Liberty

Another thing to consider: Part of Chad's thesis is that in the long-term, China's cotton yield will converge with the average yield in the rest of the world because China's won't be able to keep using so much pesticides and fertilizer because of social and environmental problems.

Interesting.

Not surprisingly, the workers at LSQ have voted in favor of the mill. It was a unanimous vote: http://lapresseaffaires.cyberpresse.ca/economie/energie-et-ressources/201204/29/01-4520088-lebel-sur-quevillon-fortress-paper-a-lappui-des-travailleurs.php

http://www.marketwatch.com/Story/story/print?guid=B555B586-5F1C-11E1-ADDC-002128040CF6

Kind of a hostile interviewer too. There seems to be an undercurrent of "how dare you, Mr. American, try to take over our Canadian railroad. It might not be well run or make money, but all that matters is the nationality of the people controlling it." (Don't get me wrong, I like tough interviews, but this one has a "I'm trying really hard to get you" feeling to it. Bill's too smart for that, though). http://www.theglobeandmail.com/report-on-business/video/video-pershing-squares-ackman-appears-on-bnn/article2415658/ http://www.theglobeandmail.com/report-on-business/video/video-pershing-squares-ackman-appears-on-bnn-part-2/article2415662/ http://www.theglobeandmail.com/report-on-business/video/video-pershing-squares-ackman-appears-on-bnn-part-3/article2415663/

If you liked this you can go straight to the source: http://www.amazon.com/Judgment-under-Uncertainty-Heuristics-Biases/dp/0521284147/ http://www.amazon.com/Heuristics-Biases-Psychology-Intuitive-Judgment/dp/0521796792/ http://www.amazon.com/Choices-Values-Frames-Daniel-Kahneman/dp/0521627494/

I'm curious to know what was said about EBIX. Unfortunately, I couldn't attend the event :'(

http://business.financialpost.com/2012/04/26/osfi-to-supervise-cmhc/

http://business.financialpost.com/2012/04/26/rim-turnaround-could-take-three-to-five-years-says-fairfax-ceo/

http://www.montrealgazette.com/business/Huge+mining+projects+works/6513364/story.html

http://www.theglobeandmail.com/globe-investor/investment-ideas/fairfaxs-watsa-says-stocks-not-bonds-likely-better-pick/article2414729/

Part 2: http://www.chrisstucchio.com/blog/2012/hft_apology2.html

This one is great:

Thanks, always interesting to hear what Bill has to say.

Wow, you and I have at least 2 things in common :) (though FTP isn't my biggest position)

A recent report on FTP mentions that about half of the planned DP capacity additions around the world have been postponed or cancelled (and they expect more to be cancelled or postponed), and that the recent DP cost of around 1.2k isn't high enough to allow most of these capital-intensive projects to go forward (they were announced when DP was above 2k). Good news for FTP, and shows the importance of being the low cost producer.

I think it's just that Mr. Market loves to test the resolve of value investors :D I bought a little bit more today. Wish I could back up the truck, but there are other things I'm working on.

To me, this doesn't seem to contradict Taubes theory.

http://www.pulpandpapercanada.com/news/the-man-behind-the-mill-andr-boucher-of-the-specialty-cellulose-division-of-tembec-inc/1000149916/ Old, but relevant to new hire.

Do you have a more reputable source than some guy on YouTube?

http://www.bloomberg.com/news/2012-04-23/facebook-reports-sales-growth-indicates-shares-valued-at-30-89.html

Nice to see that they keep adding to Markel Ventures. That company looks kind of like a play on the US economy picking up too.

Shouldn't that be a "Buffett" menu? ;)

http://www.bloomberg.com/news/2012-04-19/buffett-joined-by-12-families-pledging-most-wealth-to-charity.html

http://www.theglobeandmail.com/report-on-business/international-news/ackmans-pershing-reportedly-plans-4-billion-fund-ipo/article2407803/