villainx

Isn't it very likely that they'll be adding a bunch of banking stock in the near future? They have the cash on hand and it seems like the regulations were the main thing holding them back. Or prices are too high, and BRK will pounce when a reasonable entry presents itself? Likewise, the reg hurdle might have limited some of T&T's purchases? So they certainly can do something too?

Brilliant Enjoy the 2/3!

Looks like it paid off well for you. Nice call! Hardly out of the woods yet, but hoping to get there soon. If you don't mind, what is the plan for situations like these? Is there a % or price in mind, or something else? I always wonder about these - would you say it's special/unique - situations. Even with a or multiple pop(s), but what is suppose to be the exit?

How has AIG been doing lately, has thesis improved significantly? Held a few years back, but wasn't happy with progress (or loss patience). Haven't checked in on them for awhile.

I have to watch this to see if one of the company that I bought, that is now bankrupt, is featured too!

I didn't see this shared, and there's a pay or sign up wall, but there was an article about real estate brokers on the economist recently: https://www.economist.com/united-states/2019/08/29/why-americas-real-estate-brokers-are-such-a-rip-off. Berkshire has a big real estate brokerage subsidiary, right? I don't sense real threat to status quo (or direct mention of Berkshire), mainly stating the problems. But it's interesting to think about Berkshire expansion in that area (as well as Brookfield's exit?).

Yes! Thanks.

I'm trying to figure out how to invest in water too. So far, nothing especially promising.

Can I ask for your view on EW and its prospects? It's not a company that gets a lot of analysis or opinion. I'm not a very good or diligent analyst & tend to go with my gut on a lot of things. My thoughts on Edwards will be riddled with bias based on the fact that it has been the single most successful investment I've ever made. .... Thanks! I've been looking at it for awhile, but haven't gotten super comfortable yet.

Can I ask for your view on EW and its prospects? It's not a company that gets a lot of analysis or opinion.

I'm kinda assuming it's just something that Buffett has to be comfortable with and then it's going to happen in a major way. Either it will make sense or not, and when it clearly makes sense quarter after quarter, then Buffett will just own it.

I would add read up on Bruce Flatt and Brookfield, as inspiration and as stock target. Reading about Brookfield showed what a modern day Buffett or those other longer term minded value/great investor would be today. Ie, (nothing against my elders) but someone who isn't an elder and is laser focus on producing returns.

I exited my Markel position. Not sure if that'll be a long term mistake, but didn't see enough positive to hold.

I got Evicted, by Desmond, based on a basketball player's critique on Milwaukee.

Timely thread. I'm looking for worthwhile hard copy books. Want to set good example for kids.

That's what I remembered but search didn't reveal it. Thanks!

Is there a similar thread for selling? Some of the comments explaining purchase has been very helpful, and names/discussion regarding sales should be interesting as well. Thanks.

Good interview! No mentor fatigue yet. =P

I have a continuous big problem with "outsider" and cable cowboy where John Malone seemed to make moves to enrich himself and his insider buddies. But there's no denying that as a from a distance mentor, Malone remains somewhat aspirational. I think the mentor part that is slightly confusing, based on what I follow from Liberty from this board, is that he continues to respect and invest in/with the mentor type investor/CEOs, so ... as I mentioned, without specific examples, I'm kind of confused where the "less impressive" part comes in.

No problem. There's some food for thought there. But it gets really hamstrung by lack of examples, which you stated was intentional. At least from your own personal perspective would be helpful. I think the clearest example for me, is that I have memories of a former sales manager of mine that was an avid reader to improve his skills. 20 years later, I still can't forget that example, and I still aspire to be like that. So for me, I don't have mentor fatigue, every - or even little - nuggets is still immensely powerful, and reminder or repetition don't lessen that.

I think a feel more examples would help. I'm not a seasoned pro, but I still revere Buffett and most of the other from a distance as well as direct mentors. Then again, I'm at the steep climbing phase ... though I hope that's where I stay for the indefinite future. The more normal mentor / student breakdown I see is ... Weill and Dimon? Where the student was ready to be the master type of situation.

what are your thoughts on CK Hutchison? Cause of industry, geography, leadership, diversification, value, growth, etc.?

As well, BRK specifically would have performed better with a rational repurchase policy, more so with an outsider policy, instead of Buffett's blindspot for being the guardian of shareholder partners.

For anyone who went to the dinners, thoughts?

I think if there is an adequate margin of safety, why not? The only thing to be weary of is forgetting the margin of safety and focusing on - if the trade works out - hey, I made a bunch of money by investing in a company with questionable management when it dropped by x%; that means I should invest in companies with questionable management and or I should invest in companies after it dropped x%.