46) Glen Tongue: next acquisition, what can shareholders do to help?

Our appetite is always there, we are not going to borrow a lot of
money, we are not going to issue shares, our cash balances will tend
to build. Lubrizol was $9B we are looking at a couple more that are
the same size, we cant do a really big elephant now, we wont stretch,
we have not taken extra risk because we dont need to

cm - very reluctant to issue shares, very different to other places,
friend sold to socialist country and country sold shares and said we
are getting this for nothing haha

wb - we hate issuing shares

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45) performance

No manager results should be shorter than 5 years,  in reference to Todd Combs

Do Swiss Re and Munich Re decrease reinsurance?

Less than $4b, so it would not change at all what we are willing to
do. We are way below capacity in regards to risk we are going to
tolerate.

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