Parsad

What the..? Is this word of mouth or public record? Public record...all over the place. Cheers! http://www.nypost.com/p/news/regional/item_UtBcMesvG54xzPnzzxoqVJ

If you exclude the impairment, then the quarter wasn't bad at all. Cheers!

I'm going to challenge him to a bike race! Cheers!

I hope Ackman was smart enough to collar his short position, because he's screwed on this one if he didn't. And if he blows up again, what do you think these guys will be doing...sitting in the Hamptons pouring Courvoisier into their Lalique glassware, toking up with Snoop-Dog, and eating Cheetos off of Wedgewood china while their hookers prance around calling them "Papi"! Cheers! Now I understand why you entered the business :) What! Didn't you know that's what happens with these guys? ;D That's what LessthanIV was referring to. The hooker that Spitzer got caught cheating with, used to stay with Chanos in the Hamptons and called him "Uncle". They used to be like Louis Winthorpe and his friend Todd from "Trading Places". Then came the "Gordon Gecko" type...who I believe was Stone's portrayal of Icahn. And now we have this motley crew with neighbours like JayZ and Puff Daddy, and their heroic or satirical portraits in Vanity Fair. Thank God Buffett lives in Omaha and Prem in Toronto! Cheers!

Sorry, at the end of that press release it says: The Icahn Parties have the right to increase the size of their ownership position in Herbalife up to 25% of the outstanding common stock. HLF shares remain halted, pending dissemination. So he's already been granted the right to buy up to 25% or nearly double his stake. Cheers!

I think he's in trouble if he didn't collar this thing when Loeb or Icahn got involved. With Icahn on the board now, nothing but a government investigation is going to hammer the stock. Icahn's going to get permission, or maybe he has already, to increase his stake and it will be granted. This is a personal vendetta now for Icahn, and being the bully that he is, he's going to make Ackman pay through the nose. It may not kill Ackman, but he's going to get hurt financially on this one. Cheers!

I hope Ackman was smart enough to collar his short position, because he's screwed on this one if he didn't. And if he blows up again, what do you think these guys will be doing...sitting in the Hamptons pouring Courvoisier into their Lalique glassware, toking up with Snoop-Dog, and eating Cheetos off of Wedgewood china while their hookers prance around calling them "Papi"! Cheers!

Have any Canadian boardmembers received their Crimson shares in their Canadian brokerage accounts yet? We still have not gotten ours at RBC Dominion. Cheers!

Both Sam Mitchell and Jonathan Johnson will be in Toronto, and both will be at our dinner, so someone can ask them this question. So far, the changes they have made in the last year have been great, so this may be continued improvement...we don't know. Cheers!

Buffett_Groupie, maybe if you are running late, when you come in, Prem will buy your company from you. Better think of a price! ;D Cheers!

They sure went out of their way to make the whole piece a big ad hominem on Ackman that covers very little else. They are all dicks! I think all of the guys mentioned are completely out of touch with humanity...Ackman, Loeb, Ichan, Hempton...I don't know Adrangi. These guys have egos up the wazu, and they aren't any different than they probably were in high school, except they've got their degrees now, enormous wealth, and for some God-foresaken reason they all live or have homes in the Hamptons. Are the Hampton's douche-central now? Cheers!

Maybe they are held up in customs :) Californian wine company, so they want to put duty on the shares. No way Canadian's are getting a discount on anything California-related! ;D Cheers!

Got them at UBS. Still nothing at RBC Dominion, yet. Cheers!

Hey Buffett_Groupie, I know you can afford parking! You just show up. Cheers!

I don't think 200-300% either, but I think it is feasible to see 100-150% based on the values assigned to the Permian sale. Obviously those values won't happen at this point with the prices that CHK let property go for, but as long as SD is in no need of liquidity, they can wait till valuations are better. Cheers!

It will be very interesting in Toronto this year. I think for those attending, you could get some hear very good Q&A, both at the AGM and our dinner. With RIMM, SD, FBK, OSTK, end of the lawsuit, all the cash and market highs, lots to talk about with Prem! Cheers!

Prasad, due to the recently CHK's Missisipian sale, I don't think TPG's original plan to sell SD for $10-12 a share would work anymore. However I still think the board should be removed. Suppose the consent fails, TPG can always do another round of consent with more nominees who has oil and gas experience, right? I see current nominees have minimum oil and gas experience because TPG wants to sell the company, but I think that is a fixable issue if TPG decides to develop the company for the longer term. What do you think? There is no reason to sell SD if the pricing is not good due to the CHK sale. With the $2.6B in cash, and a reduction in capital expenditures, they can remain profitable for years with a solid balance sheet. CHK needs the money...SD does not. With prudent management, be it TPG or the right guidance with Ward still under control, there is no reason why this cannot be a profitable business. They have good assets, good cash flows, and now a pretty solid balance sheet with maturities not due for a few years. They also have a shareholder with very deep pockets if the need ever arrived. Cheers!

Sandridge closes $2.6B Permian sale, and is retiring over $1.1B in debt. Love it! Cheers! http://finance.yahoo.com/news/sandridge-energy-inc-closes-sale-210500000.html

Which brokerage are you using? Mine showed up in schwab, fidelity and etrade today. Mine have not shown up yet at UBS and RBC Dominion. Probably tomorrow. Cheers!

Maybe they should sue Einhorn for screaming "fire" in a packed room! Cheers!

We're still small...$6M now. We usually build up the position over a week, and it just keeps increasing as prices fall...we love it when prices fall! We don't add unless the price falls below the last previous buy, and it's a judgement call based on my instincts. Some things are very undervalued, so we go in very hard each buy...like BAC or DELL was. Some things are undervalued, but don't keep falling to distressed levels...like AAPL...so not as hard and we are very patient. A full position is 12-15%, and if it is really, really cheap with a decent margin, we go to 25% of the fund. Nothing in the fund is anywhere near 25% right now, but we have two positions between 12-15%. We are still about 33% cash. Cheers!

Book is now at $27.60 or so, and they are quite liquid. Cheers!

Of course it's only because they are releasing loan loss provisions. Because of course when profits are punished due to increased provisioning that's the way it should be. Correct. Remember, they've had spreads tighten on them as well with lower rates, so everything comes around...good and bad. They also have the highest capitalization ratios in decades, so they will be in much better shape to handle changes in the economic cycle. Cheers!

I can't see anything but good news for the banks after the stress tests. I think WFC will increase its dividend again and buy back even more shares. I think BAC will issue at least $7B in dividends and buybacks, while still maintaining the highest Tier 1 Common Equity under Basel III. U.S. Banks will have another record year in 2013. WFC will go over $40 this year, and BAC will go over $15. Cheers!

According to the FDIC, 2nd best year ever for U.S. banks. Cheers! http://www.bloomberg.com/news/2013-02-26/u-s-banks-report-second-best-earnings-ever-in-2012-fdic-says.html?cmpid=yhoo