Parsad

Seriously, you couldn't be more right! I may have to take up yoga. ;D Cheers!

Not enough people rolling over? Stevie Con could pay them more than they are going to get from the U.S. government! Cheers!

Maybe I missed it some time ago, but it looks like Fairfax has a more complete and updated Wikipedia page now: https://en.wikipedia.org/wiki/Fairfax_Financial Cheers!

They could. So could a number of other people, including shareholders. But the problem now is some of the stuff he's done to entrench himself...licensing agreement, significant pro-management votes through stock held by the company, name change! Cheers!

Thanks everyone! Much appreciated. To my American compatriots...Happy Independence Day...enjoy your BBQ's, fireworks and time with family & friends! Cheers!

Nope...I'll own a hell of a lot more than 1% of the stock! Compensation will be $99,999 annual salary, no options, no stock plan, no bonuses, no director's fees, no car, no jet (fly economy), no Vancouver Club...no Terminal City Club (eat lunch at my desk), and will have an open office (no door). Why $99,999...because I don't think I'm worth as much as Buffett! Cheers!

The supporters will say that he sold BC to BH for $1 and then bought it back for $1.7M...how is that unfair or unethical for BH shareholders? Tomato...tomato! Cheers!

If he spent more of his time and intellect worrying about investments and acquisitions, and less time and intellect about his compensation, I think he would be further ahead long-term at this point...he also would have a rock-solid shareholder base that would have let him run this company forever without ever holding another shareholder vote. Instead, every few months you see another compensation filing, or some other way of entrenching himself. Cheers!

Although there will be regulations around the advertising and increased disclosure. Cheers! http://www.cnbc.com/id/100864030

The world is so much better with the Winklevii in it. They've become like the Kardashians, but with Harvard degrees! Cheers!

--“King Icahn” +1 In most areas of life there are no absolutes, everything is varying shades of gray. But there are some areas where it is all or nothing. If I give you a large glass of drinking water and you see me place a 1/4 teaspoon of raw sewerage into the water, would you find it comforting and be willing to drink it if I told you that it was 99% pure drinking water? No, in this case 1% sewerage is as bad as 100% sewerage. You are not going to drink it. The other things I put in this category are freedom (there is no such thing as part time slavery or being mostly free) and integrity (you can either be trusted or you can’t). This is the reason that even though I made a lot of money investing with Biglari in the past I no longer do so. +1! Cheers!

Looks to me that the only change is that the equity portfolio for BH is now a limited partner in Lion Fund(s), which will have a higher hurdle of 6% compared to other limited partners who have a hurdle of 5%. So he will still get an incentive fee, but slightly less than if the equities were invested directly through BH, but NO CAP! Wholly-owned investments within BH, and equity investments through the LP. He now doesn't need shareholder approval to bypass the cap. Cheers!

What changes were the SEC asking for? Was it that you can't have the company you are trying to control, buy up its own shares with company capital, so that you can increase your voting control? Cheers!

No, I don't think that is it, since the equity investments would still be market to market, and the value would show up in the change in equity. But I do believe that this either has to do with compensation or getting shareholders onside. Cheers!

Article on the tighter rules that will be imposed above Basel III. Cheers! http://www.bloomberg.com/news/2013-07-02/tarullo-says-fed-very-close-to-leverage-ratio-proposal.html

So why wasn't this enacted in the beginning, when all of this controversy first began? Oh wait, this was the original structure, but BC was sold to BH because of perceived conflicts. It's the same thing we would do going forward at MPIC and if we took over a company. He could have probably avoided all of this if he had listened to his colleagues and shareholders. Does BH have any votes they need to pass still? Can't remember if they passed the last shareholder vote, or was the meeting postponed. Cheers!

By the second...what are you a cellphone company? ;D Cheers!

LOL! You should have shopped when we all shopped back in April. Cheers!

Alan, did you or your wife buy anything? Hope you spent a lot! Cheers!

You would be correct on all of these comments. You would also have to admit that the value proposition certainly changed once the company's market capitalization went down below the net cash on the books. I don't dispute that businesses like DELL and BBRY are in for very difficult times from their competition...I just disagree about when an investment can be appealing, regardless of the long-term disaster that may await it. Price is everything and Prem got the price wrong on BBRY. Doesn't mean it isn't a good investment at a certain price. Cheers!

Fairfax is probably further ahead on succession planning than Berkshire was at the same size. Yes, I would imagine that Prem's family and foundation will end up controlling his stock and making sure his wishes are materialized. Andy Barnard is already overseeing the insurance subsidiaries, many of which already have extraordinary managers, and Paul Rivett is overseeing a lot of the investment and operational decisions. You still have all of the old guard available that pretty much grew up with Prem at Gardiner Watson and Confederation Life. They've brought in younger blood...I think they can still do better on this...but they are carefully adding capable people to the bench. It will be one of the deepest around in another few years as they acquire more and more operating businesses. Cheers!

Why do you say Cheers after every post, good news or bad news? Does this news sound like a good news? If Cohen doesn't testify, it is more likely or less likely to get him in jail? I am a bit confused. "Cheers" is just the tagline on the posts I have used since the day I started the board. I think I know better than anyone on here what it means if Cohen testifies or not. Cheers!

I don't own BBRY, but after reading the report yesterday, I'm not sure how anyone can write off BBRY after one quarter's worth of data. They are in tough to be sure, and the outcome is unlikely to be good relative to the competition's size and dominance, but I think you need to look at least a year's worth of data, sales, and development to come to any accurate conclusion about whether this attempt at a turnaround will be successful or not. Those that are always "certain" tend to be oblivious to life's uncertainties! Cheers! 1, This is not unexpected information, we have been watching this stock for years. 2, It is not just this quarters numbers, they have forecast an operating loss for next quarter. 3, They will no longer be releasing subscriber numbers which means those numbers will continue to decline. 4, It is on enough just to look at numbers for a year, it is important to understand what those numbers mean. 5, You can always tell who is "certain" by the amount of predictions they make. 1, Investors have been watching Apple for years, but the last year and a half have not been one of glory...that doesn't mean Apple is finished. 2, They've pretty much scrapped much of the business plan for the past decade, and gone in a completely different direction...it's reasonable to assume that they will go through quarters of losses? 3, Probably because they are trying to focus on the longer term, not quarter by quarter. 4, I doubt if Apple's business plan in the first year Jobs took over the 2nd time around was anything but painful...look what happened there. 5, You are most correct here, and there have been more than enough predictions by pretty much everyone...the Apple thread is pretty much indicative of that! As I mentioned earlier, I don't own BBRY and do own APPL. But any supposition from a quarter's worth of numbers smack of hubris. Cheers!

I don't own BBRY, but after reading the report yesterday, I'm not sure how anyone can write off BBRY after one quarter's worth of data. They are in tough to be sure, and the outcome is unlikely to be good relative to the competition's size and dominance, but I think you need to look at least a year's worth of data, sales, and development to come to any accurate conclusion about whether this attempt at a turnaround will be successful or not. Those that are always "certain" tend to be oblivious to life's uncertainties! Cheers!

According to Bloomberg, Steve Cohen has invoked his "Fifth Amendment Rights" so he does not have to testify in front of a grand jury. Cheers! http://www.bloomberg.com/news/2013-06-28/cohen-silent-as-sac-executives-called-before-grand-jury.html