Parsad

Just crazy what Jobs created! A monster business and generating profits that no other corporation comes close to. Numbers are just nuts. Cheers!

Wow, I'm surprised there wasn't even a single offer! Although I thought the minimum bid was high. Cheers! http://blogs.wsj.com/deals/2012/04/23/no-one-bids-on-dinner-at-warren-buffetts-childhood-home/?mod=yahoo_hs

Another article speculating on who it is. Cheers! http://online.wsj.com/article/SB10001424052702304331204577355901445439744.html?ru=yahoo&mod=yahoo_hs

I hope the Sens take it. Will be tough though. Cheers!

It's busy both days, but if you come Saturday, you will miss out on the Friday evening festivities. Cheers!

BTW, I still think Caps will take it. I hope so! For the finals, I have Nashville and Philadelphia pegged. Cheers!

Yes, unfortunately my beloved Canucks are out! I think Lou needs a fresh start, and he's not going to get that here with Schneider becoming a star. I think Tampa needs a goalie and Lou's wife and her family live in Florida. Mason Raymond is gone. Vigneault is probably gone. Kesler was almost invisible for most of this series, and if it wasn't for the Sedins, Dan Hamhuis and the goalies, this would have been over in four straight. On top of that, those bastards in Boston are probably going to knock out Washington now too! Geez! Cheers!

Feel sorry for the investors that got burned, but kind of funny. They start young now don't they! Cheers! http://www.theglobeandmail.com/report-on-business/international-news/british-teen-twins-faked-robot-in-stock-fraud-us-sec-alleges/article2409298/

Jeff, thanks for the reply. My main point was that for anyone investing in BH...be careful! It's all or nothing with this guy. He goes in 100% with every idea, and one day it is going to backfire. The true reason behind the compensation package was because he would have had nothing if Steak'n Shake did go under. Everything would have been lost...Lion Fund, Western, all of it. Now he's taken debt out at Steak'n Shake, so that he can plunder Cracker Barrel. Either he becomes very, very rich...or we watch an implosion one day on some idea. And if that happens, left in the carnage will be all of his words and all of the other shareholders. There was no valid reason for the name change. There was no valid reason for the increased compensation package. There was no valid reason to take out debt at Steak'n Shake. And now there is no valid reason to remove the compensation cap. It's not about incentives and aligning interests...there is only one interest and he is running the company! Cheers!

If the company is earning a billion dollars a year (which, I have little doubt that it eventually will) to me, it seems reasonable that the guy would arguably deserve more than $10 million bucks. Also, as Sardar is forced to buy stock with his compensation and there are fewer shares outstanding, he will be bidding the price up for the remaining shareholders. Not exactly an intrinsic value thing, but, a nice plus for remaining shareholders. All things equal, if there was a single share remaining, under Biglari's compensation agreement, it would basically have unlimited worth, as he would have to buy it. Granted, at that point, they could reverse split out of it, but, it's an interesting thing to think about. Wow! Do you really believe that Jeff? The $10M cap is in place, but he said that will probably disappear. Do you think he's really going to continually buy stock above intrinsic value? You don't think that requirement could disappear as easily as the cap? The only reason he's buying any stock in BH is because he wants to make sure he controls as many votes as he can. Once he's got enough votes to permanently secure his position, and actually then justify the name he implemented, it's going to be to hell with all of you and any restrictions on his conduct. In response, you're going to tell me that it's ok, because you'd be out by then and would have made alot of money. But the truth is, any existing BH shareholder from now till that point, would have simply facilitated this whole unholy mess. I have no doubt Sardar will be a billionaire one day...but he's going to do it on the backs of corporate shareholders...and none of those shareholders will be worth a fraction of what he will. Frankly, I can't believe he actually said that the cap would eventually be removed. That's just nuts to even say it. Cheers!

By the way, when Sardar said that he would eventually remove the $10M cap at the AGM, did any of you guys ask why the $10M cap was instituted in the first place? There is no ethical answer for that is there? It was simply to get the votes to approve the compensation plan. How anyone can remain a shareholder after he said that is beyond me? Do you guys really put money that far ahead of ethics? Actually hearing this now makes my stomach turn. Cheers!

Wow, two articles on Prem and Fairfax today! From what I understand, expect a massive crowd this year for the AGM. The number I'm hearing is 900-1000 people...about double last year! I hope Roy Thomson Hall can fit that many. Cheers! http://www.dailyfinance.com/2012/04/20/is-this-company-the-next-berkshire-hathaway-/

Article on Prem and Fairfax. Cheers! http://www.streetauthority.com/international-investing/how-invest-warren-buffett-canada-459154

He doesn't need the shareholders anymore, as he controls more votes than anyone else. That was the master plan. Anyone who thinks that the intrinsic value of BH is anywhere near where it is trading right now is mistaken, because over time a greater and greater portion will go to him. You have to discount it by at least 30%! Cheers!

Hi 14Value, Please contact me directly at cornermarketcapital@gmail.com. We have no dinner tickets left, but we have presentation tickets available at $50 + tax. Cheers!

Shouldn't that be a "Buffett" menu? ;) I posted the menu, because everyone was always asking me "Watsa" on the "Buffett" menu? ;D Oh, that was just too much, huh? Cheers!

Hard to find CEO's who just dig right in, tear it apart, and rebuild. With rates so low, and spreads narrowing, banks have to cut expenses and get more efficient. He's just shrinking this sucker to a really ideal level...very focused. Using Well's cross-selling objective is also better for BAC, so I'm happy the mailings are out and retail contact is where everything is going to be happening. Cheers!

No real dress code. Some people come in suits and some people come in jeans and a t-shirt. I think you'd probably be most comfortable in business casual...especially with our new, more posh, environment! ;D Truth is, Fairfax wanted the event to remain pretty casual, true to its roots, and not too formal. Cheers!

Giggles... That's mean A_Hamilton! ;D Buffett_Groupie, check Expedia or other sites for hotels in Council Bluffs, Iowa. It is two minutes across the river from downtown and the Qwest Center (is it still called that?), and usually there are rooms there even a couple of weeks before the Berkshire weekend. I usually stay at either Harrah's or Ameristar, which are both very nice with lots of restaurants, and very close to the meeting. Cheers!

...Meanwhile, Jefferies is doing just fine. 8) That's hilarious! They should crack the whip on this guy...SEC and Jefferies should both go after him. Cheers!

Last chance to buy tickets! I will be removing the ticket purchase box at 5pm EST. You can still buy until then at www.cornerofberkshireandfairfax.ca...on the right hand side. Cheers!

1st Q report out: http://finance.yahoo.com/news/overstock-com-returns-1st-quarter-141104770.html Good progress on cost cutting. As I said before...absolutely no reason why this company cannot be profitable on an annual basis. Need to push fulfillment business, rather than direct business. With continued cost cutting, improved merchandising and marketing, revenues and profits should increase. Cheers!

They are just killing it from a balance sheet perspective. I think they will hit Basel III by the end of this year! No reason whatsoever this thing should be trading at anything less than tangible book. European exposure down to $9.8B! Cheers!

That CNBC list was garbage for the most part. The other list was modestly better. Every one of those trades could easily be usurped by one Buffett act that created more wealth than many of those trades combined...his hiring of Ajit Jain! But hands down, the greatest trade in the last fifty years was Bill Gates getting ownership of MS-DOS from IBM. Cheers!

Thanks Guys! I'll be in front or inside the "Imperial Room" from just before 5pm on. Just come by whenever you can. Norm, I know you probably won't get there until 6-6:30pm with the pre-dinner event, so could you do me the favor of being our journalistic scribe for the night? ;D Any notes you can take of the speakers, and especially the guests from Fairfax, would be enormously appreciated by everyone on here. Cheers!