longlake95
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Posts posted by longlake95
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Agreed. I think the biggest lesson for me the last 20 years, has been to constantly re-assess if your thesis has under-shot or over-shot as the fundamentals play out over time. If you’ve under-shot like I did with HPS.a, where the business has blossomed mightly ahead of my thesis, JUST SIT ON YOURS HANDS. Continually re-assess. Easy to say, hard to do. But sure is fun.
Confirmation bias can really kill your returns.
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Ya, it’s been quite the ride. Bought in 2020. Trying to water the flowers and pull the weeds here - letting winners run. Sitting on my hands, mostly, very interested to hear their commentary on current business conditions and the backlog. I think they earn +$6 this year.
LL
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trimmed a little HPS.a
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I've owned BRK for just over 2 decades. Yes, it's been a fine performer. Sure, it hasn't shot the lights out - but neither did MSFT from 2000 to 2010. You had to time it just right to benefit from the massive tech run - who knew? Not my game. BRK is like an equity-bond that yields 10%, with very little risk. Additionally, you get an upside kicker, when the market goes to hell in a hand basket, you lose less, and stand to make much more as they deploy capital during the storm(s). I sleep well owning BRK. I don't think every S&P 500 ETF holder can say the same.
Certified fan-boy.
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Great letter. What a shot across the bow, warning that we’d (the politicians and the masses) better figure this electric/energy grid situation. If you can’t incentivize private business (and individuals, buying energy bonds) to put the huge sums required, how in the world does government do it-effectively. They don’t. I have zero faith the politicians will get it right. Standby for much higher power rates ahead.
really liked the write up on the Japanese trading houses.
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3 minutes ago, ICUMD said:
NSE is a great asset no doubt.
OTOH, they need to be able to raise cash for acquisitions. This can only happen through churning non core assets. Otherwise they have to use credit.
25M to 189M is a great capital gains.
Sell it and move on hopefully to something better!
Prem has said publicly several times about deploying $5B in India in the next several years. With a notoriously bureaucratic government in India, maybe this sale is a "goodwill gesture" to show engagement. Allowing for bigger and better opportunities looking ahead. We'll see...
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2 minutes ago, giulio said:
I was a bit disappointed honestly. A part of me wished that they could hold on to it for a very long time.
Anyone here share the sentiment?
Do you think they will treat the airport differently?
I'm in the same camp. Just OWN the hard-to-come-by assets, basically forever. Munger's "sit on your ass" philosophy. But, maybe there's more to the story....
Maybe a worthy question for Prem & Co at the FIH AGM...
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Nope,
maybe that’s why it’s at 3x earnings.
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Probably should selling HPS.a
moving like a sloth.
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I love my 1750 sq. Ft.
go smaller and make it custom. Way more enjoyable.
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The printed version is priceless. The ease of "flipping" through 1500 companies continuously, until something catches your attention is very effective. I get a tonne of value out of this document.
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4 hours ago, 50centdollars said:
what are your thoughts on this? I'm not sure what to make of this circus.
https://thecobf.com/forum/topic/5569-gil-gildan-activewear-inc/page/5/#comment-544625
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Thanks Sanjeev
Merry Christmas to you and yours as well.
You are very right, many have had a rough couple of years. COBF's pay forward some of that tax advantaged divvy income, to those who need a helping hand.
All the best to everyone for 2024.
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5 hours ago, Parsad said:
https://finance.yahoo.com/news/macys-mulling-58-billion-buyout-offer-source-230606275.html
Tomorrow morning, I'm going to make on Macy's in the last six months, as much as I've made on META in the last year and FFH in the last three years! I believe Castanza will be quite happy too!
Cheers!
Well done Ladds.
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1 hour ago, Jaygo said:
Bravo Rosie. Except on economist productivity readings.
Canada's economy will never have the productivity rates of the USA and comparing the two is stupid. Canadian people as in individuals are most likely equally or even more productive simply because we are less obese (sorry)
But for our economy as a whole the numbers will show less productivity. It is nearly impossible for the whole place to freeze over and remain in static productivity vs our friends to the south where half their landmass remains relatively unscathed by cold.
On the rest of his ramblings id have to agree, the economy is hurting because interest payments and the prospective of higher payments is taking a lot of juice out of consumers. Lets not forget that the long depression of 1873 ( railroads, excessive immigration and real estate) and great depression (stocks and real estate) were caused by a debt fuelled asset booms and subsequent government intervention causing bust. Ouch
Id wager that our dollar will crater to the lowest valuation ever in the next couple of years and canada will be the best place for Americans to invest without a doubt for the second half of the 20's, it probably already is but there will be bumps a plenty. If i was an American I would be studying the top 20 or 30 names to be prepared for a bargain basket. ill toss some names for those interested.
There are lots of high quality midcap names that are very dynamic. The Kitchener, Cambridge, Waterloo area of the GTA and Ottawa to Montreal corridor is nurturing some incredible small companies especially in the smart industrial space and tech.
The bond proxies like banks, utes and telcos are all very good as well due to the oligopolies that exist but since the dividends make up a lot of the total return and is not tax efficient for Americans they are probably less favorable.
Equitable bank
BRP
Richelieu
GFL
Opentext, CGI, CSU
Linemar, magna, ATS
Smartcentres, Granite Reit, MEQ, MRG
Thomson Reuters
BN and colliers
Terravest, Exchange income corp,
transforce,
Gildan Activewear
Wajax and toromont
There are many others but these are all pretty reliable and could be spectacular if we have a stock slump combined with currency appreciation.
I think you’re on to something. Or it’s my confirmation bias coming through…
Nice list, I own 4 of those…
I’d add SJ and the Canadian rails to the list. Even Couche Tard.
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3 minutes ago, Munger_Disciple said:
Assuming he is referring to money weighted returns, that was exactly what Charlie was advocating US Congress to do. He said even Liz Warren & Bernie Sanders can agree with his suggestion.He is also saying that you should adjust for absolute dollars. When you are managing a 'piddly' 100K and return 10% you created 10K. The same 10% return on 1000K is 100K. Same return bigger absolute dollar creation.
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of course, Sir Charlie is not wrong. The financial industry here in Canada, was legislated to provide investors with money-weighted returns (MWR), not just time-weighted returns (TWR). Because money weight returns are more realistic, since most if not all investors have cashflows into and out of a portfolio.
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10 minutes ago, Luca said:
Conviction
well, it's a 12 ish percent holding. Trying to lean in here...
Buffett/Berkshire - general news
in Berkshire Hathaway
Posted
+1