tag:blogger.com,1999:blog-2149523431587168680.post2103006602903872788..comments2024-01-16T00:12:23.220-05:00Comments on Oddball Stocks: Portfolio Strategies: LiquidityNate Tobikhttp://www.blogger.com/profile/05660387777171986124noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-2149523431587168680.post-3904683899263441882014-09-25T23:34:35.093-04:002014-09-25T23:34:35.093-04:00Hi Nate--apologies if I'm doubling my reply bu...Hi Nate--apologies if I'm doubling my reply but the one prior didn't seem to go through. Are you familiar with UDMG? Seems like a pretty ordinary doesn't-trade/related-party-heavy REIT, but has one oddball aspect that should be apparent in its 10-Qs that both makes it potentially appealing and makes it holders perhaps hesitant to talk about it. ADLhttps://www.blogger.com/profile/11578314123744054067noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-8356357924449142442014-09-25T12:20:41.271-04:002014-09-25T12:20:41.271-04:00Coal Creek, Beaver Coal, some others.. If you dig ...Coal Creek, Beaver Coal, some others.. If you dig around on OTCMarkets long enough you can discover a way to find very high paying OTC stocks. Not going to drop the secret in the public, but this is a big enough hint.Nate Tobikhttps://www.blogger.com/profile/05660387777171986124noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-15807903264081528822014-09-25T12:19:45.513-04:002014-09-25T12:19:45.513-04:00Very good points.Very good points.Nate Tobikhttps://www.blogger.com/profile/05660387777171986124noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-52720926742860363732014-09-25T12:19:32.356-04:002014-09-25T12:19:32.356-04:00Martin,
You can call or email that company, they ...Martin,<br /><br />You can call or email that company, they almost always have digital copies now. Some brokerages like Fidelity/Schwab/IB send digital statements to shareholders too.<br /><br />How do you know the information submitted to the SEC isn't made up? Many Chinese companies have done it, along with well renowned companies such as Worldcom/Enron. <br /><br />With any stock do you own research, and if something doesn't make sense, or seems too good to be true pass.Nate Tobikhttps://www.blogger.com/profile/05660387777171986124noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-82137558164231219932014-09-25T12:17:44.833-04:002014-09-25T12:17:44.833-04:00I'd google him, or google "Walkers Manual...I'd google him, or google "Walkers Manual", I did a quick search but didn't find it. I remember reading the article in January of 2012, so that search history is long gone.<br /><br />Here are some fascinating articles: http://www.businessweek.com/1996/34/b3489114.htm<br />http://online.wsj.com/articles/SB905278065897950000<br />http://www.nytimes.com/1987/09/06/business/investing-hunting-for-gold-in-the-pink-sheets.html<br />http://www.nytimes.com/1996/08/25/business/hoping-for-green-in-the-pink-sheets-but-seeing-red.html<br />Nate Tobikhttps://www.blogger.com/profile/05660387777171986124noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-82645075231724017922014-09-25T11:31:58.397-04:002014-09-25T11:31:58.397-04:00Can you cite the source of the Jack Norberg quote ...Can you cite the source of the Jack Norberg quote about a 15-20% limit on illiquid stocks, and post a link if possible? I'd like to go back and read the whole article.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-52829540281135488812014-09-25T05:42:58.989-04:002014-09-25T05:42:58.989-04:00How do you get financials of unlisted stocks, if y...How do you get financials of unlisted stocks, if you can't go to the AGM because you are no US resident. I would have to factor in some "information cost", as I do not think unlisted companies would send the annual reports to e.g. Germany. Email would be OK, too. But how do you know the information is not made up, when the company does not even file with the SEC? <br /><br />Really like your blog as a long-time reader.Martinhttps://www.blogger.com/profile/08749838473979475080noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-77104299656405691362014-09-24T13:00:18.217-04:002014-09-24T13:00:18.217-04:00I should clarify, I think expenses that you know w...I should clarify, I think expenses that you know will come up in five years or less should be in cash. For example we save cash monthly for a new car, this just goes to a savings account. It's usually five years or more between purchases, but I still keep it in cash, I don't want to have to sell stocks to buy a car.<br /><br />I keep 6mo of living expenses in cash, but I'm not living off my portfolio either. I think when one is younger a few months of expenses in cash is key, along with savings for big things, like cars, kids etc.<br /><br />The above is all cash outside of my portfolio, it's part of our net worth, but I don't consider it investable. Inside our portfolio I try to keep a straight percentage of 10% or so. This is so I always have cash available to purchase something if I want, and I'm not caught trying to sell something illiquid, or at a bad price to fund something new.<br /><br />This can be criticized, but it seems to work for me. I guess I'm 'losing' some performance, but an alternate view is that I'm enhancing my performance because I'm not selling at bad times.Nate Tobikhttps://www.blogger.com/profile/05660387777171986124noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-5010114682415390512014-09-24T10:26:36.133-04:002014-09-24T10:26:36.133-04:00What sort of rule do you use for how much to keep ...What sort of rule do you use for how much to keep in cash? When you say 5 years, do you mean 5 years living expenses in cash? <br /><br />Tweedy Browne figured it took an average of 3 years for stocks to reach fair value, so they figured if you kept that much in cash you'd most likely never have to sell your stocks at bad prices. OTOH, if you want to be ultra aggressive like a young Buffett, you'd always be fully invested as long as you can find something to put it in.<br /><br />For me neither of those makes sense all the time. The Tweedy Browne method seems too conservative, especially for people who are starting out since they'd probably have to forego investing for several years in the beginning and would end up worse off in almost all scenarios. On the other hand, following the Buffett policy seems pretty foolish for most people who aren't as smart, have people depending on them, and don't have 100% job security. I am thinking a straight percentage might be a good idea - keep 10% cash always, and step that number up during richly valued markets like today. Once you build up to a million or so then you start thinking about sitting 3 years living expenses in an acct earning 1%.<br /><br />What do you think?<br />matjonehttps://www.blogger.com/profile/15561610396121006096noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-83721602140953108202014-09-23T13:19:13.679-04:002014-09-23T13:19:13.679-04:00Nice read. Any examples of illiquid stocks you lik...Nice read. Any examples of illiquid stocks you like paying high dividends?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-7602859415546064072014-09-23T09:32:53.308-04:002014-09-23T09:32:53.308-04:00In running a finance business, as opposed to using...In running a finance business, as opposed to using cash as an individual, that bank hold period can be no joke. <br /><br />I've seen short-term liquidity scares as a result: cash is needed at a specific time (e.g., for a struggling company to make payroll), and cash needs to hit the account on a specific day or before a specific time.<br /><br />While that may seem sort of irresponsible to the average person, the reality is that there's a large swath of financial businesses that cover those types of situations. <br /><br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-34390335259466212422014-09-23T08:45:03.353-04:002014-09-23T08:45:03.353-04:00The checking and savings are held at different ban...The checking and savings are held at different banks. Your right, at the same bank it's same day. <br /><br />I do my checking via my brokerage account, and put extra cash in a savings account at a bank. Nate Tobikhttps://www.blogger.com/profile/05660387777171986124noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-69394469628838806542014-09-23T08:44:48.956-04:002014-09-23T08:44:48.956-04:00Another educational and interesting article. Than...Another educational and interesting article. Thanks!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-15596304905936985282014-09-23T08:33:01.914-04:002014-09-23T08:33:01.914-04:003 days to move from savings to checking? You might...3 days to move from savings to checking? You might need a new bankAnonymousnoreply@blogger.com