Lotsofcoke

B I N G O

The man who had to think carefully about how to answer 'should humans survive?' has opinions ...

Still undervalued by a significant amount IMO

https://stocks.apple.com/ANSAMnIAJTxqFuuLXjfaxxQ

NU/NYSE

Warren Buffett Defends the ‘Giving Pledge’ Against Peter Thiel The 94-year-old still has time to defend his belief that the wealthy have an obligation to make society better. EXPERT OPINION BY JASON ATEN, TECH COLUMNIST @JASONATEN MAR 22, 2026 https://www.inc.com/jason-aten/warren-buffett-defends-the-giving-pledge-against-peter-thiel/91320529

NU/NYSE

I see my old friend Francois and I have similar views on AI:

sweet. I see Giverny's team has expanded significantly. So happy for Francois and his team. Francois is a class act. Always has been. Same guy he was over 20 years ago. And nice to see J.P> Bouchard is still there... I can't believe he has silver in his hair... I met him when he was just a youngster at Giverny. He's a sharp guy. Great sense of humour. I am not at all shocked by their continued success. Bravo Giverny.

I see what you did there.

As far as I know Buffett is still sitting by his phone waiting to help deploy huge amounts of cash and help Greg however he can.

I should have added that caveat - I suspect it will be base d on. market opportunity as well.

I alway wondered if the Chevron was more for yield....

I like this guy... lol Quoting Charlie: If you mix raisins with turds; you still got turds.

Was Bill Miller a value investor? , the guy who founded Miller Value Investors? I remember him loading up on Amazon when the rest of us were scratching our heads. So your statement that value investors didn't invest in internet stocks isn't quite correct. Amazon was considered an internet stock. Miller saw the potential and felt he could intelligently value those future cash flows. To say value Investors don't invest in XYZ business is a demonstration of a lack of understanding of what exactly value investors do. A value investor will invest in anything cheaper than its value (however they access it). The fact they don't invest in something is a matter of them not being able to value it or it being fully or over valued - and all these assessments, if properly undertaken, employ some manner of risk assessment which Buffett managed by seeking a significant Margin of Safety in his valuations. As for your statement that there is always something better than cash. To say that, you would have to have a circle of competence large enough to value all possible investments. I don't thing I'm smart enough. Maybe you are. But I take comfort that I can recognize the limits of my intellect. At least sometimes anyhow.. A Genius is a Man who knows he is not one. (attributed to Einstein - I heard Warren quote this once)

It's hard to do even when you do know these principles...

it's now over 30%....

If one bought Bombardier in late June 2001.... And there are charts that can show the opposite as well for other stocks.. But I don't understand every stock enough to make an intelligent decision. Is AI the future? IS IT? I don't know how anyone is "investing" in AI since there are no cash flows to discount. Wait til the market figures out that the Strait of Hormuz isn't only preventing oil from getting thru... without Helium gas - manufacturing of Semiconductors ceases. Wonder how the AI investors will react to that reality when it hits the investment news, trading desks and finds the desks of mass media reporters... IS AI overvalued? How does one even know? Even the people who run the industry don't know the answer. And just to put a fine point on their calculations - the same people running that industry calculate a 20 to 30% probability of AI destroying humanity. So.... I take issue with their assessments of anything at this juncture.... and given how much of a market cap that represents in the markets... Yea. That concerns me and I consider it a market risk. I see a huge speculative bubble.

It all depends on your assessments of risk and valuations. Remember the Dot Com bubble? The market for that era peaked in March 2000... From March 2000 when that bubble popped to October 2002 (more than two years later) - the market had wiped out all the gains of the late 1990s. The NASDAQ - heavy with speculations in that bubble - lost about 5 trillion in market cap over that period or about 75% of its value from its market peak. How many times did I hear - why aren't we buying internet stocks? you are missing out on the market... this is the future... cash? are you nuts? Amazing how silent those voices became after a year or two.

The US Dollar (DXY) has depreciated the last 12 months by approximately 4.19% to 4.41% as of March... Last 12 months (as of March 2026), the Canadian dollar (CAD) grew somewhere between 4.38% to 4.56% against the USD. If you are going to be in cash because of lack of opportunity costs and to manage your accessed risks - then you don't want to be in a currency that is losing more value than others.

I don't have anything against FFH. 1) I want the cheapest price I can get it for. So I typically have been buying it when everyone is selling it. 2) one of the things people don't see in decisions people make (and it's a different calculation for everyone) is opportunity costs and risk assessments. If you are doing value investing correctly - you will find you are usually heavier in cash when valuations are high. Not because of timing but rather because of margin of safety analysis in calculating intrinsic values of the few things one understands well enough to calculate reasonably well. In other words - cash isn't betting against any particular business. it's a different analysis of risk and opportunity. and if one thinks things like Gold are speculations and one doesn't speculate - it's not a comment on that either. it's a principle of non speculation on price direction alone. Of course, most people research their fridges more than their stocks. But I am what I am.

Is there a reading comprehension problem on here? I am pretty confident I never said I shun the USA. Getting out of US dollar exposure isn't shunning the US. Most people would assume that means I was concerned that the USD may lose value. As for Gold.. I thought this was a "value investor" board? What's the value of Gold? Where are the discounted cash flows? The value of Gold is simply what someone else is willing to buy it for. It's fine as long as you don't convince yourself you are investing... gold is a speculation on the direction of price.You aren't buying an asset that produces anything.

Anyone wanna guess what Abel's first big buy is gonna be? I'm betting Energy and will venture a guess: OXY. Let's hear your speculations folks!

Don't give away all my secrets Sanj... As for opportunities: I recall some old guy saying something about finding out who is wearing trunks when the tide goes out? As for end of world... One must invest like the end of the world doesn't happen... If it does... what you bought or sold won't matter and your cash won't help you or get you into the after life in a better position... My wife often says we should do this or do that because we may die tomorrow; my standard reply (before ultimately agreeing with her anyways) is "but what if we live to 130?" I've been mostly in cash the last two years (except NU/NYSE which I started buying in 2022)....I have started to nibble again (in oil). I sold all my BRK a little at a time last year... to go into cash and get out of US dollar exposure. Nothing bad about BRK.. just US dollar exposure and fully valued IMO. It's always my first choice because I know it best and it's such high quality. I have complete confidence in Greg Able. And remember: crisis=opportunity. All we need is Jim Kramer screaming what a horrible investment it is... a screaming buy signal... (anyone around BRK the last two decades will get the joke) Stay frosty people.

High praise? For me? Gee - nice. Where was this praise? I think I missed it....