Parsad

Having lived thru' the Yahoo:FFH msg board (2002-03) and (2005-06), the short cabal is no conspiracy theory. I have personally locked horns with some of the posters(not unlike Sanjeev) executing the attack on FFH. There was near perfect correlation between the rumour mongering, extreme short interest and a depressed FFH stock price. It turned out well for us as we bought and held on to the stock but it took FFH lawsuit to stop all of this. They were not going to stop otherwise. Although I've not owned other stocks which were short attacked to oblivion, the central question that deepcapture poses is what gives these hedgies the hellish right to do this? Byrne and deepcapture have been ignored, made to look like idiots in the public eye but it turns out that just about everything they alleged is turning out to be true! No, this is no bedtime story at all, it is a shame it took 10 plus years to get to this point. More people would be sleeping well without reading bedtime books had the regulators acted sooner on the deepcapture expose! Byrne is a hero. Prem has too much class to put an ad out like that, but I'm glad Patrick doesn't! ;D Especially after all the shit that they went through (1/3rd their own doing, 2/3rds the miscreants). In Patrick's case, because he was so vocal about it, they made him out to be a complete idiot. Remember, this is a man who was so adamant that SAC was corrupt, that he got into an argument with his own father because he thought he was doing the right thing. Perhaps a little misguided, as the business suffered because of the crusade, but true to form, he was fighting a much bigger fight like he always has his whole life. Almost everything he's said...from the effects of naked short-selling to the corruption in the financial industry and co-opted journalists, analysts and portfolio managers has come true. I remember watching CNBC about three years back, and that idiot Joe Kernen, along with David Faber and sweathog Herb Greenberg, were doing a hatchet job on Byrne and Overstock. I remember Kernen and Faber's actual comments..."Is Byrne even relevant anymore...is he still around? Is Overstock.com around? I think they're finished." They were pissed off because Byrne had said that there was a fax machine at CNBC head office that receives faxes directly from Cohen. Who would have believed it then, and who wouldn't believe it today after the attorney general has put a bounty on SAC's head! Byrne doesn't always have the right delivery, nor is he the greatest orator of all time, but the man puts his neck on the line for a fight, and I couldn't agree more with longinvestor...Byrne is a hero today...a crazy ass hero who knows no bounds, but a hero nonetheless! Cheers!

Thanks G2! I don't know Kuppy, but I've known Jordan for about 8 years...he is a good guy. Lots of potential in what they are doing, but a fair amount of risk, as Mongolia goes the way China goes. If China continues to thrive for the next 20 years, Mongolia will pan out like they expect. Although, I suspect we may see a short-term hiccup on the way to China's rise. I have not had any faith in China's finances for years, and I'm not about to start now. I think everything was built on easy credit, and the bubble is enormous. They are rich enough to float the bubble for a while, but at some point the easy credit will stop and so will the music. You are seeing pains on the developer side. That's where the bubble bursting impacts first. Then you start to see liquidity dry up as the easy credit slows, while debt ratios remain high. Finally, the off-balance sheet liabilities start to appear...who owes who money, and exactly how levered were they. Then it hits the corporations, and finally the consumer. We are still early...liquidity is drying up, credit is tightening, while the government tries to loosen the purse strings to create a soft landing. Hard to create a soft landing when you were flying at 20,000 feet and the plane is dropping like a rock. We'll see what happens, but I suspect the U.S. is going to have to keep the global economy alive as others falter...and exactly how that happens when the tap turns off is beyond me! Cheers!

Incidentally, there is a whole host of others that need to be taken down as well...including a well-known short-seller who made certain proclamations at the very first Value Investing Conference (the reason I will never attend one again in my life) and another well-known "value manager" who were part of the cabal against Fairfax. Not to mention the Three Stooges (A, C & W)...you can guess by the last name initials, who endlessly barraged OSTK with negative articles and attacks. Miscreants one and all who should join Cohen on the funeral pyre! Cheers!

I read this yesterday. Sad and stupid! Cheers!

I'm taking the higher road like Prem, but I'm screaming with laughter inside! Nice one Patrick. Cheers!

We're all cheering on the inside! We'd be cheering on the outside if the government would somehow seize all of his assets. This guy will just become another Milken when he gets out. Do your time and then come out and show the world what a great guy you are, while the snake oil salesmen personality is never too far away. Same thing with Sam Antar. How many people at the SEC listen to him? Yet this is one carnivorous bastard who keeps plugging along embracing his convicted felon moniker. How about fan favorite Jim Cramer, who somehow shaped himself into the Louis C. K. of business! These assholes always come out on top, unless you take away their money and influence. The government doesn't seem to ever go far enough! Cheers! Why should the government take the money? It wasn't the government these people got their money from. Why is it not possible for these people to be sued into the poorhouse by their victims? Hi Rkbabang, I wasn't stipulating who should get it, only that it doesn't remain in the crook's hands. I'm more than happy to see it return to those that were hurt. Cheers!

These guy's have a good idea, but I've never understood what their plan is. All I know is that they are trying to capitalize on Mongolia's growth...the rest has been a bit haphazard. I suspect the losses from the insurance business are obscuring the results from the real estate business. Insurance is not easy from both a statistical and marketing perspective, and probably even more difficult in a region where no one has really ever bought it before and has no historical record of insurance losses. Lastly, if China slows...what happens to that real estate portfolio if prices fall drastically? Smart guys, so I'm sure they have already thought these things through. From a management point of view, I would also suggest that Kuppy write just quarterly or semi-annually. Too much information for investors and shareholders, so it looks like they are constantly changing strategies in a very short period of time. Run the company, make money, build equity and then worry about providing updates. I have to give them all the praise in the world for their compensation structure though. Kuppy and Jordan get paid nothing, and director's fees, etc are all well under their peers. Good luck to them in the new frontier! Cheers!

I take it back! Maybe Preet Bharara is different than what we've seen in the past. He's going after any and all SAC assets, including Cohen's! I'm cheering both on the inside and outside now T-bone! Cheers! http://www.cnbc.com/id/100915672

We're all cheering on the inside! We'd be cheering on the outside if the government would somehow seize all of his assets. This guy will just become another Milken when he gets out. Do your time and then come out and show the world what a great guy you are, while the snake oil salesmen personality is never too far away. Same thing with Sam Antar. How many people at the SEC listen to him? Yet this is one carnivorous bastard who keeps plugging along embracing his convicted felon moniker. How about fan favorite Jim Cramer, who somehow shaped himself into the Louis C. K. of business! These assholes always come out on top, unless you take away their money and influence. The government doesn't seem to ever go far enough! Cheers!

Links guys! Copyrighted stuff will be deleted if I see it. Cheers!

Coincidence? I think not! Paul was on the front lines with the whole short attack and ensuing lawsuit. The best story I have about all of that was I received a subpoena from Fairfax's attorney, Kasowitz Benson, because I had bought the www.premwatsa.com domain name when it became available. Kasowitz Benson thought that it was still under the control of whichever hedgie had put up that attack website. I had to call Paul up and say, I bought the domain name when it became available, so that no one could put up another website...but that they could have the domain name if they wanted. He said, "Oh geez sorry, I'll take care of it!" And that was that...no more subpoena and the beginning of a friendship...plus I got to keep the domain name! Cheers!

Congratulations to Paul on becoming President of Fairfax! I've had the pleasure of dealing with Paul on numerous occasions, including our annual dinners, and he's a terrific, passionate, talented individual who loves his job and Fairfax! Great choice! Cheers! http://www.fairfax.ca/news/press-releases/press-release-details/2013/Fairfax-Financial-Holdings-Limited-Executive-Announcement/default.aspx

Eric you need to write a book or start your own show. Too much great information! Cheers!

No, unfortunately not this time. If I had held all of my OSTK from a year ago, not including the options, I would have made 7 times my money...and it was a big position. Unfortunately, we average in and we average out. And we were out in the very high 20's...with an average out much lower in the high teens...our cost was just under $6, so I'm not crying. And then there were those options! ;D I'm happy for Patrick, Jonathan and everyone who works, supports or has shares in Overstock.com. It's been a tough road, not unlike Fairfax's "seven lean years". Today "Tinfoil hat Byrne" is worth a huge fortune again, many of his critics have been weeded out as frauds, hucksters, shills or even worse, and his company is consistently making profits which almost everyone doubted would ever happen! One noted coincidence between Fairfax's revival and Overstock's triumphant return...both occurred within a couple of years of Sam Mitchell joining their boards! May be a coincidence or may be something else...take it whichever way you want! Cheers!

I got a kick out of the same thing. Was thinking the owner doesn't give the jockey a whip so the jockey can turnarouond and beat him with it. LOL! Unfortunately, ever since the 80's, it's been all about the star manager/executive...no more serving the client, but the client serving the manager/executive. "I'm the jockey...I'm the star"...and it isn't just this guy...they all pop up on CNBC, Bloomberg, and pretty much everywhere else! Where the f**k has humility gone in this business? When Hollywood celebrities are showing more humility than money managers, you know something is upside down in the industry. Cheers!

I'm assuming most of that $335M is coming from Biglari Holdings transfer of their investment portfolio. Also this quote was kind of funny: “Biglari is a jockey stock,” he wrote in his 2011 letter to investors. “You are choosing the jockey; I am choosing the horses. It would be asinine to bet on a jockey and then deny him the saddle or whip.” I guess he doesn't know much about the horse racing business. The OWNERS pick the jockey and tell him which horse he is going to ride, not the other way around. Cheers!

They won't say bad things...they just pull their money every time they get nervous! ;D Cheers!

We were going to Chicago this year, but if you have the Tesla, we will switch and come to LA! Cheers!

Too flashy...you have to be a LEAP's and margin guy to really drive one of them! Just like the founder! ;D I'm too cheap as well. I follow Buffett's philosophy...I don't want to own a yacht, but I have plenty of friends who have one if I want to go for a ride. Cheers!

You bloody bandit! I just talked to you a few days ago, and you didn't tell me you bought one. Don't fly to the LA Pabrai Funds AGM...drive, and then you can take me for a ride in it. I'll come to the LA meeting if you bring it up this year. Cheers!

What color did you pick Eric? And the interior? Very nice car! Cheers! It is silver metallic paint with tan interior. All Glass panoramic roof. I chose the fastest one (performance edition) and added the "performance plus" package. As for the rest of the options, I checked all of the boxes ;D Nice! So on the top of the line "performance plus" package, how many miles will you get before charging? About 275-300 miles? Cheers! It won't be 300 miles. That's for 55 miles per hour ;) They have an app for estimating mileage with different speeds and road conditions: http://www.teslamotors.com/goelectric#range Just scroll down on that linked page until you see the white car with the turning wheels. You can adjust the settings and it will simulate the range. 245 mile range on the highway at 65 MPH 352 mile range on the highway at 45 MPH 292 mile range in the city If they could get that to 400 miles at 65MPH, that would be something. I think you would start to see a lot of luxury car owners switching to a Tesla, because price-wise it is already competitive with high-end Mercedes and BMW's. Enjoy your ride! Your license plate should say "FFH BAC"! Cheers!

What color did you pick Eric? And the interior? Very nice car! Cheers! It is silver metallic paint with tan interior. All Glass panoramic roof. I chose the fastest one (performance edition) and added the "performance plus" package. As for the rest of the options, I checked all of the boxes ;D Nice! So on the top of the line "performance plus" package, how many miles will you get before charging? About 275-300 miles? Cheers!

What color did you pick Eric? And the interior? Very nice car! Cheers!

LOL. I had a friend, Anthony, who got me interested in UFC fighting. So, knowing the old me, you know I had to read all about fighting and techniques. BJ Penn used to destroy everyone in his prime. Keep a watch. More treasures coming. (Marvel?) I'm not a big UFC fan...I'm a boxing fan. But I did watch a very good movie called "Warrior" last night, which did have a lot of UFC elements in it. Really a great movie...more back to the old school original "Rocky" quality...great actors who did all of their own fighting. Nick Nolte played the father of the two main characters, and he was amazing! Cheers!

They are paying up, but they are getting a great brand and chain, which will make them the largest pharmacy across Canada. Loblaws needs to continue to get bigger to maintain their market share. Now let's see who throws an offer out to Jimmy Pattison for Save-on-Foods! Cheers!