DooDiligence

Thanks for that thoughtful outline. I did watch / listen to the Julian Brigden interview yesterday and I get his bullet points, but personally believe he gives too much credit to the thought processes of the big Cheeto. Smooth brain plan: 1) split up NATO and serve Europe to Soviet Union, 2) kill economy to create social unrest, 3) crown self emperor of NA, 4) get rid of every admin who helped and may be able to usurp. Change my mind ??? edit: forgot to add 5) buy more golden toilets with bigger bore. .

Cheeto seems intent on creating the opposite.

Speaking of banana republics, I saw this at a local festival today. It was chilling. The movie didn't cover Cheeto wannabe Jair Bolsonaro, but Brasilian prosecutors are certainly all over him. https://www.npr.org/2025/03/26/nx-s1-5341507/bolsonaro-brazil-trial-coup-attempt Bolsonaro has repeatedly praised the military dictatorship and said Paiva got what he deserved. === South Korea's appears to be taking care of business too. https://usali.org/usali-perspectives-blog/south-koreas-president-on-trial-an-explainer === The pitchforks will come out in the US when stagflation digs in. .

All he has to do is continue the present course and the dollar will devalue on its own. Toss in a US bankruptcy filing to speed things up.

You should go on Fox and say that.

Dominos [let them eat cheap pizza as stagflation takes hold] I'm finding that although I like marking up paper copies, it's easier to cut and paste for a posting of highlights online. Basically, these guys are still doing mid to upper single digit increases in business and profitability. Order counts are up and the goal of pushing people to pickup vs delivery is working. Uber eats is around 3% of business [the platform provides orders only while they use their own employees for delivery]. The biggest variable cost is cheese which they get on LT contracts from a single vendor. Finally wrote off the master franchisee in Russia [who filed for bankruptcy after not sending a single payment to DPZ since the invasion of Ukraine]. Also sold better than 50% of their equity in DPC China for $82.9m [went from 18ish million shares to 8ish million]. Supply chain is the money maker and they incentivize franchisees to purchase with a 50% pre-tax profit share for those who buy 100% from the system. Buybacks continue at a pace of $270-327m per year. Debt looks large but manageable. CAPEX $113m 2024, $105m 2023, $87m 2022 ($10m +/- per year has gone to company owned stores) edit: I like their honest and open reporting and the fact that they don't try to hide things like the Russian experience or the sale of a huge portion of DPC Dash China. They focus on pizza, tech, franchisee's and free cashflow. Share price just plods along. I wouldn't be surprised if this got bought at some point.

Yes. Without question.

Great business. IIRC mostly franchisee owned stores + Motion Industries. This is one that I sold a long time ago and should have kept.

If only there had been some signs.

Business might be booming here too. https://charterbrokerage.net

Big TAM => trading activity minimized

Personally, I believe the intent is to tank our and the worlds economy, create social unrest and then...

I signed in to my Fidelity account and went to the Documents / Proxy Materials link. From there I choose Berkshire from the list and get sent to: https://east.proxyvote.com/pv/web with a bunch of random characters added This is done through a secure connection. I did this 2 times just now and both times the url was appended with a different ending which I assume has to do with a secure connection between my Fidelity account and ProxyVote. Do you own BRK? If so you should be able to do the same. The link to request paper reports will be as shown in the image from my previous post.

It's almost as if Idiocracy was a documentary. It's also as if DEI is bad except when it's not.

The proxy link trick worked! They sent me 2 copies of the latest AR and proxy statement along with GEICO and NFM marketing flyers.

These DEI mandates sure are tiresome, especially when they come from an administration that hates them so.

I've been investing off and on since the 1990's. The off time was around 1999 when I quit working offshore to start a business, and all my cash went into that abysmal failure. I started back again after returning to the offshore industry around 2008. Nothing that I did before coming to CoBF was a result of anything more than hot takes from ValueLine pages. I found this forum around 2010 or so and didn't understand most of what you guys were saying so I kept my mouth shut (probably should have maintained this discipline). Fidelity says I did 24.8% in 2023, 12.1% in 2024 and 5.2% YTD. That's all the data I see, and to be fair I wasn't doing anything that resembles what I'm doing now. I've bought and sold a lot of things (some losses from mistakes and some lucky run ups). I've been intent on becoming less active in the markets and took last year (and the first part of this year) to pull weeds and water flowers. It's an unproven strategy so far. Most posters who've tolerated me over the years will attest to the fact that I can be a dumbass. edit: forgot to add. As to returns, I quit working in December of 2016 and my portfolio has continued to grow with less than 4% drawdowns. I did receive an inheritance that increased the portfolio by 1/3 when my Mom passed 2 years ago, but honestly, I didn't need it.

I looked at Fairfax and just found Berkshire easier to understand. To be honest, I haven't spent a lot of time reading about Fairfax.

[moved from what are you buying now] BRK.B 21.6% / DPZ 9.6% / EW 13.7% / GOOGL 9.9% / NTDOY 23.9% / NVO 18.3% Weights based on market prices 27 Mar 2025. Debt free with cash reserves for 3-5 years expenses + generous travel. Investable cash 3.1% edit: cash reserves for expenses are not included in weighting percentages. I may be an idiot for doing this but at least I'm a happy idiot. another edit to include initial purchase dates, share add dates, and my stupid thesis for each: BRK.B - 2016 & 2021 [CoBF'ers like this stonk and so do I] DPZ - 2021 [I enjoy their cheap pizzas & the franchises cash flow out quickly] EW - 2013 & 2022/23 [everyone has a heart except the tin man] GOOGL - 2022 [it's a verb] NTDOY - 2021 [see Crossroads Capital thesis] NVO - 2016 & 2024/25 [people prosper & then eat too much] May include slight inaccuracies on adds. .

Added, even more NVO as it went sub $70. I'm just about out of investible cash & thinking about calling it a day. Might just stare at my 6 company portfolio for the next 5 years. I'll likely trim here and there (if I get lucky) and something starts looking toppy, but otherwise I think I'm a hodler. It would help if I could avoid looking at quotes. Might have to go somewhere with limited internet for a bit.

Meanwhile: https://www.reuters.com/business/healthcare-pharmaceuticals/novo-nordisk-cap-insulin-prices-minnesota-settlement-2025-01-27/

How do you say "Yee Haa" in Danish?

More NVO.

Same. Shareholder meeting tomorrow and hopefully we'll see a repeat of last years share repurchase program. Also, this goes ex-dividend in a few more days and I'm reinvesting. We'll see if being greedy when others are fearful pans out.

Added more NVO and will probably do it again.