Parsad

It's been pretty brutal. And a number of players have been put in dangerous, compromising positions. With these refs, you don't know what is going to happen, because players are playing fast and loose with the hits. I've seen a lot of retribution hits during play, and roughing after plays. The professional refs are much better at getting this stuff under control. Cheers!

So far five former hedge fund managers at SAC have been tied to insider trading allegations brought about by the U.S. government. But still of course this isn't a firm with a culture of unethical and illegal conduct! Cheers! http://www.bloomberg.com/news/2012-09-25/sac-capital-fund-manager-said-to-be-uncharged-conspirator.html

We are loading up. It will be one of the best investments we make in the next couple of years. Cheers! Why is this your best investment? See post in thread below: http://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/ostk-overstock-com-(short)/msg86861/#msg86861 Cheers!

We are loading up. It will be one of the best investments we make in the next couple of years. Cheers!

Remember his thesis on Fairfax? This guy gets too much press and far too much praise. Cheers!

Not much good press since I sold my shares! ;D Cheers!

Berkshire now owns 17% of Media General after exercising their warrants. Cheers! http://www.bloomberg.com/news/2012-09-24/berkshire-exercises-media-general-warrants-has-17-equity-stake.html

They also had a very funny print ad comparing the iPhone 5 to their phone. Cheers!

Japan had and continues to have restrictive immigration policies. They had an aging population, poor demographics and little immigration. Who was going to buy their houses after the bubble? While the U.S will/may face significant difficulties, I think the fact that more people coming to the U.S., as well as existing residents, will sop up much of the excess housing inventory and slowly elevate prices. Inflation is going to be a bigger problem in the U.S. than deflation. Cheers!

I believe he did discuss AIG and it was just a comfort thing...anyone else who was there, can you confirm that. I've got the Pabrai Funds presentation, Annual Report, Dakshana Report and everything else floating around in my head right now. Cheers!

If you are dealing with Canadians primarily...start with Prem! Cheers!

That is the funniest thing I've read all week! Beautiful. I heard another one this weekend which would be apropos..."Quite the shame! Alot of horsepower pulling in the wrong direction." Cheers!

Great cartoon pic,...seems to me, that Mohnish & Guy are the Muppet Show's old men from the balcony,... almost like WeB & CM. Buffett & Munger are the old men from the balcony. Mohnish and Guy would be Kermit and Fozzie! ;D Cheers!

About $430M. What did he say about RIMM? Pretty much what Prem stated...that the dollar amount relative to the assets under management is not something that should perturb shareholders. Cheers!

The Winklevosses have invested $1M into their friend's company, SumZero. Cheers! http://ca.finance.yahoo.com/news/winklevoss-twins-invest-social-network-company-report-025826502--sector.html

No he doesn't really comment on his current holdings. There was a long, hypothetical question about BAC, but it did not gain any traction. He did talk about his mistake in buying Fannie & Freddie Preferreds, and that he felt the equity positions in the funds were worth over $1B based on his estimates of intrinsic value, and that they were of the highest quality the fund has held. Cheers!

It was another great time at the Pabrai Funds AGM. I met alot of wonderful people, and it was great to see many faces from the board here as well. One particular individual...thank you very much for the wonderful comments you made to me at dinner about the message board and a small token favor I did for you in Toronto...it made my day! Mohnish switched up the AGM location this year and it was held at SOKA University of America's Performing Arts Center. A stunning campus on a hill in Alisa Viejo with only 300 students...lucky students! You can see from the pictures exactly how beautiful this place is. The Performing Arts Center was a wonderful venue with a screen of nearly IMAX proportions...again see the picture! Mohnish did about a 35-40 minute presentation and then answered questions for over an hour. Plenty of things were discussed including RIM, macroeconomics, porfolio allocation, intrinsic value of the Pabrai Funds, global investing, philanthropy, using a sounding board (colleague), and of course his mistakes. I can't really do the presentation and Q&A justice, as Mohnish has become very good at translating ideas through analogies and humor. You just had to be there! ;D One question that was not asked, and I'm very surprised that it wasn't, was the comment Mohnish made in his last letter about there being one CEO that was superior to the others in the portfolio. No one asked! By the way, he wouldn't tell me when I had dinner with him the night before the AGM, so it probably would have been in vain anyway. The turnout was a little less this year. Not sure if it was because nothing that significant happened in the last year, or possibly the venue was a bit different...a few people mentioned that they preferred the Huntington Beach AGM because they could spend the weekend there with their families, especially children, and there was much more to do after the AGM, again, being able to hang out with attendees somewhere. Both are stunning venues and neither takes away from the actual presentation and event. Finally, Mohnish and Guy Spiers had done a great presentation for UC Davis, and the hosts presented him with a thank you gift...a caricature of them both. I've attached a photograph of it. Cheers!

Our own NormR is going to be sharing some stories on value investors over the next little while for the Globe & Mail. Here is the introductory article. Cheers! http://www.theglobeandmail.com/globe-investor/investment-ideas/strategy-lab/value-investing/stinginess-works-why-im-a-value-investor/article4548173/

Alnesh and I, along with a couple of other people, will be at the Pabrai Funds AGM venue around 3pm. If anyone wants to meet up a little early, we'll see you there. I'm not particularly familiar with this new place (Soka University Performing Arts Center, 1 University Drive, Aliso Viejo, California) so please look for us somewhere near the main entrance or lobby. I will be wearing a "Pabrai Funds" or "Corner Market Capital" polo shirt under my jacket...depends which looks better with the jacket! ;D And I have a goatee, bald head and glasses. Cheers!

The Dakshana 2011 Annual Report is out, and Mohnish does a terrific job discusssing the successes and failures at the foundation. You can read it here: http://www.dakshana.org/AR11.pdf Mohnish also had a bronze bust of Charlie Munger commissioned by the premier bust maker in India. It will be placed at a new building at one of Dakshana's Indian campuses, and the building will be named "Charles T. Munger Hall". Another bust is going to be auctioned off on eBay in October, with the proceeds going to Dakshana. I will put details of the auction on here at a later date. You can see a picture of the bust here, which is very nice: http://www.dakshana.org/bigimage.asp?ID=404&yearid=2012 Cheers!

I don't own Tesla, but I just saw the Tesla four door sedan at their store in the Fashion Island Mall in Newport. It's a beautiful car. They're marketing it like Apple, but the reliability seems to have been on par with AMC so far. Hopefully, he gets the execution right over time. Cheers!

Update by Chanticleer on the audit and Nasdaq information request. Cheers! http://ir.stockpr.com/chanticleerholdings/company-news/detail/343

I'm happy if we get him here in Vancouver, but I'm disappointed that the Canucks are playing hardball with Burrows. The kid has done nothing but overachieve and he's been getting paid as a top-notch journeyman. He's been loyal, hardworking and does anything the coaches ask him to...they should just pay him and resign. Cheers!

+1! Cheers!

Who are we kidding here? Of course you can draw conclusions. One guy specifically owned the last phone and he assumed there was some discernible difference. Jobs was fantastic at creating hype...genius in fact, another PT Barnum...and he backed it up almost every time. That aura about Apple products does exist and permeates the consumer's consciousness as well as anything...including the taste of Coca-cola. Cheers!