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Krapdivad

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Krapdivad last won the day on May 1

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  1. Interesting that Stanley Druckenmiller also commented yesterday that crypto might provide a replacement to the dollar as the world's reserve currency, but suggesting an alternative that had yet to be created. Interesting because he owns bitcoin, but doesn't have a strong faith that it'll be THE crypto. He said in the CNBC interview that the ultimate solution could be “some kind of ledger system invented by some kids from MIT or Stanford” though he conceded that “I don’t know what it will be.”
  2. https://podcasts.apple.com/us/podcast/business-breakdowns/id1559120677?i=1000520232597 An excellent podcast where they breakdown how Visa works, and its moat. I remember Chuck Akre saying that he’s stopped talking about Visa’s competitive advantages because he thought they weren’t well recognized by the market. Most people don’t know how Visa works because Visa primarily works with banks. When a Visa transaction is made, the merchants bank (acquiring bank) receives money from a customers bank (the issuing bank) through Visa’s network.
  3. We often hear of Berkshire’s cash position terms of total dollars ($145 B), which highlights its sheer size. However, I was more interested in how the cash position looked as a percentage of Berkshire. This info would guide me in my own portfolio allocation to “guard against external calamities.” Buffett received a question about this during this weekend’s meeting. He said he views Berkshire’s cash position as a percentage of its assets. Looking at the latest balance sheet: Total Cash: $145B Total Assets: $884B Current Percentage of Cash
  4. Thanks for posting your summary. Goes well with what Buffett said yesterday about the CEO being the biggest risk factor for a company.
  5. How do you "like" someone's post. Someone had "liked" my post and I'm not sure how they did it.
  6. There was a pre-Berkshire meeting by Yahoo Finance today with Laurence Cunningham, Robert Hagstrom, Carol Loomis, and Tom Gayner. Took a few notes if anyone was interested: Larry Cunningham: The annual meeting at Berkshire was created to attract a certain kind of shareholder base that was focused on owning a business for the long term. What makes Berkshire so distinctive and why don’t more companies copy it? Larry Cunningham Buffett sees himself being in a partnership with his shareholders. He makes the decisions for the company as a whole
  7. I'm getting more comfortable investing in China as more of the investing "gurus" are becoming more outspoken about the opportunities in China. Charlie Munger, Li Lu, Ray Dalio, and Howard Marks all have spoken about the opportunities for investors as China becomes the world's largest economy. They all point to favorably changing regulations over time that will bring more confidence to global investors. This provides an opportunity for mature US investors to take advantage of the inefficiencies still present in the younger Chinese markets. China was always worried about money flowin
  8. Put together a little list with some summaries I found online https://docs.google.com/spreadsheets/d/1eKDLCbkaV7-btd1Pklup14QxERO1ZDTOLIjimCJnKI8/edit?usp=sharing
  9. Li Lu's recent fireside chat with Bruce Greenwald had so much great stuff packed into it. https://www.youtube.com/watch?app=desktop&v=FiHrWy2jGbA&feature=youtu.be One thing that Li Lu recommended was that we devote as much time as possible reading up on the history of businesses, and the great businessmen in the past. The more you study companies, the better your judgement becomes about companies. Books that came to my mind were - Titan about John D Rockefeller - Good to Great - Shoe Dog (Nike) - My Father's Business (Dollar General)
  10. Barrons got a comment from Munger about his BABA purchase. It looks like he sees the purchase as a store of value. This hints that he sees lower risk of owning an ADR/VIE than buying treasury bills. Albeit he says allocated a "tiny amount Alibaba common stock" at $37 million. How do you guys explain this $37 million being a “tiny amount” of the $270M DJCO has in cash and marketable securities? https://www.barrons.com/articles/berkshire-hathaway-charlie-munger-prefers-alibaba-stock-to-treasury-bills-51617813729 In response to a request for comment on the investment, Mung
  11. In last night’s talk Li Lu essentially echoed Charlie Munger’s advice of “fishing where the fish are.” Munger’s recent purchase of BABA aligns with what Li Lu was saying about the opportunities in China for value investors. Li Lu sees China as a great place for global value investors. He sees China playing an increasing role of importance in the global economy as it’s earlier in the economic lifecycle compared to the US. Because of this, patient US investors can take advantage of this younger market made up of retail traders with high turnover. China is shifting from
  12. 3/19/21 interview with Bloomberg Getting some clarity from Ray Dalio on what’s going on with the stimulus checks and interest rates. The central government has the ability to collect taxes, sell bonds, and spend money on goods and services (like unemployment and stimulus) The central bank (aka the fed) has the ability to print new money and buy financial assets (like bonds and stocks) When the central bank uses printed money to buy government bonds for the central government to spend, it’s called monetization. According to Dalio, this activity of creating a lot more debt and th
  13. Allison transmissions is a mature business with a strong brand moat throwing off high free cash flows, consistent dividends, and repurchasing a lot of stock. It's been basically trading sideways as people looked to stay away from cyclical stocks as the bull market kept marching on. It may also have been unpopular as the electric vehicle revolution has been taking off, while ALSN is viewed as a typical low growth steady boring value stock. Allison has had the majority of the automatic transmission market in Class 6-8 trucks (think dump trucks, school buses, moving trucks, other construction
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