Parsad

Finally, they've got some real ideas coming out of this company. With the recent product sales through Costco et al, and now the possibility of the brand being licensed, maybe the new CEO really is making a difference. Cheers! http://www.bloomberg.com/news/2011-10-12/sears-said-to-seek-agent-to-license-craftsman-diehard-brands.html?cmpid=yhoo

Yup! As big a change as the little, funny, chubby kid from "Stand By Me". Cheers!

Final bid...drumroll please...$20,300.01! Congratulations to the bidder and Dakshana. Cheers!

The Gap will decrease their domestic stores by about 345, while expanding overseas and online. Probably should have done so already. Cheers! http://www.bloomberg.com/news/2011-10-13/gap-will-close-34-of-namesake-u-s-clothing-stores-amid-global-expansion.html

Jeff Cohen, who played the little, funny, chubby kid from "The Goonies", and is now an attorney, wrote a good article on high frequency trading. Cheers! http://www.cnbc.com/id/44875871/

Howard thinks his father will work till he dies, and I'm in that camp as well, but others believe he may retire eventually. Cheers! http://www.bloomberg.com/news/2011-10-13/howard-buffett-affirms-father-s-intention-to-manage-berkshire-until-death.html?cmpid=yhoo

Ron Peltier, CEO of Berkshire subsidiary Home Services of America, sees a housing recovery in late 2012. Cheers! http://www.bloomberg.com/news/2011-10-13/homeservices-peltier-says-housing-recovery-will-begin-next-year.html?cmpid=yhoo

Bid has jumped to $20,100 with an hour left! Keep it going guys. Cheers!

I was wondering why the previous bidder had not bid again, since it was only a $10 difference. Don't worry, you'll have another chance at the Fairfax Financial Shareholder's Dinner next year, as I have one autographed copy left to auction. The proceeds will go to "The Crohn's & Colitis Foundation of Canada" in memory of Prem's assistant, JoAnn Butler. Cheers!

The bid is now at $10,100 with a little under 2 hours to go! Cheers!

The winning bid was $730! http://offer.ebay.ca/ws/eBayISAPI.dll?ViewBids&_trksid=p4340.l2565&rt=nc&item=120788235393 Congratulations to the bidder. You'll really enjoy it. Although, you may not want to actually flip through and read it for that much, but rather store it away! ;D Cheers!

Hi Folks, Fairfax has posted the AGM date on their website. It will be April 12, 2012. http://www.fairfax.ca/Investors/shareholder-information/default.aspx The shareholder's dinner will be on April 11th. I will post details for the dinner in the next few weeks on here, and at that time I'll start taking reservation requests. The dinner will be at the Fairmont Royal York next year, and that will make it easier for the guests to come over for the Q&A. Cheers!

First I was concerned with the housing bubble in the U.S., along with derivatives and counter-party risk. Then later, I was concerned about Europe, but surprisingly, 17 countries trying to come to some consensus has been easier than watching the U.S. congress agree on something. It looks like little by little, Europe may work their way out of this...but it's still very early. Now my fixture is China...slowing giant, hidden loan losses within its banks, enormous disparity between the livelihood of city dwellers and their farming community, uninhabited cities, a housing bubble, a commodity bubble, rising interest rates...there's alot not to like. But they are rich, and they can hide these things for a long-time. They're awfully good at saving face and rich enough to do it for some time...but I think this is going to lead to deflation at some point, as well as the demise of the commodity bubble. Cheers!

C'mon Al! You know that talking heads don't read...they just talk! ;D Cheers!

The capital of Pennsylvannia has filed for bankruptcy protection. I suspect we'll see a few more as time goes by. Property taxes are low and municipal governments that extended themselves will have problems. Cheers! http://money.msn.com/business-news/article.aspx?feed=AP&data-ipsquote-timestamp=20111012&id=14379220

While I'm intrigued by how a manager goes down, I'm far more interested in how they get back up...be it Prem, Mohnish, Tim and now Paulson, Berkowitz & Tilson. I never count anyone out unless they give up and throw in the towel. Cheers!

The Prime Minister and Opposition Party Leader have agreed to meet and get a package approved. Cheers! http://www.theglobeandmail.com/report-on-business/international-news/european/slovak-parties-agree-to-talks-on-approving-euro-zone-rescue-fund/article2197701/

Incidentally, they expect the second vote to go through, as the government had tied themselves to this vote. How stupid can you be? So if we lose the first vote, we will leave office. The opposition simply votes no and gets them booted out. Talk about shooting yourself in the foot! Cheers! http://www.cnbc.com/id/44854607

Maybe a little, but I suspect they will move forward without Slovakia, as they did earlier. It is one of the most ridiculous notions in the world to have a unanimous vote requirement for any law to be enacted by the Euro zone. Only the most idiotic of politicians would have pushed such an idea through when they formed the coalition. One person can stop any progress, but I guess that is how these numbskulls work. Cheers!

Article on Paulson and the possibility of an exodus. Cheers! http://www.reuters.com/article/2011/10/11/us-hedgefunds-paulson-idUSTRE79A67E20111011

You know, how good is the research when you have a team of 85? That 84th analyst and 85th analyst must have been keepers to lose $2M a year on $14M in revenues! I'm sure they were just nailing it. Geez! How the hell do you lose $2M on $14M in revenues unless either your costs are bloated, or you are spending it like Trump! And he's talking about how bad Greece manages their finances. ;D Cheers!

By the way, I always thought the BYD name (Build Your Dreams) was as tacky as they came! There's unusual and then there's worrisome unusual. I always found this to be the latter. Cheers!

Can BYD Electronic shareholders expect all future cash flows to be conscripted to BYD? Is this a harbinger of what BYD shareholders, including Mr Buffett, can expect from the hands of Mr Wang Chuan Fu? Yes, I suspect this is what is going to happen. It is an all or nothing bet on the future of the battery division. I don't think that way, as either you win really big or lose really big...not my game. I would prefer to see buybacks in the electronics division, but I don't think that is the direction the company is going in. Frankly, I never understood this investment in the first place, and I still do not understand it as BYD stock has come crashing down. Not interested! Cheers!

Grant keeps a much lower profile, as do many others. They aren't on tv everyday or writing some new article. Those guys actually have something to say. Cheers!

No, because it's such a good racket. After almost 13 years of a flat S&P500 (I guess the gyrations in between have to be excluded), they've got it as good as ever. Roubini, El Erian, Meredith Whitney, Jim Chanos...the list goes on and on. They've all become rich celebrities from their prognostications, regardless of their batting average or actual return to investors. I miss the days when investors would just go about their business and make money, rather than hold webcasts, conference calls, press releases, powerpoints or television appearances. That's why we don't talk to the press, we don't do interviews, we don't do anything except try and keep a low profile. This is the only place you will see me write anything! Cheers!