Charlie

He really wants to stay the richest man in the world.

AFD (Weidel) and "Die Linke" are against everything. That is the way they get votes. I am not sure which role is Musks in this game. Probably he wants that Germany decrease taxes that Tesla makes more profit or he wants to weaken Germany with this AFD shit.

That makes the statement much worse.

Weidel is saying in the video (30 minutes) that during Covid vaccination and wearing a mask was a bluff or a scam. I mean when someone is saying something like this, how can you take her serious?

@John Hjorth Buffett in one of his last interviews said you should think about if you had to live only one more day/month/year (I think he said day), what would you do? And now do this every day. Live every day as it would be your last day. This exercise focuses you on the most important things and let you forget about irrelevant things. Meet family and do things you really want to do before you die.

Good interview with Chris Davis talking about Berkshire Hathaway:

Feliz navidad! (making holidays with family in Spain) Thanks to all for this great discussion board.

https://investingnews.com/daily/resource-investing/mark-these-tax-loss-selling-dates-on-your-calendar/ This article explains tax loss selling a little bit. ... The flip side of tax-loss selling As tax-loss selling starts, opportunities can open up for those who have spent the year on the sidelines. In her piece “How Bout Tax Loss Buying?,” Gwen Preston of Resource Maven explains that Canaccord Genuity (TSX:CF,OTC Pink:CCORF) has found that from mid-November to mid-December, S&P/TSX Composite Index(INDEXTSI:OSPTX) stocks that are down more than 15 percent year-to-date underperform the index by nearly 4 percent. However, from mid-December to mid-January, those same stocks outperform the index by 3.6 percent. “That outperformance is on top of gains the TSX reliably generates over that time frame,” Preston explains. “So instead of only seeing tax-loss selling as a time to generate tax credits by dumping dogs, let’s look at the opportunity to profit.” How can investors time tax-loss selling? Regardless of whether you’re engaging in tax-loss selling or buying, Steve DiGregorio, portfolio manager at Canoe Financial, recommends acting swiftly and aggressively as “liquidity will dry up.” He sees the second and third week of December as the ideal window, which is well ahead of the “Santa Claus rally” — the period around the last week of December when stocks tend to rise ahead of a healthier market in January. For now, the year isn’t over yet, so whether you’re tax-loss selling or buying, there’s still time to talk to your accountant or financial advisor to determine which approach is best for you.

gfp, any numbers of long-term performance regarding outperformance of the "Tax loss selling" strategy? The strategy sounds good, but the historical outperformance is important.

@Munger_Disciple, Thank you!

@Blugolds, Wow, that is a very good tax rule. U.S citizens should be very lucky to have it!!!

@Munger_Disciple Is this the law in the U.S., that if somebody dies the deferred taxes of every equity investment for the heirs don´t have to be paid? Does deferred taxes become zero taxes, e. g. for the Munger family?

The German DAX index today reached 20.000 points first-time: https://www.comdirect.de/inf/indizes/detail/chart.html?timeSpan=1D&ID_NOTATION=20735#timeSpan=SE&e& Interestingly The DAX index is not far behind the SP 500 long-term: https://www.comdirect.de/inf/indizes/detail/chart.html?timeSpan=1D&ID_NOTATION=20735#timeSpan=SE&benchmarkNotations=8941848&benchmarkColors=147de6&selectedBenchmarks=true&e& Conclusions? Germanies equities are not cheap (sorry, no gloom and doom) and had a very good long-term performance although being very capital-intensive.

Happy Thanksgiving to everyone and thank you to Parsad for this great community!

Bought this one. https://www.etsy.com/de/listing/1183969368/was-wurde-warren-buffet-tun-weisser?ga_order=most_relevant&ga_search_type=all&ga_view_type=gallery&ga_search_query=Charlie+Munger&ref=sr_gallery-1-43&frs=1&content_source=217842120a0d1f3a36fd056a30c3b00137e2410b%3A1183969368&search_preloaded_img=1&organic_search_click=1 I hope it helps me to stay rational. Thanks @gfp !

Thank you, gfp

gfp, why is Berkshire short Euro? It is probably 90-95% US based, but short Euro? Buffett was very good in the Euro/US Dollar trade, until he said something to the effect that it is outside his circle of competence. Time showed he was right.

What do you think are the Trappings of Wealth? Kids in private education, very big house, luxury holidays, eating out regularly at the best restaurants, always buying the newest expensive car, leaving too much money to your children, buying expensive luxury items, becoming lazy, full bladder effect: That you "piss" your money out or buying a lot of things you don´t need. Don't realizing your deeper reel needs and succumb to superficial needs that are marketed to you. Getting to think that you know everything, Getting too much ego, Envy....?

Earnings and investor conference call are coming tomorrow. So people are buying in the hope of good news.

I bought some Berkshire b shares. The statistical weak months September and October are over. The election is coming to the end and there could be a rally, because of ending of uncertainty. Results are coming at Saturday and I am betting on that the gift will still keep giving.

Jim Grant says ‘the greatest equity investor’ — Warren Buffett — is trying to warn you about US stocks and is supposedly choosing this 1 asset class over equities. Should you follow suit? https://www.msn.com/en-us/money/savingandinvesting/jim-grant-says-the-greatest-equity-investor-warren-buffett-is-trying-to-warn-you-about-us-stocks-and-is-supposedly-choosing-this-1-asset-class-over-equities-should-you-follow-suit/ar-AA1t7Sx8?ocid=msedgntp&pc=LCTS&cvid=f28e9d8bad8040e39d30bb19615f5ab1&ei=12 Cheers!

Don´t cut the flowers, to water the weed. I got rich through Berkshire, so why should I sell? That doesn´t make sense. Berkshire has a lot of structural advantages and is very good at capital allocation and very rational and Munger and Buffett advise their children not to sell. It´s a No-Brainer not to sell (of course also because of taxes). Don´t kill your golden goose. The money managers always want that people sell their Berkshire, probably for their self-interest. I have heard a 100 times that this and this stock is smaller, so it has to outperform Berkshire. Most of the times it doesn´t work out and it ends badly.

In the second quarter the biggest purchase of Fairfax was a SP 500 Vanguard ETF: https://www.dataroma.com/m/holdings.php?m=FFH Anyone know the reasoning of this purchase? Diversify from deep value style? Exposure to unpredictable tech sector? Stability? Betting on Trump that he wins the election? Scarcity of other good investments? I remember a quote of Buffett, that it is probably a mistake for very good investors to index, so just wondering.

+1 I would do the 20 punch card model from Buffett and in the other time you do what you enjoy most in life. Live life to the fullest.

Yeah, it was wishful thinking, but it was a lot of fun.