Urban Trade Breakdowns

I  never liked the use of the word “investor” in the financial press. I find it offensive. If you were to create a word-cloud visualization of the language used on wsb, I bet “investor” is largely absent or in the very fine print. And that’s because no one pretends wsb is an investment forum. Investment forums are fucking boring. Jack Bogle and all that shit. Diversification and low-fee indexes. Fucking AOL shit. So when Charlie Munger, the co-godfather of boring-ass value investing says “I would be comfortable putting 100% of my net-worth into one stock”, what the fuck does that mean? I mean, he’s old as fuck so maybe that’s just ancient crazy talk. Way back in our Magnavox black-and-white vacuum tube history, before algo trading and 401K’s and QE, the market was way easier, right? Back in those days, you could buy a railroad stock in a booming economy growing 30% a year and throwing off shitloads of free cash flow at a PE of 2. Well duh, I’d do that too. But today, with the S...