab.

In other words, just use a reputable broker. But since you're a conspiracy nut that thinks the ticker is a week old and some Bernie Madoff ponzie scheme has only gotten bigger, you aren't going to listen to reason.

Don't hold physical shares of stock. It's far too easy for them to be lost, stolen, or destroyed, and then the investment is gone.

But you say the shares are registered at Computershare. And you trust that company? How can you trust them with your investment registration? Have you even visited their offices? Met any of their employees in person?

If one trusts Computershare in registering their shares, then you're already trusting the SAME exact type of service that a broker is providing.

There's no way women make less than men. Every waitress I've met makes the equivalent of six figures when you factor in they report no income to the IRS, which lets them collect food stamps, medicaid, welfare, etc.

The problem isn't that there literally aren't enough nurses to care for the elderly, farmers to feed them or builders to house them. France has one of the lowest elder poverty rates in the world, it isn't an issue of making sure their basic needs are being met.

The problem is that they were promised a certain pension income (or at least a pension income, in the case of more recent defined contribution schemes), but because the percentage of the pension age population has increased, there's a deficit between expenses and what taxes — divided between the ASPA, a universal minimum pension funded by general revenue, and the minimum state pension funded by a payroll tax — are able to pay for.

There are fundamentally two approaches to this one is to increase taxes, the other is to reduce expenses. The Macron government has opted for the latter, but there's no reason that they couldn't have opted for the former — and at least as far as ASPA goes, there's no reason that taxation couldn't have been progressive.

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You've clearly never met a hot milf down on her luck.

Cats smell so fucking horrible. Literally all of them, never met a cat or cat owner that didn't smell putrid

I think it's a little bit more complicated than that and a little more grey than "no options met hurdle rate, let's acquire equity", for example they could also invest in other companies. Do you actually buy that every time a corporation does a buyback that there were no M&A opportunities or even straight up investments in other organizations that would be more lucrative for the firm than a buyback?

I find that hard to believe, and think it's more likely that the major shareholders/board/senior leadership all benefit from a buyback so disproportionately vs. other allocations of that money that they occur far more frequently than they should.

Also even if it is the best option for the firm, it's a bad option for the economy at large, and we would all benefit from corporations being incentivized to allocate that capital differently.

The Journal of Accountancy published an article on this last month, noting that the new rule goes in to effect in 2024.

A couple of points from the article: the lifetime maximum that can be moved from a 529 to a Roth is $35,000; the 529 has to have been opened at least 15 years; no contributions or earnings from the last 5 years can be utilized for the Roth contribution; and funds can't be moved from the 529 in a lump sum. That is, each year as the 529 beneficiary has earned income, the amount that could go in to a Roth could possibly be funded by the 529, assuming the other restrictions are met.

Journal of Accountancy article

Yeah, but it was the good guys dying part that was rough, not the killing the bad guys part. Vietnam movies are unpleasant because in many ways, we were the bad guys. Moral grey areas are emotionally painful. It's much easier to suffer in the name of good.

The most morally ambiguous part of Saving Private Ryan was when the good guys shot the innocent conscripts who were forced to fight by the Nazis. But it was excusable because it was D-Day and they didn't know better. The audience didn't know better either until the Reddit TIL's about it. The worst part of Band of Brothers was when we met the German-American guy who returned back to Germany out of national loyalty. I'm glad that they included the classic bit about how nationalism is cancer, but I'm glad they didn't make us feel too bad about it. It's crazy watching Zero Dark Thirty about how they killed Bin Laden, and still feeling ashamed to be American. Bin Laden was evil, but so was the CIA torturing innocent people. Like I sid, grey areas are painful. That's why we spend all our time watching Marvel movies. The have similar themes, but are less guilt inducing since they are fictional (aside from that one scene in the Captain America TV show.)

You need a distribution partner.

1. what type of beverage ?
2. what type of packaging / size ?
3. Look at the FDA rules. It will state what requirements need to be met to be sold to retail establishments.

Met a man in Honduras once. He said...the jungle floor is littered with the bones of gringos looking for gold.

At 7% your money doubles every 10ish years. After 40 years, $100 would hypothetically become $1,600.

Thats pretty good in my estimation. Ive never met a gambler who can double their money every 10 years, but maybe I am wrong?

To answer your question directly, I am not aware of any reputable financial firm who invests this way, since the SEC and FINRA dont look favorably on firms who speculate and not only dont act as fiduciaries, but like almost litrrally the opposite.

Cathie Wood may be who you seek

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You will not lose your job for reporting your job. That's retaliation, which is illegal, and the burden of proof that they didn't fire you in retaliation is on them and usually can't be met.

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Love it! It wouldn't surprise me to see weakness in the market short term, but 2-3 years I'm psyched. Plus, it gives AMR a chance to buyback more shares lower before prices go up.

Are you following the TECK saga? Interesting to see how their met coal business will be handled.

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Hightower is registered in all 50 states from what I saw. And they are headquartered in Chicago, Illinois.

They appear to be a decent sized RIA at over $110bn aum.

I know you mentioned that the investment adviser has a podcast. I assume that's part of their social media marketing efforts. Lots of big investment advisers and brokerages have podcasts and use social media. Heck - Fidelity even has an official Reddit customer care subreddit staffed by Fidelity employees. And Schwab has some good podcasts.

Of course - you definitely should always be wary. I imagine that your FIL simply wants someone to manage their retirement funds. It can be a lot more challenging to manage income based accounts. And as your in-laws get older, it's sometimes not a bad idea to make sure that someone else is managing their finances if a family member isn't doing it for them full time.

Hightower web site if you haven't gone through it yet - https://hightoweradvisors.com/about-us.html

Imo - the real challenge with selecting an RIA and/or investment adviser is finding someone to trust who can properly manage risk and lifestyle goals. Ideally, your FIL met and spoke with the investment advisers that will be supporting him. And that the fees are aligned with the services being delivered.

Update: he delivered my order and showed me proof of the work he did and letters that he sent. I also met with him over zoom and he answered some of my questions. Now I just have to wait and see if there’s any changes on my report. I’ve taken the step to freeze my credit. Is there anything else I should do? Given the fact that he prob still has my info

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It seems like property taxes would be mostly immaterial. If I ended up doing something like this, a camper would be the start for the foreseeable future.

But I’m happy to hear this idea isn’t immediately met with negative feedback.

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have you met mine ?

You typically have a deductible and a max out of pocket. Your deductible counts towards your max out of pocket. Let’s say your deductible is 2k while your max out of pocket is 8k. Normally once you have hit your deductible, your insurance pays a percentage and you pay a percentage until your max out of pocket is met. But lets say you cannot afford to pay your max out of pocket right out and have a chronic illness/disease where you have to have round the clock treatment or are frequently hospitalized. You make payments. It starts over every year. So if you are still paying your max out of pocket from last year and a new year begins, you now have to pay your deductible once again as well as that years out of pocket while still paying on last years. This is how people, even those with insurance, find themselves in huge amount of medical debt. And for families, the usual out of pocket is anywhere from 10-20k. If someone in the family has a chronic disease or illness, they are usually screwed

Create a trust. You can work with a lawyer to create a trust with provisions; such as if you die, it all goes to her, and her parent’s can’t take anything out, only add into. Another provisions can be: that it is all hers and you’re only managing it until she is a certain age at which she has full control and even you are locked out. If you die, the attorney, the law firm, or someone else can be appointed to manage the trust in your place until other provisions are met to hand the trust to her. The lawyer can help you find the proper place to enact the trust with the correct laws to protect the trust in the way you want it to be protected for her regardless of where she or her parents are until the provisions are met to turn the trust over to her. You don’t even had to hand over the trust to her. You can set the trust to allow her to co-mange the trust under whatever provisions you desire; such as allowing her to add other co-managers who are not her parents as long as certain other people you appoint approve of her decisions (such as an oversight board).

At one time, all my investments and properties went my nieces and nephews and the kids of some friends I helped raise. Now, all my investments and properties have one beneficiary, a specific niece who shows interest and promise in investing and creating wealth. If both I and she die, the properties and investments go to one of my nephews who has always been good with money and with the kids in the family. There are instructions for him that states he has to manage the trust with the goal of figuring out how to use the property and investments to benefit himself and the kids with the most promise for investing and growing wealth.

I’m not home often and luckily my apartment tends to stay a decent temperature without AC or heating, so yeah my electric bill is pretty minimal. It hasn’t ever gone over $25. All other utilities are included in my rent.

Interest rate on the car is high, 11%. Student loans I think are 4%. The Invisalign I’m not sure about, I want to say that there was no interest and that it was more of a payment plan of sorts with the orthodontist but that might be too good to be true, ha. Regardless, it’s $170 for 12 more months.

Good point about budgeting in stuff like car maintenance. I didn’t include medical costs because I have insurance and typically check ups and cleanings are included, but I suppose it wouldn’t hurt to have savings for a situation in which I hadn’t met my deductible.

I definitely plan on contributing to my retirement savings. I have a small amount of savings but certainly not 3-6 months.

I appreciate you pointing out that it might not be a good idea to invest to a down payment, I’ll look into better options.

Thanks for the help!

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I met a red head from Holland, that told me she fucked her brother when they were teenagers. (Full brother, also red headed)

I pretended like I wasn’t disgusted, but almost threw up in my mouth.

I met a red head from Holland, that told me she fucked her brother when they were teenagers. (Full brother, also red headed)

I pretended like I wasn’t disgusted, but almost threw up in my mouth.

Intro: I would like to share some interesting tweets about $AMR from one of the most prominent coal experts on Twitter, Bruce Morelan. If you would like to see future comments/posts and wish to be tagged on posts about $AMR, let me know. I may put them in a child/old comment/separate post to avoid clogging up the Daily threads. I promise I'm just trying to share DD, not shill. So far I only know /u/creemeeseason is interested in $AMR.

Disclaimer: I'm going to edit all Tweets for clarity/grammar/conciseness (go to the Tweet to see original wording).

Tweet 1:

> During June and July 2022, Aussie Met fell from $500 to $200 and AMR fell from $180 to $104. The day of earnings, AMR was $126. Adjusting for 15% share reduction, that would be $145. Current share price $146. Earnings in a week so [on an adjusted basis] we are exactly where we were a year ago: Same market cap $2.2B, and same met price $200+.

Tweet 2:

> > $AMR at 2024 average metallurgical coal futures price of $270. Earnings of 16x[270-27-43-110] = $1.44B. [16M tons is the production figure, then he calculates revenue - production costs] > -$240M o/h - $240M tax = $960M/13M = $74 EPS.

This is a 1.97 P/E ratio on 2024 earnings using today's futures pricing for met--and met has been falling pretty hard recently. And no shares repurchased. O/H is... overhead?

Tweet 3. As he states in another thread, this takes into account NO shares repurchased.

Assuming no share buybacks, he projects for 2023:

• $BTU: $1.70 + $2.00 + $1.50 + $2.80 = $8 EPS [forward 3.0 P/E]
• $ARCH $10 + $6 + $6 + $12 = $24 EPS [3.6 forward P/E]
• $AMR: $17 + $11 + $11 + $19 = $58 EPS [2.5 forward P/E]

Tweet 4: As he pointed out in his 'bull case,' if Met falls for 3 years (280, 240, then 200 average), and then we consider 3 scenarios for 2026: $180 met (103% upside), $250 met (202% upside), and $320 met (314% upside).

Tweet 5 continuation: If Met doesn't fall for 3 years (Stays at 280), the 3 listed scenarios for 2026 become +144%, +272%, +393%.

Tweet 6: In his extreme downside scenario ($22 EPS for AMR), we're trading at 6.5x earnings. He think we get 2.6x that EPS ($58).

Bruce's estimates are pretty good generally. He called the weak BTU earnings for Q1 despite being one of the biggest bulls on Twitter about it. He grew a bit bearish about AMR recently thanks to falling met, but we'll see how that shapes up. Coal Twitter is predicting a very strong $AMR quarter.

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I met my future ex-wife when I was 26 and still in school. We had a great run and are still very good friends. We got divorced when I was 42 in the mid '00s. No kids.

I am not specifically looking for long term partner but am not opposed to one. I "fooled around and fell in love" a few times and had a couple medium term relationships. My advice. Don't settle. It's better to be single.

Goals were mostly on the expense side with exception for SS filing goal.

Goals established and met in first 10 years...just after retirement. I'm in year 8 presently.

1. Land sale, home relocation, home buy, < $250k, in new state.
2. Auto purchase every 6 years @ < $28k, indexed for inflation, until end of plan
3. Travel Budget < $5k per year, indexed for inflation, until end of plan
4. Total Living expenses < $45K first 10 years, then reevaluate
5. LTC self funded $80k per year, 2x years at end of plan for self and spouse. So $360k planned in current dollars.
6. SS filing date pushed from 62 to FRA for self and spouse

An unplanned, recent home sale and home buy (another downsizing) paved the way for actual funding of LTC goal costs later in life.

Beyond 10 years goals set...

1. Final home sale, relocation to second home
2. Medicare insurance extra expense @ 65 until end of plan
3. Living expense adjustment (using go-go, slow-go, no-go principles)

So, these are the larger goals anyway.

My assumptions were 3% inflation, 6% nominal rate of return, 60/40 allocation, 42 and 44 year retirement for self and spouse, respectively.

And then some of us wear glasses, so that is definitely an issue. Plus, I guess I am just not the target audience for it. I very much enjoyed Home on the PlayStation 3 which was like a metaverse, but you just used the television screen, a controller, and a headset with a microphone and I met tons of folks, and even played games with them just fine over 10 years ago.

Move away from family business. Take school more seriously. Not go out as much. And tell myself never to go to that one club where I met my ex. Lol

Mrs. de Rothschild was named chairwoman of the bank in January 2015. That October, she and Epstein negotiated a $25 million contract for Epstein’s Southern Trust Co. to provide “risk analysis and the application and use of certain algorithms” for the bank, according to a proposal reviewed by the Journal. 

In 2019, after Epstein was arrested, the bank said that Mrs. de Rothschild never met with Epstein and it had no business links with him.

The bank acknowledged to the Journal that its earlier statement wasn’t accurate. It said Mrs. de Rothschild met with Epstein as part of her normal duties at the bank between 2013 and 2019, and Epstein introduced the bank to U.S. finance leaders, recommended law firms and provided tax and risk consulting.

“In parallel to that, Epstein solicited her personally on a couple occasions for advice and services on estate management,” the bank said.

Mrs. de Rothschild had no knowledge of any legal proceedings against Epstein and “was similarly unaware of any questions regarding his personal conduct,” the bank said. After later learning of his behavior, the bank said, “she feels for and supports the victims.”

One of Epstein’s scheduled meetings with Mrs. de Rothschild, in January 2014, included another of his regular guests: Joshua Cooper Ramo, then co-chief executive of Henry Kissinger’s corporate consulting firm. 

If you're a serial entrepreneur, don't you already know investors? Haven't you met anyone while working on your other ventures? There are investor syndicates, meetups, and match making in just about every city in the country. Not sure how you could be a serial entrepreneur and not already know this.

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The nation’s spy chief, a longtime college president and top women in finance. The circle of people who associated with Jeffrey Epstein years after he was a convicted sex offender is wider than previously reported, according to a trove of documents that include his schedules.

William Burns, director of the Central Intelligence Agency since 2021, had three meetings scheduled with Epstein in 2014, when he was deputy secretary of state, the documents show. They first met in Washington and then Mr. Burns visited Epstein’s townhouse in Manhattan.

Kathryn Ruemmler, a White House counsel under President Barack Obama, had dozens of meetings with Epstein in the years after her White House service and before she became a top lawyer at Goldman Sachs Group Inc. in 2020. He also planned for her to join a 2015 trip to Paris and a 2017 visit to Epstein’s private island in the Caribbean. 

Leon Botstein, the president of Bard College, invited Epstein, who brought a group of young female guests, to the campus. Noam Chomsky, a professor, author and political activist, was scheduled to fly with Epstein to have dinner at Epstein’s Manhattan townhouse in 2015.

You can acquire the capital and expertise to start a business, and you can often do so fairly easily or in a relatively short period of time. I would also posit that starting a business is easier than running/maintaining a business.

But you can never, ever have enough patience for parenting to be easy. Obviously it’s doable- but I’ve never met anyone who thought parenting was easy, not even bad parents. I’m a father and kids are just inherently needy, annoying and exhausting. Of course one understands this going in, but I think for men in particular you can’t fully grasp what it’s like to really never get much of a break from your kids until you’re living it. I have three kids and after years of infertility my wife and I love them to death. I won’t pretend for a moment though that love for my children is the same as love for child rearing. Almost everyone loves their kids, almost no one doesn’t get frustrated/exhausted as parent at some point or another.

Starting s business is easier, hands down

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I feel like if I met tren in real life then we'd probably meet.

I feel like if I met tren in real life we’d probably be friends.

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Let’s say you fuck a dickGirl and later on they detransition, is it gae to continue having secks with them, or are you grandfathered in since you met them when they were a woman?

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I’ve got the same/similar clause and remember when I signed the actual docs not seeing anything specific about that. after signing over email my banker re-iterates the requirement on their end, although it never sounded like a hard requirement and I periodically have not met it since originating the loan 6mo ago with no recourse.

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My thoughts are that it’s not a labs job to verify something is covered by your insurance. It’s their job to run the tests and provide the results. It’s your job to ensure the tests are covered by your insurance.

You’ll also get no where, quickly, by telling them they are idiots (for not doing your job). You also won’t get anywhere by telling the person who answers the phone at your doctors office that they are an idiot for something someone else did.

My thoughts are that you handle this situation in a better way than you are planning to.

Find out what your insurance covers. Is it so much bc you haven’t met your deductible for the year? What does you EOB say?

Call the doctors office and make sure the labs were coded correctly for billing purposes.

Contact your insurance company and see if there was a mistake. Try disputing the bill.

Work with both parties and you may be able to get the bill reduced. If not, set up a payment plan if this is something you are unable to pay all at one time.

Be nice to the people you interact with. It will only help you.

Good luck.

Married. Gf was bad at money when I met her. I indoctrinated her first with Dave Ramsey (I don’t like him either but he’s persuasive to the uninitiated), then once she paid off her debt and saved up a 5 figure net worth I transitioned her more to the Reddit r/pf flowchart style of managing money. She went from a couple thousand of CC debt to bringing over $100k of her own hard saved money into the marriage.

I kind of shot myself in the foot though, she’s the house budget nazi now😂

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Oh, wow! Good to know. I was thinking of opening an account with them. My short list of never bank with again: Wells Fargo (one of my relatives had the extra account issue) Capital One (a foreign country fraud charge appeared on my account and they did nothing, I lost $250) Bank of America back in the days of paper checks, they cashed a payment without crediting it, charged me a late fee, got a replacement check, credited that only towards the late fee then charged a second late fee in the same month when the minimum payment was not met. Then I got the payment check back and it was cancelled the day before the first payment was due. I was out $70 bucks and hours on the phone.

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As a professional, your time is valuable, and you want to use it effectively to grow your business. Unfortunately, some potential clients may not be serious or committed to working with you, and they may end up wasting your time. Here are some signs that a potential client may be about to waste your time:

1. Vague or unrealistic goals: A potential client who is unclear about their goals or has unrealistic expectations about what you can deliver may not be a good fit for your business. If they are unable to articulate their needs or have expectations that cannot be met, they may not be serious about working with you.
2. Lack of follow-through: A potential client who fails to respond to your emails or phone calls in a timely manner or who misses scheduled appointments may not be committed to working with you. This can be a sign that they are not taking your business seriously or that they are not organized enough to follow through on their commitments.
3. Refusal to provide information: A potential client who is reluctant to provide information about their business or their project may not be serious about working with you. They may be unwilling to invest the time or effort required to develop a successful partnership.
4. Asking for free work: A potential client who expects you to do work for free or for a significantly reduced rate may not be serious about working with you. This can be a sign that they do not value your time or expertise.
5. Lack of respect: A potential client who is disrespectful or dismissive of your skills or expertise may not be a good fit for your business. If they do not respect you, they are unlikely to be a good partner for your business.
   If you notice any of these signs, it may be best to move on from the potential client and focus on finding clients who are serious about working with you. Remember, your time is valuable, and you want to use it effectively to grow your business. By being selective about the clients you work with, you can ensure that you are building successful partnerships that will benefit your business over the long term.

he met my mom I’m your brother

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Broski iam 21 , i was living little bit similar to you when I was 17 and had same concerns . The beauty of life is you never know where it can all switch up . I started going to gym , met new friends , started reading books , meditating , spending more time with myself / understanding myself , started listening to subliminals . Later started 9-5 job , after 4 months leaving the job starting a business . meanwhile meeting dreamy girlfriend . Just start . it doesn't matter how but the more steps you take forward the more doors open for you broski

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>Any article that gets posted about people struggling is met with skepticism and disbelief.

Read the report. 48% of people making $100k or more (considered high income earners in the report) are living paycheck to paycheck. The skepticism is warranted. Living paycheck to paycheck on $100k+ is financial idiocy, not some great economic crisis. The group that has actually made progress according to the report? Those making under $50k. That number actually dropped from 79% last year to 75% this year.

If the first contribution to your Roth IRA was greater than 5 years ago, then technically yes but the withdrawal rules follow this order:

1. Contributions
2. Taxable Conversions (Traditional accounts converted to Roth)
3. Nontaxable Conversion (Roth accounts)
4. Earnings

So taxable conversions have a penalty if you haven’t met the 5 year holding period from when the conversion was made would come before the Roth conversions.

This provides a good chart for a breakdown: http://retirementlc.com/wp-content/uploads/2017/07/2017-07-06-Roth-IRA-Distribution-Ordering-Rules.pdf