“when we took over berkshire, berkshire was selling at $15 a share and gold was selling at $20 an ounce. And gold is now $1600 and berkshire is $120,000. but you take take a broader example. if you buy an ounce of gold today and you hold it for 100 years, you can go to it every day and you could coo to it and fondle it and 100 years from now, you’ll have one ounce of gold and it won’t have done anything for you in between. You buy 100 acres of farm land, it will produce for you every year. You can buy more farmland, all kinds of things. And you still have 100 acres of farmland at the end of 100 years. You could buy the dow jones industrial average for 66 at the start of 1900. Gold was then $20. At the end, it was 11,400, but you would have gotten dividends for 100 years. So a decent productive asset will kill an unproductive asset.”………….

viaWHY WARREN BUFFETT HATES GOLD | PRAGMATIC CAPITALISM.

The New York Times dredges up the open secret that no one is in the stock market anymore.  Nathaniel Popper plaintively lays out the statistics and then consults a handful of sources to understand what’s going on…

via“Where is Everybody?” | The Reformed Broker.

Two years after the frightening spring day when the Dow Jones Industrial Average lost and regained about 600 points in a matter of minutes, we still don’t really know why. This is a problem, because it means something similar — or worse — could happen again.

Flash-Crash Story Looks More Like a Fairy Tale – Bloomberg.

De som prenumererar får möjlighet att läsa av temperaturen på börsen innan måndagens börsdag börjar. Normalt skickas den ut 2-3 dagar innan den publiceras här på bloggen. Det du läser nu kunde du alltså fått redan för två till tre dagar sedan. 

Du anmäler dig här. (gratis) 

Bulls 44% ( +2%)
Neutrala 33% ( +12%)
Bears 22% ( -14%)

Äntligen någon som tänkt till i fondbranschen! Det här är riktigt bra grejer…

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Fondanalysföretaget Morningstar låter finansmarknadsminister Peter Norman stå modell för ett nytt mått på fondavgift….

”Norman-belopp” nytt mått på fondavgift | Investera | SvD.

Spara efter förmåga men våga ta risk. Även en liten slant i månaden blir pengar till en grundplåt när barnen ska flytta hemifrån.

viaInvestera i barnens portfölj tidigt | Investera | SvD.

Det säger Kinneviks ordförande Cristina Stenbeck till Nyhetsbyrån Direkt i en intervju inför veckans stämmor i Kinneviksfären.

”Det handlar om en förmåga att kunna växa sig till ett stort bolag och ha förutsättningar att vara det länge, som Millicom de senaste 25 åren. Tittar man exempelvis på Zalandos storlek kan man säga att vi redan är i mål på denna punkt. Det är helt enastående vad som uppnåtts i det bolaget under de tre första åren”, säger Kinneviks ordförande.

viaKinneviks nästa kärninnehav finns i onlineportföljen | SvD.

This weekend, at Berkshire Hathaway’s annual meeting, tens of thousands of Warren Buffett faithful have descended on Omaha, the hometown of Buffett and his company. Before sunrise, investors lined up to get good seats in the Centurylink Center, which is filled with Berkshire shareholders………….

viaThe only analyst who doesn’t like Buffett’s Berkshire – The Term Sheet: Fortune’s deals blog Term Sheet.

At Berkshire Hathaway’s (BRKA) annual meeting on Saturday, Warren Buffett fielded questions from shareholders, journalists and analysts…..

via5 things learned at Berkshire’s Annual Meeting – The Term Sheet: Fortune’s deals blog Term Sheet.

Ni missar väl inte köpsignalen i OMX? Jag har fått en skur av köpsignaler från mina system och kommer köpa ganska aggresivt på 1 till 3 dagars sikt beroende på utveckling under morgondagen.

Carlos Slim has always had a complicated relationship with philanthropy.

The Mexican billionaire, who Forbes still lists as the world’s richest man, said in 2007 that he could do more to help fight poverty by building businesses than by “being a Santa Claus.”

World’s Richest Man: ‘Charity Doesn’t Solve Anything’ – The Wealth Report – WSJ.

One of the most controversial issues surrounding inequality is work effort.  Some on the right argue that  top earners are successful in part because they work harder than others. Many on the left argue that the middle class and poor work just as hard – maybe even harder, with multiple jobs — but that the economic deck is stacked against them………

viaDo the Wealthy Work Harder Than the Rest? – The Wealth Report – WSJ.

It’s  the “best investment ever!” It’s the biggest liquidity event ever! It’s about to unleash a new wealth wave in America! It’s a boon to wealth managers and Palo Alto realtors. It’s going to solve California’s budget problems, help fix our education system and feed the poor in Africa………….

viaWill Facebook Really Create 1,000 Millionaires? – The Wealth Report – WSJ.

Benjamin Graham doesn’t need an introduction. His sober look at the stock market has built an enormous following and for a good reason.

Here are some of his brilliant quotes and my comments on them…….

10 Insights I Learned from Benjamin Graham | Ivanhoff Capital.

It’s Woodstock for Capitalism time again. Berkshire Hathaway’s chairman and chief executive, Warren Buffett, and the company’s vice chairman, Charlie Munger, will address shareholders in Omaha, Neb., for five hours or so starting Saturday morning. The question-and-answer session is famously wide-ranging, though this year is likely to bring more focus on the company’s operations, with a panel of three Wall Street analysts asking their own questions, in addition to an existing panel of three journalists who screen questions from investors and others. Here, based on a decidedly unscientific canvassing of Berkshire investors and published material, are some of the questions Buffett may face…….

viaTen Questions for Warren Buffett – Deal Journal – WSJ.

This rule sounds simple, but is one of the most difficult psychological concepts for human beings – it’s one of the main reasons trading is so hard in my opinion.   I’ve traded for about 15 years, and I’m STILL trying to get better at this concept.   The best traders have absolutely no problem at all “locking in a loss.”……..

viaTrading Rule #4 – Learn To Take Losses | Kid Dynamite’s World.

Whenever I attend investment conferences or speak to a group of traders, there are always a few people looking for the “Holy Grail.” In other words, they are searching for some magical formula or a crystal ball to tell them when to get in and out of the market. I have news for you: IT DOESN’T EXIST! After trading for 16 years, the only “magical formula” I found is: hard work, gain experience, learn from mistakes, and build confidence……

viaGive Yourself A Chance | Joe Fahmy The Next Big Move.

For years the laptop would sit beside my chair, always on, always with the futures feed charted in 5 minute candlesticks. During the Armageddon trade of 2008 the laptop with the futures feed running would sit on my nightstand, beside my alarm clock. It felt good to be plugged in and up-to-date to the very last tick of the markets. I was watching the implosion of the financial capital of the world, in real time. I would tell my grand children about it.As I look back on those years of frightful sleep and stomach-churning days and evenings, Macbeth’s soliloquy speaks to me…………..

Why I Got Rid of My Real Time Futures Feed