John Hjorth

Thank you, Doc, However, your post does not change, that I'm deeply & seriously worried about how this situation evolves locally, regional, national etc. Does this "jump" [back, & mutated] from minks to homo sapiens imply, that this may [in worst case] mean another wave of SARS-CoV-2 [v2]? - A pandemic v2 as a layer on v1?, [- v2 timely delayed compared to v1?] [As if things weren't already screwed up, dearly?!]

Yesterday, the Danish people got informed by the Danish government, that a mutant variety of SARS-CoV-2 has "jumped" [back again, to human beings] from minks to human beings [mutated] in the northern part of Jutland. The Danish government has decided yesterday to cull all Danish mink stock [included non-infected breeding stock]. I'm [as a layman] in no way sure, that I understand the implications of this decision. [My immediate thought is that this is a wrong decision.] What do you think, & why?

Cardboard now on my ignore list ... [again!]

BG2008, I suppose your issue at hand is about a missing LEI code. Wikipedia : Legal Entity Identifier. I'm assuming here that your account at Interactive Brokers is a "professional" account [account for some kind of legal entity, in the Wikipedia article described as accounts for "... non-individual participants in the financial markets ..."]. My assumption may be wrong though.

Sharperdigaan, What's your source for posting this?

Viking and Spekulatius are right, Unfortunately, it's the concerning and depressing truth about many places. People in general are so incredible dumb with regard to "dancing with the virus" [, phrased well aware of the citizens of some countries do not have living conditions to "dance"]. There seem to be empiric evidence in available data for Denmark that the behavior of the youth seems to be the problem right now. My PM Mette Frederiksen will very likely announce new restrictions less than 30 minutes from now. What a screw up.

Buckeye, Please go back to your hole [posted in a friendly way! [ : - ) ]. I'll do the same, when it happens [Not that I consider myself a "sinner" actively posting over time in the Politics Forum here on CoBF.].

shamelesscloner, Thank you for opening this new topic about this book. I'm certainly interested in the books, too - in English. I can't find an English version either. Perhaps it would be an idea to flag interest & demand for the book in English to the publisher.

The whole thing about inventories - [ and the related reporting to it] -is just soo a PITA [for everyone involved, management, internal accountants, auditors & investors etc.] In reality, nobody really knows [great opportunity for so called "helpers" to charge hours of work to get to the "true" [accounting] value].

I don't view it that way. FFH has had no shortage of places to allocate its capital (some have been good, some have been disappointing), but it has been chronically in need of more to fund its acquisitions, pay that annual divvy and to (not) repay debt. Prem's assertions about buybacks require a fundamental shift in corporate strategy, which is not an impossible outcome but as they say, I'm from Missouri. In contrast, BRK generates about $40b of cash from operations per year, and the investment portion of its SCFP and the cash balance sadly demonstrates a lack of opportunities to deploy that capital. So, FFH might be willing to initiate a long-term significant return of capital, but it is largely unable to do so without a drastic change in corporate strategy. BRK is *fully able* to return $20B per year, but is seemingly unwilling to do so. The outcome has been similar, but the underlying problem is quite different. I would not describe Prem's or Warren's statements as "aspirational" but rather as "disingenuous" in both cases. SJ Thank you to you both for replies, Xerxes & StubbleJumper, Somehow, the whole thing boils down to "hunger" [for returns] vs. risk awareness. [ ; - ) ] - If & when I start selling out of the [monster] Berkshire position owned by my family and I, I'll post about it here on CoBF - You'll likely get no better buying signal! [ ; - ) ]

Thanks for the quote, Xerxes, It basically says it all : The nightmare of being old [read : less time to act] and loaded with cash, and at the same time with an almost life long pledge to do what's best for the long term partners / co-shareholders for the future. There is to me, however, some comfort in that I could easily construct a worse nightmare for a nonagenarian person.

Thank you to Jeff for posting the link to the Reuters piece, Well, it has been possible - subject to market volume etc. - for some years now -because Berkshire has now held more than USD [120 B - 20 B] for a few years. - - - o 0 o - - - longinvestor, Naturally, it's OK to speculate away. However, what matters is what Mr. Buffett [or his successor] will do in the future [The difference between "saying" and "actually doing" - especially ref. the post by XerXes [, though giving credit to "Not a prediction but just to state that..."]]. The Berkshire buyback discussion has been going here on CoBF for now years - nobody here on CoBF has cracked the code [as far as I understand things from reading CoBF]. - - - o 0 o - - - In short : "Buffett hot air".

Xerxes, What's your source for that particular USD 100 B number? [ I don't recall having read or heard of it it anywhere.] Facts : 2017: Net cash flow from operating activities : USD 45.728 B Net cash flow from investing activities : USD -41.009 B Net cash flow from financing activities : USD -1.398 B 2018 : Net cash flow from operating activities : USD 37.400 B Net cash flow from investing activities : USD -32.894 B Net cash flow from financing activities : USD 5.812 B 2019 : Net cash flow from operating activities : USD 38.687 B Net cash flow from investing activities : USD -5.621 B Net cash flow from financing activities : USD 0.730 B 2020H1 : Net cash flow from operating activities : USD 17.466 B Net cash flow from investing activities : USD -42.551 B Net cash flow from financing activities : USD -2.820 B - - - o 0 o - - - So, - in short -, if Mr. Buffett at some time said so, he was at that time misguiding the reader / listener, [because he was misleading the reader / listener into mental projections & regressions] - He does not even know what he will do personally within the next twelve months! [- & btw, That does not rule out, that Mr. Buffett may have said something in the lines of what you posted.]

kh812000, Source?

Thank you for your post & link, cobafdek, However, the content of the link is not in any way Trump-related.

It's great move, Speculatius, Because HII is not a business, it's a scheme [with a ticker, though] to suck up funds from the US military budget to keep people meaningless employed.

To me, it's a bit funny! [ : - ) ], "Buy American! - I do!!" [Coke [Coca Cola] & McD burgers in steady streams ... - Even buying breakfast at McD?!]

Well, in the shareholder letter to Berkshire Hathaway shareholders, included in the 2019 Berkshire Annual Report, I find the following on p. 14 [mentioned by gfp earlier here on CoBF]: So, I assume, no trading desk available at Berkshire, for buyers.

I like to read your stuff, Greg. Interesting times. -Please keep your posts coming.

Pretty much chaos at Berkshire HQ, -I wonder what the talks are about at those [was it] tuesday lunches [with the CIOs]?

Anyone know how Kraven is doing? I was just thinking about him earlier today. I was re-reading some quant stuff which led me to some antitrust legal canon concerning how Porter's Five Forces is basically bunk. I had a similar personal realization with M. Gladwell's stuff. I think my journey toward quant-esque investing has been probably kind of similar to his. I dont think I was here while he was an active poster, but we exchanged messages a little bit ago. He can chime in if he's still following but the gist was similar to what a lot of us have acknowledged the past few years. There is not a ton of unique investment related discussion here, and the investment related discussion that does take place, is often in the same trite names and largely an echo chamber...BRK, FFH, etc. The mere concept of anchoring to the past.

Cigarbutt, Ref. this quoted post of yours, and the chart in your last post [where Denmark is charted, too], right now [started at 15:00 hours local time] there is a Police Press Conference on the Danish News Channel called TV2 News. The whole ting reminds me about a doctor [i think he was american], stating some time ago, that he was fighting on two flanks : 1. The virus 2. The ignorance and the reckless stupidity of the population [, generally speaking]. - - - o 0 o - - - Personally, I've lost all faith & hope in a definitive solution to this situation without a vaccine [, though I still hope I'm wrong].

Thank you for your last post, and thereby reminding me, Investor20, Here up in northern Europe [Denmark], we're now gradually entering what I call "the dark season" [which I simply hate!]. I've now put purchase of Vitamin D on my TO-DO list for Monday. [i don't know if the Lady of the House and I are in a state of Vitamin D deficiency or not - No need to challenge the fate.] Disclosure : I've had two post signatures over the years here on CoBF. The first one, until I switched to the incumbent a few years ago, was : "Don't worry about getting old - It doesn't last that long." [Needless to say, that I'm happy for the switch back then today! [ ; - D]].

I can't help quoting SharperDingaan here, Screening the markets for cheap stocks can't hurt, until one engage. From a long perspective [, all kinds of financial instruments omitted here], losses are created by buying, gains are created by holding or selling. It's not that hard to explain basically - a good deal harder to practice.

Does it even matter? Please stay faithful to your personal process!