ageofsocrates

retailing is a tough business..margins are low. He should had sold off non core assets and invest into businesses (passive equity investments) where returns would have been higher...

guys imho, should have a look at security analysis. Ben graham talks about investing during the depression era (u will be surprisd how eerily similiar it was to the crisis in 08/09). Cheers

imho... i think reading vic case studies especially the short case studies would give you a decent idea of financial shenanigans..

Its a good idea...but issue is that if market does not crash, u lose the premium...Personally, i would use gold as a form of insurance. More liquid and you can keep it till the next crisis occurs..

Another option is using secfilings.com and generating 10k pdf reports. I can easily read this on my Kindle DX (using the horizontal view). The software is not perfect but pretty decent. Hopefully, there will be improved versions of the software down the line..

Hi guys, Thought just share this since everyone has been generous with ideas/advice over the years. There is a software that allows one to reflow pdfs and make it more kindle friendly (in terms of making font size fit to Kindle screen). This is extremely useful for reading pdf copies of Annual reports/SEC filings. I have included the link below. http://www.willus.com/k2pdfopt/ Cheers, Mike

security analysis was a great book.. aside from the verbose language, it felt like Graham was speaking directly.

Actually, the answer is pretty straightforward. Have a body that manages systemic risk through a bailout fund (i.e EFSF) which can stabilise financial markets through bond buybacks and recapitalising banks. The issue is that idiotic europeans finance ministers need a crisis to see that there is a need for such a mechanism. The issue of the Lehman brothers collapse was not the bankruptcy of the bank itself but rather its effects on the CDS markets which were far far larger than the entire world economy. Now, if Greek defaults, this event could be far larger than the Lehman brothers collapse due to the size of the Eurozone and the contagion effect on the bloody PIIGS( Portugal, Ireland,Italy, Greece and Spain). Here is a Soros interview mentioning in more detail http://www.reuters.com/article/2011/09/15/us-eurozone-soros-idUSTRE78E0II20110915?feedType=RSS&feedName=topNews

At the moment, I read some SEC filings using the Kindle 3 (using the browser). Though I think Kindle DX is better for reading SEC filings.

Had a quick question for everyone...usually I use sec.gov for reading company filings..however, do u guys normally read it online or just print out the entire report ? As reading online for several hours at a go can be taxing for the eyes? On the other hand, printing out 10ks can be costly considering if one is examing a large number of companies. Appreciate any kind input here.

Hi everyone, Greatly appreciate the input here. SharperDingaan, would it be possible to explain how a T Bill/Leap strategy would work?

Hi, Had a question and was hoping someone could help.. basically would like to ask how can I do a rollover of some options contracts? Do I just close the existing contracts (i.e MSFT Sep 2011 $20 Call) and buy the new contracts (MSFT Jan 2013 $20 or can I ask my broker to carry it out for me (at a narrower bid/ask spread)? Also, for a large LEAP options position, how does one deal with liquidity (e.g MSFT Jan 2013). Would open interest be the main consideration when looking at liquidity? Lastly, any recommendations for an options broker that provides dealing execution services? I checked with Interactive brokers but they mentioned that they will ask the clients to just place the orders online on their own (even for large sizes) Appreciate any guidance here.

I agree with Uccmal. Berkshire is basically a proxy to the US economy with its underlying subs (i.e mid american, home-america,NFM,Burlington Northern etc) and Buffett is probably the best person to judge whether the economy is growing/slowing. Also, there are some other things that we fail to spot...ie second order economics.. especially breakthroughs in nanotechnologies/life sciences/robotics in the near future cannot be discounted The advantage of the market economy allows the most efficient allocation of resources. Buffett always keep reminding us that just because we have a lousy 5 years..the system has actually worked tremendously over the past 200 years in even more challenging times (i.e civil war, great depression, WW2, Cold War etc)

Guys, Have a slightly different approach..more on inverting and looking for companies with issues (commodity like businesses, bad capital allocation) and then compile a list of traits of badly mismanaged companies to avoid... There is an excellent book on this... http://www.amazon.com/Art-Short-Selling-Marketplace-Book/dp/0471146323/ref=sr_1_1?ie=UTF8&s=books&qid=1308544663&sr=8-1

Hi guys, Found this at Ben's blog... http://inoculatedinvestor.blogspot.com/2011/05/comprehensive-2011-berkshire-meeting.html Cheers

If anyone goes, would be immensely grateful if you ask the following questions during the Q & A. 1.What are mistakes he has made in investing? 2.What checklist he uses when screening for ideas? What does he try to look out for in "special situations"? Wouldnt mind paying for any costs involved here. Just drop me an email ageofprophet@gmail.com Cheers

If anyone goes...please do post your notes..would be immensely beneficial to the rest of us who live out of North America.. personally, would love to attend but unfortunately I live half way across the world here in Asia.

Hi ValueCFA, I live in Singapore. Let me know if you need any info. Just drop me an email to ageofprophet@gmail.com cheers

Hi, As a Singaporean, I wish to give my take on this. Firstly, Lee Kuan Yew is a smart guy. One of his key strengths is his ability to absorb enormous amounts of information. He professes to a big believer in reading (read, read and read) In recent years, he's been promoting himself as "statesman" with his foreign policy experience of almost 40 years and intimate knowledge of South East Asian and East Asian politics. As a leader, he is known as being decisive and having foresight with an autocratic bent. But have to point out, in an effort to move Singapore into the First World, it came at a heavy cost. He has been known to jail dissidents for years without a trial. In one case, a dissident who dared to challenge him was subsequently jailed for 23 years with a trial.More information can be found here. http://en.wikipedia.org/wiki/Chia_Thye_Poh In addition, by beating any form of opposition into submission, he could implement policies almost overnight without the need to engage in the democratic process. Lastly, much of the success enjoyed by Singapore was due to riding on the back of the Asian tigers (Taiwan, Japan and Korea) by adopting an export driven economy. Personally speaking, having such an autocratic system will probably not be sustainable in the long run. Winston Churchill once said "It has been said that democracy is the worst form of government except all the others that have been tried" Best regards, ageofsocrates

Hi, Just out of curiosity, does any one have the old BRK meeting notes from the 80s/early 90s. Just wondering as I'm planning to do some research and thought it might be helpful to read those.If anyone has a copy, would it be possible to kindly email a copy (ageofprophet@gmail.com)? Appreciate any help here. Best, ageofsocrates

Personally speaking, think Sanjeev has done a great job with the board. Don't have any problems with the ads.Think it's good way to cover costs Cheers

Hi, I included several links..hope this helps http://www.nightlyinvestmentlinks.com/nightly-value-investment-links-140-berkshire-edition/ http://www.omaha.com/index.php?u_page=1208&u_sid=10622671 Cheers