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Chris Maurer
553 posts
Chris Maurer
@chrismaurer
A lifetime of equity market scar tissue and mental anguish. Volunteer soccer coach. Not investment advice.
Canada Katılım Kasım 2008
753 Takip Edilen769 Takipçiler
I just went down to my golf course. They have drained one of the lakes and I found 317 balls
AMA
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Breaking out the big gun for today's @OKCJrBlazers game. My 95-96 Championship "Swervin" Mervin Kopeck jersey. #WSHL
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@_ToddBeane i literally said this verbatim this weekend after a loss in a U13 game.
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Dear Parents...
Your child will lose several soccer matches over the years ahead.
I have found that kids can handle this fact just fine. They play; they move on.
If you can not handle this reality, figure it out and get on with it.
#TOVO
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@tommacinnis Further, on-brand acquisitions that extend an existing strategy should be rewarded assuming they have industrial logic and you didn't over pay for them. Acquisitions that pivot the company should only be rewarded in time with proper execution. Seems simple, harder in practice.
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@chrismaurer Chris Maurer enters the chat! Thx I agree - There's a long history of outperformance by owning the stronger 'franchises'. They are 'multiple expensive' for a reason. Cost of capital is life in a capital intensive business. Market has a long memory.
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When the market rewards M&A, there will be more M&A. Hard to argue market wants M&A when we've seen little but pain for those that have acquired. Multiples for buyers need to increase and multiples for sellers need to decrease. Accretive M&A will be the result.
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@JoeBlowPremium generally speaking the front end of the curve moving from backwardation to contango is a good indication of a weakening in the physical market.
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@MPelletierCIO In theory a strategy of "no growth, FCF, eat yourself with buybacks" makes a ton of sense on a micro basis, but to think that an entire global industry would never grow again when the profit incentive to do so is so robust doesn't match so well with the history of markets.
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BTW, I don't blame CTAs and Algos, they provide liquidity to the market while compounding moves to the upside and downside. However, I do blame a lack of discipline by U.S. oil and natural gas producers not listening to investors wanting cash flow paid out and not redeployed. This minimizes risk in a very risky sector. And yet despite the higher highs and lower lows compounded by CTAs, its all about bringing on more production.
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@HannahFrankman Kids hate going to bed. We always gave our kids the option of going to bed “on time” or spending 30 mins reading and “staying up”. They always choose to read. Probably the easiest hack I know of to create kids that love to read.
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Parents/teachers: what are your favorite resources for teaching kids to read?
Books, programs, methods, etc.?
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@dollarsanddata I mean, this is not just in retirement... relationships and a sense of purpose is basically the solve for the human condition throughout life.
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@trevor_rose_ Ask him about his time building Tristone. That could probably fill the entire hour.
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$CDR $BNP $PEA Any questions for BoD Andrew Judson on the next podcast? #energy #investing
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@JStews3 Use it as you like. It's hard earned wisdom from years of volunteer coaching and being a sport parent, happy for you to use it as you see fit.
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@chrismaurer I’m going to copy and paste this response. I’ll give you credit for the next 5 times I use it, and after that it’s mine…
Deal?
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What is sport actually about then?
Paul Dalglish@DalglishPaul
Staggering stats. 97% of former cat 1 academy players now aged 21 to 26 never made an EPL appearance. 70% weren't handed a pro contract at an EPL or EFL club. And only 1 in 10 went on to make more than 20 league appearances in the top four tiers of English football.
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@dollarsanddata Talking about valuation without the context of the underlying profitability of the asset (or index) is useless. If the businesses that make up the index are more profitable then those that came before them then they deserve a higher valuation.
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"All the valuation metrics tell the same story—U.S. stocks are overvalued, therefore, we should expect a major crash as these metrics return to their long-term historical averages."
My latest on the problem with valuation:
ofdollarsanddata.com/the-problem-wi…
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@tomsan106 The challenge being, that you need to understand all the complicated stuff before you can truly believe that the simple stuff is all that matters.
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People try to complicate things instead of trying to make things simpler. I suppose it’s human nature for someone to believe that they will be seen as smarter for coming up with a solution which is more complicated vs, “it can’t be that easy?”
Simplicity is, Sophistication.
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Stop comparing 100% of your reality with the 5% that others show you of theirs.
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