Still curious of your quest to have become who you are and your degree of success. I know you came up in the USSR. But that is about it. Did you work a fast food job? Go to college and get a Masters? Work in C suites for a bit? Just a genius resource investor? Win the lottery?
So curious...
I like what I read and you have a knack for your writing but I'm trying to size you up in my head. Good or bad that's what we humans tend to do. At least this one.
Ha. Fair enough, Gordon. I'd probably be sizing me up too.
Yes to most of it. Fast food, translation work, all the odd jobs you take when you're young and hungry. No lottery, no C suite, and definitely no genius. Then college, better jobs, learning about the world, investing, emigration and globe trotting. Then, somewhere along the way, I met a resource analyst called Lobo Tiggre through the liberty camps, and through him, Doug (who funnily enough turned out to be half Lithuanian). I've worked with him and for him for the better part of fifteen years since, the last couple on Crisis Investing before striking out on my own. I go into some of that here: https://www.snafuinvesting.com/p/i-left-the-newsletter-i-helped-build
The rest, the bits that would fill in the gaps, might make an essay one day. I'm not quite full of myself enough to write it yet. Maybe give it a few years :)
So are you still in Lithuania and are the kids going to school for a semester or year there? I appreciate your travels and commentary and Joel's work as you might include occasionally, but frankly, I'm cutting back rather than adding to my reading lists. Cheers!
Thanks, Jay. We semi-returned a couple of years ago and have tended to spend a few months of the year here since the kids started school. Fortunately, we were able to arrange a kind of part-homeschooling setup with their school that gives us the flexibility to do that. We probably wouldn’t be here otherwise, barring that and the fact that the kids’ grandparents live here.
>>I’m cutting back rather than adding to my reading lists.
Hey, thanks for keeping it vague (this post isn't paywalled). Appreciate that. Short answer: no, nothing has changed on the company side. I've looked, and there's no new company news behind today's move. If anything ever materially changes the thesis, you'll hear it from me in a monthly issue, or an alert if it's urgent. Absent that, a day like today is a chance to buy lower, depending on where your own entry sits. That's what I'm doing if it drifts back down to my stink-bid level (it's already bounced off today's lows).
"not least, the kids’ grandparents live a few miles down the road"... This was a significant decision for my family. Living at the beach in totalitarian southern California with grandparents walking distance away. Covid policies were the 'last straw' amongst a host of other indignities by the communist government there. Now the kids do not ever consider moving back because the freedom they now live with. Grandparents get a bi-annual visit via airplane. It was NOT an easy decision, one often revisited, but in the end the right one.
San Carlos de Bariloche looks ideal. Community and family look thriving. Thanks for the suggestion.
I left California with 9 friends and family members for the Midwest. Best decision ever. California has nothing left but beauty and weather. The people that I know who will not get out are going broke trying to afford that lifestyle. We left during the Planned-demic. Stilll adjusting, but all in all a great decision. Blessings!
Thanks for this, Thomas. You 100% get it. We may well end up doing the same. So far the tradeoff (and as you well know, there are no solutions in life, only tradeoffs) has been worth it. But like I said in the piece, I'm well aware we could find ourselves packing again.
As for Bariloche, I can't endorse it yet since I haven't set foot there. I'll let you know once I have. Though people I know and like have been saying good things :)
Still curious of your quest to have become who you are and your degree of success. I know you came up in the USSR. But that is about it. Did you work a fast food job? Go to college and get a Masters? Work in C suites for a bit? Just a genius resource investor? Win the lottery?
So curious...
I like what I read and you have a knack for your writing but I'm trying to size you up in my head. Good or bad that's what we humans tend to do. At least this one.
Ha. Fair enough, Gordon. I'd probably be sizing me up too.
Yes to most of it. Fast food, translation work, all the odd jobs you take when you're young and hungry. No lottery, no C suite, and definitely no genius. Then college, better jobs, learning about the world, investing, emigration and globe trotting. Then, somewhere along the way, I met a resource analyst called Lobo Tiggre through the liberty camps, and through him, Doug (who funnily enough turned out to be half Lithuanian). I've worked with him and for him for the better part of fifteen years since, the last couple on Crisis Investing before striking out on my own. I go into some of that here: https://www.snafuinvesting.com/p/i-left-the-newsletter-i-helped-build
The rest, the bits that would fill in the gaps, might make an essay one day. I'm not quite full of myself enough to write it yet. Maybe give it a few years :)
Excellent! You're slowly taking shape! 😂
Looking forward to the "bits", the juicy stuff, that will which bring you into sharper focus. Thanks for the teaser.
So are you still in Lithuania and are the kids going to school for a semester or year there? I appreciate your travels and commentary and Joel's work as you might include occasionally, but frankly, I'm cutting back rather than adding to my reading lists. Cheers!
Thanks, Jay. We semi-returned a couple of years ago and have tended to spend a few months of the year here since the kids started school. Fortunately, we were able to arrange a kind of part-homeschooling setup with their school that gives us the flexibility to do that. We probably wouldn’t be here otherwise, barring that and the fact that the kids’ grandparents live here.
>>I’m cutting back rather than adding to my reading lists.
Noted. And I appreciate the honesty!
Hey Lau
Not related to this article, but I've noticed your Uranium pick being sold heavily today, (not sure if this post is paywalled :-) )
Are you aware of anything thats changed in the thesis?
Hey, thanks for keeping it vague (this post isn't paywalled). Appreciate that. Short answer: no, nothing has changed on the company side. I've looked, and there's no new company news behind today's move. If anything ever materially changes the thesis, you'll hear it from me in a monthly issue, or an alert if it's urgent. Absent that, a day like today is a chance to buy lower, depending on where your own entry sits. That's what I'm doing if it drifts back down to my stink-bid level (it's already bounced off today's lows).
P.S. Here's my last alert on enCore, in case you haven't seen it. It lays out exactly what the problems are and what I'm watching from here: https://www.snafuinvesting.com/p/one-winner-one-rough-day-and-the
"not least, the kids’ grandparents live a few miles down the road"... This was a significant decision for my family. Living at the beach in totalitarian southern California with grandparents walking distance away. Covid policies were the 'last straw' amongst a host of other indignities by the communist government there. Now the kids do not ever consider moving back because the freedom they now live with. Grandparents get a bi-annual visit via airplane. It was NOT an easy decision, one often revisited, but in the end the right one.
San Carlos de Bariloche looks ideal. Community and family look thriving. Thanks for the suggestion.
I left California with 9 friends and family members for the Midwest. Best decision ever. California has nothing left but beauty and weather. The people that I know who will not get out are going broke trying to afford that lifestyle. We left during the Planned-demic. Stilll adjusting, but all in all a great decision. Blessings!
Thanks for this, Thomas. You 100% get it. We may well end up doing the same. So far the tradeoff (and as you well know, there are no solutions in life, only tradeoffs) has been worth it. But like I said in the piece, I'm well aware we could find ourselves packing again.
As for Bariloche, I can't endorse it yet since I haven't set foot there. I'll let you know once I have. Though people I know and like have been saying good things :)