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jtdaniel  Jeff

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  • Fidelity25 2016-04-09 17:15
    very interested in your comments on the arnb deals.. The Cigna Anthem seems to look interesting after the collapse of PFE AGN also EMC Dell - cash value is at 24.1 , any thoughts

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  • jtdaniel commented on Grahamites's article 8 hr ago
    The Other Side of the Big Short
    There have been a lot of discussions since the book “The Big Short” was published and the subsequent production of the eponymous movie. I...
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    jtdaniel 07-23 06:37
    • Hi Grahamites,

      I really enjoyed your article. The Big Short is a great read and obviously more in-depth and less dramatic than the movie. The government was encouraging financial institutions to extend mortgages to high-risk buyers in order to promote equal opportunity in home ownership. This "ownership" often took the form of interest-only or short-term, adjustable rate mortgages. Easy credit terms and lack of due diligence by lenders led to a bubble in housing prices. Many people saw this, but Burry figured out a very complex way to profit from it. He would have failed his investors by walking away from the opportunity. I am long Berkshire and admire Munger and Buffett. Even so, from my perspective it is not good second-level thinking to grant them the last word on every aspect of life. Best, dj   
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