Blake Hampton

The only good thing about Oklahoma is the cost of living

I live in Oklahoma btw

This was a great interview

Too bad Bernie Madoff died here recently, he could've been SEC chair

I can't imagine a worse pick for both Attorney General and Health Secretary

I'm not really a huge fan of gold but I don't completely doubt the reasons behind it. I personally like T-bills.

That's scary stuff, thanks for the response

Note the above is only for their equity portfolios. Benjamin Graham's take on broad diversification: "We recommended that the investor divide his holdings between high-grade bonds and leading common stocks; that the proportion held in bonds be never less than 25% or more than 75%, with the converse being necessarily true for the common-stock component; that his simplest choice would be to maintain a 50–50 proportion between the two, with adjustments to restore the equality when market developments had disturbed it by as much as, say, 5%. As an alternative policy he might choose to reduce his common-stock component to 25% “if he felt the market was dangerously high,” and conversely to advance it toward the maximum of 75% “if he felt that a decline in stock prices was making them increasingly attractive.”" I wouldn't recommend long-term fixed income at all right now, but this argument could instead be referenced using cash as a substitute. This is the tricky part for me as I think it's hard to gauge just how much to leave outside of equities in any given period. Considering his financial assets, Buffett is currently half cash and half equities

I created a spreadsheet, including some of my favorite investors, that lists their respective position sizes for each of their top 15 equity holdings. I read a excerpt written by Buffett a while back that aligns with the data, so I found it sort of interesting. The excerpt: "Charlie and I operated mostly with five positions. If I were running 50, 100, 200 million, I would have 80% in 5 positions, with 25% for the largest." The data is updated for Q3 2024 (in %): AVERAGE Bill Gates Bill Ackman Guy Spier Howard Marks Li Lu Prem Watsa Robert Vinall Seth Klarman Warren Buffett Stock 1 25.2 27.6 13.5 22.7 26.0 29.0 28.2 27.4 26.1 26.2 Stock 2 17.3 22.6 13.2 19.9 10.6 20.6 20.5 17.7 15.0 15.4 Stock 3 12.2 14.8 12.9 11.4 6.8 17.1 13.4 13.7 7.9 11.9 Stock 4 11.2 14.3 12.9 10.7 5.1 16.7 11.1 12.3 7.0 10.8 Stock 5 7.5 6.4 11.3 9.8 3.2 9.3 5.1 9.1 7.0 6.6 Stock 6 5.7 3.3 11.2 7.3 2.8 3.1 4.1 8.9 6.0 4.9 Stock 7 4.8 3.0 9.9 7.3 2.6 3.0 2.4 5.1 5.6 4.4 Stock 8 3.9 1.6 9.8 4.5 2.5 1.3 2.2 4.7 4.3 4.3 Stock 9 2.5 1.5 5.1 2.0 2.4 1.8 0.4 4.2 2.9 Stock 10 1.8 1.2 0.4 1.8 2.3 1.5 0.4 4.1 2.2 Stock 11 1.6 0.9 0.9 2.3 1.5 0.4 3.6 1.3 Stock 12 1.4 0.5 0.8 2.1 1.4 2.5 1.1 Stock 13 1.3 0.4 0.7 2.1 1.2 2.3 0.9 Stock 14 1.0 0.3 0.4 2.0 1.1 1.3 0.9 Stock 15 1.0 0.3 1.9 0.8 1.3 0.9 Top 5 73.4 85.7 63.7 74.5 51.7 92.7 78.4 80.0 62.9 70.9 Top 10 92.1 96.3 100.0 97.2 64.3 100.0 90.5 99.6 87.1 89.7 Top 15 98.4 98.6 100.0 100.0 74.7 100.0 96.5 100.0 98.2 94.8

You think restructuring is on the table, that's crazy.

Rob Kennedy Jr. is my favorite. I was recently overlooking the portfolio of my girlfriend's father, which he currently has sitting at Fisher Investments. They have him in a mix of 40% S&P 500, 40% long term fixed-income, and 20% GT. He worked at Goodyear to get that last one. If you look more closely at the mix of the fixed-income fund, it has all sorts of long dated bonds (30 year maturities) from outside the United States. The largest holding is actually a Mexican government. It blows my mind.

How does Buffett avoid macro factors when investing? It seems almost certain that the right approach is to simply move on and go find a cheap stock, but isn't there some basis for consideration? Shouldn't the overall valuation of a market have at least some effect on decision making? The man has a masters in economics and seems to understand it to a tee, but then almost recommends to eschew that same data. I'm confused.

I don't quite understand why you shouldn't connect to free or open networks. What exactly is the risk?

Corner of Berkshire, Fairfax, Bitcoin and QAnon*

“The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball. They know that overstaying the festivities — that is, continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to generate in the future — will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is one helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There’s a problem, though: They are dancing in a room in which the clocks have no hands.” I think that endings are generally predictable in foresight as well as hindsight, it's just that the clocks don't have any hands.