John Hjorth

Please continue that particular discussion in the GOOGL topic, where it is also and alreday posted.

Thank you for sharing, @Spekulatius, Somehow, there was a "nerve" contained in your post above, that simply was not present in my last post above. Thinking about it - a bit about it, at least - it is about four Substack accounts sharing with me every time Mr. Buffett has been buying i.e. OXY [, or visiting the toilet at office]. I'm pretty sure I personally would end up constipated, if this was about me.

Thank you for sharing, @thowed, Just by reading the preface of this edition, I got exactly that perception, thank you. There is to me no way I can see my self investing like Mr. Mayer as of now. [I know the composition of his portfolio]. I would not get much sleep doing so - perhaps / perhaps not like him]. It is about being an old bugger, with no time left to permanently loosing capital going forward. Still, an old dog can learn new tricks along the way. It's all about position sizing here. Please don't try to tell me that it can't be taught, because I'm a firm believer in that anything in this space can be taught [, including : taught by practice], based on the right personal attitude towards the challenge for the pupil / apprentice in the actual situation.

Please leave Seeking Alpha subscriptions out of this topic, if you want to reply here. Please start your own separate topic for discussion of Seeking Alpha subscribtions here on CoBF, if you feel inclined. The subsciption framework on Substack is materially different compared to the one used at Seeking Alpha, at least ATM for both, compared. -So please, - No *BS*, - no long song offtopic here - from the warm countries. -Thus. Thank you in advance.

This has been on my mind for while. To me, personally, it has become gradually worse over time. I can't really pinpoint towards time, but to me : It's happening : *BS* and nonsense posted there about every day. So called "writers" running out of steam, now providing i.e. "Berkshire bits" - of the week - about what Mr. Buffett might have said some 20 years ago at an AGM, or what do I know. Lately, I've become really tired of all that stuff hitting me, making me choose to disconnect to several Substack accounts. How about you? - What do you do? - And what are your thoughts about it? -Thank you in advance for sharing your perceptions, opinions and insigths in this topic. Have a nice weekend.

I ordered this book at www.amazon.de about a week ago, today it got delivered as paperback from a physical adress in Italy [only this paperback version available as of now]. It's a reprint of the book by Mr. Phelps released many years ago [right now, not clear to me, when], released in November 2014. A dinosaur, but I'm looking forward to the read anyway.

I ordered this book about a week ago at www.amazon.de [to avoid customs from out side EU], because of the prohibitive price of the book at my favorite Danish web bookstore : www.saxo.com [cheaper to buy it at the German Amazon website, delivered to Denmark than using Saxo]. Just for starters, I started reading the introduction today by Chris Mayer. It appears from that, that Mr. Mayer has had some kind black swan [positive!] experience / [h]eureca-moment reading the transcript of a speech held by Chuck Akre back in 2011. [For me, that's about one year before I got hell bent serious with investing and stock picking, to make a material difference to the future living conditions of the Lady of the House and I]. I actually managed to find that piece today, and reading it, so to say, diverted me today from the book as such. I hereby share it here: Chuck Akre [November 1st 2011] : An Investor's Odyssey : The Search For Outstanding Investments.

Nothing forgotten about Mr. Flatt for my part, @dealraker just not in the mood right now to pull in the rope about it. Spring is here, while located much more northern in the northern hemisphere than you, enjoying the northern European spring climate, with a big thank you to the Gulf Stream. Just sun from a clear blue sky, 16o C now at about 4:00 PM. Life is great, as you say!

@Dinar, An industrial comglomerate headquartered in Denmark [Århus, Jutland], built from basically nothing about 24 years ago. Consists today of six strong or fairly good global businesses, each of them headquartered in Denmark, + a group HQ. Known for taking risks while investing for the future under headwinds. It has been busy with organic growth, M&A and bolt-ons the last few years, while paying a steady or rising dividend, while it also has been buying back its own stock, without getting levered up too much. I feel that I haven't seen any capital allocation mistakes here yet, now that I think of it. Results appear lagging lately according to some, but to me it's about serious amounts of capital tied up in growth capex and conscious decisions related to net working capital management, both harming ROIC short term. At least around DKK 100 M pre tax in PPA depreciations each year, that aren't real. It looks today much different than when I bought the first shares now almost a decade ago now - and much bigger, and - to me - better, and I think this will also be the case 5 or 10 years from now. Boring to some, certainly underfollowed, some has even called it a *POS*.

Bought some more SCHOU.CPH [as I have done within the three years or so, on and off]. Furthermore added a very tiny bit to BN.

Jeff, [ @DooDiligence ], Why are you imposing these "Berkshire" restrictions with regard to [[postion size] and [thereby return?!?!]] to yourself? - To me, it makes no sense.

Somehow, this last post of yours hit a nerve at me, Mike [ @boilermaker75 ], My personal biggest worries related to the conflict and all its ramifications, as of right now, and ordered : How to stop the meaningsless loss of so many lives, How to stop the meaningsless loss of all kind of infrastructure, homes etc., & How to get the adoption of Sweden in Nato on the fly. [If some of my fellow CoBF members don't understand the importance of Sweden in this respect, just look up an updated map for the NATO area in the Nordics. It is about protecting the integrity of Finland.]

Book mentioned in the The NVO - Novo Nordisk topic here on CoBF. Danish version : Gads Forlag : Kurt Jacobsen : Novo Nordisk, English version : Gads Forlag : Kurt Jacobsen : Novo Nordisk [English edition]. [Which will be released on April 14th 2023.] I reveived the Danish version of the book yesterday. Started reading a bit of it late in the evening, ended up reading on in the bed, after I hit the hay. Very hard for me to let it go, to go sleep. Kurt Jacobsen is a professor at Copenhagen Business School, he is a holder of a ph.d. in history, with a certain interest in business history. I immediately "fell in to the book" [got hooked] while I started reading. The book has been produced in celebration of the predecessors of Novo Nordisk reaching the age of 100 years, while the company granting Kurt Jacobsen unlimited access to the archives of the company. It's thorough and meticulous in all matters covered, to an extreme degree. It's actually written as was it a ph.d. thesis. From what I have read so far, I got a lot of knowledge about Insuline and Diabates in the early days, now 100 years ago.

Thanks for the color, @rkbabang.

I just want to schime in here and say as an European CoBF member, that reading this topic as of lately, is simply heartbreaking. Reading this makes me appreciate my own living conditions up here in the northern part of Europe. Here, we certainly have our challenges with getting our public health care system to work properly, but nothing like the described societal problems recently in this topic here.

@dealraker, I really appreciate that you are taking your personal time to respond to my posts. This :

Off topic, and then - after all - not at all, New book from Morgan Housel on its way to its audience - as I understand things, it is set to be published later this year :

Thank you, @Saluki, To me, The above is just so true, nailing it. Thanks for the recommendation.

I hear you, @thowed, Parts of the book are likely to most active CoBF members a bit trivial, I think. Yeah, likely you are a minority being disappointed, - I don't recall where I saw it, but Harriman House sale of this book has now exceeded 3 million copies. That's a lot!

@dealraker, First I got a good laugh reading it the first time, now I see the topic continue at good clip - with no response or reaction towards you. Now I can't help it any longer.

Thank you, @gfp, My immediate thought - perhaps more a kind of a question - here is : Is this perhaps a token for Mr. Abel taking more control and putting his own personal fingerprints on things and processes in the privately held [non-listed] non-insurance companies?

The subtitle of the book is : "Timeless lessons on Wealth, Greed and Happiness". The subtitle says it all. The book is covering 19 short stories, covering concepts about human behavior and rationality [, or lack thereoff] related to money. Many of those concepts are one way or an other covered or touched during the activity here on CoBF about every day. It's very well written. I have really enjoyed reading the book.

@dealraker, These overriding themes, dwarfing, overriding and overshawing everything [well, naturally not everything] and creating a certain negative sentiment has been going on pretty constantly also here on CoBF, as long as I've been around [, and that's now more than decade], which I think is somewhat mentally unhealthy to adopt to. To which degree do they matter? Well, naturally it matters in respect to how one is invested. So if these macro things keeps one awake at night, perhaps the solution would be to invest differently than what one already does? Based on the "Pro Business" attitude I posses based on education and professional training etc., I'm a firm beiever in the on CoBF former technical platform signature by @Spekulatius : [This is not nice, but] I find it striking that some CoBF members are more active in these kind of topics than in the Investment Ideas forum. Keep the eyes on the ball. The ball here is your own portfolio. This not the same as as stating all "macro-talk" on CoBF has no relevance, i.e. for real estate is matters a lot.

@dealraker, Personally, I don't think there is anything wrong with the work provided and shared - public - Mr. Bloomstran. There may be shades and nuances, - here and there, where you may be left at on your own discretion - till example last year, Mr. Bloomstran handicapped the Berkshire AAPL position by USD 50 B - talk to me about variant perception! - Or was that the year before?! To me, in the end, it is all about aiming for return vs. patience and risk taking. I do not consider Mr. Bloomstran bad in that regard. He just has some preferences outside my own circle of competence [, in general called energy], that causes me to never really *click* with him. And after all, - in the end - he is just another money manger, - with a personal agenda - that applies to such people. - - - o 0 o - - - The only difference compared to Mr. Buffett [the younger version of him] I've personally been able identify is a swimming pool [, but what do I know, I may be wrong here].

@Xerxes, To me, it appears as somebody - has - more or less - forgotten - who to serve first [clients]. Because I'm not actually a customer, my perception may thus be totally wrong. To me, it's just dishonest and disingenious to allocate a material part of capital from limited partners to Berkshire, instead of asking the limited partners buying Berkshire stock themselves to hold. Maybe the content of this post can be boiled to that I'm about to have had enough of Mr. Bloomstran. By further thoughts, I may be absolutely unreasonbly here, because actually, not much really material happens at Berkshire during a year, forgetting the material leaps in some years.