AzCactus

I just wonder what Trump will say when a correction or recession actually does occur under his administration lol.

Not to change the subject but hasn't Longleaf performed pretty poorly over the last decade or so?

Wow, did the joke go over that many heads? :o It didn't go over our heads lol....We still want the letter independent of it not being posted. We understood the silly video too.

+2

MH was bored and apparently had little to do on Friday night.

100% :)

What about which company/management team has the best prospect for the next decade? 1. BAM-Bruce Flatt 2. MKL-Thomas S. Gayner 3. CMPR- Robert S. Keane 4. CSU-Mark Henri Leonard

I know it's cheesy and perhaps a little short sighted but it's the holidays so what the heck! My pick is LUK. I think that the company is headed in the right direction and making some smart moves. Probably not the sexiest pick around.

How does a company "transition" from iced tea to blockchain? Can someone let me know what I am missing? This would be like KO transitioning into BA lol

Debt-lots of this with auto loans---higher interest rates/longer terms/not enough due diligence and higher default rates. It's hard for most people to get to work without a car.

Hm, I would be careful about this. IIRC, Rick Guerin did something similar, and he ended up selling his Berkshire shares to Buffett @ $40 a piece to satisfy a margin call. Works until BRK falls 50% as it has done 2 or 3 times. Leverage always works....until it doesn't. Or as Buffett says regarding leverage---"if you are smart you don't need it and if you are dumb you have no business using it."

Let me start with I am not a Pabrai hater or anything but doesn't the below somewhat indicate performance hasn't been too stellar until relatively recently: - Will receive his first incentive fee in 10.25 years...somewhere around $13M! Not trying to be harsh just figure he wouldn't wait 10 years for an incentive fee unless there was a reason.

Ross, can I ask how you stablished that Valueact paid an average around $118? I'm just curious here because my crude estimate would be a lot higher than that $118.

DNOW.

+1. He's obviously helped a lot of kids go to school and that's admirable---but what he says and what he does don't necessarily align in my judgment.

Best of luck Packer.

Live in Phoenix, AZ From Los Angeles Goal is to retire in La Jolla, CA

It would be interesting to cross reference this with age as well.

Charlie Sleeping ? Not sure if this is common but thought it was funny.

Interesting take on things by someone I know we all have respect for: http://www.oakmark.com/News/Maybe-US-Stocks-Arent-Overvalued.htm

Incentives are very powerful :)

Thanks...Any idea what his returns have been.

IBKR and added AN

That is a little surprising even for a natural born skeptic like myself.

Anyone else having issues downloading the link?