Parsad

He's probably seen it, but he won't respond. You'll have to keep guessing! ;D Cheers!

Buffett has made at least one truly significant, irreversible decision that has haunted him for some time. He humbly and graciously tapped on the shoulder of some completely obscure, no-name analyst at Morgan Stanley, trusted her intimately, and then made her a millionaire several times over after she wrote a book on him and gained the type of notoriety she could only dream of. I'm sure she'll be sobbing madly the day Buffett dies, and then as certain as I am that the sun will rise tomorrow, she will write another book on Buffett that will sell millions, followed by tons of interviews, articles and paid speaking engagements...all on Buffett! I've really tuned her out now...along with Mary Buffett...Doug Kass...Jim Cramer...and Snookie! Cheers!

Article that discusses the only two bank stocks we own...WFC and BAC. Cheers! http://online.wsj.com/article/SB10001424052702303812904577293790642621590.html?ru=yahoo&mod=yahoo_hs

I just merged the "long" and "short" Overstock threads, so now you have just one thread...be it long or short. Cheers!

Some companies you do, some you don't in North America. Fairfax does not require it right now, but maybe when they are even bigger they will...just like Berkshire. Cheers!

Sure,... at least seems so, unless Sanjeev would have taken down the payment link to purchase tickets. Here's the link: http://cornerofberkshireandfairfax.ca/ You buy the tickets at www.cornerofberkshireandfairfax.ca (top of right hand column) at the PayPal link. Everyone that wants tickets, has done it this way. Hope this helps. Thanks Berkshire! Folks, We are about 90% sold now, so if you want tickets, you better get them soon. About a month left and I will probably be shutting it down the week before, because I need to finalize numbers for the Fairmont Royal York by then. Cheers!

Hi Steph, Yes, and I did receive your payment for two tickets, so you are good. Cheers!

Great chart! I didn't know Amazon bought Imdb.com. Cheers!

I still don't understand what durable competitive advantage the company has versus Amazon. Why can't Amazon compete in this space? Amazon doesn't have to compete...they could just buy them for $500M or less right now and it would be cheaper than building the business from scratch. Frankly, I don't know why Amazon just doesn't make an offer and take them out. Cheers!

Actually, go to the "traffic rank" and compare to Zappos.com over the last three months. They track almost identical. I think part of it is seasonal decrease in traffic. Do it for 6 months and max as well...they track closely. Cheers!

Way to go Lessthan! Thanks for screwing us over. ;D Cheers!

Saw this in today's WSJ (Wall Street Explores Landlord Business, A1-2): Buffett... said in an interview on CNBC last month that he would buy up "a couple hundred thousand" single-family homes if he could do so easily, given the high yields on rental investments. I've really enjoyed this discussion. Why doesn't Home Services of America open up a property management office in each real estate office? Buffett buys the properties and has his own company manage them...as well as for others. I'm sure there is plenty of demand for quality property managers who provide good service at a reasonable price. Should be no different than the real estate franchise business. Berkshire could become the largest property manager in the U.S., and is probably one of the few companies that can scale that across the country. Also creates more recurring income for Berkshire, and keeps another service business within the company in a related industry. Cheers!

It's simplified, but it does describe what I like about the model. Frankly, I've never understood why Overstock is even in the direct business. I've sent emails to them before wondering why they just don't stick to the fulfillment business, which has higher margins, no inventory and massive turnover. Yet, they still go with the direct business and they aren't particularly good on their inventory selection, cost or disposal. Cheers!

maybe you guys should get into short term trading! (j/k) Bsilly did join here, but the last time he was actually logged in was back in March 2010. Not sure if he reads as a guest still. Does anyone know if he still runs his fund? The interaction between him and Hempton was great back in the day on the old board. Cheers! Oh, if only. I was looking at my records. I first held the warrants at the beginning of September 2010, 1.5 years ago. That means I was probably looking at it even earlier. Same with WFC warrants, some of which I still hold from the first purchase. I started buying call options on BAC a year ago. LessthanIV - I too wonder what became of bsilly. I met him a few times in Toronto.

It's just the manic-depressive nature of the markets. You are just watching it in action. ECRI and Hussman are probably correct in their assessment, but missed the timing. The problem with forecasting is that you will be correct eventually...be it in a week or 70 years...the problem is the little gap in between! That's why investors should ignore the markets and focus on individual stocks only. After significant runs, start looking at obscure investments. We are back to hunting for unloved, small, distressed businesses...not companies you would find in the broader market. There were people screaming on here that a few of us were wrong, that the S&P500 was at historical highs on profit margins, that macroeconomic events were ominous, that the Fed was running a ponzi scheme...you name it. My argument was always I'm buying individual securities, not the market, so I don't give a rat's ass! But I always get more cautious when everyone else starts joining me...thus as the margin of safety diminishes relative to intrinsic value, I start pulling back. Cheers!

Doesn't this remind you guys so much of the old Fairfax days when it traded under $100...and then took off. We were all watching it like this then too. Cheers!

Investors always feel like that after a significant rally. We are in the fourth consecutive year of market gains in the U.S., so the odds are that things are significantly less cheap than they were in the past...even with better balance sheets and higher profits. We are building cash, as there is always a new opportunity around the corner. Patience is the hardest part of this game. Be patient and only buy when you feel something is truly cheap. And I would not be surprised if insider selling does increase significantly, if it hasn't already. Cheers!

Hi Hundredwaters, welcome to the board! One word of advice...if you are asking others for ideas, you are going to get burned again or be hesitant to invest. Best to check out the posts on an idea, read the quarterly and annual report for the company or investment you may be interested in, and then on things you have questions about...ask away. Anyone familiar with the investment will respond. Over time, if you do the legwork and trust your analysis, you'll always feel comfortable with a decision...and the opinions of others won't sway you either way. Cheers!

Apple is calling a conference call tomorrow to discuss its cash balance. Cheers! http://www.cnbc.com/id/46779100

I thought a "Bollinger band" was what Al Roker had surgically implanted so he could lose weight! ;D By the way, we have plenty of cash and I did not use technicals to figure it out. Cheers!

I disagree with this statement, you are making a ton of assumptions about what will or won't happen between now and expiration. Anything can happen and will there for IMO anytime you at the mercy of time you are introducing risk. I don't disagree with the overall BAC thesis, I own warrants, common, and 2014 $10 calls. But I would never say that the warrants aren't all that risky. I think you are correct on that. Mohnish says that the warrants have a 7-8 year life...whereas equity has a 100-year life. Anything is possible in that 7-8 years period...good or bad. Cheers! Guys... come on. I said "aren't all that risky" Do this mean: a) less risky than the common b) same risk as the common c) more risky than the common If your answer isn't "c", I'm throwing a shoe. What? b)...yes, I agree...thwap! Ouch! ;D Cheers!

I disagree with this statement, you are making a ton of assumptions about what will or won't happen between now and expiration. Anything can happen and will there for IMO anytime you at the mercy of time you are introducing risk. I don't disagree with the overall BAC thesis, I own warrants, common, and 2014 $10 calls. But I would never say that the warrants aren't all that risky. I think you are correct on that. Mohnish says that the warrants have a 7-8 year life...whereas equity has a 100-year life. Anything is possible in that 7-8 years period...good or bad. Cheers!

Article on Japan and its debt load. http://www.theglobeandmail.com/globe-investor/land-of-the-rising-sum-japans-toxic-mountain-of-debt/article2372141/ Unfortunately, the Japanese population's psychology to any investment other than Japanese bonds is preventing the repricing referred to in the article, but at some point, you will get an unwinding and it will not be pretty. I would guess that at some point Japan is going to go through a massive devaluation of their currency and the population will be hit hard by inflation. Cheers!

The U.S. government will be releasing confidential census data for the 1930's on April 2nd. Cheers! http://news.yahoo.com/census-documenting-great-depression-released-151755443.html

Al, I think you called it. $9.88 after hours -- I think we can round that up to $10. Where is it headed by next weekend? I said tangible book by Christmas, but you turkeys seem to be nailing the increases on the head. Ok Al, when do you think it will now hit tangible book...so say around $12.50? Eric? Cheers!