Hawk4value

I have a last minute conflict which unfortunately forces me to cancel my plans to come to Toronto. My ticket is available.

Constructive, I have been a long time holder of MIL (MFC Industrial). Can you expound on your particular reasons for holding it. I am using it as an inflation hedge, a distressed buyer of commodities, and as a book value investment. It seems this will play out but will take a while. Thanks.

The Washington Post article below discusses Obama's efforts to encourage banks to again make mortgages to highly risky credit individuals. I guess here we go again. http://www.washingtonpost.com/business/economy/obama-administration-pushes-banks-to-make-home-loans-to-people-with-weaker-credit/2013/04/02/a8b4370c-9aef-11e2-a941-a19bce7af755_story.html

The government at this time can choose not to do much and just let nature take its course and let those who have recklessly borrowed more money suffer. The result would be that economy would take a much sharper downturn....The problem with this approach is that it would cause tremendous suffering....There is a moral component to this line of reasoning. Suffering, like greed, in a capitalistic system is a necessity for the system to work properly. Why?? Because human beings are prone to excess. The excess, when it occurs, has to be purged. Now you can choose to let nature takes its course, or you can inject all kinds of bandaids, the most insidious of which is the printing of money. If you want to discuss morality, lets talk about the responsible people who worked, saved, were underleveraged, and had a cash cushion to get thru the crisis. These people, their wealth, are being wiped out because their money is being devalued, and they cannot get a reasonable return on their cash without undue risk because of rate suppression. In order to live, these people have to spend their principle. How moral and fair is that. Now who benefits: the politicians keep their jobs; and the financial types game the system and make extrordinary amounts of money. You have heard of the $50mil to $90mil dollar condos in NYC. Who do you think are buying these properties.

I disagree. Keeping the "gifted" kids together with the rest of the class not only keeps them grounded and teaches them patience, it allows them to develop other skills such as relationship building, teaching other students, and communication skills. The above is the politically correct mantra espoused by the Federal Gov't run US educational system and is based and motivated by a need not to make less gifted children feel "inferior". Well the reality is that some people are more gifted than others, period. Face up to it. Holding these people back because of the "feelings" of the other less gifted is a detriment to the advancement of our culture and society. I suspect this dumbing down phenomena is why America's educational system is scrapping the bottom of the scale versus other developed countries.

The article seems to be saying that NBNK is a publicly traded SPAC that Ross bought into for 39 pence/shs. Anyone know if it trades and where??

I am sure Ron is a very intelligent guy. But it seems he has a problem with banks only issuing mortgages to people with 720 and above, and 20% down. Well, hello Ronnie!!!! That's what banks are supposed to do: make responsible mortgages so the system doesn't crash again. Mortgages are supposed to be hard to get, not easy. It is a priviledge to buy and own a house, not an entitlement. Home ownership is the largest contingent liability for the vast majority of people and should not be entered into lightly.

Interesting, Buffett seems to be fixated on taxing the rich without making it part of an overall solution to our massive deficit problems. Strange that he almost never talks about entitlements or the fact that the Fed is a massive enabler to prolifigate spending by keeping interest rates artificially low. He has squandered many opportunities to be a rational voice in a sea of irrationality, only to fall back on partisan rhetoric. I can only deduce that his incredible guilt feelings about being rich and talented in his chosen profession, has clouded his better judgement. Very disappointing.

Did tax rates stop Gates from building Microsoft, or Buffett from building Berkshire Thats a good point. Personally I believe both political parties are atrocious. But I would rather vote for the party that advocates lower taxes, lower deficits, individual liberty, less gov't intrusion; then the party that openly advocates higher deficits, more spending and money printing, higher taxes, more gov't control over our lives. Pick your poison.

Amen. Churchill was a true genius. He had a true understanding of market systems and private enterprise.

FYI: Israel A. Englander thru his ICS Opportunities Fund, which he manages thru Millennium Management, holds approx 11% of Chanticleer: 222,222 common shares and 222,222 warrants, which can be exercised at $5/share. Probably participated in the recent $11mil capital raise.

Happy Brithday and thanks for everything you do.

Hilary Clinton is a complete lightweight and has no business being Secretary of anything. She was a nothing Senator from NY, she was a nothing lawyer from Arkansas, and she was a disruptive First Lady whose biggest accomplishment was the healthcare boondoggle. She should retire in 2013 and go home wherever that is.

I hate to say this but the incredible gov't spending and the unprecedented o% manipulated interest rates have simply delayed the additional pain to come. Make no mistake the system will continue to correct regardless of what the gov't does, and the "pain" will continue in earnest. Its unfortunate that our politicians refuse to allow a quicker correction because they find reelection more important. The pain will continue, and the finger pointing by politicians will escalate in order to deflect blame for this fiasco.

moore_capital54, The companies you mentioned are not headquartered in any of the troubled PIIG countries. In your opinion what would happen to the valuations of companies located in the PIIG countries that exit the EURO, like Total in France??? It seems like Total's valuation is unduly depressed. Could it be France's possible exit from the Euro??