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When I worked in Brasil this guy (king of the floppers) was grinning on damn near every TV commercial.

Situation can get out of hand quick. Me and the buck were lucky that this was so easy in comparison.

The bench is deep at CoBF. Meanwhile, I'm slinging beer and hot dogs in the stands.

memory is still probably cyclical so a low PE might signal the cycle top. I would agree MU could tank a lot more here.

NFL - The game has completely changed due to rule changes. The game is far less violent today than it used to be 15-20 years ago. NBA - The game and how it's played is just completely different. It's much more dynamic today than when Jordan played in the 90s. You can see the transition of the game by watching early 2000's- 2010's. Nothing wrong with it, just a different game. But the focus on individual skill vs team IQ has exacerbated the flopping.

yeah i don't see the Mag7 hyperscalers to keep increasing capex 30% per year for the next 5 years, they would need to start seeing return on their capital. So the market is forward looking and started to sell these AI names that were trading at hundreds of times sales knowing capex won't go up forever.

A few years ago I got a call from a neighbor who was at work to go over and check on his wife - she was in the back yard and their large dog was stuck on the fence. The dog was hanging on the fence and when she went to help him he got scared and bit her in the eye-lid and it was hanging off and bleeding everywhere and she was freaking out. I broke the fence boards so the dog could be freed without getting bit myself and took the neighbor lady to the ER where they stitched her up and later she got plastic surgery to fix her eyelid. Sheesh

I watched the part of the interview on Google but it was hard to follow (I'm slow today). Buffett also didn't reveal too much. Anyone have any insights? It seems like he looked at Google's competitors and thinks Google has the upper hand in this race. Said the others in the Mag 7 are playing a game they don't necessarily want to be playing. Wonder if it is something like his bet on newspapers where the dominant scale player attracts the most advertisement.

They certainly are resilient. We're a bunch of pussies in comparison. Opposable thumbs for the win.

It's a shame. Even something that was once super exciting; the dead spring between a forward and a defenseman to negate an icing call in an NHL game, ruined by stupid rules(no touch icing) that promote laziness in the name of "player safety".

Thanks @djokovic1 for sharing the presentation ! I have followed along the forum silently and am an investor in Fairfax based on my own learning here. Shout out to @Viking and others ! One point from the presentation I found interesting, and I'm wondering how others are thinking about it -- Fairfax seems to run greater leverage overall (~300% invested assets/equity vs other insurance peers and Berkshire). At the same time, a larger share of those assets sits in common stocks, which are generally more volatile. Berkshire obviously holds an even greater portion in common stocks, but its leverage looks like the lowest of the group, so it should be better positioned to withstand a drawdown. I suppose I'm just concerned about the tail risk here.

Not sure that's right for NFL quarterbacks. The great ones are rare, and unfortunately, need to be protected. Today's defensive players are almost lethal. So kinda depends - I like the NBA in the 80/90's with the more physical play. Maybe not as physical as the Pistons... but they were sure fun to watch.

Size matters. Who has got the biggest AI stack or rack?

There is a reason those fences are pointy on top . We had the same thing happen here in my neighborhood. Doe got stuck but it was more than just skin. Best practice if you aren't comfortable freeing the animal yourself is to call your local Wildlife Management Officer and they will come handle it. Sometimes they dispatch the animal in cases like that. For ours, the doe got herself off as they were going to her aid. Her rear leg actually ended up losing blood flow and she essentially had a "dead and rotting" leg hanging off her body for two years before it fell off. I do wonder what lucky neighborhood dog found that in their yard one morning. She ended up having multiple fawns the next two years regardless of the handicap and for 4 years she walked around the neighborhood with only three legs. Animals are extremely resilient and tough.

It's all about entertainment value and brand building now. Agents want to protect their assets hence all the rule changes imo. Look how quick star players fall from the limelight these days. There is no shortage of talent to pull from these days. The idea of a franchise player is done. Players realized they have to get what they can while they can because things can change quick with a 6 month sideline injury and well advertising moves on, agents move on, teams move on. There is a long list of "what happened to <insert name>" out there.

Well...at least you are coherent with your nickname...

I think we’ll get well above 2x BV at some point just less certain it happens over 5 years without a hard market but that’s a long time so definitely possible. Share counts dwindling and smart global investors like yourself owning it helps! I use 5-10x over 10 years which is ~17.5-26% CAGR. The low end may require no multiple expansion but the high end likely requires some.

Whiskybravo shakes fist

Thank you @SafetyinNumbers of course a big part of the knowledge is from the board with posters like yourself and @Viking I know you are more guarded on the exit multiple, but I am quite optimistic at some point in the next five years the market will give Fairfax credit for its 15-20% continued compounding and re-rate the multiple. Regardless high probability of 20% CAGR even if not 30%

I don't know about other names but just looking at da action, Micron seems to be headed straight to $600, no bounce I got no position in MU so whatever man but that's what it feels like for the memory names - straight down, no bounce

When you look at what was driving the rally, who was driving it, and then the why and how, it all kinda lines up with a top. Qualitatively and gut feel wise too, I think Ive got it right. Q2 very much felt like Q1 2021 when the Covid beneficiaries and hyped SPAC stuff just began crumbling after it exhausted the last of time dumb money. And just the same as then, the “you can’t short this market” refrains were consensus whenever any sort of bearish sentiment arose.

there you go https://podcasts.apple.com/ca/podcast/empire-world-history/id1639561921

CFTC Takes Big Swing in Pushing Back on Michigan Kalshi Order I got quoted in Bloomberg today, but more importantly they linked back to my personal site which should help a lot with SEO and mentioned me alongside some well know people in the industry which should help with Answer Engine Optimization (ChatGpt, Gemini).