QLEAP

Wishing you all a Merry Xmas and a prosperous 2012 ! cheers qleap

"We have on occasion owned a small amount of default protection on Bank of America debt as part of our overall portfolio hedging strategy through which we hold credit default swaps on a diverse group of financial institutions and other corporate issuers," the memo said. "We currently have no long or short position in equity, corporate debt, or credit default swaps of Bank of America or MBIA." http://newsandinsight.thomsonreuters.com/Legal/News/ViewNews.aspx?id=34462&terms=@ReutersTopicCodes+CONTAINS+%27ANV%27

Fantastic read, very well laid out. It is hard to see how he does not get elected to the Board with this..

Down 4.35% as of today and that's because of the rally over the past week or so. I was down about 35% early Oct and was fully invested, so all I could do was grin and bear it. Markets are still volatile, so I dunno where its going to end up on Dec 31st. But I *think* I am positioned well over the long term :)

That's an insult ! Err, I mean to Kim Kardashian :P

Thanks Jacob. There was also a wealthtrack interview with Tom Russo a few weeks ago. Fascinating to see different investing styles. Holding Nestle since 1987 through all twists and turns - that takes patience !

http://www.winamericacampaign.org/ I think its just a matter of time ...

A "good" market timer, he is not :P But it sure does work out well for him in the end :)

Jim Grant's Interest Rate Observer in June (free) was an interesting read regarding Aus bubble http://www.grantspub.com/archives/free.cfm?nid=686

My investing notebook posted a parody on the Recession from the meeting ! http://myinvestingnotebook.blogspot.com/2011/07/mungers-paradoy.html

http://www.marketfolly.com/2011/06/bill-ackmans-presentation-on-family.html

To last for 37 years without blowing up your firm is an achievement by itself ! And to beat the S&P by 1.4 points net over the same period is amazing. Not everyone is Warren Buffett or a Prem Watsa ..

74% ?! This just made my day. Way to go Mohnish and Prem !!

Loved reading this one, very funny. http://www.levyharkins.com/speech.html

Found it on scribd http://www.scribd.com/doc/30813201/Fairfax-2010-AGM-Slide-Presentation

Fairfax ;)

Wow, I am overwhelmed looking at the pics.. Fairfax team is the best ! Thanks for sharing the pics Alan and Thanks to you Sanj for the fantastic board.

Marlin, Great pictures, thanks for sharing !

And it's spectacular ! And I keep coming back to the same thought - BRK is too cheap

Thanks, Eagerly looking forward to it. Wonder if he will have anything to talk about the economy

Fantastic achievement Sanjeev, Congratulations and a big thank you ! My only wish/regret was that I had found this board earlier than 2009 - better late than never I guess. I am looking forward to the next decade :) I would sincerely like to thank all fellow members who are generous and share their knowledge day in and day out. Its funny - i was just thinking out loud today that if i had all the money I wanted, would i really be working where I am presently. And I realized that its not the money but the fear of change. hopefully i will find the courage to overcome this. cheers and good luck !

Earnings call transcript at http://www.morningstar.com/earn-0/earnings--22211805-ffh-q4-2010.aspx.shtml

Thanks for the link guys. Its really horrible what these tabloids post to sell a few more copies.

Really sad news if true :( http://www.torontosun.com/news/world/2011/02/16/17305336.html

Yes, we can predict all we want but we will never know till it happens ! My port has run up quite a bit too and the cash makes me sleep well. I am hoping I don't get too antsy waiting for the pullback and do something stupid with the cash :)