John Hjorth

Reuters - World, Greenland / Denmark [September 24th 2025] : Denmark's PM apologises in person to Greenland women over forced contraception - - - o 0 o - - - Wikipedia : Spiral Case Absolutely gruesome, horrifying, creepy and crazy story. A total disgrace for Denmark [, here understood as Southern Denmark], and a dark chapter in the whole history of [Southern] Danish and Greenlandic relations. There is a lot to make up for here. The apology opens up for a waterfall of litigation against the Danish State, and honestly, so it should be. These interventions performed by Southern Danish Doctors in Greeland all with medical degrees, but obiously without oxygen supply to their brains functioning, totally brain dead. Estimated number of Greenlandic girls involved here : Around ~4,000. It's has been a weird and nauseating experience to see TV clips from then with such doctors talking totally openly about what they were doing, no remorse, no reflextions, just doing what somebody in [Southern] Denmark, has decided and told them to do.

Thank you! & awesome! , @Grafter!

Bloomberg - Industries, Transportation [September 22nd 2025] : Copenhagen, Oslo Airports Close After Several Drones Sighted - - - o 0 o - - - Total havoc in Copenhagen related to it yesterday. Russian hybrid / shadow war

Hi Egon [ @EgonKuhn ], Greetings from Denmark to the stubborn grumpy Germans in the South and you! lol! Yeah, it will certainly be interesting how this is going to play out!

Yes, @Spekulatius, !

Embassy of the Russian Federation in the Kingdom of Denmark - News [September 17 2025] : Commentary by the Russian Ambassador to Denmark Vladimir Barbin to Danish media on the Danish government's decision to purchase offensive high-precision long-range weapons 'The justification given by Prime Minister M. Frederiksen and Minister of Defense T. Lund Poulsen of the need for high-precision long-range weapons to attack targets in Russia is pure madness. No one, anywhere, ever in the world has considered publicly threatening a nuclear power. These statements will undoubtedly be taken into account. From now on, we must assume that Denmark is not only considering the possibility of a direct military confrontation with Russia, but is also preparing for such a scenario.' - - - o 0 o - - - *Shrug* + LOL! - - - o 0 o - - - - - - o 0 o - - - Wikipedia : Vladimir Barbin '... On February 10, 2022, two weeks before Russia's 2022 invasion of Ukraine , he assured that Russia would not attack Ukraine and said that the Russian buildup of forces around Ukraine was done to prevent tensions in the area and prevent instability "on Russian territory". [ 6 ] ...' - - - o 0 o - - - Just throw him out of here!

Bloomberg - News [September 22nd 2025] : Poland Threatens to Down Russian Jets Crossing Its Borders

Bloomberg - Pursuits [September 22nd 2025] : L’Oréal Only Interested in Armani’s Profitable Beauty Business Takeaways : L'Oréal SA would only be interested in Giorgio Armani's profitable beauty arm, according to a person familiar with the matter. Giorgio Armani's will cited L'Oréal, LVMH Moët Hennessy Louis Vuitton SE, and EssilorLuxottica SA as preferred bidders for an initial stake sale of 15% in Giorgio Armani SpA. L'Oréal will assess the Armani sale process but will stick to its core beauty strategy, and has a license with Armani to market its fragrance, makeup and skincare products until 2050. - - - o 0 o - - - Personally, I don't think the business will be broken up by the estate in the sales process. Let's see. - - - o 0 o - - - [Reaching out to @EgonKuhn.]

Episode chapters according to YouTube comments : (00:00) Intro by Eddie (00:53) Catching up with Oddbjørn (01:42) Adnan’s journey into investing (05:10)Overview of The Compounders (06:43) The writing process of the book (08:24) Core principles of compounding (10:10) Serial acquirers vs Compounders (12:18) Metaphor of the African Tree (13:35) Selection of the nine companies in the book (18:39) Surprises during the writing process (21:36) What to avoid (25:17) Long-term survival (27:29) Organic growth (30:41) Investment Philosophy of REQ (32:18) Corporate Governance’s role (34:05) How much should you pay for exceptional companies? (36:00) Building conviction (38:44) Humility as investors (40:51) Avoiding overconfident operators (41:59) Frugality and motivation (44:15) REQ to start a compounder? (45:21) Book recommendations (46:59) Daily life as fund managers (49:27) New book projects? (50:13) Concluding remarks

From the author, Morgan Housel, himself, about the book soon to be released : Collaborative Fund Blog [September 3rd 2025] : Morgan Housel : My New Book: The Art of Spending Money : 'Investor Chris Davis – who serves on the board of Berkshire Hathaway and Coca-Cola – says, it’s “not so much a sequel as the masterful, Oscar-worthy completion of” my first book, The Psychology of Money. I wrote this book because I found there to be too much advice on building wealth but almost none on what to do with it. This book is not called The Science of Spending Money because I don’t think such a thing exists. I’m more interested in the art of spending money. Art can’t be distilled into a one-size-fits all formula. Art is complicated, often contradictory, and covers things like individuality, greed, jealousy, status, and regret. That’s what this book is about. Now, I think you can use money to build a better life. I think buying nice stuff can bring you joy. I love ambition, hard work, and – most of all – independence. But after writing about money for two decades, I am constantly amazed at how bad most of us are at knowing what we want out of money, or how to use it as anything more than a benchmark of status and success. I try to tackle the art of spending money from several angles. But you’ll find a few common denominators in this book: 1. There are two ways to use money. One is as a tool to live a better life. The other is as a yardstick of status to measure yourself against others. Many people aspire for the former but spend their life chasing the latter. 2. Money is a tool you can use. But if you’re not careful, it will use you. It will use you without mercy, and often without you even knowing it. For many people, money is a financial asset but a psychological liability. Blind lust for more can hijack your identity, control your personality, and wedge out parts of your life that bring greater happiness. 3. Spending money can buy happiness, but it’s often an indirect path. Money itself doesn’t buy happiness, but it can help you find independence and purpose – both key ingredients for a happier life if you cultivate them. A big, nice house might make you happier, but mostly because it makes it easier to have friends and family over, and the friends and family are actually what are making you happy. 4. Enduring happiness is found in contentment, so those happiest with money tend to be those who have found a way to stop thinking about it. You can value it, appreciate it, even marvel at it. But if money never leaves your mind it’s likely you’ve found yourself with an obsession, where it controls you. The best use of money is as a tool to leverage who you are, but never to define who you are. 5. If you’re confused about what a better life would look like, “one with more money” is an easy assumption. But that can sometimes mask deeper problems. Money is so tangible that it’s an easy goal to strive for, and pursuing it can become the path of least resistance for those who haven’t discovered what truly feeds their soul. 6. Everyone can spend money in a way that will make them happier. But there is no universal formula on how to do it. The nice stuff that makes me happy might seem crazy to you, and vice versa. Debates over what kind of lifestyle you should live are often just people with different personalities talking over each other. Author Luke Burgis puts it another way: “After meeting our basic needs as creatures, we enter into the human universe of desire. And knowing what to want is much harder than knowing what to need.” The book comes out October 7th. I hope you enjoy reading it.' - - - o 0 o - - - Also : YouTube : Morgan Housel [April 7th 2024] : The Morgan Housel Podcast, Episode 1: The Art of Spending Money Personally, I have today leisurely enjoyed listening to this podcast episode. I personally think it's very good. - - - o 0 o - - - Edit : A reach out here to especially @Jaygo and @no_free_lunch with the sincerest and most well ment, non-patronizing and non-condecending intentions, and absolutely nobody else here on CofB&F forgotten, that may have chosen to share their thoughts, approaches etc. related the matter at hand here, incluing generational planning. There are many!

It will be interesting to see if a CofB&F member living outside USA will grab the opportunity here to start a topic in the General Discussion forum named 'Is USA becoming uninvestable' - - - o 0 o - - - From a tax law perspective it is a tax on a cost related to the wages and salaries to a certain group of employeés in US businesses. Well, I have here In Denmark seen something similar, but madness and stupidity luckily always tend to be short lived, after which reason tends to prevail. A couple of examples : 1. Under the Potato Cure the Danish parlament imposed a 20 per cent tax of all personal interest expenses related to debt from consumption. I'm sure you can imagine and have an idea about how many societal, social and other kinds of severe problems this tax caused, i.e. by hitting poor and weak citizens, just causing new problems, or amplifying others. 2. Just after the GFC the Danish parlament imposed a special tax on banks and their loan losses provided and expensed, charged in their income statements. [Punishing those mother***er suits with silly fines, best mobster style, lol!], all while the already severely tested and totally innocent bank shareholders as spectators to the whole circus could do nothing but just sigh once again!, knowing they were again picking up the tap for the party.

TV2 News - nyheder.tv2.dk [September 17th 2025] : Today's overview: Denmark must have longer-range precision weapons

Yeah, @Spekulatius, And 'talks' simply doesen't do the trick any longer here among NATO countries. - - - o 0 o - - - Meanwhile [,'talks' :] : Republic of Estonia Government - walitsus.ee [September 19th 2025, 21:09] : Estonian Government to request NATO Article 4 consultations Subtitle : Stenbock House, 19 September 2025 - At today’s security cabinet meeting, the Government of the Republic of Estonia decided, on the proposal of the Minister of Foreign Affairs, to request NATO Article 4 consultations following the incursion of three Russian Mig-31 fighter aircrafs into Estonian airspace this morning. - - - o 0 o - - - Observation : The three Russian MIG-31s were not at any time during the incursion over Estonian land, only over Estonian waters. A thought related to that : 'Likely difficult [at least cumbersome] to prove where someone took them out of the sky, if not done over land' - - - o 0 o - - - Edit : Furthermore : Reuters [September 20th 2025] : Russian jets enter Estonia's airspace in latest test for NATO Summary : Estonia reports unprecedented airspace violation by Russian jets Incident follows recent Russian drone incursions into Polish airspace Estonia wants consultations under NATO's Article 4 Trump says: 'Could be big trouble' Russia denies violation, says jets flew over neutral waters - - - o 0 o - - - Putin does as he see fit - there is nobody there [in Russia] left to deliver push-back, to counter, nor to challenge him [a while since someone fell out of a window, or got poisoned]. Only Bill Browder and Mikhail Khodorkovsky outside Russia to be vocal at times.

That said here, @Cod Liver Oil Thursday introduced in the Exor topic in the Investment Ideas forum Thursday the concept of a 'compost pile' [ link : here]. It's just great! I'm still laughing!

Please go to the BOL.PA - Bolloré topic in the Investment Ideas forum for this discussion, so this valuable discussion about BOL.PA specifically isen't lost and burried here in this topic.

<Couch moderating begin> Please post such stuff in the 'What are you buying today' CofB&F topic, because those posts above aren't really contributing to the discussion about 'Dynastic European Companies'. <Couch moderating end> -And please leave me out of it!, - my weekend started 50 minutes ago!

Investing by the Book Podcast by Redeye [September 18th 2025] : #75 Adnan Hadžiefendić & Oddbjørn Dybvad: The Compounders YouTube : Investing by the Book by Redeye [September 18th 2025] : #75 Adnan Hadžiefendić & Oddbjørn Dybvad: The Compounders

The Danish Minstry of Defense [September 17th 2025] : The government clearly states: Denmark must have longer-range precision weapons in the future. Subtitle : Based on the military expert recommendation of the Chief of Defence, the government has made a decision in principle that Denmark must have longer-range precision weapons with a view to strengthening Denmark's national and NATO's and allies' collective deterrence. - - - o 0 o - - - These weapon systems have nothing to do with defence. They are counter-attack systems. Think Sct. Petersburg and Moscow.

Yeah, @73 Reds, It happens things get a bit heated. I myself, have, years back, from time to time been a really a**hole here on CofB&F, when I've got angry. Even Sanjeev [ @Parsad ] contacting me directly p2p about it! [<- Then you're really in trouble! lol!] It's just not worth it, to get carried away over politics, for any of us [our lives are too short for that]. Count to 10 before starting replying if worked up, -if that does not suffice, leave the keyboard, or the topic, and visit again after a nights sleep. - - - o 0 o - - - Personally, I really appreciate that we have this topic at our disposal, if we stay within some lines. I've learned a lot [tons!] from it, about CofB&F members, other cultures and countries.

It got a bit heated between Sanjeev [ @Parsad ] and Mike [ @cubsfan ], where Sanjeev in total handed out 2x24 hours ban to Mike [ @cubsfan ]. This morning my local time I was checking Mike last time online last Friday late, so ban over several days ago, and I just saw this : So, I suppose, just give Mike the time he needs to get back.

YouTube - Ranking Royals [September 9th 2025] : Europe's Wealthiest Nations YT commentary : The Wealthiest European Nations from 1962 to 2024 (Current US$). Europe saw a 45% increase in average wealth in the last decade. The core countries (Germany, France, the UK, and Italy) account for over 70% of Europe’s total net wealth, though smaller nations have far higher per-capita wealth. Smaller states with specialized economies achieve higher per-capita wealth than larger, industrialized nations. Nordic and Alpine states consistently report strong growth, resilience, and innovation-driven prosperity. This Video Shows the wealthiest European Nations from 1962 to 2024 by GDP per capita. - - - o 0 o - - - I personally think this supports very well, that the European countries are indeed a very diverse bunch of countries, that it would likely be a mistake to assess and judge as a whole, in one big bunch, or basket.

Here it happened to me again: It's starts as a tiny chuckle, gradually evolving into an uncontrollable full-blown laughter based in the gut area!

@thowed, There is really no need of using this kind of adjectives like 'rather schizophrenic' about your own decisions, doings, modus operandi and portfolio allocations, because the only person who knows what is the right thing to do for you is ... you. - - - o 0 o - - - You are the only person here on CofB&F with sufficient knowledge about your [very] personal and private situation, and to decide what you want to share about that.

@Grafter, Please add Kjetil Nyland and Adnan Hadziefendic as co-authors in this topics topic title, thank you in advance.

Minister of Justice Peter Hummelgaard is a deranged, stupid socialdemocrat, like so many other idiots, that there are everywhere in Politics, also in Danish Politics. He is seeking attention, because Danish Politicans have started warming up for next election. This has no bearing inside the two other parties participating in the Danish government, Moderaterne and Venstre. So down the drain it goes, also because legal experts find it more than problematic. So, just a so no-go.