John Hjorth

Conclusion so far: Berkshire - A CoBF darling! Right now I see five CoBF members with a gross position above 100 percent. At least to me, that's ballsy! - - - o 0 o - - - This post is also meant as a friendly bump - the poll is still open, for those members who haven't taken it yet!

At least partly related to this topic: Semper Augustus Investments Group LLC portfolio composition according to 2018Q3 13-F filing, processed and sorted in Excel, attached. Berkshire position at 38.6 percent. I see other "good stuff" there, too, -several of the names covered actively here on CoBF by fellow board members. Mr. Bloomstran & Mr. Christensen appear to me to have a sweet tooth for O&G and materials also. Please note the usual qualification: We don't know about positions and capital allocated to companies not listed in the US. There are three European headquartered companies in the portfolio via sponsored ADRs. Semper_Augustus_Investments_Group_LLC_-_Portfolio_end_2018Q3_according_to_Form_13-F_-_20190203.xlsx

Thank you for the kind words, gfp, Yes, the piece is actually a fascinating story about how client pressure on a money manager without permanent capital created a wonderful, high quality client letter. -Twitter is Twitter ... - there are gems on there from time to time though! - - - o 0 o - - - With regard to the situation back then in early 2016, for my part : Triggered by your post, gfp, I think what I did not do back then is now - and as of now - my biggest error of omission [thumbsucking], based on partially ignorance, not doing my homework correctly & sufficiently, and in general not being in total control of my own sh*te - sh*te I've setup & created myself ... *SIGH* [ : - / ]. I'll elaborate on that in the "SIL/MIL investing" topic tomorrow. [Now I wrote it here, so I WILL do it morrow ...] later. [<- [ ; - ) ]]

Welling on Wall St. - Volume 5, Issue 6 [April 1st 2016] : Listeningin [<- [ : - ) ]] Berkshire Believer - Stock's slide, Change in Buffett Valuation Guide Don't Temper Ardor [<- [ : - ) ]]. Interview with Chris Bloomstran, Semper Augustus Investments Group LLC. [H/T @Vexboy_Value on Twitter.] Much water has run through the river since then, but to me still worth your time, if you are a Berkshire investor. - - - o 0 o - - - Still no 2018 Client Letter as of yet! - 2017 Client Letter - also about Berkshire - was released on February 11th 2018.

Haha! For now, yes (to both)...as for tomorrow... ;D ;D Great to read, LC, thank you for sharing, From what I've read from your posts here on CoBF during the years, you started out early, and are still young. You have a hell of a runway in front of you, to do good. Best of luck going forward from me! [ : - ) ]

Attached is the 2.1 note from NVO financials YE2018, released today, for perspective of diabetes and [less] obesity. What does that tell you? [From an investment angle: Who may be on their way under the bus here?]

It seems like the "Lethargy bordering on sloth" is over, activity conquering & expanding downwards, penetrating your upper signature line now, LC. [ ;- ) ] - New house project finished, wife happy? [ : - ) ]

Yes, new green grass for insurance & reinsurance - over time, world wide.

Very intesting topic, Sharperdingaan, thank you for starting it, Personally, I read it as a global icebreaker - a frontrunner, and thereby a place to start. The point here being that this should not only apply to businesses, but also to all legal entities [persons, [companies, firms, foundations, trusts & endowments doing business] etc.] with regard to reckless environmental behavior. I.e. the problems related to what's going on at River Ganges involves all kind of sinners : businesses, individuals & the state, cities & municipalities etc. of India - them all being environmental sinners, based on short term based behavior etc.

Yes shalab, A least one element of all the noise generation as of yet eliminated - at least for now.

FOMC Press Conference January 30th 2019 at 2:30 PM.

Thank you, shalab, Your last post puts more shades on your line of thinking. [still : To me, nothing material changed here, so far.] Wikipedia : Flexibility (personality).

This is great. CoBF at its best.

I have always loved your - at times - harsh & dry humor - scattered all over the board, SharperDingaan, -Please don't concentrate it here going forward! [ : - ) ]

Since shalab posted, I have had exactly the same line of thinking as Spekulatius. Maybe I'm more or less blind, but - for sure - I can't see it. I may be in need of a cane of the blind, though. The number of yellow rings here locally goes from one to three, as I understand things. I think two rings is for the user where the spouse/partner is still beautiful, despite it was so ages ago, while three rings is when you're blind. Right now, I'm spending time to counter my blindness by thinking about position sizing for the Big Four US banks.

Thanks for the elaboration here, valueinvestor, -To me, especially the Canadian investors here on CoBF throw around themselves with abbreviations, short of explanations [,please let it go here]. Please keep us updated in this topic about your fare - it's actually very interesting [ : - ) ].

valueinvestor, What do you mean with "VTB" here?

KCLarkin, No, it's not. It's analyzing an investment decision based on the sight in the clear rear mirror, but from different angles, in retrospect. -If we can't do that, what does that tell us about ourselves?

It's hilarious to read your posts about goats here, rkbabang! [ : - D] -As good as reading any good joke! - Personally, I have one IRL, too, about a goat, from when I was a kid. Are we [that means you, not me!] up for more?

Thank you for posting it, Libs, I saw that comment too on the blog, but wouldn't post it here on CoBF, untill I've fact-checked it myself [which is doable, because BNSF files with SEC because of its debt issuances]. If what Tim Eriksen commented on the blog is correct [ right now, I do not know with certainty - please take no offense, Tim, if you read this], BNSF looks more like some kind of "PE-like" investment, without the "flipping" at the end [, which we know will not happen in this case].

Norway : Brief financial statements : proff.no [free], & Full financial statements : The Brønnøysund Register Centre [free] [Press "English" top right][e-mail service for free - subject to creating a free account on the site]. Sweden : Brief financial statements : proff.se [free], & Full financial statements : Bolagsverket [nominal fee - about SEK 25 per piece, IIRC]. Denmark : Brief financial statements : proff.dk [free], & Full financial statements : Please just post your request in this topic, and I'll get it to you for free [request & delivery in this topic, not by PM or e-mail, please].

Apparently it has not seeped into Ms. Yellen's head yet that she's retired, so she is still yelling.

XKCD on the basics of technical analysis [Please don't take it seriously or personally, ref. some ongoing discussion here on CoBF these days]:

Dear fellow CoBF member, Please take the poll. And please feel free to comment the way you like. Gross position defined as if you use leverage. - - - o 0 o - - - Maximum votes per user: 1, Run the poll for : 90 days, Allow users to change vote : Yes, & Result visibility : Show poll's result to anyone.

Today is actually the first day this year, that I visited Semper Augustus Investments Group LLC, to see if there were new Berkshire related client letters available since last years release. [Answer : No.] Earlier years, Mr. Bloomstran released the client letters in the first half of February - at least before the 13-F/HR 20XXQ4 was released from Berkshire. Personally, I speculate it won't be so this year, because of the changes - partly actual and partly expected - in the 2018H2 Berkshire portfolio, because just about everybody expects Berkshire has been on a shopping spree in 2018Q4. [ : - ) ]