John Hjorth

Jeff, Ha! - Exactly this! [One will never know in advance - Just get used to it!]

thepupil, Great post! - & thank you for sharing your thoughts.

Thank you for sharing, gokou3, I sincerely hate this wholeheartedly [,but it was already expected for my part]. -Hum-hoo ...

Thank you for making my day, Xerxes!

Thank you for sharing, @TREVNI There is really no way here on CoBF to express the gratitude I posses for sharing your work on Berkshire Hathaway with others. Simply put: An absolutely awesome performance! - based on persistence [stubbornness [<- ? [ : - )] ], "never yield", "never give up" et. al.]. - - - o 0 o - - - Again, thank you.

Thank you for sharing, @LearningMachine, Indeed, the basic question to ask is not what FED will do [subject to : We're in an inflation environment right now], but if we're in an inflationary environment, or not. Examples : Timber prices going beserk [covered by investment ideas actively discussed here on CoBF recently], & Steel prices going beserk [not covered here on CoBF?]. - - - o 0 o - - - Pretty amazing to look at things right now, shying away & doing nothing, aware of being out of my own circle competence! - - - o 0 o - - - How will all this play out going forward? -Personally, I've no idea [about future inflation, or not].

Thank you for sharing, dcollon, -Fun on a Friday! [ : - D ]

Thank you for sharing, Xerxes, However, useless & clear hindsight bias. Nobody knew back then - except perhaps Mr. Buffett & Mr. Hamburg [on overall level, & gradually over time] - how the liquidity needs of the Berkshire subsidiaries evolved over time, at that time.

I seldom participate in macro topics here on CoBF, so please take this post as it is. To me, the topic title in this topic is somehow void, because there is an underlying, more basic, issue at hand. Aswath Damodaran [May 24th 2021]: Musings on Markets : Inflation and Investing: False Alarm or Fair Warning?

Not bad at all, if one can find just one listed company [or a few], which appear priced in the market based on rationality right now. [Humm-ho!]

Thank you for sharing, Xerxes, I just ordered : David F. Swensen : Unconventional success, & David F. Swensen : Pioneering Portfolio Management at saxo.com .

Thank you, Mike, I've read several places over the years, that Mr. Swensen was very successful in his work for Yale. RIP.

Mike, Do we have this book in CoBF Books forum? - I do not recall seeing it there.

WAG : ERICOPOLY.

The place to start ... is just that... : The place to start. Just start to commit capital to your best ideas. Shortcuts [to success] don't exist, and you'll not find them here on CoBF.