wisowis

Just to follow-up on my previous post about the Artis prefs, the option to convert to an open-end trust was approved at the latest shareholder meeting. And in the Q1 earnings call, Samir brings up the redemption of the prefs:

I think Warren let it slip before Charlie:

Here is gfp's ghost post:

I saw this interesting thread on twitter that the Artis preferreds will likely need to be redeemed because of their (desired) switch from a closed-end to an open-end trust:

Picked up some Fortis

Added to CHTR and WCN

Below is from the last conference call in October. If FFH has short exposure after saying this...

Bought more BRK and BERY

Bought some ATD.B

https://www.businesswire.com/news/home/20201201005424/en/AWS-and-BlackBerry-Join-Forces-to-Accelerate-Innovation-with-New-Intelligent-Vehicle-Data-Platform AWS and BlackBerry Join Forces to Accelerate Innovation with New Intelligent Vehicle Data Platform

Added to QIS.V In the past week: Added to NVU.UN, CSU.TO Initiated BYD.TO, DRM.TO

Warren Buffett’s Berkshire Hathaway buys stakes in Japan’s five leading trading companies https://www.cnbc.com/2020/08/30/warren-buffetts-berkshire-hathaway-buys-stakes-in-japans-five-leading-trading-companies.html The official news release: https://www.berkshirehathaway.com/news/aug3020.pdf

Sold OPT.TO (Figured all the shenanigans would lead to a pop sooner rather than later. For more info on the story, I found this post: https://chaptertwelvecapital.com/post/optiva-the-perils-of-a-controlling-shareholder/ ).

US CPI out this morning for April, -0.8%, following a -0.4% for March. https://data.bls.gov/timeseries/CUSR0000SA0?output_view=pct_1mth Sitting at 256.4 right now. More details by category: https://www.bls.gov/news.release/cpi.t01.htm Many of the categories with large weights haven't budged, like Shelter, interestingly.

Curious what merger arbs people are looking at, given how much spreads have blown out now. I recently posted a thread for NorthView REIT (cash offer of $36.50, currently trading at ~$32), but here are a couple images from FT (h/t PlanMaestro) with some of the spreads on recent deals: https://pbs.twimg.com/media/EUURmKDWkAAoZUZ?format=jpg&name=large https://pbs.twimg.com/media/EUUR442XgAc0a6l?format=jpg&name=large

It's ill-advised, perhaps even Irresponsible for non-experts to promote wearing of masks during a pandemic to a population unaccustomed to wearing masks. New mask wearers will fiddle with the masks from discomfort, thereby increasing their risk of transmission by transfer from their hands. Here are two McGill University medical experts weighing in with that message: No it isn't. Regular masks (not N95) prevent asymptomatic people from infecting others. They're quite effective elsewhere and should be worn by all. They shouldn't replace other measures, and people should be educated about them (as they have been in asia), rather than assume they're too dumb and shouldn't wear them. See: https://medium.com/@Cancerwarrior/covid-19-why-we-should-all-wear-masks-there-is-new-scientific-rationale-280e08ceee71 https://medium.com/@thejanellemj/please-join-me-in-wearing-a-mask-71e0e3f4fe4a Otherwise, it's like saying that people shouldn't wash their hands because they might do it badly and get a false sense of protection from it, or whatever... It's not about people being dumb. It's not even necessarily about education. It's instinct. When you first grow a beard, it will be itchy, and you WILL scratch it. But you get used to it over time. If you want to get a population used to wearing masks, you want them to get used to it OUTSIDE of a pandemic, because INSIDE of a pandemic, face-touching is a major cause of transmission. You have exhibit A above. Tobi wears a mask, and his glasses fog up. What does he do next? I am asking for the evidence that shows that new mask-wearers won't touch their face, not for evidence that masks work to prevent aerosol-based transmission.

It's ill-advised, perhaps even Irresponsible for non-experts to promote wearing of masks during a pandemic to a population unaccustomed to wearing masks. New mask wearers will fiddle with the masks from discomfort, thereby increasing their risk of transmission by transfer from their hands. Here are two McGill University medical experts weighing in with that message:

“A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects.” ― Robert A. Heinlein

BRK.B, CSU, BAM.A, TD

Why would there be a difference if a large holder sells in the open market and Berkshire buying from the open market, than Berkshire buying from a large holder directly? There shouldn't be. And if Mr. Buffet truly cared about bringing down the share count through some large blocks, he'd start to cancel some of his own shares. But he doesn't because of how much he enjoys writing "I haven't sold a single share and don't plan to" every letter.

This was actually a good read and probably bolstered my belief in what I wrote earlier. Lets see what the confirmed numbers look like in a week or maybe a month. But so far, you have barely 100 total cases outside of China and 0 deaths. You also have a death count that is bolstered by people with other conditions and complications, which is always important to consider as well, even with the common flu. A week later, maybe some 300 total non China(although like 90% of regions close to China), and just 1 outside death(in Hong Kong). Vulnerable people are not the most likely to be traveling. As WHO said yesterday of the cases they've studied in China, "82 percent had mild infections, 15 percent had severe symptoms and 3 percent were classified as critical". For reference, influenza has a fatality rate of 0.1% and a lower transmission rate than nCoV.

Efficient Market Theory evangelists in tears, asset worth thousands of dollars picked up on the side of the road for free. May I suggest that you donate that money back to the library if you ever sell it, given that they are a non-profit. Here is a 1st/1st, also was a library book. Listed for $9k. https://www.abebooks.com/servlet/BookDetailsPL?bi=16758996144&searchurl=an%3DBENJAMIN%2BGRAHAM%26kn%3Dsecurity%2Banalysis%26sortby%3D1&cm_sp=snippet-_-srp1-_-title8

Merry Christmas!

It bothers me that this board continues to use the insecure http protocol. You can actually connect to https, but clicking on any link redirects you back to http. This site should switch to secure protocols, please read (from 2016!): https://blog.mozilla.org/tanvi/2016/01/28/no-more-passwords-over-http-please/