John Hjorth

From : www.icanw.org :

New post on X about Russian gas supply to Austria by Anton Gerashchenko - I really can't help it here - it actually reads to me as an awesome user manual! :

I would like personally to add to your list : The Delusions of Crowds - Why People Go Mad in Groups - Willikam J. Bernstein. Really understanding the concept in the book likely requires you - to stay rational while reading the book! There is nothing like 'getting in' at a wrong price! It by doing so fucks up your brain, creating a virtual reality, likely telling you : 'This is not the 'real' reality, somewhere, there excist a [copt] really real reaity for me, provided by you, and when yo ask for it at your investment bank, the answer is always : 'No', based on personal discretion.' Banks are just so f**king earnings advancements creatures! - Never gong to rely on anthing!

New YouTube video by Anders Puck Nielsen about 'the digital war' [I'm not sure I understand any of its basics, nor its contents,-so, let it hereby be up to you, to judge and decide] - Please be aware: This is [to me] personally severely biased towards / against X - please make up your own personal mind about it, and take care!: Anders Puck Nielsen [November 17th 2024] : Twitter and responsible social media.

Charlie [ @dealraker ], What is it really, you're attempting / trying to provide to 'anti-sell' [Yes, you're a 'seller' of sentiment here on CoBF]? - And to who here on CoBF? - This topic is about the book by Jim Collins 'Good to great', not what you feel inclined to talk about in this topic by actual and present sentiment! - in any sector. -The book is about a proposal for a mental framework, which everyone here on CoBF personally can ditch totally, or try to apply, to various degrees, based on personal will and determination. The choice and discretion is fully at the reader! I'm not going to spend time furnishing your request with digging up anyones 'super investment performance'. [Please give me a break here.] It's not that complicated. - This is also why we have a 'Books' category available for us all here on CoBF : Try to share what you're reading, to the best of us all, based on personal personal experience, by studying and reading. With no strings attached to sharing.

Thank you for the flowers, Brett [ @Brett], I'm one of those 'Berkaholics' around here at CoBF, who really enjoys new stuff about Berkshire! This book is, to me personally, exceptional, as expressed above. What you also have alluded to in the above mentioned Redeye podcast episode, is that the verbal presentations of 'the good old days' as it was 'a game of shooting fish in a barrel', perhaps mostly here alluding to statements by late Mr. Munger [may he rest in peace], buying net-nets [also] 'back then' wasen't without challenges and problems at all. PS: Thank you for sharing all that great Buffett / Berkshire related stuff, you have shared in your LinkedIn feed recently, due to all your work related to the book, that eventually ended up about not to meet your criteria to get included in the book, for the reasons explained by you in the book! [For my fellow CoBF members : Link ]

Thank you, @Gamecock-YT, Related to Brookfield, or Apollo? [No matter who of them, or both, an awesome client to have and nurse in the stable].

@Xerxes, Yes, promotional salesmen they are, or have become. I'm thinking we observe them as DIY investors, -if we're good, or old, or both, with 1+ million in the nest egg. Their game is with multiples of billions, obviously growing fast by now, with basically [give or take], none the money their own. In this 'Wealth Solutions' business - with a margin, small and about fixed - everything earnings related, turns into talk and disccussions about volumes [Race to the bottom?] So is the dissemination of all those promotional interviews for us? I speculate : 'Not only for us', also 'for clients, or especially potential clients', to kick in new doors. That may also be why we consider them extremely repetitive over time [All promotional activity possess this property.] - - - o 0 o - - - To me, Mr. Watsa is running a totally different game - much more skin in it. - - - o 0 o - - - The fact is also, that you bump into promotional sales people wherever you go, whereever you are, or whatever you do, and you are - more or less - under influence of them constantly in life.

@Gamecock-YT, I'm personally not sure what you're alluding to here. Pardon my ignorance, and thank you in advance for your elaboration.

Charlie [ @dealraker ], I'm not sure I understand the point of your post above here related to the book. Is it about Jim Collins being promotional? Or is about about doubt about if the content of the book can be used as a basis for evolving a personal investment framework? Or something else? Edit : Isen't your personal awesome long term track record principally about this? :

I ordered and read this book in September 2023, based on Lars [ @Viking ] mentioning Jim Collins' authorship in a topic in CoBFs section for Fairfax Financial Holdings related to considerations about the quality of the company from an investment perspective. The book is based on empirical studies of a row [28] of exeptional successful listed companies for a long term period - study work in progress period of 5 years says a lot about the extent of the work underlying the book - performed not by one person, but a research team - up to the year of the release of the book - 2001, with also a stab taken on reverse engineering the causes for the exceptional success of these companies, by The really mindblowing and striking exercise is then - after reading the book - to take that particular list of companies and to try see 'where' those companies are today, - now 20+, almost 25 years later - and also to try to figure out why! The subtitle to the book is : 'Why Some Companies Make the Leap... and Others Don't'. From Chapter 1, - called ' Good is the enemy of great' -, the start, - here meant as a teaser :

This is 'great' : Reuters [ November 15th 2024] : Putin tells Scholz that Russia is willing to look at energy cooperation, Kremlin says. Agreement among [just] 'businessmen', to obtain 'sustainability' among trading partners? German T2 tanks [very successful] at work in Ukraine to destroy Russian forces and gear by now? - Please give me a break! - Those who are in need of energy to survive and to get on the other side of the coming winther is Ukraine, - not Germany!

@Luke, Who are 'we' in the above post by you?

Again a new topic, embracing a whole sector, [, or you may call it an industry], as a placeholder for posts related to the sector, not individual names [tickers]. I'll along the way adjust the topic title, if it becomes prone for adjustment, ref. below about 'change'. Just for starters here, here an interview podcast with Marc Rowan, CEO of Apollo Global Management, already posted and commented on today in the APO topic in the Investment Ideas forum here on CoBF, which I think actually provides a true and fair view of the sector by now, from the perspective of an insider and sector participant & competitor : Norges Bank Investment Management - Nicolai Tangen - In good company [November 13th 2024] : Marc Rowan - CEO of Apollo | Podcast | In Good Company | Norges Bank Investment Management. - - - o 0 o - - - One thing that really strikes me here, is how things continue very fast to evolve, constantly and eternally changing over time, while the whole sector is growing pretty fast. Has this something to do with the last 'violent', 'volatile' - now almost - four years? The striking part to me here is Marc Rowan has actually been what I would dub 'press shy' for years [In the above interview he is mentioning it himself], while i.e. Mr. Flatt at [Canadian] Brookfield has been very 'outbound oriented', extrovert and promotional in a similar period.

New podcast episode about the book : Redeye - Nordic Growth - Investing by the Books [November 12th 2024] : Investing by the Books #64 Brett Gardner: Buffett’s Early Investments.