73 Reds

Reading this thread is like being in an echo chamber. Don't you all get tired of reposting the same worn out criticisms over and over? To what end? Have to believe that any COBF member already knows how each of you feel. Do you find this productive?

Nice, I like the way you think. With financials, can't help to think the two namesakes of this Board offer plenty of exposure without 100% direct correlation to cyclical downturns. The worse things get, all the better for these two. But RE will always be my bread and butter - local, targeted, direct and hands on (well, mostly just delegate these days because they do a better job than me). In that general realm M is starting to look interesting. And some more JOE at lower prices.

Me too, John. Still like the same investments I owned last year, last month and last week. Adding to my own private interests because they are much easier to control and if someone makes boneheaded decisions it is the man in the mirror and no one else to blame. Prices of public equities of interest are still not tempting.

John, I agree it is wise to retain some liquidity but have the investments you intend to buy changed as the result of anything tariff-related?

John, have your investments changed as the result of your newfound thinking? If so, how?

@FLY TY. Ignorance is bliss.

@flesh Thanks. Who is grok3?

That's better. No need to cancel my COBF membership.

Berkshire or an equivalent? Blasphemy!!!

Ah, a pragmatist. So rare around here lately.

So you see victory ahead?

Maybe. The point is, take this opportunity to learn about yourself. If your results were subpar until now and you don't have any liquidity now, something probably needs to change. Everyone makes mistakes; learning from them and not repeating them goes a long way.

Good advice. Buffett/Munger suggest that if you are not prepared for a 50% drawdown every so often you shouldn't be in stocks. My own suggestion: Don't change anything that works for you.

Classic Trump. Opening salvo. Even for Trump haters, how is it that anyone can believe that we're done and moving on.

Nah, same guy, same aspirations. The beauty of what we created is he can't go too far even if that is his intent. The pendulum doesn't allow for it. Thanks to social media, 24/7 non-news and a lot of conspiracy theorists reality sometimes takes time to set in. How often are initial reactions (to nearly everything) completely wrong? Or only right for as long as it takes to take a bow. Put in proper perspective, this is far less threatening than pandemics, military conflicts or even typical economic woes that happen because of extended periods of speculation, overindulgence, or bad monetary policy. The US has far greater issues to be concerned with, starting with a lost 10+ years of college grads that have been so greatly indoctrinated into counterproductive thinking that I wouldn't hire any of them unless they demonstrate an ability to overcome having been brainwashed.

I don't predict, just hope. My hope is we become a safer, stronger, more merit based society. We stay out of endless conflicts that we won't and can't resolve. We spend tax dollars much more wisely. We retain the moral values that got us here. In.a nutshell, these are the issues I voted on. The economy was nowhere near the top of my priority list but vilifying those who achieve success with the threat of higher taxes without regard to how the funds are allocated is bad policy.

@Buckeye I'm no more of an expert than you but I did vote for most (not all) of his polices and hope that expectations for these policies play out.

Right. It's clearly a concern for condo owners and BODs, particularly older buildings on the water. But the goal isn't to bankrupt anyone, create empty buildings to rot, or wreak havoc on entire communities. A balanced approach which will protect the integrity of such buildings will ultimately prevail. Not that it still won't hurt many folks; the solution is always far from perfect while striving to balance cost with safety.

Of course not. But is Emily acting on an immediate scenario or one she just thinks might happen? Planning ahead is always prudent but expecting the worst rarely plays out as expected and in hindsight acting too soon on such concerns is often a costly mistake.

The leftist playbook is now law fare. Forum shopping is their best strategy. Sadly, with all the antagonism they offer nothing of substance to the status quo other than "fight Trump". Is there any wonder why Trump receives so much support?

If memory serves, Trump had a first term. Might have to check with some sources but we survived and prospered.

@RedLion I dunno, if we limit the charitable deduction at death, wealthy folks will figure out other ways to avoid paying estate taxes. At least with the unlimited charitable deduction, large sums go to (what we hope are) charitable causes. It is interesting, there are other issues with charitable gifting, namely whether those entities that qualify for the charitable deduction are truly charitable and just how much influence and/or other benefits flow back to donors and their own interests. This issue was addressed in the 2024 Book "Warren and Bill - Gates, Buffet and The Friendship that Changed the World" by Anthony McCarten (though I found the book somewhat disappointing).

@Cigarbutt Thanks. Looking more and more like Berkshire with more prospects all the time.

Another good reason to own Berkshire.

Viking, if stocks go a lot further south, how much room does Fairfax have to reallocate some of its fixed income proceeds/profits into equities?