Charlie

I like this comment: When reminded it's one of the top five largest companies in the world he said, "There's still a few slots above us." Can he get to the top slot? "Well," he said smiling, "We're working on it." :) I don´t think the investment will be in Greece, simply because of country risk.

http://finance.yahoo.com/news/buffett-says-likely-buy-small-203212772.html Buffett says will likely buy small business in Europe -Fox Business NEW YORK, Feb 4 (Reuters) - Billionaire investor Warren Buffett said on Wednesday he is likely to buy a small business in Western Europe and he would like to buy more businesses abroad. "We'd like to buy more businesses around the world," said Buffett, the head of conglomerate Berkshire Hathaway, in an interview with Fox Business. Over the past 50 years Berkshire has bought dozens of companies ranging from insurance to railroads. (Reporting by Luciana Lopez) Cheers!

Very good book! Thank you for recommending. :) Sometimes a little bit simple and repetitive. I like the chart at page 151 and the help from him of focusing on your goals/dreams.

http://www.omaha.com/money/buffett/warren-buffett-watch-berkshire-meeting-to-offer-anniversary-book-more/article_8ed7e55c-512a-530d-8b51-2a805da9c087.html Cheers!

Very good interviews. :) Thank you for posting.

This company could be interesting for Berkshire. I like the products very much. ;) http://www.reuters.com/article/2015/01/08/coppenrath-ma-idUSL6N0UN1KT20150108 Buyout groups bid for German frozen cake company Coppenrath - sources Thu, Jan 8 2015 FRANKFURT, Jan 8 (Reuters) - Several private equity firms have made preliminary bids for German frozen cake company Coppenrath & Wiese in a deal that could be worth around 400 million euros ($470 million), according to two people familiar with the transaction. EQT, Cinven, CVC and Montagu are among the interested parties, the sources said. Final offers for the family-owned company - founded in 1975 by two pastry chefs whose families have been involved in confectionery for 200 years - are due in coming days, they added. The final bids are likely to value the business at more than 10 times the group's 2014 earnings before interest, taxes, depreciation and amortisation of 36 million euros, the sources said. German food group Oetker had also expressed interest in Coppenrath - which employs 2000 staff - but talks collapsed over price and Germany's market leader for frozen pizza is not taking part in the current bidding, one of the sources said. But the source added: "I would not rule out that the main objective of the auction has been to push up the price and would not be surprised if Oetker ends up buying Coppenrath." Coppenrath, Oetker, and the buyout groups all declined to comment, while investment banks M.M. Warburg and C.W. Downer, which are organising the sale, were not immediately available for comment. ($1 = 0.8495 euros) (Reporting by Arno Schuetze; Additional reporting by Elke Ahlswede; Editing by Pravin Char) Cheers!

Merry Christmas and a Happy New Year!!! :) Thank you to Sanjeev for this great message board.

"BRK was selling for BV and below BV 3-5 years ago. Bought then, it was the ultimate value buy in a lifetime." +1 At the time I had 50% in Berkshire and bought more just before the repurchase announcement. Since then I enjoyed the ride. ;) At the moment I´m invested 99% in Berkshire and 1% in IBM. Regarding selling I am constantly reminded of Munger who said to his relatives at the Berkshire Meeting: "Don´t be so dumb to sell your Berkshire shares." and Buffett said: "That goes for the Buffett family as well." :)

Here is an article from a very good Buffett follower Francois Rochon who thinks there are better times ahead for the stock market. http://www.givernycapital.com/assets/documents/192/2014_07_14_Gazette.pdf?1407936284 :)

I really loved the book. :) A very good honest book. I liked the psychological stories about Wall Street during the Crisis and realized what an amazing advantage it is to live in a small, boring city. ;) I also liked the envy stories. Does anyone know Guy Spiers holdings?

http://www.businessinsider.com/warren-buffett-speaks-on-cnbc-oct-2-2014-10

"Over the past few years, Munger has been rather bullish over BRK's future." I like this quote: "Part of what we did should be done by others, but it isn’t. There are vast institutional pressures on people to do it differently. Will it continue? I think Berkshire’s going to continue way better than most people think. Way better." :)

P/B of 1,3284. Just 10,7% above buyback level. The gift that keeps giving. :)

After 24 years Germany today has the chance to win the World Cup again. In 1990 in the finale they won against Argentina. ;) I hope that history rhymes. :)

"I really hope somebody kicks out Brazil." +1 At Tuesday Brasil against Germany will be a very interesting game. Neymar and the captain of Brasil don´t play, so I think it will probably a 50:50 chance. :)

Statistically no european team ever won in Latin America. It will be interesting to see if this statistic will prove to be true.... :)

"Quote from: giofranchi on Today at 02:22:30 AM What really matters is that Europe is different: we have a common currency, without a political nor a fiscal union… this simply cannot go on forever… and you very well know what Herbert Stein had to say about things that cannot go on forever! ;) I agree completely, only adding that European politicians tend to underestimate market forces and vastly overestimate the efficacy of their possible courses of action." Munger said that he thinks Europe will muddle through. Europe did so in the past and I think it will do so in the future. ;)

"I don't think that this is contradictory. Why should Germany leaving the Euro be bad for Spanish RE?" you are probably right that it is not contradictory, but I think it will politically not happen that Germany leaves the Euro. ;)

"Interestingly, both George Soros and Ray Dalio think that Germany leaving the Euro is one of the more probable outcomes" Interestingly George Soros is investing in Spanish real estate. George Soros has always the tendency to describe ultimate worst cases. It is often more important to look what the gurus do, than what they write. ;) I was in March in Spain and I also think Spanish real estate has very good return potential over the next five years. :)

"If you're looking for some risk averse people outside Japan, Germany might very well be the place you're going to find them." I mean business people who are incentivied from low interest rates, not politicians. :)

I don´t believe there will be big deflation in the euro zone. In Greece there is some deflation. Munger once said that Japan got Deflation because of the psychology of the Japanese people and Japanese people didn´t take any risks anymore. This is not happening in the US oder Europe. Buffett once said that he doesn't´t think deflation will happen in the US. John Templetion once said that most people won´t see deflation in their life time. Since I live in the euro zone, everybody around me is spending like crazy and it is understandable and make sense with this low interest rates. It simply doesn´t look like deflation. ;)

http://www.bloomberg.com/news/2014-04-30/buffett-brand-spreads-as-midamerican-takes-berkshire-name.html Cheers! :)

Here is the full transcript: http://www.cnbc.com/id/101608436?__source=yahoo%7cfinance%7cheadline%7cheadline%7cstory&par=yahoo&doc=101608436%7cCNBC%20transcript:%20Warren%20B Cheers!

I would be interested in the question if he thinks the business cycle has gotten longer and if he thinks so, why? Thank you! :)

I will probably retire at an early age since most of my money is in Berkshire. :) Some of the important lessons I learned from Buffett and Munger: 1. Circle of Competence: You have to know what you know. I think more than 95% of people overestimate their circle of competence. 2. Focused thinking: If your mind doesn´t tend to focus, nothing will help. 3. Health is more than 95% of success. 4. Try to be likeable. 5. Search for Lollapalooza Effects. 6. Try to contribute something positive to the world.