fareastwarriors

Call me a luddite! I already think technology is moving too quick for me. I'm 25 but it is harder and harder to keep up everything going on...

http://online.wsj.com/article/SB10001424127887324085304579010732590715994.html?mod=WSJ_hp_LEFTWhatsNewsCollection Canada Regulator Suspends License for Montreal, Marine & Atlantic Railway

http://www.sec.gov/Archives/edgar/data/1549575/000154692712000045/0001546927-12-000045.txt

I have a positive experience to share. I bought a triplex back in October 2012. I had no experience, been at my first job out of college for about a year and quarter, my 20% down payment was a gift from my brother, and somehow I got the mortgage to buy a 300k property. I think the difference was I worked with a mortgage broker. She got me the loan at fairly resonable rate. The mortgage is with US Bank. Had I gotten loan back in 2010/11, it might have been a different story...

In Deal Hunt, Big-Game Buffett Settles for Small Prey http://online.wsj.com/article/SB10001424127887323838204579000771419280540.html?mod=WSJ_hps_LEFTTopStories Berkshire Hathaway Boss Trains His 'Elephant Gun' on Junior-Sized Targets With Larger Ones Scarce. Warren Buffett hasn't fired his "elephant gun" much recently, but he has put his managers on the hunt for smaller prey. Berkshire Hathaway Inc.'s BRKB +0.72%subsidiary operations collectively spent about $2.3 billion on 26 acquisitions last year, which the company says is a record amount. They have continued that streak this year, acquiring more than a dozen companies in the first half of 2013. Berkshire hasn't disclosed the amount spent by its subsidiaries on acquisitions this year. ...

Alameda, California.

http://online.wsj.com/article/SB10001424127887323477604578654523632054606.html?mod=WSJ_article_comments#articleTabs%3Darticle Potash Spat Seen as Limited Canadian Producer's CEO Says Russian Break From Belarusian Cartel Won't Last.

http://www.bloomberg.com/news/2013-08-08/loeb-s-reinsurer-with-no-u-s-staff-gains-from-obama-s-jobs-act.html Loeb’s Reinsurer With No U.S. Staff Gains From Jobs Act

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