Parsad

That's exactly why China would probably be more inclined to go after Taiwan, as they know that Trump would do nothing to protect Taiwan. Cheers!

I agree with you. They just have to go through the pain. And they aren't the only ones...I think most of the world is going to share a similar experience to some degree. Cheers!

Communism has nothing to do with their struggles. They acquired a lot of debt and overbuilt their cities. Transparency in their accounting is another issue. Monetary controls that restrict liquidity has damaged trust in their global payment services. Then finally you have the lack of respect for property and contract law. If they simply did what they originally set out to do...communist state control of productivity and assets...but maintained their pseudo-capitalist machinations through their businesses...and managed their debt/growth properly...they would be golden! Cheers!

I believe you said: Do you need growth for below 10x earnings? That would 7% a year or 100% every 10 years. That would not be enough unless I was a leveraged. I aim for 15% annualized with no leverage. Cheers!

https://finance.yahoo.com/news/nearly-50-000-companies-face-181828021.html Cheers!

+1! Cheers!

War, U.S. issues, Taiwan invasion...these seem like remote problems...unless Trump wins. My biggest issue is that China has always had two sets of books for their companies and the government. One that they show to the world and one that is the true balance sheet. I'm wondering if the fire power to manage credit issues/loan losses on the true balance sheet is just not there. After such a stock market rout, they are pulling money from state-owned companies with foreign accounts and in total only about $600B total in stabilization funds. https://finance.yahoo.com/news/china-weighs-stock-market-rescue-015731696.html https://finance.yahoo.com/news/china-premier-calls-better-measures-131418550.html Are they biding their time, trying to spread the massive real estate losses over a decade or two? Are they on the cusp of having no other way to deal with these bad loans? And the economy is clearly contracting, so what levers can they really pull? Cheers!

If it is going to take 10 years to double my money...then yes. Cheers!

Opportunity or deflationary/stagnant market?! Cheers!

https://finance.yahoo.com/news/china-stock-selloff-worsens-hong-050429499.html Cheers!

You mean ex-wife, huh!! Cheers!

+1! Cheers!

You sure it was an authentic Rolex? Generally, they will fix any issues related to losing time...even older watches. Also, are you around MRI's a lot or where there were magnetic fields. Rolex guarantees that their watches will keep time to within 2 seconds per day...they recommend you service the watch every 10 years. Cheers!

I think that's just Munger's personality. He wasn't miserable...just it seemed that way. The poor man could barely see through one eye and hear from one ear. Most people I've heard from that knew him said he was a very happy man considering the tragedies he went through. But he didn't suffer fools lightly, thus the belief he was miserable and disgusted all of the time...which wasn't the case. Cheers!

When I was in Hawaii, I was in the hot tub of my hotel and ran into a couple who owned a cottage there and were neighbors with the Mungers. Cheers!

Not so much of a status symbol for me...just the craftsmanship is beautiful. I've always loved watches from when I got my first one (a Mickey Mouse watch)...to my 21st birthday (my parents bought me a Gucci)...to my first trip to Omaha (a beautiful Seiko with Berkshire Hathaway logo - an absolute collectible compared to the cheap watches with the logo they've put out since)...to a Longines Legend Diver sport watch I bought on the cruise around the UK in October. I tend to buy them on special trips or occasions, so maybe I will still buy that Rolex...my 55th birthday is coming up this year, so maybe I will splurge! What the heck else am I going to do with all this money...I buy my clothes at Walmart, Winners or H&M! Cheers!

Oh my God! My back would ache all week. Funny enough, on today's news, they showed a Porsche Taycan sliding all over the place in the snow we got last night. First, who would drive that in the salt and snow, and two, why would anyone think that is a good idea after 25 cm of snow on the roads! Cheers!

I test drove a Macan, but it was a bit tight in the back seat for family...so I went with the X3. Plenty of power and comfort with the normally aspirated X3 for daily use, so I didn't need the M. Cayenne and X7 were too big for my liking...X5 had a really high rear window for some reason and the rear seats weren't any more comfortable/spacious than the X3 and then you pay $20-40K more for it. I've always liked the low seat position since I bought my first car (CRX) and then my Mini...so that's why I wanted a 911 or more practically a Cayman afterwards. But as I've gotten older, my daily driver is an SUV and I don't think I would drive the Porsche more than a few months out of the year...certainly not daily as my back would never forgive me. Thus the pragmatic decision not to buy one. I always look though...and whenever I drive by a Porsche dealership, I test drive something. Kind of like a Rolex...can easily afford one now, but can't justify buying one. It would just sit in the closet in my watch box. But every time I'm near a Rolex dealership, I try one one! Maybe testing them out gets it out of my system, so that practicality regains control of my senses! Cheers!

Thanks! The city is essentially shut down now after about 15-20 cm of snow overnight. Supposed to warm up over the next week. Cheers!

I don't think anyone is suggesting he isn't worth the pay package. Just that it's an asshole move to demand it or he won't move forward with AI development. Buffett was worth the money too, but you would never see him doing that. Yeah, not everyone is Buffett...doesn't mean we can't hold people up to that standard. Cheers!

+1! I've always wanted a Porsche 911. It's only been in the last few years where I felt comfortable enough where I could spend for one if I wanted. But I downsized to a 2 bedroom and den condo a few years ago. The great thing about my underground parking is that I just drive in one side and drive out the other. Now if I have two cars down there, they'll be touching if the door is open...I'll have to drive very carefully into the spots...and I would probably only drive the Porsche 3-6 months out of the year. I decided the comfort of just driving into the middle of both spots in my X3 outweighed the pain and hassle of buying a 2nd car...even if it's a 911! The older I get the more I'm simplifying my life...less possessions, less clutter, less of everything pretty much. Cheers!

I really admired Elon in the past, but these days he's just being a dink! This Buffett quote seems to fit here: Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you don't have the first, the other two will kill you. He's starting to remind me more and more of a burger chain owner I knew who had everything and then showed his true colors. Cheers!

That's exactly how the first episode was...so probably a good idea to watch it on the weekend with some hot popcorn and a nice drink! We got down to -14 Celsius here in Vancouver a couple of days ago. People were playing hockey on frozen lakes and rivers. With the wind chill, it hit -21 in Vancouver, which rarely happens nowadays. Used to happen a lot when I was young, but rarely ever gets that cold in the last 40 years. Cheers!

I thought he was already in there! This is long overdue. Congratulations Prem! Cheers!

I would say that number is significantly higher than $100,000 now. I think you need keep the foot on the gas till at least $500,000. At $500,000, you've accumulated multiple years of expenses. A short-term blip like short-term medical issue, loss of employment or major repair to your home would have negligible effect going forward. $100,000 today would simply be two times most emergency funds. While that protects you from going into debt, it won't drive compounding. Cheers!