bookie71

Read the letters here first: http://www.berkshirehathaway.com/letters/letters.html I consider the earlier letters best as WEB didn't have so much to invest at the time. CB P.S. They are all good.

You should talk to a Canadian tax person.

I think we need much more info as to what you are trying to accomplish. A proprietorship indicates that it is an active business in which case you could loose your capital gains advantage. The only "proprietorships that I've seen are from "day traders" trying to deduct their losses.

For us ludites, what is a feed?

Since each message and reply is dated, you can go to Yahoo or another source and check the price if you need the start price.

I am one of the older members, and in the past I have had many folks tell me that I have a "boring" portfolio, after the last 2 big drops, I have noticed a bunch of those folks listen and have bought some of my stocks (I know as I do their taxes and see their year end statements). I have also noticed that I will be flat for sometimes up to 2 to 2 1/2 years and will then have a surge of up to 2-300% in a short period. Patience, contrarianism (not sure this is a word) and common sense are the keys. You can't teach common sense, I have known several geniuses who were what my father called "educated idiots". jmho and worth what it cost (nothing) ;D

Short the holders of the loans on the real estate (unless the government decides to bail them out).

IF you think it is going through, then there is a nice arbitrage opportunity.

If you want to understand banks, then read up on your local and regional banks. The statements are much easier toread and the numbers will tie to your local economy.

THANKS!!!!!!!!!!!!!!!!!!!!!!

But I can't wait to tell my wife how rich we are tonight - our net worth just doubled because I think Loews is worth twice what it trades for! ..Be careful, she will want you to buy her a new fur coat ;D ;)

Fraud must be a huge problem. Yesterday, I ordered some software online, and before I had even opened the email acknowledgement, Visa called to confirm as the software company had sent a $1.00 hold on the account to verify it was a good account. Those folks are scared.

Insert Quote The tough question surrounds his deferral of ever having to pay taxes on his berkshire investment. . . I beleive he has stated several times that Berkshire is not the preferred enitiy for his type of investments.

Costco said it has been facing a lot of inflation pressure in the last two months.

I have had the stock for many years and what I like is when they don't need the cash they will pay a huge dividend to the stockholders instead of setting on the cash (They did this a few years ago).

Pyle and White (now has another name) was a good one. Most any should be good.

Go to a used book store and buy a copy of any good elementary accounting book.

In the 1960's tax rates went to 90% and were graduated, so the effective rate was usually somewhat lower. Many folks would work to a point, then literally stop working. I believe it was JFK who started lowering the top rates and it has continued. I'm not sure what is right, BUT social security and medicare are huge anymore aond often higher than the individual taxes (especially if you add in the employer match). It is really obvious on the self employed where they get to pay both parts of ss and medicare.

I have subscribed for many years and often go back and read the older issues, it is particularly helpful having 20/20 hindsight.

Let's see, I sold Fuller Brush, worked in a feed store, mowed yards, shoveled cow manure, milked cows (by hand), construction, proof read (at a print shop), sold Christmas trees, worked as a janitor in a dorm and did taxes part time for a CPA. All of these helped me in investing as they all help me spot the BS factor. All were prior to getting out of college and most were two jobs at a time and got a BS in 3 years and MS in 4 along with a working wife and 4 kids. THESE ARE NOT LOW END JOBS BUT TRAINNING!! We made sure our kids worked while in college, but not as much as we (SWMBO & myself) did. They have all thanked us for it and are doing well. I know many others who worked much more than we did, but it was our generation and very few student loan programs. Bookie P.S. Read the "Millionaire Next Door", you might be surprised at the janitors, etc who are wealthy.

Sometimes insiders have kids in college, parents in nursing homes, and other uses of the money.

If I remember my basic accounting, an asset is simply a resource that can be utilized by the entity.

If you google "special dividends 2010, It seems a lot of companies are doing the special dividends.

oops that's FBAK.OB

First National Bank of Alaska (FNBK) just declared a special October dividend of 100 in addition to it's regular 4th quarter dividend of 25.