Liberty

For what it's worth: http://www.bloomberg.com/news/2013-03-08/gross-raises-u-s-economic-growth-forecast-to-3-in-2013.html Bill Gross Raises U.S. Economic Growth Forecast to 3% in 2013

Thanks! :)

Slightly off-topic, but I really like the way you write. Keep it up! :)

http://www.bloomberg.com/news/2013-03-08/fed-sees-goldman-jpmorgan-overvaluing-capital-strength.html Fed Sees Goldman, JPMorgan Overvaluing Capital Strength

This begs the question though, if it's so obvious, why aren't most people here doing something like that?

Probably mid-high teens maybe? Low 20s? Thanks, that's interesting. The leverage is actually making a bigger difference than I expected; I thought that the heavy concentration into your very best ideas was in itself a bigger part of the return. Though I suppose that it still is, just in a different way: You need to be extremely confident to lever things up, and you probably can't get to that point with a diversified portfolio. Did you start out investing like that, passing on anything that wasn't sure enough and then going very concentrated and levered? Or did you start with a more conventional approach to investing and over time you evolved that style because it suits your strenghts?

Nolan Watson on BNN: http://watch.bnn.ca/pdac-2013/clip878845#clip878845

Since this thread has turned into a Q&A with Eric (which I really appreciate, btw! :) ), here's my question for Eric: What would you estimate your record would have been without the use of leverage?

MidAmerican has made huge investments in solar and wind power.

+28,107.42 :P

I used Google's Image Search, of course (I did it a few days ago because I was curious). Who just randomly happens to know what the real Arnold Rothstein looks like :) But I expect that this is based on someone (can't remember whom) calling him Eric Rothstein a few months back when he was saying that he's going all in on BAC, and then linking that great Boardwalk Empire speech by the fictional AR.

Arnold Rothstein.

Same here. Oh well, patience is a virtue...

Round 2 from Gotham: http://seekingalpha.com/article/1255141-ebix-all-distraction-no-clarity

A lot of what Buffett has been talking about for years.

My father mentioned something about the DOW reaching new highs, but that's about it. Nobody in my circles interested in stocks.

Great book on Chuck Feeney, I highly recommend it: http://www.amazon.com/The-Billionaire-Who-Wasnt-Fortune/dp/B001E95J70/

A big part of the luxury car market psychology is centered around exclusivity (same thing with expensive watches or crazy house prices in certain neighborhoods). It's easier to have that with products that have costs out of reach of the masses -- the point of paying a lot is that you're paying a lot, and other people know that. Apple has some of that going on, but it has been going down steadily since 2007, IMO.

Very nice, thanks!

Found this randomly, so don't have much info on context, but it's Warren doing what he does best: http://www.youtube.com/watch?v=N9Ny6pjCS-8

Sounds like a very sane approach, Parsad. Refreshing!

Ha! Thought by that reasoning if KO starts running into trouble, DVA could start doing worse too :)

http://brooklyninvestor.blogspot.ca/2013/02/jpm-investor-day-2013.html

They're complaining about market-set prices. If people are bidding keywords up, it's because they're still making a profit at those prices.

I'm sure many of you have read the recent books about AIG. Which would you say is the best? If you had to rank those you've read? I've currently got these on my list but I'm not sure where to start: Fallen Giant Fatal Risk The AIG Story Thanks!