UK

+1

+1

This is ERICOPOLLY level stuff, I am afraid I would sleep like the baby from that joke, with such diversification:)

LOL, lets adapt this meaningless thing for a COBF diversification definition:))

Yay, META de ja vu for me re NOVO:)

Yea, I do not disagree with you:). I feel this way with mine 'basket' positions and either they have to grow up to something biger, or afer some time I just clean them, sometimes everything, especially if can not have a full attention to my portfolio.

Well, this is interesting take

This is really personal, and one has to find what he is confortable to sleep well with. But for me perhaps >10 would be too much. I can manage to go up to 6-8 (7 is actually also has some theorethical reasoning), but in fact usually stay even <6. I also maintain "one" position up to 20 per cent for lower conviction, more speculative bets (could be 5 to 20 names). I think 6+ is more than enough for a diversification. Historically for me concentration grew up with time, experience and AUM. I am quite sure this is a way to improve you results because of the focus and necessity to know more what you are doing. Few times I also went as far as 50+ in one position, but at this time I try not to do this as much as possible:)

While I am not a president and think this is not acceptable in normal environment, rarely, usually while driving, it happens to me also:)))

Somebody earlier proposed to invest into big pharma because of this, but I am not sure it will not be this "Buffett elevator" thing longer time for them, of course positive in this case, but perhaps to be competed out longer term?

I try very hard not to give any direct advices to others on how to live their lifes:), but I kind of can relate a bit to all this myself and used to think about these things much more, when was younger (there is another word for this). If you want to invest succesfully, the faster you direct your energy from macro to micro, the better. Do not waste too much time on macro, if you still want to do this e.g. for entertainment or general curiosity, try to separate it in your head from investing decisions. Kind of you do not stop your daily routines or living in general, or spend your all time in bunker, just because something bad can happen (and ocationally it will)?

WB many times has said that Geico would be his no 1 business, but I also think this is becoming a valid question/risk for autoinsurers.

Going after sovereign countries is one thing:), but messing with FED independance...here I think he is out of the line and wrong! After such a year for USD already, this stuff really scares me.

Yes! Is there even a one bad movie with Di Caprio:)?

Thanks for sharing!

Yea, and I already posted this, but I literally stole this line from him: https://www.reuters.com/article/business/trump-not-wrong-on-everything-berkshires-munger-idUSKBN15U2OT/ Getting mellow on something/body you have to live with is not a bad advise either:)

Lithuanian idiom: "Šuo ir kariamas pripranta" - A dog also adapts to being hanged. Meaning: You can get used to anything.

Personally it is hard for me to stand his narcissism etc. But I think what he does, he is not wrong on everything. The environment also was ripe for something like this to happen, he just used this. I take this as a cognitive dissonance. But most importantly, please keep COBF running, I super easilly can promise to not write any word in the political thread anymore, if this would help:)

Now this is what you call nuclear option:(

Cool:))

https://archive.is/pAYCA THE PACE of change is breath-taking. On January 3rd United States special forces captured Nicolás Maduro, Venezuela’s dictator. On January 6th Donald Trump said Venezuela would be “turning over” 30m to 50m barrels of oil to the United States. Two days later the regime said it would release “a significant number” of political prisoners. The next day an American delegation arrived in Caracas, the capital, to work on reopening the embassy. A Venezuelan team is expected to head to Washington, with Mr Trump saying he would meet them “pretty soon”. A crucial question is whether Mr Trump will “run” Venezuela down the barrel of a gun—he initially threatened interim president Delcy Rodríguez with a fate worse than Mr Maduro’s if she didn’t comply with his plans for the country—or whether he might be more collaborative. The latter may signal an intention to let Ms Rodríguez settle in for a longer period, an alarming prospect for Venezuela’s democratic opposition. Setting aside the bluster there is clear evidence, especially from the emerging deal on oil, of collaboration.

Yea, but if you was refering to the EBITDA multiple, then wouldnt you also need to include debt, with total EV being ~2 B, which would lead to ~10x EV/Ebitda in ECVT case?