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Mr. Market The Bucking Bronco


Parsad

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Think we saw the BAC bottom today. Really!

Not according to the match throwers at zero hedge but I hope your right. I purchased some JAN  2013 calls today. I put a lot of dough to work I bought BAC TOL thru leaps  bought HSE-T bought CM-T. The mkt is  about as oversold as I have seen it in 30 years this is an institutional panic(they almost always are) I ended up just buying ETF's to put dough to work. There is so much liquidity

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regarding the wish list, i would be really interested in FFH however, FFH has hardly blinked while everyone else is crumbling, you reckon we can get FFH below $350 before this drama is over?

 

Perhaps, but they are better hedged than anyone else.  I think there is enough notoriety around Prem and Fairfax now, where you would get people stepping in to buy. 

 

The people selling right now are the ones that need liquidity or are trying to buy something else, so they need to sell solid investments like Fairfax that aren't going to move too much.  Once that pressure subsides, the stock will probably rebound a bit, since Fairfax has probably been putting some money to work.

 

It will be interesting to see if Prem gets involved in some liquidity deals right now, kind of like they did in 2008/2009.  They got rates as good or better than Buffett and Berkshire back then, and they are very, very liquid with everyone piling into treasuries.  Cheers!

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Did any one see that 400 point swung in the DOW a few minutes ago why do I feel that someone just stole a whole bunch of dough and why do we put up with it.

 

I always picture Mr. Market as Graham describes him as a scholarly fellow who is a nervous kind of guy.  Perhaps small, with glasses, you can picture him in the library reading up on some topic and shushing people.  Today's Mr. Market has been transformed like pre-1998 Barry Bonds and post-1998 Barry Bonds into some raging maniac fueled by steroids.  But he still likes to read on occasion when he's in his down cycle and not so manic.

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And here we go again..the market just dropped about 200 points on the Dow in about the last 2-3 minutes. Crazy. No way this is not almost all computer driven.

 

Eta: another swing of about 200 points in the last minute.

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I think you're going to see ALOT of activity to reap whatever short term profits are there.

 

Its getting obvious things are not too rosy but some still have the need to make sure term $. With the sence of getting absolutely creamed still in the minds we can most likely see alot of intraday swings like this going forward.

 

This is not your daddys stock market.

 

 

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9,4% up for BRK. my portfolio up more than 8% today. I am not complaining. (Should I tell Harrylong?  ???)

 

Funny thing is last night my broker called because I put in a sell order for FFH before market close to buy more BRK. For some reason my order didn't come through and got cancelled. So I wrote an angry e-mail. This morning my broker called me and was willing to sell FFH at 373,5 cad$ and buy BRK.B at $77,4 I accepted seeing the very green futures at the time (2,8% for the us back then, although we went -1% later).

 

I think I will buy back my FFH's soon at this speed. I will probably even buy back more because this rise in stocks scares me as much as the drops. ::)

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