@JohnHuber72 The U.S. Government already owns whatever share it likes in the profit stream of every company, as Buffett and Malone have noted.
The only reason for a Government to purchase shares directly is if it wants to vote them as an activist.
@Bkclaims Similar incident in Camden, Maine involving an oak tree and ocean views.
The victims had the tree or soil tested, found the poison and sued. The perpetrating neighbor had to pay $1.7M in fines and damages.
https://t.co/DbR3T9aRDt
@Bkclaims Fun video. Good reminder of how far we have come.
My step-father programmed mainframes for Control Data.
At home sometimes he would put the telephone handset onto the modem, beep incessantly, tie up the line, and 5 minutes later we could look at a janky text website.
@paulg Great essay, as usual.
Related quotes by Buffett: (paraphrased)
"A brand is a promise."
"Buy commodities, sell brands."
I don't find brands as dark as you in all cases. Even in the watch golden age, brands likely provided valuable, practical signaling about reliability.
Charlie Munger:
"I have always preferred the system of retirement where you can't quite tell from observing from the outside whether the man is working retired."
Warren Buffett:
"He does it well too."
1994 Berkshire Hathaway Annual Meeting.
@bkclaims The Dollar had already gone on and off the gold standard prior to 1972, during WWII for instance. Yeah?
Didn't the British Pound go on and off the gold standard a few times too while it was the reserve currency?
I don't think this is a new experiment.
@QCompounding Great chart. Thank you for sharing. I have never seen the information presented in this format before. I would love to see a longer-term version. This is perhaps an even more digestible format than the graphs used in the "Triumph of the Optimists" book.
@tamarawinter The River of Doubt book about Teddy's post-presidency adventure exploring a river deep in Brazil is mind-bendingly good.
https://t.co/jpVyQ9PnaU
@SleepwellCap I would really like to know how Todd thinks about the valuation of $HEI. I hold a little that I bought years ago. I would love to buy more but can't wrap my head around paying up for a FCF yield of 1.5%.