Hoodlum
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Posts posted by Hoodlum
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Underwriter shares are now selling at $687.50 with all remaining shares expected to be sold last night. But it looks like they still made some money on the deal.
After equity markets closed on Monday, bankers cut the offer price on the portion of a recent $735-million financing deal that did not entirely sell out to $687.50 a share. That is about 6.5 per cent below the original price of $735 a share, which was unveiled on Feb. 24.
Fairfax shares closed at $700.40 on Monday, about 1.8 per cent above the revised offer price. Underwriters were expected to aim to clear out any remaining shares overnight Monday.
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That makes sense and was likely planned for a few months. I doubt it has anything to do with the current price.
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I can tell you that the CMHC is allowing purchasers to use overseas accounts as collateral for mortgages. There is no method for the CMHC to ensure that these account don't have any other leans against them or if the cash would be accessible when required. This is likely one of many holes in our existing system and when the market does turn we will start to see what was really happening.
In my area, new homes are going for 20% more than existing resales and many of these new homes won't get built until 2017. Home owners are hoping that the market continues this upward trajectory between now and when the new house closes. When the market does turn and house prices drop we will see a lot of home owners in trouble as they won't be able to take on the additional mortgage. Foreign buyers may just get up and leave rather than deal with the huge losses.
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I picked a good time to do business travel to Fremont this week and LA next week. Haven't really needed my jacket.
Fremont? Please tell me you're visiting the Tesla plant.
That would be cool. ;D
No, but I can see it from my room in the Marriott.
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I picked a good time to do business travel to Fremont this week and LA next week. Haven't really needed my jacket.
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When I walked out of my local Tim Hortons last night, there were 2 men discussing taking out $100k on their home line of credit to invest in the stock market. I think we are getting close to the end now.
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I don't short, but those looking at Canadian RE should probably have a look at this:
It will be interesting to see if the government sues the banks to get back losses if the market does tank. I don't think the banks will get off scott free, especially with the bundling of mortgages they sold at high profits.
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No tapering for a while according to Bernanke.
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The biggest problem with cutting cable is live sports in HD. I'd gladly pay $15/month for sports and switch for the other channels.
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I think this is the wrong way to enforce higher rates. You just end up pushing it underground.
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Over 50% in my registered account. Tough to calculate on my margin and TFSA account but would be much greater due to MSFT Calls earlier this year. I would estimate over 70%. Average of 30% over past 5 years.
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Our company has been using LTO tapes for years now and have no plan on getting rid of it. But LTO tape capacity and speed seem to be maxing out now so there will need to be a new technology advance soon. For consumers an external hard drive is a good method for backups.
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Six months ago our company started using SSDs for all new laptop and desktop computers. Most company computers don't need large hard drives and the 128GB SSD is all that is needed in most cases. Our SAN is still using hard drives as we await for better industry standards on supporting SSDs in SANs.
If the SSDs keep dropping in price like the past 2 years then the future is not bright for Seageate and WD. I'd say that within 24 months most laptops will come standard with an SSD instead of a hard drive as the benefits are even greater with a probable device. Our company is in the process of replacing the slow 5400rpm hard drives in most existing company laptops to SSDs, giving better battery life and an incredible performance boost.
Two months ago I bought a new PC for home and went with just SSD. I am still using an external hard drive for backup and storage, but still fewer hard drives than I was using on my old system. Hard Drives are not going away but I believe demand will start shrinking over the next 2 years.
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Interesting that they have 33% in cash as they feel equity is overpriced right now. This position is much different than their hedges which was to protect from volatility.
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Up 26% YTD in my registered account. Margin account should be even greater due to Microsoft puts earlier this year.
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I lightened my BAC exposure today as it was becoming a large portion of my portfolio and I am still concerned about short term macro issues (especially Europe). I have lots of cash waiting for the next opportunity.
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This is the first in a 4 part series by Wynn Quon on Bubbles. The 2nd part is in the current issue of the Canadian MoneySaver magazine.
http://www.legadoassociates.com/lessons1.htm
"In those days you could buy stock with only 5% down. (After the Great Depression, they changed the rules. The only thing you can buy nowadays with 5% down is real estate and who’d be crazy enough to do that?)."
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This reminds me of when people said businesses would switch to Linux to save money. Microsoft is even more entrenched now with businesses.
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Very disappointed in the Macbook Pro retina, considering the market they are going after. Just don't expect to replace or upgrade components on your own as the memory is soldered to the board, battery is glued down (on top of trackpad wiring actually), retina display is fused, etc.. This may seen "normal" for Macbook Pros but not from the PC notebook side. Basically you are tied to Apple service for any repair or upgrade, hoping they don't mess with your hard drive. Great for Apple but not so great for the consumer.
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I bought more BAC today and it is my main holding. Cash is down to 75% now.
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I went to 90% cash a couple of days ago. I also bought some CRM puts. The market will get nasty by the end of the year due to more Europe debt issues and I decided to lock in my gains and wait. Only have BAC for now.
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Book dropped $10 to $354/share. It'll be interesting to see how the shares respond tomorrow.
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My guess is they're going to have a hard time getting businesses to upgrade to Windows 8 from Windows 7.
Businesses will just continue using the Classic interface so Metro is a non-issue. The biggest enhancement for Windows 8 and the Server 8 is related to the integration of Hyper-V's virtual environment. On the server side our company has already reached some of the limits of Windows 2008 Hyper-V and we will have to move to Server 8 sometime next year. Hyper-V on the client side also has benefits for business.
Homerun for FRFHF
in Fairfax Financial
Posted
My very basic calculation puts FFH share at $75M US. Unfortunately not enough to move the needle.