Malmqky

I just started a position in FIH. I don't see how any of the bear arguments (Besides Prem doing something to benefit FFH and "hurt" FIH) would impact the thesis here. Some fees, illiquidity, etc. don't break anything.

Yep, for 50 years too. Rarified air indeed.

If you let someone start at the Covid lows, I bet most have crushed 18% over the last 5ish years But yeah, 18% is nothing to scoff off over the long term. I’d be very, very happy with that type of performance over a couple decade timespan.

Added to Coupang for the first time in a few years. Trying to buy for CROX leaps too. Eyeing Nintendo.

Nintendo is far, far more isolated from this due to the IP. If you want to play Mario, Zelda, or Pokemon games, you need a Switch (or sure, you can run an emulator and pirate on a PC I guess). There's not really anything stopping you from replacing a Xbox/PS with a computer however. Mobile wise, Nintendo is seeing success.

Nintendo for the third year in a row. Also CROX.

Strongly dislike the UA investment, so it’ll probably work out well

I have a few friends who work/worked at Geico. Yes, his success is laying off people and leaning into analytics ala Progressive. Yes, they hate him. I was told there was a lot of talk amongst employees about "how could he possibly manage a portfolio at Berkshire and be CEO at the same time effectively?" Take it as you will.

Received the above email a few days back for those interested.

K shaped.

Sold 20% of my Warrior Met position to buy some more CSU as well

Swapped CROX stock for Jan 2028 LEAPS

I just want Berkshire to trade at sub 1.3x book again. Or better yet book value like it did during covid.

Considering Google has 100% utilization for 6-7 year old TPUs, perhaps their depreciation useful life is actually accurate? Very skeptical of the rest.

I think this is a good point. Failure all around.

Remember Burry was 3 years early on the CDS shorts. I’m certain Palantir at least is overvalued, but like I said I would never touch it. High, high chance Burry gets burned imo.

Bought some more BRO and AJG.

I would take it a step further and say it's impossible.

I wouldn't touch Palantir with a 10 foot pole, and that includes shorting. Market can stay irrational longer than you can stay solvent. I think Palantir is a really tough short. Quantum is a lot easier, although that thesis is already playing out.

Grabbed some AJG yesteday

Warren and Charlie both lamented the fact they missed Google during an annual meeting. Something about how they were using it at Geico for ads and it was so much better than everything else.

some BRO and CSU

Sold out of LNF.to for a decent gain. Sold 10% of my warrior met position. Need cash for some limit orders

https://investor.bbrown.com/news-releases/news-release-details/brown-brown-inc-announces-third-quarter-2025-results-including

I spoke with support, and they will not offer me a 3% transfer match - they state that is random and targeted. At the moment, it seems I am stuck with the 1%. Which isn't quiet tempting enough for me to transfer. As for cost basis: 2. Cost Basis Display for Transferred Holdings: After your transfer settles, your previous brokerage has up to 15 calendar days to send cost basis information to Robinhood. Until Robinhood receives this data, your average cost and total return for those holdings will not display. Once received, cost basis and total return will update in your account. If cost basis is not provided by your previous brokerage, it will remain missing. You may need to request this information from your prior firm.