Valuebo

Interesting view Eric, thanks for replying. My only reason for believing this time could be different (a phrase we all deslike when it comes to investing) is the fact that Mathus' theory wasn't based on the extreme progress that came with the industrial revolution. It is only since a couple of decades we can say with certainty that eventually some natural resources will get depleted and it is still uncertain wether we will be able to provide sufficiently in alternatives or not. But you are right in your reasoning imo that population size will move in relation with the underlying economic abilities. Which maybe makes it unnecessary to provide in somewhat drastic measures. I'm going to let it sink in and follow again from here. ;)

We are still waiting for that BRK 52-week high twacowfca! ;D Still have my eyes on LRE...

It looks like you are making statements about the future as if they were facts already to prove the fallacy of (the theory of) unsustainable population growth. I'm not reading any real arguments to disprove it other than your hope that our innovation, economic capabilities, ... will increase as much as they did in the past to keep up with the constant pressure of our consumption. There is no prove this will ultimately be the case and therefor we should be very aware of the danger of mindless overpopulation. Also, it seems very easy to call someone a hysterical and short sighted buffoon in hindsight. And no one, as far as I know, is proposing ending existing lives to meet certain goals they believe are more healthy for our species and the earth. Where the comparison with Stalin, Hitler and Pot Pol comes from is beyond me. It seems to me you are assuming they would consider mass execution as a proper measure, merely to strengthen your argument against population control. I can relate with your vision and admire it, but I disagree with the specific statements you are making. Hope to hear from you. :)

Hey Jacob, thanks for the notes. Is there any way I can download (preferable) or print the document?

Funny how different people can read something in a different way. Interesting posts tho and I appreciate them. I should also note that my English is far below par to start any meaningful discussion so I'll just post my short view on the subject. I'm sure he is not simply mourning the addition of another human being or implying we reduce human population with drastic unhuman measures. Rather, in my view, he mourns the fact that we as a group are destroying the earth for future generations which ultimately will lead to more victims compared to coping with population growth by limiting it. It is not about how our situation is now, it is about how substainable it is in the future. If we only do what we are doing now in terms of clean energy, water supply, waste management, ... we might not cut it as a group if we want to live on this planet with 10 billion in 2100. The US has 5% of world population and 30% of its pollution. I wouldn't call that a great effort. The earth has been inhabited by over 108 billion human beings in 50,000 years. If we want to ensure the future of trillions of others and have high prosperity for the majority, this is a very real topic. One where measures like birth control maybe shouldn't be a taboo as long as the earth can't carry the pollution westernisation is causing.

Just read this sobering article on population growth on PrudentBear. Recommended. http://www.prudentbear.com/index.php/thebearslairview?art_id=10587 Tom

Another one? :P I'm up 7-8%. Annualized almost 10%. Very low volatility because I've got all in US stocks now and dollar hedges positions both ways. The 18th of June I was down 3% and almost fully invested with the S&P500 at the same level and European indices much higher so I'm happy so far. Relatively happy that is, because I'll be doubling and tripling my portfolio over the coming years just by saving.

Yes, seems so. :) What Packer16 explained is what I was getting at. That's why they will fluctuate greatly over time. Prem won't consider selling unless the situation improves greatly or he can lock in a serious gain and imo it is almost useless to look at what those CPI contracts are doing in the meantime. But good to see FFH has at least one decent analyst to ask relevant questions in the future. :) --- Yes. I sold some recently (I don't hold cash.) for some BRK ($67) and BAC ($5.62) because I'm really looking at FFH as my hedge. I still hold a 8% position* but will be the first to double again if markets keep gaining. 8)

http://www.reuters.com/article/2011/10/28/us-bankofamerica-debit-idUSTRE79R5H820111028 Truly a storm in a glass of water.

In a way it is. But on the other hand this is exactly why I have part of my portfolio in FFH. Who knows where we are in a year. Better than holding everything in cash imo, besides normal stock exposure I mean. And in a hardening market I assume they will gain with or without the bond gains. Just look at how prudent they are at the moment: --- It was actually funny to read how that analyst was pondering about the short term valuation of the CPI contracts. He seemed confused. ;D

Earnings call transcript: http://seekingalpha.com/article/303291-fairfax-financial-holdings-limited-s-ceo-discusses-q3-2011-results-earnings-call-transcript?part=qanda

http://money.cnn.com/magazines/fortune/fortune_archive/2005/03/21/8254830/index.htm Just found this article through gregspeicher.com. Loving it. I'm amazed Buffett had only $9,800 in 1950. :o

Thanks for your insightful posts all, very interesting. I love Dragon Den. I always watched the Brittish version a few years back. I read the same about hiring the right people to succeed in Sam Wyly's book, makes sense. I'll have a look at the book, thanks. Yes, that relationship between investing and entrepreneurship was partly what I was refering to. Providing in competitive advantages, margin of safety, great management, ... are obvious - but very important - take aways you get from investing imo. I'll check that book. Can I ask what you found great about it? I guess it's more of an inspirational book? Not that it matters much, all great books ultimately have their value. One of the things, like RichardGibbons said, that is core to both succesful investing and building businesses to me personally is obtaining and maintaining a competitive advantage. I have no interest in building a business that is to vulnerable. I'm afraid the hard part is finding a decent moat and building it. I have a couple of (early) ideas for later but most really have little protection from outside competition so I abandon them quickly. One of my ideas for example is easier to obtain a moat in because it's about delivering a quality service in a niche market. With respect, I can't understand how people today dare to invest their capital in a basic local store without any moat and depend on it for their livelihood. If you're interested in the tech sector, Founder at Work is amazing. Interviews with tons of startup founders: http://www.amazon.com/Founders-Work-Stories-Startups-Problem-Solution/dp/1430210788/ Not really interested in the tech sector but this book seems great nonetheless. Books about startup founders are probably more educational for me than reading life stories from guys in their sixties with billions on their accounts. 8) Haha yes. Some weeks I had 5-10 times my allowance, which at the time was like finding a treasure. ;D I remember selling some for $50+ as well. Interesting view on things Mark. Thanks for your comment! :)

Prem made a macro bet and is sticking to it, I can appreciate that. This quarter shows what a position in FFH could be worth when things would truly turn to shit. While we wait and collect a dividend they are allocating capital in unique situations and growing the insurance business.

Usually how it works. Investors do stupid things because of emotion and anchoring. How many missed the boat again this time? Cheers!

Lol yes, with a dollar that losses 2% in a day against other currencies. :) Lately, I was looking to buy some more but have no idea what I could sell.

Peter Cundill. ;) Made a killing.

Yet the EURUSD climbs like crazy. ;)

Looking back this was spot on regarding fear. Hit 50 once and 49,xx later at market lows... Definitely helped me pulling the trigger at the right moment. ;)

And it mentions how he denied paternity of his daughter while she and her mother lived on welfare. And he had more money than he could spend in a lifetime. Who said he wasn't Scrooge again? Maybe he had his reasons for not believing it was his kid. If I believed someone was claiming such a thing just to get my money I might do the same. The same with the employees. Who knows what they did to piss him off. Or maybe they are frustrated about getting fired. I'm not saying he had was a good man, I haven't met the guy so I can't judge. But there is always a story and context to it. There is no way you won't make any enemies over the years if you're that successful. I bet people will be saying the same kind of things in relation to Buffett and his daughter and about other things when he passes away.

That is, if Apple can maintain its edge and premium pricing. What premium pricing? http://www.nytimes.com/2011/10/24/technology/apples-lower-prices-are-all-part-of-the-plan.html?_r=1 Makes sense. Built a customer base with an image of luxury, high quality designed products + sound ecosystem and then obtain a competitive advantage by using your economies of scale to lower your fixed costs/product and raise efficiency to drop prices without lowering quality.

Yes. I doubt BAC will lose more value from costumers leaving than it will gain from the charge. Most don't care and those that do are generally to lazy to actually cancel their account(s). Also, I'm guessing that most people that do leave will generally have accounts of lower value because much of those will be unused accounts or with low balances. Who knows, maybe it's a good strategy to clean up and have a healthier customer base.

I know and I agree. ;)

Moore is going to love this. Unbelievable.

Yes and now it really did. ;D Let's just wait 12 months guys, this is bs.