villainx

As someone who cannot stand Trump, and identify as extremely liberal, I'll say what NY AG did was awful. I'd go so far as say it's stomach turning disgusting.

Also value of the cash is ... cash to readily deploy.

That's the last hurdle?

Wondering why Berkshire doesn’t have an arm in its business to do CSU type smaller deals. I know in grand scheme of things it won’t be needle moving but the company already has Sees and Diary Queen, and can do more in that space. At the least it’ll build a competent group of acquirers and managers. Maybe the risk isn’t worth the small rewards, but just waiting for an elephant to come to crosshairs leaves a lot of smaller worthwhile game to pass.

So interesting! How often do you guys meet nowadays? I toyed with an investment club in college and - youth and lack of mentor/role model/proper research - it ended in a few months.

It depends on time horizon, but if quality is good, I'm okay with moderate price action. Berkshire staying in the 1.3-1.4 book range for quite a long bit of time allowed me to accumulate. And it allows for better buyback.

Thanks for this.

@gfp Thanks for sharing!

Similar. Or they enhance with idiosyncratic indexing: exposure to very different industries, markets, etc that a VOO don't often hit. At the same time, scratches enough of the itch if one likes to keep up with market/investing research.

Not the small caps stocks that I've been investing in. Or it hasn't yet.

I'm definitely been working on this. Thanks though. The way you put it is eloquent and actionable. It's hard to break bad habits.

I'm so unsophisticated an investor. Price stays low, great for buybacks, but I get impatient, should I just sell to move to something with more upside. Price goes up, what are they doing buying back shares?!?! maybe I should buy more if it keeps going up.

Picked up some SAVE calls.

My fam are mostly vegetarian/pescatarian (I'm not). But Kyotofu Fujino was completely amazing: https://maps.app.goo.gl/hF8b7VPdotVbGPzM7 It's a tofu specialty restaurant that we went for lunch before taking train back to Tokyo. This place had long been recommended to me and now I totally regret not going there during my previous visits there. Not a specific recommendation but we've always found really worthwhile izakaya, yakitori, soba, etc places near our lodging. And as much as the temple/shrine/institution is the attraction, the supporting snack/restaurant/trinket shops surrounding the attraction are worth wandering around in, Arashiyama, Kiyomizu-dera, etc have fun supporting food/shopping areas. And if you don't have time to go to a hot spring, a local bath house is fun too.

I've been working on reducing Apple % of portfolio. It was upper 40s% two years ago. Obviously, it's great when Apple has a strong year, but 2022 was complete disaster.

+48% taxable +31% non taxable +41 combined. ~40% position in Apple ... so nothing I did really mattered?

And the old thing where most companies Canadian and European companies are expected to pay dividends to have certain investors and index inclusion. Thankfully I'm not part of the highly compensated cohort that have to worry about potential taxes. Oh wait, that's the wrong kind of thankful.

I thought I was watering the flowers but some have turned out to be weeds.

once you have a model up, it’s not that much work to add companies to it, or adjust it. and it’s good for weighing various companies, looking at levers and whatnot, and to keep track of moment in time analysis (like historical track record). I agree it’s a little one dimensional but I assume it isn’t his sole basis.

If you think textile is going to make a comeback…

I completely don't remember that section from Snowball.

so the real question is preparing for post Ajit?

Happy holidays!

I've been worrying a bit about JPM Chase when Jamie Dimon retires. Dimon looks okay in the recent videos of his, but at the same time, he does look/sound older.

@schin, I'm not sure I understand your question, or your question is not clear. Unrelated, I was listening to a podcast (Animal Spirits) that was discussing Munger's interview with Becky Quick. Munger said something along the lines that he would have started investing earlier, or just generally be better, smarter, harder working at it, which would have made much more wealth. The podcasters implied that Munger was envious of greater wealth generally or envious compared to Buffets' wealth. When any simple understand of Munger would be so far from the case. If anything, my understanding is that Munger was very generous to his family and charitable giving. That he otherwise would have many times his net worth today.