John Hjorth

Father’s Day and Memorial Day. Mind boggling, to say the least. I speculate Dustin Kruger & David Dunning are on the think bench for a design of an empirical test, for a part two, Corona-related. Edit: Not in any way meant as a snide comment towards James!

I agree with rb. Furthermore, Investor20 posted a link to an empirical study, where antibodies appeared to fade away within about a few months. The head of the Swedish Health Authority, Mr. Tegnell, yesterday publicly expressed concerns & second thoughts about the Swedish pandemic strategy, btw. [Ref. the Swedish situation has been touched recently in this topic.] Personally, I'm very happy today, that my ticket in the ovarial lottery turned out to be Danish. - - - o 0 o - - - In short : Don't challenge your own fate by trying to mess around with this sucker. [Also, I think that this is what Greg all the time has been expressing in his posts.]

Why? ... ... You can only try to hide from reality for so long... Honestly, to me a pretty mind boggling thought exchange here on CoBF. [i want data!, m0re & m00re data! - It doesn't in that context matter what I've already got!] It's all about reading the script [already written! - so far!] on the Wall! [to move on, to "take it from here", to adopt, adapt & improve!]

Berkshire Hathaway Hold. Co. costs : 2019 : USD 0.122 B [1] 2018 : USD 0.216 B [1] 2017 : USD 0.159 B [1] 2016 : USD 0.080 B [2] 2015 : USD 0.073 B [2] 2014 : USD -0.001 B [2] [<- ? [ 0_0]] 2013 : USD 0.094 B [3] 2012 : USD 0.133 B [3] 2011 : USD 0.196 B [3] - - - o 0 o - - - Sources : [1] : Berkshire 2019 Annual Report , p. K-114, [2] : Berkshire 2016 10-K, p. 112, & [3] : Berkshire 2013 10-K, p. 108.

Here we go! [Non-US [residents & tax payers] left aside [My family and I are in that turf].]

lol! [i actually knew in advance, that exactly a [neutral] link from gfp would be the outcome of this discussion! [ : - D ]]. -Thank you, gfp. - - - o 0 o - - - Edit : Talk to me about being in control of your sh!te!

+1 - I tried the exact same exercise today before posting my last post! - By my recollection, it was a Berkshire Press Release, issued with Mr. Hamburg as the sole signatory [, however I couldn't find it today - I will eventually dig it up and post a link to it here]. - - - o 0 o - - - It's all about "tax drag" & Hold Co. costs.

Income taxes paid by Berkshire Hathaway [the parent] during the last nine years : 2019 : USD 3.531 B [1] 2018 : USD 2.790 B [1] 2017 : USD 2.076 B [1] 2016 : USD 3.583 B [2] 2015 : USD 3.180 B [2] 2014 : USD 2.512 B [2] 2013 : USD 4.080 B [3] 2012 : USD 3.406 B [3] 2011 : USD 1.882 B [3] - - - o 0 o - - - Sources : [1] : Berkshire 2019 Annual Report , p. K-115, [2] : Berkshire 2016 10-K, p. 113, & [3] : Berkshire 2013 10-K, p. 109.

Max, Where do you see these taxes? [At least since '67]?

Why is there shouting in the topic title? [it's to me soo frigging annoying].- Please edit.

aryadhana, A very belated welcome to you here on CoBF! [ : - ) ] [Our paths here on CoBF haven't crossed, until now ...] - - - o 0 o - - - What do you mean by : "... It seems remarkably tax inefficient to hold equities that don't serve any operating purpose ..."?

navmehta, gfp has been around here at CoBF now for more than ten years. gfp has never been involved [at least to my knowledge] in any [heated?] conversation here on CoBF. To me, gfp always posts facts [based on ""on the ground" basic work" [which over the years has been a lot of valuable sharing!], sometimes spiced with a bit of a personal [forward looking] opinion & judgement - but never any kind of sarcasm.

Here is another one posted today by Wish_ram [ ; - D ]:

Posted by Mike [boilermaker] here : That would be the first time ever I've seen Mike buying puts on something [so far, I've only seen Mike selling them, primarily on Berkshire, I think!] - Buying books in excess of reading capacity, reading plans and known reading patterns is a special kind of buying puts and - in a way - also hoarding, based on fear of going down on unread books! It's also the build of a margin of safety & a certain kind of wearing both belt and suspenders! [ ; - D ]

Thank you for the explanation and elaboration, rb, -Great "flyer" & "teaser"! - I'm personally quite heavy [still!] in three of the four major US Banks [JPM, BAC & C]. BAC has been a great investment for me so far over many years, all the way back to "the early days" for me. [i'm now almost 8 years into this non-zero sum game called investing.] I have had a good experience over some years with WFC, too, but exited about one year after the account scandal surfaced [i think it was about about one year, I haven't checked it while posting this] - I couldn't stomach the hair on WFC back then. That basket of three US banks is still a large position for me - and then I have to add on a look-through basis what I own indirectly through my monster position in Berkshire. Some days I actually think I must be out of my friggin' mind doing this. I can't stomach more shares in US banks as of now because of the overall actual situation in USA. I think I'll start taking a look at all the major Canadian banks on a cursory level, trying to take some notes about them individually, and get some understanding of their history and evolution individually, plus doing some reading to understand on overall level the Canadian economy. It's a great exercise to study great companies, whether one engage in them or not [, based on price etc.].

The really bad news of today : Reuters [July 18th 2020] : Rouhani says 25 million Iranians may have been infected with coronavirus.

Related to Greg's last post : The Conversation [July 13th 2020] : Your coping and resilience strategies might need to shift as the COVID-19 crisis continues.

I've searched the Investment Ideas forum, and TD does not pop up in my searches. Why is it so? [i remember posts from CorpRaider and Uccmal about Canadian banks here on CoBF.]

Copied from the "Corona Virus" topic - today [perhaps grabbing it out of context, - one never really know] : Members here at CoBF goes by their handle, or what ever - over time - is available - here on CoBF. Jeff, Amazing to receive a personal & private message from you, about to find & gain focus & strength, exactly when it was most needed. Now I revert exactly the same message to you, that you've send to me. Take care.

Why did you sell BAM in the first place? I sold along with BX towards the end of last year because I just didnt like the risk/reward anymore. For myself, I'll never be the guy to find the accounting errors or shenanigans with companies of this type of complexity, so position sizing and awareness of where we are at least perceived to be, in the cycle is important. I still find the risk to be quite high, but I think we are starting to get a decent idea of where/how the current situation can play out, and without question, players like BAM, SPG, BX have both the expertise, and finial strength, to become large benefactors of such opportunities. So I'd say the risk is probably the same, maybe even a bit higher than 6 months ago, but at the same time, the opportunity for reward over a medium duration time horizon has increased significantly. Absolutely awesome post, Greg, Food for thought.

In short, as an european CoBF member, it's just soo frigging sad - really heart-breaking - to observe what's going on COVID-19 related in USA.

Georgia in 2020.... when you're trying to be dumber than Alabama. The people of Georgia got what the people of Georgia voted for. So is democracy.

I'm sorry for double posting. To me, this is soo funny, posted by BG2008 in the PSH topic : Please don't try to tell me that there is not always something to do.

As much as a $700 cordless Dyson Torque This is a deeply philosophical question that scholars have not nearly contemplated enough. Well, I just have to say that I consider it a privilege to have such fellow members as co-members here on CoBF in this environment! [ : - D]

Q [ref. the topic title]: If it sucks, does that make you a sucker?