bookie71

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.

Junior Achievement used to be great, when our oldest went through it, they had to come up with a product, sell shares, business plan and could go broke. One group (not his) made caskets for the county indigents and paid a nice dividend and taxes :'(. When the youngest went through it they had to pick one of Jr. Ach. products and follow their business model. They have removed the chance to go bust - not realistic.

My only problem is the short term aspects of the clubs . 3-6 months only rewards the "gun slingers" not the "value' plodders.

Bronco, No, he was born in 1969. 71 was my highschool football jersey number. I am a CPA and many of my clients call me the "bookie", I added the 71 since many boards seemed to have a "bookie" already, but so far noine have had a "bookie71". Chuck P.S. Our oldest was born in 1962, but I couldn't be that old. ;D

My youngest son and I are driving a motorhome from Iowa to Anchorage and I have been amazed at the amount of truck and rail traffic we have seen on this trip. No statistics only our observations. CB P.S. Since he is 40, my wife says I'm no longer allowed to say I'm middle aged. ;D :D ;) :)

My guess is that political, and rhetorical skills are more useful in rising to the top of a large corporation, than general intellect or business skills. . . Agree, it's how good a politician you are.

I see the sharks are already circling: http://www.rigrodskylong.com/news/WescoFinancialCorporation-WSC Can you sue the attorneys for reducing your book value?

Munger made a point of reminding the last Wesco audience that Wesco's independence was by accident. I think The Snowball reported that the former owner required its independence, and Munger's leadership, as a condition of the sale (I might have remembered wrong!). He said that he and Warren had wanted to fully incorporate Wesco years ago, but that "groupies" drove the price to unreasonable levels. Posted on: Today at 06:29:15 PMPosted by: rick_v . . That's why I asked earlier about Mrs. Peters.

What happened to Mrs. Peters?

90% of their Heely's is restricted so they probably can't sell unless they go through a registration.

First they handle their money prudently. They just are interested in other things than investing and are fairly sucessful in their chosen field.