$UNH bloodbath continues -- and yes, we are adding

$UNH now among top holdings This represents top 25 holdings representing 78% of our investment #portfolio

Insider trading activity is just one of many data points we look at and does not mean much in isolation Having said that $UNH #insiders are buying... UNH at market cap of $264bn more than prices all the bad news and offers high expected returns for those with 2+yr time horizon

Will have overarching implications for many institutions if discounts to NAVs are as large as stated as here.

This may come as a shock to people, but the Bank of Japan is still buying JGBs every day. Now imagine what JGB yields would be without this intervention: they'd be massively higher. We live in an age where central banks are the only thing that stands between us and a debt crisis.

Been a reasonable year so far. Glad to report: 1) that we performed well above S&P while holding 20% in mix of cash and gold 2) approaching $1mn mark Top holdings today include 1) $UNH 2) $CNC 3) $JD.com 4) $GLD 5) $BRK 6) $BABA 7 $AMZN 8) $GOOG 9) $CPNG 10) $DECK

nice to add another digit reducing positions and adding $spy puts at these vol. leves

Time to reduce risk…

Glad to see #buffett with us on this ride.

#buffett and #tepper joining us at $unh position

Simple reminder that $S&P is expensive PE, P to FCF, and P/S are all near record levels Protect your $portfolio accordingly and actively risk manage

From the Financial Times article, "Private equity fundraising slides as sector’s downturn deepens: Firms are struggling to raise money even as they offer discounts to attract new investors." #economy #investing #investors #privateequity #markets

Celebrating Warren Buffett today! From Graham & Dodd to Omaha, your example reminds us that margin of safety, patience, and integrity never go out of style. Happy birthday from the Heilbrunn Center for Graham & Dodd Investing! #WarrenBuffett #valueinvesting #GrahamAndDodd