yesman182

In an attempt to better understand the ownership structure of FIH.U, I used Claud to try and build a visual. I welcome feedback on what I don't have correct, or what is missing. Overall it was a somewhat frustrating experience, Claud kept putting boxes in bizarre places and had lines crossing each other all over the place and was writing text on top of each other. Makes me wonder if ADBE really is going to die quickly due to AI. Perhaps I am bad at prompting, or perhaps Claud isn't the best AI for this task.

I track my net worth and my spending. I spend <50% of what I earn and invest the rest in real estate and investments, I have done this for several decades. I personally don't see the point in knowing the exact percentage of my investment gains year. I am unsure how I would use that information, if I didn't beat the S&P for several years, should I just move it all to an index? If I consistently beat the index or should I add leverage? I don't have interest in being fully invested in index and I don't want leverage.

I think their headless strategy makes sense. I have never used Slack and I don't have AI agents, but I buy the argument that Slack is a great place for co workers to work and manage AI agents and work. I watched a video on CNBC with a ADBE executive yesterday and he said ADBE would be moving towards more headless offerings.

What price do we see next $60 oil or $100 oil?

What do you mean BRK keeps duration to zero by rule? In the current environment they are, but I am aware of no much spoken rule, other than always wanting 30-50bn cash (not sure what the limit was up to). That money I suspect will always be in tbills. The rest is just sitting ready to be invested. Fairfax and Markel have invested their money, Berkshire is looking for something. So I think Berkshire has the most optionality with 300+ billion of dry powder, you think Fairfax?

By cooperating do you mean lowering imports, or something else that I am missing?

Who do you consider insurance in general? Markel down, BRK down, PGR down, brokers down

Haha I hear ya. One thing I saw this week that I hadn't previously realized, is just how much China has cut its imports. Seems like the article said they are importing like 1/2 of what they were pre conflict. So the worlds largest buyer basically is taking a pause. That doesn't explain everything, but it does help me understand why the price didn't climb like I would have thought.

trimming crox

I am not aware of these books, but I would like to read them. Do you remember the titles? Are they easy to find?

CFO and General counsel are also buying.

Does that change how you feel about owning this on margin? I think you said in the past you own some on margin. If you previous thought the price would rise with strong ROE and now you think it will take hard market, it seems like less reason to own on margin, since the gains could be years away even if the ROE holds up like we expect. I don’t use margin, so I’m just curious if using margin changes your thinking at all. I understand long term we are both think the stock will meet your return hurdle.

Yeah, my take away was that it sounds like the next time this gets to 1.5x BV the market will find plenty of sellers.

i assume he is referring to be assassinated

I have doubt, why do you think Berkshire will start specifying internal purchasing? Benjamin Moore isn’t a new construction paint company, the county I live in has 1 Benjamin Moore store and dozens of sherwin williams, so in my area all commercial and new construction painters use sherwin Williams and I suspect that’s the same for most areas. Similar story with Simpson vs mitek hangers. Every lumber yard in my area stocks Simpson hangers, you can only buy mitek at Menards. I don’t see that an as easy switch. You think there will be an internal directive to only order from Berkshire companies?