I'm an aging Boomer and still working in our family business. The reason I bring this up is we are continually having to change and adapt. It has been that way since our beginning in the 1980s and has been in hyperdrive adaptation mode in recent years. Competition, marketing trends, generational aspects, staffing, supply chain disruptions, remote work, Covid, inflation and other aspects requiring continual adaptation. My understanding is Darwin's famous line: "Survival of the Fittest" is best interpreted as "survival of the best adapted".

My impression is everything is always in adaptation mode. Banks recently adapting or failing to adapt to changes in their ecosystem is an example. Investors adapting to evaluating changes in the larger financial ecosystem and so forth. A long list of adaptations underway affecting our investments/potential investments would likely take several pages to list

This is why the comments shared on this wonderful board have value. Sometimes I find value in seeing herd aspects in comments. Herd values can sometimes be a good signal within the noise and sometimes can be a contra signal. I would remind everyone of Cialdini's exposition of Social Proof. I subscribe to several magazines/newspapers, two curated daily investment news feeds and daily view assorted investing or business related podcasts. Lots of learning going on together with heavy mental commitment to filter and/or balance differing points of view. I suspect there are many others on this esteemed board who similarly follow this type of information collecting path.

All this is to say I appreciate what is posted on this board. A special big thanks to those who take the time to assemble Berkshire evaluation numbers.

Uwharrie