fareastwarriors

Buffett loves to perform and just have a good time. What an incredible man.

While I think it would be wiser to build infrastructure projects when times are bad since costs would be lower for both material and labor, I think your estimation of the beneficial impact on the unemployed is way too optimistic. Most of the unemployed have no construction experience. WPA/PWA/CCC anyone? New Deal 2.0

http://www.cnbc.com/id/47974815 the average age of the 245 million vehicles registered in the U.S. in the first quarter of this year was 11 years. The fleet is rapidly aging. Yes quality went up but eventually people will want the newer sexier models.

I just came back from a BAC branch. I went in there to close 2 CDs and transfer them to savings account. It took me 30 minutes... and the line was 10+ deep when I left. ...Long BAC.

I heard of similar operations here in the Northern California/Bay Area. I don't know how extensive it is but that is interesting funding model. I am closing in a 3-unit property right now. We are working on inspections/etc. I probably did more than over 50+ bids by now. I started my search early this year. I am paying a few thousand above the list price. I am looking for more! I don't have an "elephant gun" but I do have a water gun! I just wish I had more capital...

OC, don't really care for the inland empire area. And I'm trying to figure out whether this is just the normal summer thing or there is some kind of deeper and more permanent change is going on. The agents are saying different things, of course. Some think that the market will cool off in Fall and mention that banks are holding back inventory because of some kind of handshake deal with the government to create an appearance of improving housing market to help current president to get re-elected (I'm not sure I buy that one. I can see banks not being that agressive on short sales, so they don't have to realize losses, but holding back foreclosed homes would cost them real money.) Some agents believe that the market is normalizing, the interest rates are so low, the rental market is so strong, and the prices are so attractive compared to rents that many investors that held back before are stepping in. I even heard talks about some hedge funds buying entire portfolios of distressed residential properties from banks, setting up or using existing property management companies and are renting those out or are flipping them. Sort of makes sense for the funds and for the banks. It seems like the Private Equity/Hedge Fund folks are running into some problems buying large bulks of homes. http://www.bloomberg.com/news/2012-06-13/private-equity-has-too-much-money-to-spend-on-homes-mortgages.html It's an interesting read.

The lower end and the higher end here in the Bay Area are getting lots of bids and majority are above asking. But I am still seeing some offers fall through because of financing problems or low appraisals. I'm not worry about bidding above asking because I feel as long the "numbers" still make sense. I willing to buy in. I figure, with a 30 year mortgage and the current rates, I can still make a good, if not great, return on my money.

I don't think anyone can call the direction of a stock... If things blow up in Europe, it could be down 10/20% but who knows... Like mentioned before, it is best to average in.

It's good to see WEB is willing to tighten the screws a bit when necessary.

Heard about a lot about him but never seen any videos of him before so thank you for sharing!