fareastwarriors

Fed Says Fannie and Freddie Have Not Repaid Taxpayers http://blogs.wsj.com/moneybeat/2015/03/25/fed-says-fannie-and-freddie-have-not-repaid-taxpayers/?mod=WSJBlog&mod=overheard

Banks Keep Loans Close to Home Fannie and Freddie profits could feel pain http://www.wsj.com/articles/banks-keep-loans-close-to-home-heard-on-the-street-1427054153

The Fannie and Freddie Profits: Pendulum or Pit? http://blogs.wsj.com/moneybeat/2015/03/17/the-fannie-and-freddie-profits-pendulum-or-pit/

Bloomberg View columnist Barry Ritholtz interviews Brad Katsuyama, President and Chief Executive Officer of IEX Group, formerly the Global Head of Electronic Sales and Trading at RBC Capital Markets. They discuss dark pools. This interview aired on Bloomberg Radio. http://www.bloomberg.com/podcasts/masters-in-business/

Seems like Mr. Circuit Speaker is doing just fine though... maybe our punishments are not harsh enough.

Is it going to be the same "screw the customer" experience as in other auto dealerships? I guess I don't understand this purchase. I have a friend who is in car dealerships and he's been saying valuations have been stretched for years. When he and others are thinking of getting out you have Buffett climbing in. The industry has completely changed in the last few years. Previously there was a greater margin on new cars. Now that margin has shrunk and dealers make their money on incentives from the manufacturers. They also make money on service. Used car sales offer some promise. There is a LOT of margin in most sales especially in the $5-15k range. Incentives have changed with online sales. We recently purchased a car from a volume dealer near us. The price changed on a fairly regular basis based on the surrounding market. The dealer didn't actually set the price, they set parameters in the software and let the software set the price. We paid what I'd consider a fair price. The car is in great shape and is somewhat rare. It was cheaper than other cars in the area by a few percentage points. The dealer said the slight discount is how he moves volume. They do 150-200 cars a month and have found for them that's the only way to make money. It's an interesting business model. I ran this by my friend who's in the dealer business, he knew the software immediately and said it's what everyone has moved to. There isn't a guy out there guestimating a value anymore. Part of me thinks Buffett is out of touch on this. He's thinking dealerships are still full of guys in corduroy blazers with elbow patches working customers over for every last cent. With the Internet and mobile I don't think too many customers have patience for that business model anymore. Especially if you can go on TrueCar or a million other sites while at the dealer and see what others have paid. What was the software? Excuse my ignorance, I thought dealers make money on the service side of the business. It seems like every time I go to a dealership their service bays are always full....

Buffett Says ‘Fun Has Just Started’ for Auto Sales at Berkshire http://www.bloomberg.com/news/articles/2015-03-10/buffett-says-fun-has-just-started-for-auto-sales-at-berkshire

Think he's okay... http://www.wsj.com/articles/baupost-group-founder-seth-klarman-has-cardiac-bypass-surgery-1426004312 Baupost Group Founder Seth Klarman Has Bypass Surgery Hedge-fund manager was discharged from hospital Tuesday

I follow the Buffett diet.

With Revamped Gold Cards, Bruised American Express Returns Focus to Affluent http://www.cnbc.com/id/102462544?trknav=homestack:topnews:20

What a run! May he rest in peace.

Calling Ed Jones an investment bank? Hahaha, good one.

That's a fair point. And I think most, if not all, of us agree with the fact that issuing dividends and then diluting shareholders is not the best use of capital.

I don't think there is an easy answer to that. One can try to ask that at the AGM. Let us know what he says.

Shareholders unite and revolt!

You're talking about the Citi Doublecash card. You get 1% cash back when you purchase and 1% when you pay your balance. The Citicard is a good card since the Amex is not accepted everywhere.

yeah i like him too Any good articles on him? I never heard of him.

Brit Insurance Policy Should Pay Out for Fairfax Canadian group’s all-cash agreed takeover offer for Lloyd’s of London group Brit Insurance should give all involved a healthy return http://www.wsj.com/articles/brit-insurance-policy-should-pay-out-for-fairfax-heard-on-the-street-1424182126

I wonder who will win this business. I need a new credit card. I been paying with a debit card at Costco (no rewards!).

https://www.gmo.com/America/CMSAttachmentDownload.aspx?target=JUBRxi51IIBoe1yul9uERnfCmQoglFl9k5qwJSfHx8w%2fWCnFLmEb2MC9GoFnZVlslR5NzCRY1ajgn503icBv67VQg%2fNVUMWsYvi3A2%2fL%2bS28A7Pthjp7LmOfLYQfHMJc The World’s Dumbest Idea James Montier

So I just show up and walk in? It's that simple? Sorry, newbie here!

I wonder what was mr janitor's picks? BRk? ;D

or try this http://www.cnbc.com/id/102398488#.

Ridiculous question but I'll ask anyway. I've been to MMM a couple of times and don't see an archive. How are you reading the posts in order? I went to "Start here", but that didn't help. On the main page, right on top: Take a look around. If you think you are hardcore enough to handle Maximum Mustache, feel free to start at the first article and read your way up to the present using the links at the bottom of each article. For more casual sampling, have a look at this complete list of all posts since the beginning of time. Go ahead and click on any titles that intrigue you, and I hope to see you around here more often. Love, Mr. Money Mustache

nothing new... http://www.bloomberg.com/news/articles/2015-02-03/berkowitz-says-no-free-lunch-buying-hated-stocks-affirms-bofa Bruce Berkowitz Says No Free Lunch Buying Hated Stocks