Smazz

KISS?? BeerBaron KISS = Keep it simple stupid (not meant to be directed at anyone personally)

In short, we tend to have an over supply in durables (construction etc) after most booms. Basically the durables are catalysts for jobs. I dont see this depletion in the short term at all,thats why i dont see a recovery in the near future. No (historically low) durables required, no new jobs created etc etc. Your dad is wise as to KISS.

Lest we forget we are not in the insurance business for the insurance business.. we are in it for the float. Just cant get the float without the insurance so its a devil we will dance with.

I will also state that 2010 may be a 0 sum game for me. I dont see alot of positives out there and I dont see risk accounted for in pricing so I will prob have a zero gain/loss but would be surprised if i dont beat the indexes. Having written that, I understand the only thing constant in the world is change so we will see......

you people are not going to make me calculate this stuff are you? :D lol... I dont think ive been below 40% in the last 3 years for sure. Concentration of portfolio and use the realization that the $ you are putting into someones hands maybe the $ you need to eat next year. Dont feel bad if you are going to take a profit. In this game only one person makes the rules for you, only one person sets the targets to achieve, only one person draws the finish line: YOU!

HAHA - thats good stuff right there!

They got some others right too.... 1979: http://nobelprize.org/nobel_prizes/peace/laureates/1979/teresa.jpg

HAHA Thats great!! Sign me up for that team also Eric. ;D

FFHwatcher, I mentioned this before but it doesnt seem to be on the radar for alot of people but the Flooding in Southern On this year is 1 in 100 year type of stuff. Not trying to be alarmist but i would really be suprised (wont be the first time Im wrong) if this is not in some way material to the bottom line in the next Qs. Having said that, FFH balance sheet can withstand almost anything (this was Katrina type disaster) but am interested to see. I cant go a day without running into someone who recvd a huge insurance cheque from this occurence. Disclaimer: I am almost entirely on the sidelines at this point in terms of equities.

Walmart could be classified as a great business at a fair price. Thats good for some but id like a much better price - there is no fear factor in that price, thats how most of us have made a huge chunk of change in the past here.

If misery loves company. Im with ya on that one!

Index juggling?

What a Ho. Im just getting around to reading some of the threads I passed by but that there^ is some good stuff! HAHA!

haha, yea, they definately do that on purpose.

Al, from a business angle this is very interesting and alot of businesses, not just sports, are watching this closely. You see, Balsilles goal is to bring a team to Hamilton On. A city where his wife is from. Hamilton has Copps Coliseum. The only place (after modest upgrades) other than Torontos ACC that can house an NHL team in that area right away. Now this is the interesting part: Balsille feels he should not have to pay an expansion or territorial fees to the likes of the MLSE (Maple Leaf Sports and Entertainment). MLSE has stated they have veto rights because of territories but Balsille claims this is an anti-competitive act - hence the The Competition Bureau weighing in and announcements and claims of such from Balsilles camp. Bettman doesnt want Balsille for a number of reasons: The NHL would be losing a large chunk of $ if Balsille gets his way by just relocating a current team into the largest hockey market in the world. Bettman, for what its worth, would never mention Hamilton/Southern On area as a possibility for another team NHL team but now that documents have become public because of the current bankruptcy, we see he has infact been not intirely sincere on that subject.

I am dissapointed in the judge. He seems to feel he cant rule something if there has not been precedant ::) ummmm what great logic. rediculous.

Oh, MCD and maybe YUM That would round it out nicely for me. Thats what the mgt of the companies you purchase will do for you. They (the great ones) are all actively pursuing these situations for us. To go much further may be to micro manage in a way but thats why finding the best manager going forward is so important. All the managers we have mentioned are actively seeking those opportunities for us. They have the connections, expertise, resourses for research and capital etc. We just have to sit back and do the easy job of finding our fat pitch price.

I would def put RY in there. If the world continues to grow they will need the resource riches of Canada and funds seem to go through these guys in numerous ways more than most of the Biggies in the Canadian Banking. I would not hesitate to hold BRK and FFH. I would prob only need one more more but I would sleep fine otherwise. Remember, over 20 years you want someone (entity/manager) who knows two things: 1.how to make decent money 2. how to stay away from huge mistakes. The power of compounding will take care of the rest over 20 years.

Just when you thought there could be no more drama - this could get real real interesting... though it is getting somewhat pathetic also: http://www.thespec.com/News/Local/article/633444

That may have been part of the short sqeeze environment....

I sold at $62.50 so I win! :D Wait, you own more shares than I so you win ;D

We all here (assuming owning ORH) are in pretty pink position. Going to have another 40-50% or more year with this transaction - hold some cash and wait for the next close to or under book opportunity to by some more FFH and then we can reap the rewards of this baby and the other subs and HWIC going forward. There has got to be another (general market) pull back soon. The stimulus $ are just about gone. No one is going to be buying homes for quite a long time with the homes/jobs ratio rediculously out of touch. Funding for the Auto sectors cash for clunkers gone. There is a general over supply. Unemployment at its highest since the great depression (some numbers say 1983 was worse but im not going into a pissing contest..) Having less $ to stick handle then the big players gives us (me) alot of advantages that i like. This should prob be another thread on its own but what do some here see as a stimulus going forward? There is not many no brainer positive scenarios i see playing out in the near future.

Its funny, some times the parent takes a hit after this kind of news - fewer times (from my recollection) a spike. should be interesting.

I always think Im lucky when i do that but Ive been lucky for a long time now ;D After this, Im going to sit in cash (and a bubble bath) for a while

What was their latest FV estimate? I do not recall and its not in that article. I know Morningstar has been one of the FFH Bulls for sometime.