Parsad

Short article on how some fund managers performed in the 1st half. Cheers! http://blogs.barrons.com/focusonfunds/2011/07/05/first-half-of-2011-proves-humbling-for-paulson-einhorn-ackman/?mod=yahoobarrons

Frankly, I'm put off by any book that has the word "genius", "magic" or "secret" in it, and purports to tell you how easy something is. I've thought that Greenblatt has been supremely magical at marketing his books over the last few years. I do not use, nor follow the magic formula, or anything else that looks like fairy dust! ;D Cheers!

Google has taken share away from everyone. Cheers! http://www.theglobeandmail.com/news/technology/tech-news/googles-browser-tops-20-market-share-report/article2087414/

or just stay as a mutual fund (the mutual fund redemptions gotta hurt, usually occurring just when things are getting cheaper) That's usually how it works. People pull their money when they should be putting more in. Bruce will be proven correct on alot of these things he's bought. Cheers!

Iceland is no longer a pig! Did you mean Ireland? Sorry, yes Ireland! I got my acronym wrong. Cheers!

The "P" and the "G" are junk. Who is next from the PIIGS? Iceland? Cheers! http://www.cnbc.com/id/43643974

Folks, The fact is that due diligence on this company outside of examining the financials and making some phone calls, is out of the realm of the average investor. MW spent probably hundreds of thousands to employ a team to dig for answers. Even then, their answers may be incorrect after spending that much money, since the common practices for legal filings, claims, etc. vary from province to province, city to city, village to village. This is in the too hard pile! There are much easier ways to double your money right here in North America. So everyone let it go, and let's just watch what unfolds. I just want someone to get their come uppance...be it TRE or MW. Cheers!

Folks, Unless the post title is in the format below, I don't want it in the "Investment Ideas" section: "Ticker Symbol" - "Name of Company" That's it! No explanations, no sentences, nothing. Anything else belongs in "General Discussion". The reason being, I want the "Investment Ideas" board to act as a resource library on various companies. By clicking the "Subject" heading on that board, users get all of the companies listed in alphabetical order, with all posts related to each company in there. Anything else just clutters that board and reduces the functionality of it working as a company library. Also, please make sure you are not duplicating an existing company ticker, as I want all posts in that board to remain under the same ticker, so that we don't have fits of discussion on any given company. Thanks very much! Sanjeev

Hope you all have a good holiday! Cheers!

Wellington manages something like $665B, so a $100M position or so in TRE is not much at all. I wouldn't worry about what Wellington does, or anyone else for that matter. I don't like Block's conduct and the way he approaches this stuff, as well as the people who have associated themselves with this whole thing, but unless you can conduct enough of your own due diligence to feel confident in the stock, I wouldn't even consider touching this thing. I do look forward to watching what unfolds. Cheers!

Short, but interesting article on how so many failed banks are from the state of Georgia. Cheers! http://www.theglobeandmail.com/report-on-business/economy/economy-lab/daily-mix/georgia-the-unlikely-epicentre-of-us-bank-closures/article2083513/

Thanks for posting the clarification. It would be sad to see a good man brought down through guilt by association. Problem is that other news sources picked up the article and the insinuation that Berkowitz was also under investigation: http://www.bloomberg.com/news/2011-07-01/st-joe-says-sec-is-investigating-financial-reports-and-chairman-berkowitz.html It's too late! Damage is done. Most news sources won't pick up the correction. You guys think there won't be redemption orders for the Fairholme Fund coming in Tuesday morning? Cheers!

I believe ValueCarl went, so perhaps he can put down some notes about the meeting. Maybe Munger even had something to say about LVLT. Cheers!

No, no...that would be pure speculation! Why does everyone always blame the shorts? ;D Cheers!

In a filing today, JOE has announced that they have terminated their credit agreement which prevented them from buying back shares. Also the SEC is investigating issues related to the impairment of JOE real estate assets. I wonder who made a call to the SEC? Cheers! http://www.sec.gov/Archives/edgar/data/745308/000095012311063723/b87177e8vk.htm

Happy Canada Day Smazz! We've had nothing but rain really in Vancouver. We'll still pull out the barbecue though! ;D Cheers!

What if the shorts had driven Dendreon out of business? They've won coverage of their prostate drug under Medicare. How many lives will be saved? Cheers! http://www.bloomberg.com/news/2011-06-30/dendreon-wins-final-medicare-coverage-decision-on-prostate-cancer-drug.html

Here are a bunch of stories related to Munger's comments from today's presentation. Cheers! http://www.bloomberg.com/news/2011-07-01/berkshire-s-munger-says-wall-street-megalomania-insanity-fueled-bubble.html http://www.bloomberg.com/news/2011-07-01/munger-says-he-hopes-he-dies-before-berkshire-hathaway-pays-out-a-dividend.html http://www.bloomberg.com/news/2011-07-01/munger-praises-wells-fargo-says-bofa-decisions-a-disgrace-.html?cmpid=yhoo http://finance.yahoo.com/news/Berkshires-Munger-stands-rb-2445262105.html?x=0&.v=1 http://www.bloomberg.com/news/2011-07-01/byd-can-recover-from-missteps-munger.html

Long-time Berkshire Hathaway shareholder and former director, Malcolm Chace, passed away. He was there from the beginning with Buffett. Cheers! http://www.bloomberg.com/news/2011-06-30/malcolm-chace-who-watched-buffett-remake-berkshire-dies-at-76.html?cmpid=yhoo

...As Berkshire Takes Wesco Off The Market. Article on Munger's annual presentation to his fans. Cheers! http://www.bloomberg.com/news/2011-06-30/munger-treats-hard-core-addicts-as-berkshire-takes-wesco-off-the-market.html

So it looks like playing Sean Parker in "The Social Network" triggered something in Justin Timberlake. He's part of the group buying MySpace for $35M from News Corp. Cheers! http://finance.yahoo.com/news/Justin-Timberlake-part-of-apf-2481363894.html?x=0&sec=topStories&pos=4&asset=&ccode=

Yes, I forgot about Duncan Ross. You just told me about them recently, and I forgot. Really building quite the small group of value fund managers in Vancouver. And if you consider that Prem's company "Sixty-Two" is registered here as well...also just a few blocks away at a law office...then that is pretty amazing! ;D Not sure why he registered here long ago, but he did. Oh, one last tid-bit. Our attorney who drew up our Canadian Fund documents four years ago, is also the same attorney who drew up the original Cundill Partnership documents 30+ years ago, and he sat on the board in the early years. Small world! Cheers!

Interesting article on Andy Beal, of Beals Bank, and his interests in distressed investments. Cheers! http://www.bloomberg.com/news/2011-06-29/beal-becomes-billionaire-with-fdic-assets-as-he-tops-poker-pros.html

We've got a pretty hardcore group of value investors in Vancouver now...Cundill, McElvaine, Vertex, Odlum Brown, Leith-Wheeler, MPIC! ;D And we are all a few blocks from each other. Here's an article on Murray Leith of Odlum Brown. Cheers! http://www.theglobeandmail.com/globe-investor/investment-ideas/a-stellar-portfolio-with-a-simple-secret-dont-overpay/article2079136/

Never understood this investment, and things aren't looking good. They need to send in Sokol to turn this thing around...oh, wait! ;D They are going to have to do something, as they are losing sales. Cheers! http://www.bloomberg.com/news/2011-06-28/byd-co-reports-84-decline-in-first-quarter-net-income.html