Aurel

Here is an interview with Jorge Lemann, in which he talks about Buffett and their differences:

I think you're right. But I enjoyed the book Factfulness from Hans Rosling, quite a good approach on that topic. It's a more holistic view on "wealth".

I like and hold MBB, too. Maybe we'll see a squeeze-out at some time? Management owns already a lot of stock and is still buying. I also had a look at Gesco.DE, since it's more diversified and it's quite cheap, too. But I think MBB.DE has the better management and better holdings.

Sure, it would be bonkers if there is a war between US and China. That doesn't mean it ain't gonna happen. It's tough do give up your supremacy. It’s the Thucydides Trap. https://en.wikipedia.org/wiki/Thucydides_Trap But..maybe this time it’s different.

Short trip to Sylt (germany).

Hey thank you for the link! It's refreashing to hear some real first hand opinion on china. Corresponds very much to my own travel experiences. Not the typical german "we do it right, so they have to follow us!"-twaddel. Usualy not a Jung & Naiv-Fan. But this is a good one! Bought the book "Zukunft? China!: Wie die neue Supermacht unser Leben, unsere Politik, unsere Wirtschaft verändert "

Oops.. But yeah, I love "Meditation". Great rules for life. Repeated over and over in self-help-books.

Me too. It's been on my watchlist for quite some time. I like the easy-to-understand business model and the down-to-earth management. I think if you get the shares around 40 it's pretty cheap. But I still haven't made up my mind to buy anything, or had other stuff to buy.

Well..I'm glad that all companies above ended up in the too-hard-pile pretty quickly..

I might add that Vonovia is not leaglly a REIT. So they don't have the tax privileges and payout-regulationof of a REIT. They own roughly 550.000 flats in germany and the overall rent is quite low compared to market standarts. So the EV of ~60B looks quite low to me. And they face political headwinds in Germany, but I think that's easy to handle.

added MBB SE

Right?

I saw his Son Dweezil with "Zappa plays Zappa" once. Was a good show with a lot of music-nerds in the audience. And he seems like a really nice down-to-earth guy.

Great tune! I also love the uptempo-"coke"-version of it.

Sad news..RIP.. What a legend!

In the land of the blind, the one-eyed man is king!

Thank you for the summary and the translation. I'll check that out over the weekend!

interesting valuation. Are there some infos in english? The investor relation site seems to be in danish only.

I'm not really into this stuff, but isn't the purpose of the CZ/Binance-1B-"rescue"-fund exactly this? I mean why you need a xB fund to grow trust again? If the "assets" are good and low valued. Great. Just buy them. I really don't get this. https://www.bloomberg.com/news/articles/2022-11-25/binance-s-crypto-rescue-fund-of-up-to-2-billion-fails-to-dispel-contagion-fears

https://www.cnbc.com/video/2022/11/17/watch-cnbcs-full-interview-with-liberty-media-chairman-john-malone.html

iirc, he said he sold his BTC.

I have a small position in Burford Capital. They do litigation financing. Disclaimer: Muddy Waters is/was short.

Some euro-stuff i hold, FWIW: MBB SE: Small family-holding with a value-investing approach. I like the management a lot and they're holding a lot of the stock, too. Erlebnis Akademie AG: Small Cap. They build and run treetop-walks. It’s not dirty cheap, but I like their market position. Deutsche Euroshop AG: Bought it because it was cheap. Now there is an offer from the owner + Oaktree (BAM?). +40% up in a few months. But I still hold the shares. Bayer AG: I think you've heard about it.