• Krugminator2's Avatar
    Today, 07:35 PM
    Corporate raiders are investors though. They are value investors. They are buying something for less than intrinsic worth and looking to unlock that value. The ability to liquidate a company is ultimately what tethers stock prices to reality. Most people don't realize Warren Buffett was a corporate raider. Sanborn Maps was one of his early companies he got on the board of and forced changes. Bershire Hathaway (the textile company) was an example of corporate raiding which he didn't break up and it turned out to be his number 1 worst investment ever. (The textile business went bust.) https://www.fool.com/investing/2016/10/05/warren-buffetts-worst-investment-of-all-time-will.aspx The Father of Value Investing and Warren Buffett's teacher, Benjamin Graham, basically popularized the idea of corporate raider. https://www.businessinsider.com/benjamin-graham-was-the-first-shareholder-activist-2016-6
    145 replies | 1773 view(s)
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    12-08-2019, 09:32 PM
    Current inflation rate: 1.6% Would seem your statement is laughably untrue.
    5 replies | 1066 view(s)
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    12-08-2019, 10:50 AM
    Krugminator2 replied to a thread MyPillow in Open Discussion
    I tend to think that is true. That said, I bought a Casper mattress a few years ago because constant advertisement caused me to research and am very happy with it.
    20 replies | 213 view(s)
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    12-08-2019, 09:37 AM
    The SEC is a minefield. They have five of the top 10 or so teams. It makes no sense to penalize teams because of where they are located. I would eliminate these conference championship games because they often add a loss to already tough schedules. ESPN's computer rankings have Oklahoma number 9, despite winning the Big 12. Oregon as PAC-12 champ is 7th. http://www.espn.com/college-football/statistics/teamratings The Sagarin Rankings have Oklahoma 5 and Oregon 8. http://sagarin.com/sports/cfsend.htm
    11 replies | 124 view(s)
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    12-07-2019, 11:19 PM
    Top 3 teams are probably pretty close. Whoever plays Oklahoma will have an advantage.
    353 replies | 7163 view(s)
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    12-07-2019, 04:51 PM
    Not really. Obviously they give some consideration. They don't put Appalachian State in the mix. But they vastly underestimate play against quality opponents. Utah is maybe a top 15 team. They are roughly as good as Iowa. Had they beaten Oregon and Georgia lost they likely would have made the playoffs. Baylor is a top 20 team not a team they had a playoff chance. Alabama, on the other hand had small losses to LSU and Auburn. Alabama might be the 4th best team but they are 11 CFB rankings. ESPN's computer rankings have them better than LSU, even though they lost to LSU and have two losses. Minnesota was in the top 10 for a long time. Minnesota had one score wins against South Dakota State, Fresno State, Georgia Southern and Purdue. They are the 6th best Big Ten team but got overrated because they hadn't lost until late. They should have oddsmakers make the rankings. The winner of Memphis and Cincinnati is going to the Cotton Bowl. Cincinnati would be an even match up against Michigan State (6-6) or South Carolina (4-8).
    353 replies | 7163 view(s)
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    12-07-2019, 03:12 PM
    College football needs to revamp rankings to put more weight on strength of schedule. The idea that Utah or Baylor or Minnesota should have ever been talked about as playoff teams or even top 10 teams is ridiculous. They have 1 win vs top 25 opponents. At the same time 3 loss teams like Auburn and Michigan are better than all three with stronger wins but are penalized for playing super tough schedules. The ESPN computer rankings are a much closer reflection of reality. http://www.espn.com/college-football/statistics/teamratings
    353 replies | 7163 view(s)
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    12-07-2019, 09:40 AM
    Burrow will win. But OSU has the best player in college football Chase Young and Fields and Dobbins will be top 10 in voting. Bama and Clemson are the programs but OSU is a very close 3rd. Won a championship in 2014 and in contention every year.
    353 replies | 7163 view(s)
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    12-06-2019, 11:38 PM
    LSU obviously has a case for number one based on resume. But OSU has three guys who will finish high in Heisman voting. OSU is one of the best college ever assembled. Doesn't mean they will win. But LSU doesn't much defense. Hard for a fair minded person to say they are better.
    353 replies | 7163 view(s)
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    12-06-2019, 11:15 AM
    I could name dozen regulations off the top of my head that exist only so government can impose a burden on people with little benefit.. The only regulations that make sense are where you don't have clear property rights where someone can't easily be sued if they impose a cost. Environmental regulations are an example. No one owns the air. If someone pollutes chemicals it can be hard to prove someone is harmed on the individual level even if you know in aggregate people die. You probably need some minimal regulation in banking because people abuse leverage and have a taxpayer backstop with the Federal Reserve and deposit insurance. Those are the only examples I can think of. Regulating taxis would answer your first question. Cities restrict licenses which makes them worth hundred of thousands in big cities. They serve no purpose other than to limit competition. It costs $600k to get a license in Boston. Who is helped by that other than the monopolists who lobbied for it? Uber demonstrates you can get a cheaper, non-piss smelling ride without government. https://en.wikipedia.org/wiki/Taxi_medallion Drug laws whether for legal or illegal drugs. Tufts university estimates it costs $2.6 billion to get a drug through the FDA regulatory process. https://www.policymed.com/2014/12/a-tough-road-cost-to-develop-one-new-drug-is-26-billion-approval-rate-for-drugs-entering-clinical-de.html This causes huge costs which limits access to drugs and it also keeps good drugs off the market for longer than necessary. If a cholesterol drug saves 2000 lives a year but takes five more years to approve because of regulation, that means the government just killed 10,000 people. https://www.forbes.com/forbes/2011/0214/opinions-steve-forbes-fact-comment-fda-may-kill-millions.html#6ac5629a1bbc
    18 replies | 2874 view(s)
  • Krugminator2's Avatar
    12-05-2019, 01:18 PM
    So you think a lot of people are furious about doubling their money? A lot of mergers are a disaster and destroy value. Many create value. Charles Koch has built Koch Industries on successful mergers. He has created hundreds of billions of value to society as a result. But it wasn't a pump and dump. The stock rose and stayed high. The service he provided was a better allocation of resources for the owners of Cabela's and presumably society because trade is win-win.
    145 replies | 1773 view(s)
  • Krugminator2's Avatar
    12-05-2019, 12:48 PM
    Right. That is why guys like Singer and corporate raiders or shareholder activists are so important. They provide a voice that otherwise doesn't exist with spread out shareholders and impose a discipline on business. Gekko very astute. See last point. I don't know anything about this situation. But often companies don't get bought out because that means redundant employees (namely management) get fired. You don't need two CEOs, two CFOs, etc. Boards are often just management cronies. People like to protect their jobs even if it is bad for the company.
    145 replies | 1773 view(s)
  • Krugminator2's Avatar
    12-05-2019, 07:47 AM
    Have never heard of him until now but he looks like a pretty smart guy and someone who should be celebrated. Would make sense if previously expressed interest in buying Cabela's and had some reason for not doing. Not sure how Singer was necessary to make the process move along but maybe. If things buying his major competition is the right thing, then good for him. I didn't want to combine multiple posts like this post. More a general statement of the sentiment of this thread. That said, I would take slum lord as a compliment. I lived an apartment for a long time run by a slum lord. Paint completely peeled off the bathroom wall, ratty carpet, refrigerator that didn't work, linoleum that peeled up. Super cheap rent. $400/mo in a higher cost area. Was great for me at that point in my life. Slum lords and corporate raiders are heroes as Walter Block might say. https://www.psychologytoday.com/us/blog/defending-the-undefendable/201009/defending-the-slumlord
    145 replies | 1773 view(s)
  • Krugminator2's Avatar
    12-04-2019, 09:45 PM
    Wasn't tough. A quick Google search shows that there has only been one hedge fund bailout in history and that wasn't even a real bailout because investors in it lost basically everything. I don't even know how a hedge fund would get a subsidy. Very weird the hatred finance gets. I remember Ron Paul commending Mitt Romney's background. I guess this really is Pat Buchanan/Dotard Forums now.
    145 replies | 1773 view(s)
  • Krugminator2's Avatar
    12-04-2019, 09:25 PM
    Number of bailouts taken by hedge fund managers in the last twenty years: Zero Amount of money Paul Singer has made from government bailouts: $0
    145 replies | 1773 view(s)
  • Krugminator2's Avatar
    12-04-2019, 09:21 PM
    Vulture capitalism isn't something that exists. It's a Bernie Sanders word. And Singer was involved in a mutually beneficial transaction. Bass Pro Shop made an offer for the company. The board of directors of Cabela's accepted.
    145 replies | 1773 view(s)
  • Krugminator2's Avatar
    12-04-2019, 09:12 PM
    Sorry. I thought this was libertarian forum. Perhaps I mistakenly believed property rights and voluntary transactions were a core part of that.
    145 replies | 1773 view(s)
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    12-04-2019, 09:05 PM
    He can't force people to do anything.I don't know a ton about him. But I did read a biography on Carl Icahn. He looks for depressed companies. Buys a big stake. Gets on the board. And works to get other like minded people on the board through shareholder wide votes. And through that makes the changes necessary. It might be cutting costs, firing management, or looking for a competitor to sell the business to at a premium. I really don't know why that could be construed as bad. Management and employees might not like but there is a reason the business is undervalued. Guys like Singer and Icahn force business to be more efficient which ultimately makes society better off.
    145 replies | 1773 view(s)
  • Krugminator2's Avatar
    12-04-2019, 08:52 PM
    But if you own a big share of the business like Paul Singer, you get a big say. He bought it at $38 and the company sold for $60. Hard to see anything wrong with that. And if someone starts a business and wants to control it, they don't need list it publicly and sell off most of their shares, now do they?
    145 replies | 1773 view(s)
  • Krugminator2's Avatar
    12-04-2019, 08:40 PM
    I tend believe markets and property rights work very well. A business' sole reason for existing is to make money for the people who own it. Shareholders own the company. What's more interesting to me is how you think dog licenses and vouchers are tyranny but people who own property and want to increase its value are doing something wrong.
    145 replies | 1773 view(s)
  • Krugminator2's Avatar
    12-04-2019, 01:56 PM
    Tucker is just a politically incorrect Elizabeth Warren. This is fact-free economic illiteracy. My takeaway is Tucker wants to prop up failing companies and have employees and management loot the company dry until bankruptcy leaving shareholders with nothing and he doesn't want people to lend distressed countries and companies money. And he is apparently against people making money by creating efficiencies if it means employees are fired or have to move. What a retard. Embracing this garbage is the worst thing that could happen to the right. The socialist-protectionist-racialist right is not what is going to make America great. I honestly for the life of me don't understand what these people are bitching about. You have a company that is undervalued. Guy takes stake in company to get it sold for more than it is currently worth. Company gets sold. Guy makes a lot of money by making a correct bet. The company making the purchase moves the headquarters to a new location from Nebraska. Okay? Seems like this is how things are supposed to work. https://www.msn.com/en-us/news/us/the-death-of-sidney-nebraska-how-a-hedge-fund-destroyed-a-good-american-town/ar-BBXIPKI "Employees at Cabela’s/Bass Pro who do not relocate to Springfield will be offered severance and outplacement support." http://sandhillsexpress.com/state-news/this-is-extremely-sickening-bass-pro-cabelas-eliminating-118-more-jobs-in-sidney/
    145 replies | 1773 view(s)
  • Krugminator2's Avatar
    12-03-2019, 07:02 PM
    Kind of remarkable that Umich lost three guys to the NBA and have a bunch of no names and have gotten off to this good of start with a first time head coach.
    21 replies | 235 view(s)
  • Krugminator2's Avatar
    12-01-2019, 07:39 PM
    Clicked on your crackpot site link. Took one look. Not reading anything on it. Do better. Don't care even a little bit about where the CDC gets money. Googled "unavoidably unsafe" and that case and apparently that is what nutters interpreted that ruling as.
    128 replies | 2417 view(s)
  • Krugminator2's Avatar
    12-01-2019, 07:30 PM
    Is licensed. Here is he is performing surgery October 2nd, 2019. https://spectrumnews1.com/ky/lexington/news/2019/10/02/senator-rand-paul-does-eye-surgery-pro-bono- Board certification is not a license. And he passed board certification first try and would have zero trouble passing again. He never had any issue with that. He formed a competing board so he got smeared for that. I am pointing out he a doctor who went through medical school. The onus is not on me to prove the safety and efficacy of vaccines.
    128 replies | 2417 view(s)
  • Krugminator2's Avatar
    12-01-2019, 06:58 PM
    If you could point out a contradiction that would be great. And Rand Paul is a licensed medical doctor. Who are you? Rachel Maddow? He still practices pro bono. Also Duke Med School grad. Where did you attend? Johns Hopkins? Harvard? Also still waiting on that reputable site that says vaccines are dangerous and there is a good reason not to vaccinate. Just one site would do.
    128 replies | 2417 view(s)
  • Krugminator2's Avatar
    12-01-2019, 06:47 PM
    No contradiction. 86% are for mandatory vaccination. A significant percentage of that remaining 14% like Rand Paul would say vaccines are safe and parents should be strongly encouraged but not required to vaccinate. I can't find the exact percentage of doctors and researchers who say they are dangerous. I am guessing pretty low. I can't find ANY reputable site that says they are dangerous. Whereas the Mayo Clinic, AMA, Stanford, CDC all say they are safe. If you could point to a reputable place that says parents shouldn't vaccinate that would be great.
    128 replies | 2417 view(s)
  • Krugminator2's Avatar
    12-01-2019, 06:45 PM
    I think so. The government's role would just be writing a check not the administration of education. I don't see a very good alternative. In theory, I would be for just eliminating any government role in education. But in practice, I realize many kids have negligent parents. Education is the only way those kids will have any chance in life. So I am for a voucher system.
    128 replies | 2417 view(s)
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  • Krugminator2's Avatar
    12-01-2019, 06:35 PM
    That's kind of the problem with government schools in the first place. It is one more reason to expand vouchers. Not a reason to give into people with fringe views.
    128 replies | 2417 view(s)
  • Krugminator2's Avatar
    12-01-2019, 06:28 PM
    86% of doctors support mandatory MMR vaccination (which I do not). https://www.pewresearch.org/science/2015/01/29/public-and-scientists-views-on-science-and-society/#_Chapter_3:_Attitudes Given that you don't have an understanding of mandatory and voluntary, you should spend some more time exploring libertarian ideas. Public school is optional. No one is forced to go.
    128 replies | 2417 view(s)
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