biaggio

guys, you re preventing my bid from getting filled at $69

Liberty, makes sense, thanks.

just listening to CNN. Israel market open on Sundays. I did not know that. Talk about working hard. Israel market is down 5% today (sunday).

"My point is that there are plenty of ways to raise the money from a general Value Added Tax. Believe it or not the economy adjusts. Value added taxes as much as I hate them do less economic damage because they tax consumption rather than individuals. What the US needs is real political leadership, not game playing. Someone needs to stand up and say we are rasing taxes for the good of everyone. " I was thinking the same thing. I live in Canada Nobody likes to pay taxes. Myself included. They argue that taxes will stall economic growth. The best way to get someone to do what you want, is to get them to want to do what you want. My understanding is that whatever you tax you will have less of. Why don t they increase tax on things they want to decrease? Examples: -Energy consumption -hazardous life styles (value added tax to all fast food, junk food, cigarettes, alcohol...sad thing is that people will still probably pay, but at least you can recoup the health care costs) -short term investments (how about a very small VAT on derivatives, high frequency trading, naked shorts...) -I think they need to start charging other countries for defending,+ protecting them i.e they need to start sharing in the cost Eventually-cut taxes for real personal income. Encourage people to work hard. In Canada you pay a higher tax % of income the more you make-it does not make sense, -Cut taxes or give some sort of credit for companies creating jobs There is no free lunch. The free market is a wonderful thing. It eventually gets us to do what we must do.

"Buffett sounded no alarm bells about the downgrade, going so far as to say it wouldn't have much effect on the markets Monday. "If nothing else takes place, meaning, if all other variables hold and there isn't say, a new problem in Europe, it won't make any difference."" Do folks feel that there will be no effect on the markets Monday? No effect is the opposite of my initial impression. I agree that it makes no difference in the value of stocks, but I can t imagine that Mr Market will feel the same way i.e will Mr Market be more depressed on Monday. If the markets react positively, then we have to be at a bottom of some sort.

Thanks for the info Rabbit + BargainValue. Do you think those program/high frequency/computer traders or have this facts in their algorithms + will be liquidating, selling short etc piling onto the other macro issues? Does not look too good.

http://www.businessinsider.com/roubini-qe3-has-begun-2011-8 Roubini declares that the latest currency interventions from Switzerland and Japan represent the start of QE3, ultimately ending in more Fed easing. Read more: http://www.businessinsider.com/roubini-qe3-has-begun-2011-8#ixzz1U75uQRZC

Parsad, thanks for sharing. I bought in 2% increments. I would like to scale in 20% of my portfolio.

Good to be greedy when other are fearful. If you don t mind me asking, are you scaling in 1-2 % at a time or are you buying 5-10%? I bought some ALS.TO, BRK.B. Good to have dry powder.

it was announced on CNBC that Bank of NY Mellon is going to start charging a fee for holding onto large amounts of cash. Not only will they not pay much interest but they will charge you for having cash in your account. I never thought that could happen. Then again, that is like having a monthly fee on your bank account. Looks like we should either get our mattresses ready to hold cash or invest the cash.

http://finance.yahoo.com/news/Winthrop-Realty-Trust-pz-2905425872.html?x=0&.v=1 Earnings out for quarter. Numbers (FFO, BV) down on a per share basis due to share issuance. Acquiring + selling assets with apparent good return (15+%). I hope current shareholders are not diluted with further share issuance.

http://online.wsj.com/article/SB10001424053111903454504576487720348267828.html?mod=WSJ_hp_LEFTTopStories Is this going create value? Or are they just wasting energy/effort that they should be using to improve efficiency, quality of their products, etc ?

Makes me feel smart. Thank God there are people who think that way.

I picked up a small position(1% eye dropper size) this week. Plan to average in if/when we get further decline in price. (trying to game the 20% drop in price after I buy something)

footnote?

Healthcare providers / health insurance companies were sold off by market yesterday- too much so in my opinion.

It looks like that is what the market is thinking. Down 140 at noon today. I thought it would bounce up with an agreement. Better to focus on what bargains will be brought to us.

another deal with Wilbur Ross

http://finance.yahoo.com/news/Loews-Corporation-Reports-Net-bw-204152717.html?x=0&.v=1 Loews Corporation Reports Net Income for the Second Quarter of 2011 Anyone holding,=, buying or watching L.?

Farnham, I check your blog regularly. The breadth + depth of stuff you write (and read about) is quite impressive. How many hours a day do you spend reading? Have you ever taken any speed reading courses ?

Fairfax Financial Holdings Limited's CEO Discusses Q2 2011 Results - Earnings Call Transcript http://seekingalpha.com/article/283126-fairfax-financial-holdings-limited-s-ceo-discusses-q2-2011-results-earnings-call-transcript

Fairfax Financial Holdings Limited's CEO Discusses Q2 2011 Results - Earnings Call Transcript http://seekingalpha.com/article/283126-fairfax-financial-holdings-limited-s-ceo-discusses-q2-2011-results-earnings-call-transcript

The Widest Moat In The World: MO, KO, PM, JNJ, EPD? http://www.gurufocus.com/news/139947/the-widest-moat-in-the-world-mo-ko-pm-jnj-epd off the top of my head: Brands-KO, PEP, Wrigley, Hersey, Goog Networks- MA, V, AMEX, Ebay(?), banks Any ones that folks think of that are not as obvious as those ie under rated moats

Bookie, dang you re right I was not looking it that way. Supports notion to keep some cash on hand, +/- other tangible assets. I think this was recommended by economist/hedge fund manager on another thread. I am not that pessimistic. I love the quote that they will try everything else but eventually they will do the right thing.

Oh, that brink, then we re all dead.