Every Banana Counts

What makes you like GOOG at these prices? I do not think the price unreasonable today in comparison to many other things. By 2030 the world wide online advertising spend, I expect, will be near $800B, and Google will make up a large chunk of this. Also, by 2030 I would be surprised if google has not found other very profitable revenue sources. Google is one of the best businesses in the world. Companies and Individuals are becoming more and more dependent on its services everyday. Unfortunately this is reflected in the stock price today. In March I bought the majority of my Google stake. At today's prices my bet is much less certain, but I thought a small addition was not a bad decision. Thanks for your questioning.

GOOG. Small addition to current position.

WFC

CVS

IRBT

It is interesting how often I am hearing the FANG stocks are overvalued, yet smart very value conscious people such as Li Lu have recently bought. If anyone as any thoughts on this I’d be very interested in hearing them. It seems to me like the actions of people who I greatly respect contradict what seems to be the general consensus. Below is a link to Himalaya capitals recent 13f showing his recent FB and GOOG buys. Thank you! https://whalewisdom.com/filer/himalaya-capital-management-llc

I think this video should be watched at least once a year. I somehow seem to learn something new every time. Hope this is helpful!

Social Media Wednesday’s- Social media can be a very useful tool, but is too often used as a form of passive mindless entertainment instead. Social media can help a person keep up with friends, stay informed on topics they care about, remind them of important upcoming events, etc. By limiting my use of social media strictly to Wednesday I have been able to use this service as a tool as opposed to a time sucking boredom cure. I chose Wednesday because I am typically very busy on Wednesday. This forces me to use my time more efficiently when I’m on social media. Exceptions to the rule are: This website, I can look up a persons name for spelling or if I forgot a persons name, and I use twitter once or twice per day as a news source. Thank y’all for the other ideas on this thread.

WFC

MKL

WFC

In March my wife and I returned to the US from a 6 month world trip. We traveled to inexpensive countries such as Peru, Colombia, Argentina, Bulgaria, Serbia, Uruguay, Bosnia, Greece, and Croatia. In all these places we were able to get nice hotel and Air B&B rooms for $20 or less, but the groceries we just as, or more, expensive than the US. Not only were groceries relatively expensive, but the quality was generally poor and the variety was very limited. The USA is probably the best place in the world to be a grocery shopper (as an American I’m sure I’m biased here). Not only are prices lower, but the quality is better and the variety is greater. If the average grocery shopper in the US begins to see price increases and product shortages then I am certain that the places I traveled to will be dealing with a much more difficult situation.

TWTR

In regards to fairness tendency Charlie points out that people often have the naturally occurring desire to treat others fairly, but this is not always the most effective way to structure an organizations policies. And example of this would be implementing a policy that a ship’s captain will be fired if their ship sinks no matter what caused the accident. “A captain who vows to go down with the ship is much less likely to take that fatal dip.”

I think focusing on the potential downside in Berkshires valuation is a good way of thinking about it’s attractiveness today. It is unlikely that Berkshires book value will be lower in five years, and that it will also be selling at a price to book that is lower than it is today. Between 2004 - 2019 Berkshire grew it BV/ share by an average of roughly 80% over every 5 year period. During this time there has never been a 5 year period where BRK’s BV/ share has declined. Berkshire also sold at an average Price to Book of about 1.3 between the years 2013 & 2019. Warren has publicly stated that this is an attractive P/B from a valuation standpoint. To add to this point, as BRK’s fully owned businesses continue to grow the P/B BRK should be selling for should continue to grow as well. It would be reasonable to expect BRK to sell at a P/B greater in 5 years than it has typically sold in the past. Berkshire has a ton of cash, employs some amazing people, and owns many diverse businesses that provide useful & necessary services to people around the globe. Berkshire seems to me a safe place to protect your downside, and to likely make an acceptable return as well.