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HeresyValue

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Everything posted by HeresyValue

  1. Thanks for the tips everyone. Unfortunately I didn't check this until now, too tired to manage anyways. A lot of the tips are pretty spot on, especially in terms of the entrances and free parking. Though I parked in the covered garage which made it easy to access the vehicle during the day since it's directly below the main entrance. It's also surprisingly easy to get in and out given the size of the event IF you stick around for the actual AGM portion of the event, which most people skip and make a mad-dash to escape. The line essentially dissapears by 7AM but I presume if you don't arrive before 6AM you won't be getting the 'prime' seats on the floor, best of the angled sides, and some of the back seats opposite the stage which are the best for long-term viewing IMO. There were apparently sizable numbers of people lining up from 3AM, the most hardcore of which (maybe a dozen or so since midnight) brought disposable gear they left at the doors as they dashed in.
  2. First time going. Any tips on when to line up? Which seats to get? How to get a picture/autograph with Buffett? Etc.
  3. Best (and only) comment: "Jean-Philippe 58 minutes ago 0 0 too long did'nt read" Probably just putting BRK on the record for regulatory reasons... getting in a pissing match with a stupid reporter and elevating his profile (for poor reporting) is creating an incentive for other reporters to do likewise in the future to get Berkshire's ear.
  4. Second Cup international is completely separate from the publicly-traded SCU. SCU is ONLY the Canadian franchise. This is a business that I decided on writing up several times (and still have an almost-completed version in draft) but never published due to the fact that this will continue to be a horribly run business without a catalyst investor. Problem is, David Phelan is virtually guaranteed to oppose any catalyst investor because he is intent on acquiring SCU via stealth-acquisition. This has the potential to be a very, very good cash-generative business with highly localized captive markets that can resist (and has resisted) the onslaught of Starbucks. However, this is NOT a growth business. The sanctity of the dividend has ensured that over the past decade the management and Board have traded future earnings for short-term cash return and have failed to invest even remotely satisfactory amounts into the business (marketing, renos, etc.). This can only change if/when an activist takes them to task and is able to out-vote David (his proxy on the Board is his former secretary, iirc). I own shares simply because of it's valuation and to force myself to follow the company more closely. However, returns elsewhere in the market and particularly in the small-cap deep value space easily outweigh the potential return here UNLESS you are THE activist or can piggyback off him/her.
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