hardcorevalue

All I can say is I have seen this in countless friends (late 20s early 30s age group) in Toronto. Yes, the most common belief is if you don't buy now you will never be able to afford a house in the city. There is zero belief (and I say this not over exaggerating) that house prices can go down. They are a 'one way' asset to most Torontonians. Any time you mention the US, Ireland, or other markets where housing broke, they say Canada isn't like that or the government would never let that happen. This spring is likely to see material price appreciation in Toronto, the interest rate cuts (although small) make it seem to the public that rising prices are even more permanent now.

I am with HJ on this. I too am very nervous of the effect of Apple pay on Amex's business model ('the cache'). When you pay with Apple pay nobody cares about your credit card, they care about your phone. (Just my opinion of their brand not the stock)

I think Buffett talks slightly differently publicly because his words carry so much weight and are then held by others as rules. I mean yes leverage for some very talented investors on some occasions makes sense but for the majority of people it could bankrupt them at some point, so he errors on the side of caution when writing these letters.

Here are links to all the videos: http://video.foxbusiness.com/v/4032604091001/buffett-think-new-nebraska-store-will-do-over-1b-in-sales/?playlist_id=1866680862001#sp=show-clips http://video.foxbusiness.com/v/4032604090001/buffett-my-aunt-gave-me-20k-to-get-started/?playlist_id=1866680862001#sp=show-clips http://video.foxbusiness.com/v/4032560065001/buffett-will-probably-buy-a-small-business-in-western-europe/?playlist_id=1866680862001 http://video.foxbusiness.com/v/4032419536001/buffett-geico-was-my-first-love/?playlist_id=1866680862001#sp=show-clips http://video.foxbusiness.com/v/4032461248001/buffett-on-coca-cola/?playlist_id=1866680862001#sp=show-clips http://video.foxbusiness.com/v/4032419537001/buffett-on-oriental-trading---/?playlist_id=1866680862001#sp=show-clips http://video.foxbusiness.com/v/4032581826001/buffett-on-cancer-2016-elections-and-apple-/?playlist_id=1866680862001 http://video.foxbusiness.com/v/4032712005001/warren-buffett-fed-will-find-it-very-tough-to-raise-rates-this-year/?playlist_id=1866680862001#sp=show-clips

Looking good guys! Looking forward to the dinner!

Yes, I am the same. I want to buy a house but they are wayyyy too expensive and I can't get over the fact that after the 5 year fixed term you have no idea what your mortgage payment will be. I'm 28 and a lot of my friends in Toronto have started buying real estate (particularly condos). I ask them what happens if interest rates double in 5 years and they have no answer what so ever. It's like they haven't even thought about it. Boggles my mind. I guess I'm stuck in the rental market for eternity! But I'm happy to save the difference and compound it at a good rate :)

Thanks Hielko, I really need a new suggestion on a broker. As a Canadian we have limited access. IB Canada doesn't even have access to South American markets either.

How are you guys buying in athens? I looked at opening an account with interactive brokers canada and Greece isn't one of the countries available to trade in. https://www.interactivebrokers.com/en/index.php?f=exchanges&p=europe I emailed and they confirmed greece isn't available. Perhaps this is just a Canadian problem. Any ideas?

I think this was premiered at Bob Miles conference in Omaha in May 2013.

+1

congrats packer! hopefully see you again next year at the FFH meeting. Cheers!

15%, less than I like but Bernanke is forcing my hand to a degree. High debt loads and printing presses are a scary combination. :-[

This reviewer on Yelp summed up Second Cup's problem pretty well I think: "I like Second Cup flavored coffees. But you get a mixed bag in terms of stores with Second Cup. Being all franchise run, some owners maintain their places but most have pretty scary bathrooms. Starbucks has fewer surprises and a more uniform presentation. But then their coffee costs more." In addition to Second Cup's tired looking stores, I've also heard a fair amount of complaints about the quality of the coffee. Management doesn't seem really concerned about it either. Stacey Mowbray (CEO) only has $170k in stock. Her salary has doubled in the past 3 years while operating income has fallen by a third. :| Paul Phelan owns 12% of the shares. There was an in-depth globe article in 2003 about him the inheritance issues involving Cara Operation. http://www.theglobeandmail.com/report-on-business/the-fight-for-caras-soul/article1167819/?page=all I've attached his shareholding history as well. (no major moves in the past 3 quarters). Seems like a tough industry. Cheers, HCV. PS. I'm a long time lurker and a huge fan, I've learned so much from this board and its members. Thanks.