Parsad

This is if you believe in technical analysis. I give it no credence whatsoever. If the fundamentals look like they can be turned around or have been turned around, or you can buy the company for less than liquidation value, then it may be something worth looking at. Generally, a 52-week low stock is there for a reason. Cheers!

Absolutely true! Sipping some nice brandy works too. Helps with any chest congestion and clears the sinuses! Covid, flu or nothing at all...highly recommended. We've had a ton of snow since Christmas, and it's been nice having a drink every couple of days while you watch the snow. Cheers!

We had a run of it with family and friends during the holidays. All had mild to medium symptoms...similar to the flu...some with fever, some with no fever...sore throat, fatigue, body aches. They were all fine after a couple of days. I've had two vaccines, plus the flu shot and had no symptoms during the holidays, even though I met with some of the infected when they would have been contagious. Frankly, I think I had Covid right during the beginning of the pandemic when my grand-uncle died from it. I was sick around then, and have not been sick since, even though I do everything a normal person would...no flu, no cold, nothing! Knock on wood! Cheers!

Will we be ready when the music stops? https://www.barrons.com/articles/asset-prices-are-climbing-as-debt-soars-will-we-be-ready-when-the-music-stops-51641311454?siteid=yhoof2 Cheers!

https://finance.yahoo.com/news/fairfax-declares-annual-dividend-124500768.html Cheers!

There's a difference. Munger simply wanted to be financially independent, so that he could do the things he enjoys. Buffett wanted to be financially independent, but also wanted to be the richest man on the planet. For Munger, he wanted to get there quickly if he could. For Buffett, the game was long and was about accumulation. Munger loves the Daily Journal, that's why he's managing the capital...so that it will go on forever. Otherwise he wouldn't bother. Cheers!

How do we quantify for that? It's not like the largest companies in the past didn't have huge, extensive global businesses...KO, MCD, SBUX, GE, GM, WMT, XOM, DOW, etc. Remember, the rest of the world is also doing extensive business with the U.S., so it's kind of a wash. If anything, you would have to add the market capitalization of other countries to the market capitalization of the U.S...and divide by the U.S. GDP combined with the GDP of the other countries...and most global markets aren't undervalued either. Cheers!

Yes. Does this look like 1998/1999 again? Do we see a split in value stocks and growth stocks for the next couple of years? Cheers!

60% drop for a company that is still making money hand over fist and probably will grow at better than 15% annualized for the next decade...wildcard is the CCP. We shall see if the old man still has his mojo or if he's used his last ball as you suggest. Cheers!

Agree with Dazel...although, the picture never came off my mantle/wall...it's always been there! Cheers!

Without understanding macro you cannot accurately hedge things out...you're just guessing then. Cheers!

Combination of Fed buying assets across the board and Treasury issuing large amounts of debt at record low rates. I remember Sam Mitchell saying in 2008, "You cannot ignore the macro when the macro becomes obvious!" I'm not one to follow macro, but this is really starting to hit me in the face. I see increasing earning power and relatively low rates for now, but I cannot see low corporate tax rates and net profit margins remaining as desirable as they are today. Something has to give. Cheers!

The other part of this is to get market cap versus GDP down to historical levels means either or both of these: - A drop of up to 50% in market capitalization or an increase of GDP by at least 50%. I don't see the latter happening...4% annualized over five years means an increase of 22%...over ten years and you are getting to 50%. If GDP can get to $28-30M or so in five years, you would still see markets drop about 40% to get to historical levels. Cheers!

I would agree with you, but it is quite the coincidence that Fed assets matches the overvaluation/distortion exactly. If asset values rose with an increase in Fed assets, an unwinding will do what? The question is can they control the unwinding and interest rates in such a way as to make it painless or relatively painless. I find that hard to believe. Cheers!

For our more astute board members: What is causing such distortions in this accurate historical ratio that could justify where it is today? Either we are in for one hell of a correction or markets are broken. Cheers!

She's terrific and a talented actress as well! I would recommend anything with Karen O and Danger Mouse as well. Arguably one of the great front women of all time...formerly of the Yeah Yeah Yeahs. Cheers! https://www.youtube.com/results?search_query=karen+o+and+danger+mouse

Happy 2022 to you all! May it be a healthy and prosperous year. RIP Betty White! Cheers!

Replacement costs are also rising as material, labour, and commodity prices are up. I would imagine insurance premiums will continue rising into 2023 and possibly 2024 for most lines of insurance other than specialty. Cheers!

It's always a "free-market" issue when it involves politicians. If you become a Congressman, Senator or President, or MP, Senator or Prime Minister, you should not be able to invest in anything other than fixed income instruments and/or subjected to strict trading limitations, or you have to put your assets in a blind trust. That should be the deal for getting a platinum pension plan, a position of power, and eventual power private sector positions. Cheers!

Munger...both Lee Kuan Yew or the CCP. Cheers!

Wishing you all a Merry Christmas and Happy Holidays! Thanks for all your contributions through the year. This site doesn't work without all of your input. Cheers!

While Berkshire owns several high capex businesses, remember that they also own huge stakes in businesses that benefit from inflation or can price their products with inflation...think Apple, Coca-Cola, See's, retail businesses, etc. Unlike many other companies, Berkshire's high capex businesses are 1st or 2nd generally in their respective lines of business...that provides some ability to absorb cost and pass it on. Also, insurance is a business that can price policies with inflationary pressure and insurance is by far Berkshire's largest business and always will be. Cheers!

$900M capital raise from partial sale of ORH is complete: https://www.fairfax.ca/news/press-releases/press-release-details/2021/Fairfax-Announces-Successful-Completion-of--CPPIB-and-OMERS-Investment-in-9.99-of-Odyssey-Group/default.aspx Let's see how many shares are tendered in the buyback over the next few weeks. Cheers!

Insured losses are around $450M, but the gross losses will be far, far higher. Apparently, much of the flood plain region was not insurable privately, so much of the losses from my original eyeball estimate will have to be covered by the provincial government. Good for private insurers like Fairfax, but a huge burden on the public government and taxpayers. Cheers!

Not directly, but funded or seeded many that did. Apparently also launched his fund business with money from mobsters. Cheers! https://www.deepcapture.com/2008/03/michael-steinhardt-when-the-bad-guys-came-to-town/