Liberty

Thanks for that. It matches what I've seen on a few SA or GF articles on the company. It seems undervalued and has a nice dividend that will probably stick around for at least 1 year, and maybe even increase if europe's problems subside in the near future, but aside from that I haven't found what I've seen about the company to be impressive enough to pass the hurdle of being compared to my current favorite companies. Still, I like learning about this industry. It's an interesting one.

It definitely would! Nice to see them be at the cutting edge and looking for things that almost no one else is looking for. Low-risk thanks to the partnership with Cliffs, but potentially high-reward. Just how I like it. Thanks for posting!

I never looked at this one before. Will dig in a bit. Do you know what is causing the current negative sentiment about the stock? Is it just euro troubles or anything company-specific going on? The dividend seems to vary a lot from year to year. What makes you think it'll stay up?

I loved that speech when I saw it on the show. It's definitely very Buffett-esque... Or even Munger-esque.

http://en.wikipedia.org/wiki/Survivorship_bias

http://i.imgur.com/Tx8iF.png Are they referring to the NLRC refinery here? Seems like it, but if anyone can provide more context, I'd appreciate it.

Nice to see him all dressed up :) thanks for posting.

Inspiring! Thanks for sharing with us, Parsad.

Everybody here has the ability to look at who wrote a post and decide not to read it if they don't want to, or not to reply to it. Doing this requires very little discipline compared to the willpower required to invest money, so I think the people here should be able to manage it.

They must be certified as a specialty DP provider to sell to certain companies, but they don't have to be certified to still get some premium for high-alpha DP since rayon producers still prefer it to low alpha DP. But if they want to sell to a pharmaceutical company or whatever, they'll definitely need to be certified. That's how I understand it. I could be wrong.

http://www.newswire.ca/en/story/916767/kami-iron-ore-project-public-comments-invited-and-federal-funding-available

http://www.theglobeandmail.com/news/technology/mobile-technology/rims-enterprise-problem-halliburton-latest-to-switch-to-iphone/article2329313/ http://www.newyorker.com/talk/financial/2012/02/13/120213ta_talk_surowiecki

http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=107820 Don't forget that Thurso should be getting above spot because of it's very high alpha.

Thanks. Ackman is always interesting. I'll check it out as soon as I have some free time.

Indeed, this is something that Chad said at the CIBC conference. I'm paraphrasing: "This is a capital intensive business, and we like that. Well, we like it when it's someone else's capital." Meaning that the high capital costs are a barrier to entry for the industry. But since FTP tends to let others make the big capital investments and then buy the fruits of their labor for peanuts, it isn't as problematic for them.

Nice find. I've only skimmed part of it (no time tonight), but the thing I'll be looking for is if they mention the DP's purity anywhere.

No matter how great it turns out to be? I find that statement a bit weird. Like saying that Buffett should have stayed in the hedge fund business no matter how great Berkshire turned out. (of course, Buffett's transition was cleaner and clearer to his investors, which makes a difference) But I think it does matter how things turn out over a sufficiently long period of time. Short term, anything can happen, though.

Ha! ;D

It's great, worth buying for future reference.

That's incorrect. The dividend was already 4 cents: http://www.ebix.com/pressrelease_text.aspx?artid=208 And since they just acquired a health exchange, it doesn't seem like acquisition opportunities are slowing much: http://www.ebix.com/pressrelease_text.aspx?artid=218 They've said the dividend would be around 10% of FCF, so they must feel like they can do the acquisitions they need and buybacks with the remaining 90% (and if they really need more, they can easily raise debt since they have very little of it). I would have preferred no dividend and more buybacks, but a small one is fine, and the stock is going up so fast that soon buybacks might not be as attractive anyways.

I wonder though if you were to open a spa in New York or Los Angeles, how much would customers pay to bathe in a bathtub full of cash? I dunno. Cash is dirty. But maybe if it was brand new bills (supplied by Fortress Paper?)...

Thanks. I like the part about the Chinese 5-year plan including a shift of 2 million tons per year of fiber from cotton to rayon.

Could be good for FTP: http://www.winnipegfreepress.com/business/breakingnews/ottawa-may-extend-programs-to-help-transformation-of-forestry-industry-minister-138505529.html

Nice find. Too bad those bars in the graph aren't labelled. I wonder if Mercer's investor relations would tell us what that mill is if asked... http://www.mercerint.com/s/ContactUs.asp

I ended 2011 flat, but so far for 2012 I'm up about 15%. But I wasn't one of those who thought it was the end of the world. I've been deploying my cash pretty much as I got it since many companies I like have stayed quite below IV. I'm basically all in, and quite comfortable with what I own - I wouldn't mind if the stock market closed for 5 years.