Parsad

agree 100%. even the greatest investors are not automatons. there is no way he would have taken a big stake in this technology company without personal relationships being front and center. I think shareholders have to learn not to separate the CEO from his own soul. Anyone with good conscious, and I'm betting you all expect your CEO's to have good conscious instead of being psychopaths, would agree that sometimes there are battles to be fought that extend beyond the basic role of the CEO. Otherwise why would Prem or Buffett even entertain things like "The Hospital For Sick Children", "Planned Parenthood", "The Gates Foundation", or "The Glide Foundation"? In fact, why even do big shin-dig AGM's like they do? You guys should be treated like Leucadia Shareholders...just an hour of their time every year! Of course personal stances will play a role at times in their investments and behavior. Buffett ran Salomon's because he had to save the investment. This happens and it's nothing new. RIM is a relatively small investment in the grand scheme of things...Salomon's could have taken Berkshire out if Buffett had not stepped in. Cheers!

I don't know about that. I'm as competitive as the next guy, but what does it matter? I'm not out to beat anyone. I simply need to achieve satisfactory, absolute results. Relative results don't support the family. We can all do well, everything being equal. It's not a zero sum game in that respect. If your concentrated portfolio does great, well I can still do just fine too and vice versa. At the end of the day, Mike Burry said it best. Know thyself. If you are the intellectual heir to Buffett and Munger, then by all means follow that road. Hell, if I could, I would. If I could tell which companies would be doing great in 10-20 years that's what I would be doing too. I can't. To me all of "those" companies always seem expensive. Sure, if I could buy AAPL, IBM, DVA, etc at BV, I would toss other things and do so. Absent that, I do what I do. The biggest mistake I think investors make is trying to be someone they aren't. If you are uncertain about things and believe we don't know what we don't know, then perhaps having 5 20% positions isn't the wisest course of action. If on the other hand, you are able to do so, then that's the path you should follow. +1. I run a very concentrated fund, as well as personal portfolio, but I agree that the investor should know thyself. Cheers!

I thought about Covestor actually. If this works well, I'd be open to starting a model portfolio on covestor. Fees collected would be donated. I have no problem with that. I would only have a problem if someone was profiting extensively from it. Cover your costs, and pick a non-profit of your choice. Good idea Ross! Cheers!

Have you tried calling them instead of email? Not yet because who do you call? China? Come on BYD, how about a local number for those of us actually in North America? I'm not kidding, they give you a Chinese phone number for their North American Energy sales: North America-Energy Address:No.3001, Hengping Road, Baolong, Longgang, Shenzhen, 518118, P.R.China Tel: +86-755-8988 8888 | Fax: +86-755-8420 2222 Email: [email protected] Billion dollar company, and they don't even have a U.S. office with receptionist. Sheesh! Cheers!

I have to slightly disagree with Buffett's assessment on who the "ablest CEO in America" is. Bezos is great, but this guy may be one step better! Bezos revolutionized retail...Musk may make the world a better place for your grandchildren. Cheers! This is something I'd agree with 100%. I think because of Musk your great-grandkids may vacation on Mars or even chose to live there. My prediction is that when all is said and done Bezos may be remembered as someone who built an industry, but Musk has the potential to be someone who changes our society at a more fundamental level (transportation, energy, spacefaring, ...) Maybe Prem should give Musk a call on Blackberry. If anyone knows how to save it or turn it around, that guy might! Cheers!

I have to slightly disagree with Buffett's assessment on who the "ablest CEO in America" is. Bezos is great, but this guy may be one step better! Bezos revolutionized retail...Musk may make the world a better place for your grandchildren. Cheers!

This is a real business...very funny Youtube ads! Cheers!

Part 2 of 3 of the ISB talk: Part 3 of 3 of the ISB talk: Cheers!

I dream of a world where we can all take a Kindle into the can. ;D LOL! Free at last, free at last, thank God all mighty we are free at last...from ink on our fingers! Cheers!

Nope, not Prem...Bruce Flatt of Brookfield. Cheers! http://www.cnbc.com/id/100952444

Perhaps, but I would feel a whole lot worse if my local newspaper (The Vancouver Sun) went under, rather than any one of the local cable companies...I really wouldn't blink if the cable company went under, whereas the paper has been a part of my life since I could sit on a toilet and read! ;D Maybe one day I'll walk into the can with a Kindle, but somehow it won't quite be the same. Plus the paper would get recycled right away, whereas the Kindle would have to be disinfected! Cheers!

Ode to the former publisher and owner of The Washington Post by a long-time former employee. Cheers! http://www.washingtonpost.com/opinions/dear-don-graham/2013/08/08/25571e52-ff70-11e2-9a3e-916de805f65d_story.html

Soros has bought into Herbalife and is now pulling his money from Ackman. They are piling onto Ackman now...is this Gotham redux! Cheers! http://finance.yahoo.com/news/soros-fund-withdrawing-money-pershing-013754309.html

No, that would be Guy Spiers. The only guy who talks to me periodically is this bald guy that keeps showing up in my bathroom mirror! I don't know how he knows exactly what time I wake up each day...but he's there...nice chap. Even has a goatee like me! Cheers!

Mohnish gave a presentation at the Indian School of Business Hyderabad earlier in July. Cheers!

Also, don't forget...that section isn't just for people hiring, but for people looking for positions, investment partners, or even extending networks, etc. I've gotten quite a few resumes or requests over the years, and I thought this would be a good place for people to find one another. Cheers!

Hi Folks, Many of you work in the industry or are trying to find a way to become part of the industry. On our new homepage, we have an "Industry / Employment" listings section with free ads. There are a couple on there now, so please feel free to take a look: http://www.cornerofberkshireandfairfax.ca/employment/ If you are looking to put up an ad, please email it to me at [email protected]. Cheers!

I think this is a valid argument, but doesn't this unfairly punish the most loyal partners by constantly worrying about the redemption needs of the least loyal partners? I know there is probably no good way to fix this except to have a long lockup period for the fund. You won't know exactly who the most loyal partners are until the shit hits the fan. Do you really want to find out the answer to that question? We would prefer if it never came to that. We could implement a long lockup, but then that would contradict what everyone signed up for. I don't think we need to do that. We provide something that other partnerships would avoid...simply because it's difficult. Maybe that gives us an edge to cater to a very specific niche...partners that want above average long-term returns, with more consistent results, and still have access to their capital if needed. So far our partners are in the top 1-1.5% of managed funds over the last 7.5 years...that's not bad. Cheers!

+1! +1! Cheers!

Would be a catch 22 for the independents (Samsung, HTC, etc) that are using Android, thus Google's Nexus tablets would get hurt as well. It would be a net benefit to Kindle & iPad sales where there are no independent hardware manufacturers. Cheers!

Actually, the board works for the shareholders, but the management works for the company. You as a shareholder cannot go hire the management, but you can vote and set the board. At the same time, management's compensation often is decided by shareholder's when you have a vote on compensation, so in certain respects, shareholders have some control over management. I think clearly the author doesn't like Friedman. While the assets belong to the corporate entity, cumulatively with their share ownership, the shareholders can decide how the assets are utilized. That may not always be the correct path for the company, but ultimately they control what happens. Cheers!

Yes, quite surprising. Cheers!

Breaking news! He bought just the newspaper assets. Cheers!

So it's not necessarily the overvaluation of the general stock market that prompted Fairfax to hedge, but the possibility of major economic collapse? Both. They needed to protect their statutory capital levels to write business if markets tank, but I think they were also very worried about a major economic event...be it a run on U.S. currency, China real estate crash, Japan going bust, or Europe falling apart. They have no clue what will happen, but I think the odds of something happening were high based on history, and they took an incredibly conservative stance. We'll know if they were overly conservative only in hindsight. Cheers!

Two things you've gotten wrong here. If they had used less leverage, the significant issues they faced during the 7 lean years would not have been as pointed. Second, if they had used less leverage, more of the portfolio would have been in equities like Markel and Berkshire. Why do you think they've decreased leverage from historical levels? Because they've learned that lesson. I just wish they would reduce it a little more. Cheers!