dcollon

http://www.bloomberg.com/news/2012-10-25/berkshire-said-to-win-rescap-loan-auction-with-1-5-billion-bid.html

Congrats to you guys who stuck with this and bought more. What a nice move! Happy for Francis too

Thanks for posting the letter

http://www.gothamabsolutereturnfund.com/

It's likely Weschler since he owned DaVita in his old partnership http://www.businessweek.com/news/2011-09-12/buffett-hires-weschler-to-help-manage-berkshire-s-portfolio-3-.html "Peninsula had about $2 billion in the stock of nine companies as of June 30, the firm said in a regulatory filing. The holdings included investments in satellite television provider DirecTV, specialty chemical-maker W.R. Grace & Co., and dialysis facility owner DaVita Inc., the filing showed."

Thanks for posting

Thanks for the heads up. I'm hoping since Carol put the book together it will be a good one.

Awesome video. Thanks for posting.

Take a look at the link below. The fourth video is a discussion between Ackman and Clayton Rose. The discussion about the GSE's start about 7:15 mins in the video. http://www.gurufocus.com/news/121785/michael-porter-bill-ackman-and-clayton-rose-interview-with-cnbc I hope that's what you were asking about Green King.

News headline this morning on SHLD: FTC grants antitrust clearance for transaction between Ed Lampert's ESL Partners and Sears Holdings Monday, September 24, 2012 09:04:31 AM While the FTC does not disclose the nature of the transaction, StreetAccount notes that antitrust clearance is required when investments reach certain thresholds based on the size of the target company. StreetAccount notes that Lampert has been active in buying the stock in the last month, disclosing a 2.4M share purchase on 6-Sep.

There is a See's stand in an upscale grocery store near my house, so instead of taking wine or some other useless trinket to parties, a few months ago I started arriving with something from See's. Most people don't recognize it, but they end up loving it. My favorite recently was chocolate covered peanut brittle. And the best part about the whole thing is that the store always has a 50% off sales table to move whatever is about to hit "expiration". I bought a one pound box (that usually costs $20 at the store and $17ish at See's online) for $10.

Thanks for posting the article. I always enjoy reading his stories and commentary.

I know it's mentioned in the article, but how long do you think it will be before commentators stop saying that "buffett bought" this or that when it really isn't him. http://www.bloomberg.com/news/2012-09-14/berkshire-posts-25-intel-gain-by-shunning-buy-and-hold.html

Could be Rimm. It has been very hard to keep track of all the changes.

There was a second Form 4 filed the day after the original one and it looks like the shares weren't really bought they were just moved. Comment below is from a different release. The second form 4 is attached. "Following the transactions reported herein, the aggregate beneficial ownership of Shares by Mr. Lampert, Partners and their affiliates remained unchanged. As previously disclosed, Partners and Mr. Lampert have no pecuniary interest in the Shares held by ESL Investors L.L.C." SHLD.pdf

Form 4 from ESL attached ESL_Form_4.pdf

giofranchi, I have attached some charts with fund flows in the hedge fund area. Hedge_Fund_Flows.pdf

giofranchi, I haven't seen numbers recently on hedge fund flows, but I will try to find some.

I thought the attached was an interesting chart. The continued money flow out of US equities is interesting to see. Chart_of_the_Day.docx

Interesting story. Thanks for posting it. Regardless of intent/legality, I'm always impressed with peoples ability to opportunity.

Those are fantastic. I can't stop watching them. Thanks for posting.

Einhorn family in the VC business (see attached from NYT) Far_From_Wall_Street_and_Silicon_Valley_a_Focus_on_Family_Ties_-_NYTimes.pdf

Warren Buffett increases stake in Lee Enterprises Thursday, August 16, 2012 01:52:00 PM Aug. 16--Warren Buffett's Berkshire Hathaway Inc. has nearly doubled its stake in newspaper publisher Lee Enterprises, the parent company of the St. Louis Post-Dispatch. Lee's shares jumped nearly 20 percent on the news Wednesday, closing at $1.59, up 26 cents. In a filing with the Securities and Exchange Commission Tuesday, Omaha-based Berkshire Hathaway, disclosed that its stake in Lee Enterprises has grown to 3.23 million shares, about 6 percent of shares outstanding. In June, Berkshire's ownership stake in Lee totaled 1.7 million shares, according to regulatory filings. Buffett, who three years ago said he wouldn't touch a newspaper stock, has recently has been beefing up his investments in them. The famed value investor favors small-city newspapers that he feels have deep ties to their communities and more limited competition. Except for the Post-Dispatch, all of Lee's 52 newspapers are in small cities and towns. Newspapers are selling at a third of the price of a few years ago, depressed by continuing declines in print advertising and circulation. But newspapers still turn out operating profits equaling 10 percent or more of revenues, notes long time newspaper industry analyst John Morton. "There are industries that never expect 10 percent margins in the best of times, and newspapers are doing it in their worse times," he said. That combination of low stock prices and respectable margins are what attracts Buffett, says Morton. Lee Enterprise's operating margin is 14 percent, according to a recent SEC filing. Would Buffett like to own Lee? "It wouldn't surprise me," said Morton. Lee spokesman Dan Hayes says Buffett has not contacted management nor made a purchase offer. "Warren Buffett is a very welcome investor," he said. Buffett's stake in Lee stock is worth about $5.1 million, which is small potatoes to Buffett and his company. Last November, he bought $85 million of Lee debt, paying 65 cents on the dollar, according to a Wall Street Journal report. Lee has been paying down $926 million in debt, most of it taken on in its 2005 purchase of Pulitzer Inc., which included the Post-Dispatch. The stock price has fallen from the $45 range in 2005 to $1.59 on Wednesday. The company refinanced its debt through a "pre-packaged" bankruptcy filing last winter, in which its shareholders retained 87 percent of company stock. The company lost $13.3 million through the first nine months of its fiscal year, compared to a $140 million loss a year earlier.

Article in Barron's over the weekend. Hidden_Value_at_Edward_Lamperts_Sears_Holdings_SHLD_-_Barrons.pdf

From NewYorker http://www.newyorker.com/reporting/2012/08/13/120813fa_fact_gawande?printable=true