Random Chat, Thoughts, Posts, and/or Rants Thread

[ZackerySprague]

PRO-TIP: Whenever you read or hear the phrase "free training," run the other way.

But it's free training haha! Just kidding.

 

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[catcam100]

I'm new to the community. I am reading Unscripted and have read Millionaire Fastlane . I see myself in a lot of the things MJ lists that aren't good. I have everything I need for a fastlane business and haven't pulled the trigger the way I should. I look forward to getting suggestions from others. I am learning to acknowledge my small steps.
I have done in the past Chase the money and I know it doesn't working towards fixing my weaknesses and increasing my strengths.

 

[luminis_]

Charlie Munger, investing genius and Warren Buffett's right-hand man, dies at age 99

"We think so much alike that it's spooky," Warren Buffett once said of Munger.

www.cnbc.com

Damn... Warren's right-hand man and one of the smartest people who ever lived. If anyone has a chance to pick up "Poor Charlie's Almanack," I would highly recommend it. It changed my thinking and paradigm towards multiple mental models (Google that)

So close to triple digits too!

 

[Primeperiwinkle]

Does this look as sketchy to anyone else or am I missing something?

View: https://youtu.be/7YARoUuAqyo?si=lm7Q5Tn936JoqhQZ

 

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[Daniel A]

Charlie Munger, investing genius and Warren Buffett's right-hand man, dies at age 99

"We think so much alike that it's spooky," Warren Buffett once said of Munger.

www.cnbc.com

Damn... Warren's right-hand man and one of the smartest people who ever lived. If anyone has a chance to pick up "Poor Charlie's Almanack," I would highly recommend it. It changed my thinking and paradigm towards multiple mental models (Google that)

So close to triple digits too!

I was about to post about this. He recently spoke on the Acquired podcast for about an hour and sounded coherent and healthy, considering he was almost 100 years old (his birthday is January 1). Sad!

He talked about a big party he had planned for his 100th birthday around 57m20s into the talk.

Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger Hardcover – December 5, 2023

 

[ZackerySprague]

Pooper Scooper Service - Pet Waste Removal | Scoop Soldiers

Scoop Soldiers provides dog poop clean up services for residential properties & pet waste removal services for commercial areas. Contact us today!

www.scoopsoldiers.com

Pooping Removal company. I guess theirs opportunity even in the most simplest of things!

 

[monnffffiiiiiii]

RIP Charlie Munger. He was a funny guy and his life was tough. We can all learn great lessons from him.

 

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[Daniel A]

I wonder what will happen to Charlie Munger's amassed wealth now.

 

[Rabby]

Thinking about ways to say similar things without losing the meaning. In this bubble-gum translation of a passage from the Dao De Jing, which do you think makes a more clear statement? (Neither is an official published translation as far as I know, because I'm making them up as I go along, but the passage exists in various translations and original editions). Do they represent the same abstract concept to you, and if so, is the structure of the words more important, or the word choice? If not, what would you say makes them different?

Therefore the Master acts without being busy and teaches without trying to convince. He allows new things to unfold, and old things to conclude. He has without attachment. He acts without expectation. When his work is done, he moves on; and so it becomes eternal.

vs this

Therefore the Master acts without forcing and leads without argument. He accepts the beginning and end of things as they come. He makes use of them without needing to control them. He applies his will without assuming a result. When he is done, he is not weighed down by past actions; thus he may continue in perpetuity.

 

[Rabby]

Today, I had a recruiter call me about an interesting, high-salary role.

She found my profile on LinkedIn and wanted to propose me for a freelance position with one of her clients. Everything was fine until she called and asked, "Why do you want to leave your current role?" Eh, I AM NOT! Nowhere in my profile does it say #lookingforwork. You called ME to help YOU with YOUR CLIENT.

You work for a hiring manager who was obviously masturbating for half the year and, just before the Christmas vacation, realized she needed to fill a maternity leave role, even though I am sure she knew her subordinate was super pregnant a long time ago. It's not like you can hide that! In addition, she wants to fill this role within a month!

And I will be PAID to help both of you. It's a BUSINESS TRANSACTION.

What has happened in the last 10 years with recruiters and business in general? Why does everything have to fit into some higher purpose shit? Why aren't people thinking anymore before asking stupid questions? This has happened twice with recruiters hiring for this particular company.

---PS: All these were just thoughts inside my mind. Never vocalised.

Sorry for the RANT carry on

People tend to construct a narrative around anything that happens. Real life has many moments that are not attached to a story arc or any kind of thrill, drama, or much-anticipated decision. However, in the absence of any other kind of thought filling their heads, people will attempt to discover a narrative that explains "everything." And if they can't discover one, they'll probably make one up.

Edit: catching up with your other posts, I understand your confusion. European hiring cycles are quite different than in the States. I wonder if the recruiter, or some manager who handed her "hiring questions" has more experience in the US labor markets. It does sound weird. "Why do you want to work for us when we begged you to work for us at any cost?" People from the US are often shocked when they try to hire Europeans (in some countries) under European labor laws and customs though. I wouldn't be surprised at misunderstandings arising.

Maybe their replacement candidate fell through somehow, or also went on maternity leave... or maybe I'm making up narratives for them

 

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[Rabby]

I wonder what will happen to Charlie Munger's amassed wealth now.

Taxes?

 

[Rabby]

PRO-TIP: Whenever you read or hear the phrase "free training," run the other way.

Free sales pitch?

Maybe that could be one of the automatic text edits, like when we type " c e n t s" and it becomes cents [edit: it didn't this time, but I'm pretty sure it usually does. Or at least some other things get automatically link-ified]

Hello, would you like free training free sales indoctrination / two hour free lobotomy?

 

[Tommo]

Thinking about ways to say similar things without losing the meaning. In this bubble-gum translation of a passage from the Dao De Jing, which do you think makes a more clear statement? (Neither is an official published translation as far as I know, because I'm making them up as I go along, but the passage exists in various translations and original editions). Do they represent the same abstract concept to you, and if so, is the structure of the words more important, or the word choice? If not, what would you say makes them different?

vs this

The first one sounds better to me. The second one might be written by AI?
My apologies if it isn't.
Edit: Just reread them and both sound good , the first appeals to me more possibly the writing style has more appeal.

 

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[GPM]

My landlord just emailed me, they will be increasing the rent from $2,000 CAD a month to $2,500.

Rental prices are absolutely insane here. Everything is insane. I did some paper napkin math, and for me to support my wife and 2 small children's basic necessities I need a pre-tax income of roughly $73,000 a year. That's with no car payment, a single vehicle, no eating out, no clothes (kids grow fast!!!!), no phones, no internet.... Just straight up rent and food and insurance and transportation.

I'm pretty pissed about the house thing. This is a small bungalow of about 1,200 sq ft, a barely functioning yard, and a nice double car detached garage. About 18ish months ago the rent was $1,800/m. Now it's $2,500. Plus utilities have increased by 50%, insurance about 20% as well.

This house is NOT worth staying in for this price, but there is nowhere else to go near here for the price. Everything else has gone up in rent just as much. It's hit the level where I feel like I am not getting even close to an equivalent return on what I will be paying to live here.

 

[Antifragile]

My landlord just emailed me, they will be increasing the rent from $2,000 CAD a month to $2,500.

Rental prices are absolutely insane here. Everything is insane. I did some paper napkin math, and for me to support my wife and 2 small children's basic necessities I need a pre-tax income of roughly $73,000 a year. That's with no car payment, a single vehicle, no eating out, no clothes (kids grow fast!!!!), no phones, no internet.... Just straight up rent and food and insurance and transportation.

I'm pretty pissed about the house thing. This is a small bungalow of about 1,200 sq ft, a barely functioning yard, and a nice double car detached garage. About 18ish months ago the rent was $1,800/m. Now it's $2,500. Plus utilities have increased by 50%, insurance about 20% as well.

This house is NOT worth staying in for this price, but there is nowhere else to go near here for the price. Everything else has gone up in rent just as much. It's hit the level where I feel like I am not getting even close to an equivalent return on what I will be paying to live here.

There was a thread about real estate and buying as early as possible. It was controversial… but I always believed that buying a home asap was the right move.

Maybe time for you to buy? Prices are depressed with high interest rates!

And in Calgary I know you can still get a brand new house for a million bucks, which in Vancouver B.C. would make a decent down payment lol.

 

[Kevin88660]

My landlord just emailed me, they will be increasing the rent from $2,000 CAD a month to $2,500.

Rental prices are absolutely insane here. Everything is insane. I did some paper napkin math, and for me to support my wife and 2 small children's basic necessities I need a pre-tax income of roughly $73,000 a year. That's with no car payment, a single vehicle, no eating out, no clothes (kids grow fast!!!!), no phones, no internet.... Just straight up rent and food and insurance and transportation.

I'm pretty pissed about the house thing. This is a small bungalow of about 1,200 sq ft, a barely functioning yard, and a nice double car detached garage. About 18ish months ago the rent was $1,800/m. Now it's $2,500. Plus utilities have increased by 50%, insurance about 20% as well.

This house is NOT worth staying in for this price, but there is nowhere else to go near here for the price. Everything else has gone up in rent just as much. It's hit the level where I feel like I am not getting even close to an equivalent return on what I will be paying to live here.

Is that a Canadian issue or same in U.S.?

I have always been skeptical about official CPI in U.S. coming down at slightly over 3.0%.

 

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[StrikingViper69]

Is that a Canadian issue or same in U.S.?

I have always been skeptical about official CPI in U.S. coming down at slightly over 3.0%.

And Europe, rents have taken a hike up here.

I’m expecting government intervention to make the problem worse, I mean, fix it.

 

[Boogie]

Thinking about ways to say similar things without losing the meaning. In this bubble-gum translation of a passage from the Dao De Jing, which do you think makes a more clear statement? (Neither is an official published translation as far as I know, because I'm making them up as I go along, but the passage exists in various translations and original editions). Do they represent the same abstract concept to you, and if so, is the structure of the words more important, or the word choice? If not, what would you say makes them different?

Whether you are in sales and marketing, involved in a romantic relationship, or are in a position of authority, what you say, how you say it, and most importantly how it is received obviously dictate success.

In your excerpts above, we English speaking modern people might say that the masters lead by example, dispassionately follow the process to handle anything that comes up with no guarantee of an end result, and don't get pre-occupied with past successes.

It works well with MJ's teachings.

Here are two more translations of what you have. Each imparts some subtle difference in meaning.

This is from a copy I have from John C. H. Wu in the Shambhala Dragon Edition:
Therefore, the Sage manages his affairs without ado, and spreads his teaching without talking. He denies nothing to the teeming things. He rears them, but lays no claim to them. He does the work, but sets no store by it. He accomplishes his task, but does not dwell upon it. And yet it is just because he does not dwell upon it that nobody can ever take it away from him.

And another from the internet at https://www.austincc.edu/adechene/taoteching:
Therefore the Master acts without doing anything and teaches without saying anything. Things arise and she lets them come; things disappear and she lets them go. She has but doesn't possess, acts but doesn't expect. When her work is done, she forgets it. That is why it lasts forever.

 

[MJ DeMarco]

He also stated it will be his last year on SharkTank... he also bought a huge property in the middle of nowhere in Texas.

Wonder why he seems to be retreating.

 

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[MJ DeMarco]

@Kak rejoice!

 

[MJ DeMarco]

Prices are depressed with high interest rates!

Can't speak for Canada, but that isn't true in areas experiencing net migration.

If someone wants to move to bumblefuck Illinois, yea, prices have gone down. Seems to be the case in all high-tax states.

Want to move to Utah, AZ, Texas, or North Carolina? Not at all.

 

[Kak]

Can't speak for Canada, but that isn't true in areas experiencing net migration.

If someone wants to move to bumblefuck Illinois, yea, prices have gone down. Seems to be the case in all high-tax states.

Want to move to Utah, AZ, Texas, or North Carolina? Not at all.

View attachment 52712

I read this article this morning. Interesting. I have been casually home shopping, but waiting a few months might serve me well.

"They're" saying homes are 25% over equilibrium value.

 

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[GPM]

There was a thread about real estate and buying as early as possible. It was controversial… but I always believed that buying a home asap was the right move.

Maybe time for you to buy? Prices are depressed with high interest rates!

And in Calgary I know you can still get a brand new house for a million bucks, which in Vancouver B.C. would make a decent down payment lol.

Sure Calgary is cheap compared to Vancouver, but that doesn't make it a good deal. I have not seen houses come down even 1 dollar with the increased interest rates.

I am pretty sure Canada's net population growth far exceeds new home development, by a fair margin.

I just don't see the value in it. I can (and am looking) get a home or land 100m from the ocean in Mexico for well under 300k. For a decent nothing fancy home in Calgary it's 800k. For something with a yard for the kids and it being renovated it's 1m+. Interest rates be damned.

I think I would also see more value in owning my own rental properties, rather than my own home. Maybe I'm nuts though.

 

[OMDA]

Is that a Canadian issue or same in U.S.?

I have always been skeptical about official CPI in U.S. coming down at slightly over 3.0%.

Feb 2020 I got a place to rent in FL for 1400something a month. The same place, which is <750 sqft, is now pushing 2400/month. When the lease renewal came up late last year I started searching and was able to get a place almost 3x the size to buy, albeit not in downtown like I had been. If I hadn't done that I don't know how my fiancee would have been able to move in together, as the supply is very low and rents are hard to justify.

But yes, per experts like Krugman, inflation is over and "We won", especially when you don't count things like shelter, food, energy, or other things you need to live

https://x.com/paulkrugman/status/1712494317024026761?s=20

 

[Antifragile]

Sure Calgary is cheap compared to Vancouver, but that doesn't make it a good deal. I have not seen houses come down even 1 dollar with the increased interest rates.

I am pretty sure Canada's net population growth far exceeds new home development, by a fair margin.

I just don't see the value in it. I can (and am looking) get a home or land 100m from the ocean in Mexico for well under 300k. For a decent nothing fancy home in Calgary it's 800k. For something with a yard for the kids and it being renovated it's 1m+. Interest rates be damned.

I think I would also see more value in owning my own rental properties, rather than my own home. Maybe I'm nuts though.

In some ways you are sucking and blowing at the same time.

On the one hand you are saying that no houses came down even $1 with the largest rate hike in decades (and remember that borrowing rates have the greatest influence on the market pricing of any other lever... as they typically change demand downwards). And you are acknowledging that population growth in Canada far exceeds new dwellings additions... meaning, more demand keeps coming to a constrained supply!

On the other hand you are saying that all of the above doesn't make it a good investment and you see no value in it.

Which one is it?

And with respect to rental vs your own home, just from the fact that any gain in your principal residence is tax free in Canada... should make you think twice about any rental before owning your own home.

Can't speak for Canada, but that isn't true in areas experiencing net migration.

If someone wants to move to bumblefuck Illinois, yea, prices have gone down. Seems to be the case in all high-tax states.

Want to move to Utah, AZ, Texas, or North Carolina? Not at all.

View attachment 52712

Similar here, MJ.

It's a crazy complex picture here that no headline could describe accurately. But the population growth in Canada is record setting high! Highest of any G7. And our supply of dwelling units is lowest of G7 - it's a perfect storm.

That said, unlike in the USA - our banking system is different. The most you can lock your rate is 5 years. Even on a 30 year loan, your rate is fixed for max 5 years. Most people didn't even fix it for 5, most were variable! So they are already hit with 3x the rate they had. More are coming in 2024 and 2025 renewal years when ALL mortgages locked in at the close to zero rates of 2020 will have been renewed.

As a result, there has been an adjustment in pricing for residential RE downward. In our neighbourhood we've been looking at listings and then watching actual transactions. They are consistently selling $1MM less than ask on a $5-6MM properties. Luxury condo market has always been high risk and is currently dead (or looks that way to me).

Your typical house across Metro Vancouver area is also down from the peak pricing even with this limited supply.

Put it another way, for near zero borrowing rates a person could qualify for a mortgage of almost 5x their income. Say $100,000 x 5 = $500,000 mortgage, plus downpayment of $200,000 and you have $700,000 property.

Now, with new rates the qualifying amount is more like 3x... that's a $200,000 gap in additional equity needed for the same property price.

Consider how this affects the renewals, let alone new buys. New buyers can't reach the equity needed.

Short story long, it's a complicated picture here. Lots of people want to own here, but can't. Supply is constrained and prices are sticky, but deals come up.


Edit: found the thread as it was just bumped!

GOLD! - ASSERTION - Why you should buy a home as early as possible.

I know that this may be a controversial topic, but I want to give you a few examples of people that I know that are slowlaners but are actually doing very well vs. some aspiring "fastlaners" that aren't anywhere in the same position. This topic came to mind when another friend was shocked when...

www.thefastlaneforum.com

 

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[MRiabov]

FullCook is looming, people...

Frying, mashing, boiling, cutting capabilities done, movement system work in progress.

All what's left is input/output, dishwasher and a peeling system (mapped out too)

@Johnny boy can't resist tagging you on this one, hehe

 

[Jrjohnny]

Is that a Canadian issue or same in U.S.?

I have always been skeptical about official CPI in U.S. coming down at slightly over 3.0%.

Mostly canadian, probably because our prime minister says stuff like:

“Getting that vaccine was an amazing feeling!”

“The budget will balance itself out” (as were in a 1.5 billion dollar deficits and instead of putting more money to Canada, he donates millions to billions to Ukraine and other places)

“Let’s make Canada affordable!” (As he proceeds to double rent costs and drives up interest rates)

My landlord just emailed me, they will be increasing the rent from $2,000 CAD a month to $2,500.

Rental prices are absolutely insane here. Everything is insane. I did some paper napkin math, and for me to support my wife and 2 small children's basic necessities I need a pre-tax income of roughly $73,000 a year. That's with no car payment, a single vehicle, no eating out, no clothes (kids grow fast!!!!), no phones, no internet.... Just straight up rent and food and insurance and transportation.

I'm pretty pissed about the house thing. This is a small bungalow of about 1,200 sq ft, a barely functioning yard, and a nice double car detached garage. About 18ish months ago the rent was $1,800/m. Now it's $2,500. Plus utilities have increased by 50%, insurance about 20% as well.

This house is NOT worth staying in for this price, but there is nowhere else to go near here for the price. Everything else has gone up in rent just as much. It's hit the level where I feel like I am not getting even close to an equivalent return on what I will be paying to live here.

“Let’s make housing affordable..” he said.

 

[Aidan04]

Mostly canadian, probably because our prime minister says stuff like:

“Getting that vaccine was an amazing feeling!”

“The budget will balance itself out” (as were in a 1.5 billion dollar deficits and instead of putting more money to Canada, he donates millions to billions to Ukraine and other places)

“Let’s make Canada affordable!” (As he proceeds to double rent costs and drives up interest rates)


“Let’s make housing affordable..” he said.

The US isn't any better. Some places are better than others but it's still the same overall trend.

 

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[Jrjohnny]

The US isn't any better. Some places are better than others but it's still the same overall trend.

True, but when you look at the numbers, it’s crazy.

Rent for a 1 bedroom apartment - +120%

Mortgage - +137%

Req. Downpayment - +130%

Up to a 150% increase on foodbaank reliant civilians.

After all this? He doesn’t care.

but just wanted to share some statistics. Anyone got a country that could beat Canada?

I dare you to come forth

 

[biophase]

I'm pretty pissed about the house thing. This is a small bungalow of about 1,200 sq ft, a barely functioning yard, and a nice double car detached garage. About 18ish months ago the rent was $1,800/m. Now it's $2,500.

That is a 38% increase.

Plus utilities have increased by 50%, insurance about 20% as well.

You say utilities have increased 50%.

But it seems like the rent increase bothers you but the utility increase, not so much. I mean, why is the electric worth 50% more now? It's powering the same devices. You aren't getting 50% more enjoyment from your TV with this more expensive power?

Everything has gone up. You can't just pick and choose which ones to complain about. Basically you should have been hedging for this by loading up on assets that increase with inflation.

This house is NOT worth staying in for this price, but there is nowhere else to go near here for the price. Everything else has gone up in rent just as much. It's hit the level where I feel like I am not getting even close to an equivalent return on what I will be paying to live here.

But the electric is still worth paying for...

Just trying to get you to see that it is not a rent or real estate problem. It's really just a money problem.