Parsad

You guys and the media are reading way too much into this. He sold for redemptions...simple. There are investors that are tired of waiting and wanted out. It doesn't change anything...whether you are long or short. Cheers!

Do you have more details on the effort / where one can give money? Been given non-profit status. Basic structure is set up. Mohnish will have more details shortly available for Canadian donors. Cheers!

Well, I've got two that I support personally and through Corner Market Capital: - The Crohn's & Colitis Foundation of Canada - We've raised nearly $50,000 to date through our annual Fairfax Financial Shareholder's Dinners, and I've been part of the team helping with our BC Gala that raised almost $100,000, as well as we had a little assist in getting Mark Ram (formerly of Northbridge) onto the board of the CCFC. Not to mention the annual June 9th Gutsy Walk that is across Canada! - Dakshana - Mohnish's foundation does amazing work prepping gifted, but underprivileged and less fortunate Indian children preparing for the Indian Institute of Technology (IIT's) entrance exams. Extraordinary high success rates that will undoubtedly change not just the lives of those that get into the IIT's and other highly recognized schools, but many others in the student's immediate family, neighbourhood and in some cases, entire villages. Dakshana Canada just launched, and Tim McElvaine, Francis Chou and myself are on the board, alongside Mohnish and his wife Harina. So Canadian donors get tax receipts going forward! Prem also has committed $1M a year for five years to Dakshana. - I also raise food and toys for our local toy bank and food bank that assists lower income families that just need a little help to get them through the Christmas season. There's bound to be a similar local non-profit doing the same thing in virtually every city and town. Cheers!

Redemptions at ESL. Cheers!

Well, I think Mike is probably one of the most creative guys I know when it comes to getting a deal done. But if your business is not profitable or not creating value relative to the dilution for acquisitions, then you are going backwards. We have not seen any substantial increase in net positive cash flows, no improvement in the balance sheet other than from all the cash brought in through share issues, and quarterly losses remain huge! We sold all of our stock earlier in the year once they got out of the asset management business, so that sucks for us since the market thinks things are improving and the stock is much higher. It looks like they are aiming to grow their way to profitability and I'm not a fan of that type of thought process. All the capex and risk in the businesses they own and are acquiring...why would anyone leave a business like asset management where there is no capex and little risk? Just a mish-mash of businesses now with no real improvement in the bottom line. Cheers!

Mike's well-connected and is very busy, but the only thing that matters long-term is creation of value relative to the amount of dilution happening. Last I checked, this was still not happening if you looked at the bottom line. I hope it happens at some point for shareholders, because busy for the sake of being busy, isn't usually the way to go. All these acquisitions, but is it actually generating positive cash flow? Are they going to be profitable at some point? Cheers!

Got your purchase Gio. Really, you are bringing her! Wonderful! Cheers!

Well, I suppose every company has to be good at something. lol. LOL! That was a good one. Cheers! Yeah, even better if you own it. Nice moat that not many can copy. LOL How can they not copy it? Can't someone just plop down $500M and build a plant after getting regulatory approval? Cheers!

Cardboard, no reason why you can't do both. Help those that you can now, while whatever is left at the end that your family can't consume can go to help others as well. That's what I'm trying to do...I can compound capital quite well, but I have this urge and desire to help those that I can now as well...be it with a cup of coffee or referral for a job, toys for the toy bank or food for the food bank, sitting on a board of a non-profit or being an angel investor for a great entrepreneur...you CAN do it all, as well as leave a fortune at the end. I might not live as long as Buffett or I might get hit by a bus tomorrow...so how can I just sit on a pile of capital and not do anything now! Cheers!

Well, I suppose every company has to be good at something. lol. LOL! That was a good one. Cheers!

He may not have felt entitled that way. Perhaps he felt like Buffett, that he was wired a certain way that gave him an advantage, and that he was just a steward of the capital...not the entitled. Personally, I can relate to him quite well and can understand why he did the things he did...the frugality, using public transportation, hiding the wealth, not spending extravagantly, and then donating the bulk of it. You come into this world alone and with nothing, and you go out the same way. The man understood that! Cheers!

Seriously? You'd admire him more if he'd spent it on himself instead of saving and growing it for charity? It also says that he visited the hospital regularly, visiting and listening to the patients. Palantir, who do you admire, the Kardashians and Kanye West! ;D Cheers!

Also Happy Hanukkah, as it falls on the same day...or Happy Thanksgivikkah to those that celebrate both events! ;D Cheers!

It's the closest thing I could find to Buffett looking like he was eating a Thanksgiving dinner! Plus I didn't want to offend the vegans and vegetarians on the board...you know who you are...by putting a picture of a cooked turkey dinner on here. ;D Cheers!

Geez! Just 3 months after they wrote that article. Cheers!

To our many U.S. boardmembers, have a safe and happy Thanksgiving! Cheers!

On Oct, 21st Imperial lowered the target price from $5 to $1, now one month later the price target is back at $5. In the same time the stock is up 43%. Because they are idiots! ;D Cheers!

Bruce, err Loki, was the only reason to watch that movie. I was falling asleep every time Tom Hiddleston wasn't on the screen. Cheers!

Nice job Packer and Norm! Cheers

Maybe he never sells? Anyone know the details? Regardless, you'd expect someone, somewhere, to achieve this. You get enough people flipping coins, someone's bound to come up heads 100 times in a row. Vito is no luck of the draw type. In the last 13 years, he's only been fully invested at one time...the bottom of February 2009! Those results you see were done with significant amounts of cash. His fund isn't for the person looking for the highest absolute results. It's for the senior who has lost a bundle in mutual funds, index funds and underperforming hedge funds...the guy who doesn't need 15% annualized, but needs 7-10% annualized year in, year out, with no permanent loss of capital. Vito understands Buffett's rule probably better than almost any other investment manager out there...don't lose money! Everyone is out there to make the big, quick score...highest absolute results with little in the way of managing permanent capital loss risk. You look at a guy like Chad Wasenlikoff at Fortress. Smart guy, swung big, had huge success...then you see what that permanent loss of capital does when risk isn't managed properly and you overleverage or swing maybe too big on the wrong pitch. You've seen these things over and over, yet people only cheer for the guy getting 18-20% annualized...until they burn...think Bill Miller...or possibly it looks like Sprott might be next. In those terms, Vito offers something very few do...steady gains with near zero loss of capital on any idea. In his own way, that's extraordinary! Cheers!

While the long-term annualized results may not be quite as impressive as some other hedge fund managers, you have to be quite amazed by someone who has not had a single down year. If you are a widow or orphan, investing with Vito may be a much better alternative to anything out there. Cheers!

I don't think Vito would try and do anything unethical. Probably putting both numbers would be better, but I think he's just trying to show the value they are adding on top of the respective index. Cheers!

I have a terrific all-in-one HP desktop for my home office, and I love it. Nice to have that big screen for reading late into the wee hours. I also have a very light laptop for work between my home office and work office, as well as when travelling. But I'm thinking of switching to a Surface tablet...almost bought one today on The Home Shopping Channel, but then decided not to buy until Boxing Day. While my laptop is small (13"), it is still much more cumbersome on the plane or commuter train than a simple 10" tablet. In terms of Apple or Microsoft, I love my iPhone, but for business I'm not happy with Apple or Google Docs. Microsoft still has a huge advantage with Office, but the problem is now IE which seems to run slower and have more problems than Chrome, Firefox or Safari. I often have sites that don't load properly or slowly on IE, but run smooth and fast on Chrome or Safari. If you do decide to go the tablet way, you have to find one that has enough connections to work properly as a laptop...such as USB ports, Powerpoint/Video port, etc. As well as enough memory, storage and processor speed to work effectively as a laptop. I'm going to go and try a few out this weekend at Best Buy. Cheers!

I've actually asked them that. I'll let you know what they say. Anyone familiar with TSX rules on such tenders? Could this be the reason? A tender isn't going to fix things. It will only overleverage an already overleveraged business. Fortress has to show that they have the ability to pay the debt due in 2016 regardless of DP prices. So stemming their cash burn rate or refinancing that debt would help more than a buyback. Buybacks are only good if the institution survives and can finance itself to see it through to the buyback's end result...otherwise you just burn through cash that would be used to pay the debt. Cheers!

LOL! Thanks for the analysis Alertmeipp. Cheers!