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"Or pretend not to know" is a great way to put it. We all know housing (renting or buy) is inelastic, and prices react violently with a demand shock, rising disproportionately with fixed supply. You can see it in the chart.

Says the open border and Antifa lover...

Weak ad hominem from a guy who can't tell the difference between correlation and causation.

You're hilarious - "weak correlation"?? & "heavily politicized"? When BOTH prices rise at the same time, the obvious conclusion is STRONG correlation. From a Federal Reserve that Trump has been totally frustrated with. Heavily politicized? Using ACTUAL historical data. You never run out of excuses when faced with facts.

Get rid of depreciation expense and the 1031 exchange program and you'll get rid of the big parasites that are driving up prices.

The existing title system is already quite efficient because with the passage of time and as property changes hands, there is less and less to research. The issue is, what are we insuring against today? My guess is, it is more and more scams, as opposed to legitimate title issues and questions, which are routinely picked up by title examiners. Tokenization probably would not make difference because unlike all other insurance, title insurance only provides coverage for prior events and is relatively cheap to begin with.

Surprised he sounded down on Apple. Maybe he was just a big Tim Apple fan

Charlie didn't give a single f who he offended. Warren does care about PR

But why do we need tokenization for this? The existing title system could probably be made more efficient but at least there is a public body there that people can trust.

Yeah I was saying this for a while, everyone was pretty exuberant about France but they never really faxed a strong team yet... and they choked. Shame cause the potential was there but always happy to see Mbappe lose.

That’s penalty decision against France was questionable, imo. The French looked soulless in this game and Mbappe was nowhere to be seen. I guess that’s how you win in against a team with a star player. Kudo’s to the Spanish defense and midfield. They destroyed the French game and while it wasn’t pretty , it surely worked. They clearly were the better team.

I hear you - these methods work, and ROE as a sanity check on economic book value makes sense. Also, hello...hope to catch up more at the next conference. Need as many smart and generous people in my life as possible! You'll have a perfectly decent day if you ignore the below. But if you get bored, humor this ridiculous & unrealistic thought experiment, if you will. How would you fill in the blanks? Is the premise too ridiculous to even consider?

Fairly good summation of the SOH tolling 'thing' ...... https://oilprice.com/Energy/Crude-Oil/Trumps-Hormuz-Toll-Could-Upend-Global-Energy-Trade.html 'Imposing a charge equivalent to one-fifth of the cargo’s value would achieve almost exactly the opposite. It would transform a temporary geopolitical disruption into a permanent structural cost, replacing the risk of an Iranian blockade with an American toll that could be just as damaging to energy markets. After spending enormous political, military and financial resources trying to preserve freedom of navigation, Washington would effectively begin charging the world for the freedom it claims to have restored.' 'The resulting levy on oil and gas could therefore approach $115 billion per year under fairly moderate assumptions, before including petrochemicals, fertilizers, containerized goods and other commercial cargo. This would not be a conventional shipping toll based on the cost of providing a service or maintaining infrastructure. It would be an ad valorem charge on some of the most important commodity flows in the global economy.' 'Washington would effectively be asserting that military protection of an international shipping route creates a right to collect a percentage of the goods passing through it. That principle would have implications far beyond the Gulf. If naval protection creates a right to tax commercial cargo, other military powers could make similar claims around contested maritime routes. The distinction between securing freedom of navigation and monetizing control over navigation would become dangerously blurred.' 'The direct 20% payment would therefore be only the beginning. War-risk insurance premiums would remain elevated, while shipowners could demand additional compensation for crews and vessels entering the region. Financing costs would increase because cargoes exposed to possible seizure, delayed payment or changing regulations would become riskier collateral. Traders would build larger margins into contracts, and buyers would seek supplies from routes not subject to arbitrary charges.' One has to be truly gifted to f*** ** this badly Gasoline prices have already begun to reflect the now higher crude prices; it is only a matter of time until US refineries start failing (running at capacity, no maintenance shutdowns), China has already further scaled back its refining, and the Saudi East West pipeline terminals at Yanbu are very vulnerable. Houthis don't have to destroy, continually damage enough to progressively reduce throughput .... is good enough. Of course ...... most would expect Orange Boy to do whatever he can to lower gasoline prices, and the speculative community to squeeze US inventories as much as possible. Rising volatility, rapid change, pending mid-terms, and an 80 year old dealing with the pressure ..... what could possibly go wrong SD

Insurance belongs to FFH - I don’t think they need to consolidate, perhaps similar structure to Anchorage but instead of Omers, have FFH

Call me skeptical. At age 95, Munger was much better at keeping his cards close to the vest.

Buffett on CNBC https://www.cnbc.com/video/2026/07/15/warren-buffett-ended-gates-donations-to-give-more-to-my-children-not-because-of-epstein-ties.html https://youtu.be/vaHbb3-tHQA

Buffett on Warsh - https://www.cnbc.com/2026/07/15/buffett-says-trumps-pick-of-kevin-warsh-for-fed-chair-was-good-choice.html

https://www.cnbc.com/2026/07/15/warren-buffett-calls-bill-gates-actions-with-epstein-distasteful-but-people-make-mistakes.html at the very end of the video - Buffett broke his leg a few weeks ago and had surgery and is recovering well. 96th b-day coming in a month or so

Thank you @gfp. From the interview: Becky: You did not buy when they were asset light, but are when they are spending big on assets. Why? Warren: I made a mistake. Any idea why he is willing to buy now but not back then? I am sure he is deflecting by the "I made a mistake" answer. Any thoughts on what he is not giving away?

Yeah, this issue isn't that difficult. We don't even need studies other than for those who can't understand that illegals absorb everything needed by those who are here legally.

Worth a watch - https://www.cnbc.com/2026/07/15/warren-buffett-tells-cnbc-he-initiated-berkshire-hathaways-investment-in-alphabet.html

Thank you very much @rajpgokul ! My *main* concern after looking at the raw numbers since 1999 is the quality of their current loan book. Good to hear that they cleaned it up. They are a bit overcapitalized now, debt level, deposit to loan ratio, current NPL trends and efficiency ratio all look well. So not much concerns here.

Now half time would be twice as long for the final because there needs to be a half-time show with Bieber & Shakira... Damnd American greed really does trump everything.

Actually this chart shows a weak correlation between rents and home in the short and medium term. Since 2020 (Biden’s term), home prices have increased much more than rents. However, since illegal immigrants (which allegedly surged during Biden’s term) rent rather than buy (because they can’t buy in 95% of the cases) how can this be - it should be the other way a round? The Fed study from the heavily politicized Dallas Fed is a draft paper. There are other studies that you can find showing a very weak correlation between immigration and home prices. In the US we have the situation that a lot of construction labor are immigrants and many of them illegals. What happens to the supply situation when they are gone and what is the net effect? It doesn’t seem that straightforward than you make it to be,

The pain for the IRGC is going up substantially next week. Bridges and power plants. https://www.iranintl.com/en/202607156387 "Next week it gets really bad for them because next week comes the power plants," he said. "Next week comes the bridges. We're gonna knock out all their power plants. We're going to knock out all their bridges unless they get to the table and negotiate."