nickenumbers

Great feedback. Thanks guys. As we all know, it is a journey, not a destination. Each podcast, person or investor has the potential to teach us a little along the journey... But, when we no longer get enough benefit, or have integrated the lessons, we should be prepared to find a new teacher. The first time I read Phil Fisher, I was bored to death. The 2nd time, I COULDN'T put it down. SO good. I use to dislike Bill Ackman. I know he is a lightening rod.. But.... I read his book Confidence Man, and I have a much wider appreciation for him now... He has flashes of being brave and brilliant! Those are just 2 examples. Stig and Preston are thoughtful guys too. Cheers!

Yes, I like listening to the TIP podcast from time to time too. I particularly like when they have a quarterly mastermind conversation, with the 4 different perspectives. I wonder if Stig's partner Preston wore out everyone's patience with his mental anchor on Bitcoin and crypto. I think it is one tool to consider, but it is not the whole tool box. I wonder if Stig had enough of Preston's crypto monolog and that might be why they are not doing the podcast together as much.. I like it better this way with Stig. I like Preston when he has an open clear mind to everything... but he was becoming a bit myopic. Does anyone have thoughts or information about the status of their co-hosting?

Excellent info thank you. It sounds like as long as they stay within the rules, they have some flexibility on timing of purchase, etc. It does permit them to be somewhat opportunistic about their repurchases.

Guys, I have a question regarding an example public company that has a plan in place to repurchase its own shares. When can they mechanically enter the market and repurchase the shares over a given month or a quarter? I know there are limits like they can't repurchase more than 25% of the average daily volume.. and there may be other rules that I don't know. Do the regulators require that they buy back shares via some daily plan and then set it to autopilot? Like $100MM total, and $5MM per day until the $100MM limit is hit. Or, does the company have the flexibility to wait until their company stock traded price goes down on a given day, and they can load up on the repurchase that day, and then stop buying for a week or two and then do it again? If you guys have any other interesting thoughts or strategy on what public companies do with buy backs, please share. I would love to learn a little more about the low level weeds of how the companies execute the share repurchases [buy backs.] Thanks.

How do I get reputation votes?? I am sure a few members are waiting to give me +++ positive credit but just don't know how? ?

I love the new site Parsad. It feels like we have jumped into the FUTURE!!! Well done!?? Most of the BEST thinkers that I know, I have met on this site!

All, Why doesn't Amazon split its share price from 3,110? I know the Buffett logic on not splitting the share price, so copy and paste to AMZN. I know that fractional investing is a thing. But, we know that splitting a share price is also acceptable and common on stock exchanges. AAPL did one last year or the year before. Why split the stock?- I am not hoping for financial alchemy, but I do think it is a nod to the public narrative about "the common person" being able to buy it at $30 or $300, but too high at $3000. It is optical. Again, I am not trying to get into a debate about stock splits, but are there thoughtful reasons why or why not Bezos hasn't or should split the stock?

I am admittedly speculating here, but we are all just a bunch of fanboys girls, fan-people offering up observations and ideas: A.) near the end of his letter he talks a fair amount about the types of shareholders that BRK has and he significantly prefers the Partners/Long Term shareholder owners, and he chuckles at the short term index/robo trade shareholders. B.) Couple that with the Significant share repurchase. C.) AND- Q.E.D. WEB and Charlie are happier to buy out partners at an increasing pace now who are not long term shareholders. Certainly there is the compounding there, but there is WEB psychology implied. Seems like more to come in the future at these present prices. Thoughts?

Munger continues to be super sharp. Hasn't lost a step.. And, he is a big fan of China's system and implementation of the economy. A defender of their system almost.

Munger- We will not be following Tesla into Bitcoin. ;D ;D ;D who is surprised?

"The investment banking profession will sell sh*t, as long as sh*t can be sold." Baaahhhh

I wonder what quotes Munger will come up with today at the DJM live yahoo event? Rat turds Baby Brains Who knows, but I can't wait.

Rational Advisor, No. One of the cobf members on this thread kindly pasted a link to the Financial Times, but it wasn't the letter. It also had a paywall and I don't subscribe to FT. So, no, I haven't seen the complete letter. If you have a link or a method to it, let me know. Thank you. PS- Worst case, it will turn up at some point.

Does anyone have the Baupost [seth Klarman] recent letter dated 1/2021, on the 2020 year? Or, does anyone know when it will be coming out? Thank all!

Wabuffo, I see it like you see it. Based on everything that I know and what I have heard on the earnings calls, the Asset Cap is significantly hamstring WFC from competing and maybe operating effectively, much less optimally. Due to lowing interest rates, increased savings rates and refinances, their present P&L is deteriorating. I agree and most of us do, that WFC had to get their house in order. The US gov put them in the penalty box and WFC botched lots of time in order to comply and right the ship. "If you mess with the bull, at some point you are going to get the HORNS.!" And, WFC got grabbed by the hair by the US Government and they deserve it. After that, new management [Great transparent management now], lots and lots of remediation..... I am not making their case for them, but if I was a regulator, I would have to start to ask.... "Have we punished enough?? Is there some way that we can begin to lessen the punishment? Are our continued actions as regulators eroding at what is left of a respected and important US bank and institution? All agree that WFC is working with the regulators." I think they should significantly reduce the restrictions on WFC, and continue to monitor moving forward [probation/work release.] I also wonder if WFC is just caught in slow government bureaucracy and lame duck politics. ???