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MilitaryToFinance

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MilitaryToFinance last won the day on November 10 2015

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About MilitaryToFinance

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  1. VA Loans

    Thanks guys. Is it just the more stringent inspection that worries sellers or they aren't familiar with VA loans and people don't like what they aren't familiar with? I'll be taking out a jumbo loan so even though it's VA I'll be putting down at least 10%. I'm not sure why the seller would care how much the buyer is putting down but that's the only other big difference I can think of.
  2. VA Loans

    Has anybody had problems with the seller of a house using a VA loan? I've been warned by multiple people that sellers don't really like VA loans and if there is more than one offer you will lose out to the conventional loan. I'm especially curious because I live in an area where very few people would have experience with VA loans but the rates I'm being quoted are 50-75bps better for the VA loan than conventional. I have a disability rating so the funding fee is waived for me as well so I would like to use the VA loan if possible but the stories have me worried.
  3. I'll chime in with my thoughts although I think my specific experience is probably less relevant. I'm happy to give details on my career and path here but I can count on both hands the number of veterans I know in my entire industry so it might not be that helpful. That said I have some general thoughts on civilian life. First, I think it's worth saying that when it comes to the trade off between pay and work/life balance the airlines are really hard to beat. That doesn't make it the right answer but it is worth keeping in mind. All of my peers who make decent six figure paychecks work 10-12 hours a day and many either travel a lot or work weekends. If a company offers free breakfast and dinner as a perk it isn't because they are nice, it's because they expect you to be at the office before breakfast and still working after dinner. I chose money over balance but it was an explicut choice that I knew I was making up front. If you are getting out after your commitment, not retiring at 20, both consulting and investment banking love military vets. They tend to hire young so I'm not sure they are viable options after a full career. Investment banking is a brutal grind but if you don't mind the hours it is pretty much a guarantee you'll make $300-$500k mid-career with the possibility of much more if you make Managing Director. The hiring cycle is fairly standardized and there are a number of groups/programs targeting vets. Vets on Wall Street is a good one, I also second whoever recommended ACP. I didn't get my job through them but they paired me with a great mentor who introduced me to lots of his contracts. Goldman Sachs has a veterans internship program each year and if you aren't a screwup you will get an offer for a fulltime job. Consulting is good because it opens up options if you don't really know what you want to do. Most people who start at the big firms, McKinsey/Bain/BCG are the favorites, only stay for 3 or 4 years. After that you will have worked on 5 or 6 projects with different companies in different industries and you'll have a good idea what's out there. If the consulting lifestyle isn't for you it's very easy to transition to a management role at one of the companies you consulted with. If you have a family this is a tough path because consultants are the people keeping the airlines in business. Normal month will have you on the road Mon-Thur 3 weeks a month.
  4. Stocks for Dummies (Aviators)

    What about it made you laugh? The fiscal situation in Puerto Rico is similar with billions of muni debt which is currently impossible to pay. We've spent a couple hundred hours researching Puerto Rico and the various issuers, legal claims and priorities so i have a much better understanding of that than I do of the Illinois debt.
  5. Stocks for Dummies (Aviators)

    I would wait on this. When Illinois gets downgraded to junk because they can't pass a budget you will see forced selling by large institutions who's investment mandates won't let them own junk debt. Even after that this is going to take years to sort out in court so there's no rush to get involved. I know the Puerto Rico situation a lot better than IL so I'm not sure exactly what kinds of debt has been issued there but if you can find bonds with any sort of special revenue pledge those will have a better legal claim. Look for bonds backed by sales tax or infrastructure. They already sold the toll road but one of the airports might have bonds paid by airport fees and taxes. Your biggest problem is the massive sucking black hole of completely unfunded pension liabilities in a state where the court has already ruled pension claims are non-negotiable. Remember the government and unions negotiated and agreed to change the pension a few years back and some retiree sued and the court agreed that even the union couldn't negotiate a decrease in their own benefits. Sent from my SAMSUNG-SM-G925A using Baseops Network Forums mobile app
  6. Stocks for Dummies (Aviators)

    Merger-arb has been a very dangerous strategy in the last 18 months. If the stock is trading over 130% wide a week before the deal is closing you have to think there is a reason for that. I hope you weren't holding out for the $7. Sent from my SAMSUNG-SM-G925A using Baseops Network Forums mobile app
  7. Stocks for Dummies (Aviators)

    Andrew Left is known as a self-promoting douchenozzle but he's not always wrong. It's very hard to see a scenario where NVDA justifies its valuation but there is a lot of blind credulity and enthusiasm for any tech company with a growth story these days. Makes shorting brutal.
  8. Latest Movies

    You can still see a movie for $7? My theater is $19.95/ticket + $1.50 service charge and that's before they bend you over buying popcorn.
  9. Stocks for Dummies (Aviators)

    I definitely agree with you there. If you're getting a "hot tip" you're the sucker at the table. However I do believe if you are willing to put in the effort to research individual names and situations you can do better than the market over time. It requires a significant amount of effort to do so and is something you really need to have a personal interest in to commit the amount of time necessary to be successful. My suggestion is for people to start with areas they have some level of expertise already because you aren't going to compete with the professionals in the amount of time you can dedicate to research. So know your strengths and play to them. If you're a pilot with a Poly Sci degree maybe don't try and outsmart the PhD's by investing in small cap biotech stocks.
  10. NFL Ratings are Way Down

    Figures... http://www.nydailynews.com/sports/football/colin-kaepernick-hypocrite-ends-protest-job-article-1.2986931 Sent from my SAMSUNG-SM-G925A using Baseops Network Forums mobile app
  11. Stocks for Dummies (Aviators)

    If you believe in Random Walk then you believe in efficient markets which by definition is the opposite of a rigged game. It means that no matter what you buy the price of all information is already in the stock so in aggregate you won't beat the market. In order to rig the market somebody would need to have information you don't and be taking advantage of you. The book is an interest read but you have to remember the reason we have economists is to make weathermen look accurate. Efficient Markets Hypothesis makes for building great theoretical models and having fun with math but has been widely refuted by real world market dynamics.
  12. Gun Talk

    http://www.ca4.uscourts.gov/opinions/published/141945a.p.pdf?utm_content=buffer37be3&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer Bad news from 4th Circuit. Maryland scary gun ban and magazine ban both ruled constitutional. Main precedent DC v Heller doesn't apply to weapons of war and AR/AK variants are considered weapons of war by the court.
  13. Stocks for Dummies (Aviators)

    It certainly looks cheap, especially on an ex-cash basis. If they really cut the repatriation tax as much as planned that will be huge for Apple. My concern has always been the dependence on the iPhone and how long that can last. At some point they need a new product to carry the flag and it's hard to see what that will be. It says something when the Apple Watch was considered a flop after selling "only" $6B in the first year. Lots of companies would kill for a $6B revenue product but for Apple it didn't move the needle at all. It will take something massive to replace the profits from the iPhone and I have no idea what that will be.
  14. Stocks for Dummies (Aviators)

    A few words of caution. First, never believe the buy/hold/sell ratings from banks, they don't actually mean buy or hold or sell. I suggest reading this for a quick explanation of how sell-side equity research works: https://www.bloomberg.com/view/articles/2017-01-20/wall-street-analysts-give-investors-what-they-want Second a stock split cannot change the value of a company. If you think AMZN is a good value after the stock splits it is an equally good value today. 477M shares at $845 gives a market cap of $403B, if they split 2-for-1 you have 954M shares at $422.50 which is still a $403B market cap. On a stock specific note I disagree with your assessment of Amazon. The retail business has negative working capital so when it was growing rapidly they could reinvest that float into other business areas. As that growth slows they lose that excess cash for investment. With the exception of cloud services they continue to invest in low margin or no margin businesses that don't earn an ROIC above their cost of capital. Growth without profitability is value destructive. Groceries are a terrible business, the music and video offerings have escalating costs and Amazon has no competitive advantage in either of them. Nobody is making money in the restaurant take-out business. At 172x P/E (think of a bond with a 0.58% interest rate and no guaranteed payout), 3x Sales and 34x EV/EBITDA you are betting everything on profitability 10+ years in the future. Maybe you'll be right but there are many other, lower-risk options out there in my opinion.
  15. Gun Talk

    Ammo question for the group. How do you pick your ammo loads? All of my shooting has been punching holes in paper so I've never cared that much about what I'm shooting. But for CCW or hunting where it matters more how did you settle on what you're using? How much is it really worth it to pay up for some of the specialty ammo? Sent from my SAMSUNG-SM-G925A using Baseops Network Forums mobile app
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