thowed

AMT - am out of touch, but from memory, think you could argue that it's so big now it's harder to grow at prior rates, PLUS most importantly it was a long-term rates-going-down play, which may not happen again for a while. Respect for piling in on FICO - right now looks like a good move. CPRT - I need to do more work on this, as is certainly tempting.

Glad you're having fun - we went in Spring and was as joyful as I remembered as a kid, though I confess I shelled out for the queue jumps for the family as when you're coming from the UK, you're only doing it once! Though the App can be a pain. Was particularly wowed by Hollywood Studios which was new to me. Anyway, enjoy the rest, and back to the politics...

Yep - fairly unchartered territory, so as you say, either a 'generational opportunity' (I mean, not seriously, but you know what I mean) or the compounding machine is broken. I don't know, but feel like the ship has been built pretty durably. (though I am a biased holder...)

@73 Reds @Daphne I think you guys are getting in a twist - you're less far away from each other than you think. Of course FFH wants to get a good deal. However, if you want people to come to you with future deals, you want to have a respectable reputation compared with the competition. So I think Daphne's saying just don't screw that last penny from them, as word will spread & people won't come to you in future. Otherwise of course you're playing to get the best deal you can

I'm about equal in CSU and TOI - I've liked the TOI deployment this year - and have added to both this week, but have about 4x in SGN - I'm in Europe so easier to buy - I agree & hope it will outperform. An opportunity that only smaller investor can do really with the liquidity. Also have some Lumine - like SGN, think it should do well but lumpy as acquisitions less frequent. Tbh have found this week exhausting with these & FFH in terms of holding nose & adding - I know it's a long game, but am really hoping earnings are decent, just so I don't feel like I'm throwing money away by adding too early! How are you weighted here?

Yes, I added to SGN today.

Never thought I'd see CSU and "Hardcore Value' in the same sentence! That was a crazy finish yesterday.

Added to: CSU SGN LMN Not sure why CSU so unpopular today. Hoping TOI goes down more today so I can complete the set...

Warren in his PA, I hear.

Yep, they're a division of Penguin Random House.

FFH, CSU, TVK - my star Canadian trio.

FFH

Nice. Has come right down, and feels like another acquisition would move the needle a bit. From memory they are debt-free. Nyland is sharp. Might have a think myself...

Fairfax, BRO, CASH, NBN - almost the same!

Added to BRO.

Couldn't resist adding to FFH under 2450 - I take comfort that they're buying back shares at this price. Also picked up a bit of TOI under 270 - not cheap, but nearly at price it was when Asseco stake was bought at end of January.

Not much to add to the above - I don't think anybody I know/knew with money back then managed their own funds - all outsourced to 'experts' who would charge a lot to benchmark hug, because lack of information made it easy to get away with. Suspect BRK wasn't esp. popular with fund managers as there were no brokers getting paid or lunched by BRK people to help promote it. I always like being reminded how lucky I am to have resources like this site, Substack etc. as otherwise would be reliant on ropey fund managers & I might not even know about Vanguard.

Really feels like some 2021 rhyming & no idea when it will stop. Part of me wonders if will last the year, like then, and I should look at buying index Put hedges round about then. But oof who knows.

That's my conclusion - on one hand I prefer Hermes as management family so impressive (though guy who lost his shares a bit of a worry!). On the other, Ferrari may be more inflation-proof as all big-ticket purchases - bit like a company that ONLY sells Birkins. Impressed by CEO - still unsure about Elkann but at least he thinks long-term. Pleased to see share prices drifting - perhaps they'll become less crazy & I can buy back in! n.b. LVMH - think too big, too sprawling, not convinced by next-gen of family. Share price indicates I'm not alone?

Yep - not the only guilty country - but it does drive me insane that foundational services (roads, education, healthcare) are being ignored over future speculation.

Great line - and great source of frustration!

I don't think we need to say anything more than this really. (But I will....) It was a joke. In the Land of the Free. Whether or not people found it funny (I didn't especially, though the video of Trump afterwards, which few have mentioned, was bleakly hilarious) shouldn't matter. I've heard a lot more offensive jokes in my time - and a lot more offensive non-jokes from politicians on both sides recently. I find this direction of censorship very concerning - I'm not saying it WILL happen - but if you look at history, ignoring this sort of stuff is usually how societies sleepwalk into becoming the sort of autocracies or banana republics that the US has always viewed as the enemy. Still hoping that all you smart guys on here, instead of criticising the Radical Left OR the Fascist Right, will just go for the extremists on BOTH sides - at this point I'm not bothered if it's a moderate Left or moderate Right, just people with sense.

@Milu I think some people (myself included) sometimes like a small position as a tracker/try-out - it doesn't really make sense but it somehow focuses the mind when you own a tiny bit, to see if you want to own more, or not.

Thank you @petec I now have a double digit allocation, but if you have a low-turnover portfolio, you have more time to think/worry about what could go wrong! Viking's work has been amazing, but always really helpful to have pushback too.

Nice. I bought PYPL 2026 Calls earlier this year, but sold as needed some cash & wasn't highest conviction. But feels like at this price, long-term Calls should work well.