Myth465

Not bad timing :D. If only I sold a few other things :(. Nice to have cash around though.

Great interview.

And cash.

Bulls make money, bears make money, sheep get fleeced. The rally may have some legs though - :) These inflows have to go somewhere.

Thanks will dl and read.

Honestly this makes sense to me. I would do the same, depending on how my clients reacted. He has more money then he knows what to do with and doesnt want the stress / pain of dealing with other peoples money.

Thanks, you really are putting your money where your mouth is.

Why not just buy both?

Funny - looks like a number of us have been selling in the last few days. I exited SSW last week and sold out of FBK today. I may end up regretting it, or may be not - we shall see PS: all cash will be reinvested in Silver / Silver miners w/in the next few days as I expect a pullback there. Not trying to convince anyone that what I'm doing is the right thing for every one, please don't shoot bullets at me - just disclosing the reason I'm selling two pretty good investments.... which I may rejoin in a couple of months. btw - Uccmal, do you really think SSW will increase the dividend when they still appear hell bent on acquiring yet more ships? I'm curious, the thought hadn't crossed my mind Humm when the pullback happens we will need some names. Everyone is talking about silver. Its out of my circle. UhuruPeak that was part of my sales rationale. They are bent on expanding in what I consider a weak market. I dont think they have a choice though, the competitors are expanding as well and the new ships are more fuel efficient. With that said I think they can do both. Increase the div based on cash flow, and buy ships using debt. Its in their best interest to move the SP higher and a few dividend raises will do that. How / Why did you pick SSW and FBK to sell?

Berkowitz even has his own Charlie ;D. Though as far as I know its not the same.

True but, He also said he makes 100% of the investment decisions and does all of the analysis. ○ Warren Buffett - "My idea of a group decision is to look in the mirror."

Well it is the SEC, we got to start somewhere.

As do I. It was a tough one to sell and I will likely regret it in a few weeks if they announce a div increase. I hope to be able to buy back in to FBK (I too welcome a $1 over the next range) and SSW sooner or later. Right now things are quite jittery and I feel a bit better with 14% cash vs. 3%. I also figure if we get a pullback FBK will go down more than anything else I owned. I am still kicking myself for not buying Precision, but I own some of the offshore guys. Uccmal, thats the main reason I dont hold FFH. If they are right they will sell off just like everything else. IV will be going up, market price down. That will be the time to load up. The bonds and hedges should rally quite a bit with a downturn. Dazel, thanks again for the tip. You are however part of the problem. Its tough to hold onto cash with you guys posting ideas :). ---- alertmeipp, Hopefully by this time next year. Either way it will be a wild ride with either stock. Both are pretty volatile.

Lol this may just be the case. I hope it doubles for you and ATSG goes up 105% ;D.

Similar to SD, I have more conviction in ATSG than FBK. I think its an easy double from here. Also with nearing options, and significant exposure to oil and gas. I think its prudent to raise cash. Decided to sell FBK and SSW. I still like them both and may buy back SSW, but these are my least conviction ideas right now. SSW is up 50% and FBK is well FBK. I wonder why the other smart guy sold. We know that SD has bought PD (Precision Drilling?) Uccmal what are you up to?

Humm doesnt Buffett work alone and how much does he manage?

Maybe they read the Taibbi article. Has the SEC grown some balls. I honestly think putting 5-10 of these guys behind bars will go along way towards cleaning up WS.

Lol I was looking at selling this to raise capital and hold cash which at this point seems like a better prospect. Interest. I figure I can only complain about management for so long. The real question though is what are these better ops you guys see?

LOL. You underestimate XOM, They are only the largest company in the world (definitely within the top 5), but what do they know. Lets just put $4 in the price column and take that out into when the reserves run out. Also CHK converted their gas to cash, not JV but cash. But ya anyone paying more than $4 gas is speculating ;D. If I bought XTO I would be overpaying. XOM can create new gas markets. they are the 10,000 pound gorilla and they are in it for the long haul not 1 - 2 years. Its not for me, but I dont have Congressmen and Senators on the payroll lol. With that said I agree with Rabbitisrich. There is a bit of naiveness and inmo arrogance here. To me its much better to say I dont get something, or I cant see the value, or its in the too hard pile then to assume the whole world is speculating (unless of course the whole world is speculating :)).

This has been way overblown. Here is one reviewer who used his own system to see how long it would last. http://www.anandtech.com/show/4159/ocz-vertex-3-pro-preview-the-first-sf2500-ssd/2 "Over this period of time I used only 10 cycles of flash (it was a 120GB drive) out of a minimum of 3000 available p/e cycles. In eight months I only used 1/300th of the lifespan of the drive." Our company will be using IBM Enterprise SSDs. IBM has rated them for 5+ years in intensive write environments running 7x24. In most business environments IBM expect them to last much longer. Based on my experience with hard drives, it looks like SSD have already surpassed hard drives for reliability. Thanks the detail Hoodlum. I guess now is a good chance for anyone to get out with a pretty nice gain. They have finally solved the cash problem. I like the deal so far. This gets us into Enterprise and SSD. It also takes a player out of the market. Its turning into a Duopoly. http://www.hitachi.us/about/press/details/11162010.html I think SSD will eventually take over, but also believe the key HDD players will be key players there as well when the time is right. WDC on the last presentation mentioned that Hybrid will only work if the operating systems are optimized. I do disagree with you on data. Its growing by leaps and bounds both via the consumer space (pics, music, movie downloads) and via the digitization and storage of existing data (government files, movies (these will have to be stored several times over to make streaming effective). Basically I think these guys are in the storage / media business and not the HDD business.

Depends on your goal. Both will let you sleep easy. I think FFH will decline with the market, even though its IV will be going higher. I would prefer cash because it would allow me to buy FFH and other securities at a deep discount. FFH is well protected though and would also be able to buyback or buy other assets at a deep discount.

I have a solution. You are both right. We should have a lower Corporate Tax. A VAT / Consumption Tax, and a smaller income tax. Somehow I dont think Eric is happy. ;)

This is basically the short thesis cept short and sweet. What are your thoughts on the overall growth of storage and hybrid drives?

Actually thanks for the post. I think I will take your and Prems warnings and plan to begin selling a few things on Monday. I hope to pay off all and any outstanding short term debts I may have, cover my March ATSG call options, and have 10% - 20% cash left over. Its tough selling things you really like, but I think I will sleep much better and will be better positioned for whatever the market throws up. I think Pabrai had the best ideas on MOS in relation to cash - to me this makes much more since then holding cash based on the market value. I would like to hold cash in the following percentages / market conditions - 0%-2% (Market Undervalued), 5-10% (Market Fairly Valued), 10-20% ( Market Overvalued). When cash falls below 10% investment ideas need to have 3x upside. For cash to fall below 5% investments should have 4x to 5x upside. Anyway thanks again.

Damn