Tag Archives: Charlie Munger

May 2021 Financial Planning and Capital Market Review – By John Kvale

Hello and Welcome to our May 2021 Financial Planning and Capital Market Update!

If you are too busy to read, feel free to listen as we describe our post and thoughts in friendly podcast audio format as well as Video!

Newbies –

We like to articulate our thoughts and review on a Monthly basis our Financial Planning Tips, Capital Markets and current events!

Hope you enjoy!

May 2021 Video

YouTube

Financial Planning Tips

Preparing to Hit the Sky Again

In this Break In Moment Post, an executive of the company Fligence reached out with regards to our fun TSA Posts through the closure of the country.

Their neatly designed website can be a very handy item for determining your possible time needs and delays as well as neatly follow our country to reopening at full speed.

Capital Market Comments

Inflation or No Inflation

In doing writings, I try to approach each article with a clear mind and head, especially if the post is heavy ….

Many times I try to completely forget the article or post from maybe just a week before….

Good News…. the Month of May was a success in clearing my mind as I accidentally pounded everyone over the head with Inflation stuff…..

My apologies, but it coming at us from so many directions made it top of mind….

At the Berkshire Hathaway meeting post, starring Warren Buffett and Charlie Munger, Inflation was all the chatter and a huge concern for them.

Then Here in our Jolts – job opening Post we looked at how there are tons of jobs to be had –

Here in our Favorite Dallas Federal Reserve Chair post, Robert Kaplan – Sooner rather than later, worries inflation may be coming if we stay too low on interest rates…

Lastly in this verbal tug of war post between Jim Bianco and Lacy Hunt, they could not more disagree very emphatically.

Time will tell who is correct in their thinking!

Have a Great Day, Talk to You at the End of June!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

Oracle of Omaha …. Warren Buffett Berkshire Hathaway Annual Meeting … Finally Made it Through … Thoughts

Each year for the last five (which is about when they began streaming the meetings), I am always enthusiastic about listening to the Berkshire Hathaway Annual Meeting, which prior to social distancing was more like a sporting event than a shareholder meeting.

Oh, for those that may be wondering, Berkshire Hathaway is headed by Warren Buffett age 90 (not Jimmy – being silly here) and Charlie Munger age 98. The name stems from a bankrupt textile company turned massive conglomerate filled with Insurance Companies (Geico) Railroads, and home builders (largest manufactured home builder in US) just to name a few.

Back to the meeting… Buffett honestly says (and it is true) the actual meeting is BOORING and Buffett even discourages folks to listen to the formal section, BUT there is an opening ceremony of such where Buffett has a 5-15 minute planned discussion followed by 3-3.5 hours of Q and A, most of which is known, but a few are sent in live and carefully reviewed and presented by Becky Quick of CNBC.

Finally A Way To Get Through The Meeting

So the last five years were a terrible failure as the attention span drifted before the entire meeting could be consumed…. Hey these guys are 90 and 98 and move at their own pace, but a wealth of VERY interesting opinions as well as knowledge.

This year a freak accidental trial was successful and made for a very enjoyable meeting review.

After finding a replay of the meeting on YouTube then cranking the speed up from 1x to 1.25 to 1.5 and finally landing on 1.75x normal speed, ta dah … the meeting was happily consumed with full 100% attention AND SOME NOTES!

These are in no sort of order, but basically organized as well as possible given the jumping of topics due to open questions – So here we go, hope you enjoy!

(These a not my opinions or thoughts, only a replay of Charlie and Warren’s high points)

Intro Discussion

Very Pro USA and Complimentary to Capital Creation in the USA

Brings a list of top largest 20 companies in the world, with total domination of USA

Currently have $145 Billion and only need $70 Billion – Current Asset Prices are Not Inviting to Warren and Charlie – Market is too fully priced (Sound Familiar?)

Sold Airlines to allow them to get Federal Funding

Munger Comment – His extra age seems to have loosened his muffler!

Higher State Taxes Chase some smart people away – Silly

SPACS are being created for Wall Street Not Investors and useless use of other peoples money – According to Charlie

Been and actor so long I do not know what I believe – Dogging on politicians and bad CEO’s

Buffett – More Politically PC

Low Interest Rates are causing very high asset prices

Inflationary prices are coming through the home building and other sectors, economy is red hot! Steel and scarcity of product

Furniture store red hot

More inflation going on than meets the eye- Yep

Both Admire Larry Summers convictions to Inflation concerns!

Great Closing Q & A Question:

What was greatest thing learned last year?

Munger: If you are not somewhat confused by what has happened you are not paying attention-

Buffett: Very interested in how this all works out!

Ok, so there you have it. 3.5 Hours condensed into one blog post with some high points that just by chance coincide with some of our thoughts….

Have a Great “Finally Made it Through a Berkshire Meeting” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

Why Investing is so Darn Hard !

9-2-14 from USA Today:

 

Morgan Stanley: “3000 on S&P 500 real possibility”

(That’s 50% higher than today!)

 

From CNBC 9-12-14:

 

Marc Faber’s investment strategy: ‘Only lose 50%’

 

Wall Street Journal 9-5-14:

 

“The Case for Sticking With Stocks—No Matter the Price”

 

Wall Street Journal 9-12-14:

 

Charlie Munger says ” I have not bought a stock in two years” … too expensive

 

This is why we never go ALL in/out …. note headlines are from a whopping 10 day period of time!!

Have a Great Monday!

John A. Kvale CFA, CFP

PS Because these opinions are so opposite, someone is likely to be correct … making the others COMPLETELY wrong …. Care to Guess ?? … Never all in/out !

http://www.jkfinancialinc.com
http://www.street-cents.com
8222 Douglas Ave # 590
Dallas, TX 75225