CanadianMunger

Dude do yourself a favor and edit or delete this post, it's really in poor taste

Congratulations sir!

Indeed John, the pics of Warren brought tears of gratitude to my eye. How lucky were we to have Charlie for 99 and Warren for 95+ years?

I would highly suggest a glencairn glass for this grade of scotch (I prefer the glencairn copita).. dramatically improved my ability to nose whisky. Cheers and enjoy

So Charlie built the house he spent decades in? No AC? Knowing his obsession with detail he probably designed it to stay cool as possible. What a legend. Rest easy Charles T. Munger, and Thanks for Everything

gfp - from your posts its pretty clear that your are quite adept operating in the stock and bond market. So why bother with the hassle of real estate investing?

Well, sure wish I had listed to Viking in the second post of this thread!

In 1964 Stanton made a verbal tender offer of $111⁄2 per share for the company to buy back Buffett's shares. Buffett agreed to the deal. A few weeks later Buffett received the tender offer in writing, but the tender offer was for only $113⁄8. Buffett later admitted that this lower (undercutting offer) made him angry.[2] Instead of selling at the slightly lower price, Buffett decided to buy more of the stock to take control of the company and fire Stanton. Even after 60 years, this activist means business!

Thanks gfp. Can you or someone else explain the "First" paragraph and what it means that Charlie left everything to the Munger Community Property trust please? Does "priority to duty over property" indicate some sort of merit based system of distributing assets?

Come on man this is a value investors forum, way better options available for about a third of the price haha

I love Warren but the size of this cash pile is...Indefensible

A true original. Thanks for sharing your wisdom all these years Charlie. Rest in peace.

As usual, the best take around.

gfp - Your explanation looks spot on, great post. I can't recall Berkshire initiating a management change of an acquisition this quickly before(?) so yeah it looks like they weren't happy being gamed. edit: imo, gfp your commentary on Berkshire has the most signal to noise ratio and that includes the greats such as mungo and rationalwalk among others. I always look forward to reading your posts - thanks sir!

Royal Bank of Canada injects cash into US subsiduary: https://finance.yahoo.com/news/2-rbc-pumps-capital-californian-154026168.html

@John Hjorth Was that you?!?

I'm pretty sure Buffett wants to keep on buying Oxy, so it's no surprise he didn't give a straight answer on it. Also, I'm pretty sure he intentionally telegraphed that Berkshire will not be purchasing Oxy outright to front run the arb's that would come in as the stake goes up. We'll see what happens.

I have a feeling the letter is getting shorter due to: 1) Nothing new to say as mentioned above by someone 2) Decreasing the expectations for Greg to write a long letter after Buffett leaves the scene

$1B was definitely disappointing, considering the increase to the cash pile. Munger has commented before that the buybacks have been too restrained, and I agree!

Second anniversary of this post. November 1, 2020 to November 1, 2022: Berkshire: $202.33 --> $294.13 45% Brookfield: $39.59CAD --> $54.55CAD 38% Fairfax: $350.24CAD --> $670CAD 91% The BAM and FFH numbers don't include dividends and not sure if BAM had any spinoffs during this time. Would be lovely if someone can post a total return graph including S&P500, or direct me to a site where I can obtain and post. Thanks. Fairfax clearly in the lead two years into the hypothetical ten year holding period. Will be interesting to see how this plays out in the coming years.

Check out the two interviews Tim Ferriss did with Edward Thorp this year. Thorp is 90, yet looks 60 and has reinvented himself multiple times. Lots of topics are covered, including aging, investing and as an added bonus a few Buffett anecdotes. I prefer transcripts, so here are the links: https://tim.blog/2022/05/28/ed-thorp-transcript/ https://tim.blog/2022/06/30/edward-o-thorp-2-transcript/

It's odd because Warren seemed sharp in the Charlie Rose interview. Perhaps it was edited and condensed? Took a quick reminisce tour through the CNBC annual meeting archive starting in 1994, and skipped every 5 years. Warren still seemed pretty sharp even last year. TBH it gives me pause as BRK is my largest holding. He has noted that the board will know when to take the keys away - but lets be honest - these people have adored and loved him for decades. They say an experience is not only valued on the whole but particularly based on how it ends. I hope my last impressions of the GREATEST OF ALL TIME are not what we saw today. I thought I would never say this, but perhaps it is time Warren retired. -CM

Clicking the blue dot located to the left of a topic should take you to the first unread post.

Berkshire, Constellation Software & Alphabet

Disagree with all of this. Nothing further to add. -CM