73 Reds

See, you evaded the issue. But if you want to change the issue to Trump, I have never been a fan of his but my educated (as a lawyer) guess is that each of the cases brought against him would have been overturned by more learned, higher courts. Lawfare, against any political opponent (whether I like him or not) has no place in our politics.

Who uses bonds or gold as a cash equivalent? Cash equates to instant liquidity. If you want to argue that a MMF is a cash equivalent, I'd agree with that. But something whose alleged value is as volatile as BTC is not only NOT a cash equivalent, it is not even something that most folks would feel comfortable owning over the weekend. When you rely on current popularity to determine the future of something with entirely no backing, I'd take the other side of your bet that you will ever be able to pay with it everywhere. Very smart, experienced people like Buffett and Munger have repeatedly expressed their opinions of Bitcoin. I wouldn't argue with them. Nor would I be surprised if one day you wake up and BTC is next to worthless. Personally, since there are plenty of viable investments out there I don't give BTC much thought. If Crypto someday fulfills a need for me, maybe I'll consider it, but likely never as an investment.

Indeed, no one argues against good, hard working people and a good immigration system. But the issue is, should breaking the law - whether we agree with it or not - be rewarded or should there be consequences to those who break it?

Defeats the purpose if you have to sell it every time you want to pay for something, no?

Who/what accepts BTC as payment?

That's exactly right. But one can't be for enforcement of laws but only those laws that suit one's own needs.

So once again, if you believe that is OK, you encourage more of the same - lawlessness.

That's not what I said, and I don't find the prospect of not being able to hire legals at all amusing. If young people choose not to work, that's a problem at the local level.

<<Cubs must only employ local legals. I am literally laying on the floor with belly cramps from laughing violently at the entertainment of watching Cubs try to find help from this prescribed legal local bunch.>> Your words?

Sorry Dealraker, I still don't understand why you think it is OK to encourage illegals. Of course we need immigration reform - both parties are equally guilty of complete neglect on that issue. But the answer isn't to suggest that we just continue to perpetuate the problem. Maybe in your part of the country you can't find legal laborers; personally I don't have that issue where I live and work. Sounds to me like local government and community leadership is failing you and that's where the solution has to begin when you get no help on a broader scale. And oh by the way, if we strictly enforce punitive measures on employers who hire illegals, maybe they'd stop hiring them and then perhaps many illegals would stop coming altogether. When breaking the law has no consequences the ensuing results are no surprise. Probably explains this week's election results.

So, are you proscribing that we continue to allow illegal immigration? I don't understand your point.

I think folks read way more into Berkshire's cash holdings than necessary. If/when Buffett has something better to invest in, does anyone doubt that he will? Otherwise, it is pretty clear that all potential acquisitions are currently priced too high.

CNBC is the financial equivalent of The Hallmark Channel. Every episode is highly predictable no matter what the circumstances with the same story lines told by the same mouthpieces. Interviews with Buffett and formerly with Charlie Munger - the best reasons to tune in - even got stale in recent years. They had one really good on-air talent - I believe his name was Mark Haines, but he died many years ago.

I put pools and boats in the same category - nice to have friends with both but would no longer want to own either one.

There is no moral equivalency between sponsored terrorist organizations and our Middle Eastern ally. Fortunately the majority sees it that way.

Not to get off topic but I never understood the gold standard. Why not a more useful commodity, like oil or steel?

Sure, the same way the US uses human shields because the Pentagon is located in DC.

Seems like the time to cash out of the TRS is when the stock gets too expensive to repurchase. Otherwise, they can continue to support the TRS through share repurchases.

Comment was made in jest but are any of these companies truly large enough to make a difference? With regard to commodities, what benefits does Canada offer to similarly situated companies in the US and elsewhere?

Can any one of those Canadian bargains move BRK's needle? Maybe he should offer to buy a Canadian province.

I see it differently. It is incredibly easy to hold onto great businesses when you don't look at them as tradable clicks. Buffett has talked about this often. Why would it be difficult to hold onto stocks but not so difficult to hold onto all of Berkshire's subsidiary businesses?

I suppose that by the same token Berkshire is a "no moat business". When you professionally analyze companies and give no credit to superior management your analysis is worse than worthless. Unless an idiot can successfully manage Fairfax, it clearly has a moat.

My thoughts about Berkshire extend well beyond the present time. How does Buffett view the future? If investment alternatives are limited now, what about 5 and 10 years from now? How large can Berkshire grow until something needs to change? Will any such changes happen during Buffett's tenure, and if so, what will they be?

No share buybacks is not real surprising, particularly if you go back and read his last downtrodden letter to shareholders. A combination of stretched valuations and stalwart holdings with a lot more future uncertainty doesn't provide much buyback appeal.

Why are folks complaining about MW? Personally, I wish they'd come back - it provided a great opportunity. BTW, how do you measure ROI on the TRS? Has to be one of the all-time great trades/investments so far.