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I fail to see a Gestapo here. The same thing happened to me in the US actually. If a business complains about a review being offensive, Google may take it down. This has nothing to do with with free speech, it is just Google being lazy and they don’t want any trouble. You can find plenty of bad reviews of restaurants even with review gaming being a real thing everywhere including Europe: https://maps.app.goo.gl/NYTB8q2nfkHeNhUNA?g_st=ic On the same token you make excuses for X de- platforming unwelcome accounts because it is a private platform. What do you think Google maps is?

Yea it is very tough to do alright. I’ve always found it hard to buy a new position where stock has grown a lot before my purchase and also struggled with averaging up on existing positions I hold. Getting slightly better with time. Maybe I’ll have mastered it when I’m buffets age.

This is a correct, Buffett doesn’t care about prior prices or whether is a stock is rising or falling. This is actually hard to do and something I struggle with. I still don’t get why Buffett changed his mind so much on Google. He must have had some sort of Eureka moment. I hope it works out for them.

Well, the link on Berkshire Hathaway main webpage to the original gift letters is today removed : I found the page anyway here : And the links are still working. - - - o 0 o - - - Attached is the original gift letter til Belinda & Bill Gates Foundation. - - - o 0 o - - - From the gift letter : - - - o 0 o - - - So much for 'irrevocable', when you are among the richest [and powerful] persons on the planet. - Honestly, please give me a break. bmgfltr - 20060626 - 20260716.pdf

Obviously no longer a position but the flip to Musk would have been so sweet (& for personal reasons). Fortress made out like bandits, 2.7x in a year and a half, well played. https://electrek.co/2026/07/14/musk-buys-gas-turbine-company-apr-energy-grok/

You’re clueless. Europeans (really the world), are negative about America way more than the other way around. Look at the politics thread on this forum. Most Americans don’t know who Macron or Merz or Ursula is whereas Europeans are much more tuned in to the happenings of America and constantly make jokes and insults about the current U.S. President in particular. We Americans don’t really mind or whine about it as much as you though… Some of us Americans though do want Europe to be a better place for capitalism and economic prosperity. And for that, we have a single thread on a single forum on the internet (this one). Now go read Reddit. You will find many negative posts about America and almost none about Europe. Frankly, very few people care enough about Europe relative to America.

Sigh…it’s all very tiresome. But this is what you get when you’re too afraid to “offend” and don’t have real Free Speech. Of course now no one trusts Google reviews so this is a “win” for the politicians against “big, bad American tech companies” that try to have honest restaurant reviews. Sad to see Germany mimic the GDR/Soviets in some ways https://www.reddit.com/r/germany/s/emoFF7bj5C

Not much of a bounce. The Korean equity markets are starting to look like crypto markets…

Good meme. But one of buffets biggest strengths in my opinion is not letting previous stock price information (good or bad) have any influence in his assessment of whether an investment makes sense going forward. I believe Coca Cola was already a 2-3 bagger in the preceding 5 years before he made that investment.

He found a way to compound experience with ages. At 39 years old passing through a wall of 4 players, each worth more than 100 million. Never seen before, the higest scorer in a single world cup will also be the oldest.

Feels like you'll have time!

One didn't understood who Messi was, the other didn't know who that baby will become. Absolute cinema.

HaHa! Administrators are not supposed to harrass and insult board members, I think! [Mikes [ @cubsfans ] back is surface-trated with of mix of teflon and cryptonite, he can take it!] - - - o 0 o - - - Mike [ @cubsfan ] once posted a photo of him self, doing squats in the gym, with a lot of weight on the barbell! - - - o 0 o - - - That 'hair thingy' for men is continued production af prostestorone in the balls, combined with gravitation! The hair moving downwards to the chest and the back! There actually exists two work-arounds for it : 1. In stead of always telling yourself and others 'I'm pretty awesome', you start implementing 'I'm still awesome' or just 'I'm awesome', 2. In stead of always telling yuurself and others 'I'm pretty awesome', you start implementing 'I'm still pretty' or just 'I'm pretty'. - - - o 0 o - - - I'm always happy to help!

Cautious reporting on IDBI takeover by Fairfax owned IIFL. https://www.indiainfoline.com/news/companies/fairfax-emerges-frontrunner-for-idbi-bank-stake-sale-proposed-5-5-billion-deal-could-be-a-landmark-privatisation

+1! This. This is key, especially also here on CofB&F!

@jbwent63 & @73 Reds, From the Berkshire Press Release : Wasen't there also something in the original gift letters [2006] where the foundations should ramp up donations to secure that the transfers of shares were tax free for Mr. Buffett?

He has to maintain the fiction that his future boss could never have lost anything, let alone an election in 2020. The boss couldn’t bear to believe he lost a popular vote in 2016 either. We’ll hear more of the same directly from the boss’s mouth this evening in a televised presidential address. Sad!

HaHa! -And when GOOG reaches 2.000 or something like that and he sells a tiny bit, every Berkaholic [including me] whines like a whipped dog : 'Ohh-noo - why did you do that?!

Amazing Doo! Great job! Also, I think you may be Greg's neighbor! Cheers!

This was so pathetic to watch a grown man, supposedly a person we are meant to take seriously, respond like this.

It's a good starting point to value a company, there are many adjustments that need to be made after that. Excess fair value over carrying value is the most obvious one. But in order to come to a conclusion on valuation you need to have a return hurdle in mind. If ROE is 16% and you consider 8% to be a reasonable long term goal, then 2x BV is a reasonable valuation. there are other external factors like where we are in the Underwriting cycle, what are the interest rates. How well are their investments working.

That’s interesting. I don’t know either but I’m hoping it’s a GP LP structure where FIH is the GP and collects fees off of the LPs including FFH. It’s a way to fairly alleviate some of the criticism of the original fee structure as it provides a material offset. It might be the start of a new business model to really take advantage of the network Fairfax has built in India. A management fee and a performance fee on $4b+ of capital would go a long way. FIH also has exclusivity on all non Insurance holdings for FFH so if they were to give that up, FFH would presumably have to provide compensation. The GP/LP structure solves for that. Fairfax also has a rule where it doesn’t bet the company on one acquisition. My interpretation is that means not putting in more than 10% of shareholder’s equity into one invest at cost. That would be abour $2.6b so only about half of the capital needed. I think this means partners are needed and my guess is they won’t be hard to find. I asked Prem the question at the FIH AGM in 2024 and just listened to it again. It makes the most sense so I hope they do it. It’s the best way to scale investment in India. Link to Quartr app. Listening is sometimes better than a transcript although they have that too. Jump to the Q&A. https://web.quartr.com/link/companies/14781/events/336103/transcript?targetTime=0.0

Not sure how much he weighed but his rear end was about as wide as an office chair. He was completely on the opposite side of the fence as me so I don't think I was in any danger. I was worried that he'd eventually rip that post all the way through to get away. There was already a gash about a foot long. Not as much blood as I expected but I did ruin a shirt and a pair of shorts (NTM my buzz, which I promptly re-upped). I'm in Perdido Key, FL. The road out here is 2 lane for about 10 miles and is heavily wooded until you get to the key. It's not unusual to see multiple groups of a half dozen or more does along the side of the road at night. Anyone who visits the area should be vigilant when driving from Pensacola. The speed limit on Bauer and Sorrento Road(s) is 55 but I never do more than 45 at night. There have been quite a few accidents involving deer. I had squirrels nest in one of my boathouse lift motors a few summers ago. They chewed up a bunch of wires. Fortunately there was enough left that I didn't have to buy anything. Just clipped, stripped and rewired everything. Now I keep an eye on the lift motors for invaders.

Wow! That’s crazy, but nice of you to put yourself in harm’s way. Where do you live and how much do you think it weighed? My biggest risk happens to be bats and squirrels! Lol

My neighbor has a vegetable garden and the deer have discovered it. His yard is surrounded by privacy fence except for a section in the back where they get access. Last Friday night I was sitting out back and heard a big crash followed by a bunch of snorting and growling. I ran inside and got my Q-beam and shined it on the fence only to find a full grown buck hanging there. One of the aluminum balusters had pierced the skin on his rear haunch. The rest of his body was hanging there on my side of the fence. I called my neighbor but it was 2 am and I got no answer, so I ran around to his back yard to see if I could do anything. When I first got up to the deer he was struggling to get off. I rubbed his back and tried to tell him to calm down. Surprisingly enough, he did. The post to the right of the empty spot in the photo was buried in his left rear haunch. Fortunately it glanced off the muscle and didn't puncture anything but skin, but it was firmly lodged there and supporting his entire weight. I stuck my left arm through the fence and put my hand on his belly to lift him up while using my right hand to try and lever the skin up over the post. I was about to give up and he turned his head and barked, and I gave his belly a good heave and used my whole right hand to lever the skin off the post. When he hit the ground he shot out of there like a cannonball. It probably took less than a minute. Old boy was just lucky that post didn’t puncture anything more than skin. I never knew this before but deer hides are extremely tough and those guys are all muscle in the rear end. Anyway, never a dull moment here. I hope he’s OK.