John Hjorth

Berkshire: Please substitute "press release" with "website", and you get the picture. [ ; - ) ]

You're a wild thing, SlowAppreciation!, - Sell the whole thing to Google when done! [ : - ) ]

I'm in some kind of shock after reading the article linked to in Liberty's post #3 in this topic. I have a couple of questions: 1. Are the business interests of the members of the US Government made public somewhere? 2. Is there any response or reaction to the Forbes article linked to by Liberty from Mr. Ross?

The Register: Security - Parity Calamity - Wallet Code Bug Destroys $280 MEELION in Ethereum. Ouch.

Thank you a lot, Daniel, What an outstanding gesture from you! Personally, I decided to settle with two versions of the book, for the price of one, - by ordering on Amazon today the hardcover, too. [ : - ) ]

After participating in this topic in the last few days: New Essay: Evaluating Performance, I think I finally have something to add [perhaps] of value to this topic, and about this book: The book contains a structured analysis and way of describing the concept of "Mr. Market".

... Well Austin's strategy is just what I'm doing plus my partner, who posts on here occasionally. ... I'm not trying to be rude, nor condecending, or anything else here [i have no reason or basis to be so], but this - at least to me - sticks a lot deeper. For your part, [naturally, I'm not referring to Joel [racemize] or Jeff [rainforesthiker] here] please take your time to make up your own mind. Alone doing that, will be quite time consuming, here on CoBF, by reading the board. It has absolutely nothing to do with a "strategy" - in its ordinary business understanding - [in the meaning: "We are at "A", and we want to get to "B", in a certain sense]. In short, it's an investment framework, that you can relate to [no matter what's on your watch list, or in your portfolio], or you can't. Austin Value Capital - Philosophy. CoBF book topic : here. John has done a much better job responding than my lazy answer below—more evidence that we should have him on our non-existent payroll. The book, essays, philosophy, and letters lay out the framework fairly well for anyone interested. My answer related more to how the returns have been generated than what framework or strategy we are using. So, the framework is fixed but the strategy is opportunistic. Thank you a lot for taking my post by its sincere intentions, Joel, It was meant exactly the way you read it, ref. your response here. [it takes a really "dumb-smart" person to tell other people, what to get out of two persons shared work - especially the persons, who shared their work and thoughts.] Thank you. Jeff's book is actually an intellectual framework to avoid being your own worst enemy [on psycological level], by staying factual, rational and emotionally detached, by staying occationally opportunistic and contrarian to herd/crowd behavior in the market, based on facts. - - - o 0 o - - - Personally, I'm certainly still on the school bench with this, but it's getting better over time [read: less stress, combined with better return]. - - - o 0 o - - - With regard to benchmark, I think it's evident, that the yardstick should be a measure of the general market [please make your pick], because that is what one here has the intention to take advantage of. - - - o 0 o - - - Edit: Added the word "occationally" above.

Thank you for providing the exact numbers for Berkshire end of 3rd quarter 2017. A bit entertaining - at least to me -, and stated not to be misunderstood - I hold both you gents' posts here on CoBF about Berkshire very high, Dynamic & rb! [ : - ) ] - - - o 0 o - - - On another note: No further information about the Pilot Flying J aquisition in the Form Q-10 compared to what we already knew, exactly as predicted by globalfinancepartners earlier here on CoBF.

The author definitely needs to update the website. Forget gold. Sky is not a limit here. Compounding does not-at least to my knowledge-contain the concept of a cap. [: - ) ]. All cartoon BRK figures here - plain and simple. We just have to get used to, and comfortable with, this.

... Well Austin's strategy is just what I'm doing plus my partner, who posts on here occasionally. ... I'm not trying to be rude, nor condecending, or anything else here [i have no reason or basis to be so], but this - at least to me - sticks a lot deeper. For your part, [naturally, I'm not referring to Joel [racemize] or Jeff [rainforesthiker] here] please take your time to make up your own mind. Alone doing that, will be quite time consuming, here on CoBF, by reading the board. It has absolutely nothing to do with a "strategy" - in its ordinary business understanding - [in the meaning: "We are at "A", and we want to get to "B", in a certain sense]. In short, it's an investment framework, that you can relate to [no matter what's on your watch list, or in your portfolio], or you can't. Austin Value Capital - Philosophy. CoBF book topic : here.

It seems that globalfinancepartners & rb agree on the BVPS progress for the year 2017. [i haven't worked on it - I'm just too tired to do so here this friday night]. - - - o 0 o - - - Dynamic, your posts within the last recent months here on CoBF about Berkshire are very much appreciated! - - - o 0 o - - - Berkshire cash position end of September 2017: Now at USD 109.290 B, as I calculate it [including T-Bills].

Is now available here.

Thank you a lot for sharing your work, Joel, It's much appreciated. Impressive, what you have been able to dig up in so short time - and to process. Most likely, you have made my Saturday afternoon to come. Thank you to both Joel & Cigarbutt for guiding me to Giverny Capital and Mr. Rochon. I did a search on here, and found quite some posts - They have skipped my attention, totally. Very interesting stuff. - - - o 0 o - - - I look forward to an enjoyable and instructive Saturday afternoon - thank you.

Let it go, npk007, It's not worth your precious time, nor your - hopefully - good mood. Move on. - And don't forget, going forwards.

Thanks, longinvestor, I like the topics, that you start. They are always food for thought. Please don't take this post too seriously, but where do you find the person [in North America], that is used to, and comfortable with, allocating this kind of capital going forward, based on, where Berkshire is right now? [Think double digits USD B, per year - going forward] - To me, not inside Berkshire, right now. In another Berkshire topic here there is a deep and longlasting discussion of "Buying Berkshire, cash position etc." from several angles. One of the things that was speculated about was, if Mr. Buffett's telephone actually rings about deals. Cigarbutt mentioned that he thought it rang a lot. I'm in the same camp with regard to speculation on this. Edit: Fixed Cigarbutt's handle! - Apology ... lol

Interesting, ValueMaven, Thanks for sharing. Let's see how it plays out.

Awesome! - Thanks a lot for taking the time to share, SharperDingaan.

Hi Jan, A belated and warm velcome here on CoBF to you. Very intesting stuff, that you are working on. Exactly this topic here on CoBF proves to me, that the newbies of the past are the great investors of the present and the future. So, please don't be a stranger here on CoBF going forward.

lol. Exactly also your post I was waiting for ... - with a lot of patience! - And now I see you posting this. [: - ) ] I think it's evident for everybody, who have read this board for several years, that you have done extremely well for your self, and your family and friends, in the private partnerships. [i remember ericopoly once calling the whole ting of yours a "gang" or a "mob" [: - ) ]. I hope that we can settle on your long story short from you here. ... Please! [ : -) ]

Started out with a small position in BAM today. The post by Uccmal in the BAM topic today, in the Investment Ideas forum, did trigger this.

Perhaps your best bet for this, Voodooking, is to order the book linked to by ValueMaven prior in this topic.

Fred Schwed has a great analogy in Where are the Customers Yachts There's no better lesson than taking some real money to the market and losing it. Reading books won't do. It's like trying to describe to a seventeen year old the difference between passion and romance. It's so true, longinvestor! - Thanks.

Fascinating stuff posted so far, since I put the defibrillator on the topic. [ : - D ] - The common denominator seems - at least to some extent - to be trial and error efforts, resulting in failure - to some extent, causing adaption & adoption - to get better.

longinvestor, My story of ignorance & stupidity [indebtness, no crisis fund, really, for a rainy day [or perhaps even worse than just one rainy day, plus "the trees actually just grow into the sky" - at least for me, they do! - Perhaps I don't have any money, but I know my bank has - Perhaps I did not think carefully enough about if they wanted to lend some of them to me, when I needed access to cash ... etc.] is already ready posted on CoBF here. [ ; - ) ] Ref. my post I'm linking to above, I had to stabilize my personal finances as first priority by getting a new job [that was not easy at that time, just post GFC], next I started to think about the future doing some projections in Excel continuing like I had done for quite some years. That scenario had absolutely no appeal to me. Talk about a poor retireé, with no freedom to move the ears just a bit. So it simply had to change going forward - to the better. The expected future outcome of status quo approach was simply not acceptable for me, because of my own mistakes earlier in life. Bond investing like descibed worked well for me pre GFC, when I had no time nor energy for studying. Now, I haven't regretted the change one bit, even considering the risk involved. It's a good platform being scared the crap out of [of what has just happened under the GFC], and at the same time hell bent to get in. Personally, I also think finding CoBF and joining the board has been instrumental in the change. I have learned a lot over the last almost five years here. Thank you to all! - for making me less dumb, and less poor. - - - o 0 o - - - The future: I have no idea what that brings for me ... Maybe one day we should have a topic here on CoBF about how to "retire" from investing? [here, I mean without having blown up, that is ...]

I'm calling this old topic - from 2015 - out for a bump & spin, because I find the question interesting and usefull as background information for reading posts by fellow board members. I hope you'll chim in, if you haven't already. - - - o 0 o - - - For my part, September 2012 @ age 54 [born 1958], for stocks. Approx. 15 years with bonds before that.