CorpRaider

You called the top with this thread. Kudos! Just kidding.

LOL. Its a BAC tradition, Ken Lewis was always barely intelligible. His speaking style reminded me of porky the pig with a hairlip.

I might have to get some exposure to this through Fairholme. This seems like the kind of thing where I want someone in the room for me. Cooper and Kirk? I'm not familiar with them, but I suppose Perry has Ted Olson.

If you're talking about an investment in yourself via self help courses at the local community center... >:(

Smaller/zero premium when I bought it (probably because it "blew up" a few years ago. heh) and lower duration in the portfolio at the time; they jacked the duration up a lot since I bought it, but that was after the blood bath, so maybe it will pay off. Yeah, even in a 25% bracket it was yielding about 9% tax equivalent. Just took a little schnitzel. I figure I might put whatever pittance I'm going to allocate to fixed income in this environment into some of these muni funds. Maybe I will scale in each time I read an article in the financial press about record outflows.

I caught a teaser for a joint appearance with becky quick as well. didn't catch the airtime. Maybe Moynihan is going to be his successor ar BRK. hah.

Did you guys pull the trigger on these? I nibbled a little PML and MQT before the fed gave us a little gift. Nice to get a little lucky sometimes.

Nicely done, sir. I picked up a little DSL myself a few days ago in a tax advantaged account.

Tesla? hah. PGH? Wait, it starts with a B? BP.

Twitter files; Hilton files; PE firms are "monetizing" investments....feels like a top to me.

yeah there is usually a redemption period.

PMF didn't have to liquidate positions, PML and PMX did, but all the leveraged munibond funds tanked during that period (remember meredith's great call?). A normal open-ended fund won't employ leverage, which will obviously result in lower volatility. In fairness, check out their 2009 returns, which is sort of what packer was saying.

I've been nibbling the pimco funds as well. I scaled into a little PML with my "granny money" several weeks back because at that time PML had the smallest premium and lowest duration of the pimco's. They have really jacked up the duration over the past month or so though. I also bought a little of one of the black rock one that has some higher rated bonds and a big discount to NAV; MQT is the one I went with there.

Surrender?

I searched for some other threads on this and it seemed like lots of people like fido. I don't really love them, it seems like they want me to call them all the time. I've had an account with scottrade before and liked them. I like TD Ameritrade and etrade a lot.

Legal fees? hah!

I've been assing around with BSBR, more just passively tracking and getting familiar. Probably 90% chance I never do anything other than just sort of learn a little about it.

Yeah, I would hit DNKN. Would like to pick some up if it ever got cheap, long runway in front of them, imop.

One other little data point, seems like Greenblatt's shop has put up better numbers in the managed accounts following the magic formula (at least per their website) which focus on the top 40, versus the FNSAX which focuses on the top ~140 which has outperformed the FVVAX, which focuses on the "top" 1000 or just tweaks the weights in the index depending on how you look at it. The records are all probably too short to draw any meaningful inference but something to stick a pin in on this question, it seems to me.

Did someone use excellent management and BAC in the same paragraph? Have you ever heard Ken Lewis or Brian Moynihan speak? hah! Just kidding...kind of

Those are some sick results. Well done. I am a concentrator for sure; I can handle volatility. For instance right now I'm 30% WFC, 30% BRK, 15% DTV, 10% GS, 10% LRE.L. For 10.5 years, returns are 14.2% annualized = 6% outperformance. For 13.5 years ( when I started), the outperformance is 9% per year. Most of this outperformance can be attributed to just two events/decisions: 1) Heavily owning BRK in 00-02 as it went up and the market tanked. 2) In March '09 putting 1/3 of my portfolio each into WFC and AXP at ~$10 each. So have I been smart or lucky? Munger has said getting rich only takes a few decisions...and I was extremely confident in those choices, but still...I would say someone with simliar results spread over many decisions would be on sounder footing. Nonetheless, I'll take it ;D Nicely done. I could make a convincing case that I display extreme arrogance by being lucky enough to live at the same time as arguably the greatest investor the world has known and yet not owning any BRK or WFC.

Thanks for sharing, sir.

going on the list. Thanks!

No I was only jesting, regrettably. I posted in one of the North American E&P company threads that the whole middle east is basically involved in a sectarian regional quasi-hot war to my mind. I see no reason the UK, US and/or France should do the dying and the pay the price for the sunnis' fight. Quatar, UAE and the Saudis, (arab league, whomever) can pay if they want to play. Same for the shia, imop. I don't think Obama is going to go plowing in there, he will just do something like Clinton did with the serbs. I'm a political or at least non-partisan but just be glad we don't have a president with a different "world view" in office. Bombing probably won't stop the genocide/chemical weapons though, but if Turkey and/or the Saudis want someone to do more, they can step up instead of whining to get the Americans and the Brits involved and then bitching about how we do it. All just my opinion.

Raytheon....just kidding...kinda'.