UK

And maybe what is also new and interesting this year, is that they are doing all those buybacks at well above 1 BV. I do not think / remember that was the case any time previously? So perhaps this would also support your idea of quality and points of cheap and fair valuation moving up. Maybe it is 1.2 and 1.6 now vs 1.0 and 1.3 previously in their view and personally I would not disagree:)

https://www.wsj.com/finance/stocks/earnings-season-to-test-investors-faith-in-big-tech-stocks-a16dc89e?mod=hp_lead_pos6

Thanks for sharing your story and portfolio. Incredible! Nothing to add:) I would also appreciate if you could share what are your expectations for a future long term returns of BRK? It is bigger than ever and its valuation also has improved recently. Sometimes I wonder what would be reasonable to expect for it for the next 10 years.

https://www.bloomberg.com/news/articles/2024-07-03/jpmorgan-s-kolanovic-to-leave-bank-after-two-challenging-years The move comes following a disastrous two-year stretch of stock-market calls by Kolanovic. He was steadfastly bullish in much of 2022 as the S&P 500 Index sank 19% and strategists across Wall Street lowered their expectations for equities. Then he turned bearish just as the market bottomed, missing last year’s 24% surge in the S&P 500 as well as the 14% gain in the first half of this year.

https://www.barrons.com/articles/hurricane-season-reinsurance-stocks-9b71ac29 From a year ago, but I like this way of thinking:)))

https://www.economist.com/finance-and-economics/2024/06/16/why-house-prices-are-surging-once-again?itm_source=parsely-api Is there any asset class left which yet did not shrugged off higher interest rates:)?

https://www.bloomberg.com/news/articles/2024-06-21/softbank-s-son-aims-to-create-super-ai-in-new-investment-drive?embedded-checkout=true But after grappling with his failures over the past year, during which his entrepreneurial father passed away, Son said he woke up with an epiphany Friday morning. “I had my answer,” Son told shareholders gathered at an annual meeting. “I made some checks, and I see my path forward.” “This is what I was born to do — to realize ASI,” Son said, without elaborating on what his next plans might be. “Watch me, I will make it happen.” SoftBank is working on a plan to deploy some $100 billion into AI-related chips in a project dubbed Izanagi, Bloomberg reported in February.

This piece is good: https://stratechery.com/2024/ai-integration-and-modularization/

https://pracap.com/the-culling/?utm_source=rss&utm_medium=rss&utm_campaign=the-culling I will admit that currently I share some exact thoughts and feelings about the investing and market with him and also have done a lot of culling recently (at the same time nothing new/big or exciting YTD). Still mostly invested (and very likely will stay this way), but moved to the defensive side of my pendulum and would like to clear/reset my mind:)

So after missing NVDA or TSM recently I was curious about and reading a lot of stuff like this: https://www.economist.com/by-invitation/2024/06/17/ray-kurzweil-on-how-ai-will-transform-the-physical-world https://www.ft.com/content/03895dc4-a3b7-481e-95cc-336a524f2ac2 But the funniest thing is, that even if I knew that such or similar predictions / fears are true (call me a skeptic, but no idea), I still would not have any firm view how one supposed to benefit from all this or at least not to be killed by this God-like AI, as investor:). Maybe just to be silly and own SNP500, which will include most possible winners and losers, as more extreme scenarious just would not matter anyway:)?

Maybe situation in the insurance market is still better than expected or could even further improve, depending on the expectations for (or results of) the upcoming hurricane season:)? El Nino, Gulf of Mexico is record hot etc.

I think that lower yielding bonds mostly are being held at insurance subsidiares and this the just the way most insurance companies operates (majority of the float will be invested in fixed income) and also is constrained by regulations. Meanwhile, at the company holding level, FFH is financed by debt and equity, which I guess is still much more expensive than the debt FFH just issued. So we can discuss how much of debt is to much or either FFH should use none at all, but I think, up to a certain / safe level, it just make sense for them to borrow at some 6 or so per cent long term in order to pursue investment opportunities at 10 ir 15 per cent returns and it seems that even FFHs own shares currently provides such opportunity. At least this is my understanding, maybe somebody can correct it, if it is wrong:)

https://www.bloomberg.com/news/articles/2024-06-17/trump-security-adviser-urges-cutting-china-ties-resuming-nuclear-weapons-tests?embedded-ch

https://www.bloomberg.com/news/articles/2022-03-23/russia-central-banker-wanted-out-over-ukraine-but-putin-said-no?embedded-checkout=true

Great post!

https://steadycompounding.com/investing/brk-2024/ Re cash and market opportunities: We will have Apple as our largest investment, but I don’t mind at all, under current conditions, building the cash position. I think when I look at the alternative of what’s available, the equity markets, and I look at the composition of what’s going on in the world, we find it quite attractive. ... But if we had 10 billion, I wouldn’t basically see many more opportunities than we found now. It’s true that something like Japan, we could have done, if the company had had a 30 or 40 billion, and we’d make. We’d have had great returns on equity. But if I saw one of those now, I’d do it for Berkshire. It isn’t like I’ve got a hunger strike or something like that going on.

AAPL holdings reduced by ~13 per cent?

Thanks!

The Security I Like Best:). Nice!

Thank you very much!

Thanks!

BRKA @ ~15.5?

Is it fair to conclude that their duration of insurance liabilities decreased quite substantially in last six years, from this info bellow?

Thanks!

Thanks!