John Hjorth

Yes, @gfp, From the trading calender at my Investment Bank [in Danish, 'Lukket' translates to 'Closed', and 'Halv dag' translates to 'Half Day'] :

Here we go again, with great entertainment : https://truthsocial.com/@realDonaldTrump/posts/114776149269773065

Awesome exchange! I hope you still get kissed, @sleepydragon!

@brobro777, Carefully thought out posts here about NYC real estate prices, NYC taxes, and NYC rat sizes. Awesome, thank you!

Answer, for Berkshire : Its very best. If the implied risk profile, taking all kinds of things into consideration, management, structure, float, investments etc., every shareholder can reduce position, or sell the whole thing, incurring what are the actual consequences for each individual investor [taxes, if any, etc.]. Both the A and B share trades every day when NYSE is open.

Yeah, @gfp, 'Only' USD 30.6 billion in cash flow from operations last year - everything Berkshire is just headed towards hell nowadays. [j/k].

@schin, Here, for my part personally, only a partly answer from me to your question no. 2, and some general [and evasive?] comments related to your question no. 1. - - - o 0 o - - - Your question no. 1 : I don't know, really. And to me, that does not really matter. To, me, personaly, It's about his investment approach, and how he thinks about investing. His investment style is similar to the style applied by Christoffer Mayer [author of '100-baggers', intiated and described earlier by Thomas Phelps in '100 to 1 In the Stock Market']. It's likely a bit too risky to me, at least I personally consider it so. It's about things like i.e. fast moving, ferocious Swedish serial acquirers, with lots of debt and intangibles on group level, GARP investing on steroids. [I.e. Lifco AB and such, but not a thing like Storskogen AB]. Your question no. 2 : Oddbjørn Dybvad is quite mathematical in his thinking, expressed in his first book. That has a lot of appeal to me, as a guy who joined Business Economics [at [now] University of Southern Denmark, then Odense University], never reading a book, just always joining the lessons, listening intensely, the rest of the time, just working trying to keep up with wild personal comsumption, partying, chasing women, lots of booze in weekends, when ever there were an occation, with an obscene capital allocation to motorcycles, leaving the university first in class, being really sloth. The material part of my professors were Economics professors based on underlying math, which made the trick. Oddbjørn Dybvad is such a guy, too. It also does not harm in any way, that he p2p appears very pleasant and forthcoming.

Tremendous fun to wake up to on a Saturday morning! - - - o 0 o - - - Why not?

I ordered both classic Investors Antholigies, on Amazon today, at reasonable prices, I think.

I ordered this book today, based on the discussion in the topic here on CofB&F in the Books forum about : Good to Great - Jim Collins. Description at www.saxo.com : Decline can be avoided. Decline can be detected. Decline can be reversed. Amidst the desolate landscape of fallen great companies, Jim Collins began to wonder: How do the mighty fall? Can decline be detected early and avoided? How far can a company fall before the path toward doom becomes inevitable and unshakable? How can companies reverse course? In How the Mighty Fall, Collins confronts these questions, offering leaders the well-founded hope that they can learn how to stave off decline and, if they find themselves falling, reverse their course. Collins' research project-more than four years in duration-uncovered five step-wise stages of decline: Stage 1: Hubris Born of Success Stage 2: Undisciplined Pursuit of More Stage 3: Denial of Risk and Peril Stage 4: Grasping for Salvation Stage 5: Capitulation to Irrelevance or Death By understanding these stages of decline, leaders can substantially reduce their chances of falling all the way to the bottom. Great companies can stumble, badly, and recover. Every institution, no matter how great, is vulnerable to decline. There is no law of nature that the most powerful will inevitably remain at the top. Anyone can fall and most eventually do. But, as Collins' research emphasizes, some companies do indeed recover-in some cases, coming back even stronger-even after having crashed into the depths of Stage 4. Decline, it turns out, is largely self-inflicted, and the path to recovery lies largely within our own hands. We are not imprisoned by our circumstances, our history, or even our staggering defeats along the way. As long as we never get entirely knocked out of the game, hope always remains. The mighty can fall, but they can often rise again.

It's all so simple :

Yes, @LC, One of a few investments Mr. Buffett and Mr. Munger did not get roughly right. Berkshire even approached Unilever, too, at some time in point, where the initiative was turned down by the Unilever board of directors immedially.

Knowing there most times are some kind of 'catch' to get to understand Charlies [ @dealrakers] posts here on CofB&F - and the rash they contain, I, as a Dane, meticulously looked up the meaning of 'brown-out' - aannd got it! - lol! . - - - o 0 o - - - Certainly understandable, if a 79 year old man feels a bit worn out by being POTUS, the way he fills and stewards his position, his style.

Well said, @changegonnacome, No matter how impressive the American sting operation against Iranian nuclear facilities may appear from Hegseths and Caines elaborations, no tangible proof of resulting outcome was delivered under that meeting with the press. What is important to have in mind, is that this is what could be done from and via the air, without the use of American troops on Iranian soil. If USA eventually coulden't do it, nobody could, because no other country has the means to carry out such a thing. So all good, that it is now tried by USA. As I've posted before, the whole of Europe also can't live with a rogue state like Iran having nuclear weapons.

Sure, lol!, @Marco Van Basten, WYSIWYG : 'What You See Is What You Get' [from the MS launch of Windows], so it is also in democracies, no need for having pitty with the majority if an election outcome is considered a calamity, the majority got what it voted for, -the issue is for the minority!

The ol' $MS 'WYSIWYG' acronym comes to mind related to the New Yorkers.

Great, thank you for posting, @Grafter, I personally hope this book wil become available in a physical version, too.

On this Thursday, about 3½ hours before North American markets closing, I'm at about minus 6.7 per cent on total portfolio level, YTD, measured in my own [obscure] functional currency DKK, pegged to the EUR. USD/DKK for the the year 2025 : - - - o 0 o - - - In the early years, I paid a lot of attention to it. After finding out that to get some kind of control over it, by currency hedging activity, I now just *shrug*.

The basic underlying problem at its roots is actually the same as in Russia : The lack of a polical culture and a democratic minded population, not willing to do what is needed to get the will of the poplation, in stead giving up and in, and just going with the flow of what ever any thug or group of thugs is willing to offer to or take from the population. At best it will take two generations or so to fix it, certainly just not two decades. If it ever happens. The youth with the needed mindset mostly prefer to leave for greener grass and a better life somewhere else, in stead of risking live to catalyst change.

Bloomberg - Politics [June 25th 2025] : Trump Threatens to Double Tariffs on Spain Over NATO Spending Poor Spain got a NATO raincheck to sit something over on the bench without paying as others. POTUS did not agree, but diden't create chaos by blocking. So, now he is threatening Spain with separate tariffs to beat up the presumptuous for not complying with all others in NATO, while POTUS obviously still hasen't understood, that the EU is trade and tariff union, with a musketeer oath, so the whole EU will hit USA with same tariffs as what USA hits Spain with. The man is simply a complete ignorant and idiot.

Now that is funny.

The session just ended. The most interesting thing right now is, what will NATO actually do about releasing it? - Rutte must be cringing, by now!

It's so funny, -POTUS right now simply highjacking the NATO conclusion press conference, pretty much not talking about NATO stuff, simply just acting as if he is talking from the White House! -Me, ME, ME!

- And who even thinks the Iranians to tell the true state of things? Aljazeera - News [June 25 2025] : Iran’s Baghaei says nuclear installations ‘badly damaged’

That makes good sense, @whiskybravo, Thank you for sharing.