fareastwarriors

Do you use Facebook? If you do, you can search the name of the article in FB and this will bypass the pay wall.

oh boy.... Bruce Berkowitz Seeks Return to Glory by Betting on Sears https://www.wsj.com/articles/fund-manager-makes-contrarian-bet-loading-up-on-sears-1498734001

How Warren Buffett’s $16-Billion Bet on Bank of America May Change With Fed Stress Test Stockpicker’s Berkshire Hathaway could become the U.S. bank’s largest shareholder through a share swap https://www.wsj.com/articles/how-warren-buffetts-16-billion-bet-on-bank-of-america-may-change-with-fed-stress-test-1498642203

Fairfax ;)

The lean and mean approach of 3G Capital Founding partner Alex Behring talks about the strategy transforming the beer and food industries https://www.ft.com/content/268f73e6-31a3-11e7-9555-23ef563ecf9a

So in Canada there are all these pathways to $80-100k careers. Plus benefits of course. So many options to get to those numbers. There are quite a few options to push that out to $150k if you excel in your field as well. All without capital risk or other business risks, just an investment in a career. Meanwhile, when you look at owner earnings on businesses so many fail to consistently exceed that $80-100k level even with you managing the company. That is the main problem I see in Canada. You are generally better off to go the career route unless you are willing to own multiple small businesses or do exceptionally well. Yes, I know there are exceptions of course but these seem to be the average numbers for businesses. Not sure how that compares to the US. This is so fascinating to me, it completes part of the puzzle of something I'd seen while there, but couldn't put a finger on. When visiting over the past few years I had this sense, or feeling like I was in the US in the 1980s or 1990s. People all still dress nice for work, it seemed most everyone had a nice office job. It was this blast from the past. But it was more then that. I think your comment hits it. Most Canadians have a safe income, or a higher safe income from a company. They're medium or larger companies that provide this. Because of this you have a very homogenous work environment, similar to what we had in the past in the US with more bigger companies. Now in the US it seems we support more of a hustler mentality. Even downtown the only people in suits are lawyers and bankers. Places are filled most hours by people supporting themselves a variety of ways. From working at home to stringing together jobs etc. The freelance/entrepreneurial culture is strong, and not just in the Bay Area. I hired some guys to put up a new fence for me. This was a lower class guy who had a crew of neighbors and family working for him. He did the fence cheap, he worked his own hours. Sometimes they'd arrive at 8am, other days at noon. Some times they'd disappear for two hours to get coffee. The guy pulled together jobs and did alright for himself. I have a neighbor on my street that does something similar. There seems to be a lot of diversity in working situations here. A lot of people working for themselves, or working in small groups. I know my dad went from working for a company to just doing consulting on his own for a few years and now he's back with a company. The go on your own route is popular. Same with side gigs, I know a ton of people who do stuff on the side to make a few extra bucks. I'd wager that 20-25% or more of the work force has a side gig. Of those I'd say 90%+ are hoping the side gig turns into something real. We're friends with a doctor and his dentist wife, they were growing shrimp in their basement for a while. These are people making deep into the six figures each, and in their basement they had invested tens of thousands building a pool to grow fresh gulf shrimp in the north. I asked him if the shrimp business took off what would he do, he said he'd quit being a doctor and run the shrimp thing. Another doctor who's a neighbor runs a pool cleaning business on the side. It's really like entrepreneurism is baked into our culture. From your comment it seems that isn't the case in Canada. People make really good money working for someone else and there's no motivation to do something on the side. In the US it seems everyone has some moon shot project they're brewing up. My sense from reading is that China is similar, the Chinese are doing the same things we do, and I'm guessing the outcome will be the same eventually. I work in nice a job in the Bay Area. My side hustle is rentals (3 units). ;) I hope I can one day quit my comfy office job and run my own business (rentals or something else).

Supporter of the Stock or the Product?

+ 10 : Awesome story. I met a lady way back who was retired from running a "Chinese" restaurant with her family. She owned all the buildings on half a city block in the downtown of a smallish city in Ontario. Dont how the rest of the family fared... the cheap labour portion. She was probaby from Hong Kong or from the mainland via Hong Kong. Thanks for that BG. I grew in SF Bay Area. We are immigrants from outside of Xinhui. Much of my life was similar to yours except we didn't own a Chinese restaurant. I wished we did though! My mom was seamstress and my dad worked at Chinese take out places. They worked 6 or 7 days a week, no vacation. Mom was paid less than minimum wage at the time and my dad made a bit more than minimum. Somehow they managed to save enough to buy a home in a nice town. Long story short, my brother and I are doing just fine nowadays. He works hard in blue collar as general contractor and I work in an office. He owns a home as well a rental and it is the same for me. My family are grateful to have all these opportunities to succeed in this country. But honestly, most Chinese came in 1990s to US regret they did. The opportunities of last 17 years in China were unbelievable! I came in the mid-90s. I know my parents don't regret leaving. They were farmers with no education, no connection, and no capital. I also don't think they had the business mind to make it in modern China. Within the last few years, more than 20 of my relatives immigrated here. A few did choose not to come. They have good jobs and/or businesses. I don't blame them for not coming. It's tough to move to a new country especially when you don't speak the language!

+ 10 : Awesome story. I met a lady way back who was retired from running a "Chinese" restaurant with her family. She owned all the buildings on half a city block in the downtown of a smallish city in Ontario. Dont how the rest of the family fared... the cheap labour portion. She was probaby from Hong Kong or from the mainland via Hong Kong. Thanks for that BG. I grew in SF Bay Area. We are immigrants from outside of Xinhui. Much of my life was similar to yours except we didn't own a Chinese restaurant. I wished we did though! My mom was seamstress and my dad worked at Chinese take out places. They worked 6 or 7 days a week, no vacation. Mom was paid less than minimum wage at the time and my dad made a bit more than minimum. Somehow they managed to save enough to buy a home in a nice town. Long story short, my brother and I are doing just fine nowadays. He works hard in blue collar as general contractor and I work in an office. He owns a home as well a rental and it is the same for me. My family are grateful to have all these opportunities to succeed in this country.

cash - usual deal spec https://www.bloomberg.com/news/articles/2017-05-01/buffett-s-86-billion-cash-pile-has-some-dreaming-of-a-huge-deal

I think pretty everyone know about the reliability difference. How come the German and American auto companies don't try to improve reliability? Their management just don't care?

No doubt. Whale season.

Jurgis, I just hope that the extra proceeds from the enormous Berkshire position in WFC ends up in something that has the capacity to suffer - something antifragile ... not airlines! - Time will tell. Maybe if United falls, Delta and American can have a duopoly. Even more pricing power.

to be honest, I don't know why people on here constantly pump his stuff, his long term returns have been miserable. Who's pumping? There are barely anything about Chou.

Sounds like Blackrock is just chasing what is hot right.

What's the best for them then?

What kind of business? I agree with you completely on FB ad targeting capabilities. I doubt very few of you on here have ever used either AdSense or FB ads. I was a bear on FB when it IPOed and yet I ignored it when my friend who had a small website making him a little side hustle money told me that he was dabbling in Facebook ads and his ROI was tremendous. I watched him kill it and was envious for him and yet still couldn't make the leap to buy FB stock. His cost of ads double annually and yet still have a positive ROI due to the segmenting that he does. His business almost did $10M in sales this last year up from $5M the year before and he grows the majority of his sales via FB and less so Intragram. He still advertises on Goog and its ok but he is interested in a new Youtube sales channel that is supposed to be coming. GOOG has been slow on this.

The Great Nevada Lithium Rush to Fuel the New Economy The race is on to get the mineral out of Clayton Valley and into your iPhones, Bolts, and Powerwalls. https://www.bloomberg.com/news/features/2017-03-29/the-great-nevada-lithium-rush-to-fuel-the-new-economy

Carson Block Is Up All Night Watching Huishan Rout He Called https://www.bloomberg.com/news/articles/2017-03-24/carson-block-stays-up-all-night-to-watch-huishan-crash-he-called

‘Bro, I’m Going Rogue’: The Wall Street Informant Who Double-Crossed the FBI https://www.bloomberg.com/news/features/2017-03-23/-bro-i-m-going-rogue-the-wall-street-informant-who-double-crossed-the-fbi

I live my life by: Yes means maybe, maybe means no, and no means FU basically. My favorite: on my way = You haven't left the house yet.

I think he will be just fine. He probably can get a job at another fund or somehow raise capital for his own fund again. This industry love to reward gamblers...

Isn't the link in the pdf already?

Yes, under the Investment Ideas section. http://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/djco-daily-journal-corporation/msg284175/#msg284175

Here is the full transcript of billionaire investor Warren Buffett's interview with CNBC http://www.cnbc.com/2017/02/27/billionaire-investor-warren-buffett-speaks-with-cnbcs-becky-quick-on-squawk-box.html