DooDiligence

FUL (smallish $2.3B mkt cap.) MMM (largish $94B mkt cap.) or a home builder?

Didn't law enforcement gather a lot of evidence? Just because this turd offed himself, doesn't absolve anyone who was implicated. Does the investigation just end?

Again, BRK.B & WFC

Saw this posted on another board today as well http://sabercapitalmgt.com/wp-content/uploads/2019/07/WFC-Unexciting-Idea-But-Exciting-Value-2019-07-01.pdf Wells looks good to me. I hope it's correct that Berkshire can stop selling. Nice. Rings true. Sounds like a good Peter Lynch investment story. With a front run.

Added to BRK.B Started a position in WFC, pretty much because of the last half dozen or so posts by koshigoe. http://www.cornerofberkshireandfairfax.ca/forum/profile/?area=showposts;u=9320

Nice. Did bitcoin boy get his lunch yet?

BRK & VDE

I hope he didn't buy squat. More cash piles up. Shares go below $200. (beep, beep, beep - trucks backing up) Then they start buying shares over the next ? years (or not.) Great bunch of businesses. It's like an Easter egg.

I get that you think Einhorn is an idiot, a point that has been repeated ad infinitum on this board in recent years. Do you have any actual thoughts on the point he's trying to make here? I thought the Pets.com-Chewy parallel was an interesting one. Of course Einhorn leaves out alot, like that Pets.com was nearly pre-revenue when it IPO'd. Chewy is an actual business. Pets.com was never much more than an idea. More broadly, I think the profitability of selling dog food on the internet is still an open question. Zooplus in Europe looks like it operates around break even. Even more broadly, I agree with Einhorn that many US companies seem priced for something close to perfection. For what it's worth, when I was at UPS I remember whenever the Chewy's contract came up for bid UPS pursued it hard. Dog food deliveries were (for UPS) high margin. Dense heavy product packed in a box as small as possible that was pretty much a recurring monthly shipment. Pet food deliveries were always increasing yoy. Again, from Chewy's perspective can it be profitable? I don't know. All I can say is, the demand seems to be there for the product and delivery service. Customers had nothing but good things to say about it. Women loved not having to pick up 50lb bags at the grocery store. Cat litter is also another big one. That's really interesting, thanks. From Chewy's website FAQ: "Orders over $49 ship free! All other orders ship for a flat rate of $4.95." I wonder how much their average cost to ship a 50lb bag of dog food is? IDK but Amazon will ship a bag costing $26.74 for free. https://www.amazon.com/Purina-Chow-Complete-Food-Bonus/dp/B00PFXFH6O

This might have something to do with it too. https://cointelegraph.com/news/number-of-crypto-notables-on-buffett-lunch-guest-list-grows

The roll of luck in investing & life is like a dividend for hard / smart work.

Looks kind of like a Punnett square ;) http://scitechconnect.elsevier.com/lucky-gene-clover/ Statistically there is only a single four-leaf clover in 10,000 but, as usual, statistics alone do not tell the whole story. A clover is just one part of the whole clover plant, which can cover a large area. So if you look hard in the vicinity of a four-leaf clover, there is a good chance you will find at least a few more. My take from this, be grateful & ride your lucky streaks hard. --- Paraphrased Garth Brooks lyrics as counterpoint to the Dalai Lama: She wasn't quite the angel that I remembered in my dreams And I could tell that time had changed me In her eyes too it seemed We tried to talk about the old days There wasn't much we could recall... Some of God's greatest gifts are all too often unanswered... Some of the God's greatest gifts are unanswered prayers. (insert favorite God or real smart dude who never claimed to be a God)

I need to re-read it too. The 1st time I read it I was totally in flow for a month +/- & then it went away. Being less self absorbed makes you really powerful. Keeping your thoughts to yourself magnifies that power.

This would do wonders to help people grow up. Personal sacrifice has taken the back seat to "me too" - to the detriment of the country. Dale Carnegies' principal #1 - Don't criticize, condemn or complain. I find this very hard 2 maintain if I look at Twitter all day long. Before Summer started, I was only allowing myself to visit Twitter for the 1st 7 days of the month. I'm going back to that as of now.

A neighbor of mine took over an old hardware store down the street from my house & turned it into an Ace in 2009. The old place was super unorganized but everyone loved the owners & it was convenient. The new owners are great & prices are competitive with Lowes, which saves me a 30 minute drive. (I can ride my bike to the Ace.) The new(ish) Ace has thrived & he's added a rental business & most recently, a large warehouse in back to store more materials. --- Interesting story on the coop structure of Ace, https://www.forbes.com/sites/clareoconnor/2015/02/11/how-ace-hardware-turned-corner-stores-into-a-4-7-billion-co-op/#5588d26f52e1 Too bad BRK can't buy this business.

Crap, NOLA can't seem to get a break.

Li Lu & Philip Fisher. Even before reading this, my plan had become to slowly move more into Berkshire & rental homes. I won't achieve Li Lu returns but I'll sleep well. I am not worthy.

That guy's appropriately named.

Is there a reason why the shares get converted before being gifted? Yay! :) Thanks

Comments? Disclaimer: I don't understand the implications of this verse & am posting simply because I enjoyed the artistry & wanted to share. ;D

Is there a reason why the shares get converted before being gifted?

Speculations about how much cash will come to Omaha. “It’s probably been a successful investment,” Meyer Shields, analyst at KBW, told The Post, estimating it could now be worth between $1 billion and $1.2 billion. --- This guy's never going to get to ask Omaha a question in public. Meyer Shields, of Keefe, Bruyette & Woods, is among the critics of Berkshire’s disclosures, saying in an April 28 report they leave investors “disproportionately reliant” on Buffett’s public persona and past investment successes rather than actual knowledge about the company. https://www.reuters.com/article/uk-berkshire-buffett-disclosure-idUKKCN1SA0QO and http://fortune.com/2012/05/05/the-only-analyst-who-doesnt-like-buffetts-berkshire/ He does put out quite a body of analysis throughout the industry though. --- In other news, a soft market except in cyber & errors and omissions (E&O) insurance? https://riskandinsurance.com/a-buyers-market-2/ https://www.biberk.com/get-a-quote/errors-and-omissions-insurance --- Seems like Berkshires insurance operations should provide a great source of information on potential investments / acquisitions & also red flags for who to stay away from.

Off piste, je suis désolé.

Not to derail the thread, but I actually think you can. For instance I have like $200 sitting in my file cabinet, it’s been there for years, and it likely will be there forever. If the government takes that away and hands it out to 10 alcoholics on the street I’m reasonably sure most of them will spend it on their liquor of choice within a day or two. I guess we can reasonably call that “demand creation.” Now if the government finances the handout by printing money instead, things become a bit more complicated but more or less the same thing should happen in the end. The only difference is that my cash holdings gets diluted by the money printing instead of going down in nominal terms by government confiscation. Now whether that’s good government policy is another matter … which I guess we can all have fun talking about in the Politics section. Yes, I agree. You should only be required to pay taxes with money that you plan to never use. https://www.newyorker.com/magazine/2015/11/23/printing-money-books-john-cassidy https://www.debate.org/opinions/should-the-us-eliminate-all-taxes-print-the-money-we-need-for-government-spending-and-simply-allow-inflation-to-increase --- How do you think crypto will fit in to all of this? I promise to never take uninformed jabs at crypto on here again.

Good idea. Are there any legislators talking about this kind of program?