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Something to think about. These Europoors, seem to be just average people can afford to travel 4 weeks through US, pay for multiple airplane tickets, expensive Worldcup games and see more of America than many Americans have. Only roughly half of Americans have a passport and only 10-15% have been to Europe. Those Americans who can afford a Europe trip typically do a 7day trip and scratch of the tourist traps in Paris, Berlin, Rome and Amsterdam. So who exactly is winning here?

"If you have to eat a frog, you don't want to stare at it too long." "If you see a turtle on a fencepost, you can guarantee it didn't get up there by itself." Both of these came from Zig Ziglar.

small nibbles to Tencent Music and Badger Meters. Slowly building a position. I bought a few hundred dollars of Kraken Robotics by accident. I saw that the ticker had a quote on Robinhood, but sometimes they will show a price and won't let you trade it. So I clicked to see if it would trade or just kick me out. It worked. I have my original shares on Schwab (which charges me a fee for each trade because it's Canadian listed) and eventually Merrill started allowing me to trade it. Robinhood is my smallest account, but it also has the lowest margin, so I may buy more if the price keeps dropping.

If you listened to him in 2022 or those who quoted him. The piece of shit commit is warranted.

I had a lawschool classmate who was top of the class and he told me that he didn't talk until he was 4 also. He said he understood everything, even when his parents were discussing why he wasn't talking. He just wasn't talking. I have ADHD and wasn't diagnosed until my 40s, and if I'm honest, I might have some of the 'tism though I've never been tested. You're on here so your obviously smart and it runs in smart families. Ferraris have powerful but finicky engines. On my mother's side I have two family members who were supreme court justices in Latin American countries. I also have a cousin who doesn't make eye contact, doesn't talk much, but has published more scientific papers than I have read. I'd rather be in a family that has that trait (good and bad) than one with people who go to watch UFC fights on the White House lawn and can't figure out 20% tip on a restaurant bill without a calculator. Four is very young. Too early to tell. I just had a baby, and I know that being older (55) increases the odds of stuff like that. I do worry about it. But it's not something that I will be able to know, and I don't want it to interfere with the process of raising him. The fact that you're worrying about it shows your a present and concerned parent. So I think he'll be okay either way.

He is right about the premise, but maybe not about the conclusion. Okay, the stock market is overpriced. So put your money somewhere else. Where? Gold and Silver are at all time highs. Buy a house? That's expensive everywhere. Park it in bonds? Those yields are really low. If you really believe the market is overpriced, and that's a big if, you could add up all your long positions and short S&P index futures in the same amount. That way, you avoided the "buy VTSX and Chill" strategy, and if your stocks crash along with the market, you will still do okay if they don't crash as much as the market. It's the equivalent of that old joke about the two guys who see a bear in the woods and one guy says "run". The punchline is that "I can't outrun the bear, but I can outrun you."

Added a quarter to NTDOY

One of my favorite parts of Married With Children was Al Bundy's blue collar wisdom. For example, at his 18th birthday at the strip club when Bud gave his roll of money to the first woman he saw and was bored the rest of the night, he told his dad "this place sucks if you have you money." and Al replied "son, everyplace sucks if you have no money." I was thinking of a couple of others. "No one can do you your pushups for you." - My Soccer Coach in High School. And when I used to kickbox my coach was fond of saying "If you're gonna punch somebody once, go ahead and punch them twice." What are some of your favorites?

Apple TV has Formula 1 thru 2030.

I'm surprised they aren't acquiring entire sports such as Formula One or the UFC.

He'll be right sooner or later! Although I'm not sure the "piece of shit" comment is warranted. He's just stating his belief...no different than the bulls or bears...or Blake and Cubs! Cheers!

If only more "oligarchs" did this: https://finance.yahoo.com/healthcare/articles/snap-evan-spiegel-joins-mackenzie-072600191.html Cheers!

So, it's interesting. If you look at Holcim's press release at the time of the acquisition announcement, it talks about USD 1.5bn price or at that time, PEN = 5.0544bn. That it turn implies PEN 3.706bn equity value or PEN 8.10 per share based on 03/31/2026 debt levels, and probably closer to PEN 8.30 per share based on 06/30/2026 debt levels. That implies $11.90 per ADR and $12.20 per ADR respectively. Also, in an interview with Nicolai Tangen on 06/24/2026, the CEO of Holcim stated that the Peru market is amazing and is booming. So if I had to guess, the bid is going to be north of USD 13 per ADR to make sure that Holcim gets all of the 50% that it does not own. Time will tell.

TBF, those Chinese open source models have been heavily modified to censor stuff, at best. Worse, may have hidden Trojan horse in them. We won't really know until researchers take some extensive poking to it. We're seeing Google release cheaper models to address the cost, and over time, one of the hyperscaler will provide a free/open source model to run on their infrastructure to sell the service. Different systems, different limitations.

One thing that all Fairfax investors need to keep in mind. Mr. Watsa's holding period for his family shares is forever, and he has stated that publicly and that the continuity after him is his family. They have a dividend to support their lifestyle and time is almost inconsequential to them. And unlike most other investments where you can take a 5 or 10 or even 15 year perspective, I think Fairfax is one of those that could frustrate you even longer and genuinely test your patience. Also given the kind of companies they invest in, cyclicals, turnarounds, leveraged etc, it's not always a sure thing and neither is timeline apparently a major concern. Take resolute forest products., or blackberry, They were failures as far as investments are concerned, but I believe even worse is it took a decade or more to realize that. That can be true even with potential successes, Fairfax India/BIAL (or even Eurobank for instance). In the former's case Shareholders are waiting 11+ yrs with sub par returns whilst they are told shares are cheap and do not reflect intrinsic value. They may very well be, but I haven't seen much done to realize this value. So that's the level of patience that you require. I'm speaking as a shareholder of Fairfax since 2008. I've seen good bad and raging bull market in this time. Even with the run over the last five years, compared to indexing, I am still behind on the portion of shares I bought then. So if you are investing money you need for a college expenses, or retirement or something of the sort with a fixed timeline, you need to take heed, even if it's a decade out.

Interesting to see the asymmetry in inexpensive drones for attack versus expensive drone defense. Probably one of the reasons the US is interested in bringing the war with Iran to a close. US air defense missiles are quite expensive and the war has already likely depleted years worth of current production levels needed just to replace what has already been expended.

AGTF has had too much promises and too little delivery. They have a solid base with a delevered balance sheet now, but CEO seem to be talking about growth opportunities. I'm sure the CEO it's in frequent contact with Mr. Watsa. One thing for sure, if he's a good operator and discusses capital allocation with Prem, then in time a good result is very likely. But like many Fairfax investments, that timeline could drive a lot of people crazy.

A gas station masquerading as a county runs out of gas:

Doomers gotta doom.

Sold my AHRT position

https://www.cnn.com/2026/06/26/us/texas-schools-bible-curriculum-vote

https://www.cnbc.com/2026/06/26/jeremy-grantham-says-this-is-the-most-expensive-market-in-american-history.html

Thanks @Charlie I got the article and got it translated. I think it is sad that as a society we aren’t having more kids, plus I agree with the point, we are trying to over diagnose. I keep saying to my wife, that years ago people just on with things and don’t overthink it, and most of them turned out ok. @Xerxes and @Castanza I agree part of it is societal. We’ve set quite a rigid path for kids nowadays something counter to our entire history. It’s funny you mention school, I was recently thinking the same, and I’m fully expecting complaints from teachers already.

Thanks for laying this out — I agree that Holcim’s intention to tender for all remaining shares is an important incremental point, and the overall setup is interesting. I may be missing something here, so please correct me if I am reading the filings incorrectly, but I think there is one nuance on the implied price. One caveat on the “~$13/ADR” number: it comes from the higher S/1.85037bn figure in the initial 13D. But CPAC’s May 27 6-K / SMV response includes Holcim’s statement that no CPAC per-share price was expressly agreed; instead, the agreed price was S/1,640,327,224.69 for 99.992136% of Inversiones ASPI. If you allocate that amount to ASPI’s 211,985,547 CPAC common shares, it implies about S/7.74 per CPAC common share, or S/38.69 per ADR. At roughly 1 PEN = 0.292 USD, that is only about US$11.3 per ADR. So I would be cautious about treating ~$13/ADR as the floor. The final OPA price will depend on the SMV valuation process, but the lower disclosed ASPI purchase-price figure suggests a materially lower anchor.

Gee, I thought they came to America for the trash bag lined streets of NY and LA!