John Hjorth

Let's go talk about it in the separate LVMH topic in the Investment Ideas forum.

Certainly an interesting angle and take on things, not just for calling it mind provoking. [And now I'll enter shut-up mode again on this.] - - - o 0 o - - - I hope you're OK, Charlie [ @dealraker ] - Santé!

A bit more than eight years ago, I posted this somewhere else : I think I'm now in need of a dose from @Spekulatius about the difference between being an optimistic realist and being a realistic optimist.

YouTube : Reggae Song Hits [May 3rd 2018] : Carlos Santana Greatest Hits Full Album - The Very Best Of Carlos Santana.

Thank you, @Maverick47, It - the book - may have even great appeal to some CofB&F members, while to other members perhaps not so much. Each to their own.

Blake [ @Blake Hampton ], Why are you even posting this here on CofB&F? - Why don't you just acknowledge that these particular investments are not for you to engage with or in? - Why don't you just move on to other places? There are abolutely nobody here on CofB&F forcing you to having an opinion about them, and expressing your opinion about them as investments, based on actual prices. Are you wiling to short them? - If not, please move on! - - - o 0 o - - - You need to understand the underlying accounting conventions, on which public accounting for such companies are based. We live in a world, where public accounting for quite some time now hasen't been able to keep up with in real life technological development with regard to accounhting for a true and fair view. Mr. Buffett has earlier talked about 'companies, who are able to run and evolve with no capital'. It's just dead wrong. The matter at hand is that existing accounting conventions and standards aren't able to specify, quantify and value economic value of R&D pipelines. Talking i.e. about P/BV per share for Apple makes absolutely no sense - the Apple capital allocation could easily run it into indefinitely [if agressive approach applied], eventually turning it negative! [Please look at $PM].

Present Russian macroecomic commentaries and assessments : - - - o 0 o - - - Project Syndicate - Anders Åslund [January 14th 2025] : Putin’s War Is Fueling Russian Stagflation No public available measures any longer for Russian Inflation, Russian banks boosting Russian business lending based on backing on preferred basis from Bank of Russia [<- friggin' crazy and desparate, if one thinks carefully about it!], 108 airliners planned built since 2022, 7 [seven!] built, Russian National Wealth Fund [, which is financing the whole holly-go-molly] down to USD 31 B end of November 2023, expected to hit zero net assets within about nine months [, and what then?], personal taxation upped. - - - o 0 o - - - Reuters - Exclusive [January 23rd 2025] : Exclusive: Putin growing concerned by Russia’s economy, as Trump pushes for Ukraine deal Basically, more of the same, and : I wonder if the man himself even believe this utter *BS*? And : The mans cronies, some the most important of them, criticising him publicly, is by now almost unheard of, and thereby tell us a lot about the actual situation. Furthermore, Russian central bank boss Elvira Nabiullina giving up on raising central Russian interest rates further, pretty much. - - - o 0 o - - - So, a train, running at a steady clip, direction at a huge stop block at the end of the rail, and in the autumn 2025, is set by now to wreck in a huge blow-up!

YouTube : Times Radio [January 23rd 2025] : Putin is incapable of defeating Nato amid growing suspicions of Article 5 breach | Diane Francis To me, interesting considerations about the phycology and interaction dynamics between two bullies, who are about to bully each other. [<- Make your choice : Coffee, popcorn, or both].

Bloomberg - Opinion - Andrea Felsted [January 24th 2025] : Luxury Needs Its Logos Back. Trump Can Help. Subtitle : Bernard Arnault attending the inauguration underlines the importance of the US market to luxury brands. - - - o 0 o - - - Felsteds take on recent global and geopolitical events and developments, viewed from the angle of the global luxury sector, perhaps here with a certain focus on Mr. Arnault. Quite speculative to me personally, but still a bit interesting, I think.

Amazon : Buffett and Munger Unscripted: Three Decades of Investment and Business Insights from the Berkshire Hathaway Shareholder Meetings Subtitle : Three Decades of Investment and Business Insights fromthe Berkshire Hathaway Annual Shareholder Meetings. Release date : January 21st 2025. [I personally got my copy here in Denmark today from saxo.com, after preordering it there a few months ago]. - - - o 0 o - - - It's not a book in the ordinary sence, more like a compilation of approximately 500 questions and answers from the Berkshire Hathaway arranged and sorted by topics. There is to me personally no doubt, that part six and the appendix in the book must be gold for an investor not alreaday with any knowledge about investing in the global insurance space.

Sanctions aren't identical to tariffs, Mike [ @cubsfan ]. Individual sanctions on the ships in Russian shadow oil tanker fleet, meaning by their individual identity, is likely by now among some the most effective countermeasures possible to further deploy. - - - o 0 o - - - Here in Denmark, we had a situation not so long ago : dr.dk - Inland [January 14th 2025] : Mette Frederiksen calls it incomprehensible, but Danish shipyard just follows the rules. [Damn, I really like how good and handy Google Translate has become in recent years! ] So it's a bit complicated. New world order and situation, meaning new rules needed, because incumbent rules obsolete and creating obstacles and hurdles in the situation. If not anything else, all this suddenly keeps a lot of politicians and bureaucrats busy, waking them up from their sleep! So it's not only about access to harbours for these ships, it's certainly also about hitting on them on ongoing maintenance and repair, and on bunker supply.

BBC - Iplayer [September 4th 2024] : History - The Zelensky Story - - - o 0 o - - - To me personally, this series of 3 parts so far, is just awesome. I really can't help to like and admire this man. In the interview he is asked about how how and what he thinks about his main advesary in Moscow. Christ, that gave me the creeps, and it seems soo right! As far as I can see, it seems like the BBC Iplayer unfortunately only works in the UK. I got aware of existence of the series by part two being transmitted on Danish TV Channel DR1 this morning with Danish text translation overlay, and I spend the rest of the morning untill about noon gobbling all three parts by streaming them.

Now this funny! - - - o 0 o - - - - So many unanswered questions by now ... - I mean also about the aligned tech CEOs at the inauguration, ref. Luke [ @Luke ] above ... what was it that Zuck and Bezos were glaring at? [, perhaps even drooling?] - It appears it wasen't the Sánchez cleavage ... perhaps an even better one?

Protector Forsikring ASA has its own separate topic here on CofB&F in the Investment Ideas forum here. [I own it.] Your post above belongs there, not here.

- There is nothing like getting up quite early, grabbing a cup of coffee, and go to CofB&F and start the day with reading good humor like this!

You guys constructively discussing JOE here should really leave this topic [in the General Discussion forum], meant in a positive way, to continue the discussions in the separate JOE topic [in the Investment Ideas forum]. It's a real pitty this ongoing discussion by now is going on here, and not in the separate JOE topic, meaning it 'drowns' here, over time, not tied to JOE. Peace, and enjoy your Sunday!

Thanks, Eric [ @cwericb ], I did the branch-out here without even asking you to do it yourself, or discussing it with you in advance, based on that I think it's great topic for discussion. - - - o 0 o - - - Here are some hardcore data related to Fairfax from my households investment bank [Swedish & listed Nordnet Bank AB [SAVE.STO], for us, Danish branch] : And : To get a perception of the number of shareholders in those four countries, I can today see the following : Related to FFH.TO : Meaning : 248 owners in total over those countries, and for FRFHF: Meaning : 4 shareholders. - - - o 0 o - - - Edit : Link.

I've read some comments and discussion about promises under the recent Presidential US election lately here on CofB&F. Which reminded me of, 30 years ago, we had a Danish comedian, called Jakob Haugaard [still alive and kicking] , who, back then - as a joke - did run for our national Danish lesgislative body, called 'Folketinget'. and actually got elected! Here is his election promises from back then : For some of the points, one has to be Dane with local knowledge, to understand, but I think you all get the picture. Link.

Posted by @cwericb in topic : How Long Have You been a Continuous Shareholder of Fairfax Financial?, and by starting this topic, based on @cwericbs post, branching it out as a separate topic : I have been thinking about exactly this personally also recently, out of being thankful for getting this place on the Web to know, which to me and my family [also, like for many other members of CofB&F,] has been really life condition changing. - - - o 0 o - - - I have no idea about how many shareholders hold Fairfax shares, or even know about the existence of the company. I can provide some hard core data about it from my investment bank, where the bank operates in the Nordic countries Sweden, Denmark, Finland and Norway, I will post data later.

Starship Launch 7 : Elon Musk : 'Success is uncertain, but entertainment is guaranteed!' I would say : Likely the most expensive, and advanced!, New Year fireworks - ever!, over Turks and Caicos Islands, and 17 days late! ! :

@73 Reds, I can't help it, I'm actually chukling a bit here! : The answer to your question is : Yes! I'll try to elaborate a bit, later, perhaps it will be tomorrow. I know it reads totally crazy for many, especially for the North American CofB&F members.

@Eng12345, @formthirteen, @Castanza & @73 Reds, It's actually a bit more complicated. What @formthirteen posted above is about taxable accounts, and in that respect true and correct. For tax deferred accounts, the tax scheme here for the return taxation is as follows: Nordnet Bank AB, Danish branch : How is this year's PAL tax calculated? [Google translation]

@Eng12345, Not just full sweep money out of the households accounts, but also subject to a margin call tomorrow for an eventual cash overdraft, if not fixed today. It's actually friggin' crazy to treat citizens this way. I should really get in contact with the member of our legislative body [, called 'Folketinget'], whining for material change. -Every year, I think now is the time to do something about it on the political level, and then - within a few weeks, it's 'just the past', because the view is forward looking!

The socalled PAL-tax withdrawal hit all the households tax deferred accounts today at about 1:30 PM. After working basically most of this week on getting an overview how it all would play out today, I managed to fix it all within an hour or so. Some tax deferred accounts 'fixed' by selling SCHO.CPH, because the account types [called 'kapitalpension'] are abolished and therefore closed for contributions. The others and the rest [called 'ratepension'] fixed by a combination of contributing cash and sellling SCHO.CPH. Terrorist tax collection at its best, no bill in advance, no specifikcation, just a a cash transaction, funds dragged out of the account on the day. Thank God it's now over for this year.

Hamster wheel already, you know, @Gregmal.