Parsad

Ok fellow boardmembers! As you know, I started supporting the Crohn's & Colitis Foundation after my friend and Prem Watsa's executive assistant, JoAnn Butler, passed away. She suffered from Crohn's all of her life, and passed away from colon cancer which Crohn's patients are much more susceptible to. Our Fairfax Financial Shareholder's Dinner raises money for the CCFC in JoAnn's name, and last year we raised over $100,000 with BC's first ICE Gala which I helped with. Alot of you support the dinner in Toronto, and because of that, they asked Corner Market Capital to be one of their corporate chairs for their National Gutsy Walk on June 9th. So Alnesh and I have a grudge match going on who can raise the most in pledges. Even though he is part owner of Corner Market Capital, he's got a corporate team for his accounting firm, Quantum Advisory Partners LLP, doing the Vancouver walk. While Corner Market Capital, along with my friends and family, are doing the Surrey walk. So, I thought I would tap into my huge base of value investors, while Alnesh taps into his huge base of mining/accounting clients. To pledge for my team and walk, go to: https://secure.ccfcfindthecure.ca/ParticipantPage.aspx?L=2&CCID=107&PID=24272&GC=GTv2 You can pledge whatever you want...10 cents to $10,000...as if! Every penny counts so that I can kick Alnesh's butt. Cheers and thanks!

Yes, I'm not sure why it said Apple, when it was really about Andy Zaky. I've changed the title to the same as the article and link. Cheers! Who has heard of Andy Zacky vs who has heard of AAPLE. Inter net marketing 101 if you want clicks use chicks, sex sells. Sorry if the title was misleading LOL! No worries. Cheers!

This is last call for tickets for our "Fairfax Financial Shareholder's Dinner". If you are attending, tickets need to be purchased before midnight April 5th! Details, including the menu and speakers, are below: Fairfax Financial 8th Annual Shareholder's Dinner Fairmont Royal York Ballroom 6:30pm-11:00pm Host: Sanjeev Parsad, Founder of "Corner of Berkshire & Fairfax" website & Corner Market Capital 6:30pm - Meet & Greet 6:45pm - Dinner 7:00pm - Dr. Kevin Glasgow, CEO of the Crohn's & Colitis Foundation of Canada 7:30pm - David Polonitza & Andrew Berger - AB Value Management LLC 8:00pm - Ben Raybould - Arlington Value Capital LLC 8:45pm - Presentation Guests (from you know where!) We will of course have our usual raffle and silent auction. A wonderful dinner is on the menu, and a cash bar will be open again. Tickets are $150 (including dinner), or $75 (no dinner, water & beverages will be available). Get your tickets soon, as we are going to be running low. Just go to the "Corner of Berkshire & Fairfax" homepage (www.cornerofberkshireandfairfax.ca), and click on the ticket purchase box on the right hand side. All profits from ticket sales, auctions, and raffle will be donated to the "Crohn's & Colitis Foundation of Canada", in memory of Prem Watsa's executive assistant, JoAnn Butler. BUFFET MENU COLD Baby Spinach Salad with Roasted Butternut Squash, Dried Apples, Toasted Pecans and St. Lawrence Market Mustard Vinaigrette Red Cabbage Chiffonade with Golden Raisins, Mandarin Orange Segments, Fresh Chive Batons and Dill-Yogurt Dressing Tri-Coloured Penne Salad with a Julienne of Prosciutto, Grilled Asparagus, Peas, Shaved Parmesan and a White Wine-Tarragon Vinaigrette Fire-Roasted Vegetable Salad with Zucchini, Tomatoes, Eggplant, Green and Yellow Peppers, Chipotle Tomato Vinaigrette with Oregano ENTRÉES Niagara Pear Glazed Chicken Breast with Pimento Potato Purée and Black Currant Jus Citrus Crusted Medallion of Atlantic Salmon with Saffron Risotto and Lemon Balm Cream Sauce Cumin Roasted Pork Loin with Savoy Cabbage and New Potato Ragout Vegetarian Wild Mushroom Cannelloni Baked in Tomato Sauce and Finished with Five Cheese Gratin Brown Rice Pilaf, Fresh Herbs & caramelized Onions DESSERTS Pastry Chef’s Selection of House Make Desserts including: Assortment of French Pastries Lemon Cranberry Cheese Cake Chocolate Flourless Cake Maple Mousse Chocolate Coffee Cups Canadian Sugar Tarts Guava and Mango Shots Fresh Fruit Display Fresh Brewed 100% Columbian Rainforest Alliance Coffee, Decaffeinated Coffee, Fairmont Blended Black, Green and Herbal Teas

Yes, I'm not sure why it said Apple, when it was really about Andy Zaky. I've changed the title to the same as the article and link. Cheers!

But then that can be construed as egotistical as well. I'm not sure there is any right way or wrong way to do this, but as long as the inquisitive mind is polite about it, and the respondent has the time and inclination to respond...it's all good! ;D I think there is also a level of "pay it forward/back" involved here. Alot of people feel indebted to each other over the years because of the knowledge and comraderie they've shared. Cheers!

The same entity has to utilize the NOL's, but not necessarily the same industry to some extent. Some of that $32M is in the form of tax credits I would presume, and those have to be in the same industry. I don't know what their hurdles are regarding revenues before they get paid anything, so there is no way to tell until they disclose. We also don't know if you have to include any marketing expense by the Weinsteins, what portion goes to the lawsuit settlement, etc. It's somewhat complicated until shareholders find out directly from the company where they stand. Cheers!

There's $32M in NOL's! Also, like I said in the previous post...unlikely that you will get this congregation of value investors, who are also friends, in a company ever again as most of their shares were bought long ago when the company was far larger. Cheers!

Too kind! I'm just a long-term visitor in Italy wondering, like twacowfca, why my US dollar seems so eviscerated, but nevertheless enjoying the 'bread and cheese' as well as the sights of the 'old world' (and happy to lose those 5 lbs!) I think eating bread, especially freshly baked Southern European ,and cheese is way under rated and undervalued especially if you throw in some inexpensive but good wine. I wonder if they are not a lot smarter then the rest of us who work our ass off, are always in a hurry, eat crappy fast food, etc Living a simpler life without high stress and high expectations has appealed to me recently. Sorry a bit off topic Funny, that's what I had for dinner last night...but here in Vancouver. Some focaccia bread, some good olive oil and balsamic vinegar, some brie & blue cheese, and a glass of a nice Gwertztraminer...while watching Shark Tank! ;D Cheers!

Portfolio manager, Michael Steinberg, is the latest Cohen crony to be charged by the government. Cheers! http://money.cnn.com/2013/03/29/investing/sac-capital-trader-arrested/index.html?source=cnn_bin

Appears to have shrunk quite significantly since last year. Assets, liabilities, equity down significantly. This should be reversed with results of Escape in this quarter. Certainly cheap. About 40 cents of net assets, mostly cash like assets selling for 16 cents. Risky, with decent chance of RNK being a value trap or mistake unless they can turn profits from projects they have committed to. Is this a good business? I want to say no. High risk high reward is my impression. Then why are the major shareholders willing to put more money in and commit themselves to several new movie projects. I am thinking that it is to use up tax credits. Disclosure: I have a very small amount purchased at 20 cents. Investment thesis has changed since I bought ie purchase fell thru. I bought initially with the thought that there great people, decent investors taking over, selling at a significant discount. Actually a graham net net. Crappy business that has lost a lot money but that perhaps mckelvin, Chou, etc would get into other more profitable ventures. Feels like my experience at sears with lambert trying to turn around crappy retailer. Looks like a 2 legged stool, and I am afraid I am going to fall off. There is still value there but more risk. Very illiquid and unless you buy the debenture you will be diluted significantly. What do you do? What are others thinking? What do you do when your original investment thesis changes. Are you not suppose to sell? There's no point to add a third leg to a stool, as long as one of the other two are still loose! ;D This is a tough business (which business is easy, right), but they have to stabilize it first to monetize all of the NOL's and tax credits. Otherwise the value proposition isn't nearly as good. If they can get the animation business going consistently, then they can add that third leg...which is what I'm betting on, and I'm willing to help them in any way I can to get it there, because it is unlikely I'll ever own so much of a business that Tim, Francis and Jeff own. You start to generate cash from the animation business and its assets, you can always funnel it to other ideas. But if the animation business doesn't work, then there are no assets to put into anything else. Cheers!

1st quarter is not out. That is year-end. We helped Rainmaker find the new CFO, Shawn Turkington. He's probably one of the most sound technical accountants Alnesh and I know of. If you read the year-end annual report, you'll see disclosure has improved markedly. I'm sure the quarterly reports will also be better. Cheers!

Don't know. 1st Q report has not come out yet. Cheers! Thanks seems the run is over. Hopefully Australia can do 1 to 2 million. Still making small amounts...I think it may creep to $65-70M in total...$56.3M so far worldwide. http://www.boxofficemojo.com/movies/?id=escapefromplanetearth.htm You then have DVD sales as well which will come. Cheers! I don't recall reading that back end included DVDs. were did you see that ? I don't know if it does or doesn't. But even if it doesn't, but sells pretty well in DVD's, then that hopefully means more business and notoriety for Rainmaker...even if they don't receive any direct compensation. Cheers!

Don't know. 1st Q report has not come out yet. Cheers! Thanks seems the run is over. Hopefully Australia can do 1 to 2 million. Still making small amounts...I think it may creep to $65-70M in total...$56.3M so far worldwide. http://www.boxofficemojo.com/movies/?id=escapefromplanetearth.htm You then have DVD sales as well which will come. Cheers!

Canada has their own currency unlike Cyprus. They can issue their currency as much as they want, recap the banks, keep them solvent and continue to insure deposits to $100K per account name. That $100K may be worth less, but the government can continue to print money and insure deposits. Cheers!

Don't know. 1st Q report has not come out yet. Cheers!

The guy has got tears in his eyes talking about how BAC is doing good in the community, helping people with their financial needs, reworking loans, etc. Then, he is supposed to be a tough BAC Phase 1 and 2 guy and sharpening the company through cost cutting??? Looks really odd to me. See, I don't understand this and alot of the 99 percenters/unions talk about business in such terms as well. Just because an executive has to make tough decisions to cut jobs, doesn't mean he cannot focus on taking care of his customer's needs and help them better their financial position. The cost-cutting and lay-offs were necessary to save the remaining 175,000 employee jobs. I do like the guy, but he needs to get his act together real quick before the board replaces him. Asking for a dividend increase 2 years ago to regulators and being turned down, while this time around he could have but, did not even ask... Institutions are likely not very happy and the stock price is still abysmal. You guys have to remember that very few bought at $5 to $7 as we did. Stock doubling in 2012 as Charlie Rose said is a joke. Alot of people bought Fairfax at $600 too, but I'm not sure their capital losses are Prem's fault. I don't think those investors that bought Bank of America at $20+ dollars six years ago are also Moynihan's problem. They should be asking Ken Lewis those questions. Investors cannot invest in markets within a vacuum. They not only have to have a working knowledge of investments, but the time and energy to do the research and buy on fundamentals. Otherwise they should be outsourcing their capital to good managers or buying index funds. By the way, I don't see $20 this year, but we will creep over $15! ;D Cheers!

Do all people or Irish descent look the same to you? ;) LOL! I thought he looked a little like Robin Williams as well. Cheers!

No such luck, but who knows! Cheers!

Could we somehow see a booth for Wind Mobile at the AGM next to a Blackberry booth, if this happens? Cheers! http://www.theglobeandmail.com/report-on-business/fairfax-mulls-bid-for-wind-mobile/article10545460/

Hi Scc, No, there is no limit, as Fairfax said they will just get a bigger bus! ;D We won't cancel it now...I've got at least 12 people so far. Cheers!

Not sure. Just know that it is William Ashley & Sporting Life. Cheers!

No. Cheers!

I always wait for Francis' annual report. It's short, but he puts things quite succinctly. While some of you ponder Fairfax's worries and their hedged portfolio, Francis lays out a better case of why people should worry a bit rather than Fairfax's more discreet commentary. Always a good read! Cheers! http://www.choufunds.com/pdf/AR12.pdf

He actually presented twice...once yesterday on investing and once today on his foundation, Dakshana. Pretty amazing how Dakshana has come together, and it never would have without the Pabrai Family, the team here and in India, the students working hard, Prem's five-year donation, and all of the other donors. He's going to change so many lives...not only in the present, but likely generations. Cheers! http://www.youtube.com/watch?v=ZGA8qj3opso&feature=youtu.be

LMFAO! Mohnish is going to bug me about this one! Versace meets hamburgers. Are they going to get a license to sell high end Tequila? This is like a crazy idea that Turtle from "Entourage" gets Mark Cuban to buy into! Cheers!