2011 results down 2%,
The good
Bought Build america Bonds end of 2010 and early 2011( thank you Whitney on your call!!!)
Cash in Hussman total return.
The Bad
My equity funds, but in particular
Fairholme
2012 YTD up 9%
started buying warrants November 2011 in the following, Bac A, and BAC B, Citi A, Comerica, JPM, Hig and FFBW,also bought Citi and Bac stock, Bought closed end fund(JMT) Mortgage-back securities,
added to fairlome position
Biggest warrant position is in Citi A. Like to hear thoughts on why BAC B will out perform Citi A
Selling some of the BaBs