Grenville

In regards to selling, make sure you check the Odyssey Re portfolio. They may have switched the position to a total return swap.

http://www.nasdaq.com/reference/ownership.stm Pretty good, takes a few days to get updated after 13F's come out.

Thanks for posting. Looking forward to reading more about him. I already like his "non-traditional" approach.

Thanks for posting the presentation. Any idea what types of policies are covered in their "miscellaneous" category?

Thanks for that piece of info re Fairfax. Always interested in understanding the web.

Thanks for posting, should be an interesting read!

Awesome. I imagine there's so much knowledge spread across the organization, this should help grow and sustain the culture across Fairfax! Hats off to Fairfax for making this available to shareholders in some form!

Signed up as well. Could be a very useful class. Thanks for posting!

Interesting details regarding the proposed acquisition in the US, thanks for posting.

interesting. It would be interesting to see the testimony from the case if it ever gets released.

Additional detail from Fairfax press release: http://www.fairfax.ca/news/press-releases/press-release-details/2012/Fairfax-to-Purchase-Interest-in-Thai-Reinsurer1127996/default.aspx 25% stake for US $70million

Thai Re agrees to sell 21% stake to Fairfax http://www.bangkokpost.com/business/economics/275934/thai-re-agrees-to-sell-21-stake-to-fairfax

Thanks for posting!

Long time reader, first time posting... To get an idea of revenue attributable to online sales I did some crawling through linkedIn profiles and found a Sears Ecommerce manager/director that said they were responsible for around 1.5 Billion in ecom revenue. Being a tech person myself I have spent a lot of time reading through linkedin profiles for SHLD people and also reading job descriptions for the positions they have open on the Sears Holdings website. For me it helps paint of picture of whats going on behind the scenes with the online strategy. Thanks for the suggestion at the number for online, I'll take a look through linked in. Any thoughts on their home services business or the breakdown of home improvement? It is bothersome that the breakdown for online, home services, repairs, appliances, tools, lawn aren't given in the reports.

Enjoying the discussion. I read the 2010 10K over the weekend and the annual letter. I had a question if you guys could share your insight. Does Sears breakout absolute $ of online sales or sales from home services which includes home improvement? It would be nice to get a better feel for what parts of the business are doing good, they do provide commentary about comparables but its hard to get insight from those figures.

interesting data point, thanks for sharing.

You can find them here: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000071701&owner=exclude&count=40 I have the .pdfs from when I was a shareholder of the mutual funds. Not sure about Worldcom.

I don't know about the Winters fund. I think David Winters came to the FFH AGM last year. Right now I have put all my 401k funds into bond funds or cash. The macro stuff worries me and I'd rather pick and choose individual companies. I haven't decided on indexing, but I don't have any money in index funds now. Also I will hopefully have access to those 401k funds where I can roll them into a brokerage so I would rather preserve the capital.

I use to own Davis NY Venture & Selected American (both Davis Funds). See the attached listing of his holdings in April 2008: AIG -1.4bln Merrill - 1bln Wachovia - 400mln Total holdings 45bln He rode those holdings down to very little value. An expensive learning experience for me in my company 401k. Thankfully I found this message board in 08 and 09. DNYVFNQ043008.pdf

Zero hedge has the 242 page transcript of the deposition in Fairfax's case on their website here: http://www.zerohedge.com/news/presenting-steve-cohens-complete-unsealed-confidential-deposition-transcript

Based on your quote above, its just like BNSF taking on debt to fund its operation and sending a special dividend up to the parent, Berkshire Hathaway. If the terms of the debt indenture allow it, it is ok. It's like a company paying out a dividend to its shareholders even though it has debt outstanding. A credit facility is another form of debt.

Here is the subsidiaries website: Fairbridge Capital (India) http://www.fairbridgecapital.com/index.html

The hedges do offset their equity positions, but their bond portfolio is high quality (govt, munis (CA), and Berk backed munis) and long term. On top of that you have the huge notional portfolio of deflationary CPI bets that will do well in a depression type environment.

Here is the SEC data. Just the US reportable holdings and I think he still holds FFH. http://www.sec.gov/Archives/edgar/data/1173334/000119312511310619/d256116d13fhr.txt

It's also interesting to see additional TRS that look to be short positions against the following: BHP Billiton 70mil at 95 (5/11/11) Freeport 62.8mil at 55.9 (5/11/11) Rio Tinto 63mil at 74.7 (5/11/11)