Xerxes

Well said. Too bad no one batted an eye in the West at the time on that casus belli

Ref: https://en.m.wikipedia.org/wiki/German_spring_offensive Ludendorff offensive, named after its master. Looks like I got the year wrong. It was 1918 and not 1917

Didn’t Germany launched one of its strongest campaign on the Western front in 1917, before American troop builder reached critical mass. That 1917 campaign was not a clogged affair like the one in 1916 where all the kinetic energy got absorbed at Verdun.

Not munger. One of the guest on the podcast whose name is Charlie

hi i had a chance to listen to it. Thanks for the podcast. I liked the explanation that the hedges were to protect the insurance entities in a negative real rate environment. Often time i think folks think Prem just woke up one day and said to himself “let s make a big macro bet, shall we?” I like Charlie being so super pumped about it. And the fact that he sold Costco at +35 p/e to buy FFH.

The Christmas bombings of Vietnam. Americans thinks it worked beautifully in bringing back Hanoi to the negotiating table and ending the war. https://amp.cnn.com/cnn/2022/12/17/asia/operation-linebacker-ii-50th-anniversary-intl-hnk-ml-dst/index.html On the other hand, the Allied bombing of Berlin ties up an estimated 1.5 million German troops manning 88mm anti air artillery. Both the troops and the 88s would have probably better served fighting in the east. And the Luftwaffe was very much decimated defending the German proper. IIRC there were only 2 German planes attacking Normandy on D-Day. It works in different ways. I think, in the current context with Moscow, it is more to burst the bubble of the city dwellers. And pulling resources to defend it

I don’t remember exactly but I think it was in year 4 or 5 of Iran-Iraq war, when they started their War of Cities. Scuds flying to Tehran and from Iran to Baghdad. It is two years early in this conflict.

I didn’t say he shouldn’t say it. I just called them lot a f@&:ing crybaby hypocrites. Nuff’ said. The only scenario that I would be concerned about nukes is in a post-Putin world, where a new leader emerges in the Kremlin to win the war but without the Putin legacy baggage holding him back. The fact that Putin has made a miscalculation with this Feb 2022 invasion is I think actually holding him back, oddly enough. Ukraine is fighting a total war, Russia is not as of yet. Perhaps we won’t see much material change either way till U.S. elections.

For me the news was not so much the attack on Moscow but the fact that they took responsibility. Anyone remembers the first time Ukraine attacked Russia proper. I remember. It was a somber affair. They attacked the cross border town of Belgorod with helicopters. It was as if they were testing the bear. And they neither confirmed nor denied their involvement. We are now in the ‘normalization’ phase of the bear getting poked. The other news is Graham stating that a tactical nuclear strike is considered an attack on NATO, even though not on NATO soil, because of secondary impact. Ok fine, it is all about narrative and building red lines. Except that yet again it is one sided Western view. Washington has no problem choking other economies with severe sanctions when it pleases them, without shooting a bullet (not considering secondary impact on local populations), while they cry like fu@$ing babies about secondary impact, when it suits them. Dear Washington. Grow some spine please.

If i am not mistaken last week, everyday it closed above $1,000 CAD …. And stayed on the other side for a drink over the weekend

Anybody read any of James C famous novel. I have heard the famous series but had not read them. Looks like Shogun will be made into a Hulu movie (I guess)

I was ok with his life. It was interesting. but did the crux of the movie needed to revolve around the “authorization for security clearance” like it was a big deal.

In all candidness, I was concerned about tactical nuke exchange in the early phase, but the probability has gone down a lot. In the early phases of war, he could have stunned the West by going nuclear, stunning Sleepin’ Joe and Kiev, instead he stunned himself. In 2023, the mutiny, and a shaky chain of command structure, and a Tsar that still playing the peace-time game of creating division within Kremlin, all speak to indecision and indecisiveness. Will even his orders be followed if orders are given to activate the small-yield nukes … I think in this war, we are exploring how much we can push the non nuclear envelope, and I suspect it can be push further. That said, in a post-Putin world, will only have uncertainty and ambiguity on the nuclear front. The world indeed has changed and not for the better. The Economist had a few good article (as always) in the July 1st edition. They described Putin as a “rusty nail” holding the charade together, even as mutiny was unfolding. With stakeholders not sure which direction to bet on, but sure what the rusty nail is.

Finished watching Oppenheimer. Cannot believe I spend 3 hours on a movie with “security clearance authorization” as a plot point.

So is Markel as an investment for Berkshire. barely needle-moving.

a (4) would be a marketable security like investment like Markel, which was perhaps done by the Two Fellows Down the Hall I found it funny that in various podcast with the Markel chief, the podcast host makes a big deal about BRK investment in Markel.

buying as a bolt-up for the float, maybe but it is not for sale. buying as an non-controlling investment, I doubt it. what cross section of operating non-insurance investment does FFH that Berkshire does not already own.

Awesome right spell with the “accent” on “e” thank you

@Luca can you pls “like” this for me.

In regards to the Japanese trading companies, the key statement he had said was that, “they are very similar to Berkshire” I think that says a lot in terms of how he thinks about them. Therefore unlike the previous sectorial bets: U.S. airlines, pharmaceutical or U.S. banking services.

nothing new here. Jet engines are hugely complex. It will sort itself out. (At a cost) The real concern however is the optics, of this coming out weeks after the Investor Day in Paris. So bad optics, and given that they didn’t disclose cash impact in 2024 TBD (only for 2023), and given that with bull market roaring I bet GE pulls in more of investor money riding momentum. so perhaps there is room for it to go down further. So I ll wait a few weeks before adding if at all. if you like A&D, I recommend the weekly Sunday A&D business podcast. The same podcast has Monday episode on war in Europe.

It might be that this person is a person that knows you (someone you know), but is too coward to tell you whatever is trying to say in your face. it is very odd, for a random person, to be turned off by a subscription fee, which nowadays we see everywhere. This is like sending an anonymous angry and insulting note to Reed Hastings for cracking down on password sharing. This person is either a teenager or someone that is jealous of your success.

Hi John mine only uses charcoal. (No gas connection). So I always go with charcoal the one quibble I have is that it’s stands rusted after a few years of being exposed to Canadian winters and the elements. But looks like surface rust only, in any case when I contacted them, they sent me new stands. Which I have not bothered to install as it is heavy.

I use the Vision Grill BBQ now for about 7-8 years or so. Similar to he Green Egg. I made this on it last night after a 15 Km run. Grilled chicken marinated in saffron. I do lobsters in it in June, which is lobster season, steak etc. the salmon is delicious as well. the one thing that needs to be done for all the Eggs, is to ensure clear ventilation so that air flows, otherwise it won’t heat up in a fast manner with all the charcoal

@SafetyinNumbers thanks for taking the time in making the episode. I ll be listening to it soon. @Jaygo lol … BB is doing way more than me connecting the investment community. So I ll give him that.