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Mnuchin Committee on Financial Services hearing @2.01.00 onwards - all he agrees to is that there should be no implicit government guarantee if Fannie and Freddie are re privatized,rather an explicit guarantee.
Thanks Parsad. I remember reading something along the lines of principal is backed by his personal guarantee and net worth, although can't remember where. What you said makes more sense though.
I read somewhere that he did this, can anyone confirm? How long did he keep that up? What were the terms? All I can say is wow.

What happened was that Mohnish first started Digital Disruptors...using a value investing framework to invest in technology stocks.  Of course it didn't do well with tech valuations where they were, the bubble bursting, and the fact that the value framework is meant for distressed or mis-priced securities.

He felt so bad with the losses his investors suffered, he asked if they would give him a second chance and he would make their money back.  I believe only one investor did not partake, so Mohnish put in a little more of his own money in that partner's place.  I don't know about any guarantees, but he did make it up to his partners and a lot more! 

Also, even in the Pabrai Funds, any partner that stayed with him, rather than pulling their money as the fund suffered on separate occasions, are back above water or better...yes, that may not mean much to some if they simply broke even after putting money in at certain peaks in the funds, but at least he didn't shut it down and walk away like most managers do...he hung in there and made it back without reaping any fees.  Cheers!
General Discussion / Re: America 1st
« Last post by jeffmori7 on Today at 06:51:34 PM »
An absolute must-read if you care about America, by Micheal Lewis:
I read somewhere that he did this, can anyone confirm? How long did he keep that up? What were the terms? All I can say is wow.
General Discussion / Re: Fund fee question
« Last post by investmd on Today at 05:43:56 PM »
IMO, all are too expensive. Does NOT make sense to pay BOTH a management AND a performance fee. Huge challenge for a professional manger to beat the markets over time due to a number of logistics. Challenge becomes close to insurmountable when fees are factored in.

I don't know of anyone with that structure that has beaten the "best" index over a period of 10-15 years. Would suggest going with a) 0%MER and performance fee with a high water mark hurdle structure, or b) low fee manager or c)index funds.

Getting into a situation with management fee and performance fee, means getting into a lot of nebulous hedge fund structures that have not made sense to me when I have tried to understand them.

Look forward to hearing other opinions,
Investment Ideas / Re: ALS.TO - Altius Minerals
« Last post by linealdin on Today at 05:39:22 PM »

Chapada strong Q2 results: 29.1 million pounds of copper produced (Q1 26.5 million pounds).

H2 should be much stronger than H1 to hit annual guidance of 120 million pounds.

Chapada exploration update from the MD&A:

New drill programs initiated to test Suruca Southwest, which contains copper gold anomalies, and at Hidrothermalito, southeast of the main Chapada pit, also looking for copper/gold. District exploration to define Formiga copper gold mineral deposit and other targets.

maybe...I thought the same thing...
Investment Ideas / Re: AMZN - Inc.
« Last post by Liberty on Today at 05:25:24 PM »
They sure are trying lots of things:
Investment Ideas / Re: TWTR - Twitter, Inc.
« Last post by Liberty on Today at 05:20:45 PM »
My 2 cents: Twitter lacks the scale to be attractive to advertisers, as well as the data to target ads competitively (which makes them more valuable). It's a vicious cycle, because when you have crap inventory, you can't target well, and when you can't target well (because everyone's anonymous and there's so much abuse/bots), you don't get very good inventory.

If you're a big advertiser, it's much easier to go to both Google and Facebook and do a big buy that will reach everybody you want to reach than to go to Twitter and do a small buy and not be sure you're reaching the right people.

That's why I think ultimately Twitter will be bought by FB or GOOG and plugged into their existing ad networks. That's probably where it's most valuable, though maybe someone else will overpay for strategic reasons (lately that's AT&T and VZ it seems). Getting the feeling maybe the same will happen to SNAP down the road...
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