Buckeye

Hello Greg, Thank you for your reply and for specifics.

My point exactly...no specifics.

Greg, I understand your sentiment, but your messages lack any substance. You spend 3 or 4 paragraphs per post railing against all of these wrongs without giving any specifics. You use all of these "they"s and "they're"s describing all of the horrible people who "disparaged, ridiculed, called conspiracy theory nuts," etc. Who are you talking about specifically? Also who has "refused to investigate"? Do you think this topic is not currently being investigated?

Buena suerte. Lots of air still in this bubble. Indeed. It went up a lot and now down a lot because thats what bubbles do. The fundamentals probably arent relevant until $50 a share. Although $100 maybe be a support level cause its a nice round number and thats the type of thing retail investors predicate their shizz on. Kind like how RICK hit a wall at $69! In other news. Shorted some PSTH Jan 2022 $20 puts for ~$3.50, also cranked out some June $22.50s for ~2.50 Long live spac alpha. Welcome back Gregmal. It's nice to see you here again. Apparently you were missed, as evidenced by the "Save Gregmal" thread:)

My issue was that we have a pandemic going on and I expected some commentary around that. The only commentary around that was that NFM was closed for six weeks. Could it be that with the pandemic still on going it's too early to comment on it?

Fair point Jurgis.

Thanks John!

Yep, right there is it, thanks for the information gjp!

Hello wabuffo, Can you please tell me how you determined that there were additional buybacks through Feb 16, 2021? I assume that the information is listed in an SEC filing? I've looked through the Edgar filings made on 2-16-21 but was unable to find any information in this regards. Thanks so much, Buckeye

The 2020 Letter is out. Thank you to Mr. Bloomstran for allowing all to access it. https://www.semperaugustus.com/clientletter

Hopefully, in the annual letter Prem will write, "FFH owned BB for 10 years and was able to exit its position with a considerable profit. Given the time that FFH held the shares, the gains were not outstanding, but it is nonetheless a profitable exit. In the future, we endeavour to focus more intently on risk management, particularly as it relates to our management team's circle of competence and to better consider the importance of position-sizing when we select our investments. BB will not go down as an epic success for FFH, but it has been a valuable learning experience." SJ Very well said Prem! ;D

Who do you think is going to make more money over the next 5 years? Someone buying Berkshire today or Fairfax today? When Fairfax hit four times book in 1998...if someone didn't sell, that's their foolishness. Just like investors not taking advantage of discounts over the long-term. If you are a value investor, you never fall in love with any stock...no matter who the manager is. At some point, you sell and move to other discounted investments. Cheers! Someone buying Markel. ;D

I understand that Mr. Parsad has made the argument that by having a separate category to discuss politics it will keep these “discussions” from happening within the investment sections of the forum. However, could having a Politics section be encouraging and proliferating these types of “discussions” which end up sucking up most of the air in the room on a forum founded and designed for the discussion of investments? Could the argument be made that by eliminating this category, the forum members who frequent the Politics category will find other forums more focused on politics? Wouldn’t everyone agree that the threads in the politics section never seem to change anyone’s minds/viewpoints and instead act more like an echo chamber to reinforce our already held beliefs? The other argument that has been made for having the politics section is that forum members are given a better view of which members may or may not have better insight within the investment section. For instance, “Holy crap, that member has made some crazy ass comments in the politics section, I am not so sure I should agree with them on XYZ company.” Or “Well that member posts tens or hundreds of comments per day in the Politics section so they clearly don’t spend much time researching companies.” While I agree with both of these sentiments, the argument could be made that weighing the value of a member’s posts should be made solely on their analysis of a company/investment. It is obvious to expect that if the politics category were to be eliminated the occasional topic of politics will still find their way into the investment category. However, wouldn’t it seem that those investment threads will have a good chance of getting back onto the topic in the title as the title itself will continue to attract the members and posts focused on that specific investment being discussed. Can we assume that those threads will “right” themselves? It seems that those discussions will have a better chance of getting back and staying on topic versus the politics thread that are on big downward spiral. Anyone agree? Or should I go back into my hole?:(

We have crappy diets, resulting in first world problems like high blood pressure, diabetes etc. In rural China and rural Africa, people have 110/70 blood pressure well into their old age. In the western world, with processed foods and high salt and high sugar, we have extremely high blood pressure and diabetes rates very early in life. Our bodies don't fight off viruses as well as healthy people. My view is it's largely diet based. All, the above and second and third world countries also have reporting issues, plus the epidemic has not run its. course yet. There are reports of bad situations in Ecuador (Quito) and Brazil but numbers are hard to come by. While these and other points mentioned above are all valid, I highly doubt they can fully explain the huge discrepancy between the developed and the developing countries. And especially considering the big factor that should make situations worse in developing countries -- their lack of good healthcare systems. I do wonder whether how some countries do not care much about this virus and this is being reflected in recognizing/reporting the COVID death numbers. My wife's coworker (they work in healthcare), who has families in Bangladesh, told her yesterday that while COVID is spreading there, people are more worried about going hungry than the virus. Suppose your people, media, and government do not really recognize this virus as anything novel or serious... In such countries, even if people die due to COVID or related illness, they might not warrant much attention and won't be tracked like some doomsday counter. In that sense, is COVID another "first world problem"? Yup. I think this is on the money. Media coverage and fear mongering have made this what it is. Its now widely recognized that this was here much earlier than some people thought, and guess what? Life was totally normal and folks got on with their normal business and the economy was humming along just fine. So yes, its a shame we manufactured a horror story and certainly did impair parts of the economy, probably unnecessarily. But, in other news. Shanghai Disney tickets sold out. RCL is reporting normal booking volume for 2021, guess not everyone is living under a table in their basement. Just so that it is clear, Disney Shanghai did sell out, but limited their capacity to only 30% of previous limits.

This is smart. With Covid-19, you probably don't want your top three guys in the same room together.

This seems to be a point lost on many investors - especially younger investors - who have been riding a decade-long bull market. Downward price action does not make something "cheaper." Downward price action only makes something cheaper if the fundamentals persist or improve. And as you note, the fundamentals are getting worse with each passing day. What happens when more and more companies start including "going concern" warnings in their public filings? But but but...stocks look cheap on a forward P/E basis when I set 2021 EPS = 2019 EPS... After an incredibly agonizing 2 weeks, the bear market clearly ended on March 24, 2020. Plus, the Fed said the recession is cancelled. What a trying time it was for all of us. Glad I got to experience a full blown recession in my life--and one of the worst on record: the Great Recession of March 2020. Another notch in my belt! If Warren didn't buy, it must be because he's senile and outmoded! Bring one of those hedge fund managers who crushed the last 10 years in...you know that guy. What's his name? Dalal, I have very much appreciated many of your posts in this forum. Thank you for your contribution. One day we’ll get rid of the senile old man and have someone in charge who really knows how to pick stocks like the pros. He can call into CNBC and have a complete meltdown and tell all of the viewers that the world is ending. Then, a few days later let us all know that everything is actually going to be fine and that he made a bunch of money shorting the market. :)

This thread is funny. Basically the gist of the of article is that you have one the best/sharpest business leaders/investors in the world saying “Nobody in America’s ever seen anything like this. This thing is different. Everybody talks as if they know what’s going to happen, and nobody knows what’s going to happen.” Then you have a few anonymous posters on an internet forum trying to convince us that they know exactly what’s going to happen and what should be done with Berkshire’s money. :o To those posters I say, let us know when Jason Zweig calls to interview you for WSJ’s Intelligent Investor so when can all read up ;D

Link below. Sorry if this has already been posted. Buckeye https://old.reddit.com/r/IAmA/comments/fwpt19/im_ray_dalio_founder_of_bridgewater_associates/?sort=top

Wow, thank you all so much for the amazing feedback. The twitter post seemed a little sensationalist to me, but mostly because I didn't really understand the specifics. Thank you again for your thoughtful and detailed responses!

Hello All, I'd be interested to hear your opinions as to the validity of this Twitter string in which the poster claims that with the lowering of interest rates, leading to an increase in pension liabilities that the Big Banks should raise equity soon. Thanks!

Check out the links below. It's to a website for the film Mile...Mile and a Half. The film is about a group of video, film and sound people hiking the John Muir Trail and documenting it. It's actually a great movie/ documentary (we found it on Netflix a couple of weeks ago) and the scenery is amazing! Through the website, you may be able to find other blogs, journals or forums that can help hikers interested in doing what you want to do. http://themuirproject.com/ http://themuirproject.com/mmah/film/

Biglari's Hookers? Wow, this was such a great thread until I derailed it. I will go back to just reading the posts:(

Weird, you're right. It must have something to do with that Maxim purchase:) I was referring to the search bar within the Google finance page.

Alright..please hold your tomatoes...BH (Biglari Holdings)? One advantage it has is its 700M market cap. (I can't believe I beat Gio to this guess. He must be working or to busy to post.) On a side note, has anyone ever noticed when you type BH in to the Google Finance search bar it brings up Berkshire? I have to go back an actually type in Biglari before it will find Biglari Holdings. I miss SNS:(

This article below seems like a good mix of links, speeches and books pertaining to investing and business valuation. http://www.gurufocus.com/news/251391/if-i-ran-a-value-investing-business-school