abhishek ( @abhishec_s ) Twitter Profile

abhishec_s

abhishek

Investing | Productivity | Happiness.

Joined on 8 October, 2015

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For me value is primarily financial. For somebody else it could be emotional. And it’s fine.

But don’t justify an emotional/aspirational purchase by assuming it’s the correct financial decision.

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If you don’t want to own a home or if it doesn’t make financial sense to you — you are not alone.

I think home ownership is overrated.

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I would spend 20%/30% of my savings (no debt) on a home under protest (sometimes family wins).

But I look at a house exactly the same way as I look at stocks or pretty much anything in life.

Is value > price?

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It’s difficult to do intelligent things with money. Most people tend to do stupid things when flush with cash.

So a relatively/historically safer alternative is buying a home.

And there is an emotional component.

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You can insure for life. Even for disability. What about large medical expenses? What about unemployment?

In the 2008 the value of my home was less than the mortgage on it. And I had to take a 30% salary cut. I was lucky. Many lost their jobs.

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“Home prices are more stable than stock prices”. Well they are not quoted daily!

It’s a levered investment that has done well in the past. Has worked well for a whole generation. Is that the end of the argument?

Leverage cuts both ways.

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On Home Ownership

We penalise companies with debt. Even companies in stable industries and predictable cash flows. Why?

At the same time we don’t give it a second thought before putting up all our savings as downpayment and taking a 20 year home loan.

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Even in metros where rentals yields are 1.5%/2%!

“Interest rates are low hence you should buy a home”. If somebody gave you a 10 year secured loan at 5% would you buy your highest conviction stock with that debt?

Why not? How much margin or safety would you need for this?

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Quoted @morganhousel

What is the most powerful and consistent law of investing?

The axioms are:

1. A dollar today is worth more than a dollar tomorrow.

2. You make money by buying something that is worth a dollar for less than a dollar.

Rest is commentary.

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People pay a premium for Evian bottled water.

Evian spelled backwards is ...

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Compared to the other problems these larger multinationals navigate mistranslation seems like a trivial/avoidable problem. Surprising how frequent they are.

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Coca Cola had to try 40k characters in China before getting it right. Some initial attempts were disasters:

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Pepsi in 1960’s wanted to say, “Come alive. You are in the Pepsi Generation”.

In both Mandarin and Cantonese it was mistranslated into:

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Own it.

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Ford in Belgium and Brazil.

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Coors very successful tag line was “Turn it loose”.

Spanish (next only to Mandarin) has generally been a graveyard for many such campaigns.

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The world’s largest, most marketing savvy company wanted to say “This is 7”.

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HSBC spent $10 MN in 2009 to change its slogan from “Assume Nothing” to “World’s Local Bank” as the former in many countries was translated to:

“Do Nothing”

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“Finger Lickin' Good” from KFC in 1950s was mistranslated into Mandarin as "Eat Your Fingers Off”.

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My threads on Investing:

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