73 Reds

@dwy000 just curious, what exactly to you invest in?

How many years ago was it when Buffett proclaimed that insurance float would begin to decline? Nothing is predictable except for the strength of Berkshire's balance sheet. Seems as if Buffett's priority this year is to leave Greg with a company completely beyond destruction and one with endless possibilities.

The problem here is everyone jumps to their own conclusions without a grasp of all the facts. Like every other story resulting in Trump-hate, the real facts will eventually come out. But in general, as for anyone Trump has the ability to hire and fire, it is within his purview to fire someone, particularly an official left over from a prior Administration which accomplished next to nothing.

Doesn't make it any more reliable.

Slow day today. (Sorry, couldn't resist).

Thats the very issue. Who relies on initial numbers that are certain to be revised?

How do you know any of this? The fact that the numbers are later proven wrong so often suggests there are problems and issues with the surveys and the collection of data.

@Viking thanks as always for your valued overview and perspective. What struck me was your comment that interest and dividend income was the most important income stream in Q2. Leaves me wondering whether that remains management's goal or is the objective to methodically build up other streams of income so that interest and dividends eventually take a back seat to more direct and hands-on investment income. How closely will Fairfax follow in the steps of Buffett and Berkshire? With the right patience and discipline (as you say, sorry Mr. Market) who knows what may be possible?

Too funny. Every day is a lifetime worth of issues.

Really? Who cares what the market does in immediate reaction to some economic reports other than traders? Personally could care less other than if something I want to buy gets cheap enough to pull the trigger.

Nobody trusts the numbers. That's why they are always revised - sometimes by huge amounts. By the time final revisions come out they are forgotten history anyway. Those numbers mean nothing to me; don't affect my life, investments, or anything else. Again, no idea how some folks make it through each day pondering this stuff.

Who cares about the head of BLS? What is it about you and cults? After one plus Presidential terms, do you still not get Trump and what he is all about? If nothing else, he is consistently inconsistent, but you don't understand that it is entirely by design!

LOL, I really think you need to get out more. I don't disagree that Trump should lay off the Fed Chair but his inclinations happen to be correct.

You don't guess about what you are experiencing. Unless of course you are holed up in a dead-end remote job and your social life is tipping the Uber eats delivery guy.

People know long before the numbers are printed and the revisions are made.

Why do you think he's been pushing for lower interest rates? What is truly amazing is how much emphasis is placed on daily/weekly/monthly economic data points whereas most people who live and work are all too familiar with the state of things and could care less about what is being reported.

Nope. They can't make her talk. And there is nothing that can embarrass Trump any more than what has already been floated out there. But you're right about her - she is scum.

Yeah, what will posterity and 25 cents buy you these days?

LOL did you expect her to talk for nothing?

I know we're getting off topic here (sorry) but AI has to be properly managed and controlled. This creates inherent risks which are impossible to predict, and consequent limitations which hopefully are widely recognized. In my very narrow scope of using and observing AI I have seen it go awry and certain users who relied on it are paying a price. Today's version of AI has to be checked and verified by humans using their judgment and discretion. I hope this standard continues.

Yeah, it would be hard to beat BRK's returns when looking at stocks, let alone bonds. As an aside, the tobacco industry has in fact been a great bond substitute and should continue to be for those who don't have alternatives (personally, I've never invested in a bond and don't plan to start now). Not to jump around but a small counterpoint on AI: Aside from possibly the medical field, AI does not [yet] create or generate anything new or better than the human mind. It aids in efficiency which is clearly vital to production and profitability, but my guess is the overall end result of AI will not live up to some very lofty expectations. The scary thing of course is if AI ever did become capable of effectively overriding the human mind, we'd all be in a lot of trouble.

LOL, find me a bond with BRK's returns!

I dunno. In reading all the comments in this and other threads regarding macro-economic data points, none of it makes a hill of beans of difference to the way I invest. As private investors we have the ability to ignore much of the noise and use whatever we like to our respective advantages.

Indeed. Fairfax has more immediate upside and the trajectory for its growth should be much more consistent than BRK. But when size and liquidity matter, along with the ability to pull the trigger, there is no second to BRK.

Fair point. Yet there are multi-trillion dollar companies and surely more to come - Berkshire's investment universe is actually expanding. Of course what one chooses to invest in always depends on where you are in life. At this juncture, my number one priority is no investment that may risk overnight permanent impairment of capital (hint: BTC). With BRK, there is always a floor underneath too much selling because the company will opportunistically repurchase its own shares. And share repurchases are a minimum threshold for the company's investments. I prefer that the company continue to grow and not shrink just for the sake of needle moving investments. The optionality of a huge balance sheet will allow BRK to take advantage of those rare opportunities when they finally do come - and they will. The fact that BRK has been able to more than hold its own in recent times even with a lack of significant investments is a testament to the company's discipline, patience and staying power. Those qualities alone are good enough for me.