John Hjorth

@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.

Off topic : We definitely need to help each other here on CoBF about getting better to collect and snap up second hand books, that are rarely supplied at any international, national, regional, or local marketplace. It is about cooperation among interested CoBF members about detailed mapping of all potential sources of supply. - - - o 0 o - - - Now back to topic. - - - o 0 o - - - Have a nice weekend.

Which qualifications does Li Lu possess to qualify for being on the board on one of the worlds largest conglomerates?

Swedish Prosecution Authority [February 7th 2024] : The prosecutor closes the Swedish investigation concerning gross sabotage against Nord Stream. Why did it take so long to come to the conclusion about lack of Swedish jurisidiction? It now on the shoulders of the Danish government, especially our Minister of Foreign Affairs Lars Løkke Rasmussen.

Thanks, @Cigarbutt, So it's indeed far from trivial how to move forward from here for BHE, based on capital allocation, based on reason. Just to post some facts related to my own home bias, ref. your post : Areas : Denmark : 42,952 km2 [ex. areas of Greenland and Faroe Islands] California : 423,970 km2 Oregon : 254,810 km2. Next one add a new dimension : Total population. Then one add population density, and maps of how it's distributed, etc. etc. - - - o 0 o - - - There is a lot to do! -But if the involved americans aren't going to pay for what they will get, they will get exactly that : nothing! In a way, that's fine with me.

Thank you, @bargainman, YouTube - Tony Seba : The Great Transformation [Part 1] - Patterns of Change, Key Technologies & #PhaseChangeDisruption, YouTube - Tony Seba : The Great Transformation [Part 2] - The #Disruption of #Transportation, YouTube - Tony Seba : The Great Transformation [Part 3] - The #Disruption of #Energy, Youtube - Tony Seba : The Great Transformation [Part 4] - The #Disruption of #Food & #Agriculture, & YouTube - Tony Seba : The Great Transformation [Part 5] - Implications.

Thanks, @RadMan24, That's not so hard to do something about. Danish style solution is, - and has been for now about two decades, I think, to dig - all powerlines - into the ground, smashing more than one flie in one slap : Not only [reverse?] fire protection, but also storm protection and frost protection [think Texas not so long ago].

@enoch01, Thanks, On the former software platform for CoBF, where we could have a so called signature [a section, that was repeated in the bottom of every post of ours individually, mine was : ""In the race of excellence .... there is no finish line!" HH Sheikh Mohammed Bin Rashid Al Maktoum, current ruler of Dubai, VP, prime minister, and minister of defense of UAE" - - - o 0 o - - - Mr. Buffett talks about "To win, you first have to finish". - - - o 0 o - - - I also remember a few accounts here on CoBF almost hyperactive for a fairly short period, alone for after a period to disappear in silence.

@Sweets last post just inspired me to this tidbit : From Swedish Holmen AB website [Holmen AB is a forestry company and one the largest landowners in Sweden : A free book! [Like in really free! - Not 'Please subscribe to news from us / follow us on X or FB, and we will send you your copy of the book' / 'for our shareholders']: https://www.holmen.com/en/paper/products/book-paper/book/ I ordered the book back in december, nosy as I am, because I'm a shareholder indirectly via L.E. Lundbergföretagen AB, while Holmen AB is also separately listed. - - - o 0 o - - - I've never in life seen a company profile brochure in the form of a 125 pages high quality paperback explaining in depth how the compay is doing business and its business model vith modus operandi. A company, where planning involves decades in short term planning and long term planning is about centuries. At the same time the book is a product sample of one the companys products [paper]. A business where all inventory items are slow moving items! If you're good at planning, you'll never have to scrap anything - in stead you just let it be on its roots to another day when the demand is there, and in the meantime it just stands there and becomes more [grows] without futher outlay / cogs going up! Newest business leg : Slap wind turbines in clearings in low quality forestry land, there are no neighbour complaints in the planning stage, but perhaps the towers may need a little extra height! I really can't imagine this company not being here and not staying for many years, because the worlds population growth and foresty products is an input factor to housing, and likely a good inflation hedge, too. But it's already controlled by a parent, who understands and appreciate its long term properties.

@RadMan24 & @Cigarbutt, How do you gents use and what do you mean by , and what does the term 'wildfire supression' mean in this actual context? [I'm not sure I understand it correctly.]