John Hjorth

KAL's cartoon October 21st 2023 :

To me personally, this has gone totally overboard in the MSM, and likely much of it highly speculative, simply because the speculations are undocumented and not founded in realia. - - - o 0 o - - - Here is one of the latest ones : Bloomberg BusinessWeek [October 18th 2023] : The Ozempic Effect Is Coming for Everything From Kidney to Heart Disease Treatments. It appears and looks realiable and trustworthy on surface, and contains a lot of links to 'socalled sources'. These sources are - most of them [- I haven't checked them all, so can't say for sure it's all of them - ] are other Bloomberg articles, released earlier on the matter or about adjacent topics. Then you can check the sources in the underlying 'source'-articles, and you find other yet earlier Bloomberg articles as sources, that also do not contain any factual news or information about it from an outside Bloomberg source with some professional credibility. Then you start scratching the top of your head, asking your self : "Where did it actually come from?", going back / returning to article that linked to that particular place, and you realize that there aren't any links to or specific guide to basis for the written statements in the article for its central statements, generating the actual headline of the article. [<- Translation : WTF?!] Journalism at its finest. - - - o 0 o - - - The article is partly subscription protected, and contains this [, which I don't know what to think about - also thinking Novo Nordisk and Eli Lilly should focus on ramping up on production capacity and on work for approval, instead of 'chasing everything'] :

This phenomen is not only observable in the United States, it's the same develoment in MSM coverage here in Europe, too.

KALs cartoon this week [on second thoghts he may be missing inflation and interest rates? [-Perhaps that no-name monster just below 'Pandemics' may be one of them? ]

Bloomberg - Markets - Fixed Income [October 11th 2023] : KKR and Carlyle Take No Carry on New Private Credit Funds. It appears to me like everyone is running in the same direction with the tongues hanging out of the mouth. The real question is if the dicks are hanging out of the zippers also, and what body parts are making the decisions - the brains or the dicks? Private credit funds based on open ended funds structures? Please give me a break. This is going to go bad - very bad. Private credit commoditization in this industry at its finest? - - - o 0 o - - - Bloomberg - Markets [October 11th 2023] : Oaktree’s Howard Marks Urges Significant Allocation to Credit Market. Oaktree Capital - Howard Marks memo [October 11th 2023] : Further Thoughts on Sea Change. Prelude : Last line :

I have to say, that I really appreciate, that you pick up this topic again for a further spin, @Spekulatius , During the last two weekends I've been looking at Blackstone [BX] too, compared to Brookfield [BN]. Here, I also have to say, that what you give is what you get, related to investors for a listed company like BX or BN, is likely [to me] what we see here. And I personally think the dispersion in this actual case as documented by you above is exactly about that. BN is in the stone age reporting wise related to own investments in funds set up for covering clients needs, - compared to BX. And shame on BN for that.

I don't know if this is of any real help here, but a search gave me this [at least it smells a bit like it] : Seach results from Google in Google Books.

Itchy Feet’s Map of Every European City [October 10th 2018]. A must-have reference tool for every investor interested in European Real Estate. - - - o 0 o - - - Itchy Feet’s Map of Every American City [October 17th 2018]. A must-have reference tool for every investor interested in American Real Estate.

Bloomberg - Pursuits [October 6th 2023] : Berkshire Hathaway's Charlie Munger gives $40 million in stock to California museum. - - - o 0 o - - - Charles Munger SEC Form 4 dated October 5th 2023.

That reads logically and very likely, @gfp. We could perhaps add to that, that BNSF is now Mr. Abels turf, not Mr. Jains turf, so if it could be done now so to say for free, it makes good sense also in that respect.

I personally think there is a lot to think about with regard to the concept of "treatment" in todays medicine. In some cases, it's to me 'just' a lie, diabetes being one of them. [Pardon my French here.] Threatment as in 'keeping things in check' is certainly not the same thing as a cure [once and for all].

lol! - This is just so extreme, that it's almost beyond imagination! I visualize a meeting between Mr. Buffett and Mr. Jain, at Mr. Buffetts office, going like this : Mr. Jain : "Warren, I need you to get rid of the railroad on my shoulders! I don't want it it, nor do I need it!. It has nothing to do with what my folks are doing every day." Mr. Buffett : "Ajit, OK, OK, I'll ask Marc to look into it, and then I'll get back to you about what's doable about it!". What about taxes on dividends here?

Bloomberg - BusinessWeek Finance [October 4th 2023] : European Real Estate Faces New Pressure as Property Funds Wobble. Explanation of a French OPCI : Primonial Reim France : What is an OPCI: how does it work? Geez - How lame is that? A legal entity for real estate investment for the unexperienced investor lingering between buying real estate or stock market investments, setup as a sort of open ended fund with no permanent capital - for real estate investments?! -Personally, I think the abbreviation for such creature should be changed to : CPE in stead of OPCI, where CPE stands for "Construit Pour Exploser". I just checked the minimum number of French idiots : It's 349 + 577 [349 members of the upper chamber called the Senate and 577 for the lower camber called the National Assembly] = 926.

@bizaro86, - That map explains very well the difference in size between Denmark and Canada. I just checked it up : Canada population ~ 38.8 million , Denmark ~ 5.9 million, in meaning factor size 6.6 : 1. Canada is simply in reality so vast, with most of its population living near the US border, and Canada being worlds second largest coutry by area, only surpassed by Russia.

At least partly related to the discussion going on in this topic: Bloomberg - CityLab Housing [September 28th 2023] : These Island Homes Were an Affordable Dream – Until Residents Started to Age. I've never heard about the place Toronto Islands before. To me, strange to read about such a place in existence for so many years so near the center of such a city as big as Toronto. The line of thinking among the elderly in this subsociety is to me flawed in a serious degree. You have no right to regret your own decisions on this matter earlier in life to move in. That was namely inverted delayed gratification, because the saved housing expenses by living there hasen't been set aside and saved in an investment scheme, but has been consumed on a running basis while housing costs has been low while living in this community. When you remove your fingers from the piece in Chess the table captures the piece.

Agreed, +1! 'Have a great weekend' to you all here on CoBF, and thank you, -for being you.

Thank you all for reading my post about RI.PA as a reply to @Spekulatius exactly as it was meant, and thereby generating some friendly talk and banter here on CoBF! @dealraker posting about having a good time with good friends on the porch just near by, and with a view to the lake, just south of Lexington, NC. I suppose the autumn colors are in the crowns of the trees by now. Here, just like everywhere in the Northern hemisphire, we have just passed autumnal equinox by a week, and the clock here is now 22:45. It has been black night for a whole hour now, and I just hate it. 6 - 7 weeks ago we had light in the horizon to the north, generating light nights. Now totally gone. Tomorrow we are bound to leave the best September month ever to the best of my recollection with regard to rain, sun and temperatures. But all that is because of the Gulf Stream. @RedLion, congrats on your new Maui acqusition!

Certainly interesting. I wonder if market participants are sobering up. ... I mean I don't think we have seen any pics of CoBF members friday afternoon shopping cart contents lately, so everybody in the industry are putting robes in their sails, reducing credit times for customers, reducing sizes of inventories, looking with a comb on staffing, and trowing a critical view on the base of fixed costs.

The Guardian [September 26th 2023] : Key details behind Nord Stream pipeline blasts revealed by scientists. Key details behind Nord Stream pipeline blasts revealed by scientists.

@Luca, I just stopped at the 4:14 mark in the video posted by you with the interview of Prof. John J. Meirshaimer. That was to me enough. He is a Ph. D. and all that kind of fine stuff, but he's nothing but an highly edudated idiot. Advocating a view the NATO secretary general Jens Stoltenberg is the 'real agressor' here, 'teasing Russia'. It's just so f***ing lame! Utter *BS*! 1. How about what the people of Ukraine want? 2. Does the people of Ukraine actually deliver by themselves, under the armed conflict, simply by fighting back, to the best of the abilities of the people? Please give me a break.

Thanks, Sanjeev [ @Parsad ], Marlin was a person of few words and posts here on CoBF, when he was active years ago. He mentioned once Mr. Kilpatrick had a website with a link to it, too. It's now gone. Maybe one day I'll try to send an e-mail to Mr. Kilpatrick asking my questions.

@WayWardCloud, @Cod Liver Oil & @Dinar, To that part already mentioned about the ramp-up in munitions you have to add the judged effects of a lot of military ramping-up in European countries that are NATO members spending less than 2 percent of state budget on defence by now. Just look up a list of worlds largest defense contractors, and think about who has the stuff in their product catalog that is in demand. None of these countries want MIGs [for obvious reasons ], they all want something called F-##. In general, I think it's a in general a fairly correct statement that the US defense contractors are the preferred suppliers in many cases. I'm personally under similar investment restrictions as @WayWardCloud, set by the Lady of the House, btw. It's OK with me, I don't miss this to mess around with, also.

DST [Danmarks Statistik - The Danish Statistical Department] : Theme - Invasion of Ukraine . Ufortunately, the graphs break, if I try to give it a spin in Google Translate, translating the webpage to English. This text in Danish : translates to the following in English : This text in Danish : translates to the following in English :

I'm reading Roger Lowenstein : 'When genius failed - The rise and fall of Long-Term Capital Management" as leisure reading right now. I have to say, that it's just awesome! Very entertaining! - Basically, it about what do you get when you combine academia and Wall Street [, here, please note with a label / goods declaration : Guarantied without / free of "reason" / "sound judgement" [for the sake of the climate, it would be called to day, I think]]. It is about when extreme ambitions and greed, combined with being delusional about the circle of competence creates, karma, hubris and nemesis. I recommend the book if you want a dose of this.