DooDiligence

Seems like the guys at TRC are as stupid as whoever tenders their shares. https://www.massdevice.com/edwards-adds-1b-to-share-repurchase-program/

Why :o would anyone take TRC up on this? https://www.prnewswire.com/news-releases/edwards-lifesciences-recommends-stockholders-reject-mini-tender-offer-by-trc-capital-corporation-300860723.html

OXY + APC = WOW https://twitter.com/mr_skilling/status/1137031496986955776

The Ballad of Buster Scruggs on Netflix. Funny, tragic, sweet to super sad & odd. Liked it.

Should be a lot of chewing sounds from WEB while crypto boy tries to pry $100B out of him.

Uncle Carl doesn't like the Berkshire financing deal with Occidental. The suit questions Occidental Chief Executive Officer Vicki Hollub, who fended off a competing takeover offer for Anadarko from Chevron Corp., as well as her deal with Buffett. “A ninety-minute deal ‘negotiation’ with one of history’s canniest investors, is no place to gain M&A experience -- at least if you care about protecting your stockholders," the suit said. The suit also criticizes the $8.8 billion agreement to sell Anadarko’s African assets to Total SA. “From all appearances it seems that Occidental sold these assets in a quickly arranged fire sale before it even owned them.” https://www.bloomberg.com/news/articles/2019-05-30/icahn-challenges-occidental-s-hugely-overpriced-anadarko-deal

I bought more BRK (also). I wish it'd absolutely tank.

Netflix - Rush: Beyond the Lighted Stage I wore out 2112 when I was a kid & have liked them ever since. This documentary shows a trio of unique & amazing musicians who are also great guys. Very down to earth & no overblown egos. What a body of work too.

What is RuleNumberTwo again? https://www.collaborativefund.com/blog/five-lessons-from-history/ "Long-term success in any endeavor requires two tasks: Getting something, and keeping it. Getting rich and staying rich. Getting market share and keeping market share. These things are not only separate tasks, but often require contradictory skills. Getting something often requires risk-taking and confidence. Keeping it often requires room for error and paranoia. Sometimes a person masters both skills – Warren Buffett is a good example. But it’s rare." Nice :) “The dead outnumber the living fourteen to one, and we ignore the accumulated experience of such a huge majority of mankind at our peril.” --- edit: Lesson #2 sounds a lot like Musk. oops, another edit: (should stop commenting as I read) (the author gets to the parallel to Musk)

I’m sorry, must be missing something, how does this relate to my post on GEICO’s value? I’m very familiar with insurance regulatory capital req’s. In 1995, tangible net worth for Geico was 1.9B and surplus at end of 2016 was 15.7B suggesting that a significant part of statutory operating income (including the 15.5B of pre-tax underwriting gain) was retained at the sub level. In the 2018 report, Geico's float is stated at 22.1B. The 2010 report has interesting comments about intrinsic value of Geico, referring to the fact that the intangible value paid in 1996 for policyholders stood at 97% of written premiums. Adding the 2016 surplus of 15.7B to 97% of 2018 written premiums (33.1B) approaches the 50B mark. Geico does not have the same potential for growth now but interest rates are lower and perhaps will stay low. @DooDiligence Thank you for the corrective due diligence as León Gieco is the Argentine Bob Dylan. Nice, but does he generate float? ;) Here's a fun non-GIECO excerpt from the 2010 BRK AM, about the importance of Ajit Jain (it starts at about 01:31:00) I like it when Uncle Warren says "Every year I think our float has peaked."

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ There, fixed it. :)

Buffett on mixed martial arts training. https://www.martialdevelopment.com/warren-buffett-on-mma-training/ ;D

I wish we'd see another micro crash in BRK on Tuesday. I also wish I wasn't so tightly anchored to my $193.58 average price.

Let Jeff and you be excused. Jeff has posted that he does not consider himself a slacker, - so I assume he was buying at the broker, posting here, reading chords, singing & playing piano or guitar - all in one big bunch simultaneously - multitasking is hard. I was confused after pondering the mysteries of the fully diminished 7th chord. Only hardcore band geeks will get this.

Haha. Yeah, they left me out of the count. I just assumed everyone one this site, wisely, had me on ignore. Sorry, I didn't count. I wrongly assumed DooDiligence could count. :) Nobody is on ignore (for sure.) Chalk it up to poor analysis. At least I'm consistent.

Me 3 (BRK.B)

Screw my previous goals, i’m all in on this one. Seriously?! Surely you can think of better things to do if you're ever in a whorehouse ;) Wait, there are other things to do in a whorehouse? ??? You have to pace yourself.

Outstanding comment but I doubt it. Professionals know the value of what they possess. I suspect that only those who think they're above selling their bodies give their bodies away free for music. Funny old world! Some business owners aren't very disciplined with pricing. Buy a ticket to Brasil. Unlock some value. You don't even have to be able to play piano.

Screw my previous goals, i’m all in on this one. Seriously?! Surely you can think of better things to do if you're ever in a whorehouse ;) If you're a competent pianist in a whorehouse, you will be hip deep in free poon. I could draw you a map of Brasil.

The last $100 hamburger I had was in a PA-18-105. It would practically leap into the air & was pretty good on gas. You could land it nearly anywhere. Yep. I'm looking at a Tecnam Astore. Hard to justify today given other activities competing for my time (golf, boating, traveling, etc.). Very expensive when could only use several times a month. Greater wealth would make it possible to enjoy the flying experience rather than worry if the cost per hour was worth it. Holy cow, I just looked up Super Cubs on Trade-a-Plane. I thought they'd be a fun & affordable option with little or no AD's to service since they're so friggin' old. https://www.trade-a-plane.com/search?make=PIPER&model_group=PIPER+SUPER+CUB+SERIES&s-type=aircraft&user_distance=1000000&user_zipcode=32507 Turns out they're more expensive than a loaded SUV (a lot more fun though).

Screw my previous goals, i’m all in on this one. Screw my previous lengthy rationale for financial independence, I just want to play the triangle in a house of pleasure More cowbell.

To play piano in a whorehouse.

Valid career move. Does anyone know if Charlie plays piano? --- 'This is my business, so I was kinda surprised', Bill Gates on Munger: … 'when discussing venture capitalists who defend stock options he deems them' "no better than the piano player in a whorehouse". https://medium.com/@victorosyka/summary-poor-charlies-almanac-book-6d50bd73258f

The last $100 hamburger I had was in a PA-18-105. It would practically leap into the air & was pretty good on gas. You could land it nearly anywhere.

Which beach is the question? San Diego area, probably the home itself worth around 1.5m :P NW FL has some of the most beautiful sugar white beaches in the world & it's very affordable. You can get a bangin' beachfront condo for less than a million. --- Independence to do what I want. Less stuff to chain me down.