fareastwarriors

http://online.wsj.com/article/SB10001424127887323477604578654070088855686.html?mod=WSJ_hp_LEFTWhatsNewsCollection LNG Project in Louisiana Wins Export Approval ... The approval, granted Wednesday by the U.S. Energy Department, is the third by the Obama administration. The three projects combined are allowed to ship out 5.6 billion cubic feet of liquefied natural gas, or LNG, a day. .... The Energy Department says it is allowing Lake Charles Exports to ship up to 2 billion cubic feet of natural gas a day to countries lacking a free trade agreement with the U.S. The approval lasts for 20 years.

http://dealbook.nytimes.com/2013/08/07/not-banks-but-still-lending-and-drawing-investors/ Not Banks, but Still Lending and Drawing Investors

http://online.wsj.com/article/SB10001424127887323740804578601773736357516.html?mod=WSJ_hps_LEFTTopStories Consumers Find Investors Eager to Make 'Peer-to-Peer' Loans Peer-to-Peer Lending Platforms Enable Consumers to Bypass Banks When Borrowing.

http://www.bloomberg.com/news/2013-08-07/freddie-mac-to-pay-treasury-4-4-billion-on-quarterly-profit.html Freddie Mac to Pay Treasury $4.4 Billion on Quarterly Profit

From the buy-side, the word on the street is the estimates/target prices are garbage. The buy-side like the sell-side's industry data/competitors as well as connections/access to management. Some analysts are better than others. Buyers (users) beware.

~10% . I add cash to my portfolio like monthly since I have a small portfolio and I'm fairly young. I'm sitting on major gains on BAC/AIG/C/F/LUK/MIC but I only trimmed a bit of BAC/F and holding still the rest.

http://www.ici.org/research/stats/flows/flows_07_31_13

Can you manage his account free of charge and then have him "gift" you the money tax-free? (there is probably something illegal about this, im no CPA or anything like that. ()

Third Point Reinsurance Fund Arm Seeks Up to $370.6 Million in I.P.O. http://dealbook.nytimes.com/2013/08/05/third-point-reinsurance-fund-arm-seeks-up-to-370-6-million-in-i-p-o/ The reinsurance arm of Third Point, the hedge fund run by Daniel S. Loeb, disclosed on Monday that it was seeking to raise up to $370.6 million from its forthcoming initial public offering. Third Point Reinsurance said in an amended prospectus that it planned to sell 22.2 million shares at $12.50 to $14.50 a share. At the midpoint of that range, the reinsurer would be valued at nearly $1.4 billion. ...

http://www.nytimes.com/2013/08/07/us/politics/obama-fannie-mae-freddie-mac.html?ref=business Obama to Outline Plans for Fannie Mae and Freddie Mac

http://www.bloomberg.com/news/2013-08-06/obama-said-to-call-for-limited-u-s-mortgages-role.html .Obama Said to Call for Limited U.S. Mortgages Role

http://www.washingtonpost.com/national/washington-post-to-be-sold-to-jeff-bezos/2013/08/05/ca537c9e-fe0c-11e2-9711-3708310f6f4d_story.html ... The Washington Post Co. has agreed to sell its flagship newspaper to Amazon.com founder and chief executive Jeffrey P. Bezos, ending the Graham family’s stewardship of one of America’s leading news organizations after four generations. Bezos, whose entrepreneurship has made him one of the world’s richest men, will pay $250 million in cash for The Post and affiliated publications to the Washington Post Co., which owns the newspaper and other businesses. ...

Berkshire Avoids Rout as Buffett Sidesteps Bonds http://www.bloomberg.com/news/2013-08-05/berkshire-avoids-bond-rout-as-buffett-builds-shareholder-equity.html

http://www.fairholmefunds.com/reports new reports for the fairholme, allocation, and income funds.

Fairfax Financial Holdings Limited (TSX:FFH)(TSX:FFH.U) announces a net loss of $157.8 million in the second quarter of 2013 ($8.55 net loss per diluted share after payment of preferred share dividends) compared to net earnings of $93.7 million in the second quarter of 2012 ($3.79 net earnings per diluted share after payment of preferred share dividends), primarily reflecting unrealized losses on its bond portfolio, partially offset by strong underwriting results. Book value per basic share decreased to $361.87 at June 30, 2013 from $378.10 at December 31, 2012 (a decrease of 1.6% adjusted for the $10 per common share dividend paid in the first quarter of 2013). "We had strong and much improved underwriting performance in the second quarter and first half of 2013. Our net loss in the second quarter was only due to net mark-to-market bond losses of $500 million as a result of higher interest rates, including $400 million on our state and muni bond portfolio, a majority of which is insured by Berkshire Hathaway. Our muni bond portfolio was mainly acquired in the last quarter of 2008 at an after-tax yield of 5.79%," said Prem Watsa, Chairman and Chief Executive Officer of Fairfax, who further commented, "we are maintaining our defensive equity hedges due to our concern about the financial markets and the economic outlook. We continue to be soundly financed, with quarter-end cash and marketable securities at the holding company in excess of $1.2 billion." http://www.fairfax.ca/news/press-releases/press-release-details/2013/Fairfax-Financial-Holdings-Limited-Second-Quarter-Financial-Results/default.aspx

Potash’s $20 Billion Market Transformed by Uralkali http://www.bloomberg.com/news/2013-07-31/potash-s-20-billion-market-transformed-by-uralkali.html ... For some potash miners, the concern is that prices may fall close to, or less than, the marginal cost of production. Uralkali has costs of $62 a ton, compared with more than $100 for North American miners and almost $240 in Europe, according to the company’s July presentation. ...

Akman Copycats Risk Air Products Regret http://www.bloomberg.com/news/2013-08-01/akman-copycats-risk-air-products-regret-real-m-a.html

I'm sure SAC generate a lot commission/fees for GS.

Ackman Says Pershing Square Takes Stake in Air Products http://www.bloomberg.com/news/2013-07-31/ackman-says-pershing-square-takes-9-8-stake-in-air-products.html ... The hedge-fund firm’s stake in Allentown, Pennsylvania-based Air Products cost about $2.05 billion and is now valued at about $2.2 billion, Ackman, 47, said today in an e-mail. Air Products, which had a market value of $22.1 billion as of yesterday, is the previously unidentified target described by Ackman in a July 8 letter to clients. ...

Ackman's Pershing Square to Announce Largest-Ever Investment http://online.wsj.com/article/SB10001424127887324170004578638470384339086.html?mod=WSJ_business_whatsNews ... Mr. Ackman's firm is investing more than $2 billion in a U.S.-based industrial company, people familiar with the matter said. The identity of the firm remained unclear Tuesday. The investment will represent nearly 10% of the company, which has a market capitalization of more than $20 billion, said the people, who added that the company's stock over the past several years has underperformed the broader market. ...

It's probably a safe assumption that it's never happened to any guy who hangs out on a value investing message board. You are almost certainly the first. Live for us, Eric, live. +111111

http://online.wsj.com/article/SB10001424127887324354704578637613345900562.html?mod=WSJ_business_whatsNews#articleTabs%3Darticle ... For years, 66% of the world's potash—a highly effective potassium-based fertilizer ingredient—has been sold through two marketing groups: Belarusian Potash Co., or BPC, and North America's Canpotex. The two traders had set identical prices in major markets such as India and China, effectively operating as a cartel similar to the exclusive diamond trade. ...

Uralkali Breaks Potash Cartel to Grab Market Share http://www.bloomberg.com/news/2013-07-30/uralkali-sees-potash-price-slump-after-exiting-bpc-trade-venture.html ... Uralkali shares fell as much as 25 percent, the most since November 2008, and traded down 17 percent at 154.93 rubles by 5:45 p.m. in Moscow. Trading was suspended for a half hour after shares crossed the 20 percent threshhold. K+S AG (SDF) shares plummeted as much as 27 percent, the most in 15 years, and Israel Chemicals Ltd. (ICL) fell 18 percent in Tel Aviv. Potash Corp. and Mosaic each dropped 23 percent in New York, while Agrium declined 8 percent. ....

+1 Thanks.

http://www.bloomberg.com/news/2013-07-26/cash-is-trash-not-to-these-value-fund-managers.html Cash Is Trash? Not To These Value Fund Managers