John Hjorth

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 .

Over the years, Giverny Capital and / or François Rochon has been brought up for discussion here on CoBF several times related to interviews etc. Here, I'm taking the initiative to start a separate topic about all kind of news related to Giverny Capital and / or Mr. Rochon, because I think we miss such topic here on CoBF here in the General Discussion forum. Mr. Rochon [or Giverny Capital, for that sake] hasen't been mentioned a lot here on CoBF, but it has happened now and then. Personally, I like a lot that he doesen't appear self-promotional, and his track record is to me really impressive. In my personal opinion, we should talk and discuss more about non-promotional & humble money managers with good track records and their doings, than about self-promotional money managers with mediocre and louzy track records. - - - o 0 o - - - For starters : Giverny Capital - Annual Letter 2023.

Q. E. D.

@longterminvestor, What is your souce for the letter from Chubb attached to your last post? -Thank you in advance.

BN 2023Q4 Supplemental Information, p. 26 : The earnings number is USD 969 M. [ Link ].

@Xerxes, Thank you, All I can say it is that the disclosed 2023 earnings numbers for BN at group level was nothing to write home about. Less than USD 1 B to BN shareholders after taxes, minorities shares of results and preferred dividends on a BN group equity beginning of 2023 of approx. USD 30 B, indicating a progress of less than 3 percent. - - - o 0 o - - - Related to @Spekulatiuss last post above : @Spekulatius, I'm sorry for no reply from me to this post of yours now months ago, that somehow may skipped my attention. Here is at least my very late answer : Yes, your are right [, and that actually also what was my intent to express : LPs - BNs socalled partners will end as the patsies, if this seismisc movement into private credit evolves badly. But if the seismic movement to private credit ends up as a flop, BN shareholders won't get fat either [ perhaps Flat[t] ].

Thanks, Greg [ @Gregmal ], Your posts called for a smile, and especially the last one, here also quoted above, made me chuckle! -To keep it simple : It's true. There are still a lot of things to do that appears interesting, if one actually looks around, not even if one is - for one reason or another - restrained to a certain investment style, as alternative to stay flexible. There is still something to do for everyone, if someone asks me [, which nobody does]. CoBF related that translates and convertes to : More posts in the Investments Ideas forum, please! [, as an alternative to i.e. posting in this topic!].

@ValueArb, This is to me personally not a satisfactory reply to @Lucas polite request for elaboration of your personal postion [and I suppose to many other CoBF members] by posting "... cozying up to Putin, etc etc etc." - - - o 0 o - - - Please just start a new topic in the general discussion forum here on CoBF about "Germany out of NATO", and I'll personally take care of getting it reported to get it ditched.

NATO News [March 7th 2024] : Sweden officially joins NATO. It is to me the most important step for the future of the Nordic countries in regard to Security policy, combined with Finland joining NATO on April 4th 2023.

@Luca, What do you derive that from? Lurkers [Honestly, I personally prefer the terms 'visitors' or 'guests' in this context] can't post here on CoBF, so what is the logic behind your assumption that they have voting permissions, while no posting permissions?

I have spent a good deal of time time trying to find a way to lay my hands on a copy, for me first time this book was mentioned here on CoBF recently, but so far to no avail. Your copy is very likely a keeper, @gfp .

@Munger_Disciple, From the 2022 Berkshire Management Information Circular [DEF 14A] , dated March 11th 2022, where Mr. Gottesman passed away September 28th 2022 : and From my understanding of the allocation of Berkshire shares in news and the press in general attached to Mr. Gottesman, a quite large part has been owned by the investment firm First Manhattan.

A comment from a person here on CoBF, Charlie [ @dealraker ], which this topic started by @Viking may have been adressed - in reality - towards directly, with Charlie at likely several occations over the decades experiences Berkshire investors offloading the stock after it may have run up, while personally holding on - now for decades. - - - o 0 o - - - A then just recently : Seeking Alpha [ February 27th 2024] : Fish Town Capital : Why I Sold My Entire Berkshire Stake. Striking ... - Huh?! - - - o 0 o - - - At least a bit striking to me. I have no SA subscription, but I have read the article. The contents of the article makes absolutely no sense to me.

I hereby allow my self to express my personal sincere wishes that we from here can get back on track according to the intent and purpose for @Vikings opening and starting of this topic.

Albert Einstein Medical College [Bronx,NY, February 26th 2024] : Montefiore's Albert Einstein College of Medicine Announces Free Tuition in Perpetuity for All Medical School Students. - - - o 0 o - - - Made Possible by Transformational Gift - the Largest to Any Medical School in the Country. R.I.P. Mr. Gottesman.

I personally like this shareholder letter very much. Reading it made me think and gave the feeling : 'This is the Mr. Buffett I know and can recognize from earlier shareholder Letters!'. [ Honestly, to me personally, some of the last ones have given me a feeling of a man running out of steam, but that's just me. And that would actually and certainly be all okay with me after this performance in more than a half century, based on actual age by now.] Candid and honest expressions based on factual and critical thinking about the 'social contracts' between non-public owned regulated businesses and the US society as a whole. Personally I hope for the best for all my US fellow CoBF board members in that regard, because it's important for economic future development of USA. - - - o 0 o - - - A bit like asking a farmer i Western Jutland, Denmark at the end of October in a given record year for the harvest : 'How was the harvest this year?' Answer <With no excitement> : 'Not shabby, not shappy ...' - - - o 0 o - - - USD 96 Billon after tax and minorities. I just say : 'Not shabby.' But unlike the West Jutland farmer, I can't move the pipe from one corner of my mouth to the other while I say it. Isen't this the worlds second largest profit for any company on the planet, only surpassed by Saudi Aramco?

Impressive, as always. He has 2023 intrinsic value of Berkshire per B share at USD 479 [p. 114]. From what I have read on Twitter, Mr. Bloomstran has been going through a full hip transplant in early December 2023. Alone in that light and context, an impressive piece of work. Such thing happening obviously does not cause the cock to drop from the stick. Many of the topics he has taken up this time in the letter appear more interesting to me than the topics in earlier letters. I look forward to the read at a later moment. - - - o 0 o - - - Semper Augustus Investment Group LLC - 2023 Letter to Clients [Link].

Started a new position in NDEA.CPH [Nordea Bank Afp, the share of the bank listed at NasdaQ OMX Copenhagen] today with a small position, after having left the stock almost about 10 years ago.

Whose? [ ]

Ohh, please, stop!

@Luca, It's about your broker essentially does not like what you do. [Concentration in combination with the use of OPM.] Is it that difficult for you to understand? Who do you think get it their way, when it really matters, - you, or IB? - Just autoadjust, and please don't post about it in the Fairfax section of CoBF.