LC

https://www.newyorker.com/magazine/2017/12/18/jim-simons-the-numbers-king

OK but are you an analyst by profession? If not, why do you care? Here's a question: how do you define "competence"? Does it mean to have a conversation with the CEO and talk on par? What defined it

I am just saying 20 seems a reasonable PE (compared to S&P500's current pe) Ah ok I misunderstood you. I generally agree- I don't know if 20 is the right multiple but I think in today's environment that 9.5x is probably too low

Why would you apply UNP's multiple to the entirety of Berkshire's operating earnings? My guess it that UNP's multiple would only be applicable to BNSF's operating earnings.

Tough question: my circles of competence (confidence?) are mostly in areas I have worked in, or have a passion for. I don't think I can gain competence just by studying an industry or business from the outside looking in.

Examine.com is a good resource. You can search a compound and it provides a table which summarizes various studies and their conclusions.

SYAC (saved you a click): they mention Jain or Abel.

I also use rocketfinancial. Whoever made that website deserves a beer.

https://www.theverge.com/2017/11/29/16717416/us-coinbase-irs-records

Fair enough ;D

Do you have any idea if what the Panama paper whistleblower did was illegal or not? I'm no expert in Panamanian law, but it sounds a bit presumptive to blindly accuse someone of theft.

Unrelated, there's some good stuff published with Buffett as an author: https://fraser.stlouisfed.org/author/5564 Here are all the CFC articles archived, you can dig thru these: https://fraser.stlouisfed.org/title/1339

I admittedly know little (nothing?) about blockchain technology. Was a tongue-in-cheek comment ;)

There is no reason a government couldn't issue money on a blockchain. But you know they would never relinquish control over it. It wouldn't be a mined public blockchain, it would be a private blockchain running on government servers. They would have complete control and could issue new units at will just as they do now only they would have perfect record keeping over who owns what and where they got it from. It's the IRS's dream come true. Man I really hope this happens. No more panama/paradise papers!

I exported my various portfolios to csv files. The old google finance is still working on my desktop (but not mobile). When they finally kill it, I'll probably create google sheets which auto-update, unless I can find a good online replacement.

Not a single one. ::) Which, coincidentally, is the same number of anarchists I've met who have started an anarch-state ;D I haven't read the book...but I agree with rk on this one. I'm not sure what there is to gain from reading a psycho-analysis of Trump.

I usually go with Alton brown or Serious Eats. Here's serious eats' take on mashed sweet potatoes: http://www.seriouseats.com/recipes/2014/11/the-best-mashed-sweet-potatoes-recipe.html

I love cooking - Good Eats is a great program that shows a bit of science and a lot of technique. There's an awesome fan/reference website as well: http://www.goodeatsfanpage.com/gefp/index-topic.htm As Jacques Pepin says, "Happy Cooking!"

And for those who would rather a wet brine, I'm partial to Alton Brown's method of brining: And I've been cooking the bird this way for years:

Happy Thanksgiving!

How do you feel about the non-inflationary characteristics of bitcoin in an environment with very low inflation? The US hasn't seen much inflation in the past 5 years. What if that persists?

http://www.shadowstats.com/alternate_data/inflation-charts http://www.shadowstats.com/alternate_data/unemployment-charts

Debt is mainly due to financing the Produquimica acquisition. Recent lower than normal returns are mostly due to warm winters.

Just had a glance out of curiosity. Are you not worried by the debt-to-EBITDA levels? SI made a good post on the debt here: http://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/cmp-compass-minerals-international/msg302112/#msg302112 Just to add a quick caveat: it's definitely a concern and something to monitor. the salt business is pretty stable so it provides some downside protection if the brazil business does not pan out as expected. the next few qs will be illuminating.

bought a little more compass minerals