John Hjorth

Just for purpose of showing proportions interpartes, from trading economics [today, and all 2023 numbers] : Russia GDP : USD 2,021 B, USA GDP : USD 27,361 B Euro area GDP : USD 15,545 B, Germany GDP : USD 4,456 B United Kingdom GDP : USD 3,340 B France GDP : USD 3,031 B Italy GDP : USD 2,255 B. Please mind the individual proportions. - - - o 0 o - - - I'm still a firm believer that the econoimic consequences of this war already have imposed irrevocable damage to the economy of Russia, and the consequences of that will be for many years to come, the geografic definition of Europe [see Wikipedia] is generally set to the east to be in Russia [at the Ural mountains], and it will change to something like exclusive Russia, like 'Between the Urals and Europe we have the hellhole called Russia [totally isolated from the West]'.

For informational and leisure purposes only, and please make your own assesments and judgements : Forbes [September 21st 2022] : Meet The Investor Willing To Put His Money Into Ponzi Schemes. His Fund Is Up 593% [<- I can't help it : ]. Well, according to the content of the article, Harris Kupperman must now be 42 or 43. He will eventually 'cool down' and settle from being a pretty wild thing - it certainly drags out teeth to blow up with other peoples money, that's for sure. Entertaining to read about and to follow, without Mr. Kupperman totally being a break clown in circus, only there for the kids. When you have chosen such path for making money - making money off clients, as the contrary to making money with others [called partners], one has to be promotional.

A fairly good piece [in my personal opinion] by Reuters today : Reuters [August 17th 2024] : How Russia looked the wrong way as Ukraine invaded. It's fairly long, written as detailed notes on timeline basis brought together, describing all chaotic elements and events. I like it so, instead of reading the reporters assessments and conclusions. Total chaos in the communication among ranks in the line of command in the Russian military. I'm puzzled one can get away with lying about the actual situation to Putin without getting axed. It reads as total lack of any kind of structure, based on an agreed modus operandi / procedure and followed to the point, with precision. It has incompetence and dishonesty painted all over it. A pitty of military performance, verging to being laughable, I would say. What a disaster. - - - o 0 o - - - Two bridges important for the Russian military supply chain taken out in the Kursk area.

Today, I stumbled on X over the thread below. I would appreciate comments about the content and information from CoBF members with knowledge about the matter at hand in the thread. [I am personally a bit skeptical about the source and the author [selfpromoting ghostwriter, as I understand the account info.].]

Ha! - -But I have to give with regard to the share numbers owned are totally identical by last reporting.

Greg [ @Gregmal ], The following Wikipedia articles hits, what I'm talking about above, fairly well : Wkipedia : Western values, & Wikipedia : European values.

As a European CoBF member, I just have to say, I cringe out of embarrasment by reading your post, - for my part, not yours. Europe as such should naturally be able to stand on its own feet and defend it self against foreign agressors, which it - as a fact - isen't at the moment. [ How lame is that? - It's just such a bad joke.] However the general European sentiment is we will improve on that, but it will take time. Ramping up military spending is big deal involving a lot inertia, based on bureaucrasy and such. - - - o 0 o - - - Basically, it is al about preserving Western values of life in European societies, which I hope you agree is the right thing to invest in.

Thanks, @UK & @Xerxes, I'm still shocked by reading this. Not shocked - at all - that Volodymyr Zelenskyy may have signed off on this action and may have supported it on a practical level. Extraordinary times and circumstances may from time to time to require extraordinary measures and may contain an element of Catch-22 and imply Collateral damage. To me, if he has participated in this, he has just done what his people rightfully might have expected of him as their leader and as a patriot. I'm also fine with him not public taking responsibility, when the adversary behaves like in this overall sitiuation. Bullies mostly understand nothing but brute force. I take issue with the Danish and Swedish governments handling of the case, who initiated investigations of what happened back then, only to 'burry' achieved findings and conclusions with a 'confidential' stamp, based on the matters were 'relevant for the safety of the state'. Utter *BS* and hipocrisy in two open democracies. More stinky than fishy - bad odeor all over it.

I think maybe you forgot Kuppys involvement in Sark Property Company as anchor investor. [A mini Joe?]

War fatigue and what ever, what do I know : Bloomberg - News [August 15th 2024] : Ukraine Reports Largest Surrender by Russian Troops of War . At least these - about 100 or so - prisoners of war may likely now have material improved life prospects, Or not? Yet : How to explain - when home in Russia again - that you have done nothing wrong again Mother Russia while in Ukrainian captivity? - Why did you surrender? - etc.

Thanks for sharing, @gfp, It's very interesting. I have always wondered, why Berkshire hasen't does more of this stuff [called 'intelligent finance' and so]. In the 'total system' there must have been large amounts of net financial costs to save, from a group perspective. [I personally loved to help clients with such stuff earlier in life, before the hair turned grey and started an exodus due to gravitation etc. from a point, where every direction is south bound ...] Very easy money earned for a satisfied and happy client, fairly easy work for a relative huge bill to client, all happy. I suppose this has something to do with both Mr. Buffetts and Mr. Mungers abhorrence for administrative and corporate bloat. I wonder if these transactions has been based on Mr. Abel calling Mr. Jain, or Mr. Abel setting someone up to call Mr. Jain.

Oops, fixed factual error about Åland Islands in post above, - thank you, @UK.

It's an economic main stream media thingy / phenomen, it's all about clicks, subscriptions, also as a basis attracting advertising, and thereby advertising income, etc. Next, the people in all kind of financial institutions responsible for sales, assets under management, fees and commisions set in on how they are there for you to help you out of your actual misery from what other or maybe yourself may have done of harm to your self related to your actual situation [just to get the opportunity fleece you, that is]. Simultaneously and together with those first and second waves of gobbling you have members and participants in the political systems everywhere venting their stances on this and that that is actually up for discussion, with 'this can't be right, this is not going to end up well, -we absolutely need to take decisive actions to avoid the future consequenses of that - now!'. Turkey farm behavior and pattern all over it : That said, for the last few years that I've had a subscription on Economist, I read and scrutinize the byweekly tables of Economic & financial indicators and Makets data, which provides a great pushback on all the 'Turkey noise', ref. above, because you get data, - data with no comments and no noise attached, and gradually one gets an overall feeling how certain parts or countries in world are doing, which matters to me, for my basic understanding of local conditions at given location on the planet.

Reuters [August 14th 2024] : Germany issues arrest warrant for Ukrainian diver in Nord Stream probe, media report. Maybe some material facts of importance was 'burried' [withheld] by the Danish and Swedish government in the first place, because the release of it would affect public sentiment at the time? [- politicians are soo smart, right?] - - - o 0 o - - - I have my eyes firmly fixed on the Danish Minister of Foreign Affairs Lars Løkke Rasmussen here.

Bloomberg - News (video) - August 6th 2024] : How This Archipelago Became a NATO-Russia Flashpoint. The story about how the history and the present of the Åland Island [Swedish Finnish] in the Baltic Sea has evolved related to the big neighbour Russia to the East. Reminds me a bit about the relation of Bornholm [Danish, also located in the Baltic Sea, but south of Sweden. The 'forgotten island' in Danish terms and a bad conscience in Danish history, where WWII diden't end at the date of German capitulation, untill about a year later - Russian troops simply did not leave the island untill about a year after, and actually a few island citizens lost their life in that diplomatic mess to solve the issues after the end of the war, which caused Russia to actually bomb the two 'major' [still small] cities on Bornholm.

Off topic, @Xerxes, The historical tax revenue stream to the Danish State [It was called a separate tax on carbonhydroxids] - imposed on A. P. Møller-Maersk A/S and its partners in DUC - an enormous amount of money over the years - several hundreds of billions of DKK - on the oil and gas exploration in the Danish part of the waters ofthe North Sea - is basically today gone, vanished, spent [on toilet paper and the likes BS, by Danish idiotic politicians].[1] - - - o 0 o - - - I'll do my best to remember to open a separate topic such sovereign funds in the coming autumn. As you said, it's a fascinating topic. Back to topic. - - - o 0 o - - - [1] A tiny part that gluttony was likely to provide free college studies and 5 years university studies to M.Sc. level for me - a part of the total capital allocation, on which I naturally concur. [ ]

Not neccessarily a foundation for a superbubble, if thought and setup the right way, Blake [ @Blake Hampton ]. The Norwegian 'Government Pension Fund Global' may be worth your time and attention for further study and deeper understanding. The economic foundation and basis for the fund is an extra 50 percent points on the taxable income of Equinor [earlier Statoil] as a common and broad political decision back when Norwegian oil venture stated [in the '60s, I think], where this separate tax revevue stream [the separate 50 percent points] not are included in the state budget, but are separated, saved and invested for the very long term, all in separate entity [called Norges Bank Investment Management], which is not controlled by the Norwegian political system, so idiots cant get any stupid ideas with about what to do with all the money. Only in years when economic conditions have been sour has it been alloved to transfer parts af the return on the saving back to the state for inclusion in the budget. As far as I can see will Norway gradually evolve [over some few decades] to a society where the working share of the population will shrink to fewer and fewer capita, because taxation of working income will not be needed to make ends meet in the state budget. It's indeed mindboggling to think about. Link : Norges Bank Investment Management. Link : Wikipedia page: Government Persion Fund Global - - - o 0 o - - - Now back to 'have we hit the top' and whatnot.

- Nothing like a glass of something of quality and of personal preferences on a Friday at the end the work week to start the weekend!

Reuters - Markets [July 26th 2024] : Russia's central bank governor Nabiullina on rates, economy and banks. Russia Central bank's key rate up to 18 percent. Bloomberg - News [August 9th 2024] : Russia War Economy Set for Sharp Slowdown After Second Quarter. Growth is likely to halve in second half of year, analysts say. Huge government defense spending helped drive wartime growth. - - - o 0 o - - - This will soon become very tangible and real to feel for the Russian population. Poor Ms. & Mr. Ivanov [similar to 'Jones' for us]. Russia has a population of ~ 145 million. It's a nation with huge differencies in living conditions based on geografical locations, Living in Moskow or St. Petersburg is materially different compared to large parts of the rest of the country.

YouTube : Ashton Gleckman : Hans Zimmer - Interstellar (Royal Albert Hall Organ).

@Luke, Are you trying to tell us that you have been margin called by IB?

The discussion about the deficit [in US and in other countries, for that sake, too] is always interesting. So is the discussion about tax deductions for charitable donations and taxation of foundations, as a measure to keep up a state deficit in check. I'm lucky to live in a country up North in Europe, where we by now actually are in a bright spot on a green branch of the tree [doing reasonable well, while running with no defit, and pretty stable situation], and I personally think we by trial and error as a society have found the something that have created 'an accepted social contract' between the countrys need for income streams, and tax regulations, that create some kind of overall cooperation for the benefit of both the state, the Danish society and the Danish foundations. But we need to place in them another topic than this.

This is actually an interesting exchange between @Eldad and Greg [ @Gregmal ] with regard to actual timing related to reporting. Will we see 2024H1 reportings not yet done and not still due by now, that at arrival at a later date than today will seem to have been through a 'last and late spin' to in whatever way to cover and / or include events after the balance sheet date?

Spin of thought, I would say. This is not about lack of liquidity and / or lack of capital in the banks.

Crazy for me personally to read that some you posting above can't get to your funds on a day like this, if you find it time to act. Personally I've never really been there, left behind, as customer, this way. Simply not good enough by the financial institution that leaves you behind, hanging to dry. Be demanding, relentless, ruthless and mercyless. Life is too short for that kind of BS. Best of luck with these issues.