NumquamPerdo

Well, at present they still have sweet FA. Not sure why they couldn't just tell us that after the close instead of halting the stock all day.

Stock halted pending news. Stay tuned...

I don't know if anyone still follows this but it's had a nice pop lately and this is why: http://www.marketfolly.com/2011/10/guy-gottfrieds-long-brick-presentation.html Fairfax has made a pile on them since they bent them over when they restructured a couple of years ago. They now own 33% of the company and a good chunk of the 12% debs.

I've been invested in YAK since the first financing. They recently raised $20 million at $3.51 so the P/NAV is much lower than what you're suggesting. You're also paying up for a much smaller company and a much higher domestic GDP growth rate than the other companies you mentioned. Having said that, it is much riskier. I've known Calonego for quite a while now and Kuppy for about a year. These are two really impressive young men who are exactly the type of owner/operators who I enjoy investing alongside. They don't pay themselves any salaries and invest at the same terms as everyone else (excl. the initial seed money). They don't pay themselves bonuses or grant themselves options, etc. They make money from share price appreciation and have a significant amount of their own capital in the company. They also have some of the sharpest business minds I've come across. They've got some very interesting things planned, including building a P&C company from scratch (although with highly experienced people) and buying up chunks of Ulaanbaatar. It's impossible to value based on the books and is very much a bet on Kuppy and Jordan and their judgement. You can gain a little more colour by reading the monthly posts on their web site or some of the other posts on the adventuresincapitalism site.

I think this does speak to how hard it is going to be to replace Warren & Charlie. Top tier investment managers would be better off managing their own money or building smaller versions of BRK on their own.

Dude, don't even get us started on shorting FFH. :P

Pretty funny: http://www.bloomberg.com/news/2010-11-26/what-to-do-when-the-fbi-raids-your-hedge-fund-commentary-by-jonathan-weil.html

At the same time, if you happen to see a guy being arrested in a dark blue, wool PEA COAT, considered to be a wolf on Wall Street who eats investor sheep, you'll know why ICAN believe in conspiracies. Very subtle; I love it. How about this: Those who have been MILKIN' the system since the 80's will be brought to justice.

Consultants and soft dollars.... right.

+1 Sanjeev's statement. I think most people who are around from the bear raid days have a negative association with Tilson. Maybe he was new in the business and a little naive with whom he surrounded himself? He certainly did piggyback some pretty nefarious (imo) guys. Chanos as a key speaker at the VIC? Seriously?

BRK carries a wide range of products but I'm sure the bulk of their volume is low-end and poorer quality. Gregson is a merchandising genius with a great track record so I expect continued improvement. I know the guys at FFH are very impressed with him. However, they diluted the crap out of it when they restructured a couple years ago so I wouldn't hope to see previous highs for decades. I'm long the warrants (they often trade with no time value) since the restructuring and plan on holding for the foreseeable future. FWIW

Not really material but I must say I did smile a little. http://www.reuters.com/article/idUSTRE63555C20100406 Snicker...

It was quadruple witching too - might have been some options-related activity.

I stand corrected! I love this stuff.

Hey Sanj, Patrick has basically said Stevie Cohen is the Sith Lord: http://www.deepcapture.com/someday-i-may-sac-up-and-be-more-explicit-about-the-sith/ If we hadn't lived through it I would still think this stuff is far-fetched.

I deal with alot of retail investors so I have some exposure to lay-investor sentiment. I would hazard a guess that gold still has a ways to go but I have noticed many of my less sophisticated clients inquiring about how to play gold. But that's still a far cry from them lining up around the block to buy bullion and calling me stupid for not having exposure to it (which will happen, guaranteed). It's hard for value-oriented investors to profit from bubbles. You either have to ride something you suspect is overvalued or short the bubble, which is very difficult to time. FWIW, my vote for the next bubble is carbon credits. If someone creates a way for retail investors to access that market then God help us.

What a wild ride it has been! It was helpful listing on NYSE when FFH needed capital after the TIG acquisition went bad but man it has been costly for them overall. Not just the direct costs of a dual listing but the increased cost of capital when they became a short-and-distort target and the psychological toll of dealing with certain Manhattan scum for so long. I think the TSX should market its USD listing service more aggressively. Money is more mobile than it was 10 years ago and the NYSE risks losing its prominence if it can't maintain a level playing field.

JF would have made an obscene amount of money over the past couple of years and I think he's starting a family. Good for him for tapping out after a great streak - I think a lot of people wish they had done that themselves (*coughs* Bill Miller).

The Great Depression brought in the SEC and the Lesser Depression may see its exit: http://www.bloomberg.com/apps/news?pid=20601087&sid=amepJWiwJJNM&refer=home Not a moment to soon in my opinion but talk about closing the barn door after the horses have left! These guys have done so much damage to the integrity of the US capital markets.

Nothing mind-blowing but Charlie is always an interesting read: http://www.law.stanford.edu/publications/stanford_lawyer/issues/80/

I would start with contacting the company's transfer agent.

I also find this fascinating and , to be honest, too good to be true.

Thanks for the video. Does anyone find it ironic that he's using paper and a whiteboard?

Pardon my ignorance, but would someone mind explaining RSS and how it works? Sounds like a good service.

I don't know if anyone still follows Canwest but they another waiver on their interest payment and their senior lenders are actually lending them more money: Canwest Global Communications Corp. (“Canwest” or the “Company”) announced today that its subsidiary, Canwest Media Inc. (“CMI”) and its senior lenders have agreed to extend the waiver of certain borrowing conditions until May 5, 2009. The members of an ad hoc committee of 8% noteholders, which collectively hold approximately 70% of the outstanding notes, have also agreed not to demand payment of their notes for a period ending May 5, 2009 to coincide with the expiry date of CMI’s waiver agreement with its senior lenders. During the two week period, CMI’s senior lenders have agreed to provide the Company with additional access to credit. CMI continues discussions with its senior lenders and representatives of an ad hoc committee of 8% noteholders. It hasn't been reported as such but I get a strong feeling that either the senior lenders or the 8% noteholders are Fairfax, which to me would bode better for Canwest stock. Just a thought, but it still looks to me like a 75% chance of BK.