yesman182

Why not build that northern pipeline and get more oil to tidewater ASAP. Seems like the sooner you can lower the differential the better. Not only does your tax revenue go up, but it makes investing in infrastructure more attractive. Hopefully they do both.

I was looking at the good podcast thread and came across this this podcast. It counters the traditional view on inflation. It was a perspective I had not heard before. I found it very interesting. https://thecobf.com/forum/topic/16706-great-podcast-episode-recommendation-thread/page/9/#findComment-570512

Or peak wood burning

Are you selling into it? I sold a little.

“Shale has peaked” seems to be a narrative from Canadian oil companies. I’m not saying they are wrong, but US companies are rushing to find inventory in other fields. So it seems like the shale producers still feel like they have a runway.

MGM CNQ

If the US starts making more steel what coal companies are likely to benefit?

and on top of that, the US government already owns the profits of all American companies via the corporate tax. The US government doesn't need equity in these companies to share in the profits.....

I am American and I saw several news stories from the Canadian press that I would not have seen otherwise. I found the thread useful when it had links to news articles.

I think it could be deflationary. If I was thinking about buying a new car and on Tuesday it was 25% more. I wouldn’t buy it. The same could be said for a lot of non essential spending. Yes, eventually I would need to buy a new car, but Americans buy a lot of wasteful stuff than isn’t needed if prices increase 25%. If my state increased sales tax to 30% I think consumption would go down, and although prices would go up because of the tax, I don’t think it would result in a climbing inflation spiral.

Trump is asked if Canada's oil will be part of the tariff. He said Canada is taxing the Us with a deficit. Then asked again and says "oil has nothing to do with it". Seems like he doesn't want a tariff on oil. Happy to hear how others interpret him.

I was under the impression that the importer paid the tariff. So in the case of Canadian oil, it would be the US refiner. But Trump talked about setting up a ERS (external revenue service) to manage the tariffs paid by foreign nations. If these tariffs are put in place on Canadian crude headed to the US, who will send the check to the US government?

I enjoyed the video. I wish Friedman was part of DOGE.

How much does it cost? Have you checked what you can get from the library for free? My library has some new online booklets that I can view from home. I can’t print them, however.

@Viking can you help me understand what makes the insurance portion of the business special, besides being a disciplined underwriter? buffet has talked about how Geico’s advantage is not having agents and being a low cost producer. He has also talked about how Berkshire's reinsurance operations have a moat because they can write large dollar coverage, quickly and with their high capital the other party can be sure they will be around to pay in 40 years. The hidden assets on the balance sheet, the bond duration, the management caliber are often talked about, but I don’t personally have an understanding how FFHs different insurance operations are different from their competitors. Does a chapter in your book cover this?

If they are in such a bad spot, why is lumber still so expensive. Pre coved 4x8 sheet of osb 7/16th thick was sub $10 now it’s $16USD+. 2x4 was 2 usd, now they are 3.50. Having those prices up +60% in 5 years doesn’t help builders sell more houses.

PEP

MPC it’s trading near a 14% owners yield with what they are projecting in buybacks and dividends. The stock has fallen much harder than oil prices. @gfp are you speculating that non indexers are doing tax loss selling and that downward pressure will cause the indexes to buy these beaten down stocks in the coming weeks?

Hi Brett, Did you meet with Warren at all through this process. I assume you sent him the book. Did he read it and respond to you? I just ordered a copy and look forward to reading over the holiday.

Yeah, I think that is why he said he wouldn’t trade float for cash if given a tax free opportunity, if it meant he couldn’t be in the insurance business in the future.

@SafetyinNumbers It seems like a few pages back you made the argument that getting added to the index will be a long term tailwind. If you believe that is true, why not advocate for listing in the US and getting in the S&P500. Wouldn't that be a much larger tailwind?

Here WEB talks about getting free float and how float has the utility like equity, but you couldn't realize it upon sale. So it seems like valuation method #3 is an upper bound if the business is being run well in a stable market and a new owner doesn't see any great opportunities for improvements.

I don’t really follow the index’s but TVK was like a 500m company like 2 years ago and now is added and Fairfax is left out. This is a very strange index.

Buffett explained that workers comp issue at the twin towers on 9/11 was an outlier event that was not thought of.

Has this already been paid, or is 100 of the 300 cash already spoken for?