Luke

Close to fully priced? I disagree With the rest, i agree

Thanks for sharing @John Hjorth Ill let you know what my broker will do or if i have to send in documents to get the taxes back, i think it will be the latter.

Very interesting thread, @John Hjorth, how much do you get taxed for Investor AB dividends in your broker/denmark?

You cant ,,override,, your fear instinct, some people get more experienced and therefore dont get anxious as quickly (extreme mountaineers etc). Any normal person wouldnt even get on the mountain to begin with, for rational reasons. Yes, people who engage into religion do it for rational reasons-->their own interests.

But that can also be a feeling into the lovecraftian direction...

But to get into the ,,religious,, corner a bit. When i walk through austrian mountains, see the stars, it makes me wonder and admire how amazing this universe is. I also feel part of something bigger, but its not as simple as some religions make it.

If i see berkshire crash 90%, i am happy to see that actually, because i understand there is no danger. My grandma would get very anxious because she might have no money for her pension if that happens. Real reason for fear. Some people have learned to fear things which is a special situation but also that can be explained by cognitive processes. Lots of our behavior is hardwired and that is a good thing because it keeps us alive

They freak out because they know very well that they lost a lot of money, in theory. Why is charly munger not anxious? Because he understands there is nothing to fear. Why is the average investor anxious? Because there is a real reason for his fear ergo-->he might have gotten something wrong and lost a lot of money/ressources.

To add onto the people act in their own interest. Religion is only a tool that is used to convey once own interests: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3161130/ We argue that a central function of religious attendance in the contemporary U.S. is to support a high-fertility, monogamous mating strategy. Mating strategy is more powerful than standard personality variables in predicting religious attendance. These findings suggest that reproductive strategies are at the heart of variations in religious attendance. https://www.researchgate.net/publication/43023702_Mating_Competitors_Increase_Religious_Beliefs In Experiment 1, people reported higher religiosity after looking at mating pools consisting of attractive people of their own sex compared to attractive opposite sex targets. Experiment 2 replicated the effect with an added control group, and suggested that both men and women become more religious when seeing same sex competitors. We discuss several possible explanations for these effects. https://journals.sagepub.com/doi/10.1177/0084672420909460 The remaining sections demonstrate how religion may function as a signal for mating qualities associated with a long-term mating strategy and how different facets of religiosity may help to support long-term mating strategies.

Well, no animal is perfect, and mistakes are costly, sometimes death, natural selection I dont think its true that eating a bunch of sugar and fat is the standard equipment of humans, yes sometimes eating chocolate is nice but too much is punishing you too. You will feel awful eating too much of it. We dont ,,ought,, our evolutionary instinct, they just comes into existence if we want it or not. If a man sees a hot chick on the street, his brain is faster than himself, he will look first and then he can adjust his behavior (if he thinks it will have consequences if he continues to stare) Fear instinct is to some degree something we learned, to some degree automatic. Cant choose that either, some people getting paralyzed, some pumped and can run away. Why is it silly to follow your own instincts? If other people tell you how you ,,ought,, to behave, its probably in their own interest and not in yours :)!

@stahleyp @rkbabang Think it fits nicely into this discussion. Natural Law: What our innate nature tells us Psychological research on infants shows us, at an very early age, children start to understand whats fair or not. Thats as close as we can get to the concept of ,,moral,,. What most people seem to be equipped with from the start (not all, deviations are there, psychopaths etc)

Perhaps this enables us to buy some quality swedish companies for a cheaper price at some point @John Hjorth thank you for sharing!

Great Ideas!

Regarding Patent theft, something that comes up often also here on the board: https://www.abc.net.au/news/2018-09-26/china-is-after-intellectual-property-not-always-illegally/10302424 'The US Government does the same thing' But Professor Greg Austin from UNSW Canberra Cyber said the evidence that information was applied in the marketplace for commercial gain was "very thin". "The ASPI report puts almost no evidence in the public domain of a significant case where the Chinese Government has stolen commercial information since 2015 and put that to the advantage of a Chinese private sector corporation." For example, he noted, the United States Steel Corporation and Westinghouse, two companies named in the US indictments, have not in fact suffered any commercial disadvantage. "So the picture is not really what ASPI and others are painting — one of decreasing competitive advantage of Western corporations because of what's happening. That's not the reality." Professor Austin described industrial espionage as just a normal part of international relations — practiced by China, but also by the United States, France and Israel. "If you look at the CIA organisational chart, you'll see that two of its four intelligence directorates are involved in scientific, technical and economic espionage," he said. "I'm confident that the Chinese Government continues to engage in intellectual property espionage; I'm confident that the United States Government does the same thing." "The bigger policy issue that the US Government put on the agenda in a special report in March this year … was the Chinese policy of pressuring foreign corporations investing in China to hand over their intellectual property … under Chinese law," he said. But Professor Austin said the Australian Government would be better off putting its policy effort into protecting companies from coercion by China, rather than focusing on "the hardly proven cases of cyber espionage for commercial gain".

It triggers people, creates clicks, often its biased or one sided. Hard to find good information, also due to huge language differences.

China is THE hot topic for the media:

Yeah, thats what worries me with semiconductor companies, you need a really competent Team in order to run these businesses well and maintain competitive advantages.

Exor has a fund where they invest their money into 50 family controlled companies because of possibe outperformance, so they must think so too. I have that from an earnings call from last year or so!

Interesting, yeah i cant tell. UBS seems to have done quite the analysis on relevant literature but i couldnt refute what you say, complex topic. There are also interesting stock picks in the PDF.

Interesting article by UBS, thought its nice to share and an interesting element to keep in mind when investing. ubs-why-do-family-controlled-public-companies-outperform.pdf

Thanks for recommending!

Starter in Investor AB

Yeah that would be really cool :D!

+1!

https://asia.nikkei.com/static/vdata/infographics/taiwan-economy/?utm_campaign=IC_asia_daily_free&utm_medium=email&utm_source=NA_newsletter&utm_content=article_link&del_type=1&pub_date=20230531190000&seq_num=__SEQ__&si=6dfb7e99-152f-4dde-88a8-d168e413458c Really nice Article: How Taiwan became the indispensable economy!