EricSchleien

Hey All - starting a value investing podcast. Will be done in interview format. Would love to interview some people from this community for the show. Please let me know if you're interested! Thank you Eric

Are you sure they've been buying the Liberties or are the changes in positions due to the nature of the tracking stocks?

RIA in a box is great!

I dig La Quinta Inn @ Carter Lake

For Excel, you can use the XIRR function. I use Interactive Brokers as my broker and they have all that custom built into the system. Can't beat it for the price!

I was sad about this today. I was planning on meeting him this summer. I first spoke to him when I was a freshman in college 10 years ago. I called into the CHK conference call and asked him a question. At the end I told him I was wicked pumped for the future of his company (little did I know of the future at the time lol) and it ended up being quite a funny conference call after that. I ended up writing him a letter shortly after wanting to learn more about the natural gas industry and he mailed me a bunch of books. It was pretty awesome. We kept in touch via email over the years and I was going to see if he wanted to get together at his office this summer when I would be near by. So despite his flaws, he made a contribution to my life and that I will forever be grateful for.

Bought some Buckle (BKE) last week

one of the few that's rational.

http://finance.yahoo.com/news/euro-pacific-canada-dundee-securities-133000261.html

Arbing KCLI for the buyout tonight (249 shares) Bought a ton more Dundee today

One of the things that often is missing in the value investing world/community is that "knowing makes no difference". You can understand all the mental models you want but if it's only at the intellectual level -- they won't make much of a damn bit of difference. Warren Buffett read Dale Carnegie. However he also experienced Carnegie and had a coach and was trained in their work. There's a level of experiential learning and wisdom based learning that can't be had from a book. I've watched people get more in 3 days then in 10 years of reading books on personal development and mental models. It's much more powerful to discover them for yourself vs being in the realm of learning a concept in a book and then trying to apply it. It's simply a function of how we're wired as human beings. So mental models that I use ----- While I use the mental models of "Tribal Leadership" and while I read the book "Tribal Leadership", I had to experience it for me to really get it. While I use mental models from Napoleon Hill, Socrates, Aristotle, Dale Carnegie, Heidegger, The Gita, Zen, and Tolle -- I always understood that stuff intellectually and thought I got it -- however it was always over a contextual framework of how I already experienced my life so it just became another thing to do on top of all my underlying framekworks which were blind to me. Doing a Landmark Forum was way more powerful than reading this stuff and reading this stuff again from a clear slate made these books way more powerful for me. So someone that can teach you something viserally in the realm of transformative or breakthrough results will allow one to gain access to these distinctions / mental models in a much more effective and quicker period of time vs spending years of reading about them and practicing them and I can pretty much guarantee the path of reading alone will always be less effective and WAY slower and inefficient of a process. So that's how I personally use mental models. Find the best of the best coaching and training and do them and get lightning fast results without having to memorize anything or practice much of anything. Then over time the memorizing and practicing comes and that muscle develops. Just like balance -- you can't read about it, you have to discover it for yourself. Cheers!

Community: The Structure of Belonging by Peter Block

While I love Charlie and his work -- the simple knowing of this makes no difference. I grew up valuing ideas like this. However the intellectual knowing of this which can take MANY years to read and learn is much less powerful than the visceral getting of it which usually only takes hours to days.

This should help. I actually didn't even know myself. Looks to me the only disadvantage is if you're a bigtime investor where voting rights matter to you. I pulled this up from Investopedia. "What Does Unsponsored ADR Mean? An American depositary receipt (ADR) that is issued without the involvement of the foreign company whose stock underlies the ADR. Shareholder benefits, voting rights and other attached rights may not be extended to the holders of these particular securities." Source: http://www.investopedia.com/terms/u/unsponsoredadr.asp

Is anyone familiar with a company called TimberWest?

can anyway give me any kind of good logic to why they would have put money in ackman's target fund...to me it doesn't make any sense.

Does anyone know of any CFAs who is capable of doing auditing work a fund. I'm currently looking to hire someone. Any help would be appreciated.

Absolutely

Of course I'm just speculating here but I believe Tariq has a point. Buffett has also often prides himself on not using investment bankers yet he's used Goldman Sachs before to help broker some deals. I think in general Buffett likes to speak in generals.

One of the things I really admire about Warren Buffett is who he stands for in the business community. Sure, he's made a name for himself by becoming wealthy and doing very well for shareholders over the long-haul but he seems to be talked about more so than many other businessmen and I think a huge chunk of the reason is that he's a model for integrity in business, he has a unique way of making deals and doing business. He's inspired me and I would assume many on this board. There is another business man I'd imagine most of you have never heard of. He works for a company called Jefferson Capital and is based out of Toronto, James DeStephanis. While we do entirely different things (me value investing) and him in venture capital, his approach is a very pragmatic and rational approach. I see him as a high energy Charlie Munger almost. Seeing him in action and being around him is an incredible experience and his wisdom and integrity in business is absolutely something you have to experience being around him to fully comprehend. Even though he's doing VC, his approach is totally revolutionary and is someone certainly worth following in the years to come. Anyway I wanted to share a conversation I had with him recently and while reading this to consider how this could totally apply in any kind of business environment which I know many of us are in. He made the statement, "Self-Expression is a function of Responsibility". I asked him what exactly he meant by that. He goes word-for-word, "Eric: A myth about your self-expression is that it lives inside of you. Your self-expression lives in the listening of others. When you and I be irresponsible for who we are, what lives in the listening of others is something other then our self-expression. Be responsible for who you are and enjoy a life of full-self expression." I thought this was an absolutely brilliant distinction and just wanted to share this with all of you! Cheers! Eric

thanks for sharing this dude

okay -- so why would a larger company have more impact than a smaller company. wouldn't you think a smaller company's price would have a larger impact in share price due to less float?

Maybe it's to buyout Biglari joke

Watch the movie Zeitgeist. There's TONS on the Federal Reserve on here.

Anyone familiar with this company Onex. They have an INCREDIBLE track record