Xerxes

i ll answer on Dinar’ behalf. Whilst it is true that the domestic market in India is slow to grow (GDP per capita and all), but there is low hanging fruit up for grab: there is a lot of Indian traffic that use Emirates and other Gulf super-connectors to fly to the U.S. and Europe. That market share is up for grabs by IndiGO and Air India. Dubai may have had infrastructure and the wherewithal to be first in the market, but there is nothing stopping the likes of Bangalore to become an international hub for India super-connector, first for India travellers (that already use the Gulf carrier) and then for foreigners.

Seems like an interesting book given today environment. Will post on book thread when I get it.

well. I just did the math Welsh + English + Scottish + Northern Ireland = UK Welsh + English + Scottish = Great Britain

Or Welsh !

Global economies got pulled out of the Great Depression thanks to the onset of the world war …. with Germany leading the way through its massive rearmament. it is sad to think that we needed a world war to get humanity out of first gear into higher gear

Whatever happened to co-DOGE commander: Vivek R. I listed to the All-In podcast today with Larry Summers as the guest. It was intense. David Sacks, the Trumpist, was funny to listen to. Literally getting offended when asked for what is measure of success on the tariffs two years from now. Chamath is interesting. Very smart person and well spoken. While Sacks is a loyalist with a deep sense of oh-I-need-to-shoot-all-arguments, Chamath is more of an opportunist and Trumpist-on-contract. What is the ROIC to kiss the ring ? Larry Summers sounds like an old knight of a bygone age. Clinging to his facts in a world where other things (like fiction) takes precedence.

Musk may not be racist but am guessing (1) he is fascinated by the 1930 Germany, (2) likes the attention that salute stirred (I believe he knew what he was doing) (3) wants a cult following (4) throwing stuff to the wall to see what sticks The salute was almost like doing a weird post on your FB profile to see who will click on “like” Everyone needs to have a tribe. In any case, looks like he needs a rebranding more than a tribe. ——— on Nazi: contrary to the post-1945 belief, Nazi didn’t come from planter Mars in 1933 and then took off in 1945 in the same spaceship. They were normal everyday white god fearing Germans, that took a different path. Some by choice, others coerced and others yet because of opportunity to get ahead in their society. Except for the hard core Nazis, and the brainwashed faithful around them, most of them were probably nice and normal people.

Based on the Q&A It is clear that Prem doesn’t waste too much time with Howard Marks’ memos

yeap precious years needed lots of table pounding. They just used the even better let’s bring Sokol, let’s bring Sleepy guy, let’s bring Euro guy, formulae and meshed it with whatever questions came up that remotely matched the question. I would have like to hear from Strathcona CEO I wished I had listened to the FIH instead of this one.

Not much content compare to previous AGMs. Speaks to its full valuation.

Prem Watsa rocks !!

thank you. sounds like Prem is turning into a Masayoshi Son and his magic wallet.

Thanks for the note guys. there was nothing mentioned on that IDBI bank from India ? Comments ? and how exactly they are prepare to finance an investment into such a beast

lol ... i was counting on FIH AGM being in the afternoon of Thursday like previous years. Slight miscalculation

I am at work tomorrow morning so will miss the FIH AGM, please please post notes / comments ... or better yet record it

lots of great thoughts by Larry Fink

Hi Hektor I only used IndiGO when I was there. didn’t wanted to take the chance with Air India. IndiGO was great.

In 2020, he sold the four airlines that had a combined value of about $10B. Completely immaterial. More importantly he was not going to be dragged into being a lender of last resort for the airlines, which would have happened had he stayed. Blame him for not buying but not for selling the airlines. Even the not buying is not worth blaming.

Don’t think we have an Air India or TATA thread, so I’ll post it here. A good article on AW on Air India transportation from a lumbering state-owned asset to a privately owned enterprise.

Whereas former conquerors and foreigners in India made the country their home, in case of the British and East India Company, they had one aim: systematic asset stripping of the subcontinent and exploitation.

The passage in the book covering the formalization of EIC control of the three rich provinces in India’ north east. Effectively giving the Company the power to tax as a Sovereign would. And not just as a trading company. Thus began the systematic plunder of north east India. Gold imports to Bengal drops by three-quarter, as the Company no longer needed it to buy spices and silk and tea. They had plantations to do it for them. Robert Clive’ personal 401K (all concentrated in shares of EIC) doubles in eight months.

The good old days, when a company director having access to “material insider information” would ask his CFA guy back in London to mortgage his properties and buy all the shares of East India Company that he can.

Wow I didn’t realize Val Kilmer played Philippe of Macedon.

Trump is who he is. That is personality. Narcissism and all … Doesn’t mean he would disrespect a fallen soldier as an like “screw him, gotta play some golf” It just doesn’t register with him in the same way it would with a .. well normal person.