Hershey

Is their a credible reinsurance index/ETF fund to use as an investment? Thanks.

As I was reading Value Line, I saw Chubb. Then it was featured in this week's Barrons. Thoughts?

Why buy the whole company instead of continuing to buy in the open market at a significant discount? Wants all of the cash flow at his discretion? Regulatory hurdles? Curious. Thanks.

But maybe the college experience would make sure that posters like me correctly use the word "there" instead of "their." :)

Most of the methods of universities and other schools, which require residence, have become hopelessly obsolete. Probably, over half of the universities in the world will disappear as quickly in the next 30 years. I have wondered the same thing, to wit, why the need for residence universities given the amazing ability to communicate via the internet? There is no real reason for their to be a thousand econ 101 professors anymore. Large lectures can be set up to be communicated nationwide. All that is needed are local TAs to help with small sections. College at the highest levels will exist for the brand name, but in the future there is no real need for the residence experience as part of the college curriculum. The residence experience is fun, and useful, but it doesn't have to take place where the learning occurs necessarily. Of course this is oversimplified, but I think the basic framework makes sense.

Thanks. What does the term "dedicated account" mean?

How do forum members typically obtain 10-Ks, etc.? Contacting the company, or downloading and printing? I am a young relic, who does not like printing them out, but contacting the companies is becoming more difficult (and being put on a quarterly mailing list is almost non-existent these days.) Any thing I am missing, or any helpful hints? Thanks!

thank you.

Does the q&A start at 2:00? And if there is an overflow crowd, how early do I need to get there to avoid overflow seating? Also, are credentials required? Thanks.

According to Schwab, this is true. If so, this will forever be Exhibit A that the mkt is not efficient always. Sorry I missed the moment especially since I arbitraged into Bs recently when the A/B ratio was out of kilter the other way.

There has been good reason for most Americans to feel panicked. Major financial institutions are bankrupt, we are in an economic Pearl Harbor, and while the country is burning, our leaders are pushing social programs and environmental reforms, which will place significant burdens on our country's remaining wealth, and is wholly dependent on the US's borrowing capacity. Are there good buys in the market? Sure, as we comfort ourselves with optimism, I remain fearful that we still underestimate how crushing the financial weapons of mass destruction have become, and the length of time it will take for the system to clear. I wish I had acted on my sense of "the emperor is not wearing any clothes" and panicked a couple of years ago when I saw what I saw, but didn't trust myself. Another lesson learned.

i found the comparisons to that time to be interesting, but I do not know anything as to why the investing public bought stocks during that time period. And I am very fearful of believing anything an "expert" may tell about why that time period is similar to now. FWIW

Mungerville, Yes, the utilities earnings include the gain from Constellation Energy. Fair point.

as i write this, approximate value of investment book as described in letter would be $101B with total mkt cap of company at $114B using A share prices, which overstates value to a small degree. Earnings of non insurance operating companies was 1.7 (after tax utilities), 2.2 (after tax m,s,r) and .78 pre tax (finance exclusive of derivatives). Can buy 4.7B in last year's mostly post-tax earnings exclusive of derivatives for 13B today.