DCG

Bulls make money, bears make money, sheep get fleeced. The rally may have some legs though - :) These inflows have to go somewhere. Agreed. The pedal is to the metal on the money supply. Market is up, but doesn't look like a bubble. . . . . . . Yet :) There's a pretty big bubble going on right now in private markets, but stocks as a whole don't look that overvalued yet.

I've sold a bit recently, although I'm still optimistic for the next year or so and the long term. I'm having a hard time finding anything to consider buying right now though.

Those are good points. It'll be interesting to see what happens with the in-app purchases and Amazon. I'd be pretty upset if i could no longer read Kindle books on the iPad. Not sure if Amazon would give in to the 30% commission. I think the iBooks app is better than the Kindle app, but the selection on iBooks is nowhere near Amazon's. As far as price, i feel that $499 is very reasonable. I think it's worth noting that everything moves more toward cloud computing, there is not as much of a need for the versions of the iPad with more storage. I got a 32GB iPad, but still have most of the HD space free. I would have been perfectly fine with the 16gb model in retrospect. And you can already get the original iPad for only $399.

The faster chip is the biggest difference. It's thinner than the iPhone 4 too, which is pretty remarkable.

Love my iPad.

So does probably every car company. Remember that this wasn't truly a Buffet investment. This was Lui and Munger. Buffet could just as easy be viewing this as a mistake.

I just come here for the ads.

The problem is capital gains tax. The formula has you selling everything eery year, opposed to being taxed after compounding returns.

The problem with his formula is that to my understanding it requires completely changing your portolio on an annual basis, which doesn't make a lot of sense to me.

You guys should check out the book 'The Innovation Secrets of Steve Jobs'. Outstanding book for anyone remotely interested in technology and business.

Why on earth would any board approve of all the crap he pulls?

Barron's has been wrong on most of their predictions over the last couple years, so I wouldn't put much weight into anything they say at this point.

Prem has been pretty much dead wrong on his stock market predictions over the last year. I understand the reason for the hedges, but they have wiped out a large amount of gains on their investment portfolio.

Pretty interesting. Page is taking over as CEO, while Eric Schmidt will (thankfully) remain with the company as Executive Chairman of the board. Sergey Brin will remain in his current role, focusing on special projects. I'm a bit unclear on Schmidt's level of involvement in the new role, but as a GOOG shareholder, I'm happy he's at lease staying with the company, as I think he's one of the best CEO's/leaders out there http://www.nytimes.com/2011/01/21/technology/21chief.html?partner=yahoofinance

I started a position in Ebay, and am hoping to buy more at a lower price. This is more of a buy on the future of Paypal than Ebay itself, but I have been happy with what John Donahoe has been doing with this company recently, and am interested in see in them grow Milo as well.

Don't forget that Michael Dell also bought a couple hundred million dollars in DELL shares when it was trading for over $20. Following him in buying shares in the past has lost people a lot of money. The company produces pretty crappy computers and doesn't seem to have any idea how to regain its growth.

Careful with your spelling...Lowes is the home improvement retailer. I assume you're referring to Loews, the hotel & insurance, etc company.

Their Book store needs some work on they layout, IMO. Google has struggled with commerce-type endeavors and I think it will take them some time to get this right. They have the right idea, but lacking in execution. -In my opinion, iBooks is the best/most intuitive reading app/program out there. The problem is the book selection on the App Store is currently nowhere near Amazon's. I end up using the Kindle app on my iPad a lot only because Amazon seems to have almost every book I look for for the Kindle. If Apple has books at the same price, I always buy it through iBooks.

Not to derail this thread, but i still have a hard time understanding how LVLT is a 'value play'. The company makes no profit and has a ton of debt. There will be plenty of time to buy the stock if they ever figure out how to actually make money.

People have been saying that since the stock was around $60. I don't own any NFLX and agree it seems quite overvalued on a P/E basis. I think it's potential as a takeover target makes it a difficult stock to short. Companies like Apple, Google, Microsoft etc would love to have their business. If the stock got low enough, I think they'd see an offer. That said, I do think companies like Apple could replicate Netflix's service for far less than $10 Billion (NFLX's current market cap) without taking on all Netflix's physical distribution centers.

Probably the worst 'trade' I ever made was buying AMD several years back at around $45. I sold it a few years later at under $5. I obviously held it way longer than I should have, hoping it would come back. I bought a pretty big (for me) position in GE at around $30. Scaled out of it on the way down and sold completely out of it at around $16.40. The third really bad trade I made was buying ABK (Ambac) a few years ago. Started a relatively large position in it, and woke up the next morning to find it down 30%. That trade really changed my investment style. I remember worrying that night about the stock, and it kept me up that night. I now only buy shares of companies that won't keep me up at night. I've fortunately made enough good investments to more than make up for these mistakes. Other than these, probably the things I feel were the biggest mistakes were stocks I was close to buying that I didn't buy, only to see them increase by several hundred percent.

I think I have a crush on Erin Burnett. :)

Distribution isn't really free...that's basically what they're paying companies like Level 3 and Limelight for.

A parody of Warren's letter by Barry Ritholtz: http://www.ritholtz.com/blog/2010/11/dear-uncle-sucker/

I'm not familiar with Gary Shilling, but before the collapse, in around 2007, I really can't remember many people predicting a financial and housing collapse, but now it seems like every day I read a profile of different people credited for predicting the collapse. I guess most of the talking heads say enough completely different crap on a daily/weekly basis so they can always look back and make it look like they predicted everything. *edited to fix typos.