Anyone buying into the Blackstone (BX) IPO?

[HereWeGo]

1) Don’t be greedy
2) Pare your losses

My weekend assignment, to write 1 bazillion times.

[Anonymous]

devilj, do you have kids? Just curious.

The rich misnamed Mexican, Slim, made his billions buying assets at pennies on the peso during the depths of a Mexican financial crisis.

I look forward to doing the same during the depths of our upcoming financial crisis (on a markedly smaller scale, of course).

My son was happy to convert his savings over the years into some gold earlier this year; my daughter was less excited. We’ll see if my running the $400K to $7B story by her piques her interest in saving/speculating/investing.

[Anonymous]

devilj, do you have kids? Just curious.

The rich misnamed Mexican, Slim, made his billions buying assets at pennies on the peso during the depths of a Mexican financial crisis.

I look forward to doing the same during the depths of our upcoming financial crisis (on a markedly smaller scale, of course).

My son was happy to convert his savings over the years into some gold earlier this year; my daughter was less excited. We’ll see if my running the $400K to $7B story by her piques her interest in saving/speculating/investing.

[davelj]

Nope, no kids. I don’t really have any interest in kids. I’d be a horrible father. I’m too selfish. I have no nesting instinct whatsoever.

Actually, Slim’s father was extremely wealthy so he had a lot of capital to start with. Also, he was very well-connected politically which helped in his winning bid for Telmex from the Mexican government, which is the largest portion of his net worth. Also, he got to pay the purchase price to the government over a period of years with the earnings from Telmex – nice terms if you can get them. He’s a real operator. Don’t get me wrong – Slim’s done well; that’s stating the obvious. But most of his wealth stems from a set of advantages – prior wealth and political connections – that most will never have. I have a lot more respect for Buffett.

I’m in the middle of a private deal in Mexico right now so I’ve heard lots of sordid stories about Slim, Hank and the other Mexican Plutocrats… the corruption down there is truly staggering. And they’re mostly Catholics. Go figure.

Like you, I’m hoping to see lower asset prices as well. It would be good for the pocketbook as well as the long-term stability of the system. Until then, perseverance rules the day…

[davelj]

Nope, no kids. I don’t really have any interest in kids. I’d be a horrible father. I’m too selfish. I have no nesting instinct whatsoever.

Actually, Slim’s father was extremely wealthy so he had a lot of capital to start with. Also, he was very well-connected politically which helped in his winning bid for Telmex from the Mexican government, which is the largest portion of his net worth. Also, he got to pay the purchase price to the government over a period of years with the earnings from Telmex – nice terms if you can get them. He’s a real operator. Don’t get me wrong – Slim’s done well; that’s stating the obvious. But most of his wealth stems from a set of advantages – prior wealth and political connections – that most will never have. I have a lot more respect for Buffett.

I’m in the middle of a private deal in Mexico right now so I’ve heard lots of sordid stories about Slim, Hank and the other Mexican Plutocrats… the corruption down there is truly staggering. And they’re mostly Catholics. Go figure.

Like you, I’m hoping to see lower asset prices as well. It would be good for the pocketbook as well as the long-term stability of the system. Until then, perseverance rules the day…

[Anonymous]

Mexican Plutocrats. Yuk.

Catholicism is good, but it was Protestantism that gave the West its upright character. Martin Luther enabled the later English Revolution, which enabled the later American Revolution.

Unfortunately, Mexico never got the cleansing that it needed from the Protestant revolutions.

Now that large swaths of Protestantism have fallen on tough times (they will restore themselves during the depression, when they have their backs to the wall), it is vibrant Catholicism (and Baptist Fundamentalism) that safeguards the Western Christian ideals.

[Anonymous]

Mexican Plutocrats. Yuk.

Catholicism is good, but it was Protestantism that gave the West its upright character. Martin Luther enabled the later English Revolution, which enabled the later American Revolution.

Unfortunately, Mexico never got the cleansing that it needed from the Protestant revolutions.

Now that large swaths of Protestantism have fallen on tough times (they will restore themselves during the depression, when they have their backs to the wall), it is vibrant Catholicism (and Baptist Fundamentalism) that safeguards the Western Christian ideals.

[Carlmichael]

Wow I didn’t expect this in the topic, ahh! I feel so cheated bought at 37 its now at 35! I have orders to sell as soon as it hits 39.

[Carlmichael]

Wow I didn’t expect this in the topic, ahh! I feel so cheated bought at 37 its now at 35! I have orders to sell as soon as it hits 39.

[sjk]

“Google has hypernerds and an impossible-to-replicate-or-overcome product.”

Give this a try, it’s a cleaner search I think.

http://www.mahalo.com/

Regards,

[sjk]

“Google has hypernerds and an impossible-to-replicate-or-overcome product.”

Give this a try, it’s a cleaner search I think.

http://www.mahalo.com/

Regards,

[Author]

Posts