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That pretty much hits the nail on the head. The current open call for "Democratic Socialism" by Mamdami and associates is waking up many Americans - Democrats included. It's not going to work - it will always be a fringe movement that repels most Americans.

So I finished reading Gambling Man. it is short, yet thorough. I highly recommend it. Alongside Money Trap. Softbank has a lot of issues (governance, leverage etc). But no one can deny the wealth that Masayoshi Son created for himself and long term shareholders.

sorry just saw this now. I myself really enjoyed the one about Portuguese and the other book on Venice. Both of which I am planning to reread.

That is true. However a two-party system works because the pendulum rarely moves too far in either direction before it changes course. I don't agree that the US is moving toward socialism because its greatest support comes from the young and inexperienced who eventually grow older, more experienced and value their hard-earned savings. No different that any time in the recent past when welfare, government handouts and subsidies were always supported by the same groups who now support socialism. The main issue is immigration reform. Once we stop allowing anyone into this Country indefinitely, what many of us would now call "common sense" may well return.

The world and humanity has drastically changed over the past 239 years.

The problem is how campaigns are run and all the money requirements around advertising, debating, tv time etc. Tackling that problem would probably be one of the best things the US could do for long-term survival and to change course from the current Highway to Hell the two party system is paving. There is simple no incentive for anyone in either of those parties to do so. The appetite has always been there from the populace, but it has always lacked any assurance of success which keeps individuals from shifting that direction. I've voted third party the last two elections. In the Western World there seems to be a trend of new parties taking up the torch and actually beginning to carve out some small wins here and there. I cannot and will not speak to the views of said parties, but in the UK I saw the "Restore Britain" party has had some minor success. perhaps it's simply the sign of the times...

It has worked well for 239 years, but the US Constitution does not prohibit a third party. It is the democrats and republicans that make it difficult for a third party.

Morocco is a joy to watch. I hope they go deep.

I no way do I support taking Canada or any aggression towards Canada. You guys have been great allies and more than carried your weight in the Middle East and countless other wars (necessary or not). So purely hypothetical....And I get it, you're a proud Canadian who's been fired up since Trump made those distasteful comments. But the idea that the US would struggle to "take" Canada is laughable at best. There is like 70k active duty and 30k reserves. Generally about 1/2 to 3/5 of an overall force would be support roles and not even combat related. The US has 3,500 active duty 75th Regiment Rangers and another 7,000 Tabbed Rangers. There is another 7,000 Green Berets, 2,900 Navy SEALs, and about 1,000 Special Tactics Operators in the Airforce. So looking at just forces focused on tactical missions or capture of strategic assets you're close to half of what Canada could even field. Then you have the real land forces with 171,000 Marines and 458,000 active duty Army Soldiers and another 500,000 in Reserve. This doesn't include any equipment like Battle Tanks US 4,000 vs CAN 100 and Combat Aircraft US 3,000 vs CAN 90. Then you have the general populace! The US has like 5 guns per citizen in private ownership. "Rifle behind every blade of grass." Canada has strict gun laws and pretty low ownership outside of hunting rifles. IF the US went to war with Canada, it would be a training exercise....

I don't know, people, particularly non-US residents have been selling us short for our entire existence. When have they ever been right? With all its faults, our political system encourages freedom and success better than anywhere else. Most people cannot even agree on the definition of "common sense" so where would it get us?

I agree even if the third party is much smaller it would probably force compromises to get anything passed. It could be a party in the middle and called the Common Sense party.

drowning in taxes in the future. That is, if it's true that money doesn't grow on trees. Blake, thanks for posting that. As a resident of one of the two best states to do business, "invest local" is and has been a very good theme. To the person/company, everyone I do business with is highly optimistic about the future. A friendly suggestion for you: Move to a business-friendly State; it might just change your outlook.

I've owned A. Midsize position in Fairfax India for a few years and recently bought A starter position in Constellation. Dino Polska is kind of interesting . Kind of like early Walmart. Probably deserves its own topic post. I looked at it a while back but I hate retail. And that's retail in a developing country that is next to country at war

I bought BWIN for the two trusts I'm messing with and stuck with it. Up 33 percent but bought very little so it is not meaningful. I had bought AJG a couple years ago in both at $185 and now I'm game for a bit more of the brokers in these trusts. Decisions.

It was a bad day for public shareholders when Hub went private, the "pop" was typically celebrated but sorely disappointing. Back it comes.

Thanks. Found it: https://podcasts.apple.com/us/podcast/scuttleslops-openai-valuation-ryan-specialty/id1786912203?i=1000774614060

I’m having trouble posting the link, but the never sell podcast with MBI and Scuttleblurb recently talked about Ryan.

Prem spoke at a Washington area forum yesterday, after receiving a US-India Leadership Award. https://bfsi.economictimes.indiatimes.com/news/industry/india-tariff-reforms-open-unlimited-opportunity-fairfax-financial-ceo/132086440

FWIW, I reduced RYAN. The stock has recovered some but I did not like their last few earnings. Lost a small a out of money on that one (bought in too early and don’t add enough when it went lower).

I wonder what Chris Mayer‘s (the 100 bagger guy) managed accounts performance looks like. Looks like he has a lot of 0.5x baggers:

The country has moved left over time. The old democrats no longer exist - that party of Bill Clinton and Joe Liberman disappeared completely with the radicalism of Barrack Obama. And this new socialist democrat party has taken over. MAGA basically represents the values of Ronald Reagan - traditional conservative values. I would love you to define Trump's move toward dictatorship because it's silly. Separation of powers in the USA are working just fine. Congress and the Courts are a big check on Trump's executive powers.

Hub International files for IPO. Top 10 brokerage firm globally. When there is more info available, will do more of a deep dive. 1 of many articles below: https://www.insurancebusinessmag.com/us/news/breaking-news/hub-international-files-for-ipo--whats-it-worth-580619.aspx

They might have sold the position. We know they sold some earlier in the quarter to go under 5%.

"The arithmetic mean of all picks is up under 3%, well behind US indexes" Interesting

Blackberry stock price has jumped up by around 41.5% in the last one week closing at USD $12.48 yesterday! This stock price appreciation has come after reporting strong fiscal Q1 earnings that beat Wall Street expectations, fueled by a 26% year-over-year revenue jump. The partnership with Nvidia to integrate it's QNX operating system into Nvidia's Thor development kit is paying off. Great news for FFH stock holders.