Hektor

I feel one of the reasons for WEB not talking about them anymore may be to tamp down the demand that T&T are made available to field investor questions.

I intend to mean nothing. I came across the NYT article, thought that painted another side of recent India, and felt others might be interested in reading it.

Why paycheck to paycheck may be expected to continue? https://www.wsj.com/personal-finance/money-discipline-downsides-delayed-gratification-5770e346 The Downside of Delayed Gratification We’re all told that it pays to be disciplined in our spending and consumption. But the advice can backfire.

Also this. https://www.nytimes.com/2024/05/18/world/asia/muslims-india.html

https://www.nytimes.com/2024/05/17/business/china-property-mortgages.html China Says It Will Start Buying Apartments as Housing Slump Worsens Signaling growing alarm, policymakers ramped up efforts to stem a continued decline in real estate values. Chinese officials on Friday took their boldest step yet, unveiling a nationwide plan to buy up some of the vast housing stock languishing on the market. They also loosened rules for mortgages. The flurry of activity came just hours after new economic data revealed a hard truth: No one wants to buy houses right now.

How like is such a situation, where CR goes up and a %5 debt opportunity exists?

Agree. However, what would be the likely duration of this situation? It could be a long time if there is a once in a 50 or a 100 year event, I would think. I guess FFH is better organized now than in the past to at least tide over such a period, if not take advantage of it (I don't know how, though )

https://www.wsj.com/finance/stocks/is-roaring-kitty-the-internets-warren-buffett-b31d63bc Is Roaring Kitty the Internet’s Warren Buffett? "Perhaps Roaring Kitty is now part of a select cadre of elite active investors so highly regarded that whatever targets they choose tend to trade at higher valuations. This is sometimes known as the “Einhorn effect”: Whenever Greenlight Capital founder David Einhorn bet for or against a stock, his views had a persistent impact on its price. The legendary Warren Buffett appears to have a similar influence. " "Roaring Kitty has been posting a barrage of memes and clips from movies, including one featuring Marvel supervillain Thanos. With the amateur trading subculture as strong as ever, these cryptic messages may well play the role of the letters that Buffett sends annually to the shareholders of Berkshire Hathaway, which are analyzed and parsed for every bit of investment wisdom. "

I guess when it turns, people will continue to buy sporting goods, get married, eat at restaurants, fly in/out of airport, travel/vacation, bank, lease ships to ship goods, insure etc., and Prem (and his team) will do what they have done all along, and then insurance will turn again. Do you agree?

Thanks @ander

https://www.nytimes.com/2024/05/13/business/china-bullet-trains-ticket-prices.html China Is Raising Bullet Train Fares as Debts and Costs Balloon China is taking the rare step of sharply increasing fares for riders on four major bullet train lines, in its broadest move to address rising costs and heavy debts since construction of the system began nearly two decades ago. The higher prices for train tickets are part of a push to raise prices for public services. Earlier this year, water and natural gas bills started going up in some cities. Increasing prices can stem losses at some giant state-owned enterprises that provide these services. And making consumers pay more helps offset the falling prices that are widespread in China’s economy as growth slows.

RIP Jim Simons. The Man Who Solved the Market has some interesting read on how Jim Simons did it.

https://finance.yahoo.com/m/6f63c4a9-f79e-398b-abbd-30450d38d1df/this-day-in-markets-history-.html This Day in Markets History: Warren Buffett Takes Control of Berkshire Hathaway On May 10, 1965, In a boardroom on Cove St. in New Bedford, Mass., a young, crew-cut Warren Buffett took control of a decrepit textile maker. Stock in Berkshire Hathaway closed that day at $18 a share. Nowadays, the company's class A stock trades above $600,000 a share.

https://www.businessinsider.com/warren-buffett-paramount-billion-dollar-loss-2024-5 Why Warren Buffett's Paramount bet may have cost him $1.5 billion Famed investor Warren Buffett's Berkshire Hathaway placed a $2.7 billion bet on Paramount in 2022. It hasn't worked, at all — Buffett just said he has sold all his stock and lost "quite a bit of money." it looks like Berkshire sold its Paramount stake for $1.2 billion after paying $2.7 billion for it — a $1.5 billion loss. Which does indeed seem like "quite a bit of money."

The phone rang for WEB and CTM, but will it ring for the new guy(s)? I doubt it rang for BRK. He probably is saying that the new guy(s) must go hunting than await a elephant or a horse or a sheep. Also, they might have to work at cultivating the relationships so that the phone rings for them too. Some speculation.

This could be a risk, post WEB.

https://www.fairfax.ca/press-releases/fairfax-announces-the-passing-of-eric-salsberg-2024-05-06/?utm_source=press-release&utm_medium=email&utm_term=Mon+May+06+2024&utm_campaign=Fairfax+Announces+the+Passing+of+Eric+Salsberg Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U) announces with great sadness the passing of Eric P. Salsberg, who joined Fairfax in 1988 after acting as counsel to Fairfax on every major transaction it undertook since its founding in 1985. Rick served as Vice President – Corporate Affairs and Corporate Secretary for Fairfax, and provided strategic advice and guidance on countless transactions undertaken by the company over the years. “For all of Fairfax’s history, Ricky has acted as our consigliere and has always represented the true heart and soul of the company. He loved Fairfax and we would not have achieved the success we have without him. Ricky was our partner, trusted friend, and indispensable advisor for 38 years, and all of us here at Fairfax loved him, as did his family, friends, neighbours, and business colleagues,” said Prem Watsa, Chairman and Chief Executive Officer of Fairfax. “On behalf of the entire Fairfax family, we want to share our most sincere condolences with the Salsberg family on the loss of this truly special person.” Fairfax is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.

Thanks @gfp

https://www.bloomberg.com/news/articles/2024-05-04/france-s-macron-calls-for-reset-of-economic-ties-with-china France’s Macron Calls for Reset of Economic Ties With China. Europe wants more economic reciprocity from China, Macron says. French President Emmanuel Macron is calling for an update of the country’s economic ties with China, just as the country’s leader Xi Jinping is expected to travel to France for a State visit.

@stephThats a good one. This comes to mind quickly when comparing FFH with BRK

Thanks @nwoodman

From a Davita 8k today "Entry into a Material Definitive Agreement. On April 30, 2024, DaVita Inc. (the “Company”) entered into a letter agreement (the “Share Repurchase Agreement”) with Berkshire Hathaway Inc., on behalf of itself and its Affiliates (as defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended) (collectively, “Investor”), the largest stockholder of the Company. Pursuant to the Share Repurchase Agreement, at any time Investor beneficially owns at least 45.0% of the issued and outstanding common stock of the Company (the “Common Stock”) in the aggregate, the Company shall repurchase from Investor, and Investor shall sell to the Company, on a quarterly basis, a number of shares of Common Stock sufficient to return Investor’s aggregate beneficial ownership to 45.0% of the issued and outstanding Common Stock. The per share price the Company will pay Investor in connection with any such repurchase will be the volume-weighted average per share price paid by the Company for any shares of Common Stock repurchased by the Company from public stockholders pursuant to the Company’s share repurchase plan during the applicable repurchase period. Repurchases of shares of Common Stock by the Company from Investor under the Share Repurchase Agreement will occur on the date that is two business days prior to the date of the Company’s regular quarterly or annual (as applicable) investor call to report earnings (as publicly announced by the Company); however, if at any time the Company determines that Investor owns or will own (whether of record or beneficially) shares of Common Stock representing more than 49.5% of the issued and outstanding Common Stock in the aggregate, such determination will trigger immediate share repurchases by the Company under the Share Repurchase Agreement. In addition, pursuant to the Share Repurchase Agreement, Investor also agreed that it would cause any share of Common Stock that it beneficially owns in excess of 40% of the aggregate issued and outstanding shares of Common Stock to be voted or consented on any matter in accordance with the recommendation of the Company’s Board of Directors. The Share Repurchase Agreement does not amend, supersede or otherwise modify the Company’s existing restated standstill letter agreement, dated as of February 9, 2022, with Investor, which remains in full force and effect in accordance with its terms."