Charlie

Interesting to see that Francis Chou has nearly 41% in Berkshire Hathaway: https://www.dataroma.com/m/holdings.php?m=ca

I found this interesting: "Warren Buffett: (03:58:52) In that list of the 20 most valuable companies, three are Chinese. Now, if you’re looking out 30 years, probably things will be changing. My guess is more, but I don’t think it will top the United States, but who knows? It’s amazing what has been accomplished. Charlie Munger: (03:59:13) Yeah, really amazing. Warren Buffett: (03:59:15) They found what works. I mean, there’s nothing like finding something that works in order to sort of reinforce ideas over time. We’ll see what happens, but I would bet there will be more than three, but I will bet the United States has more than China has, too." I also liked Mungers comment that he prefers Berkshire to the SP 500.

https://www.morningstar.com/articles/1035882/whats-berkshire-hathaway-worth-today The gift that still keeps giving. ?

Bought some Berkshire b shares. Business results should be very good and there could be a pre-Berkshire annual meeting rallye.

"Prior site looked old and boring but was much quicker to scroll and read." "i am generally quite appreciative of this site and how it's run and try not to be a negative nancy, but the space efficiency is awful. Condensing on the activity stream mitigates this a little, but not fully." +1 "Being able to see what's new at a glance on one screen beats all the slick improvements unfortunately." +10 I like old and boring like the Berkshire website. The old site was much better to read. I also thought that I get old, so I don't like any kind of change anymore. ?

Get the money when it is cheap: Buffett’s Berkshire Returns to Yen Market With 4-Part Bond Sale https://finance.yahoo.com/news/buffett-berkshire-hathaway-returns-yen-002143670.html Cheers!

I liked the story of Munger when he spoke about Mrs. Blumkin when she called her sons I think it was "lazy bums". Also funny and noticeable when Munger called the investment profession 4% highly intelligent, diligent people and 96% shamans and fortune teller and the 96% think of themself of being productive and useful to keep there self-respect up. :)

"I like the letter. WEB is candid re: overpaying for PCP. He could've ignored it, as many CEO's do, but nobody here expected him to. I'm probably being short sighted thinking he should trim Apple, but he did a good job of outlining the case for holding. He might also be thinking about the mistake of not keeping a long term ownership stake in Disney. On another note, I'd prefer he reflect on the past rather than fluff me up for a hump that may never happen. I can see for myself that the bases are loaded. It's like he's built a power bat that swings itself. The occasional bunt will bring in runs too. As Spek & Cigarbutt pointed out, BHE has opportunities in next generation transmission. --- Considerable investments in the nation’s grid infrastructure are needed to adapt to new challenges and maintain system resiliency and reliability. The utility industry is accelerating investments in electricity infrastructure. For transmission lines, investment increased from $2 billion–$4 billion per year between 1995 and 2005 to $10 billion– $16 billion per year between 2010 and 2015. Investment in distribution infrastructure — including advanced distribution management systems, smart meters and inverters, new poles, and buried power lines — grew from $15.5 billion in 2006 to nearly $22.0 billion in 2015. Investment needs for grid modernization projects — which drive reductions in electricity bills, improve system reliability, and increase fuel and system efficiency — are estimated to range from $350 billion to $500 billion. An estimated $25 billion–$40 billion in additional transmission infrastructure investment is needed through 2025 just to comply with requirements associated with existing state-level renewable portfolio standards. www.businessroundtable.org/electricity-infrastructure --- Integrating high levels of variable renewable energy into electric power systems https://link.springer.com/article/10.1007%2Fs40565-017-0339-3 --- www.brkenergy.com/energy/transmission This is an industry that can address a number of issues, clean energy and job creation. Might manage to make a buck or two along the way. --- edit: Forgot to add, super happy about the buybacks ;D" + 1 I don´t think a lot of people would have liked reading about theoretical worst case scenarios of 2020 with much more deaths and destruction.... No wonder he is doing so much buybacks with a cheap stock price (P/B 1,2569). Very good solution for the annual meeting. It's just more fun and wisdom with Munger. It's still the gift that's keep giving.... :)

Bought some Berkshire b shares. Apple and BYD shares look very good and the results from other main businesses should also be very good. :)

Berkshire Hathaway Director Ronald Olson bought up Stock. https://www.barrons.com/articles/berkshire-hathaway-director-ronald-olson-bought-up-stock-51610145605?mod=past_editions Cheers!

"So Friday's close was around 1.185x quarter end book." I was a happy buyer. :) People at the stock market know the price of everything and the value of nothing. ;)

"Doctors are 3rd leading cause of death in the US." One antidote with the doctor is to chose the best specialised doctor in the field and educate yourself if the doctor is doing the right thing. Try to understand the incentives of the doctor ("You are running for your live and the doctor only for one meal") and seek second, third or more opinions of other good doctors. You have all the downside (that´s a lot like the investment business) and the doctor practically none. The authority seldom says "I don´t know", because of the authority status and that´s very dangerous. Be aware of the Man with only 1 hammer syndrome.

"Brkb" + 1 The earnings in 2 weeks should be pretty good and the share price is attractive. :)

https://omaha.com/business/local/omaha-s-megabillionaire-down-the-street-warren-buffett-set-to-celebrate-his-90th-birthday/article_52ccc925-378c-5094-8a1f-b57b3d3fb8bc.html "But he has recently been pretty religious about spending 25 minutes a day on a treadmill, something he does while watching the evening news. “All you guys who used up your muscles and joints when you were young, I carefully put mine away in a box when I was 6 to save them for old age, and I only pulled them out a few years ago,” he said. “They’ve never been used.” OK he is 25 minutes a day on a treadmill.... Perhaps I should try this. ;)

Perhaps he is walking, but he joked that he has good knees like a 6 year old.... This article looks good: https://runrepeat.com/what-running-does-to-your-body