UK

No offense taken:). I wish I also could post this epic gif of Spekuliatius about investing in China, featuring boar, but I can not find it:))

Why would you say this? I do not disagree with you or Tepper much and was just kidding:)

Interesting map in the backgroud. Not sure I recognize it or what teritory is marked by the red to the west from the yellow one (Russia?), but for his birthday I wish him to rule only in the yellow part to the east in the future:))

https://www.barrons.com/amp/articles/hurricane-milton-insurance-stocks-220b0d88

https://www.bloomberg.com/opinion/articles/2024-10-06/china-is-making-investor-calls-so-awkward

Good. Is his take on China/Taiwan available?

This is true:). But at the same time I think 2008-2009 was the last time markets and even economy was left for its own, at least for a while:). I am afraid (or should I say happy?) we now live in a newly discovered central bank put and very understanding government era and I am not sure economy and markets would be put in a very shitty toilet for long (though maybe currencies will be, one day, as a concequence). And these interventions worked, more or less, so expect this to continue. Just like in China currently, loans for buybacks, who would have thought:)? I am not sure that it means much for concentrated stockpicking, but i think it could be a mistake to wait to invest only after market prices halves or something, as likelly this has way less chances if at all to occur in the new era:). And perhaps to be not too greedy and to start buying big after smaller market drop:)

Thanks!

This I can understand:)

+1

My goal is to make money and to have a great time, rather than to be very original, contrarian or what not, so personally I do not have shame or ego problems to copy or borrow an idea from anyone, but I use this (perhaps stupid sometimes:)) extra filter: I must understand it myself and it should make sense for me in the first place. I had some expensive lessons (IBM or even small position in ZINC:)), from copying more blindly:). I used to look for a new ideas from managers I would not be very afraid to give my money to manage. They should have a good long track record, most of their personal wealth in the same portfolio and their process should make sense to me. The list is getting shorter and shorter though (not least because of the performance criteria) and these days I also find more of either good cross confirmations or even initial ideas here on COBF. Viking and FFH 2022. Parsad and META 2022 Greg and JOE 2022. And so on. Or just recently, ERF idea was brought up in this board, but I think I heard about it from Sequoia initially and also our beloved MW participated:). Or I think Greg first wrote about RTO recently, while Peltz, whom I follow from the old days, was already on board. I also know a few good investors personally and I am ready to dig for their next big idea at any time. But I think everyone should find what works for him and what he is comfortable with.

This chart is from here: https://am.jpmorgan.com/us/en/asset-management/adv/insights/market-insights/guide-to-the-markets/ I agree forward PE is tricky, but it is somewhat normalized and I personally consider it an optimistic / can not get better view as of today. Though perhaps there are times when forward looking estimates later turn out to be to pessimistic. I am not sure this chart says very much about the markets future, perhaps more so about the level of the long term returns one could expect from current levels and at what level we are flying currently in case something big and unexpected happens, but in no way I see this as some kind of a timing tool, especially for the near term.

to: brett.horn@morningstar.com cc: OfficeQuestions@morningstar.com For your feedback and thank you letters. Please be polite as much as possible:)

I do not think he touted 3G, I think he was very skeptical and tried to say this in a witty way:)