Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤
No. of Recommendations: 9
No. of Recommendations: 1
If anyone has a link to a free or archived version, I would appreciate it. Thanks in advance!
No. of Recommendations: 8
No. of Recommendations: 1
Worked for me-Very good read! TYVM!
No. of Recommendations: 1
"And I prefer my less-expensive way of life'. Who in the hell with my wealth lives in the same house he built 70 years ago?" What a beautiful comment! For a fleeting second you think "wow, that's pretty self deprecating" but then it hits you that he's basically saying he's so far beyond worrying about such things that's he's talking down to the reader that doesn't understand this principle.
No. of Recommendations: 15
I found the last exchange very interesting:
"Q: You've spoken about the importance of psychology in investing. Is there a cognitive bias that you think is particularly significant in the markets today?
A: There are lots of cognitive biases that are very significant. One is the constant tendency to overrate your own intelligence and skills in deciding what to do and what not to do."
Most of us probably don't appreciate that 50 years ago or so most people did not believe to be as smart as we think of ourselves. Presumably this is because of the overload of information and all that tech we are drowning in. Yet in today's stock market you rarely get ahead because of some piece of information few people have, and you never get ahead because of information everybody has.
Being smarter than others today means having a better system to filter out the noise, having better mental models, being more efficient. Charlie Munger is paradigmatic in this respect: Own a few great companies and sit on your ass. The problem is of course identifying those great companies, have the patience to wait for a great entry point and the psyche to be able to sit there doing nothing.
As a note aside, COVID made "vaccine experts and statisticians" out of total idiots who got their information from Twitter or Mr. Trump. In Germany, out of distrust in the FDA, big pharma Pfizer etc. hundreds of people lined up outside of an airport to take a totally untested "vaccine" made by a self-proclaimed biotech innovator (who was arrested on the spot).
We may laugh about these fools, but are they really that much different from us, when we become retail, media, accounting or tech "experts" and try to outperform the indices? Why are we trying to build our own egg beater, as Charlie calls it, instead of letting the real pros do the job for us?
No. of Recommendations: 4
Why the Trump bashing? Are we really better off as a country then we were three years ago?
No. of Recommendations: 2
Exactly
No. of Recommendations: 11
I believed it to be consensus that Mr. Trump's medical intuitions were particularly damaging:
https://www.businessinsider.com/kansas-man-consume...Sorry for opening this sort of "political" debate. (Interesting times, when stuff like this is considered politics...) I won't respond to any further remarks on this topic and hope to close it here.
No. of Recommendations: 1
DEVOLUTION
Sleepy Joe not real
No. of Recommendations: 3
Thanks for posting the link to the WSJ interview. I found this reader's comment interesting:
'I once happened to be sitting at a dinner table with Bill Gates and some other folks and I made the clever (in my mind) comment that buying BRK was like buying a mutual fund. Bill Gates slapped me down and said not at all, 90% of BRK's returns were from operating profits. I just sat there and smiled politely for the rest of the meal.'
No. of Recommendations: 32
"Why the Trump bashing?"
Seriously?
"Are we really better off as a country then we were three years ago?"
Most certainly we are. At least if a person cares about democracy, rule of law, freedom, and not letting fascist dictators cause problems in the world.
No. of Recommendations: 13
Seriously? ...Though you may well be right in all your comments--something I won't comment on--it's probably best to simply leave the topic alone and move along.
I try to practise visualizing in my mind someone being egregiously wrong on the internet, and my NOT correcting them. It takes real work: I'm very opinionated and a fast typist!
Jim
https://xkcd.com/386/
No. of Recommendations: 3
buffoon alert
No. of Recommendations: 0
WAIT UNTIL THE DJT HATERS FIGURE OUT HE PUT COUNTRY INTO DEVOLUTION
MELT DOWN IS GOING TO BE FUN TO OBSERVE
No. of Recommendations: 0
I try to practise visualizing in my mind someone being egregiously wrong on the internet, and my NOT correcting them.
An honorable intention - but it doesn't touch the core issue: That person A always "knows" with absolute certainty that he is right and person B is wrong --- and vice versa.
No. of Recommendations: 0
Oh, you're back.
No. of Recommendations: 13
An honorable intention - but it doesn't touch the core issue: That person A always "knows" with absolute certainty that he is right and person B is wrong --- and vice versa.
Oh, hey, it's all right to "know" that, whether in fact you're right or not.
The stretch goal is to have the strength not to bother to point it out, letting the misinformed remain misinformed.
Jim
