adesigar

Semi Annual Report is out http://www.fairholmefundsinc.com/Letters/Funds2016SemiAnnualLetter.pdf

And there I believe is the problem. I would any day prefer Clinton over Trump. I absolutely agree with Buffett on Trump and I'm fine with the Trump and Clinton bashing. BUT everyone here bashing Trump voters needs to think about who is voting for Clinton vs Who is voting for Trump and Why. Its easy to look at statistics and say people are living better. But remember when someone like Buffett compares how people are living they compare across generations and how the parents lived. When the average person compares he compares against the last few years and he compares himself to the others in the city/state/country. There are a lot of places in the U.S that haven't recovered. The country is moving to a service economy and left the manufacturing states behind. Just because the stock market is up doesn't mean people are living better than before the 2008 crash. When people are living paycheck to paycheck or living in debt or about to lose their home, job etc They really don't care about foreign policy(Ukraine/Europe/Asia) etc. They are angry at being left behind. They watched Wall Street rob them and not a single person went to jail for it while their communities got destroyed and they got ignored in the recovery. Its easy to judge the Trump Voters but we haven't lived in their shoes the last few years.

Which is the better university for the specific subjects you would like to study? Will you continue there for a Masters? Also if the more expensive one is better, then how much better? Is it worth the additional cost? Will language be an issue? What about work after your degree? Which will provide you with the network to get a job where you want to work? It might help to think about where you want to be after the Bachelors/Masters and work your way back to making the choice.

None of the above. But if I had to decide between one of the 3 it would be Scenario 3. You cant change the price you paid later but you can refinance.

IO ? A few days ago I checked if Brexit had cause rates to drop enough for me to refinance. Costco Mortgage Services showed me 3.375 for a 30 year fixed. Wells Fargo shows 3.375 for 30 year Jumbo which is lower than the rate for conforming. https://www.wellsfargo.com/mortgage/rates/

You could maybe try the poster print option. https://helpx.adobe.com/acrobat/kb/print-posters-banners-acrobat-reader.html You can scale the document so it prints one PDF page on 2 landscape paper pages which is about 30% larger size. Not sure if that's enough. More than that and it will be printed on 4 pages. Alternatively instead of using the PDFs you can get the .HTM of the 10K from the SEC site and scale that.

Well, all those people wanting to cut back on the 2nd Amendment rights & gun control probably have not had the experience of a home invasion, thefts of vehicles, etc. They probably also have not had to deal with AGGRESSIVELY incompetent police too! I wonder what the response of gun control people would be if they knew the police won't do anything? When they learn they aren't even INTERESTED in doing anything! I guess in their fantasy "la-la land" people don't have the right to protect themselves & their property when society & police start falling apart. I just hope things don't get worse. I & my father lived in Detroit in the 70's & 80's. I've seen REALLY bad times, I hope they don't come back... The police in some of these areas are busy dealing with the nuts and criminals running around with guns. I know some people think personal property like cars and wheels are sooooo much more important than other peoples lives.

+1

Silly Germans. I know someone who did precisely that. Missed exit on the freeway so backed up and took the exit.

Number seven!

I'm invested in SHLD and LUK.

They did a LOT more to help Pakistan during this Links to documents of Nixon and Kissinger. https://history.state.gov/historicaldocuments/frus1969-76v11/d216 http://2001-2009.state.gov/r/pa/ho/frus/nixon/e7/48542.htm http://2001-2009.state.gov/r/pa/ho/frus/nixon/e7/48542.htm

This was recorded before the shooting happened. Lets hear the Republicans and Libertarians excuse for why a potential terrorist can be put on a no fly list but is free to buy all the weapons and ammo he wants.

Trump + Sanders ?

That's the libertarian point of view on just about everything. They care about 3 people me, myself and I.

Kind of. Owning KO doesn't make them hypocritical. Owning KO and saying, "well the problems it causes customers are totally their fault and not ours, therefore don't blame us!", is hypocritical when they know full well they are enabling those customers using a variety of means. Why all this argument about Coke. Its simple Buffett and Munger are wrong. Buffett/Munger wont say anything negative about a company BRK is invested in. I personally think KO is a blind spot for Buffett. Its why he didn't sell it 18 years ago and its also why he wont come out against KO executive compensation(If KO is a company any moron could run why does management need so much compensation) and now this defense of sugary drinks.

Not a good idea to justify killing innocent people by shifting responsibility. If you want to look back on why specific actions were necessary you shouldn't stop at step 1. Trace it all the way back. You might not like what you find.

Beware of Geeks bearing Formulas. --- Warren Buffett.

Personally I don't think mortgage deduction is fair. I don't want renters to be able to deduct rent either. I just think to make it fair the mortgage deduction should go away.

Nice going calling the only ones here that aren't thieves and believe in freedom trolls. Americans should really try to read their own constitution. Would do wonders. Start a new thread for discussing your libertarian crap. I might even join in to point out how dumb it is. Stop polluting and trolling other threads with it. This is not the first or even the 10th thread that libertarians have taken off track.

Ok back on topic to Donald Trump Donald Trump is saying and doing what he feels is necessary to get the republican nomination. He has been successful at getting the delegates and also at getting record turnouts for the Caucus. I would wait to see if/how his tone changes if he gets confirmed as the republican nominee at the Brokered Convention.

Stop feeding the dumb libertarian trolls.

Over those 25 years (using year-end dates not peak), your annualized return was 7%! Do you have the dataset for this? I find this quite useful http://dqydj.net/sp-500-return-calculator/ Vinod Using Vinod's website, the returns from Sept 1929 (the peak) to Sep 1954 were 5.8% with dividends reinvested - though, the majority of that return comes in the late 40s and early 50s as nominal compounded returns including reinvested dividend were actually negative through 1944. It was only the 10 year equity bull market that averaged 16% per year from 1944-1954 that saved your compounded returns over the full 25 year period. Prem's point isn't that you should've stayed out of the market for the full 25 years as much as it was that most people don't really have a 15 year time horizon to break even on a nominal basis (and even longer on an inflation adjusted basis). Especially an insurance company that is required to use it's investment portfolio as capital to support insurance operations. The drop in capital also means a drop in underwriting volumes/profits - a double whammy to the bottom line. Prem's concern is the 90% drop and the subsequent 15-20 years to get back to even and all of the lost opportunity cost not just from investment portfolio losses but also from reduced insurance underwriting. If he can avoid just half of that 50% loss, it makes a massive difference over the following 15-20 year period. To the detractors credit - it has only cost shareholders money for the last 6 years and the opportunity cost has been large just about anyway you measure it. To Prem's credit, just about everything he was concerned about is currently happening, but equity markets have shrugged it off to date. Maybe we'll continue to climb the wall of worry and Prem will eventually throw in the towel. Or maybe Prem will continue being right until equity markets can no longer ignore his warnings and those losses reverse. Only time will tell. Isnt the comparison starting from the 1929 peak dumb? Shouldn't Prem be comparing from the time he went bearish and include the lost opportunity cost of the last few years? So maybe a better comparison would be start a few years before the Peak of 1929. Say start in 1924 or 1925. Also maybe include adjustments for a World War since we don't seem to be getting them every 25 year period.

Is this question for real? Is it really on the Corner of Berkshire and Fairfax Board? Seriously though. I don't think you are asking the right group of people.

Bad Years for Value investors are good. That's usually a good time time to buy those funds.