dcollon

Sure is interesting to watch SHLD on a day to day basis...

http://www.bloomberg.com/news/print/2012-01-19/days-of-easy-money-over-for-fund-managers-commentary-by-alice-schroeder.html

http://www.bloomberg.com/news/2012-01-17/yahoo-says-co-founder-jerry-yang-resigns.html

I'm sure more will come out, but... http://www.bloomberg.com/news/2012-01-11/buffett-challenges-republicans-to-donate-to-u-s-government-time-reports.html http://swampland.time.com/2012/01/11/warren-buffett-to-mitch-mcconnell-put-up-or-shut-up/

http://www.bloomberg.com/news/2012-01-10/chase-coleman-channels-ancestor-stuyvesant-with-45-robertson-like-return.html

http://video.cnbc.com/gallery/?video=3000065411

http://www.bloomberg.com/news/2012-01-10/berkshire-s-combs-hands-gain-to-buffett-by-increasing-bets-when-picks-slip.html

Lampert Group Cuts AutoZone Stake by 42% Amid Redemptions, Reorganizations http://www.bloomberg.com/news/2012-01-04/lampert-group-cuts-autozone-stake-by-42-amid-redemptions.html

Always fun to read Bill Ackman's comments. Thanks for posting the response.

Here is a letter from CP that was filed in a 6-k. CP_Letter_to_Pershing.pdf

Very fun to think about... Thanks for posting.

http://www.bloomberg.com/news/2011-12-29/princeton-brews-trouble-for-us-1-percenters-commentary-by-michael-lewis.html

Attached are some of the numbers over the last 20 qtrs. BAC_last_20_qtrs.xls

I think it's important to remember that a significant amount of the money in the partnership is Mr. Lampert's. In addition, much of the rest is long time clients (Dell, etc...) and most of it is family money, which is much more sticky that fund of fund or institutional money. I have been told that they aren't completely closed, but my guess would be that if Mr. Lampert wanted to raise more capital he probably could. A run on the fund isn't out of the question, but I would think it's a lower probability. And most lockups don't roll, however some do if you contribute new capital at a later date.

Attached is some data regarding the pensions that I thought might be helpful. FBK_Pension.xls ABH_Pension.xls

http://www.bloomberg.com/news/2011-12-21/bank-of-america-to-pay-335-million-to-end-countrywide-fair-lending-probe.html

Combining two threads here quickly, but maybe this helps the 4th quarter. It's also a great thing to see. http://www.lancastereaglegazette.com/article/20111221/NEWS01/112210303/Donors-pay-off-Kmart-layaway-accounts?odyssey=tab|topnews|text|Frontpage http://abcnews.go.com/Health/Wellness/complete-strangers-touched-altruistic-layaway-angels/story?id=15199745#.TvIls_Le58E

Thanks for posting the link.

http://www.bloomberg.com/news/2011-12-16/berkshire-invests-in-1-8-billion-nrg-project-as-buffett-adds-to-solar-bet.html

http://www.arpllp.com/core_files/The_Absolute_Return_Letter_1211.pdf

Sell it...quickly :)

http://www.bloomberg.com/video/82431734/#ooid=J2Zjc0MzpoXU3leEgpW7bRrdzsJ_Uio7

From Jason Zweig Why_Surveys_Cant_Predict_the_Future_-_Total_Return_-_WSJ.pdf

On a relative basis, Bill Ruane did poorly for the first 5 years when he setup the Sequoia Fund for Berkshire Shareholders. Obviously the early to mid 70's were tough, but he clearly picked up steam starting in '75.

http://www.bloomberg.com/news/2011-12-07/alliant-energy-seen-luring-warren-buffett-in-midwest-power-play-real-m-a.html