John Hjorth

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!

Yeah, listening to Jack Manley is the way to go! <*cough-cough* <out of sarcasm>> Disclosure : That said, quite content JPM shareholder during now quite some years.

Jack Manley . Why is Jack Manleys opnion important here?

Bloomberg - Markets [April 16th 2024] : Fire Engulfs Copenhagen Landmark Old Stock Exchange Building. This is an event for Denmark and Cpenhagen comparable to what happened in Paris to Notre Dame now five years ago. The old stock Exchange building is about 400 years old and is a landmark building in Copenhagen. The building was under renovation, and it has functioned and served as the HQ and premises for Dansk Erhverv [translates from Danish to English to "Danish Chamber of Commerce", which is a quite powerfull Danish network for companies within Retail, Service, IT, Transport, Tourism and Health industries in Denmark. It is one of the largest business organizations in Denmark with more than 375 employees and offices in Copenhagen, Aarhus, Brussels and New York. The building is owned by Dansk Erhverv and is insured at If Forsikring A/S, an insurance subsidiary of Finnish Sampo Plc. [<-I own it] and all kind office assets owned by Dansk Erhverv is insured at Protector Forsikring AS [<- I own it]. The building was filled with historical art, that is irreplaceable [being a material component of the art consisting a part the the total cultural inheritance for Denmark, of which some of it was saved, the rest lost in the fire.] I haven't been able to find out who is the owner of that art, and how it may be embraced by insurance, if any.

I do remember it, too, althougn while didenn't sell anything because of that. I disagree with you about if this was a big deal a not. To me, it was, still is, an continue to be. That said, thats about what to to get out of @Lucas sensationalism / meain stream news media posting style in this topic, by now.

Now I have had the time and opportunity to read the whole thing, and the philantropy programs inside Fairfax group are financed by the employeés in Fairfax Financial Group, not the Fairfax companies, so this is not a cost at group level, instead it rests on the shoulders of Fairfax employeés. The whole thing in this ESG Report about this is resonating rigingly hollow. It's simply false information. - - - o 0 o - - - I have dived a bit into Mr. Watsa's donations to the Dakshana Foundation set up originally by the original Pabrai couple [now diworsed] : 2022 - $1,001,255 [#1 donor for the year], 2012 - $1,004,819 [#1], 2020 - $ 997,001 [#1], 2019 - $ 970,404 [#2], 2018 - $ 976,003 [#1], 2017 - $1,034,288 [#1], 2016 - $1,000,150 [#1], 2015 - 1,002,761 [#1 - number rounded! ], 2014 - $1,046,836 [#1 - number rounded], 2013 - $ 948,129 [#1] [='Watsa Family'], 2012 - $ 1,000,000 [#1][='The Watsa Family'], 2011 - $1,000,000 [#1][='The Watsa Family'] 2010 - $0, 2009 - $0, 2008 - N/A, 2007 - N/A, 2006 - N/A, & 2005 - N/A. - - - o 0 o - - - This is a serious amount of money - USD 12 millions since 2011, and counting, and likely ex. 2023 [unless 2023 is $ zero]! It tells us quite a bit about Mr. Watsa and how he is wired!

Thank you very much, @SafetyinNumbers, This must be what Mr. Watsa is referring to in the shareholder letter.

Mike [ @cubsfan ], It's just the usual modus operandi for your way discussing things in an unordered manner for now years here on CoBF by instead of introduccing contunterarguments to what was posted here, in casu here by @TwoCitiesCapital was brought to the table for you, by your counterpart discussionswise here, you simply attack the other part with something else. To me, this is called mud sliding.

In the Fairfax Shareholder Letter released by Mr. Watsa on March 8th 2024 for 2023, on p. 33, lower part, I found this today : I'm nosy about this activily, but today I haven't really been able to find reporting on this as promised by Mr. Watsa anywhere I looked. I suppose I'm not looking at the right places. Any help from any fellow board member about this will be greatly appreciated, thank you in advance. - - - o 0 o - - - Just for information for those, that may not have any knowledge about it by now before I'm writing this : Mr. Watsa has beein a material donor - [personal donor, that is, [not Fairfax]], to Dakshana Foundation [set up and formed by Monish Pabrai and his former wife Harina Kapoor in 2005].

Here is no need to compilicate thighs here with regard to lending. Also, I don't think the lending needs more coverage here on CoBF.

Please don't worry too much about this, because it really does not matter that much, because when the music may stop at a future point in time, it will also be like peeing in your pants, so there will be no fire. [Posted by a CoBF member who is a citizen in a nation with order in the pencil case, running at a surplus.]

Yes. Segments have been removed between editions. - - - o 0 o - - - I's actually the scope of my work in progress Ph.d. thesis in the works now for many years, that I'll deliver and submit to the University of Southern Denmark at the given moment when done for approval : Know anything - down to the tiniest detail of an area so specialized that it does not really matter to anyone but yourself. The thesis is by now called 'A comparative analysis of the editions of 'Of Permanent Value' by Andy Kilpatrick 1994 - 202x' Because of requirements for written documention, I now expect the thesis to contain ~ 50,000 pages. [J/K] So much for being a Berkaholic.

Please go somewhere else for discission of US sealed border.

You're welcome, @Maverick47, When the new edition may be out, I personally think it may be time for some serious scalping & reselling! For now years, I've tried to pick up the blue edition that was released between the red 2017 World Wide edition and the green 2020 Elephant edition! Never met a second hand price that I would consider acceptable. -Furthermore, Mr. Kilpatrick could in my view make a killing by reprinting all earlier editions.

I stumbled on this post [in Danish] from the Danish LinkedIn member Poul Skadhede on this very day today : It translates to English like this : I think it says a lot about the local sentiment here in Denmark by now. April 9th is the date in 1940 where Germany occupied Denmark as an integrated part of Germanys occupation of Norway. - - - o 0 o - - - Mr. Skadhede is a consultant by profession and serves as professional board member. He is also as the largest shareholder involved in a group delivering consultancy and naval design services to shipyards and shipowners and -operators, including navies. [Originally formed as a spin off of the design department from now closed Odense Steel Shipyard A/S, formerly owned by A.P. Moeller A/S.] That group, called Odense Maritime Technology A/S, was responible for the design of the AOPS Actic Patrol Ships [ Harry DeWolf class offshore patrol vessel ] built at Halifax Shipyard, Halifax, ,Nova Scotia to the Royal Canadian Navy. So Mr. Skadhede is personally biased. But I personally think his views have merit.

Thank you for the kind way to respond on my words, @Luca & @Cod Liver Oil, I may here on CoBF appear sober or chill most days I post, but what's going on inside my head can't be really be described by representing my mental state most days as I'm sober or chill most of the time. Simply because I'm not, while I'm forcing myself to stay about fully invested all time long term. However I think I'm gradually getting better at it. It's about a large position in that Danish pharma every media is writing about, here now at above 20 per cent of total portfolio, which for me personally not is easy to sit on. So I already really have my mouth, hands and mind full with risk, that I try to relate to on a continuing basis. Also, It has become clear to me, that I likely possess a personal propensity to underestimate political risk related to foreign investments, based on my experiences in 2020 with Russian stock investments [Gazprom, Lukoil & Sberbank], however losses not cribling, but not forgotten. - And as always I may change my mind any day. ... - - - o 0 o - - - So, good luck with China! [sincerely meant!]

You guys posting here lately appear to be derailed or confused -, directionally, thematically and / or geographically. - This topic is about China, investment related.

After exiting a small position in DANSKE.CPH [Danske Bank A/S, Denmark] in January 2015, I started a small position in the bank again today.

I've got this reply within 12 minutes of sending my own e-mail : To me personally, this is great news.

Based on the exchange in the CoBF Berkshire Hathaway Forum, topic 'General News' lately about this book, I have now asked Mr. Kilpatrick if he has discontinued his activity with revising the book to new editions for selfpublishing. It would certainly not come as a surprise if that actually was the situation, and he thereby has decided to call it a day. Let's see if I get any reply to my e-mail.

I agree with @gfp on this assessment. The time span between each edition was on average a couple of years, give or take, and with some exemptions. The so far last edition of the book was the 2020 Elephant Edition : Topic about the book in the CoBF Books forum : Of Permanent Value - Andrew Kilpatrick.

@juniorr, For a specific reason [<- ], there exists no separate topic in the Investment Ideas forum here on CoBF about UNH. [ I suppose you here by UNH mean - UnitedHealth Corporation Holding Inc.] There is to me personally no doubt it's a good company. So please always feel free to start a new topic about UNH here on CoBF in the Investment Ideas forum for discussion. - - - o 0 o - - - Also, a belated welcome to CoBF from me, @juniorr!

Book about François Rochon, running Giverny Capital, mentioned by @KCLarkin in the topic in the General Discussion forum about Giverny Capital and / or Mr. Rochon here . [ H/T @KCLarkin. ] Unfortunately by now only available in French. Posted here to not get forgotten here on CoBF.

@Saluki, You're just our kind of guy!

Thanks for the posts in this topic so far. And especially thank you to @KCLarkin for bringning the existence of the book about Mr. Rochon to my attention, I was personally not aware of its existense. Amazon : François Rochon - Le parcours singulier d'un investisseur d'exce Paperback – Jan. 31 2023 .