Parsad

What the hell is a "true" value investor? ;D You buy something when it is cheap and sell when it is dear. Where you buy on that range is a personal choice and something you have to be comfortable with. The main thing is that you recognize when things are overvalued and when they are undervalued. Does anyone here think that ten years down the road, anything you bought today would not have done significantly better than 10-year treasuries paying 2%? If not, you're a fool! You run risk either way...if you buy now, you could run the risk of being early...if you buy later, you could run the risk of missing the boat altogether. There were quite a few people who were buying early in 2008, and many who missed the rebound altogether in 2009 and 2010. Again, the only concern any value investor should have is am I getting value? Not trying to time the market either way, and not sitting on cash paying 2% for ten years. Cheers!

Are you sure about that? He's known for being incredibly anal and meticulous about design, function, promotion and ease of use. The iPhone's we see today probably won't be as versatile and functional without him, and it is almost certain there won't be the same cult following. At least with Berkshire, the businesses will continue to operate as they do today, since Buffett was not hands-on with the subsidiaries. But Jobs had his hand in everything. Cheers!

After a week of hype, Apple revealed the iPhone 4S...not the iPhone 5 as many expected. Still, other than a slight deflation in the stock price, people are still agog over the iPhone 4S. In my opinion, Steve Jobs may be the greatest showman since PT Barnum, and that is why over time, Apple will never be the same company after he is gone...not unlike Buffett and Berkshire. I really admire this guy. He's truly a great American business story, and there won't be many like him again. Cheers!

Buffett discussed the results of a few of his subsidiaries. Cheers! http://www.reuters.com/article/2011/10/04/us-berkshire-idUSTRE79357E20111004

Go for it Mark! I think you'll love it...it's a keepsake for any Fairfax shareholder. Cheers!

These guys are in the same league as purse snatchers and very high interest payday loans. Cheers!

Mohnish has put up for auction on Ebay a lunch with him, after he realized that people would actually pay to do so! ;D The proceeds will be going to his charitable foundation "Dakshana". Cheers! http://www.ebay.com/itm/Power-Lunch-Mohnish-Pabrai-/120788288051

VXO close to 50 again. This just seems plain capitulation to me. Maybe we get it for another few months but it is capitulation nonetheless. Who knows. But the more this happens, the more crappy hedge funds will disappear. It's all primarily a fear of what is happening in Europe than what is actually happening anywhere else, including the U.S. We are not ground zero! This is also not a mess of the U.S.' making, but one that Europe never took care of when the credit crisis occurred in 2008/2009. As difficult as it will be to get 17 heads of state to agree on something, they will make a concerted effort to rectify matters once push comes to shove and things get worse. Liquidity is already an issue there, and markets are swooning. The leveraged Europe TARP fund will become a reality after some more pain. Cheers!

By the way, we were buying! Cheers!

I think some people were busy doing research and buying, while some were simply "sighing" after looking at their portfolio value, and some may have started to give up. It will probably get busier on here after the markets close. Cheers!

Mohnish has put the autographed copy of "25 Years of Fairfax" on Ebay! There is no reserve price, as he wanted to let the free market work its magic and decide the price. The auction proceeds will go to his charitable foundation "Dakshana". Prem is totally supportive of the idea, as he is on the board of directors of Dakshana, and has committed one million dollars a year for the next five years. Cheers and make your bids! http://www.ebay.com/itm/ws/eBayISAPI.dll?ViewItem&item=120788235393&ssPageName=ADME:B:EF:US:1123

Mohnish has put the autographed copy of "25 Years of Fairfax" on Ebay! There is no reserve price, as he wanted to let the free market work its magic and decide the price. The auction proceeds will go to his charitable foundation "Dakshana". Prem is totally supportive of the idea, as he is on the board of directors of Dakshana, and has committed one million dollars a year for the next five years. Cheers and make your bids! http://www.ebay.com/itm/ws/eBayISAPI.dll?ViewItem&item=120788235393&ssPageName=ADME:B:EF:US:1123

Extensive article about the Koch brothers. Once again, Bloomberg shows they are head and shoulders above the reporting on CNBC. Cheers! http://www.bloomberg.com/news/2011-10-02/koch-brothers-flout-law-getting-richer-with-secret-iran-sales.html

I've been looking at various government and corporate bonds for the fund, and it is just crazy what is happening. Investors and institutions are just snapping up anything, even with little or no yield, and locking their money up for anywhere from 6 months to years! This is the complete opposite of what was happening in 2008 and 2009. You could load up on quality short-term or long-term bonds at huge discounts. The herd is going the wrong way and it is going to cost them dearly! We may not be far from Buffett's "harem" quote when equities were no longer liked by anyone for years to come. They may continue to tread sideways as their earnings continue to build for the next few years. Cheers!

They'll get eaten alive in BC. They'll have to contend with some 40 gangs here, with the big ones being the Hells Angel, Independent Soldiers, Red Scorpions and various offshoots that control the drug trade. These guys unfortunately, have no problem taking a gun and blowing someone's head off in public. If someone pulls a machete, these guys will just shoot him from ten feet away. Cheers!

Yup, I think you are right from what I can remember. Cheers!

The other thing they do is once they come up with an idea, they have everyone politely tear it apart and tell you why it's not a good idea. If it stands that test, they make an investment. The analysts do all the grunt work, but it's the investment committee (six people) that make the final decision. And that doesn't happen until there is some agreement for the big ideas. Smaller ideas, the principals are give a certain amount of capital, and they invest accordingly...as do the analysts, but way smaller. Big ideas like Dell, etc...the group of six has to come to some agreement. Cheers!

No, but it was an activist target, and he forced management to sell the company at a price (if I remember correctly) 80% higher than his average cost. Cheers!

I would not be surprised to see Sardar make a bid for it in bankruptcy court. He'll get it for a song now. Cheers!

You sent Justin Bieber!!!! Build that damn fence!! Actually wait until he goes back north and then build it high enough so he can't climb back And don't forget Celine Dion! But don't blame us for terrorism...we just have bad taste! ;D Cheers!

Hi Kilt, Google+ and "+1" are two different things. Google+ is their social networking option and "+1" is just a new recommendation for websites, so Google can rank them better. You can't get out of the latter. It's part of Google's search results now, and website operators can add the "+1" all over the place so that people recommend something. Cheers!

That's quite amusing, since there still has been no terrorist event in the United States where the terrorist arrived via Canada. Even the idiot who planned on blowing up the space needle a few years ago was caught at the border. In fact, all the recent terrorist activity were homegrown in the U.S. or arrived via that bastion of morality and political correctness...Saudia Arabia! Some poor lady is going to get 10 lashes because she was caught driving there a couple of days ago. Talk about the U.S. speaking out the wrong arse! Cheers!

Actually a good, accurate article by Alice. I think her assumptions in this article are correct. Cheers! http://www.bloomberg.com/news/2011-09-29/buffett-put-gives-a-hint-of-what-s-coming-commentary-by-alice-schroeder.html

He reminds me of the guy parodied on Saturday Night Live all the time, who ran for Mayor of New York..."Because the rent is too damn high!" Cheers!

Damn funny! ;D Cheers!