treasurehunt

I bought my first B shares in February and March of 2000 for right around $1,500 per share. Still have those, although I have sold some that I bought later.

Sold some BYDDY. BYD is executing very well, but a P/E of 25 for a company that faces intense competition in all its verticals seems rich.

I have cut and pasted the chart below. It was posted on X by Ernie Tedeschi, former head of the White House Council of Economic Advisors. Anyway, this chart maps inflation-adjusted median net wealth (assets - liabilities) versus age for Gen Z, Millennials, Boomers etc. And by this metric, Gen Z and Millennials are doing better than Boomers. Your data uses different metrics - percentage of total wealth owned by people under a certain age, wealth as a percentage of disposable income etc. Arguably these metrics are better at gauging how a generation is doing financially. I think it is accurate to say that Gen Z own less of the total pie than Boomers did at the same age, but today's pie is much bigger in real terms.

Is it?

I don't think BAC is particularly cheap now and for me over time it had become too small a position to bother with. So I sold. There was no company-specific reason for my sale.

Sold the last of my BAC. It was a very nice run from 2011 till now. Thank you, Brian Moynihan!

Added to my Prosus and Tencent positions. Only a nibble though.

Amazon's Kuiper might be a viable competitor although they are way behind schedule at the moment. Apparently, half the Kuiper constellation has to be in place by July 2026. https://spacenews.com/beta-project-kuiper-broadband-services-pushed-to-early-2025/

Well, big banks such as BAC and JPM are quite constrained when it comes to growth, I think. EWBC has a chance at growing faster than these behemoths. But the main reason I kept EWBC while lightening up on BAC and JPM is that it is not as overvalued as these two in my estimation. Defining IV as the price where I can expect a 10% annual return going forward, I have BAC valued at $36, JPM at $200 and EWBC at $105. Of course it is entirely possible that my estimate of IV is off by quite a bit. Also, take a look at past growth in book value per share for these banks (I use growth in BV per share as a proxy for growth in IV per share). Annual Book Value Per Share Growth BAC JPM EWBC Since 2013 5.11% 7.44% 11.48% Since 2018 6.12% 8.95% 10.89%

Interesting. I too bought EWBC last year after SIVB went belly up, but haven't sold any yet. I have lightened up considerably on other US banks - C, JPM, BAC, GS etc - since I have about 20% of my portfolio in this sector.

Milton now up to Category 5! I hope it weakens before landfall and spares the more populated areas in Florida.

My biggest buy in the last three months is PROSY (2% of portfolio). Second biggest is HQI (1% of portfolio).

The Economist has jumped on the solar bandwagon with both feet. They are predicting a future (some decades out) of very cheap electricity, quite the opposite of an electricity crisis. I think the articles are behind a paywall, unfortunately. https://www.economist.com/leaders/2024/06/20/the-exponential-growth-of-solar-power-will-change-the-world https://www.economist.com/interactive/essay/2024/06/20/solar-power-is-going-to-be-huge The Economist doesn't really address seasonal fluctuations or problems with long duration storage. On the other hand, solar electricity production is only 6% of total global electricity production, so there is some time to solve these issues.

Aren't you ignoring the role of batteries here? CAISO has over 10GW/40GWh of battery storage. That should help a lot with handling the deeper duck curve, right? I don't see why load shedding will be necessary. https://pv-magazine-usa.com/2024/04/30/california-batteries-dominate-evening-grid-with-10-gw-40-gwh-of-capacity/

Thanks. Lots of great information in the prospectus on the non-life insurance market in India and on Digit itself.