meiroy

lovely goats story rkbabang A man in a movie theater notices what looks like a goat sitting next to him. "Are you a goat?" asked the man, surprised. "Yes." "What are you doing at the movies?" The goat replied, "Well, I liked the book."

Thanks rb.

I don't really follow BRK so this might be complete nonsense but after watching this whole interview: 1. He says they can't really sell due to size-illiquidity issues. 2. He realized that a position he held was over-valued in advance. My conclusion: 1. These days, don't invest in such big illiquid positions. 2. If unable to invest in the private market then return money to shareholders. This seems to be the conclusion as he also slowly realizes how disruptive markets have become, it's not just that investors have access to information. Now, he is an awesome investor and one does not have to be right all the time, but Heinz failed due to concept failure as he puts it. Couldn't this same concept be applied to Coke as well? Huge illiquid investment. His buying/selling of Oracle pretty much says that he now realizes this is out of his circle of competence. And to a sense, he knew that before. So why did he do it? Did they not buy any more Apple because of this?

Check the latest videos section https://www.cnbc.com/tv/

He said that he bought and quickly decided that he didn’t understand it after all?! Rush of blood that is less frequently seen with him Did it happen before, where he spent a few bil then got out in a few months?

What happened with Oracle is worrisome. Did someone else buy it and he decided to sell, which is pretty bad by itself, or did he buy himself and then decide against it, which is even worse?

Same here. Also has some value added for investors. The US is so lucky it had two geniuses establish its foundation, Hamilton and Franklin.

I should pay more attention when Liberty recommends a book because I picked it up yesterday and couldn't put it down. Fantastic. Perhaps the Magnitsky Act is the path to a better world. For too long these people have had their cake while eating it too; bashing and corrupting the free world while their kids benefit from its education system, safety, and assets. Add tiered globalization to this and there might be a way to win against the rising super authoritarian/kleptocracy regimes.

That would be awsome, if it crashes it would hit the buyback floor which means we get to buy calls.

After reading the article, I have now decided to quit my full time investing and become an optometrist.

Here we go, 13F: https://whalewisdom.com/filer/scion-asset-management-llc#tabholdings_tab_link

Regarding goodwill: http://www.berkshirehathaway.com/letters/1983.html The part under "Corporate Performance" and then the Appendix. If someone wakes you up in the middle of the night you should be able to recite the whole thing from memory.

Well said. I completely missed Microsoft's turn around including the impact of games dev and the cloud due to my own personal bias against this company. Which makes me wonder if IBM can do the same.

I've recently been going through an existential crisis, following countless failures to prove that I am Not A Robot; it seems I am unable to identify crosswalks and cars. Could it be, that in this simulation I am but a failed AI? Obviously, this has led me to ponder existential macro issues. It seems to me that the reason there are so few brilliant guys like Druckenmiller and Soros is that they have a genetic capability to see the systemic whole. We are under the failed belief that people can simply spend time and effort earning their economics PHD and that would give them a clue (e.g. people working at the Fed), but surely this is not sufficient. Great methamiticians and artisit have a certain genetic component that allows them to be so, and surely it's the same when it comes to perceiving reality, or rather, perceiving that we cannot perceive it and seeing what we can.

I just binged Netflix' Russian Doll. Dang that was far better than I'd expected.

I thought 'The Death of Stalin' was hilarious, loved it. None of my friends agree. The Expanse is possibly the best sci-fi series I have ever seen. Watched Zombieland about 7 times. It's a completely nerdy stupid cult movie. The Man in the high castle is really good, though depressing. Babylon Berlin is also quite good.

The FED/SEC just noted they cannot file charges against financial institutions and so. Someone like Goldman Sachs may temporarily benefit from the lack of news regarding the pending investigation.

Thank you guys for the replies, I will reply within the next two days with words of wisdom to enlighten your existence (no, there won't be any wisdom, but yes I will reply within two days.)

Thanks again. I'm not familiar with the shareholder culture in Germany, but I hear it's similar to Austria :) Polytech is tied to the cyclicality of the auto industry and this cycle is nearer the top than the bottom, IMHO. How come they've been such a lame duck for all these years and then all of a sudden it goes up and down like that? I've been looking a bit at Infineon Technologies AG Enterprise, it's quite impressive and also got bashed like everything else.

sjh, Thanks for the insight. Hope you don't mind a few more questions: Are companies in Austria mostly profit based like in America or something similar to Japan? How come you are invested in only one Austrian company, being local doesn't give you any advantage? Is my understanding correct that long term capital gains (> 1 year) are taxed at 20% flat? Is there withholding tax for dividends?

Does anyone know a blog/resource in English discussing stocks trading on Wiener Börse AG (Vienna Stock Exchange)? Some fun read on the stock exchange: https://blog.en.erste-am.com/investors-can-learn-maria-theresia-vienna-stock-exchange/ The Panic of 1873: https://en.wikipedia.org/wiki/Panic_of_1873

So, just read Skin in the Game: Hidden Asymmetries in Daily Life. It's fantastic. Very well written and thought-provoking. Definitely worth a read.

petec, Thing is about timing the market (this includes going short) is that you have to be right ALL the time to make money in the long-term and there's only one Druckenmiller. I have no idea if it is cheap enough to buy here, just a general comment.

Never invested in this company or followed it, but just by reading the last couple of pages it seemed they tried to time the market like some macro tourists. (read: they are not value-investors.) Is my understanding correct?

The growth comparison during the period and 1913 until today is irrelevant. All 1st world countries show lower growth as they come of a higher base and also be sure population growth has slowed. We simply don’t habe the growth today that we had 100 years ago in any 1st world country. I would not even go there. You'd have so many data points to compare. How about women participation in the workforce? When did that really start? There's bretton woods, and Fiat money and globalization etc.