John Hjorth

Thank you for guidance, @Spekulatius, Much appreciated for my part personally. The line of thinking by Mr. Mayer is indeed very interesting. To me, he is GARPy, verging to the extremes. I.e. I can't imagine a by now realistic market price of EVO.STO, which Mr. Mayer already owns in reasonable quantities, that would cause me to engage. For him : No sweat [, while I'm turning the back to it.]. An other Swedish one is LIFCO_B.STO. - - - o 0 o - - - I think this "issue" is not only about temper, age, etc., but certainly also related to "hunger". However, I like reading the stuff produced by Mr. Mayer, alone because he is never a crank, never caused by swinging the wrong leg out of the f**cking bed first thing in the morning, after not getting lucky last night.

Thank you for your inputs here, @Spekulatius & @dealraker, As always, it's just great that you - as seasoned investors with lots of experience - actually have chosen to share to your personal experiences and personal findings / rationales etc. with other members here on CoBF, in stead of "just" keeping it for yourself, as the alternative option. It's an enormous privilege to have access to your line of thinking - over time - through your posts here on CoBF. This is actually not just about you two gents and your posts, but related to all contributing CoBF members. Nobody else mentioned here specifically, but certainly nobody forgotten. Thank you.

Thank you for sharing your view on the book, @giulio. Yes, as already mentioned by you, it's a reprint dated November 2014 in the Publisher's Note [first thing in the book] by Marchall Glickman, which among other things is about the original book being subject to scalping/speculation/mania [<-?] on amazon.com back then available as used / second hand item at USD 683 [<- !], mentioning it specific being the purpose for its reprint. That is to me an honorable and good deed.

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.