Hints and tips:
...) big enough to make a meaningful impact on Berkshire’s earnings, (b) possible to reliably value, (c) have trustworthy and competent management, and (d) are available at a reasonable price....
...cash-pay; d) something else....
...TCI made $12.9bn for investors and ended last year up 33 per cent, ahead of the S&P 500 index’s 24 per cent rise....
...But otherwise, give me a V-sweet C-suite job any time. As if anyone would....
...At nearly 12 per cent it dwarfs the 7.5 per cent that US high-yield bonds pay, and is close to the effective yield of super-junky triple-C bonds....
...Another composer inspired by ragas was Terry Riley, and Brooklyn Raga Massive performed their In D, a homage to Riley’s In C, at a past festival....
...From S&P’s definitions: A short-term obligation rated ‘D’ is in default or in breach of an imputed promise....
...to c.$1.2bn....
...The S&P 500 is within a per cent or two of taking out the all-time high it set in late 2021. Most bond funds are likely to end the year with gains, too....
...In the case of the McKinsey report published in 2020, the main study gathered data about diversity on the boards and in the C-suites of more than 1,000 large global companies....
...(c) 1 LOB (“Services”) = almost all of Citi’s market cap....
...As ratings drop to C and D, the risk of default rises accordingly Developing nations with bad borrowing records may fall into these buckets....
...Housed in the Unité d’habitation — the most famous of the Swiss-French architect’s modernist housing developments throughout Europe — the 21 bedrooms are a monument to a modernist utopia that might have...
...“Is it true that triple-C firms have interest coverage ratios below 1? Definitely, but that’s always been the case....
...P Soleil d’Or gives bright yellow berries on red stems, and P rogersiana Flava has glossy yellow fruits....
...Chart from S&P Global, through September: Part of the reason for this is that companies are making money....
...The Fundsmith Equity fund, managed by Terry Smith, has been popular given its geographical spread and investment flexibility....
...Canada is the world’s fourth-biggest oil producer, pumping 4.8mn b/d of oil last year, of which oil sands accounted for 3.2mn b/d....
...High-yield (“junk”) bonds pay 8 per cent, and the lowest-quality triple-C junk yields 13 per cent....
...You do the S&P 500 questions. Alexandra Scaggs The S&P is a multinational index. Robin Wigglesworth Yes. Alexandra ScaggsI take no responsibility for whether this is right or not. OK, so 497....
...De Beauvau spent part of her childhood at the Château d’Haroué, the 18th-century estate that belonged to her father, Prince Marc de Beauvau-Caron, who was a great connoisseur of the arts....
...The chances of (c) are impossible to estimate, even granting that Putin looks weaker now....
...We’d be keen to hear from readers on this — bankers in particular....
...Elliott Smith is my favourite Gen X artist though.” — Terry Toland, Springfield, Virginia...
...Alliance Pharma, M&C Saatchi and YouGov all fall in this zone. But it’s not only about individual companies....
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