What I've learned since moving to D.C. (some of which should be obvious): 0158

7851.  Goats can eat poison ivy and poison oak. . . . Who knew?

7852.  A superior cost structure is often fundamental to a business’ sustainable advantage;

7853.  For an airline, first-class pilots are essential so costs are very people-intensive;

7854.  In the carpet business, only 15% of costs relate to employees.  The big cost is the raw materials, the fibers;

7855.  In the insurance business, the big cost is future claims, which involves a lot of estimating because claims might be paid 5, 10 or 20 years later;

7856.  In retail, the big cost is rent with labor being a significant secondary cost;

7857.  The big cost can vary enormously by the type of business you’re in;

7858.  The key to investing is to understand a company’s costs and why it’s got a sustainable edge against its competitors;

7859.  The big problem with airlines is not so much aggregate revenue, but whether your average costs are out of line with your competitors.  Since the airline travel is pretty much a commodity business, costs are the key factors.  The biggest cost is labor;

7860.  The figure to look for with airlines is cost per available seat mile and the cost per occupied seat mile;

7861.  In airlines, as with many other industries in a capitalistic society, business will eventually gravitate to the low-cost player;

7862.  Warren Buffett suggested that for those who believe U.S. businesses will do well over time, dollar-cost-averaging into a broad-based index is a reasonable approach;

7863.  Charlie Munger noted that many corporations have large mergers and acquisitions departments spending huge amounts of time to do huge amounts of due diligence.  Yet at least two-thirds of acquisitions are duds;

7864.  It is helpful to list the qualities you would want in a friend and then seek to instill those qualities in yourself;

7865.  It’s a matter of choice (and) not DNA.  Anyone can develop good character and quality lifetime habits;

7866.  Warren Buffett recommended realism in defining one’s circle of competence and discipline to stay within the circle.  It helps to insulate yourself from popular opinions.  You’re better off sitting and thinking;

7867.  Read a lot of annual reports.  Learn accounting by reading good business articles especially those on accounting scandals.  Try to know how the numbers are put together.  If you cannot understand it, it is probably because management doesn’t want you to understand it.  Management always obfuscates the facts for a reason;

7868.  Warren Buffett warned investors if management refuses to expense options or has fanciful pension assumptions they will likely take the low road on other matters as well;

7869.  Charlie Munger advocates developing a temperament of owning securities without fretting.  If you focus on the price, you are really saying that you believe the market knows more than you do.  If you think of the value of the business instead of the price, you will sleep better;

7870.  Investing should be more like pari-mutuel betting, where you need only be right a few times as long as you don’t take a big loss;

7871.  Don’t poke Elizabeth in the cheek when she’s sleeping;

7872.  Anything I’ve ever done that ultimately was worthwhile initially scared me to death;

7873.  Sports are the main way in which people in the modern world actually achieve altered states of consciousness;

7874.  It’s a professional who shows up and does the work.  It’s an amateur who waits to be inspired or waits until they feel like it;

7875.  Life hack: At Starbucks, order a café misto for 50 stars instead of a handcrafted drink.  Make it a venti and add as many add-ons (including espresso shots) as you like.  Once you checkout, all of the additional charges are removed and it’ll only be 50 stars (for brewed hot coffee v. 150 stars for a handcrafted drink);

7876.  Elizabeth played a lot of Pac-Man growing up;

7877.  For inflation strategies, Warren Buffett suggested, as a first line of defense, one increase his/her earning power.  If you’re the best surgeon or the best plumber in town, your wages will more likely be indexed to inflation;

7878.  As a second strategy, (Warren) Buffet recommended owning businesses that can price through inflation and have low capital expenditures to maintain the business;

7879.  The worst sorts of businesses to own in an inflationary environment are ones that require a lot of capital to stay in the game and provide no real return;

7880.  While gold may be a refuge from a declining currency, (Warren) Buffett observed that is true for any physical asset;

7881.  Charlie Munger noted that Berkshire Hathaway does no asset allocation.  They merely go where the opportunities are regardless of categories and that is totally out of step with modern investment theory;

7882.  Regarding modern asset allocation, (Charlie) Munger noted, “If a thing is not worth doing at all, it’s not worth doing well;”

7883.  Apparently, state inspections are free if you bought your car at Brown’s Alexandria Mazda;

7884.  It is hard to fail, but it is worse to never have tried to succeed;

7885.  On Thursdays, Dave & Buster’s (DaveAndBusters.com) has unlimited wings and video game play for $19.99 from open to close;

7886.  (Out of all of the concerts I’ve been to) who has the oldest fans (by far)?  The answer is: “The Rolling Stones;”

7887.  I can say (that) I’ve seen “The Rolling Stones” live (again);

7888.  Warren Buffett has asserted that to a large extent gambling is a tax on ignorance.  You allow gambling and it ends up taxing many that are least able to pay while relieving taxes on those who don’t gamble;

7889.  (Warren) Buffett favors great businesses, which he defines as those having a high return on capital for a long period of time, where he thinks management will treat shareholders right;

7890.  Ideally, (Warren) Buffett buys businesses for $.40 on the dollar, but he’ll pay closer to a dollar for a really great business;

7891.  (Warren) Buffett claims that his best ideas haven’t done better than others’ best ideas, but he’s lost less on his worst ideas;

7892.  In modern portfolio theory, beta is a measure of volatility, which, in turn, is seen as a measure of risk.  The higher the beta, the higher the risk.  (Warren) Buffett begs to differ asserting volatility does not measure risk.  For example, a couple decades ago, farmland in Nebraska went from $2,000.00 to $600.00 per acre.  The theory would say the “beta” of farms went way up, so you would be taking far more risk buying it at $600.00 than at $2,000.00;

7893.  (Warren) Buffett believes that real risk comes from the nature of certain kinds of businesses by the simple economics of the business and from not knowing what you’re doing.  If you understand the economics and you know the people then you’re not taking much risk;

7894.  The “newspaper” standard: Behave as if your actions will be on the front page of the local newspaper;

7895.  Berkshire Hathaway has no budgets or earnings goals;

7896.  It takes about 2 seconds for a party popper to hit the ground when it’s (been) thrown from the 17^th floor (of a building);

7897.  Electric scooters can go pretty fast;

7898.  Truths about romantic relationships: 1.  Monogamy does not equal a healthy relationship; 2.  Another person cannot “complete” you; 3.  Romantic relationships are unconscious reenactments of what we witnessed in childhood; 4.  A healthy relationship can feel boring especially if you have a history of chaos and instability; 5.  People don’t change for other people; 6.  Love is rooted in accountability, honesty and vulnerability; 7.  Without doing re-parenting work, you’ll always have “communication problems;” and 8.  We pick partners with traits similar to a parent whose love we wanted the most and did not receive;

7899.  Refuse to allow yourself to have low expectations about what you’re capable of creating.  As Michelangelo suggested, the greater danger is not that your hopes are too high and you fail to reach them; it’s that they’re too low and you do;

7900.  A mind that’s open to everything means being peaceful, radiating love, practicing forgiveness, being generous, respecting all life and, most important, visualizing yourself as capable of doing anything that you can conceive of in your mind and heart;

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7801.  Buying experiences as gifts for others (i.e., tickets to a baseball game or spa day) versus material things also delivers more happiness for those receiving the gift which is something to consider when buying gifts for loved ones for birthdays and special occasions;

7802.  If somebody has told you they really want a new pair of shoes and you say, “No, I am going to buy you an experience.”  That’s probably a bad call because it turns out people really like getting the things they asked for.  If somebody has told you what they want X just get them that;

7803.  Almost everything about modern society pushes us to consume right away and (often) pay for it much later.  People are better off doing just the opposite.  You’re more likely to get happiness from your spending if you can pay upfront and actually delay consumption.  For example, if you’re planning a trip and you can either pay for it a month in advance or put it on your credit card and pay for it after the trip, by paying in advance, you get the pain of paying out of the way and you get to enjoy the pleasure of anticipation.  It is good to separate payment from the experience itself;

7804.  Having our favorite things a little less often can enhance our ability to enjoy them.  The more we have of something the more we tend to get used to it and lose the same sort of intense pleasure we got when we first experienced it;

7805.  Taking a break from the things you enjoy can renew your capacity for pleasure.  It can also save you some money;

7806.  When people spend money on others, they actually get more happiness than from spending it on themselves;

7807.  Donating to a charity can especially lead to happiness.  People who donate to charity are happier than those who don’t even after taking into account things like their level of wealth;

7808.  “Auto giving,” where you automatically contribute monthly or yearly to a charity, may not lead to increased happiness.  The “set-it-and-forget it” mentality means you are probably not getting much of a burst of happiness when that $100.00 disappears from your bank account every month;

7809.  Warren Buffett notes that book value is seldom meaningful in analyzing the value of a business.  Book value simply records what was put into the business.  The key to calculating value is determining what will come out of the business;

7810.  Warren Buffett believes that buying a business is much like buying a bond with no maturity and with a blank coupon.  You must write in the coupon and the accuracy of that coupon is the essence of intelligent investing.  If you cannot guess the coupon with any accuracy then do not invest in the business;

7811.  A corporation’s return on equity approximates its equity coupon;

7812.  In a 1977 Fortune article, Warren Buffett noted that the average return on equity was then 12%.  Charlie Munger started to chip away at that noting the following: 1.  Post-retirement medical benefits amount to a huge liability for corporate America that has been accruing for 20 years, but is only now beginning to be reported on balance sheet.  Deduct 1/4 to 3/8 of a point; 2.  Stock options and other executive compensation that goes unreported by GAAP accounting.  There is another 1/4 to 3/8; and 3.  Overfunded pensions that have led to faithfully recorded prepaid pension costs, which are not what they would call earnings;

7813.  Signs of emotional dysfunction in families: 1.  Emotions of one member changes the emotions of all members; 2.  Parent shares marital issues with children; 3.  Messages are passed through other family members (i.e., Can you ask mom why she’s made at me?); 4.  Repression of certain unaccepted emotions; 5.  A felt need to be secretive or to hide parts of oneself; 6.  A felt responsibility to change or care for the emotions of parents or siblings; 7.  Parent being “best friends” with the child; 8.  Parent deeply involved in the activities/relationships of the child; 9.  Feeling guilty when spending time outside of the home; and 10.  Afraid or feeling ashamed to say “no” to a request;

7814.  Signs of emotional dysfunction modeled in childhood: 1.  Inability to set boundaries: feelings of fear, shame or being “wrong” in setting them; 2.  The belief that they are responsible for the emotions of others; 3.  The belief that someone can (or should) change for them; 4.  A desire to control situations: a fear of unfamiliarity; 5.  Unhealthy marriages/relationships; and 6.  Viewing children as an extension of oneself;

7815.  Few people understand that they have a right to their own thoughts, feelings and a life that they choose;

7816.  I’ve been asked to be a sperm donor;

7817.  Warren Buffett believes the long-term government bond rate (plus a point or two if interest rates are low) is the appropriate discount rate for most assets;

7818.  True investing is really more like betting against a pari-mutuel system trying to find a 2-to-1 shot that pays 3-to-1.  Value investing is looking for a “mispriced gamble;”

7819.  The danger of relying on historical statistics or formulas (in investing) is that you end up betting on a 14 year-old horse with a great record, but is now ready for the glue factory;

7820.  When investing, to think about what will happen versus when is a far more efficient way to behave;

7821.  It is Wall Street nonsense to say that something that earns a lumpy 20% to 80% is “riskier” than something that earns a predictable 5% year after year;

7822.  Peach wine and hard cider are good substitutes for peach schnapps in white sangria;

7823.  Something with a lousy past record and a bright future should be an opportunity you’re going to miss;

7824.  Warren Buffett noted that you do not have to make money back the way you lost it;

7825.  A stock does not know you own it, the price you paid, who recommended it, the prices someone else paid, the stock does not give a damn;

7826.  Charlie Munger said the ideal business has a wide and long-lasting moat around a terrific castle with an honest lord.  The moat represents a barrier to competition and could be low production costs, a trademark or an advantage of scale or technology;

7827.  Warren Buffett noted it is important to differentiate between a business where you have to be smart once versus one where you have to stay smart;

7828.  Warren Buffett said when accounting appears confusing, avoid the company.  The confusion may well be intentional and reveal the character of the management;

7829.  Things to keep in mind when setting boundaries: 1.  An emotionally healthy person will always respect a boundary; 2.  You are not responsible for the emotional response of another person; 3.  We can’t stop others from crossing our boundaries, but we can choose our response; 4.  Silence sends a message; 5.  You have a right to say “no” or change your mind; 6.  A person’s reaction to a boundary has nothing to do with you and everything to do with their internal environment; and 7.  It’s unfair to expect someone who has no boundaries in their own life to understand yours;

7830.  Key business risks: 1.  Capital structure – A company with a ton of debt could be a candidate for foreclosure; 2.  Nature of the business and its capital requirements – For example, commercial airlines require tons of upfront capital and competition is intense; and 3.  Commodity businesses – Unless you’re the low-cost producer, these are poor businesses to own;

7831.  If the business is sound, there remains the risk of paying too much.  The risk is time versus loss of principal.  If you overpay, it will take time for the business value to catch up to the price paid;

7832.  Charlie Munger noted people underrate the importance of a few big ideas.  Filters simplify the decision-making process.  Filters work really well because they are so simple;

7833.  Filters: 1.  Opportunity cost – For any corporate stock, a bond is an alternative.  You must choose the best opportunity you can understand; 2.  Quality people – Warrant Buffett said he looks for a manager who bats .400 and loves it.  Charlie Munger noted there are many wonderful people and many awful people.  Avoid the awful people.  Stick to those who take their promises seriously; and 3.  Good businesses – Go with those that are understandable with a sustainable edge.  The pond you choose is far more important than how well you swim;

7834.  Executive stock options should reflect the business’ intrinsic value and not simply the market price;

7835.  It is essential to learn from both the mistakes of others as well as your own;

7836.  It’s an honor to die for your country.  Make sure the other guys get the honor;

7837.  Even if you’re living overseas, you still have to pay U.S. taxes;

7838.  Dorm(itory) room . . . check;

7839.  You are your greatest asset.  Put your time, effort and money into training, grooming and encouraging your greatest asset;

7840.  Just like attraction is not a choice; catching feelings for someone is also not a choice;

7841.  If you see a girl over a long time, one of 4 things will (eventually) happen: 1.  You both fall in love with each other; 2.  One person falls in love, but the other one doesn’t; 3.  She gets into a relationship with a different guy and you might remain friends with her; and 4.  You part ways for different reasons;

7842.  Apparently, I’m in the 45^th district for the (Virginia) House (of Delegates) and the 30^th (district) for the (Virginia State) Senate;

7843.  Apparently, I’m in the “(0)105: Lee Center” precinct;

7844.  If you’re abundant on the inside then you’re much more likely to experience abundance on the outside;

7845.  Cynics and fools are twins on opposite sides of reality and possibility.  A fool will believe any far-fetched scheme and a cynic will criticize anything outside his/her reality.  A cynic’s reality does not let anything new in and a fool’s reality does not have the ability to keep foolish ideas out.  If you want to be abundant and rich, you need to have an open mind, a flexible reality and the skills to turn new ideas into real and profitable ventures;

7846.  If you want a faster way to get rich, you need to have a mind open to new ideas and have the skills to take on possibilities greater than your current abilities.  You must have a reality that can change, expand and grow quickly.  To try to get rich with a poor person’s reality or a reality that comes from lack and limitation is impossible;

7847.  The hush puppies at Willie’s (WilliesSportsBarDC.com) in D.C. are tasty;

7848.  Investors need only to have a sensible way to keep wealth growing (especially if they are already rich).  If someone else is getting rich so what?  Someone else will always be doing better;

7849.  The notion that an investor or investment manager should be “required” to beat everyone else is nonsense.  The real key is to know what you really want to avoid and give those things a wide berth (such as a bad marriage, an early death and so on).  Do this and life will go much better;

7850.  Dating advice: If they like you, you’ll know it.  If they don’t, you’ll be confused;

What I've learned since moving to D.C. (some of which should be obvious): 0156

7751.  More people are afraid of things like public speaking, heights, spiders and the dentist than they are of death;

7752.  Humans are only born with two natural fears.  The rest, we’re all taught by our parents, our society and our upbringing;

7753.  Humans are naturally afraid of sudden loud noises and falling from great heights.  They keep us safe from what could be a predator or danger that would cause harm;

7754.  Lessons from vulnerability (i.e., the willingness to be seen): 1.  Your story has the power to heal; 2.  Criticism is part of being seen and cannot be avoided; 3.  Portraying any image other than who you are causes self-inflicted stress; 4.  Community heals; 5.  If you show up, so will other people; 6.  If you don’t show up, don’t expect to receive; 7.  The narratives in our mind are not reality, they are our past; and 8.  People triggered by your vulnerability have their own healing to do;

7755.  Vulnerability simply means showing up, being seen and being heard.  For most of us, this is terrifying because as children we internalized the fear of showing up from adults around us.  We were judged or criticized (even in a light hearted way) and our nervous system felt the hit.  It recorded the memory in the subconscious, which is why our minds race as any type of exposure is felt.  They say, “Don’t do that again.  That isn’t safe;”

7756.  Work on becoming valuable to valuable people;

7757.  Every other fear, from that common fear of public speaking to social judgment to small spaces or spiders or dogs, is programmed into us throughout our lives;

7758.  Whatever your fear is, there was an event in your lifetime that created that fear in your mind.  All those paralyzing fears are completely learned;

7759.  10 things to say to your inner child: 1.  You are enough; 2.  I see you; 3.  You are worthy and can create your life experience; 4.  I understand; 5.  You live in a new reality now; 6.  It wasn’t your fault; 7.  I forgive you; 8.  You are a resilient warrior; 9.  I am here to guide you; and 10.  The present moment is safe;

7760.  5-step method for peak productivity: 1.  At the end of each work day, write down the six most important things you’d like to accomplish tomorrow.  No more than six; 2.  Prioritize these in order of true importance; 3.  When you arrive tomorrow, focus on the first task.  Work on it until complete.  Then move to the second task; 4.  At the end of each day, move unfinished items to a new list of six items for the following day; and 5.  Rinse and repeat;

7761.  If being heard is one of the things we crave/want most as being human then it explains why being thoughtful can have a powerful impact/meaning to us;

7762.  There are several different strategies to taking a nap during the day and optimal times to employ each of them.  The ideal scenario is timing your nap based on when you started your day;

7763.  The goal is going to sleep at a time when your slow-wave sleep (SWS) will perfectly intersect with rapid-eye movement (REM) (i.e., the time when you’ll get the deepest, most relaxing round of rest).  Just as an example, if you woke up at 7:00 AM, your ideal nap time would be 2:00 PM;

7764.  The “power” nap: If you just need a quick refresh, sleep for somewhere between 10 and 20 minutes.  You won’t enter really deep sleep so it’s easy to wake back up and return to whatever task is at hand;

7765.  The “coffee” nap: It’s the same as the power nap only you drink some coffee first.  Scientists say this actually works better for two reasons.  Caffeine is a stimulant so you’ll automatically feel more alert as it kicks in which happens to be right around the time you’re waking up.  The caffeine also competes with adenosine for the receptors in your brain.  Since adenosine is a chemical that promotes sleep and makes you feel more tired, it doesn’t really take hold as much as it would if you hadn’t consumed the caffeine before nodding off.  The end result is you may get a double benefit from pre-gaming with the coffee;

7766.  Research suggests 200 mg of caffeine is a good amount for a “coffee” nap although that’s a full two cups worth;

7767.  You should (probably) avoid taking a “coffee” nap too close to your regular bedtime.  You may run the risk of disturbing your regular sleep;

7768.  Most experts recommend stopping caffeine consumption a full six hours before bedtime;

7769.  The “almost there” nap: A one-hour nap is pretty good overall.  You’ll get the deepest type of sleep (slow-wave) but it might take you a little while to come around;

7770.  The “ideal full-sleep-cycle” nap: It takes about 90 minutes to run through all the different phases of sleep (light, dreaming, etc.) so sleep for an hour and a half is just about perfect.  You should wake up feeling really good and since you’ve completed the full cycle it should also be relatively easy to get up;

7771.  The “worst type” of nap: Sleep experts say a 30-minute nap will give you almost no benefit because you’ll wake up just as your deeper phases of sleep are getting underway;

7772.  Basically, consider a quick “power” nap with or without coffee or commit to a longer nap somewhere between 60 and 90 minutes;

7773.  There’s an interplanetary internet.  Currently, there’s a network between NASA and the International Space Station and, in the future, the moon and Mars;

7774.  I was supposed to be a father/dad on May 24^th, 2019;

7775.  Addiction is repeating a cycle of unprocessed emotions;

7776.  A lot of people believe that addiction is about the drug of choice.  It's not.  It's about escape and controlled suffering not just using it, but the entire process.  It includes the high of wanting the drug, the rush of going to find it, the hiding, the danger and the deep shame that comes afterwards.  They're addicted to the entire emotional process.  The process keeps them distracted from the present moment, but in a cycle of pain they don't know how to exist without.  The same pain that was familiar in childhood;

7777.  Addiction is a learned coping mechanism for self-hatred.  Self-hatred that has become identity;

7778.  How do we heal addiction?  1.  Heal the inner child; 2.  Process and release past trauma; 3.  Teach safety in the body; 4.  Allow emotional regulation; 5.  Rewire the pathways of the mind by using the present moment; 6.  Heal the gut; and 7.  Nurture the soul;

7779.  It is far better to buy a wonderful company at a fair price than a fair company at a wonderful price;

7780.  George Michaelis explains that there have been two basic themes in value investing: 1.  Buy assets; and 2.  Buy earnings power;

7781.  Buying assets focuses on buying a company well below its liquidating value;

7782.  As George Michaelis sees it, the problem with buying assets cheap is that the only way to increase the value is through some sort of event;

7783.  George Michaelis prefers the earnings power approach to value investing.  If a company earns very high returns year after year then, ultimately, those will be the shareholders' returns as well;

7784.  Three characteristics for "permanent" holdings: 1.  Good economic characteristics; 2.  Able and trustworthy management; and 3.  We like what the company does;

7785.  Warren Buffett has noted that many investors illogically become euphoric when stock prices rise and are downcast when they fall.  This makes no more sense than if you bought some hamburger one day, returned the next day to buy more, but at a higher price and then felt euphoric because you had bought some cheaper the day before.  If you are going to be a lifelong buyer of food, you welcome falling prices and deplore price increases.  So should it be with investments;

7786.  Warren Buffett believes financial disasters come about because stupid decisions in financial companies are not accompanied by immediate pain.  Instead, people give more money.  Seeing this, competitors indulge in mindless imitation.  Thus, when failure comes, it is huge;

7787.  The Chart House (Chart-House.com) has $.99 glasses of champagne or mimosas during Sunday brunch;

7788.  The artichoke (hearts) salad at the Chart House salad bar is (pretty) tasty . . . and so is the chicken salad. . . . I think there might be five spice (powder) in the chicken salad;

7789.  I am not judged by the number of times I fail, but by the number of times I succeed; and the number of times I succeed is in direct proportion to the number of times I can fail and keep on trying;

7790.  Most people think that because they have money problems that more money will solve their problems.  This is a myth.  The truth is that you solve your money problems by learning how to solve your money problems;

7791.  When people lie to us we personalize it.  We take the lying to mean something about how they feel about us.  We’ve been conditioned to believe this since childhood (i.e., behavior = how a person feels about us);

7792.  Behavior is how a person feels about himself/herself;

7793.  Lying is particularly painful because we feel violated.  We’re invested.  From our view, lying is a violation of trust.  We can’t see that lying comes from fear;

7794.  Children don’t come to lying naturally.  They learn it.  Children lie for one reason: to avoid perceived loss of love.  We carry this pattern to adulthood;

7795.  The statement, “You believe your own lies,” is accurate.  Our ego does this to protect us.  People who go through extreme measures to protect their lies have extreme levels of fear; fear of exposure;

7796.  How do you get past the fear of failure?  It’s simple, you embrace the suck.  You have to embrace being bad at something and get ready to learn.  When you can lean into that discomfort and allow yourself to start from scratch that’s when real growth occurs and real life begins;

7797.  What matters for your wellbeing is what you’re doing with the minutes and days of your life.  If you have a lot of money and a lot of nice stuff, but you’re spending your time doing things you dislike then your minute-to-minute happiness and overall happiness is likely to be pretty low;

7798.  People report feeling happier when they used their money for time-saving services than on material things;

7799.  Buying time is not only for rich people.  The average amount of money people spent on time-saving costs was between $80.00 to $100.00 a month and even the $40.00 created a notable difference in their happiness;

7800.  People actually get more happiness from buying experiences like trips and special meals than they do from buying material things like gadgets, clothes or shoes;

What I've learned since moving to D.C. (some of which should be obvious): 0155

7701.  The Pony Express used orphaned teenagers as riders;

7702.  The (United States Postal Service’s) dead letter office is the only government entity that can read your mail without a warrant;

7703.  Warren Buffet is a Cornhusker.  He graduated from the University of Nebraska (in Lincoln);

7704.  To make consistent money in options, if you think something is going to go higher, sell a put credit spread and, if you think something is going to go lower, sell a call credit spread;

7705.  The maple (icing) with (chopped) bacon (doughnut) at Duck Donuts (DuckDonuts.com) is pretty tasty . . . and so is strawberry (icing) with graham cracker and salted caramel;

7706.  The average human life is relatively short;

7707.  You will only ever live the life you create for yourself;

7708.  Being busy does not mean being productive;

7709.  Some kind of failure always occurs before success;

7710.  Thinking and doing are two very different things;

7711.  You don’t have to wait for an apology to forgive;

7712.  Some people are simply the wrong match for you;

7713.  It’s not other people’s job to love you; it’s yours;

7714.  What you own is not who you are;

7715.  Everything changes every second;

7716.  “Big Jim’s Bar-B-Que” in Charlottesville is back as “Red Hub Food Co.” (RedHubFoodCo.com);

7717.  Apparently, the key to removing mildew from siding is to use Clorox (Concentrated Pro Results) Outdoor Bleach (in your pressure washer);

7718.  The lemon mousse with raspberries (i.e., three layers of moist genoise sponge with a filling made from fresh lemon juice, whipped cream, eggs whites & fresh raspberries, ringed with a frazipan & raspberry jam & decorated with a passion fruit mirror & fresh berries) at the Alexandria Pastry Shop (AlexandraPastry.com) is tasty;

7719.  Apparently, the key to scraping paint from a window is to use a lot of glass cleaner (as a lubricant);

7720.  The way to scrape silicone (sealant) and paint from a window is to score the silicone at the edge panes with a utility knife and then scrape;

7721.  Adele’s birthday is on Cinco de Mayo;

7722.  When sanding joint compound, (using) a hand sander is (way) faster than (using) a sanding sponge;

7723.  Hot tub . . . check . . . back deck . . . (double) check;

7724.  5 steps for manifesting: 1.  Focus – Decide what it is that you want in your life and focus on it.  Whatever you focus on expands good and bad.  Be as specific as possible.  Focus on 1 goal at a time.  Creative visualization every day; 2.  Boost – Generate strong positive emotions of dopamine and serotonin.  Relive positive past experiences; 3.  Release attachment – Release everything/blocks preventing you from having it.  Stop “I don't have . . . .”  Stop limiting beliefs; 4.  Feel gratitude – Learn to have appreciation for all you have now, the people you know, what you’ve accomplished and how far you’ve come.  Gratitude journal – what you’re grateful for and why; and 5.  Go and take inspired action – The path to success meanders.  Perfection is not required.  Trust your intuition.  Do one action/little thing every day;

7725.  According to a Bowling Green State University study, the rate of divorce for couples over the age of 50 jumped from one in ten couples in 1990 to over one-quarter of them just 20 years later;

7726.  When you invest for cash flow, you’re investing in a money-back guarantee.  If you invest for capital gains, you invest in hope.  The biggest thief of all is hope;

7727.  Without the stress and layers of being busy, you have to pay attention to things you might not like paying attention to.  You might have to focus on things you don’t like about yourself or your life and that can create psychological pain;

7728.  A pleasant encounter with someone we don’t know, even a nonverbal one, can soothe us when no one else is around.  It may get us out of our own head, a proven mood booster, and help broaden our perspective;

7729.  “People feel more connected when they talk to strangers like they are part of something bigger,” says Gillian Sandstrom, a psychologist and senior lecturer in the Department of Psychology at the University of Essex, in Colchester, England, who studies interactions between strangers;

7730.  People are happier on days when they have more interactions with acquaintances they don’t know well and students enjoy class more when they interact with their classmates;

7731.  Dr. Sandstrom’s research shows people underestimate how much another person will like them when they talk for the first time;

7732.  In a study in which Dr. Sandstrom asked participants to talk to at least one stranger a day for five days, 99% said they found at least one of the conversations pleasantly surprising, 82% said they learned something from one of the strangers, 43% exchanged contact information and 40% had communicated with one of the strangers again, an indication they might be making friends;

7733.  Scientists believe there may be an ancient reason why humans enjoy interacting with strangers.  To survive as a species, we need to mate outside our own gene pool, so we may have evolved to have both the social skills and the motivation to interact with people who are not in our tribe;

7734.  Multiple studies show that people who interact regularly with passing acquaintances or who engage with others through community groups, religious gatherings or volunteer opportunities have better emotional and physical health and live longer than people who do not;

7735.  Researchers believe that engaging with someone we don’t know well is more cognitively challenging than interacting with loved ones.  Rather than use the verbal shorthand that develops in close relationships, we have to speak in full sentences, engaging more of our brains;

7736.  Why do we enjoy talking to people we don’t know?  An encounter with a stranger, when pleasant, fulfills four basic human needs, according to Rachel Kazez, a licensed clinical social worker in Chicago, who advises her patients to talk to strangers when they are feeling low.  It gives us a sense of control because we can choose whether to talk or not and how much information we disclose.  We feel connected; it can sometimes be easier to open up and have an intimate conversation with a stranger because we know we won’t see that person again.  We get to feel capable because they don’t know our insecurities or setbacks.  And the encounter may give us a sense of meaning or purpose especially because a stranger doesn’t have to be nice to us;

7737.  If you are feeling lonely and have a nice interaction with a stranger on a bus, you can suddenly feel like: “Oh, I fit in.  I’m part of this city;”

7738.  Ten ways to connect with strangers: 1.  Be brave.  Research shows that we underestimate how much people like us when we talk to them the first time.  We’re not as boring as we think; 2.  Chat up someone you see regularly, perhaps at the coffee shop, gym or elevator at work.  Research shows that people are happier on days when they interact more with acquaintances.  “They make you feel that your day is familiar and that you are recognized,” says Karen Fingerman, a professor of human development & family sciences at the University of Texas at Austin and co-author of “Consequential Strangers: Turning Everyday Encounters Into Life Changing Moments;” 3.  Ask about the other person.  Everyone loves to talk about themselves; 4.  Bond during a challenging experience such as when you’re stuck in a long line or on a bad flight.  Making a connection can make the experience feel shorter and more positive, says Jacqueline Sperling, a psychologist and director of training and research at McLean Anxiety Mastery Program at McLean Hospital in Cambridge, Massachusetts; 5.  Ask for help.  This will make you feel less alone.  And the other person will get a mood boost that comes from doing a good deed; 6.  Focus on what you have in common.  (There’s always the weather.)  Then take baby steps to move away from small talk, which is not conducive to a real connection, says Gillian Sandstrom, a psychologist and senior lecturer in the Department of Psychology at the University of Essex, in Colchester, England; 7.  Mutual disclosure helps.  But be careful not to overshare; 8.  Use humor.  Everyone can use a smile; 9.  Make sure the interaction is equal.  Is the other person enjoying it?  Or would s/he prefer to be left alone?; and 10.  Do it again.  Just like everything else, talking to strangers is easier if you practice.  And don’t worry if every encounter isn’t positive.  “You don’t expect every book you read to be great,” says Dr. Sandstrom.  “Conversations are the same way;”

7739.  To determine the intrinsic business value of an asset, simply take the present value of the net cash flows from here to eternity based on current bond rates.  The hard part is predicting the future cash flows;

7740.  Warren Buffet noted that if he and Charlie Munger can get an intrinsic business value of X to 3X for an asset then they attempt to buy it at ½X;

7741.  When I’m walking down the street or browsing the aisles of a store, it seems that most people are (just) unaware of the people around them;

7742.  Investing in income producing real estate: 1.  The property has to cash flow; 2.  The purchase price of the property has to be below the replacement value for the new construction; 3.  The monthly rents have to be at least 1% of the fair market value of the property; and 4.  There has to be a short term plan for the return of your investment (i.e., a horizon of 0 months to 3 years to have the down payment come back);

7743.  Caroline Jones (the country music singer) is the daughter of Paul Tudor Jones (the investor);

7744.  Cheated on . . . check;

7745.  Apparently, if you work at Google (and you’re a woman), they’ll freeze your eggs;

7746.  The fact that millions of people share the same vices does not make these vices virtues, the fact that they share so many errors does not make the errors to be truths and the fact that millions of people share the same mental pathology does not make these people sane;

7747.  For one human being to love another: that is perhaps the most difficult of all our tasks, the ultimate, the last test and proof, the work for which all other work is but preparation;

7748.  Love anything and your heart will be wrung and possibly broken.  If you want to make sure of keeping it intact you must give it to no one not even an animal.  Wrap it carefully round with hobbies and little luxuries; avoid all entanglements.  Lock it up safe in the casket or coffin of your selfishness.  But in that casket, safe, dark, motionless, airless, it will change.  It will not be broken; it will become unbreakable, impenetrable, (and) irredeemable.  To love is to be vulnerable;

7749.  Apparently, your metabolism is at about 25% (of normal) when you have a hangover;

7750.  The number one fear of American adults isn’t death.  Death is actually number five on the list or lower depending on which study you read;