John Hjorth

Do you gents consider this "normal procedure" for Berkshire, not appointing the successor in the same announcement? -Perhaps an external candidate in the binoculars?

Great one, Cigarbutt, From the article: I picture the regulators then sitting scratching theirs heads, boiling the whole thing down to the fundamental question: Q: "How do we regulate a rock?" A: "We don't." [ : - ) ]

Primary source: Bernie Sanders [October 3rd 2018]: Sanders, Sherman Introduce Legislation to Break Up Too Big to Fail Financial Institutions. Links to Bill, summary etc. in lower part. I don't see Berkshire mentioned in the documents [, but it may be embraced by this in case Bill passes]. As we all know, Berkshire did not get help under GFC. I haven't listened to Mr. Sanders' announcement [a 30 min. clip on FB].

Added a bit to SCHO.CPH & BAM today.

I realize now, that my post #97 in this topic actually could be considered deeply patronizing and condecending. If I have offended you, SwedishValue, please accept my apology. My post was actually not meant that way. In short, personally, I would - any time - prefer BRK buybacks [at reasonable price levels], as an alternative to Berkshire holding [uS] cash & US T-Bills.

This has been going on for many years here in Scandinavia. Please don't get me started. Just let the seat go to the best for the position. [<- Why is that even hard to understand?]

This is still the only fact we have. So, yes, trying by now to triangulate with some kind of precision maximum buyback volume actually appear a bit "academic" [<- [: - ) ]], ref. what Dynamic is implying, when that maximum volume is actually meaningful. [Academic can in this context be defined as a well thought out & in-depth analysis of something without relevance to anything. [ : - ) ]]

SwedishValue, According to Dynamic's study of the rules, ref. Dynamic's post here, it's max. 25 percent of the average daily volume. There are some valuable posts by globalfinancepartners about this matter and the details of it on here, too.

SwedishValue, Personally, I think our primary source should be the NYSE numbers, as a direct source, i.e. for the B share you find the daily turnover here. How do those numbers compare to yours?

I'm posting here - instead of in the Tesla topic in the Investment Ideas forum, which topic I'm actually reading on a fairly regular basis. I'm posting here, because the angle of this post is human. Tesla & Teslas, rockets, roof tiles as mini solar panels/elements, batteries, hyperloop and I don't know what ... - money, stock prices, SEC cases ... & money again! I think no human being can withstand this kind of pressure and workload for sustained periods, without durable damages to health and mind. It's called burnout, in short. It's a very efficient way to shorten life expectancy. The common denominator of all those surreal events involving Mr. Musk lately is, that they are symptoms of progressing burnout. What would you do, if you were the observer of something like this evolving over time for a dear and close friend to you? - I think you would - at least try to - do something. So, in short - I speculate that Mr. Musk is also friendless now - at least to some extent. So, to me, this whole thing going on right now is indeed sad to observe. [in the end, a judge is called a judge, because it's up to that particular person to do exactly that: judge.]

I'm on daily basis following the whole soap opera related to the Danske Bank money laundering scandal. I'm entertained at a highly satisfactory level. Today it's in the Danish news, that the Danske Bank whistleblower has hired an attorney called Stephen M. Kohn with speciality [superstar status?] in representing whistleblowers. Here is a story about one of his former clients: This man destroyed Swiss bank secrecy. Special situation investing, to say the least : Do something illegal, do the time for it, and then cash in - dearly! From the article: Live like there is no tomorrow. ... Perhaps the doctor arrives after a hitman has delivered on a contract on him, depending on who he's turned in.

Exactly, Liberty, Furthermore the observant reader will note, that there is no Austin Value Capital logo on the front page of this essay. Joel's financial essays are available on the Austin Value Capital website here.

Personally I use an app called Outline installed in Chrome. Works great with SA. Mentioned on here before - H/T to that board member for it. Link.

s8019, Well, it's all about basic theoretical assumptions and methology of analysis, isen't it? [ : - ) ] - I saw "CAPM" several times while just letting my eyes run over the pages without reading. [ : - ) ] -So, maybe the conclusion may eventually, after reading, end up with "I don't want to understand". - - - o 0 o - - - I'll take notes while reading the piece and post them here. I will read it - herd/crowd behavior is always interesting.

DR [Danmarks Radio] Detektor: Myth Buster [september 25th 2018]: "Does "The Best Stock" exist?". Attached is the report referred to in the article. I understand it - without having read it yet - as an empirical analysis of [Danish] herd behavior with regard to stock investing. I have earlier here on CoBF vented my personal opinion about Mr. Rangvid's position on that he is a proponent of the stance that [Danish] people need to be constrained [by the lawmakers] with regard to position size so that they don't burn themselves. I look forward to the read at a later moment. The_cost_of_equity_underdiversification_with_Bjarne_Florentsen_Ulf_Nielsson_and_Peter_Raahauge._February_2018_-_20180925.pdf

Mike, Got it now! [and a quite funny I simply coulden't figure that out, actually!] Thank you!, & back to topic.

As Dane - English not being my mother tongue - I have to ask: What is "COB" an abbreviation for here? [i understand it here in this particular context as "the decision to make when the time is due for it - not even a second before that."]

The whole situation about Einar Aas has been covered intensely in the Scandinavian Press, and I have read a fair part of it. The whole thing to me just appear absolutely surreal, when one self is wired just totally different. To me, it appears like "No sweat" on all the way up, and also "No sweat" on all the way down, even if all the way down is right into Hell. There are things & events that I personally choose not to relate to. This is one of them. Furthermore, I simply can't. Mr. Aas's assets has been freezed under a Norwegian Chapter 11. If he's cheating with some assets overseas or whatever under that Chapter 11, he'll most likely end up in jail at some not further specified time in the future. The whole thing about him to me appears just to be "a game".

Thank you, wachtword, Today, I can take it.! [ : - ) ] And I appreciate your comment here - to me, it actually demonstrates, that you're openminded, too. I would argue, that I was mentally "hit double" by this ... - it was soo embarassing, and to some extent taboo, too - everybody who I was close to, could feel that there was something wrong, simply because I misthrived. Hit double in the sense by being a CPA, and then you don't even master & manage to be in full control of "your own personal "sh!te!"" [<- SharperDingaan terminology here!].

Thank you, Mario, Actually, I didn't just "remember" here. rb's post is actually like some kind of script chiseled into my mind, as a - by basis - logic and quite simple solution to a question that I at that time had been struggling with for years. Simplifying it, yes, but still giving it some structure, that my brain can relate to. Up to us as readers of the post - based on our own expectations, to create the probability range. It's like being hit over the head by a cub. CoBF is actually stuffed up with beautiful things like this. One just has to recognize it when one read it. It's all searchable - you just have to remember the bright person. By doing so, we all get less dumb. Still H/T rb here.

Many [many! [ : - ) ]] years ago, I had a GF ... - I was so crazy about her, and so in love with her! - who once said to me: "I guess, I just started getting put on the pot tilted ...", when I had serious discussions with her about her doings, that I from time to time simply coulden't accept. It all boils down to, that you have to take on responsibily for your own life - in all aspects, combined with the understanding & application of some quite simple, but very important basic rules of how to live your life, if you want to live without financial concerns. I think all the posts from Cigarbutt in this topic so far, and the deep line of thinking behind those posts, is exactly a mirror of that particular line of thinking.

- You simply have to start a separate topic in the Investment Ideas forum about Metro Bank, Mike! It appears you have done some serious work on it lately! [ ; - ) ]

With regard to how to value the Berkshire insurance float, - popping up again here now -, I still think the best place I have read about it is rb's post #89 in this topic of July 19th 2017. rb's angle & way of looking at it just makes so much sense to me.

That's actually also the really hard part. To recognize and derive, by analysis of your own actions in the clear rear mirror, that you were not wise, nor smart, perhaps even silly, or just a plain idiot. Over that hurdle, it usually gets easier along the way, depending of to which degree one has screwed up. I've been there about ten years ago [and have posted about it here on CoBF], done that & got that [selfimposed] "Idiot!"-shirt. - - - o 0 o - - - The moral hazard dimension of the GFC has been discussed at great length in a series videos produced by CNBC recently - interviews with some of the key players about the wild days - about 15 minutes each - among them Mr. Buffett.

kab60, I suppose Mike has gone to bed now, so I take the freedom to link to Mike's four-liner post about the bank here. Pretty amazing what this bank is pulling off right now, actually. - - - o 0 o - - - Thank you, Mike.