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CapriciousCapital

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  1. What's the story with PSTH? From what I pulled up it's a SPAC from Ackman that somehow has a negative book value?
  2. Is there a 13-F equivalent in Asian markets?
  3. Picked up some I bonds at 0%. Guaranteed to lose value (albeit at a slower rate than cash at 0.5%).
  4. Here are the movers since q4 2020 ranked by net share purchases-- ticker, cusip, change, percent_change, q1 2021 shares owned, q4 2020 shares owned
  5. What Every Real Estate Investor Needs to Know About Cash Flow... And 36 Other Key Financial Measures, Updated Edition Paperback – November 18, 2015 by Frank Gallinelli (Author)
  6. If you watched/read the AGM (or read the thread where I quoted this), you knew about Munger saying "Greg will keep the culture" followed by silence and no comment from Buffett. Well, today it's official. https://www.wsj.com/articles/berkshire-chooses-greg-abel-as-warren-buffetts-successor-in-ceo-role-11620054866
  7. Munger: "We have a great culture, and Greg will keep the culture"
  8. Earlier Buffett mentioned BRK has ~10-15% excess cash above what it'd like to have in terms of investing. He also mentioned it's only about 10% the asset value of BRK, so holding that much cash (liking the other 90% of BRK) doesn't bother him that much. Also earlier Buffett mentioned the rate-limiting step for BHE investment in power generation is transmission (limited by local factors, building through other people's land, etc). And that he'd like to reinvest more there.
  9. Buffett: "If the government took a higher share of my inheritance, I don't think it would bother me..." Munger (cutting Buffett off): "I guarantee it wouldn't bother you."
  10. 13:30 - 13:45: Introductions, goes over summary figures, again reiterates operating earnings matter and ignore capricious swings in unrealized gains. Says a "maybe not unexpected" surprise will follow soon... Could it be a dividend?
  11. Calpers doesn't really have skin in the game here[1]. ISS's recommendation could have a more-then-modest effect[2]. [1] https://www.sec.gov/Archives/edgar/data/919079/000156761921001941/xslForm13F_X01/form13fInfoTable.xml [2] https://corpgov.law.harvard.edu/2018/06/14/the-big-thumb-on-the-scale-an-overview-of-the-proxy-advisory-industry/
  12. How much if DKAM’s total returns came from Constellation Software? That was a great investment but may not be repeatable.
  13. I'll add that in normal times, globally systemically important banks have higher capital requirements which reduce ROE. Ultimately ROCE looks a little better when GSIBs issue preferred stock.
  14. Surely it’s less than 15% now with interest rates near zero and over 100 billion in cash with no opportunities.
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