sleepydragon

This is the first time someone in the new administration (the prez) clearly said there will be privatation. Before it was all hope and speculation. Now we know for sure they want to do it. I think this is still be underreacted by the mkt, especially the preferred

there’s simply few stocks out there right now that are owner operated, high roe, and that the owner keeps buying stocks (1billion over 1 year period), and trading at a reasonable valuation. Lvmh’s problem has less to do with tarriff. China is a bigger problem. But a decade later people will still be buying luxury bags.

Fmcc, fnmas, fmckj

Commons are up 46% pre mkt

I had a fairly big position on this— too bad i just sold all a little over a month ago. Urg! Always like this.

Sold puts of MRNA

I asked ChatGPT to guess. It says it could be MMM, HON, GE, EMR, or DHR

Francis Chou add massively to SIRI. Second largest position

market will crash, but it wont be today. It will be when Trump says buy stocks the Nth time.

Seems good news for LMT?

Corrupt officers got shot, but money is still flowing if you study Chinese history, you know "anti corruption drive" is usually due to there are too many corruptions. In Ming dynasty, thousands officers were cooked, be-headed and even skinned alive, and some still had to come to govt to work during the day and returning to jail at night (because everyone is putting into jail).. even that didn't stop corruption. and nowadays many Chinese travel to Japan to buy these.

so that's a bad thing?

Can someone explain why Buffett issue yen based bond while investing in Japanese stock? I see the point that he can hedge the currency risk by financing his stock purchase with Japanese yen borrowings. but isn't the point of buying Japanese stocks is because he want to diversify a bit from USD? So , shouldn't he just exchange some USD into JPN, and use the JPN to buy stock? Sure, the yield of the bond is very low, but still he is taking currency risk. I am asking this because I am thinking to buy some foreign stocks in IBKR, but I am not sure if I shall just borrow in margin in the foreign currency (thus currency hedged), or exchange USD to fully pay for it.

I think Hermes is like 50+% of revenue from china. Apple is 20%

nobody can resist durian. Not even Bill Gates. http://xhslink.com/a/REnIFEfdcI4bb

you guys talk about that spx, BrK overvalued. What is undervalued nowadays? My local housing price practically doubled from 2 years ago. Rent is also up too. Gold is up 30%. Brk is relatively undervalued compared to everything. Oil is probably the only undervalued asset out there, because it was artificially held down by Arab, but it cant last forever, just like all fastings.

strategically could also make sense because the canadian company makes heavy crude and oxy/american companies only make lighter ones.

could it also be Parkland in Canada? https://www.reuters.com/markets/deals/sunoco-buy-parkland-9-billion-deal-2025-05-05/#:~:text=May 5 (Reuters) - U.S.,Parkland's largest shareholder immediately criticized. When Buffett mentioned the 10b deal, he looked at Greg (who of course is a Canadian)

One thing i noticed is Buffett saying “years of drinking coke has not done much damage to me”, etc.. that to me signal Buffett currently has no serious health issues.

“The brief was authored by Donald Verrilli, a partner at the law firm Munger Toles and Olson and a former solicitor general of the United States” https://bhr.stern.nyu.edu/quick-take/over-500-law-firms-challenge-trumps-attack-on-the-rule-of-law-but-where-are-the-major-firms/

I think i read somewhere that Olson’s law firm is involved with some sort of campaigns/protest against Trump. This could potentially bring trouble to berkshire..

He’s truely surprised Buffett is retiring too. I think he was initially bitter being asked to leave, but now feels much better after realizing it was not about him — Buffett had this plan that Buffett himself is also giving the control to the next generation. Buffett is fair to him.

I think there's a bit of sacrifice on the part of Buffett and Olson, by stepping aside now , so BRK and all shareholders can have a smooth transition, while they can watch on the side as a backup.

From ChatGPT: -- At the 2025 Berkshire Hathaway Annual Shareholders Meeting held today in Omaha, Nebraska, several prominent figures from the business and political spheres were in attendance:([Business Insider][1]) ### Notable Attendees * **Tim Cook**: The CEO of Apple Inc. was present at the meeting. Warren Buffett praised Cook's leadership, noting that Apple's stock has increased nearly 14-fold since Cook became CEO in 2011, driving its market capitalization to over \$3 trillion. ([Business Insider][2]) * **Hillary Clinton**: The former U.S. Secretary of State and 2016 Democratic presidential nominee attended the event, highlighting its significance beyond the business community.  * **Bill Gates**: The co-founder of Microsoft and longtime friend of Warren Buffett was spotted at the meeting. ([NBC Connecticut][3]) * **Jamie Dimon**: The Chairman and CEO of JPMorgan Chase was among the attendees, reflecting the meeting's importance in the financial sector.  * **Li Lu**: A respected investor and founder of Himalaya Capital, Li Lu was also present at the gathering. ([avgunicorn.com][4]) * **Mohnish Pabrai**: The value investor and managing partner of Pabrai Investment Funds attended the meeting, underscoring the event's appeal to prominent investors. ([avgunicorn.com][4]) * **Guy Spier**: The author and investor, known for his value investing approach, was among the attendees.  * **Tobias Carlisle**: An investment manager and author, Carlisle's presence highlighted the meeting's draw for financial thought leaders. ([avgunicorn.com][4]) --------

It's actually K1, not PFIC specifically. But PFIC will issue K1? This is the answer I got from Google about "tax bomb": --- A K-1 received in a retirement account, especially an IRA, can potentially lead to unexpected tax consequences, sometimes referred to as a "tax bomb". This occurs because certain types of income reported on a K-1, particularly Unrelated Business Taxable Income (UBTI), can be subject to tax within the IRA, even if the IRA itself is tax-exempt. [1, 2, 3, 4, 5, 6] Here's a more detailed explanation: Why K-1s can be problematic in retirement accounts: [6] UBTI: Unrelated Business Taxable Income (UBTI) is income earned by a tax-exempt entity (like an IRA) from an active business. If an IRA invests in an unincorporated business (like a gas station, grocery store, etc.), the net income generated can be subject to UBTI. [6] Taxable Even in Tax-Deferred Accounts: While traditional IRAs and 401(k)s offer tax-deferred growth, UBTI earned within them is not tax-deferred. It's taxed at the same rate as ordinary income, potentially increasing the overall tax burden in retirement. [1, 2, 3] Schedule K-1: A Schedule K-1 is a form that partnerships use to report a partner's share of partnership income, deductions, and credits to the IRS. It also reports this information to each partner. If an IRA holds a partnership interest, it will receive a K-1. [1, 7] Taxable Events: If an IRA holds an investment where the gross UBTI exceeds $1,000, the IRA may be subject to the UBIT. [5] Roth Conversions as a Solution: [2] Roth Conversions: Converting traditional IRAs or 401(k)s to Roth IRAs can help mitigate the tax bomb. While you'll pay taxes on the conversion, your future withdrawals from the Roth account will be tax-free. Tax-Free Growth: Roth IRAs offer tax-free growth on investments, making them a valuable option for managing future retirement income. [2] Consult a Financial Advisor: [4] Personal Circumstances: The specific impact of a K-1 on your retirement account depends on your individual situation and the type of investments within your account. Expert Advice: Consulting with a qualified financial advisor is recommended to understand the potential tax consequences and develop a strategy for minimizing them. [4] In summary, while K-1s are a common part of investing, particularly in partnerships, they can pose a significant tax challenge when held within retirement accounts. Understanding the implications of UBTI and considering strategies like Roth conversions can help prevent the "tax bomb" from exploding in your retirement years. [1, 2, 3, 6] Generative AI is experimental. [1] https://www.irafinancial.com/blog/what-is-a-k-1-and-how-does-it-affect-my-ira/ [2] https://www.ubs.com/global/en/wealthmanagement/insights/marketnews/article.1662351.html [3] https://seniorplanet.org/articles-the-retirement-savings-tax-bomb/ [4] https://irahelp.com/forum-post/16416-k-1-income-within-ira/ [5] https://www.retirementwatch.com/yes-ira-taxed-even-roth-ira/ [6] https://www.madisontrust.com/selfdirected-ira/rules/ubit/ [7] https://www.taxact.com/support/1606/schedule-k-1-form-1065-part-ii-issued-to-ira ---------