Under the Yoke

Where are you and where are you going?
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fiby41
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Re: Under the Yoke

Post by fiby41 »

Bankai wrote:
Sat Jul 27, 2019 6:21 am
Why would you work until 60?
That assumption is an accounting hack of sorts.
The pension scheme kicks in for me in 2057. It is quite a hassle to calculate what the fixed monthly payout will actually be worth then. I don't actually have to work as long as I can create passive source of income or live off dividends or sell equity. Or other ways to cover for during age 41 (fi year hence the name fiby41) to 60. So I'm assuming those expenses will be covered out of salary outright.

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fiby41
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Tick tock, tick tock... That is the sound of my life running out

Post by fiby41 »

Mutual funds 266k @ -6.78%(-18.06k)= 248k
Long-term savings deposit series-2 50k @ 10.5%
Long-term savings deposit series-4 50k @ 8.25%
Public provident fund 85.401k @7.9%
Cryptocurrency 25k @ -32%
Saving accounts 3258+80393.88+1500= 85,151.88 @4.5%
Atal pension yojana 228×23=5288 @ -4%(inflation)

Total accumulated: 540,840.88
Static reserve index: 4 years 6 months 2 days 12 hours 32 minutes and 36 seconds

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fiby41
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Lose some, gain some, check sum

Post by fiby41 »

Two birds living together, each the friend of the other, perch upon the same tree. Of these two, one eats the sweet fruit of the tree, but the other simply looks on without eating.

MANTRA NO. 1 of the Mundaka Upanishad^

The two birds are the Jiva [system 1 thinking] and Isvara [system 2], both existing in an individual compared to a tree. They exist together as the reflection and the original. They both manifest themselves in different ways in every individual. From the characteristics of the Jiva it is possible to infer the nature of Isvara, and from the nature of Isvara it is possible to determine the potentialities of the Jiva. Both the Jiva and Isvara have a common substratum which is Brahman and which is the reality of both. The body is compared to a tree because it can be cut down like a tree. This tree is also called the Kshetra or the field of manifestation and action of the Kshetrajna or the knower of the field. The body is the field of action and experience and it is the fruit of actions done already.

30 Sep 2019

Account value
2,43,307.25
Holdings
5,751.25
Mutual funds
2,37,508.46

Qty. 25
LTP 222.65
JSWSTEEL NSE
₹350.92
-36.55% -3,206.75
8,773.00
Total investment
5,566.25
Current value
-3,206.75 (-36.55%)
P&L


Equity
25.26k
Margin Available
Margins used 0
Opening Balance 25.26k


Actual Bank Balance
3,659.88 CR
Withdrawable Balance
3,659.88 CR

Balance
50,000.00
Rate of Interest
10.50 %
Maturity Amount
86,750.00
Maturity Date
19/12/2020
Lien Amount
0.00


Balance
50,000.00
Rate of Interest
8.25 %
Maturity Amount
78,875.00
Maturity Date
06/03/2024
Lien Amount
0.00

1,85,000 @7.9 %
Maxed out maximum permissible 1,50,000 deposit for this financial year. Can deposit more but it will be locked away until 2031 and earn no interest.

Uninstalled the mutual funds app as I won't be needing to make another transaction until 31.03.2020. Been reading the Thinking Fast and Slow book. It's true that negative movements illicit an emotional response much more than upward swings. I thought not reacting to it and making decisions under their influence was building my character strength. But it is no longer worth it. I could just enjoy life instead of worrying about a surprise test where the character strength I build up watching months worth of savings wax and wane in a coupla days will be used.

Static reserve index: Four years and seven months.

^The Upanishad's are the footnotes to the Vedas.

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How narrow our souls become when absorbed in any present good or I'll. It's only the thought of the future that makes th

Post by fiby41 »

Cash@hand: 9.8INR . Rest of the money is working for me generating P&L.
I get 1 month of expenses in interest for for maxing out the PPF limit for a year. If I max out the PPF limit for 12 years in a row from now, I will be effectively FI at the start of the twelfth year.

PPF starts with an initial block of 15 years and then can be extended in blocks of 5 years. I started mine within a month of me turning eighteen. 3 years have come to pass since I started my PPF. The timelines align with paragraph 1 above for fiby33 (2031).

I did not aggressively max out the PPF in the previous years because I did not have the money and markets were giving me around 11% 2-3 times a year as compared to 7.5%-7.9% of PPF. Well I still don't have the money but I like the abundance mindset caused by knowing it may not be fastFI but it is sureFI even if it takes longer. Knowing I've done what I could for the year gives me peace of mind and sleep at night.

If I earn/save more than PPF max limit, I will do laddering/grandfathering FDs. In such a way than FDs upto 1.5lac PPF limit mature around the time the next financial year starts. Then for the second, third ,... financial year and so on and forth. Until the time horizon becomes so large that banks don't offer FDs (gretear than 7 years.)

I will be overly invested in PPF and reliant on its interest rate for FI. After saving for the seventh year, I'll look into the Permanent portfolio, stock market, bonds, precious metals. Let's hope I'll be more knowledgeable then and stably secure so than one sector tanking won't sabotage FI. These will be the savings for the n plus seventh year anyway and this will give be the date for how long term , how many years I am investing for. This goal based investing will help me get through the crests and troughs. At the start on the (n+7)th years , I'll sell and transfer the funds to PPF.

Once I cover for another 5 years of expenses in the second savings phase after the first seven years of expenses in the form of grandfathered/laddered FDs, I will be effectively FI. Living on interest ad infinitum indefinitely.

Currently I have money enough to fund next two years of PPF deposits. I've already maxed out for this year. This leaves me with 9 years of expenses to find money for and save to FI. I have to find a job that affords FI in the next two years or I am going to Russia again where I will live on my parent's dime. If I get a job there well and good, otherwise atleast my personal out of pocket expenses will be zero. I'll need a job after that which will make up for failing to max out the PPF deposits for the 2 to 3 year duration I'll spend there. If nothing works out, bye bye FI.

Money servers two functions: store of value and for score keeping. There is always going to be someone earning more than you, saving more than you, spending more than you, getting better returns than you, investing more than you, needing it more than you, deserving it more than you, having more than they know what to do with it than you,... Score keeping in a receipe for dissatisfaction.

As fish put it famously I consider money to be a solved problem. May not be today, may not be in 2031, may not be fiby41, may not be around the conventional retirement age, may not be when I am my grandfather's age,... Whenever it may be, I know that when I die, it won't be due to starvation or because I spent all my money on a Lamborghini. I have the long the provisioning capacity and the capability to generate options.

It is the product of abundance mindset. That there is enough for me to live for today comfortably and there is a little extra left so I stash it away for a rainy day... Until I one day have enough left at the end of that day that I could weather rainy days until the day that I die. Scarcity mentality is setting arbitrary goals in the sky and trying to hit them and getting upset when you don't hit the mark. There is enough for me to go around for half a decade.

Reproduction is a problem to solve. This can bring the solution to the money problem undone. I know I don't have to sort this out as I can just solely focus on generating higher value and arranged marriage will take care of the rest. The downsides to a arranged marriage is unless I have a job however minial and boring, I won't get married. The second downside is unless the spouse has a job I'll have to foot the bill for child-rearing.

Candidate 1:
My childhood sweetheart became my neighbour 3 years ago. There are a lot of red flags-
- raised by single mom, dad died so no positive male role models in life
- "been with" atleast 5 dudes (if you include me) since school, that i know of
- Jobless lawyer who is older than me (deadly combination if things dont workout)
-cannot cook, cannot clean
Only reason I even consider her is because she has genuine interest in me and has the means to provide for herself and family (ancestral real estate).
I was her plan B option: 'Let's be friends while I have fun with all these older, hotter, taller guys over here and if I am still single when I become 30 we will marry' type.
By not letting her walk all over my life and not giving her more than one day a week, I've been able to maintain her interest in me at high.

I have a two bullet point check list when looking for someone to be romantically interested in: attractive, available. Attention, commitment and affection is what I have to offer. I dont care who else she hangs out with as long as I am getting my time. I withdraw the attention I give her if she engages in undesireable behaviour such as flaking, to the point where I'll just ignore her when she can see me entering the building from the balcony and 'accidentially' runs into me. I dont have to explain myself. Her rationalisation engine does that for me: I was busy, in a hurry...

She is gaining weight fast as after post graduation she under goes little to no physical activity. Her mom is grossly obese and she is all set to follow suit. I'm sure she won't get married even if she could until I return from Russia. But the downside is that she'll be 29 then and fertility rate drops 70% after 30.

Other option is marry her and then go to Russia. The downside to this is I will be stuck with her for the rest of my life, especially during the phase of my life where I will be in my SMV peak and have maximum possibility of generating options. Upside is I'll have two kids instead of one.

Candidate 2: flaked on first date.

These were the low hanging fruit. The rosy dream remains getting to know a 15-17 year old Russian who grew up on a farm, marrying her when she turns 18 and having a child when the previous one starts going to kindergarten. Spaced out across 4 years it means 4 children total. In the age of social media finding someone with out an overinflated ego is highly improbable.

Quote in the title by Richter:
How narrow our souls become when absorbed in any present good or I'll. It's only the thought of the future that makes them great.

Jason

Re: How narrow our souls become when absorbed in any present good or I'll. It's only the thought of the future that make

Post by Jason »

fiby41 wrote:
Sun Oct 06, 2019 11:27 am
Other option is marry her and then go to Russia. The downside to this is I will be stuck with her for the rest of my life,
As they say, "fools Russian where angels fear to tread."

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Re: Under the Yoke

Post by fiby41 »

wolf wrote:
Mon Oct 14, 2019 10:35 am
Congrats fiby41 to your improvement. It was a worthy 1000th post of yours!
Thank you wolf! It it weren't for the forumites like you nudging me along I'd have been walking in the dark.

Replying here because
jacob wrote:
Fri Jul 27, 2012 12:51 am
keep it on-topic. No celebrations. IF you want to discuss, please start another thread.

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The harvest is plentiful but the workers are few.

Post by fiby41 »

Imagine two mental accounts.
One is ₹709300 in the hole and the other ₹256200.
One cost engineering and the other Russian.

The payoff of first is a regular job. Placements were 30% when I started engineering and 15% last year. The exact salary doesn't matter, but the salary range is such that it takes three years to recoup the cost.

The payoff of second is seasonal employment. Going rate of interpreters is ₹8500 a day. Connections are required. 1.5 days of work a month is all it takes to max out PPF for the month.

Hybrid option is to work a day job and take leaves when seasonal employment makes itself available. Presently I have neither.

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Re: Under the Yoke

Post by George the original one »

The fat will never stop because she's too strong to reverse her direction via your influence.

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I'd count my blessings but I don't want to do the math

Post by fiby41 »

MRP: ERYTHING that is packaged to be sold comes with a maximum retail price printed on the cover here which has to be same across the country. Exceptions are milk and bread which had two prices printed, in city and if sold out of city. So I was surprised when same products has different pricing in stores across the streets in Moscow.

100% scholarship:
I'll do masters if I get a full scholarship. Putin recently waved 30B in loans owed by African countries so it is true they are trying to improve relations with them. This includes giving students from African countries more scholarships, so scholarships for Indian students is down to 100 /year.

Reminds me of the line 'in 5 years the Corleone family will be completely legitimate' from the Godfather. fiby41 will be completely outside the financial market in 2 years if I don't get a job.

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Re: Interesting

Post by fiby41 »

There are so many ways to calculate returns, absolute, XIRR, APY, adjusting for risk. I like to think of it this way:
In three ways of thinking about interest:

If I had all my money in this instrument, how many years of expenses will I require to be fire? Then I like to go through why I do not have all my money in that instrument: tax (on interest income or capital gains), maximum limits, risks*

Dividing the maturity amount by monthly expenses and adding those months to the maturity date. So you got expenses covered for that period of time in the future, now you need to cover for time leading up to that period and for time from the end of that period to the die date.

Taking inverse of interest and multiplying by 100 to get the number of years of annual expenses to save.

*deposits upto 1lac including principal and interest accross branches per bank per account holder insured by the Deposits Insurance and Credit Guarantee Corporation which comes under the Reserve Bank
or
sovereign guarantee given to the provident fund of the National Savings Institute of the Ministry of Finance by the Government of India

I've 7k over the 1lac in a bank which are not insured for in case of that bank failing.

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2:4 D2AC

Post by fiby41 »

Imagine a binary digital to analog converter. Input 00 to 11 selects lines 0 to 3 with 1X indicating I get a job and X1 indicating I get admission in Russia.

00 I'm jobless in India. 5 years of annual expenses saved
01 I'm studying in Russia with 5x annual expenses saved
10 I'm working in India with ... saved
11 I'm working in Russia w...d.

I've seen some Indian students in Russia take line 11. Betting on cricket matches are illegal in India. These calls are routed to Russia where Hindi speakers take the bets. They work five day and night shifts a week bunking classes sometimes. They have to schedule and do a minimum number of shifts for which the pay is 35k monthly.

Objections and considerations:
Am I going there to study or work?
If I wanted to/am going to work in a call center anyway why study engineering?
If the pay is good and it's not even a full time job then why not?

The Masters is two years and available in English and Russian medium. But there's an option to opt for a year of preparatory courses of Russian language if I get English medium. One year in preparatory faculty is mandatory if medium of instruction is going to be Russian. I was already in Russia when the admission process for this academic year ended so I'll try again next year.

Switching lines: I'll lake line 10 if the salary offered is 2x annual expenses. Switching to line01 is possible after being on line 10 for a few years, or after accumulating 12x annual expenses, whichever is earlier.

I'm on line 00 and an input that selects line 01 can come once every year until I'm 40. 40 is the year of age until when I can be considered a candidate for scholarship as per the rules.

Going from 10 to 01 and finding myself not being able to select lines 10 and 11 if I wanted to would be a nightmare. The same wouldn't be as bad if I went from 00 to 01.

01 is a prerequisite for 11 as I'd require a visa.

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Re: Under the Yoke

Post by Mister Imperceptible »

Apologies for being US-centric but when you write figures for money can you indicate whether they are in United States skee ball ticket format or India skee ball ticket format?

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Re: Under the Yoke

Post by jacob »

I think fiby41 stated at one point that all his journal numbers would be in Indian Rupees (Rs) (INR). Lakh (=100,000) (hecto prefix in the metric system) is common vernacular and 1 lakh of INR is about 1500 USD. So a quick way to get from Rs to $ is to divide by 100 and add 50%.

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Re: Under the Yoke

Post by fiby41 »

I could retire from looking for work if I have
50 cows or
1 kg of gold or
my weight in silver.

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Re: For every million I make another relative sues

Post by fiby41 »

Some people over here identify themselves as investors. In the same vein, I identify as moneylender.

10 months of expenses lent to SCBL to get 17 months of expenses over a period of 7 years.
Sārasvat, undeclined noun neuter gender ending in nonpalatal t, is the name of the community this bank was named after 101 years ago. They worked as scribes and bookkeepers during a time when the heads of heads of states were rolling but the underlying administrative and bureaucratic machinery stayed the same.
May Sarasvatī, noun feminine gender nominative singular ending in long e cognate Sarah, guarantee this transaction as she regulates eloquence in speech.

7.6 times of monthly expenses loaned to JSFB to receive 10x times monthly expenses after a period of 3 years.
Jana means people. Janan is the process of giving birth, verbal root to produce. Junta (janata) is public, janaka father, jananī mother. Whereas if Janaka is proper noun of the father, then the daughter can also be called Jānakī, which was the case for Sītā.
I invoke Janārdana of mighty arms to enforce this agreement as he keeps the arrangements of the celestials in place.

An amount that covers the expenditure incurable in 8.3 months was entrusted unto USFB for deployment on my behalf in return for getting an amount equivalent to 0.83 of the total annual expenses after a time frame of 2½ years.
Jīvana means life (Russian jizn), jīvikā means means of livelihood, the prefix ut (ot in Russian) gives ut+jīvana=ujjīvana, revival.
I call upon Sage Dadhīci the patron saint of organ donation to give me the spine to endure the condition that would befall us when the gods can no longer use the weapons fashioned out of his bones effectively against the hoarders of water.

What would be 1 year and 7 months of expenses today but what would be atleast 3 years and 7 months of expenses on the downside or expenses covering for 4 years and 3 months on the upend 11 years from now were given to the GoI as long as they don't tell me what they do with it.
I invite Mitrá-Varuṇa, god in-charge of overseeing the honouring of contracts and of the worldly winds and of the mighty waves respectively, to do the needful, when they are vacant unoccupied by their vacation homes such as the London Mithraeum, coincidentally conveniently built under the site of the OG HQ of that country's reserve bank.

3 months of monthly expenses have been saved in the form of crypocurrencies (mostly bitcoin and etherium)
May Lady Fortuna look over it always.

3 months of monthly expenses have been saved in the form of alien currencies (mostly dollars and rubles.)
Let Kuvera, the treasurer to the gods and the regent of the northern quarter, guard them in peace.

In a previous update I said there are 3 types of banks. I lied. Since 2017 there is a new category mandated by the RBI called SFB. NBFCs are given banking licences when they bring 1 billion rupees of their own money to the table, lend not more than ₹20k/person for unguaranteed loans, have upto 5 guarenteers to the loan, list on the share market within 5 years of launching operations so that no single promoter or promoter group owns more than 40% of the bank, have 50% of branches in rural areas, are not run by JVs. This is in part to dissuade big industrialists to jump in with both feet. For those taking the loan the interests are upto 20% but the depositors get less than half of it. The debtors do so to buy sewing machines, tractors, manufacturing&packaging equipment or so I'm told.
Starring:
RBI as the reserve bank
SFB as the small g̶u̶y̶ finance bank
NBFC non-banking financial corporation
JV joint venture

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What's a little change to a pocket full?

Post by fiby41 »

I wanted to exhaust all 45 GB of this month's quota but at 40.27 GB we're at 90% efficiency. I bought the 1 year plan in around September for 0.18 monthly expenses and then forgot about the price. 9 months to go. There were news of another operator hiking the price but I came to know from a friend that this operator also hiked its price for all plans except the annual ones. This officially ends the Second Telecom Price Wars. The first ones was during a time I was too young to remember but it made talktime affordable and based on CDMA whereas the second was based on 4G. Both were bankrolled by surplus from oil.

Had my first interpretation assignment this month after 6 months of no work. Will recover 1% of investment when I receive the amount which comes out to be ⅓ of monthly expenses. Hourly rate came out to be 0.1 of monthly expenses. Things I learnt were:
1 Company needs you only until the non-English speaking party agrees to whatever deal they are trying to make with them. Maybe it'll be within hours or maybe after the factory visit. No one knows. After that you are only a nice to have luxury to the company and they'll make do with hard to understand hand signs and monkey gestures to communicate.
2 Unless you are billing on an hourly basis, say no whenever they ask you accompany them to dinner. Dodged a bullet here.
3 It is nice pocket money but no scope to go in full employment as a stand-alone skill.
4 I'm cutting myself short, they charge $150 in Russia.
5 Not such a great idea to have separate half-day and full-day rates unless there is a strong incentive for the hiring party to go for the full-day.
A day before the meeting they were desperately calling me every 2 hours for a second interpreter for 3 days, one for the businessman and the other for his family. A Moldovan was found. The day after the JV and percentage ownership of it was finalized both were fired. I'm currently unemployed but they don't have to know that. Next time I'll negotiate an unpaid-leave reimbursement compensation or a percentage cancellation fee to discourage such predatory hiring practices.

I still have to cover for 17 years of annual expenses to be FI. First security layer is father's pension followed by each parent's saving and my savings being the fourth security layer. FI is the transport security layer which need only be applied when I have to live in a city other than that in which one of my parents are living in. 3.4 is the golden ratio to FI in 5 years. A salary is fickonomical when it is 3.4 times annual expenditure. If I have a job when I'm FI I'd like to plow the excess savings into starting-up a business.

Attended a micro-controller workshop this month. Will attend another one on NLP next month. ₹200 and ₹3200 respectively for 30 hours each.

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I make it a point to spend 2-3 paise of every rupee I earn

Post by fiby41 »

Data consumption for this month stands at 37.34 GB which is more than thrice the monthly national average of 11.7 GB. The hard drive of the laptop failing led to Tethering and mobile hotspot falling from the top app by usage position along with efficiency which fell to 80%. Effective cost per GB came out to be 3 rupee 68 paise, after factoring in the cost of unused data as I have prepaid. My annual rental is little over half terabyte which costs ₹2.95/GB regard less of how much I actually end up using.

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Tints of FI

Post by fiby41 »

The per capita income here is half my annual expenditure. Which means I'm lacking in efficiency and poor in imagination, even if they maybe subsistence farmer where income = expenses with no savings/profit/surplus. We could distinguish tints of FI:

Barebones FI: housing of fired bricks, free running water, indoor plumbing, internet connection, electricity line, LPG cylinder

Current FI: All of the above (hence analogy of tint) plus access to employment within 1 hour either way via public transport not including wait time, affordable nutrition, use of heating for water

Target FI: All of the above plus gym membership, air conditioning, hispeed internet (=video streaming at 2x speed at 1080p without buffering), marriage and family planning expenses (1 child minimum), rent and farmhouse where I could indulge in uneconomical agricultural practices.

I need 2 years of full-time employment to achieve bare bones FI, 5 years of full-time employment to achieve Current FI, and 'settle down' for Target FI.

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unworthy person,a herb without medicinal property,a syllable that can't be used in a mantra-don't exist.Manager is rare

Post by fiby41 »

I could study MMS, MBA, or PGDM.
I will have to give CAT / XAT/ ATMA / GMAT exams.
There's a college right across the street which offers PGDM in retail and marketing. Total intake is 180/year. It'll take 2 years to recoup the investment when I get the average salary of postgraduates. There is another college with 150 intake 15 minutes walking. There are more colleges on the other side of the railway line but I'll need a motorcycle and cutoffs are through the roof. Fees and placements are higher too but the average salary to fee ratio remains same. The difference really accumulates over >5 years of jobbing, which I don't plan to do.

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Obligatory Lockdown Update

Post by fiby41 »

I cut my hair at a sharp angle and until they grow back can't use headphones as the hair behind the ears are poking tiny holes enough to scrape it.

Termites started eating the books in the drawers under my bed which is of wood so now I sleep on the floor but the nails in the walls are such that the mosquito net would hover two feet above ground level.

Hard drive of laptop crashed for a second time within 1 month of warranty expiring although I got only 3 months of utility out of it as it was not taken to Russia.

A graduation in any field is required to enroll into MA in Sanskrit which is something I could see myself doing. Fees are a month of expenses per year. Cons are joy of selfstudy may reduce, opportunity cost vis a vis a PGDM, it'll no longer be a hobby if I'm graded for it, FI accumulation-phase will get spread over a decade. Either way I'm going to compose a midium-size work before I die utilizing the flexibility in the early retirement phase.

The tree in front of the kitchen was being hacked and I'd like to think only two branches were dismembered due to intervening.

Portfolio down 30% from purchasing price.

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