John Hjorth

Take a look at Nordic financial institutions. Some of them are turning into money machines in this interest rate environment [, and some don't, as always], after they have been in the doghouse and under extreme regulation for a long time by the respective national FSAs ["No - don't kiss that customer!"] in the years since the GFC.

Added to BN [using proceeds from sale of all BAM shares today and basically all available liquidity]. So, back to being fully invested again.

Sold all BAM shares today [all out], to buy BN using the proceeds + liquidity].

AJG seems to be a shameless tax speculator [, said the the guy who is a reasonable happy camper in a company obtaining USD 2.187 B for 2022 in tax credits related to power production by wind and investments in affordable housing].

To be strictly precise, the dividends from BNSF are not going to Berkshire [the parent], but to National Indemnity [NICO], which is the owner of BNSF.

Somehow this post by @dealraker hit a nerve by me. Suddenly it hit me - like a cub over my head - how convient investing in Berkshire actually is for the long term. [Please read : How convenient I am!] Investing in conglomerates provide you the opportunity to participate in "creative destruction", ref. Joseph Schlumpeter [and ref. the mentioning in the shareholder letter], while also providing you with option - when things goes wrong & south [perhaps dearly] with a certain investment in the conglomerate, which again provides the opportunity to claim here : "I'm not the dork here, the CEO [of the conglomerate] is." [unless one decide to fire that CEO by offloading the position, that is].

The yearly shareholder letters have become shorter and shorter during the last few years for each year passing, yes. However, I think Mr. Buffett has served his service, and has done it very well over time [, like in : over now many years].

@gfp, Ravi is a hell of guy, and a sworn-in & card holding Berkaholic like you and me, absolutely incredible what kind and amount of work he has shared with everyone interested in it, including me, now since 2009, on his website. The BNSF dividend numbers discussed above are simply mind boggling. Absolutely incredible what can be achieved over time on the long haul with a business with perhaps not superstar ROE and ROIC, if the price one paid was about right, and it is given the sufficient time to work out and do its compounding magic, in the meantime operated efficiently. [linear thinking and thoughts vs. the concept of compounding over time]. Also here, it's about there are the right buyers and owners [and the opposite], when we talk about utilities, because of ones responsibility for it [as a piece of infrastructure of the society], the owner can't treat it at will. This is already covered elsewhere here on CoBF related to what has happened recently in the United States.

Pieces by Ravi Nagarajan about railroads : 1. Burlington Northern Santa Fe, & 2. Union Pacific Corporation .

Mike [ @cubsfan], Thank you for elaborating your personal position on this calamity here. Yes, simply put: Christ, how have we as Europeans screwed up on handling this matter over time, looking at the state of the mess as of now. It's indeed very hard to see a sustainable way forward through this whole mess. However the first step may be very clear for everyone: The loss of lives on both sides has to stop immediately, meaning now. If the opponent disagrees, remove him by use of deadly force, and based on simple logic. Some times it happens things just stinks: Until recently, I have been a fan of our former prime minister [In Danish : "Statsminister", translates to "state minister"] Anders Fogh Rasmussen [While PM, also head of EU under the expansion of EU to the east in 2003] [Link to speech : Never war in Europe again ], after those assignments, 2009 - 2014 Secretary General of NATO. And today : Why even think about i.e. letting a S&P500 company "disturb" in your doings, based on say - its international security matters - when you have the opportunity to bill [dearly] a state in stead, represented by Volodymyr Zelenskyy. [Please see Rasmussen Global]. [Here : Getting paid now trying fix own doings in the past?]

Mike [ @cubsfan], I think this is the most cynical post from you I've ever read so far from you here on CoBF. I sincerely hope you're not right. Personally, I think the determination among European states for this not to happen is greatly underrated. It is about our western way of life, based on basic values shared among others - here, among European people and people living in North America. Personally, I also think all my fellow american CoBF members could - and should - be proud to have the president you all have on a day like this with the awesome speech he gave today in Warsaw.

Obviously nothing new in that speech for those persons in your screenshot post, @Xerxes [ ], I specifically noted Alexey Miller, CEO of Gazprom PJSC, among the audience. Man, it's absolutely crazy what has happened to him and his appearance within very few years. 61 years old now and looks like something dragged in the front door by the cat. Perhaps it's lack of sleep related to that the shares in one of the most material Gazprom subs are posted as collateral for provided European financing of parts of the ongoing build-out of the Gazprom gas network, and the cash flow from operating the existing and operational pipeline network can't service the existing debt any longer. I haven't read as much as one piece anywhere about the above issue since the war started, by the way.

Amazing speech by Vladimir Putin on Danish TV, started today at 10:00 AM my local time, with simultaneous translation from Russian language. A wild experience. The persecuted innocent. And what to think about all all those promises to the Russian citizens - I think he only forgot to promise more tailwinds to all on Russian bicycle paths.

@Xerxes, Honestly, why is is it even relevant to quote something like this here on CoBF, where you can take as a given assumption that the individual members actually know what sh1te [<- @SharperDingaan phrasing!] they own. Mentioned here ref. @Gregmals post above. Bring it here only if it's also your personal position on the topic at hand , and you're willing to defend it under discussion.

Agreed, Jeff [ @DooDiligence ], I prefer calling it berkaholics. USD 206 M or USD 211 M, whatever, it's some serious money.

@gfp, The NEAM-thingy? Y related? -Or both?

@Gregmal, I'm not trying here to be mean or anything else, but I have to say the above actually reads funny to an accountant!

Yes, @gfp, Only position overlap appears to have been AAPL, V and Berkshire it self, - 170,800 B-shares. Likely those B-shares may have been considered bought back.

Sanjeev [ @Parsad], Perhaps, We may need a Macro Forum here on CoBF [, similar to Investing and Politics], too, for folks who think they may get rich [fast or slow] dealing with that matter a lot, to sort out the macro stuff and discussions related that. I think it's fair to say, some discussions are getting tiresome here.

@Jaygo, Please forget the past for triggering grievance and annoyance. It's counterproductive activity [except for non-emotional educational purposes], because none of us - including you - can't change the past. If you really feel a bit lost in your investing endeavour as of now, make the decision to look at it from here forward bound. I also think the various concepts covered in the following book could be tremendous help and support for you going forward: Morgan Housel : The Psychology of Money . [Many of the concepts covered in the book are embedded and ingrained in @dealrakers varius posts here on CoBF, as I see things.]

@mattee2264, To who is this message of yours directed, and to who does it matter? -We all just need to make specific judgements/assessments about potential expected returns relative to potential assumed risks for each potential investment case. There is always something to do, no matter the environment.

<No comment>.

Thank you for the elaboration, @Gregmal.

@Gregmal, What are you referring to here?

The German decision about the Leopard tanks are all over the place in the News Media today. I think this message from Pearson Engineering is important as well.