Parsad

No such thing. People love trying to find patterns, even if there are none. What seems like 17 year cycles are just each new generation forgetting what the lessons were from the previous generation. I think that's why I found a great deal of affinity with Buffett & Graham's rational, intellectual framework. It just makes complete sense. Cheers!

Some of the changes are likely due to more cash being handed over to Weschler & Combs. Cheers! http://blogs.wsj.com/deals/2012/08/14/sales-may-show-buffett-handing-off-to-combs-weschler/?mod=yahoo_hs

This is a long-term, expansive bet on India. We'll see alot more stuff being acquired by Fairbridge in the future. Cheers!

Thanks! Good interview. Cheers!

I wasn't out to lunch today or anything. Just had a mocha at the Hotel Georgia with Alnesh about half an hour ago...did the stock move? ;D Incidentally, as some of you may remember those days with Fairfax...the same people cheering are still the same people holding the stock today. And I would have held my Steak'n Shake too...if some fool didn't go and decide he wanted to change the name of the company and his compensation, simply because his ego was just too damn big for his own britches. We own a ton of BAC...I plan on holding it for the next 10 years! Cheers!

There may be a bear market coming and there may not be, but that article was a load of rubbish! No offense intended, but that was so difficult to read and actually view it with any rational sense. Cheers!

Article on "The Giving Pledge." Cheers! http://www.cnbc.com/id/48590809

Blackberry 10 OS soon to be ready for licensing. Cheers! http://www.bloomberg.com/news/2012-08-13/rim-says-blackberry-10-will-soon-be-ready-for-licensing.html

Carl Icahn is funding his son's investment fund with $3B. Cheers! http://www.bloomberg.com/news/2012-08-14/carl-icahn-hands-son-brett-3-billion-to-prove-his-mettle.html

Aren't the shares preferred? It won't help their capital ratios, but they aren't common. Also, while the $880M is immaterial to $200B, it does take $72B off their asset side. Shrink, shrink and get efficient. Cheers!

He's got about $500M in AUM, and Dataroma only shows $240M, so while he's more concentrated than in the recent past, it isn't as concentrated as Dataroma would have you believe. I'm glad he's gone back to more of the 10X10 structure...more volatile, but it will work better over the long-run. Cheers!

Sorry Wesco, I was just generalizing about the timeline. Cheers!

The back-end revenue is just a kicker. The value of the company is in the cash, note, tax credits and tax losses. Jeff Stacey owns about 9%. We own about 7%. That's over 60% in the hands of four very similar value managers. Name another company like that in Canada...in the U.S.? Four managers who would always put shareholders first. Cheers!

Ask yourselves, the remaining assets in the company...be it cash, the note, tax losses, tax credits or potential back-end revenue from "Escape From Planet Earth". Would they generate more shareholder value by being sold off, or in the hands of productive value managers. You guys have heard of Leucadia National, correct? Cheers!

Note that everyone thought (because Pandit said to expect it) that C was going to start returning capital. But it never went above 75% of TBV this year. So I still have hope that substantial buybacks will be possible. But as I said, I'm crossing my fingers because the banks never fail to disappoint me I think C didn't hit TBV because the Feds stopped them from buying back shares and increasing their dividend. That won't be a problem for BAC this year. But I agree with you, hopefully the stock stays below TBV into next year, so they can retire a good chunk of the shares. Cheers!

Don't think it will be disruptive, but rather ideas being adapted. You will get better technology, but since it is open source and not patented, everyone will adapt to it and apply it, including the existing for-profit companies. Cheers!

Really crossing my fingers for big buybacks. If they can keep selling assets around or above book value, and buying stock at 1/3 of book value, it's a big win. Problem is the stress tests. Because they can get approval for buybacks only once a year, they will not get approval till early January. If the market perceives that they will get approval, and there is no reason to believe they will not at this time, then the stock will move up before they can buy at such cheap prices. If it wasn't for the stress test approvals, they could already be buying stock based on how solid the balance sheet is now. That's why I still think they will be close to tangible book by Christmas. The market will see in the third quarter that BAC will be close to 9% (if not over) under Basel III, and share buybacks or dividends would be 99% certain. If the stock is at 70% of book or less, they should still buy back some shares, but probably not as much as if it was near or below tangible book. Cheers!

Chalk up another $2B in Tier 1 Common Capital! Also, they've barely made a dent in their real estate sale leasebacks...easily another $4-5B there. Cheers!

RIM rumoured to sell small assets like Newbay. Cheers! http://www.cnbc.com/id/48622230

Hey Glenn, Sorry, I was out of the office last week. I'll give you a call Monday. Cheers!

Those numbers are a little skewed as they don't include cash and foreign holdings. I would reduce those percentages by about 45%. So I wonder who he was crediting as the best CEO he owns outside of Buffett & Munger...Aubrey McClendon, Brian Moynihan? Personally, I would say it's Prem Watsa hands down as a leader, businessperson and investor...as well as the charm, charisma and humility of Buffett. Cheers!

They are on the hook, but there is a lot of hassle proving that you did not do anything to expose your personal information. It then also takes a week or two for them to return the funds to your account. Haven't experienced it myself, but a couple of people I know who had their cards fraudulently used said the experience was not fun...although they were both here in Canada. I would assume the protocol in the U.S. is not any different. Cheers!

Have no clue where these shares are coming from. That's pretty much 45% of the available float. If they have a profitable 3rd quarter, which looks very likely, the shorts are going to get the crap squeezed out of them, as the 4th quarter is usually profitable. An entire year of profits at Overstock would certainly kill alot of arguments around the business' viability. Cheers!

Maybe tomorrow Byrne will get to the business of running overstock. Have you checked the finanacials for the last two quarters? I bet they are profitable for all four quarters in 2012...and will finish the year with $20M+ in net profits. Cheers!

Will take some time to reduce loan losses, but at the moment, they continue to increase. Cheers! http://www.bloomberg.com/news/2012-08-10/bank-of-ireland-first-half-pretax-loss-more-than-doubles-1-.html?cmpid=yhoo