Luke

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.

Meanwhile Europe and US promising no more ICE Cars and then want to get into trade wars with China when:

1. No centrally planned economy 2. Capable of change 3. Competitive advantages rising-->trade wars: https://www.politico.eu/article/french-urge-eu-declare-trade-war-against-china/ 4. Youth unemployement was at the same levels after 08 in the US, this too shall pass and long term investors can buy chinese companies at all time low valuations right now. 5. Birthrates shall recover at least a little bit with the right policies, i think china can do it. 6. Crime and underworld when there are 400000 cameras in Shenzhen observing everything. Their homicide rates are one of the lowest in the world.

Yep, as long as you compound above the interest rate you'll make money, really depends on for how much you can borrow, for how long and if you can find good investments that beat the interest paid.

Very nice article thanks for sharing!

I mean that munger said somewhere that his initial investment with himalaya went up a considerate amount already since the start. I dont remember where he said it but somewhere to be found, i also think he mentions the exact number.

Yes i heard that in a talk too that he has a few hundred million with himalaya. Wasnt it that Li Lu made Munger a pretty impressive return very quickly or something? I watched the one lecture released 2 years ago but should revisit, great stuff!

I contacted their fund a year ago, was closed and sometimes open for endowments and family offices but was possible to leave name and they might reach out. I expect huge minimum investments if one can even get in, so isnt anything for me. Would really love to know his returns since inception, if anybody has more detail and is allowed to share please do.

This is a story told by Mohnish Pabrai in one of his videos. Li Lu moved to the US due to China threatening him for taking part in the protests that led to the tiananmen square massacre (not really moving, he got funneled with support to survive and dont go to prison). Then he started studying again in the US(already got a chinese degree) and during his study he used the student loan FLOAT that he had for a few months (until he had to pay it back) to invest it into the stock market. Apparently after finishing multiple degrees after 3 years, he was already a millionaire by that time due to returns on the short term float. This all was around 1990-1995, a million was quite more than it is today. To me this sounds unreal and to good to be true but his results obviously speak for themselves. As of today he has around 18b under management, around 3b we can see of US holdings (Micron, Alphabet etc you know it). What do you think of this story? Everything i read about Li Lu was very impressing to me, very private investor though and little information and talks available unfortunately. Greetings to Li Lu and lets hope he publishes more of his wisdom!

Doesnt bother me one bit, i get more earnings power for a cheaper price, they continue to compound at high rates, win win. Buying back their shares etc

Continued to read about it and opened a starter today, its not cheap but also a long runway, will just let it set in my account and follow the business over time

Friend of mine send me this name a year ago, i pushed the idea down, reports where not available easily, couldnt find any write ups. Few weeks ago i watched the interview with the CXO, was quite impressed, then i was recommended chris mayer who still owns it (twitter thread from CXO about a new acquisition today)-->

Opened a position in Teqnion AB