John Hjorth

More likely it will be called Corner of Berkshire Past. Fairfax has not done well. Berkshire after Buffett ... ??? Boston-Omaha is not something special and likely won't be. Tracy Co. - we'll see. A great mix of skeptisism for the future, rear mirror view on future outcomes [- at least to me -], and no trust or belief in the [very competent!] persons [perhaps, perhaps not!] younger than you . ... -Very much like me! [ : - ) ]

It reads to me like something smaller than the Swedish public listed Investor AB as a part of the whole Wallenberg sphere [market value right now at SEK ~361 B], but still active management, or perhaps like the Danish Schouw & Co A/S [just to keep it minor] : - - - o 0 o - - - Ambitions are the cradle of experiences.

cherzeca, Topic here.

Thank you for replying, Greg, and please accept my apology for a late reply here, You know I was cherry picking your original post, and so do I. With regard to your comments about fear, I was personally - years ago - one of those persons you describe. I jumped out of the closet now 7 years ago as a stock picker [to be precise, the date was September 12th 2012]. There were actually no real hurdles that stopped me from doing that at that particular date, apart from what was going on inside my head - in fact, I could have started in the spring of 2011 [1½ year before actual], if it was not about what was going on inside my head. - - - o 0 o - - - With regard to Mr. Jain & Mr. Abel, I consider them "fire fighters" [they now do all the unpleasant stuff, that Mr. Buffett really hates], at USD 18 M each! - Add to that that second floor at Farnam Street - HoldCo costs are exploding! [<- j/k] -They are [perhaps] the best paid firefighters ever, maybe the only one to smoke them in history is Red Adair. [i still remember from when I was young when he did his wonders at the Ekofisk Bravo O&G rig.] - - - o 0 o - - - And again : There is always something to mess around with, if one works bottom-up.

A value buy it seems as you got in before the spike to $100/ bro that’s some doomsters predict. I think it will be more like $2-5$/brl and quickly reverse. I doubt there much supply impact from the drone attack. FWIW, so many oil heated homes on the East coast. It would be a great green energy plan to have them all connected to natural gas. Off topic : I'm shocked reading this. Here, I've been living with district heating the last 35 years. I live in a Danish city [the fourth largest in Denmark, the approximate size the one of Omaha.] - - - o 0 o - - - Back to topic again.

It's true. I discussed it years ago with wachtwoord here on CoBF. To me, it's not going to happen as long as my father is still around. [My father is the last person still alive in the generation "above" the Lady of the House and I.] The time will come, eventually, after all the stuff related to settling my father's estate is done and cleared., to study the overall situation.

Some days I envy your tax situation on trading, Viking, explained by you - for your part - earlier here on CoBF. [ : - ) ]

Cigarbutt recently used the word "obscene" related to [almost] similar interest rate conditions here [for me] locally. It is what it is : Obscene. [ : - D ]

This. Thank you for sharing, wisowis. Chris Mayer bents it in neon tubes : -Buy, if you're interested &/or want to get in, -hold on, if you're at full position [for you], & do not sell here at these levels.

I will mention Market Screener here. Not totally up to matjone's requirements for historical data, but free, and you have to create an account. It has fairly good coverage outside North America.

Indeed, and already pointed out by Cardboard recently. There is always work to do.

Greg, To me, you've got this wrong. Why do you think that Mr. Jain & Mr. Abel are paid by Berkshire USD 18 M each annually [as far as we know, so far]? I mean : USD 18 M each for "delegation, bordering to abdication" [ref. Mr. Munger]? To me, it simply does not work that way anymore at Berkshire [and hasn't for a long time]. Yes, cyclicals are cyclicals, but then cyclicals aren't really all alike. I mean, there are stand-one-cyclicals, and then there are cyclicals-under-an-umbrella [, perhaps under the Berkshire-umbrella], and their operating conditions with regard to access to capital during a full cycle aren't nowhere near similar.

I wonder if we have experienced the last edition of this book? - It's now materially more than two years since last [major] edition.

Yes, interesting "out of powder"-comment related to the situation in the GFC. Cash & cash equivalents at USD 25.334 B at YE 2008. Thank you for sharing to Liberty.

lol!, Greg, I always enjoy your colourful language here on CoBF. The GF driving Mr. Gentile's car into the pool!? Man he must have been a bad boy! I would argue that's close to the top of the list on nasty punishment in a relationship. Bloomberg - Zeke Faux [March 23rd 2017] : ‘Bro, I’m Going Rogue’: The Wall Street Informant Who Double-Crossed the FBI. Guy Gentile flipped, and flipped again. These two men possess pretty entertaining personalities, and to me they are somehow "advanced user level only".

Happy 90th birthday to Mr. Buffett! - Yes, the 90th, you know, when a child reaches the age of one, it has had two birthdays - and so on! [ ; - ) ]

The whole line-out here is ridiculous. Where are the data to support the opinion? Let me just mention, that every Danish bank has a price list [available on its website], indicating what you can expect of price, based on the banks assessment of your credit worthiness/credit score. Where is the analysis & data to support this line of conclusions? Personally, I think a lot people confuse Danish mortgage bonds rates with rates related to being a lending customer at a Danish bank.

Quotation of post by Cigarbutt in the topic Rosenberg is more bearish than usual : I would submit that the above bolded part is obscene (from a financial point of view) :) ... Quotation of post by Cigarbutt in the topic What are you selling today? : No comments from me here about Cigarbutt's use of the word "obscene" above. [ ; - D] - Congrats! [ : - D ] - - - o 0 o - - - That said, I'm now very close to capitulation towards my fierce resistance here on CoBF of all the talks about negative interest rates for Danish mortgage bonds. [My main point has all the time been that this has to judged based on fixed interest rates over the whole annuity.] We now have available twenty year zero [& fixed] coupon, 20 years annuity mortgage bonds, that can be sold at ~0.96 of par, implying something like ~0.36 percent in effective interest rate. - - - o 0 o - - - I have never in my life seen anything like this.

To me, in short, we need to let this angle to jokes [opinion & confrontation] [the way well-intentioned-[no-harm-meant- to-anyone] jokes] here on CoBF - in this topic - go no matter who's the reader, no matter who's the poster. Take it easy, and stay cool [no matter what : If you arent't taking it easy or staying cool, stay cool anyway!]]

The Emotion Machine - Steven Handel [July 24th 2009] : “Gam zeh ya’avor” - This Too Shall Pass: A Lesson In Impermanence.[1] - - - o 0 o - - - [1] To me, very well written - but at times not easy to practice.

Simply put, this line of thinking by Spekulatius, has some merit, to me.

Thank you for the elaboration here, Mario, Please don't be a stranger here on CoBF.

Here is a story about how to be taken into surreal territory - the good way : Jeudan A/S - [JDAN.CPH] - 2019H1 Report - [p. 1]. translates to : [ ; - ) ] - - - o 0 o - - - I bought it first time in January 2013, then added in 2014, 2015 & 2017. EBVAT/share just continues every year to go up, up, up. What I especially like about it is that I've never received bad news from the company. I just read the company announcements as they come [mostly about new acquisitions or disposals], look at the quarterly financials and the annual report to see if there's any dividend coming my way, most of the year ends the answer is "No", and then I think : "Fine, please just keep my money".

Cardboard's posts today in this topic actually made me - finally - try to read up a bit the Presidential Powers of the POTUS [i used the Wikipedia article about it, just for starters]. I realized the concept of "Commander in Chief" and that declaration of war is a congressional matter. Where is line between these two concepts? How should we think about it in this actual context? [Trump, Xi & the US/China trade dispute]. This "thing" started on March 1st 2018 [Link]. No end/solution/agreement in sight so far. The last couple of days I've been studying a few small Danish banks, that - on surface - seem dirt cheap. Perhaps I should consider one of those Fentanyl patches instead. The user experience reads fantastic.

Perhaps a bit hard times for your posts, here, Mike, Thank you for sharing, and please let it go here. I always appreciate & enjoy reading your posts here on CoBF.