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+1 Yeah, it is pretty simple. Why should you invest in a high risk country, when you can invest in a low risk country. It doesn´t make sense.

^^^ The majority of Americans support your view. They detest antisemitism. On college campuses, we are seeing a sizable minority of lunatic faculty and students alike showing hatred for Jews. Students I can almost understand - but faculty, that has never grown up or held a real job - is a travesty. Such is the cesspool of many of our universities in America.

I remember in HS a teacher prompted us with the introspective question of If you were a 16+ year old German before WWII who would you have supported. Everyone said they would have gone against the grain and supported the Jewish people. We are watching real time, the failure of peoples personal optimism when contemplating this question. College campuses across the globe sadly don't look much different than this. Regarding the conflict: Civilian deaths suck...we all agree...welcome to the reality of war that we have been fortunate enough to avoid here in the States for a long time. Regarding the sentiment: The amount of support for antisemitism right now is baffling. If you find yourself supporting or partaking in similar actions as the photo above....you're rooting for the wrong team.

Thank you for digging these documents up, @gfp, I consider Charlie Mungers thoughts about "passing on [what you haven't created yourself[-ves]]" highly interesting, from a generational planning / philosofical / practical purposes perspective. No matter what, the last shirt is without pockets. I will spend some time tomorrow reading this stuff and think about it.

You could be right, now that I think about it. He made a lot on the Fairfax options, but the BAC leaps could have been the BIG one. I don't remember.

Both of them, @Paarslaars!

Ow I thought he made it on BAC leaps?

I'm confused by the question b/c, at least as far as I understand it, it's just arithmetic - obviously absent some regime change or long-term distortion in supply/demand factors. And Japan is typically the exception that proves all sorts of rules so I'm not sure I'd look there for evidence of anything other than the power of a cohesive society (and the psychological impact of a stock market derating from like 100x to 5x p/e over a few decades).

Ericopoly was a frequent poster here for a long time who made an absolute fortune on Fairfax options (somewhere well into 8 figures IIRC) as well as some other outstanding trades. He left the board at some point unfortunately. Keep up the training!

I've be re-reading that first line and reflecting on it a lot. Thanks for sharing the original @gfp. WEB's response to the question is also instructive and pasted below. I'm know being corny, but i think folks who share their insights and wisdom on this site attempt to do just that. It's a lovely thing. Q: If you were to make an ethical bequest to Berkshire shareholders, what duties would you impose and why?” Warren: “I’d probably say read Charlie. I mean, he’s expressed it well, and I would say that if you’re not financially well off, if you’re being kind, you’re doing something that most of the rich people don’t do, even when they give away money. But that’s on the question of whether you’re rich or poor. And I would say, if you’re lucky in life, make sure a bunch of other people are lucky, too.

@Eldad, This topic was started December 18th 2013, when CoBF was running on a Simple Machines software platform. A few years ago, a conversion to the Invision software platform took place. I speculate this poll [the poll related to this topic] - and a lot of other polls - for all of us - unfortunately went south in that conversion, so this is a condition we can only circumvent by starting up a new topic about it with a [new] poll.

I can imagine! I will admit though, you are right - age does catch up quickly with a person. Currently, I'm traveling through Bali with the wife and little one. As traffic and sidewalks here are insane, I'm carrying the baby in a front carrier during the daytime. I literally had to train for this 2 months in advance doing yoga and push-ups like Rocky Balboa which has helped, but not completely mitigated back strain/pain. It's a heck of fun though! Btw, out of curiosity, how big is an Ericopoly sized portfolio?

LOL, maybe you are correct. My wife and I met in our teens, got married in our early 20s, had 2 kids in our mid-20s (less than a year apart) and were done in our mid-40s. It seemed like we were running at 120% for 2 decades and then all of the sudden we could stop and breathe.

I've tried today to look around a bit for this book, inspired by what has been posted recently here on CoBF about charty activities and Charlie Mungers will, where Andrew Carnegie was a major philantropist. I ended up being severely confused, because I could find so many editions of the book, that I wasen't able to distinguish them from each other. I do not recall having had similar experience earlier with any book since my start of investing. And the price spread I experienced today of what I see as first hand books was huge. Any help, - if any available - is very much appreciated.

@rkbabang Funny u should mention. I'm 48 with a 2 year old. Every day I'm thankful I'm doing this now rather than 20 yrs ago. Back then, I was so busy getting my career going that I doubt I would have been able to focus with studying, writing exams and manage kid expenses on a marginal income. The last 10 yrs, I had a chance to date and travel. Now, my career has plateaued, income and savings strong, I think I'm in a better position to raise a kid. Perhaps we justify our own reality?

Can someone post the results of the poll? I get an error message and can’t see it.

I just finished it, thanks for the recommendation. I started on his newer book "How Innovation Works: Serendipity, Energy and the Saving of Time" where he talks about innovation and what types of environments create it and which type of environments prevent it, and it's making me less optimistic as the US is clearly moving in the wrong direction and has been for some time. For just one example out of millions of possible examples see my last post to the BYON topic.

Sold Para for a trade but am getting interested in buying Sony. I like the music and gaming divisions. It's not Nintendo but solid at 15 times earnings. Big, high quality, conservative Japanese monster. Loeb went at it twice: https://www.hollywoodreporter.com/news/general-news/sony-rejects-break-up-plans-activist-investor-daniel-loeb-1240274/

He also sold Costco in the 300s I think. I would love to hear Munger’s reaction to that.

Just hold the dang stock as Charlie would tell him. He is too active. You think he would be selling 13% for 27x if Apple was wholly owned? Follow your own wisdom dude, be consistent.

I think Israel should immediately halt all military activities in Gaza, and conduct an orderly withdrawal, just as soon as all the hostages are released and Hamas leaders in custody.

Yea its a world class operation. Non traded REITs have existed forever. They're scummy vehicles, and they've always had redemption caps. I guess some of these folks just found out about them recently and cant process that a stock quote isnt a mark for a real estate asset, and that theres not really anything abnormal going on for the non traded reit at BX. Its also amusing because I dont see how one can whine about BX, without winning 10x more about BAM.

All good, it was definitely worth a try. After thinking about it today I am not sure why it is such a secret. It strikes me anyone in the business probably has access to the weightings so could run the numbers on each other. There obviously comes a time though where you need to do a little convincing of the regulators about the “true” risk weightings and perhaps that is where things get a little more complicated and hence privacy is key.. The exercise at least gave me some insight into the process and a range of capacity. My conclusion, and I think we all knew it anyway, is that IDBI at $7-8bn is a stretch even for Fairfax (let alone FIH) and they will need to pull in some partners. Even if it turns out to be ~60% its is still a lot (30% government 30% Life Insurance Corporation) Can they grow into it in 2-3 years, at a 60% stake of $4-5bn, I think very easily. Is it the wrong time/price to do it? Not sure, but a lot easier to digest now than 2 years ago. If they can get a deferred or staggered settlement (free option) then it looks even better. All speculation of course, but as usual they appear to have been skating towards the puck in terms of their balance sheet. If not IDBI, then the number you intuitively threw out there for equities in general, iwas decent guesstimate based on my fumblings

Spoken like a true pacifist. Welcome to the real world where you fight to save your country. The terrorists in Gaza will suffer utter defeat & humiliation, as they should. And if they continue to elect terrorist's governments - they are destined for a lifetime of misery.

Wounds outlive the physical in the mind and manifest themselves throughout future generations. This conflict was not the start of this war and certainly will not be the end. “It makes no difference what men think of war, said the judge. War endures. As well ask men what they think of stone. War was always here. Before man was, war waited for him. The ultimate trade awaiting its ultimate practitioner. That is the way it was and will be. That way and not some other way.” ― Cormac McCarthy, Blood Meridian (The Judge)