Parsad

Looks more like ~13.5 million to me. I've been looking at this investment up close over the past few weeks. Even if this is a bet on Lampert, hasn't Fairholme been invested in SHLD since 2008? What makes us think we're any closer to Lampert doing thing X which will generate a ton of value for shareholders than Fairholme thought in 2008 when it made its initial investment? It's undeniable that asset-wise, the company looks cheap. And it's awesome to be partnered with Lampert and Fairholme. But seriously, how much longer until thing X happens? And what is thing X (other than the most alarming question I have)? That's exactly my point too Nkp. There is undoubtedly value in the company. I'm a very big fan of Berkowitz's and I like Eddie. But they've been buying stock from $180 down and it's been pretty obvious they weren't moving quick enough to monetize assets and stem the bleeding. Every day that goes by, Sears loses another chink in the armour. Sears was everywhere in Vancouver 20 years ago. They were the dominant department store in Vancouver 10 years ago. They had downtown stores 4 years ago. Today, that footprint and brand is becoming extinct! They started closing stores in bulk in the last year and spinning off brands...a step in the right direction. But there was a lot of capital lost in the previous three years because they didn't want to take that step. In that time, the brand has suffered, competition is even stronger, and will it be enough. I don't know. It's very much like RIMM. Cheers!

The reason I don't typically do much online is that I can't stand short form analysis and snide comments (i.e. trolls). I hope this forum has none of that. Hi Kyle, You'll get the occasional snide comment during debate, but no trolls...don't worry about that. As for analysis, just check out the BAC thread in the "Investment Ideas" section. That should give you some idea how in depth boardmembers get into analysis. Also, many board members are fund managers, analysts, executives or investment industry-related, as well as we have some very knowledgeable private investors on here as well. Enjoy the forum! Cheers!

Entrenches him, and at the same time protects him if someone else decides to ever run a proxy against him or buy out the company. If he goes, he gets a nice fat royalty. Cheers!

Article on ECRI and Achuthan. http://www.theglobeandmail.com/globe-investor/inside-the-market/worlds-leading-authority-on-business-cycles-gets-recession-call-wrong/article7226133/ Like I said before, his call wasn't wrong...just too early. He'll be right at some point in the future. ;D Cheers!

The company plans on developing and building "Biglari Land", where this massive ego can grow unfettered, away from the criticisms of any rational and ethical shareholder. Geez, this guy! First he changes a perfectly good, historical name (The Steak'n Shake Company), to his own name. Then he wants to license it out to shareholders! My opinion, shareholders really need to tell him to go fuck himself! Cheers!

Hi Kyle, Welcome to the board! You'll get to know a lot of the regulars pretty quick. Cheers!

consistent goodness Those are the words I use each time I leave "Five Guys Burgers". ;D Cheers!

Why don't you guys just come to our AGM in Toronto, and then you can talk to our director Glen Rollins. He used to run Orkin for his family, and I'm sure he'll be able to answer some of your questions about the business. And yes, it is pristine, has a very good moat, and hardly ever pulls back to reasonable prices. Cheers!

Reeds has the same problems that Jones Soda also faces. Their price points are high and it's tough to compete with the giants. They are better off marketing their sodas to niche markets...Whole Foods, delis, bistros, etc. If they try and compete mainstream, then they are going to lose money. Cheers!

So much love for BAC on this board, but not much talk about the great results at WFC. Cheers! http://www.sec.gov/Archives/edgar/data/72971/000119312513010112/d450286dex991.htm

The music has stopped playing I guess! Cheers! http://finance.yahoo.com/news/sac-bracing-big-exodus-funds-071600406.html;_ylt=AirDCnTm_bbBnaZxIxjcPXyiuYdG;_ylu=X3oDMTRwb2NrNGdqBG1pdANGaW5hbmNlIEZQIFRvcCBTdG9yaWVzIG1peGVkIGxpc3QEcGtnAzllODI0ODhjLWY4MmMtMzZmMi04NjMyLWZlOWM4MDk1M2M5OARwb3MDNQRzZWMDTWVkaWFCTGlzdE1peGVkTFBDQVRlbXAEdmVyA2NjMWYwMjkzLTViZWMtMTFlMi1iNzk3LTdmODlkZWNkYWI5Zg--;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

He's a turkey. A mini version of the accidental billionaire...Paul Allen. Although, it may just be the fact that I didn't like him giving up on Nash years ago. Cheers!

Valuecfa, what is the name of that BTIG analyst? Cheers!

I'm really starting to get unnerved by some technology companies. It's bad enough that the government knows every little detail about our personal and financial lives now, but it's quite disturbing that Google Ads will change automatically to something I just did or searched for. For example, I just booked my hotel for Omaha, and automatically the Google Ads on here change to Hilton Doubletree ads. This happens almost every time I open a new window and search, or complete some sort of transaction. They have cookies on everything we do now on the internet. Even if you empty and delete your cookies, they are back tracking you the next time you open your browser. Very frightening in a way...to imagine these companies know so much about our daily movements and habits. There is little the government is doing to stop them, because it just makes it easier for the government to track us as well. Cheers!

Leucadia will tender Inmet Mining shares barring any other superior offer. Cheers! http://finance.yahoo.com/news/leucadia-national-corporation-indicates-current-201100668.html

Apparently the iPhone 5 has been a bomb. Lets see how they do this quarter. I thought that they've sold 27M of the iPhone 5's. Not a bomb. Very nice, fast phone. The size and lightness of the phone does not bother me at all, unlike what many other buyers have said. I think this is the best case design since the iPhone 3 came out. Much nicer than the iPhone 4 design. I wish the screen was a bit bigger, but at least the retina display makes it easier on my eyes when reading. There is definitely room for improvement with the iPhones though, as their competitors are in overdrive chasing them down. Cheers!

Hi Racemize, I gave a little of it back to you today. But don't worry, you'll get it all back tomorrow, when Wells Fargo reports record earnings...and alot more through next week as most banks continue to show huge improvement and earnings power. Cheers!

Haile Selassie Pavilion as in ex emperor/dictator of Ethiopia. Although Highly Celestial is a pretty close guess, kind of like the Springsteen Blinded by the Light lyrics, wrapped up like a douche. It's from Persia! I was agent orange, special agent orange, that was me. Great movie! Haha! Thanks Roger for clarifying that. All these years I thought it was "Highly Celestial". By the way, I only knew of the Manfred Mann's version of "Blinded By The Light" and had no idea The Boss sang it. And don't get me started on Iron Butterfly's "In-a-Gadda-Da-Vida" either. Cheers!

It's actually one of my Christmas movies..."It's a Wonderful Life", "Scrooge" w/Alistair Sim, "A Christmas Story" & "Trading Places". Those four I watch every year. Cheers!

Deal. Yes, one of my favorite all time movies. Eddie Murphy in his prime, a funny Dan Akyroyd, a young Jamie Lee Curtis, you can't go wrong. "Looking good, Billy Ray!" "Feeling good, Louis!" Yeah, those two comics were never better than in that movie. The social commentary in the writing, along with John Landis' direction, was great. Don Ameche and Ralph Bellamy were also fantastic as the Dukes. I still crack up every time I watch Eddie Murphy wearing a blazer in that Rittenhouse Square row house yelling "Who has been putting out their coals on my floor! WHO has been putting out their coals on my floor?!" Cheers!

For those that have no idea what I'm talking about...Dan Akroyd & Eddie Murphy: Cheers!

Shake. If you'd like to make it a more sporting bet, we could go for the Trading Places wager and make it $1. One of my favorite movies of all time..."Hey, Nengue Mboko, it's me...Lionel Joseph from the Highly Celestial Africa Pavillion, man! Lionel Joseph...maboole, maboole, maboole, heh, maboole, maboole, maboole, heh!" I know all of the lines by heart! ;D Yes, let's do the $1 bet. Cheers!

I'll take that bet. So just to set the terms and be specific, we are talking about $7B returned to common shareholders. For you to win it must be at least $3.5B in dividends on common stock and $3.5B in buybacks of the common shares. For our purposes, we will deem there to be no other security or interest of BAC outstanding. I will be happy to lose this bet. Hi Kraven, yes that is correct. At least $7B in return of capital through dividends and buybacks...a combination of both, as Moynihan has made it clear that they would like to see a third of earnings go to buybacks if the stock is at, or below, tangible book. If the stock is up, he may put more into dividends. So, $7B in capital return to shareholders in 2012 through dividends and buybacks. Shake? ;D Cheers!

Interesting little article on Berkshire's businesses and investments. Cheers! http://www.fool.com/investing/general/2013/01/09/berkshires-business-in-one-great-picture.aspx

Berkadia update: http://www.bloomberg.com/news/2013-01-09/berkshire-venture-buys-hendricks-in-buffett-apartment-bet.html?cmpid=yhoo Cheers!