John Hjorth

Caveat emptor! The creme coloured leather sofa on the aft deck is missing : 1. A holder for your phone, so you're able to call your broker, or reply to your spouse, when you're under suspicion for cheating on him or her, while continuing fishing. 2. A holder for your Bloomberg terminal, so you can check and chart your portfolio. Nice barge!

At least I think it is, @Kizion . Thanks.

@Dalal.Holdings, Let me just say here, that I do not understand what the existence [or not] of 'Unicorns' really has to do with topic. To me: US GDP advance LTM : 3.1 per cent, Euro area GDP advance LTM : 0.6 per cent. What does that [the difference between those] have to do [by now] with 'Unicorns' and such? Please review your own posts and mine, meaning : Are companies such as : # 14 : Novo Nordisk, # 27 : LVMH, & # 29 : ASML [Link] subject to your statements about lack of European innovation?

Thank you, @Dalal.Holdings, To me personally, this last post of yours above is the first post in this topic that creates a link / causation [call it what you want], by logic and examples, between the investability of Europe and by EU imposed innovation constraints. I'm certainly a slow catcher, who needs things bent in neon, before it sinks in. Again, thank you.

With regard to Mario Draghi, his statements, and his report, here is the links to his report for those CoBF members interested: European Commision [September 9th 2024] : EU competitiveness: Looking ahead. I have looked it up just today, and have not read anything in it yet. So I can't express any personal opinion about it. But I will certainly read it over the next few weeks to come.

I'll let it go from here, @Dalal.Holdings, A part from this comment : I think you aren't relating to my point, namely it's not the EU bothering and annoying you in your your daily digital life, for the most part, it's likely websites, where the web developers haven't done their basic work of not annoying you with presenting for you the cookies options pop-up, because you are accessing the site from within USA, not from the EU, thus no cookie requests required for you [, but for a person like me [European citzen]. Washington Post mentioned here as an example of how to solve the issue the correct way for citizens outside EU member contries, here including UK and Switzerland.

Good you're bringing us back on topic and track again, James [ @james22 ], My knowledge about German macro economics is insufficient, but I suppose this development is a for a good part releated to the the three large German automakers and their underlying supply chains, which actually constitutes a huge German spiders web? [ @Spekulatius has called the situation for one them a 'shitshow', I am not even sure if it's funny, nor an exaggeration, or even worse, the opposite?] I hope to read something of value about it here from a knowledgeable CoBF member on the issue at hand.

Ref. the posts above about data protection principles by @Dalal.Holdings , @Spekulatius and @Dinar - in principle versus in practice, including all the hazzle and annoyance in practice, is really EU for that to blame if you as an american citizen accesses an American website, actually? Here is a good example - the Washington Post website, accessed from Denmark, an EU member country : I suppose it must be evident that the website is 'tasting' on my user agent [IP adress?] to get a reply to 'Who there?' before sending me a reply and eventually letting me in, or am I reading it in a wrong way here, my assumption just mentioned thereby wrong? There actually exists an news website, that I can't access here from Europe. Right now, I don't remember which it is.

ico.org.uk : A guide to the data protection principles. Easier there to get an overview of what it is about in stead of 80 pages. I speculate it all started with the ads revenue streams at Google and Meta, rising such considerations based on these companies accumulation of all kinds of userdata, however I'm not sure about that.

@Dalal.Holdings, -Aaannd *POOF* - Mr. Breton is history : Edit :

What has Elon Musk and X to do with this topic - Both Elon and X are today considered American, I think, X not even listed [, and thereby unavaiable for us] - - - o 0 o - - - Personally, I speculate it's about some material and basic differencies in attitudes and opinions about societal design and entrepreneurship, and the attitude towards the concept of 'Everybody is the smith of his own luck'. There exist the phenomen called Old World, and there exists thereby the opposite of that also. It's based on history and roots so deep in differencies among cultures : Wkipedia : European immigration to the Americas. [Those who outwandered from Europe to the US, likely saw more opportunities than challenges for the future, based on self confidence, self esteem and optimism], while those staying put were willing to accept available, but miserable living conditions, as they were.] In that light, the economic miracle of the United States of America, has almost been a given thing, so far. But it does not embrace everything. I.e. think luxury, where the concept of vanity is rooted in a prior, then decadent and totally opulent European Upper Class, exploiting and suppressing other, lower classes, before basic human rights evolved over time in Europe.

@Luke , I haven't even tried to draw any conclusions from the numbers exersises done by me above. I'm just stuck like another terrier in the pant leg of Super Mario's statements above and the sentiment expressed in this topic, thus leaving the conclusioins up to you. Questions for every reader: 1. Are any of these companies uninvestable, and in that case, for any of them - why? 2. Are any of these companies, in particular uninvestable, because they are headquatered in Europe, respectively in an EU member country? [Needless to say, I personally consider much of the EU talk in this topic, really biased, because I consider it overblown, and based on generalizations.]

Here, some - more or less random - ramblings related to this topic : - - - o 0 o - - - Source : World's Largest Companies by Market Cap. - - - o 0 o - - - Top 100, by country [page 1 on the website, without any filtering, here sorted by country, numbers only, no names] : Australia : 1 Canada : 1 China : 9 Denmark : 1 France : 4 Germany : 1 India : 3 Ireland : 1 Japan : 1 Mexico : 1 Netherlands : 2 Saudi Arabia : 1 South Korea : 1 Spain : 1 Switzerland : 3 Taiwan : 1 United Arab Emirates : 1 United Kingdom : 6 United States of America : 59 Total : 100, af which Europe : 19 ['Europe' not to be confused with 'EU' here.] Limit : USD 151.76 [#100,= UNP]. - - - o 0 o - - - Next, reverse calculation of EUR 100 B limit to USD, at today rates, as I personally see them : EUR/DKK = 7.46 & USD/DKK = 6.74, thus EUR 100 B = USD [ 100 * 7.46 / 6.74 ] B =~ USD 111 B. USD 111 B set the limit at # 146, [= 6501.T [Hitachi]]. Next, mess around with data, sort and such, this time downloading the .csv file from the website and converting it to Excel format, format as a table, with filters avaiable and such, providing this time, this with names on European companies : Australia : 2 Belgium : 1 [Anheuser-Busch InBev] Canada : 1 China : 13 Denmark : 1 [Novo Nordisk A/S] France : 7 [LVMH, Hermes, L'Oreal, TotalEnergies, Sanofi, Schneider Electric & Dior] Germany : 4 [SAP, Deutsche Telekom, Siemens & Allianz] India : 4 Ireland : 3 [Accenture, Eaton & Medtronic] Japan : 5 Mexico : 1 Netherlands : 3 [ASML, Prosus & Airbus] Saudi Arabia : 1 South Korea : 1 Spain : 1 [Inditex] Switzerland : 4 [Nestle, Novartis, Roche & Chubb] Taiwan : 1 United Arab Emirates : 1 United Kingdom : 6 [Astra Zeneca, Linde, Shell, Unilever, HSBC & Arm Holdings] United States of America : 86. - - - o 0 o - - - Files attached. companiesmarketcap.com - Companies ranked by Market Cap - CompaniesMarketCap.com.csv Worlds largest companies with market cap above EUR 100 B as per 20240915 - 20240915.xlsx

Personal note here : I'm a proponent of the Danish opt-outs from the European Union. Stories like the above about attached caps, crumbled and curvy cucumbers and knobbly carrots, however, I do not let get under my skin or affect my mood. In material aspects the issue at hand here about EU there is a point though, ie. the redistributive effects of what's going on in the EU budgets, with the funneling back of memberships contries EU contributions into enormous subsidies to agriculture and farming, distorting prices and production of foods.

There is no reason for limiting your personal line of thinking in this way as an European citizen, Linus [ @linus_md ], subject to your broker isen't limiting your access to the american markets. Likely you can make your personal picks on both sides of the Atlantic pond.

I one thinks carefully about it, then this statement from 'Super Mario' is actually just so lame, verging to hilarious. [No critism of you bringing it up here on CoBF meant by that, @Sweet .] The man argues for and is a proponent for central planning and regulation with EU as the proposed vechicle for imposing such things, as a liberal socialist, from his stool in EU, as the opposite to the concepts of capitalism and competition. He is not able to comprehend, nor accept, that exactly his political views and orientations are the direct cause of the - almost correct - facts he mentions. ['almost' here, because @Dinar and @Spekulatius , ref. above, have already proven the statement false and invalid by two three specific counter-examples.] It's just plain dumb.

And now we are back to the question : 'Who started this?' Putin won't dare, otherwise he will be swept away from the surface of this planet.

Barrons - From AFP News [September 13th 2024] : Biden Says 'I Don't Think Much About Putin,' After Russia War Threats . It is a bit funny, actually ... almost like the former POTUS talking about the little 'rocket man'. I guess Putin is fuming in his office over being ignored. -Is he worried about the risk exposure of his 'modest cottage' [read : flamboyant palace] ?

James [ @james22 ], Thank you for the elaboration here. Your very short post before the above left me really confused, with no understanding [ I may add : for the first time ever for my part about your posts here on CoBF]. I hope all is well with you and yours in retirement.

Now, what [the ****] do you do, when you wake up in the middle of the night, just by routine checking our phone, your Facebook app then asking you if you have just tried to log on near Neresnytsya, Ukraine? -You do nothing, but just thinking, 'thank God I'm here, and not i'n '[th]ere!''

Indicative of the seriousness of the posts in this topic, considering this forum is populated by a majority of North American citizen.

Here, I can naturally only answer for my own part, and as a Dane, I'm embraced by The Danish Opt-Outs from the European Union, of which I am personally a supporter. There are political forces here, that have made it their meaning of life to minimize EU bureaucracy and pointless detail decisions, regulation and interferrence concerning the lives and freedoms of the citizens of EU member states. Some of them are sitting on a chair in Bruxelles, actually, elected to tear the instituion down from within. Actually, not much different to the perception of Washington DC for many Americans, I would guess, here without streching this comparison too far.

@ander, I with with you on this. But this is CoBF, the place for all kinds of Berkshire enthusiasts and nerds, likely due to overdoing things at times [, but certainly not always, nor on avarage]. If it was Greg [ @Gregmal ] posting about it like you , I personally think he would be calling it something like a bit more more than a 'nothing burger', perhaps meaning a 'nothing Big Mac'.

Haha Damn, it's so annyoing with those attached caps! - I did not know it was an EU thing. Story from earlier about EU crumbled cucumbers : The Guardian [November 12th. 2008] : EU bends the rules on cucumbers.

@UK & @Spekulatius, Again : Reuters [September 11th 2024] : Kremlin warns of escalation if US allows Kyiv to hit Russia with long-range missiles.