fareastwarriors

Good for that young man for stepping up. But that older lady taking advantage of a blind person...That is truly sad...What is the world coming to...

Glad to see Warren as witty and sharp as ever.

An August memo obtained by Bloomberg News outlines new rules. They limit printing to 200 pages a month per employee and restrict color pages to “customer-facing purposes.” Employees can spend no more than $15 a month on office supplies and are expected to reuse items such as box files. To save on electricity, mini-refrigerators “are not permitted moving forward” and staff should rely on appliances in common areas. Such measures suggests there’s not much fat to trim, said Noel Hebert, chief investment officer at Bethlehem, Pennsylvania-based Concannon Wealth Management. Under pressure from investor Nelson Peltz in 2006, Johnson embarked on a plan to lower expenses by $355 million. Consumer Focus “When you start getting down to the amount of paper you can use, it’s telling you the obvious stuff is gone,” said Hebert, whose firm manages about $250 million ~~~~~

thank you!

Where Is Dick Fuld Now? Finding Lehman Brothers' Last CEO http://www.businessweek.com/articles/2013-09-12/where-is-dick-fuld-now-finding-lehman-brothers-last-ceo#p1

How Wal-Mart’s Waltons Maintain Their Billionaire Fortune: Taxes http://www.bloomberg.com/news/2013-09-12/how-wal-mart-s-waltons-maintain-their-billionaire-fortune-taxes.html#disqus_thread

http://online.wsj.com/article/SB10001424127887324094704579067273212926170.html?mod=pls_whats_news_us_business_f Russian Billionaire in Talks to Sell Stake in Uralkali Possible Divestiture Aimed at Easing Tensions With Belarus

But few mutual and exchange-traded funds actually follow the Dow industrials when compared to the S&P 500. Some $1.6 trillion in mutual and exchange-traded funds directly track the S&P 500, according to S&P Dow Jones Indices. That compares with just $30 billion that follows the Dow. http://blogs.wsj.com/moneybeat/2013/09/10/dow-shakeup-wont-leave-big-trading-footprint/

DJIA is no S&P 500 and besides the market is up overall. Not enough downward pressure.

Nuveen has "no leverage" CEFs available. Most are trading at a discount.

What about all those Nuveen CEFs that are trading at discounts to NAV? It seems like PIMCO CEFs rarely trade discount to NAV and often times trade at a substantial premium to NAV.

How dirty are people's clothing? I'm always amazed at the astonishing amount of detergents/cleaners... I work in an office. I take a train and then drive home. I'm don't work on a farm or crawl under basements for a living... My clothes don't get that dirty... I guess I need kids to appreciate a good detergent...

http://blogs.wsj.com/corporate-intelligence/2013/09/05/life-imitates-art-in-elon-musks-new-iron-man-routine/?mod=WSJBlog&mod=WSJ_corp_intel Life Imitates Art in Elon Musk’s New Iron Man Routine

Life Without Fannie Mae and Freddie Mac http://www.nytimes.com/2013/09/08/realestate/life-without-fannie-mae-and-freddie-mac.html

I'd certainly like to know the answer to that, being a FAIRX holder. It seems highly unusual that he would close the fund in Feb and re-open 6 months later unless he saw large investment opportunities. But others raised a good point about redemptions and nervous FAIRX holders. I have several people invested in FAIRX, and after 2011 - I get lots of questioning - why does he own SHLD, etc??? Personally, I like his style of concentration - but it's definitely not for everyone. very true. I personally added some money to FAIRX in my IRA. Go Bruce!

No.

http://video.cnbc.com/gallery/?play=1&video=3000196230 Bruce on CNBC

http://video.cnbc.com/gallery/?play=1&video=3000196230 Bruce Berkowitz on CNBC.

http://www.cnbc.com/id/100999661 How a Brazilian billionaire lost $25 billion in 18 months

Inception date is 04/08/2011

Google the name of the article and it will give you free access to the article. (or go to your local library and use their subscription of Barrons).

I really like these guys. I like how to think and talk about their investments. I might have to switch some of my IRA assets to them.

I hope DJCO drops more. I hesitated and didn't buy when it was sub-100. Then it went on a tear.

Then how did people know that he bought those preferreds? If he didn't say it, people won't know, right? Also there are a few preferreds. I am wondering which is the one that he bought, though I think it probably makes sense to just buy the most liquid ones. Thanks a lot! Any way to know his cost basis? Just looking at one series of one fund, and it looks like he bought at ~5-10% cheaper than the current prices on the preferreds In the link, it said "value". I am wondering if this is mark to market value, or it is his cost basis? If it is his cost basis, I am a bit surprised that he missed all the $1-$5 run up and bought almost at the top. "Value" should be # of shares held at period end times market closing price at period end.

From GSB (Stanford), on Natural Gas natural_gas.pdf