Parsad

To 12 states so far. Cheers! http://finance.yahoo.com/news/got-sauvignon-amazon-com-starts-154703077.html;_ylt=AkLG7goDrLZ0A537KldMqf6iuYdG;_ylu=X3oDMTRwNHMza2hkBG1pdANGaW5hbmNlIEZQIFRvcCBTdG9yaWVzIG1peGVkIGxpc3QEcGtnAzliMjA5NDJjLWFkODYtMzI0ZC1hODNhLTA4MDQ3MTBhNDBkNQRwb3MDMQRzZWMDTWVkaWFCTGlzdE1peGVkTFBDQVRlbXAEdmVyA2IwMWVhZTAwLTI5YmItMTFlMi1iZjlmLWFmZjcwYmQwNzAyOQ--;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

As suggested by finetrader. Commodities (and the worst one like ATPG and I sold OSTK for this crap) And VXX Doh! Alertmeipp...after everything we've been through, you sold OSTK? Don't worry, we all have rough years, but it's a marathon, not a sprint...except for Ericopoly who will be out of the game in 2015! Cheers!

What a friggin' joke! He's one of the speakers at the Spring VIC in Vegas. That distaste from listening to Chanos and Herb Greenberg at the first VIC call Fairfax a fraud, just came back...I've never attended since, and never will. Cheers!

A chip off the old block! I agree...Munger is probably very proud. Cheers!

YES I would.. irregardless of what class of asset it is.. 15% after that many years is tremendous I guess you wouldn't include Walter Schloss as a 'superinvestor' then even though Buffett calls him one It's not the return achieved but the combination of return resulting from individual efforts to obtain that return. Schloss is clearly a superinvestor. It's by virtue of the fact that he selected various securities to achieve that return. Someone invested in his fund or an index fund is not a superinvestor. By your definition, hiring an architect and contractor who build a beautiful home makes one a great homebuilder as well. Or, by choosing a good fantasy football team makes one a great football player. So, if someone works 100 hours a week vs 1 hour per month, yet have the same returns - the 100 hour per week guy is more super than the other? Now, if the 100 hour per week guy is a lot "less risky" whatever that means, then, yeah, I can buy that, but not just returns and work ethic combined. By the way, Buffett called guys that were "superinvestors" did not beat an index by a couple points. These guys crushed it. You should beat it by at least 5% to be "super". anything else is good or great, etc. What is average, good and great to you guys??? This doesn't look too super. :P http://quote.morningstar.com/fund/f.aspx?t=CMAFX That's exactly what I said above Paul: If you beat the market long-term by 3% annually, especially if you run a fund because you have a significant amount of limitations (redemptions, investment limits, client concerns, frictional costs, regulatory hurdles, etc), then you would be considered in the great category of investment managers...as only about 2% of fund managers get in that category! If you beat it by more than that, then you could be considered in the superinvestor category. Schloss and Van Den Berg are both superinvestors. Cheers! In terms of working 100 hours versus 1 hour. If you go to the dentist and get your tooth pulled out in one hour, does that suggest you should be pulling teeth versus the guy who has worked at it for thousands, if not tens of thousands of hours? The argument just doesn't jive. I'm the first to criticize how awful the investment industry is, but I have to tell you that there are plenty of clients who haven't got a clue what it takes to be a good investor, after being on both sides of the coin. Some of the finer details of the traits of these types of clients: - If you aren't beating the market every year by five percent, they ask you what is wrong with you? - They pull money right at the bottom almost every time! - They ALWAYS second guess your decisions...cannot emphasize enough! - They don't realize the difference between looking after personal capital (no restrictions, totally temperament based, captive capital) and public capital (redemptions - not captive, restrictions, multiple-temperaments). - We cannot make mistakes, but the destruction of their own wealth can be without precedent! That being said, I love the business. I love what I do. And I'm more than happy to put up with the gripes, since we are serving them...but the irony in client behavior is quite perverse...and in the general investing public too, including those on here that manage their own personal capital! Cheers! Ah, I didn't read enough into your definitions there. My bad. You bring up some valid points with regulation, client redemptions, etc. So, you guys think that Buffett, who coined the term, would consider this guy along the lines of his crew? Most of the guys he was talking about were at 10%+ vs the index. Personally, I think we throw the term around too much. "Superinvestor" should be something special. I'm too passionate about this stuff, I think. haha I would argue that if you are working a ton and you didn't beat the market by a really good amount (say 5%), you are the opposite of a superinvestor. Hard work means squat if you can't beat an index that you play in after fees. And you better do it be a good amount if people are gonna call you super. If I started a fund and just invested in a small cap value etf and didn't tell anyone, I would be called a superinvestor too. For what it's worth, I would say this guy is a really good investor. Not exactly great, or super though. Put it this way. Van Den Berg's record is almost as good as Peter Cundill's, and Buffett said that the type of manager that they would look for at Berkshire would be like Cundill. So are they superinvestors? You'd have to ask Buffett. Are they great investors, good enough for Berkshire, and probably outperform 99% of fund managers over the long-term...most definitely! Cheers!

That's what Ben Graham did, and that's what I'm hoping to do myself! ;D Cheers! I hope you skip the part about dating your dead son's gf. :P No kids...it's all good! Cheers!

That's what Ben Graham did, and that's what I'm hoping to do myself! ;D Cheers!

YES I would.. irregardless of what class of asset it is.. 15% after that many years is tremendous I guess you wouldn't include Walter Schloss as a 'superinvestor' then even though Buffett calls him one It's not the return achieved but the combination of return resulting from individual efforts to obtain that return. Schloss is clearly a superinvestor. It's by virtue of the fact that he selected various securities to achieve that return. Someone invested in his fund or an index fund is not a superinvestor. By your definition, hiring an architect and contractor who build a beautiful home makes one a great homebuilder as well. Or, by choosing a good fantasy football team makes one a great football player. So, if someone works 100 hours a week vs 1 hour per month, yet have the same returns - the 100 hour per week guy is more super than the other? Now, if the 100 hour per week guy is a lot "less risky" whatever that means, then, yeah, I can buy that, but not just returns and work ethic combined. By the way, Buffett called guys that were "superinvestors" did not beat an index by a couple points. These guys crushed it. You should beat it by at least 5% to be "super". anything else is good or great, etc. What is average, good and great to you guys??? This doesn't look too super. :P http://quote.morningstar.com/fund/f.aspx?t=CMAFX That's exactly what I said above Paul: If you beat the market long-term by 3% annually, especially if you run a fund because you have a significant amount of limitations (redemptions, investment limits, client concerns, frictional costs, regulatory hurdles, etc), then you would be considered in the great category of investment managers...as only about 2% of fund managers get in that category! If you beat it by more than that, then you could be considered in the superinvestor category. Schloss and Van Den Berg are both superinvestors. Cheers! In terms of working 100 hours versus 1 hour. If you go to the dentist and get your tooth pulled out in one hour, does that suggest you should be pulling teeth versus the guy who has worked at it for thousands, if not tens of thousands of hours? The argument just doesn't jive. I'm the first to criticize how awful the investment industry is, but I have to tell you that there are plenty of clients who haven't got a clue what it takes to be a good investor, after being on both sides of the coin. Some of the finer details of the traits of these types of clients: - If you aren't beating the market every year by five percent, they ask you what is wrong with you? - They pull money right at the bottom almost every time! - They ALWAYS second guess your decisions...cannot emphasize enough! - They don't realize the difference between looking after personal capital (no restrictions, totally temperament based, captive capital) and public capital (redemptions - not captive, restrictions, multiple-temperaments). - We cannot make mistakes, but the destruction of their own wealth can be without precedent! That being said, I love the business. I love what I do. And I'm more than happy to put up with the gripes, since we are serving them...but the irony in client behavior is quite perverse...and in the general investing public too, including those on here that manage their own personal capital! Cheers!

YES I would.. irregardless of what class of asset it is.. 15% after that many years is tremendous I guess you wouldn't include Walter Schloss as a 'superinvestor' then even though Buffett calls him one It's not the return achieved but the combination of return resulting from individual efforts to obtain that return. Schloss is clearly a superinvestor. It's by virtue of the fact that he selected various securities to achieve that return. Someone invested in his fund or an index fund is not a superinvestor. By your definition, hiring an architect and contractor who build a beautiful home makes one a great homebuilder as well. Or, by choosing a good fantasy football team makes one a great football player. Yeah, I don't think Kraven could have explained that any simpler. If I buy the Denver Broncos, does that make me one of the greatest quarterbacks ever like Peyton Manning? If I invest in Berkshire Hathaway, does that make me a superinvestor like Buffett, because I achieved the same results as him? Big, big difference! If you beat the market long-term by 3% annually, especially if you run a fund because you have a significant amount of limitations (redemptions, investment limits, client concerns, frictional costs, regulatory hurdles, etc), then you would be considered in the great category of investment managers...as only about 2% of fund managers get in that category! If you beat it by more than that, then you could be considered in the superinvestor category. Schloss and Van Den Berg are both superinvestors. Cheers!

Hi A_Hamilton, Yup, I received your payment. You are good to go! Cheers!

Yeah, Racemize that must be it. Click on the arrow and that section will reappear. Cheers!

Should be just under your username when you are logged in: "Hello (username)" Show unread posts since last visit. Show new replies to your posts. Both the unread posts and new replies should highlight when you hover over them, and then link you if you click on them. Nothing has changed and no recent updates. Cheers!

It's not that he doesn't like Jack Welch. He's just interjecting in a debate and trying to enlighten...kind of like how everyone on here does! ;D Cheers!

It was most definitely a subtle jab. Read the exchange again here: http://www.economicpolicyjournal.com/2012/11/whoa-battle-of-oligarchs-warren-buffett.html By the way, try and ignore the "Snorgtee" girl in the bikini on the right...it was hard for me to do, but I managed! Cheers!

14.45% annualized since 1974 is pretty solid, though many have done much better. http://www.centman.com/investment-strategies/cm-value-i-all-cap-value/performance Many? You will struggle to come up with more than 5, maybe 10. Even if you would come up with 50 it will still make them a Superinvestor. They will certainly rank in the top 0.1% of the fund population. Great notes!! +1! Cheers!

Maybe Buffett was just talking about selling shoes! ;D Not sure the email is clarification. Cheers! http://buzz.money.cnn.com/2012/11/06/warren-buffett-purple-shoes-jack-welch/?source=yahoo_quote

A man died at the poll, was revived with CPR and then asked "Did I vote?", once he came back from the dead! ;D True story. Cheers! http://news.yahoo.com/blogs/ticket/michigan-man-dies-during-early-voting-revives-makes-225724476.html

I think Welch is going to have to get GE to buy him some more toilet paper and bulbs for his house...since you know Obama's going to ruin America and force Welch to buy his own. Poor bugger! :o Cheers!

WEM lost his marbles or just trolling? Neither - it was a wickedly funny takedown of (presumed) self-interested fear-mongering. Yeah, I don't think anyone got it except Welch himself, and that's why he said "I may have said that, but I don't remember." It was pretty funny! Cheers!

Canadian investment legend, Stephen Jarislowsky, is stepping down from the CEO position at his firm. Cheers! http://www.bloomberg.com/news/2012-11-06/jarislowsky-to-step-down-from-helm-of-money-manager.html

Article on how WFC is focusing on expanding their corporate banking business in Canada. Cheers! http://www.bloomberg.com/news/2012-11-06/wells-fargo-makes-canada-top-priority-in-international-expansion.html

Buffett calls in to ask Welch a question. Cheers! http://video.cnbc.com/gallery/?video=3000127240&play=1

So he has this confidence of being an imagined important person that isn't born from his own competence. - Ericopoly 2012 That was so good, I'm going to use that in the future at some point. Cheers!

Rogue Apple trade went sour. Cheers! http://www.bloomberg.com/news/2012-11-05/rochdale-said-to-be-in-advanced-rescue-talks-after-apple-trades.html

Amusing article on the world's obsession of formulating Buffett's brain within a fund! Cheers! http://finance.yahoo.com/news/mind-games-finance-pros-keep-022100543.html;_ylt=AjcemAXPi_UbC_VH6yly3JGiuYdG;_ylu=X3oDMTNyczdrczJsBG1pdANGUCBUb3AgU3RvcnkgTGVmdARwa2cDOGU0NzI3YzItMDBmOC0zN2NmLWEwZjUtZTNkYWM4NzAyYzY0BHBvcwMzBHNlYwN0b3Bfc3RvcnkEdmVyAzI0YmUzNjYwLTI3NjItMTFlMi1iYzcyLTcxZmJlNGE0ZjRiMw--;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3