bookie71

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.

FBAK LUK BRK.A BRK.B Fairfax DJCO FRS LOJN :'( WSC & CASH

Fairholme, as good as Bruce is, has gotten way to big to assure extraordinary returns, especially with the fees and the constraints that mutual funds have. BRK has a great culture and so does FFH. Both organizations are obsessively focused on Rule # 1. Plus, there's almost no rakeoff that will be a big drag on compounding. . The "founder's effect" says that if heirs inherit assets invested in aparticular way, they are likely not to make a change. You could keep most of your investable assets in BRK & FFH ( subject to change if there should be a drastic change in the culture of either, And ask your heirs to do the same, subject to the same condition . . So far that is what I have done.

As the 2 condors said in the Larson cartoon, "Patience, hell, let's kill something." I'm patient, but Fairholme's recent progress hasn't been very impressive. I used to understand his logic, but lately it seems almost desperation.

From BPL letters and the Snowball is clear that Warren distributed to himself shares of BRK, DRC and Blue Chip Stamps. So he was completely invested even if he closed his partnership. But didn't he give his partners first choice and he took what was left?

What percent of the company does Eddie own? Thanks CB

That isn't the problem, our heirs (kids) do a good job of managing their money. They just aren't interested in reading 10-K's etc. They have other interests and do well in their chosen fields. I had hoped Fairholme was the one and purchased some in October 2007 and even with reinvested dividends it is down about 7%. Any suggestions.

I have the same problem, no one has an interest in managing money. I have been searching for mutual funds to start moving our assets into, but haven't been real impressed with most of them.

Based on the past history what is to stop him from changing the 25% to 75% later in the year? Feel free to invest (gamble) your money anyway you want, I wish you lots of luck, BUT I will invest my $ elsewhere with someone I feel comfortable with. Chuck

Leucadia defiined the term "lumpy earnings" ;D :D

Remember the three biggest lies: 1) Your check is in the mail 2) I'm from the government and I'm here to help you 3) I forget (getting old)

I too like NICK. I bought it prior to crash and really loaded up when it got to the 2-3 dollar range. I think it should get to 10-12 before it starts to be fully valued. That is my 2 bit opinion and it is worth exactly what it cost you.

For what it is worth (from an old f--t's memory), It was called the Go Go Era, the fund managers were called "gunslingers" and every fund had to have the "nifty fifty". Most of the funds were proud of their short term trading. After the bust, you could shut your eyes and throw darts and find great companies selling at PE's of 2-3.

Don't forget that Bufett is a Democrat ;D

The food is good, but we always felt the decor was a little too "plastic" for us.

Over the years, Business Week has been a great contrarian indicator.