Parsad

No need to invest in either! Like I said before, unless you are managing tens of billions, you don't need to go outside of NA. Cheers!

You should know better. Markets are not always efficient. Cheers!

Essentially that's what happens every so often. People do ridiculously stupid things because they panic. I bought Sears bonds in 2008 at 70 cents on the dollar. Not bonds out a year or more...bonds that were out less than 3 months! And at that time, Sears had enough cash on hand alone to cover operations and debt servicing for the entire year! In March of 2020, I bought Biglari Holdings for $49, when book value was over $250. They had ample securities to cover all expenses. People were worried about the pandemic and SNS' debt...even though the debt was non-recourse...it was a dollar trading for 20 cents. No speculation involved! Cheers!

Looks like M is starting to get noticed a bit. Hopefully the market recognizes value. Cheers!

Ah, no incorrect. If I walk by and drop a $20 bill, and you pick it up, you have $20. Nothing to do with quantum mechanics, handicapping or probabilities. Cheers!

No, that's not right at all. If someone offers you a $20 bill for $10, that's not speculation! Cheers!

Jimmy Buffett was sick for a few years. He's also been a Berkshire shareholder for many, many years. I would not be surprised that in the last few years, he may have arranged for the possibility of his demise and how it would affect Margaritaville. Jimmy Buffett knew what a great home Berkshire was for businesses. His family probably has little interest in running the company. It may be that he was doing some succession planning and Berkshire will play a role in that. We shall find out fairly soon! Cheers!

+1! Totally agree. Unfortunately politicians want to appease constituents. Cheers!

Nooooo! Speculation is speculation. Nothing intelligent about it. Doesn't mean you can't do it though. Cheers!

We're frickin' subsidizing people in Florida from hurricanes and flooding! We're subsidizing Californians and Seattleites from massive earthquakes! We're subsidizing Oklahomans and other mid-westerners from tornadoes and drought! We're subsidizing Alaskans because of their remoteness and inhospitable landscape! We're subsidizing the Northern East Coast from blizzards and freezing pipes! We're subsidizing the Gulf Coast from rising sea levels and flooding! Almost every region of North America is subsidized by taxpayers for something related to Mother Nature. And guess what else? Almost every one of those regions has their properties rebuilt on the same shitty location, only to have it happen again over and over and over. Everyone calls Citibank, Shittybank...but we should be calling Florida and Louisiana Shittystates! Two states where Mother Nature loves to take a dump over and over. And we keep building and building. Insurers would walk away in droves if we simply let free markets decide where they should operate and who they should insure. Yet you have a 1 in 100 year fire in Maui and we're telling them they are essentially welfare cheats. Cheers!

LOL! +1! Cheers!

The irony...I voted for Harper's 2nd term and didn't vote for Trudeau's 2nd term. Not that I think the Trudeau administration is authoritarian, but the leader is a hypocrite. Frickin' blackface while he was a teacher pissed me off! If Harper did that, he would have been considered to be Trump! I'm inclined to vote Conservative in the next election, but the candidates suck just as much as Trudeau! Frankly, I was very pleased with the NDP Horgan government at the provincial level and even David Eby has done a great job so far as Premier (and he was considered extremely left-wing, but has proven to be more of a centrist). Unfortunately, the Federal NDP is far left...so can't vote for them! Cheers!

You're right. The guy investing in typewriters is not exposed to political or property rights risk. My point is that there is absolutely zero need for an investor to accept political or property risk by investing in China. You can do perfectly fine in North America by just being patient and waiting for fat pitches. Especially if you are managing less than $150B! I'm guessing most people are. Cheers!

Ignore the twat! He doesn't know what he's talking about. Buy when a stock is cheap, sell when it is dear! The rest is just noise. Cheers!

Sun sets on Margaritaville! Goodnight Jimmy! https://www.cnn.com/2023/09/02/entertainment/jimmy-buffett-death/index.html

Well there are people invested in Rwanda, Iran and North Korea. There are people who collect cheeses, wine and cigars. I know a guy who invests in old typewriters. Tepper investing in China is of no more significance than them. Cheers!

Those costs aren't solely related to home losses or personal property...that number is related to the destruction and rebuilding of infrastructure. Imagine a 7.5 earthquake hitting the centre of Los Angeles. A lot of the loss would be related to rebuilding of infrastructure that isn't directly covered by insurance. Cheers!

Article on Florida's insurance industry and skyrocketing cost of home insurance. Cheers! https://finance.yahoo.com/news/floridas-insurance-industry-flux-idalia-011406505.html

The Chinese bank won't release the funds. We attempted numerous ways with advice from Chinese and HK experts after several attempts to just withdraw the funds and transfer to our HK bank account were declined. A couple of examples: We've tried to produce invoices from here to indicate there are expenses paid in Canada that are owed by the Chinese subidiary...the bank declined saying that the Chinese government was restricting the withdrawal. We tried to sell the subsidiary to our general manager, in turn he would transfer ownership of his HK company to us with equivalent cash...wouldn't let the Chinese transfer occur. Tried to sell to another Chinese company...they demanded audited financial statements...which we produced. Still declined the transaction. Six bloody years and still no way to get at the funds! And people want to invest in China! Cheers!

Well, it was 25 years ago as the handover was about to happen, but then they thought things would be ok and business was great. Now they are fleeing again after a significantly more dangerous crackdown on rights, etc. Problem is, Beijing has gotten smarter on how to prevent capital outflows, so many stay in HK, etc to access their Chinese bank accounts. PDH has a couple hundred thousand USD stuck in China for 6 years now from the MRI joint venture we had that was arbitrarily shut down by the CCP. We've tried numerous ways to get it out, but can't! Cheers!

It's like an Einhorn slide deck (like 150 slides) but with almost no information! Must have been put together for those with a short attention span! Cheers!

+1! 100%. Cheers!

If China doesn't respect property rights or intellectual property, how does India ever trust them? Not possible. India is a burgeoning empire of intellectual property...they aren't going to give it away for free. Partnership with China...sure. Deep alliance...I think you are right...not going to happen. India really wants access to the BRICS through any China alliance...but their bread and butter will come from the West and Europe. They know that. Cheers!

LOL! Don't worry...I eat my own cooking! Just remember to keep averaging down slowly if it goes down further. That's what keeps losses to a minimum and improves the upside if the thesis is correct. People who just bought META when I started buying obviously didn't do nearly as well as those that kept averaging down with me. It was the difference between a 20% return and a 120% return! In the mean time, just enjoy the fat 5.4% dividend that they've paid out for the last 20 years! Cheers!

He also had Resolute Forest Products in the portfolio! Maybe he came on here and listened to some of you guys. Cheers!