Luke

Anybody here into classical music? Having a nice listen at the moment, all time favourite and out of this world:

Also, quite ridiculous how much money was spent on this rescue mission. If I go to Everest, to get rescue, I have to pay for expensive private insurance companies and have to hope they don't just leave me on the mountain. Then we have OceanGate, a fraudulent company, taking huge risks for tourism playing with the lives of a few billionaires and the taxpayer pays for 5 days of fuel for airplanes, Armies and what not to get these people out. WTF? If someone decides to go to Everest, he has to pay for the consequences or hell be left alone on the mountain. The same should count for OceanGate and Pakistani billionaires. I hope their families have to cover this bill at least...makes it very difficult to empathize with them for me. Actuall homeless population starving in some countries, lack of healthcare etc and they spend a couple of millions+ to save a few idiots who took risks to see a boat on 4000meter depth...!

If i find more i will let you know. Chinas massive growth since 1980 is represented quite well in the graph, same is true for the dutch global trade dominance in 1600-1800. Id personally assume Chinas growth to decrease a bit but steadily increase still.

Crazy...

All dead, what a shame. As @John Hjorth already said, the fault relies on OceanGate, the CEO and their pathetic design and testing.

Game Over?

Couldnt agree more.

Interesting Graph from Bridgewater associates.

Very nice, some fresh wind.

https://www.ft.com/content/d0b94966-d6fa-4042-a918-37e71eb7282e Western manufacturers will be able to de-risk their operations in China but will find it impossible to cut ties completely with the country, according to the head of one of the US’s largest aerospace and defence companies. Greg Hayes, chief executive of Raytheon, said the company had “several thousand suppliers in China and decoupling . . . is impossible”. “We can de-risk but not decouple,” Hayes told the Financial Times in an interview, adding that he believed this to be the case “for everybody”. “Think about the $500bn of trade that goes from China to the US every year. More than 95 per cent of rare earth materials or metals come from, or are processed in, China. There is no alternative,” said Hayes.

Watched a little bit about that, always enjoy Videos with him! Although i probably disagree with his diversification appraoch, we also saw what the Berkshire Duo had to say to that on the AGM :D!

What made you pull the trigger?

I watched multiple videos today, in one i think they said something like landing to close to the titanic is dangerous because of currents down there, at one mission they got stuck between the ship and luckily made it out. (different operator, was a science trip and not via OceanGate) I gotta agree with @Saluki, of course with skydiving the downside is way lower but with this here... They paid 250k to go down with a "daredevil innovator". https://www.smithsonianmag.com/innovation/worlds-first-deep-diving-submarine-plans-tourists-see-titanic-180972179/ For a handsome price, a daredevil inventor will bring you aboard his groundbreaking submarine to put eyes on most famous shipwreck of all RIP to the guys on board.

What a story, have been consuming quite some content about this the last hours. That lawsuit tells miles... We will know by tomorrow midday if they found them or not... Just a few weeks ago i have been reading about Titanic again and stumbled on their website, was pretty surprised one is able to go there but didnt think more of it. Then this today...!

https://youtu.be/-rQBVbmwSbI Bought some of the gear from Camper World!

Be careful what you spend your money on! What a horrible story... https://oceangate.com/expeditions/titanic-survey-expedition.html https://youtu.be/no0RVoIbvK4

Good luck!!

Thanks a lot for sharing @SafetyinNumbers

I only see @Saluki and @Viking buying Fairfax India in the past years. What does the rest here not like about FIH? Is it the fees? To me their assets seem pretty solid, as @nwoodman pointed out, the airport will likely make a nice return, the stock exchange should be a homerun, rest of the assets should benefit of the india GDP tailwinds too. New restructuring should increase exposure to the other assets.

https://www.woodlockhousefamilycapital.com/post/epictetus-india-and-patience Chris Mayer talking about his Investment in Fairfax India.

He is invested in Teqnion which is a conglomerate, also mentioned in that blog post.

Baidu, JD, Baba, Tencent, all very cheap good growing companies. China has 3500 year of history, last century a century of humiliation which Xi Jinping does not want to repeat, its very likely he wont. Things will continue, markets will continue, returns will continue etc. At some point in the future, maybe a few years out sentinment will shift, maybe Xi Jinping dies and they reelect a new leader, i am a fundamental China bull.

GDP grew 7% after he took over and then Covid came, their actions did not end up working and they adapted, capable of change and opened up. Now China deals with the huge problems from its extreme lockdowns and of a rising rate environment. If we look back on China in a decade, this will look just like the US in 2008 and returns from then on will be just fine.