John Hjorth

Luca [ @Luca ], You definitely need to open a new topic in the COBF Books forum about this book.

Yeah, the concept 'company limited liability' is indeed a complicated legal matter. The legal basis is the legal form for the actual legal entity in mention, and what may furthermore be stated in the articles of association and bylaws of the legal entity. Also, some creditors may be capped one way or an other, [i.e. 'non recource' certain pledged asset[s]]. If a creditor may want to excercise some kind of economic responsibility for the obligations of the legal entity against the legal entitys owners, the creditor has to establish a causuality between the creditors receivable and the owners responsibity and actual actions. This isen't - in general - trivial by any means.

Bloomberg - Politics [April 26th 2024] : Sweden Ramps Up Defense Spending Goal to 2.6%, Past NATO Target, & Bloomberg - Politics [April 24th 2024] : Global Military Spending Tops $2 Trillion for First Time as Europe Boosts Defenses.[1] - - - o 0 o - - - Something is actually happening and going on, Mike [ @cubsfan ] et. al. As with everything related to Politics, things take time, and is subject to a lot of inertia. - Personally, I'm feeling confident, the general European sentiment about actual political support for the war of Ukraine against Russia now gradually is changing from 'empty / hollow' talk to real action. Btw : How is it even possible to talk while [dam'n] thumb sucking?! _______ [1] I have today without luck tried to verify the data in the article on the NATO webpage.

Yeah, The US justice system in operation and at its finest. Something to think about here.

Market shares1 of banks and covered bond mortgage companies in Norway at 31 December 2022. Percent : Tabell 6 Banker og OMF-kredittforetaks markedsandeler1 i Norge. Prosent. Per 31. desember 2022 Innhold Table 6 Market shares1 of banks and covered bond mortgage companies in Norway at 31 December 2022. Percent Index Brutto utlån til Innskudd fra Personmarkedet9 Næringsmarkedet10 Personmarkedet9 Næringsmarkedet10 Gross lending to Deposits from Retail market9 Corporate market10 Retail market9 Corporate market10 DNB Bank2 DNB Bank2 28 30 32 37 Nordea3 Nordea3 11 13 7 12 Filialer av utenlandske banker i Norge4 (ekskl. Nordea) Branches of foreign banks in Norway4 (excluding Nordea) 10 19 6 19 SpareBank 1-alliansen5 SpareBank 1 Alliance5 22 18 21 16 Eika Alliansen6 Eika Alliance6 9 4 10 5 Øvrige sparebanker7 Other savings banks7 14 10 14 9 Øvrige forretningsbanker8 Other commercial banks8 6 5 9 2 Sum Total 100 100 100 100 Totalmarked (i milliarder kroner) Total (NOK bn) 3.426 1.864 1.534 1.050 1 Markedsandelene er beregnet ved å summere selskapsregnskapene til selskapene som inngår i de ulike gruppene. 1 The market shares are calculated by summing the balance sheet items for the institutions in the different groups. 2 DNB Bank, DNB Boligkreditt, Sbanken og Sbanken Boligkreditt. 2 DNB Bank and DNB Boligkreditt, Sbanken and Sbanken Boligkreditt 3 Nordea Bank AB (Publ), filial i Norge og Nordea Eiendomskreditt. 3. Nordea Bank AB (Publ), branch in Norway and Nordea Eiendomskreditt. 4 Danske Bank, Handelsbanken, Handelsbanken Eiendomskreditt + 9 andre filialer. 4. Danske Bank, Handelsbanken, Handelsbanken Eiendomskreditt and nine other branches. 5 SpareBank 1 SR-Bank, SpareBank 1 SMN, SpareBank 1 Østlandet, SpareBank 1 Nord-Norge + de 9 andre sparebankene i SpareBank 1-alliansen, BN Bank, SP1 Boligkreditt og SP1 Næringskreditt + 2 andre boligkredittforetak. 5. SpareBank 1 SR-Bank, SpareBank 1 SMN, SpareBank 1 Østlandet, SpareBank 1 Nord-Norge, the other nine savings banks in the Sparebank 1 Alliance, BN Bank, SP1 Boligkreditt, SP1 næringskreditt and two other residential mortgage lenders. 6 Ifølge Eika Gruppens årsrapport for 2022 består Eika Alliansen av 51 selvstendige banker, Eika Gruppen og Eika Boligkreditt. I tillegg til de 51 bankene har vi med Eika Kredittbank i stedet for bankens morselskap Eika Gruppen. I tillegg til Eika Boligkreditt har vi med SSB Boligkreditt og Totens Sparebank Boligkreditt. 6. According to Eika Gruppen's annual report 2022 the Eika Alliance comprise 51 independent banks, Eika Gruppen and Eika Boligkreditt. In addition to the 51 banks, we include Eika Kredittbank in stead of its parent company Eika Gruppen. In addition to Eika Boligkreditt we include SSB Boligkreditt and Totens Sparebank Boligkreditt. 7 Sparebanken Vest, Sparebanken Vest Boligkreditt, Sparebanken Sør, Sparebanken Møre og Sparebanken Sogn og Fjordane + 22 andre sparebanker og 6 boligkredittforetak, 1 kredittforetak og 1 hybrid boligkredittforetak. 7. Sparebanken Vest, Sparebanken Vest Boligkreditt, Sparebanken Sør, Sparebanken Møre, Sparebanken Sogn og Fjordane, 22 other savings banks, six residential mortgage lenders, one mortgage lender and one hybrid mortgage company. 8 Santander Consumer Bank AS, Eksportfinans, Storebrand Bank og Landkreditt Bank + 22 andre forretningsbanker og 4 boligkredittforetak + Kommunalbanken og 1 kommunekredittforetak. 8. Santander Consumer Bank AS, Eksportfinans, Storebrand Bank, Landkreditt Bank, 22 other commercial banks, four residential mortgage lenders, Kommunalbanken and one municipal mortgage lender. 9 Personmarkedet omfatter lønnstakere, pensjonister, trygdede og studenter. 9. The retail market comprises wage earners, pensioners, benefit recipients and students. 10 Næringsmarkedet omfatter i hovedsak ikke-finansielle private foretak og personlig næringsdrivende. 10 The corporate market primarily comprises non-financial private enterprises and the self-employed. Kilde: Norges Bank Source: Norges Bank - - - o 0 o - - - Source : Norges Bank - Banking Statistics [May 10th 2023][the on the website attached Excel file attached to this post, - Please see table 6 in the file. banking-statistics-per-31-12-2022v2.xlsx

Thanks, @Dinar, I actually became a bit surprised by your your reply above [ ], but after reading it twice it became clear to me, that this information actually is great information as an entry point for looking at these things. I don't actually really know why I haven't ever been taking a close look at Norwegian banking as such. There can't be any doubt about that Norwegian banking much be somewhat special on the downside [in a good way, that is] compared to most of the rest of the Nordics, Scandinavia and Europe, because of the national wealth related to the national oil and gas related savings accumulated in Government Pension Fund Global, which is designed to work as a massive, giant shock absorber in the case of adverse macro events. I have never thought about Norwegian banking as such in that light and from that perspective. I'll post and share my findings here in this topic as I move forward looking at it.

Hi @Dinar, Your post above reads as if it perhaps the outcome / conclusion from some kind of screening. Could you please mention one or a few names with tickers?

Started with small positions today in : FABG.STO [Fabege AB, Stockholm, Sweden], & WIHL.STO [Wihlborgs Fastigheter AB, Malmö, Sweden].

Bloomberg - Politics [24th April 2024] : Russia Threatens to Increase Strikes on Ukraine Over US Aid. Just the usual Mainstream Media bull shit, - here, from Bloomberg.

It appears that Mr. Ridley - beside this book - has an extensive authorship attached to his name, that appears attractive, -at least for me, personally. So, thank you for directional guidance here James [ @james22 ] .

Started with small positions today in : HUFV A.STO [Hufvudstaden AB, ser. A, Stockholm, Sweden], ENTRA.OS [ENTRA AS, Oslo, Norway], & WALL B.STO [Wallenstam AB, ser. B, Göteborg, Sweden].

Yeah, naturally I was just kidding, @RedLion, . The fact is [at least I personally consider it a fact] that what you have hoarded, processed and taken in while practicing stock picking, noone can take away from you. You have become a much more - and better informed - a much more knowledgeable person and citizen in a wide range of aspects. Such side effect can't be said to be attached to the majority of hobbies, I think. - - - o 0 o - - - -Now back to topic!

I have read somewhere that this should be an extremely unhealthy component in the diet for red lions. However, I can't find it right now though.

Absolutely awesome. It do not exactly harm anything either, that she is a piece of eye candy.

From what I have read about the recent war sitution and the support package is this giant war support package to Ukranie from USA is not going trigger any European ally to losen up with similar support activity that we have just seen from USA, -at the contrary, likely instead it is and works as stimulation and motivation of the war support at USAs European war allies. Personally I think that what i.e. Mike [ @cubsfan ] has written earlier above in this topic about the overall and present European sentiment and political situation related to the war is quite precise.

Yeah, @Spekulatius, Add to that the German decisions to abolish German nuclear energy before the nuclear power plants EOL, by now amplifying the issues, those decisions in this regard in clear retrospect have turned out to be nothing less than dreadful and very costly, leaving German former energy giants such as E.ON and RWE behind almost as zombie companies laying around in rubbles. CoBF topic : The Direction for Future European Energy : Eurelectric : Statement.

Let's hope for a more - over time - reliable, consistent and smooth support to Ukraine going forward from those nations and institutions, who support Ukraine under its warfare against Russia.

What a disaster. Pretty much everyone in charge of staying cool and to think twice based on reason, and that have that obligation to their own citizens, have lost about all natural sense and reason. What a disgraceful chapter in the history of human mankind. It's soo embarrassing.

Yeah, it will certainly be exciting and interesting to see, what he has been up to, over time.

@yesman182, Yeah. As if Mr. Buffett did not already have access to lot of cash and cash equivalents.

Greg [ @Gregmal ], Are you above here [as quoted above] referring to the military industrial complex?, or what else?

@AzCactus, Great to read that my comments above were of quite limited relevance and utility to you, simply because you already were aware of these dimensions of the whole situation related to yourself.

So what are we speculating? Isen't he just buying more 'Sogo Sosha'?

@AzCactus, Have you considered the legal aspects of you are comtemplating to do - with regard to your personal liability? The situation with regard to making changes can't be trivial, also taking into consideration an asset base of USD 600 K, which can't be considered a trivial amount of money. I mean, the combination of issues with personal stage 6 dementia at the person, combined with personal issues between the person and that persons off-spring isen't exactly a catalyst nor an incentive for doing anything, or changing anything, because of the possibility being held personally liable if something you decide and initiate turns out to a bad outcome. What is your existing mandate with your grandma, and what is the agreement basis with the direct decendants - if any, by now? - - - o 0 o - - - I have personally been in a similar situation with my dad [now passed away, so late dad] back in the end of 2013 / early 2014. It ended up working out quite well, but certainly not as originally planned and foreseen, with some very unpleasant experiences for me as the outcome of that as result, and this was not even related to the return of the investments - no, my original assumptions about who would inherit my father did hold up in the end, because my father outlived two of his four sons [I haven't tried to calculate the a prori probability of that ocurring, but it's very, very low]. I had a clear written investment mandate from my father [power of attorney with the involving banks], and an oral agrement with my father and eldest brother always to inform and consult my eldest brother in material matters, materiality judged by discretion and some leeway.

I just ordered this book today, based on the mention of it today by Vinod [ @vinod1 ] in the discussion of the recent success and run-up of Fairfax Financial Holdings. [ Link to Vinods [ @vinod1s ] post.] Reading the posts in this topic made me order the book. Thank you and H/T to Vinod for giving the direction to me here today. - - - o 0 o - - - The spring is here in Denmark now, we have left the dark period and the time for doing other stuff than reading and being indoor generally is gradually coming to an end - But, - as always : Never go down on unread books!