Parsad

They are going to be in tough in Vancouver, unless they make it more like a boutique or something. You've got big chains like Mountain Equipment Coop and Sport Chek to compete with in BC. Who really know their stuff and carry broad assortments of gear, equipment and clothing. Then you have all of the specialty stores in BC. It's very, very competitive! The prices I saw in Toronto would not work here in Vancouver, unless they were selling through a high-end boutique type of store on Robson where mainly tourists would be buying, or in West Vancouver or Whiterock, where there is less competition and per capita income is high. Cheers!

If you are happy you received the letter, who cares? Cheers!

Because it's a cash cow and I had secured the most valuable asset of the company in my agreement at a fraction of its cost. The cash was not used properly and they did not have board members (or at least enough) that were business operators. But the business makes money hand over foot with economics that should keep it that way for a long time! Cheers!

One of the better articles the Globe & Mail has written on Fairfax in many years. Cheers!

Nope, nope, nope! Is this about a single title? If not, it belongs in the "General Discussion" board. Don't worry, I'll move it! ;D Cheers!

Whew it's hot here! Nice dry heat though. Cheers!

While the compensation is large compared to his fund...which was a very small fund...based on the size of the company and the scope of the change he's having to undertake to save it, the compensation is low...just like Sardar's was until the turnaround was complete. If Gad gives himself a fat check or starts to take a percentage of intrinsic value, then I'll be happy to criticize him...the reason we tried to take a substantial piece of ownership, but unfortunately could not because of a poison pill in place by previous management. I did not want to get screwed over again on name changes, compensation, voting structure, etc like I was as a former Steak'n Shake shareholder because one of the executives is paranoid of losing control. Cheers!

While SED is creating havoc and more disclosure is naturally desirable, I'm at least pleased the name of the company isn't "Paragon by Gad" or that he's mounting a huge change in the compensation package! Give the guy credit for getting his hands dirty without expecting the world to fall at his feet. He also hasn't told shareholders that the stock may be wrong for you if you don't agree with him. If he manages to turn SED around and save this thing, and naturally I'm still betting that he can, then it would probably be one hell of a story! Cheers!

Yeah, I flipped out during a board meeting today. Just couldn't believe what people were thinking when it comes to running a business. Nothing properly documented, yet no way anyone was going to challenge the right to company perks! I don't know how Buffett sat in meetings and simply abstained from voting on compensation packages he didn't agree with. Maybe he just got tired of arguing. I explained that my job as an independent director, a fiduciary for shareholders, lies at the opposite pole from the executive and his perks. My responsibility is that every dollar spent, be it on salaries or operations, is spent in the most fiscally restrained way possible. Without contracts saying we owe these "perks", they were going to get cut. Crazy how many companies start doling these things out on verbally-intended or pseudo-acknowledged approvals. Yet no backup! Cheers!

Normally empathy takes care of this kind of thing. Someone does something for you, you have the feeling you need to do something back. But people with narcicism dont have that impulse because they lack empathy. They are wired differently. True! But here's the rub. The three examples I gave, in all three cases, the executive made enormous sacrifices for the company at some point and saved it...or in GE's case, restored it! But because of this...the possibility they could have nothing if things went the other way...the company becomes their own little fiefdom. What is the differentiator that decides someone like a Buffett (Solomon's) or Watsa (Fairfax) or Sinegal (Costco) avoids that type of emotional entitlement, while others suddenly feel their worth has somehow increased to 20% of the company's intrinsic value? Why is Mohnish now going to work for peanuts at Dhandho, while the executive I had to deal with today couldn't comprehend why a distressed company couldn't afford to pay his yacht club fees? For all intents and purposes, both men are intelligent, reasonable and in their own ways successful over their careers. If you met both, you would naturally assume Mohnish was the loud, brash, narcissist, before getting to know him...just his cars and gaudy personalized plates would make you think that! ;D While the other executive would come off as humble, quiet and personable. Yet, the finest indicator of humility would be in their compensation expectations at their respective entities...complete opposites! Very strange how people behave. Cheers!

What makes someone perceive their sense of worth being far superior to another? Or that their compensation and benefits justify being completely out of line with common sense and simple decency? I found whether you are the a large corporate juggernaut like Jack Welch, a Buffett wannabee like Biglari, or even a executive of a small microcap company, your sense of normal becomes incredibly warped! Just joined the board of a company we've invested in, and I'm having to tear apart compensation packages and draw up new agreements for everyone. Amazing what people think "adequate" or "reasonable" are even at a very small company...a lease less than $1,000 per month is unfathomable...a Hyundai...are you kidding me?! Even more surprising is the reaction from other executives and directors, who aren't nearly as nauseated because the collegial atmosphere of a board numbs objectivity. But it's amazing what people will excuse. You see it here all the time with Biglari Holdings. Successive attempts to thwart "no" votes to a compensation plan, meant that that you find another way to attain the desired compensation plan. Buffett and Munger acolytes barely show scorn to such behavior, as long as their own pockets are as deliciously lined in gold, and the paraphrasing of Buffett sounds accurate! Contemptuous behavior, but becoming the norm even in such enlightened circles. Very disappointing! Means that trying to rationalize with boards and executives over this is only going to get tougher. Cheers!

Once again, the board members at Corner of Berkshire & Fairfax dig deep when it counts! I blew through my goal of $2,000 raised in this year's Crohn's & Colitis Canada's "Gutsy Walk", and finished at $2,943. The Surrey Gutsy Walk, which I participated in, raised a total of $60,800 this year. Thanks very much for your support folks! Cheers!

The TENTATIVE date is now: Wednesday, July 16, 2014 at 10:00am 949 East 2nd St., LA From an anonymous, but reliable and informed source! ;D Cheers!

Typical, glossy article that Money does. More commentary and anecdotes than anything about the "intellectual framework" he uses to make decisions. Cheers!

Probably this guy: http://sg.linkedin.com/pub/andy-chua/13/a69/3b Cheers!

I disagree. Everything I have read suggests that high quality .com sale prices are higher than ever. So it could be a bubble but it's not a slump. There is very minimal demand for any of the new TLDs, or anything other than .com. http://w3techs.com/technologies/overview/top_level_domain/all Buying the right domain name can easily be the most critical part of a business' marketing spending. It doesn't make sense to go cheap / risky instead of getting the name you really want. You have to be ahead of trends or ideas, and then capitalize on names or terms that may be of value in the future. You can make money from it, but you have to be on top of it all of the time, probably hold hundreds of names at any given time, and pay the annual renewals for them until one or two hit it relatively big. Also, the name poaching rules are tighter now. If a person or business can establish that you are sitting on their rightful domain name, they can argue that in court often and get the domain from you, or even hold you liable and seek compensation. Cheers!

There was a very detailed thread on this subject not too long ago...maybe six months. Might be useful! Cheers!

Ok everyone, we're on the home stretch...$1,946 online...I've raised some more cash on the side from friends and family, so we are past $2,000. I would like to blow through $2,500. You guys were flying on all cylinders last week, and then the engine shut down. C'mon one last push for Crohn's & Colitis Canada! Cheers! http://crohnsandcolitiscanada.akaraisin.com/pledge/Participant/Home.aspx?seid=8155&mid=9&pid=1686115

Even in a pure free market, what services or goods can a baby or a senior with dementia offer? Society has to decide exactly what level of safety nets they need to provide those in the least competitive positions. Once you do this, you have special interests who twist and bend things, and then you get the corporate/free market cronies trying to level the playing field. A free market can never be completely free, but you can get it as free as possible depending on what that society desires. Cheers!

FBI and the SEC are investigating Phil Mickelson, Carl Icahn and Las Vegas gambler William Walters. Cheers! http://finance.yahoo.com/news/u-investigating-icahn-mickelson-possible-000330919.html

My biggest mistake was only reading book 1) and then nothing for 5 years. Without 2) i would have never read 3). Yes, I can see how that would be a very big mistake! ;D Cheers!

1) Buffett's Letters 2) The Intelligent Investor 3) Of Permanent Value 4) Margin of Safety 5) Security Analysis If you don't include Buffett's Letters, then "Think & Grow Rich" would be on that list. Cheers!

Although, if Gates had bought the team with Ballmer, I certainly think fans would have loved videos like this before games. Incidentally, I think it works because of Gates...he's got a pretty good sense of comedic timing ever since he started hanging out with Buffett. Cheers!

True, but it's the highest price ever paid for an NBA team...it can't be a good deal. With multiple bids well in excess of what most people thought it would go for, Sterling is making a killing. I believe the original estimate just a month ago was that he MIGHT get $1.2B. $2B blows through that number! Heck, Ballmer could have bought Beats for a little more and actually made regular profits, while working out a deal with MSFT to sell the headphones. ;D Cheers!

It seems as though a few board members need refreshers on how to use the "Investment Ideas" board. Please read this thread: http://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/investment-ideas-board/ So, "Ticker (listed exchange if necessary) - Name of equity". Arbitrary, broad discussions about strategy, currencies or non-specific investment ideas belong in the "General Discussion" or "Strategies" sections. The "Investment Ideas" section is to work as a library or resource, where it is easy to find a specific equity through its ticker. Cheers!