Parsad

Incidentally, if you are booking for dinner at Gorat's or Piccolos during Berkshire weekend, Piccolos is taking reservations now, whereas Gorat's only starts taking them from April 1st. I've got my table booked at Piccolos already! Cheers!

What the..? Is this word of mouth or public record? Public record...all over the place. Cheers! http://www.nypost.com/p/news/regional/item_UtBcMesvG54xzPnzzxoqVJ

I'm going to challenge him to a bike race! Cheers!

I hope Ackman was smart enough to collar his short position, because he's screwed on this one if he didn't. And if he blows up again, what do you think these guys will be doing...sitting in the Hamptons pouring Courvoisier into their Lalique glassware, toking up with Snoop-Dog, and eating Cheetos off of Wedgewood china while their hookers prance around calling them "Papi"! Cheers! Now I understand why you entered the business :) What! Didn't you know that's what happens with these guys? ;D That's what LessthanIV was referring to. The hooker that Spitzer got caught cheating with, used to stay with Chanos in the Hamptons and called him "Uncle". They used to be like Louis Winthorpe and his friend Todd from "Trading Places". Then came the "Gordon Gecko" type...who I believe was Stone's portrayal of Icahn. And now we have this motley crew with neighbours like JayZ and Puff Daddy, and their heroic or satirical portraits in Vanity Fair. Thank God Buffett lives in Omaha and Prem in Toronto! Cheers!

Sorry, at the end of that press release it says: The Icahn Parties have the right to increase the size of their ownership position in Herbalife up to 25% of the outstanding common stock. HLF shares remain halted, pending dissemination. So he's already been granted the right to buy up to 25% or nearly double his stake. Cheers!

I think he's in trouble if he didn't collar this thing when Loeb or Icahn got involved. With Icahn on the board now, nothing but a government investigation is going to hammer the stock. Icahn's going to get permission, or maybe he has already, to increase his stake and it will be granted. This is a personal vendetta now for Icahn, and being the bully that he is, he's going to make Ackman pay through the nose. It may not kill Ackman, but he's going to get hurt financially on this one. Cheers!

I hope Ackman was smart enough to collar his short position, because he's screwed on this one if he didn't. And if he blows up again, what do you think these guys will be doing...sitting in the Hamptons pouring Courvoisier into their Lalique glassware, toking up with Snoop-Dog, and eating Cheetos off of Wedgewood china while their hookers prance around calling them "Papi"! Cheers!

Buffett_Groupie, maybe if you are running late, when you come in, Prem will buy your company from you. Better think of a price! ;D Cheers!

They sure went out of their way to make the whole piece a big ad hominem on Ackman that covers very little else. They are all dicks! I think all of the guys mentioned are completely out of touch with humanity...Ackman, Loeb, Ichan, Hempton...I don't know Adrangi. These guys have egos up the wazu, and they aren't any different than they probably were in high school, except they've got their degrees now, enormous wealth, and for some God-foresaken reason they all live or have homes in the Hamptons. Are the Hampton's douche-central now? Cheers!

Hey Buffett_Groupie, I know you can afford parking! You just show up. Cheers!

Maybe they should sue Einhorn for screaming "fire" in a packed room! Cheers!

We're still small...$6M now. We usually build up the position over a week, and it just keeps increasing as prices fall...we love it when prices fall! We don't add unless the price falls below the last previous buy, and it's a judgement call based on my instincts. Some things are very undervalued, so we go in very hard each buy...like BAC or DELL was. Some things are undervalued, but don't keep falling to distressed levels...like AAPL...so not as hard and we are very patient. A full position is 12-15%, and if it is really, really cheap with a decent margin, we go to 25% of the fund. Nothing in the fund is anywhere near 25% right now, but we have two positions between 12-15%. We are still about 33% cash. Cheers!

Of course it's only because they are releasing loan loss provisions. Because of course when profits are punished due to increased provisioning that's the way it should be. Correct. Remember, they've had spreads tighten on them as well with lower rates, so everything comes around...good and bad. They also have the highest capitalization ratios in decades, so they will be in much better shape to handle changes in the economic cycle. Cheers!

I can't see anything but good news for the banks after the stress tests. I think WFC will increase its dividend again and buy back even more shares. I think BAC will issue at least $7B in dividends and buybacks, while still maintaining the highest Tier 1 Common Equity under Basel III. U.S. Banks will have another record year in 2013. WFC will go over $40 this year, and BAC will go over $15. Cheers!

According to the FDIC, 2nd best year ever for U.S. banks. Cheers! http://www.bloomberg.com/news/2013-02-26/u-s-banks-report-second-best-earnings-ever-in-2012-fdic-says.html?cmpid=yhoo

SD? Yup! Cheers!

Incidentally, you guys are being too hard on Moore. He's premature...that's what she said...I couldn't resist...but not necessarily wrong. When you can't find something, hold cash. When you find something, buy it. We have lots of cash because I couldn't find stuff that I could commit to and liked. But for the last three days, I've been buying alot of one stock...so there you go. Things can change in a hurry in this business...you have to be flexible. Cheers!

One of my favorite lines, from my favorite movie of all time! Notice the quote on my posts. Cheers!

Probably a small server issue and they've rebooted or fixed it. Cheers!

I'm guessing we should start hearing some leaks from the stress test results...maybe even starting the end of this week. BAC hits tangible book very soon! ;D Cheers!

Reminder Folks! Get your tickets purchased for the "Ben Graham 2013 Value Investing Conference" and "Fairfax Financial 8th Annual Shareholder's Dinner". Details are below and tickets are going! Cheers! Wednesday April 10, 2013 Ben Graham Centre's 2013 Value Investing Conference Fairmont Royal York Ballroom Tentatively: 8am-5pm Host: Dr. George Athanassakos, Ben Graham Chair at the Richard Ivey School of Business The value investor panel will include Francis Chou, Tim McElvaine, Robert Robotti and Tom Russo. The morning speaker will be Gary Shilling and the luncheon speaker will be Jeremy Grantham. Complete details for George's event, including conference ticket and registration information, can be found at: http://www.bengrahaminvesting.ca/Outreach/2013_Conference.htm Fairfax Financial 8th Annual Shareholder's Dinner Fairmont Royal York Ballroom 6:30pm-11:00pm Host: Sanjeev Parsad, Founder of "Corner of Berkshire & Fairfax" website 6:30pm - Meet & Greet 7:00pm - Speakers & Dinner 8:30pm - Presentation Guests (from you know where!) We will of course have our usual raffle and silent auction. A wonderful dinner is on the menu, and a cash bar will be open again. Tickets are $150 (including dinner), or $75 (no dinner, water & beverages will be available). Get your tickets soon, as we are going to be running low. Just go to the "Corner of Berkshire & Fairfax" homepage (www.cornerofberkshireandfairfax.ca), and click on the ticket purchase box on the right hand side. All profits from ticket sales, auctions, and raffle will be donated to the "Crohn's & Colitis Foundation of Canada", in memory of Prem Watsa's executive assistant, JoAnn Butler.

LOL! That's funny Alan. Cheers!

That's a million...no, billion dollar question! Maybe Fairfax should have freelanced and hired Preet Brahara to run the suit! ;D At least Prem will probably win in ethical and moral terms, but it would have been nice to bankrupt "Con-hen" and his ilk. Cheers!

Hi Buffett Groupie, You'll have to set up another poll to do that. Geez, you would think an IT guy would figure that out! ;D Cheers!

Hi Farnam, I put it back up. Cheers!