Buffett, 90, and Munger, 97, will give me all I can handle tomorrow. My game plan is to channel my inner Bill Walton using obscure references early in the first half. That will cause inexperienced investors to avoid my thread. Then I mix in a few jokes. finance.yahoo.com/brklivestream/
One luxury I have in doing BRK play-by-play is no paid subscribers, advertising or content marketing. If I want to channel Bill Walton and tell jokes, I can. Of course, if I did have paid subscribers, sold advertising or peddled merch, I might still channel Walton and tell jokes.
"The reason why we got into such idiocy in investment management is best illustrated by a story that I tell about the guy who sold fishing tackle. I asked him, ‘My god, they’re purple and green. Do fish really take these lures?’ And he said, ‘Mister, I don’t sell to fish.’”
"We get these questions a lot from the enterprising young. It’s a very intelligent question: You look at some old guy who’s rich and you ask, ‘How can I become like you, except faster?'l
You don’t want to be the man who had many people at his funeral, but they were there just to make sure he was dead. Or the guy who, at his funeral, the priest said, ‘Won’t anyone stand up and say anything nice about the deceased?’ and finally someone said, ‘His brother was worse'
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1/ Gwynne Shotwell: "The total addressable market for launch, with a conservative outlook on commercial human passengers, is probably about $6 billion. But the addressable market for global broadband is $1 trillion."
2/ Shotwell: "Starlink is best set up to serve rural villages and the rural population. We can do work in the city, but you can't put enough bandwidth down in a city to cover any sort of percentage of consumers in that cell." We want Starlink to look like consumer electronics."
3/ Shotwell; "We are definitely focused on consumer first. Not that we're not looking at enterprise markets — we definitely are. But the priority and emphasis are always on the consumer."
Consumer markets not served by fiber are a vastly bigger total addressable market.
"COVID can have long-term effects including pulmonary, cardiovascular, renal and nervous system, and psychological effects. Common symptoms include fatigue, breathlessness, cough, loss of taste or smell (or both), myalgia, and gastrointestinal disturbance."thelancet.com/journals/lanin…
"There's the possibility there was initial damage from the virus — such as damage to nerve pathways that are then very slow to recover. This could explain some of the neurologic symptoms and pain patients experience even after mild COVID." news.harvard.edu/gazette/story/…
Do you really want to increase the probability that you will get Covid by not getting a second shot?
"More than five million people, or nearly 8% of those who got a first shot of the Pfizer or Moderna vaccines, have missed their second doses." msn.com/en-us/news/us/…
2/ Because it owns and operates some restaurants itself, McDonald's knows exactly how to "solve for" franchisee profitability by adjusting wholesale transfer pricing of supplies. McDonald's wants franchisees to do well financially, but not so well that they quit.
3/ How does MCD protect itself from the pricing power of wholesale suppliers? MCD's "raw material input is generic. It's easy to source from other suppliers." marketrealist.com/2019/11/must-k…
"It's your alternatives that matter." Charlie Munger
I've never felt more strongly that I won the ovarian lottery than this past week.
An Amazon delivery driver asked: "What job should I get to be able to afford a house like yours." My answer was: "I was lucky in many ways. Don't rely that. Own a business."
Lucky Man and The Sea.
While traveling in the waters of Puget Sound this weekend shortly after the picture in the previous tweet was taken I saw this. Do you know what it was?
I edited a story about this creature once.
I didn't react fast enough to take this picture below, but it is what I saw.
Dall’s porpoise (Phocenoides dalli) are one of the fastest cetaceans, their surface behavior usually produces rooster tails. eopugetsound.org/articles/statu…
These are the closing two paragraphs of a Duwamish ledgend written down by my Great Grandfather who was acting as their lawyer.