berkshiremystery

Great interview. But i didn't knew, his book only sold about 5,000 copies... lol I'm the lucky owner of the actual hardcopy, and only paid some years ago... something below or around $200, a real bargain. ::) Guy Spier, who is also an owner of it, seems to hide it at a secret place... as he couldn't find it on his book shelf in his Zurich office. ;D

well,... i guess, you were rolling eyes over this letter... ::) ;D We should thank Andrew Ross Sorkin for getting a hold on this letter. Cheers!

Here's a free 60 page Hedge Fund Report.... Baupost, Berkshire, Fairholme, Tiger, Paulson... et al Hedge Funds 13F filings as of 3rd Qtr. 2011 http://www.scribd.com/doc/74048699/Hedge-Funds-13F-Filing-3Q11 Hedge Funds 13F filings as of 2nd Qtr. 2011 http://themacrohedge.com/wp-content/.../09/Hedge-Fund-Intelligence.pdf -------------------------------------------------------------------------------- source of reports: "Street of Walls" A community of Wall Street Investment Bankers, Hedge Fund, and Private Equity professionals http://www.streetofwalls.com/ http://seekingalpha.com/author/street-of-walls

Billionaire hedge fund manager Leon Cooperman wrote an open letter to the U.S. President <snip>... Leon G. Cooperman, C.F.A. Chairman & Chief Executive Officer of Omega Advisors, Inc. OPEN LETTER TO THE PRESIDENT OF THE UNITED STATES OF AMERICA November 28, 2011 President Barack Obama The White House 1600 Pennsylvania Avenue, NW Washington, D.C. 20500 Dear Mr. President,... ....</snip> please find below the full text of the letter (PDF-file): http://tinyurl.com/7e83bra

I just googled the term: "IPIC GROUP LTD." "244 Fifth Avenue".... together and it only appears with 2 results. and if used only with the term: "244 Fith Avenue"... it appears with over 2,750,000 results.... LOL ...the 3rd result is some postal mail forwarding service,... hmmm ::) http://www.nymail.com/postalMail.html so it seems they use some mail drop there it looks not like some serious hedge fund. neither could i find anything in the SEC filings about IPIC Group Ltd or Maartens, yet.... http://www.sec.gov/edgar/searchedgar/companysearch.html

well, moore_capital54,... I asked myself the same question about him, and his size of his net worth. since i came up with his name, today, for the first time, while i googled the term IPIC Group. My quick guesstimate is around $100 million more or less. He doesn't appear to be on any billionaire list yet. But he might have some other co-investors. So I would myself add some caution about this and how this story with IPIC developes. ----------- According to wikipedia, there are 6 billionaires in South Africa: http://en.wikipedia.org/wiki/Category:Billionaires_by_nationality http://en.wikipedia.org/wiki/Category:South_African_billionaires

I enjoyed Guy's interview very much,... watched it twice, a thing which I rarely do. I didn't knew that he shared tutorials with David Cameron, the British prime minister, as students in Oxford. <snip>... Cameron then began his Bachelor of Arts in Philosophy, Politics, and Economics (PPE) in Oxford. His tutor, Professor Vernon Bogdanor, described him as "one of the ablest"[32] students he has taught, with "moderate and sensible Conservative" political views.[8] Guy Spier, who shared tutorials with him remembers him as an outstanding student; "We were doing our best to grasp basic economic concepts. David - there was nobody else who came even close. He would be integrating them with the way the British political system is put together. He could have lectured me on it, and I would have sat there and taken notes.."[33] When commenting in 2006 on his former pupil's ideas about a "Bill of Rights" to replace the Human Rights Act, however, Professor Bogdanor, himself a Liberal Democrat, said, "I think he is very confused. I've read his speech and it's filled with contradictions. There are one or two good things in it but one glimpses them, as it were, through a mist of misunderstanding". ...</snip> source: http://en.wikipedia.org/wiki/David_Cameron#Education here's also some good other interview of Guy Spier from the Manual of Ideas: http://www.manualofideas.com/guyspier.pdf

Is the offer still good? Why isn't this being arbed? If I would ask this question myself, I would probably say, it's because they buy only 5% of the outstanding float, and thus it might be too insecure for regular arbitrageurs. they might invest with higher probabilities of downside protection in full 100% takeovers, like Lubrizol. And with downside protection, I mean, arbitrageurs lust for short term downside protection. we longs rather wait for the long term exceptional rewards. Cheers!

Well,... it depends,... the days prior to the announcement of the tender offer on November 22, and the incorporation of the Delaware entity on October 4th, BAC traded higher, near or around $6 a share. The average daily traded float was around 250 million shares. If he buys 25 million shares a day, it would take about 20 trading days to accumulate the target amount.

I saw this, but I have no more information than anyone else. The random Travelzoo offer a few months ago comes to mind... A Delaware entity search indicates that IPIC Group Ltd. was formed on October 4, 2011 of this year, but I must confess that my cyber-sleuthing skills end here, lol. -------------------------------------------------- A "Yellow BRK'er" is the reclusive person behind the $ 3 billion BAC tender offer Good Afternoon folks,... 8) I saw in the previous board thread "BAC Investor Pool", a question by our board member "merkhet" about who's behind the $ 3 billion BAC tender offer. I might surprise you all, if I might say it should be some "Yellow BRK'er". The guy is named "Rian Maartens", a businessman from Cape Town, South Africa. Marteens is the founder, owner and CEO of IPIC Group. He also is a Buffett devotee, studied him, and founded the Warren Buffett International Fan Club in South Africa. Rian was an attendee at Robert P. Miles "Value Investing Conference" in Omaha. He was also at a Yellow BRK'ers gathering at the BRK 2008 AGM and was at Gorat's in Omaha. I guess nobody did notice him... LOL ;D Just in case that you all need more information, I used my sleuthing skills again. ;) Here are more links about Rian Maartens and IPIC Group. Enjoy! Omaha 'Woodstock for Capitalists' 2008 @ Picasa Web Albums https://picasaweb.google.com/Shapirodaviduk/OmahaWoodstockForCapitalists2008 Tim Dean Smith, Rian Maartens and David Shapiro at Gorat's in Omaha. https://picasaweb.google.com/Shapirodaviduk/OmahaWoodstockForCapitalists2008#5199109331490415842 David Shapiro, Tim Dean Smith, Sham Gad, Rian Maartens, Marcelo Lima, Ruben Henriques and Gareth Henderson. https://picasaweb.google.com/Shapirodaviduk/OmahaWoodstockForCapitalists2008#5199109464634402034 -------------------------------------------------- IPIC Group Ltd. - Delaware - official website - about <snip>... IPIC Group Ltd. is a newly formed private investment firm organized in Delaware for the sole purpose of making the Offer. The company is privately held and not generally subject to the information filing requirements of the Exchange Act. ... </snip> Notice of Offer to Purchase for Cash Up to 500,000,000 Shares of Common Stock of BANK OF AMERICA CORPORATION at $6.00 Net Per Share by IPIC Group LTD. http://www.ipicgroupltd.com/ -------------------------------------------------- YouTube Video (1:09min) IPIC Group Offers to Purchase up to 500 Million Bank of America Shares at $6.00 (BAC) November 22, 2011 http://img832.imageshack.us/img832/3200/newpicj.jpg -------------------------------------------------- IPIC Group (Pty) Ltd - official website Cape Town, South Africa <snip>... Since 1982 Mr Maartens and his family have developed and invested in commercial property. The first developments in 1982 were the Heritage House office building in Claremont and the Kenridge Shopping Centre in Kenridge, Durbanville. In 1988 Rian bought his first property and made more money passively in one year than working 12 hours per day in his music recording studio. A love affair with property started and in 1991 he passed the Estate Agents Board Exam and founded Romprop as property agency. In 1992 Rian was awarded the “Top Student” award for the Associate in Management (AIM) Programme at the University of Cape Town (UCT). In 1998 Rian became involved with the strategic asset allocation of the family business and in 1999 he completed the Masters in Business Administration (MBA) Degree at UCT. In 2004 Romprop became Ipic and Rian founded the Ipic Group with various companies. In 2007 Ipic Properties purchased Rian’s family property portfolio. As Chairman and CEO of Ipic Group, Rian continues to expand the group’s property portfolio. His passion is teaching others what he has learnt, providing free newsletters about property, Warren Buffett and daily news and creating software to get connected, to get going and to optimize property investments. ...</snip> company profile of owners http://www.ipicgroup.com/company_profile.php company overview http://www.ipicgroup.com/company_overview.php and company contact address: http://www.ipicgroup.com/contact_us.php -------------------------------------------------- Warren Buffett International Fan Club - South Africa founded by Rian Maartens - official homepage http://www.warrenbuffett.co.za/ Rian Maartens (email) - Founder & Executive Editor Marissa Knibbs (email) - Newsletter Editor Martin Cronje (email) - Website & Technical contact emails at the following page: http://www.warrenbuffett.co.za/newsletter27_ie.htm -------------------------------------------------- Rian Maartens was also an attendee at Robert P. Miles "Value Investing Conference" in Omaha. http://www.valueinvestorconference.com/aboutVIC.html http://www.valueinvestorconference.com/about.html IPIC Media & Education has co-hosted the 2nd South African Value Investor Conference on 29 October 2008 in Johannesberg and on 31 October 2008 in Cape Town with Robert P. Miles. http://www.warrenbuffett.co.za/vic2008/index.htm -------------------------------------------------- Rian Maartens - private homepage http://www.rianmaartens.co.za/ Rian Maartens @ Linkedin http://za.linkedin.com/pub/rian-maartens/1/55/b18 http://www.rode.co.za/images/conference_2005/previews/R_Maartens_K_Scott.jpg Rian Maartens http://www.rode.co.za/images/conference_2005/previews/R_Maartens_K_Scott.jpg http://www.rode.co.za/events/gallery_conference2005.php Rian Maarten's @ SouthAfrica PropertyInvestor.co.za... http://www.sapropertyinvestor.co.za/newsletters/newsletter_050902.htm --------------------------------------------------

Just for a matter of fact, I sleep very well, being a long in BAC. I also had a couple of days ago purchased the January 2014 LEAPS. If BAC dives Fairfax-like-something (like that $57 day), you would see me on the buying side adding more, with both the common and the LEAPS. :) Cheers!

Here's just a minor off topic note about BAC: ;) Malcolm Gladwell becomes BAC’s new spokesman. http://www.washingtonpost.com/blogs/blogpost/post/malcolm-gladwell-bank-of-americas-new-spokesman/2011/11/16/gIQAAE0ASN_blog.html Malcolm Gladwell, is a bestselling author, a Canadian journalist, and a staff writer for The New Yorker. He has written 4 books, "The Tipping Point (2000)", "Blink (2005) ", "Outliers (2008)", and "What the Dog Saw: And Other Adventures (2009)". All four books were New York Times Bestsellers.

Fairfax bought 500,000 additional common shares of MEGA Brands, bringing its total holdings to approximately 20.7% of the total common shares outstanding. http://www.fairfax.ca/news/press-releases/press-release-details/2011/Fairfax-Announces-Acquisition-of-Additional-Common-Shares-of-MEGA-Brands-Inc1127430/default.aspx

I just saw Mohnish's 3rd qtr filing, he bought over $40 million worth of BAC. Cheers! http://holdings.nasdaq.com/asp/OwnerPortfolio.asp?FormType=OwnerPortfolio&CIK=0001173334&HolderName=PABRAI+MOHNISH

Well, I knew him and followed him for some time, specially after his purchase of the department store chain "Karstadt" out of bankruptcy in 2010 for the symbolic price of 1 Euro. That was some remarkable deal, and I compared it with Eddie Lamperts purchase of Kmart out of bankruptcy some years ago. He probably cloned Lampert more than Buffett with this purchase, on a lucky 1 Euro price that not even Buffett might have gotten in any of his deals. Berggruen immediately provided the Karstadt company with a 65 million euro ($83 million) cash infusion and promised to spend 400 million euros over 5 years to revive the brand -- his highest-profile corporate rescue effort to date. I would guess his initial investment of 1 euro + the 65 million euro cash infusion out of his own pocket might be worth some several hundred millions currently, if he wanted to sell out his stake. Berggruen is a homeless billionaire, because he does not own a home and lives out of hotel rooms. His only major personal possession is a private jet. I would urge everyone to have a watchful eye on Nicolas Berggruen, since he should continue to compound his capital at astonishing growth rates. Cheers! http://www.berggruenholdings.com/ http://en.wikipedia.org/wiki/Nicolas_Berggruen

Here's a list of Julian Robertson's reopened new Tiger funds: TIGER MANAGEMENT LLC 6/30/2011 $331,381,340 33 stocks http://holdings.nasdaq.com/asp/OwnerPortfolio.asp?FormType=OwnerPortfolio&CIK=0001011440&HolderName=TIGER+MANAGEMENT+LLC TIGER CONSUMER MANAGEMENT... 6/30/2011 $1,355,805,169 39 stocks http://holdings.nasdaq.com/asp/OwnerPortfolio.asp?FormType=OwnerPortfolio&CIK=0001385534&HolderName=TIGER+CONSUMER+MANAGEMENT%2C+LLC TIGER GLOBAL MANAGEMENT L... 6/30/2011 $4,760,823,254 43 stocks http://holdings.nasdaq.com/asp/OwnerPortfolio.asp?FormType=OwnerPortfolio&CIK=0001167483&HolderName=TIGER+GLOBAL+MANAGEMENT+LLC TIGER VEDA MANAGEMENT LLC 6/30/2011 $129,615,762 22 stocks http://holdings.nasdaq.com/asp/OwnerPortfolio.asp?FormType=OwnerPortfolio&CIK=0001389279&HolderName=TIGER+VEDA+MANAGEMENT+LLC TIGERSHARK PARTNERS LLC 6/30/2011 $173,957,694 55 stocks http://holdings.nasdaq.com/asp/OwnerPortfolio.asp?FormType=OwnerPortfolio&CIK=0001279471&HolderName=TIGERSHARK+PARTNERS+LLC _______________________________ some news articles about the reopening of Tiger Tiger Sowing Seeds of Growth Julian Robertson Weighs Reopening Firm to Outsiders a Decade After He Shut Fund WSJ - July 21, 2011 http://online.wsj.com/article/SB10001424052748704723604575379563253539910.html _______________________________ Julian Robertson Is Reopening Tiger Management To Outside Investors For The First Time In A Decade April 5, 2011 Read more: http://articles.businessinsider.com/2011-04-05/wall_street/30065689_1_julian-robertson-aum-tiger-management#ixzz1aXVP0CFX http://articles.businessinsider.com/2011-04-05/wall_street/30065689_1_julian-robertson-aum-tiger-management

Mr Market is so schizophrenic, at Paulson fund there might be an exodus of shortsighted investors. The flip side of the coin is that Julian Robertson, at 79, is back in business again, he just recently reopened Tiger Management again. He returned all outside money to investors in 2000. Robertson spent much of his 11 years on the sideline investing his own considerable fortune in hedge funds founded by former Tiger employees. His now reopened Tiger Mgmt raised about $450 million for its new seeding fund just six months after launching it. The Tiger Accelerator Fund seeded about six funds, probably some of his former best Tigers, this seems the best and natural strategy for Roberston at his advanced age, so his reopened Tiger can run on autopilot. Guys what does this tell you, Robertson is back in business again and Buffett announced to repurchase shares. http://www.gurufocus.com/news/145780/julian-robertson-long-us-tech-stocks-aapl-goog-v-ma Julian Robertson @ Tiger Management LLC Portfolio 2011-06-30 http://holdings.nasdaq.com/asp/OwnerPortfolio.asp?FormType=OwnerPortfolio&CIK=0001011440&HolderName=TIGER+MANAGEMENT+LLC

here we can snoop his portfolio http://holdings.nasdaq.com/asp/OwnerPortfolio.asp?FormType=OwnerPortfolio&CIK=0001420192&HolderName=HAYMAN+CAPITAL+MANAGEMENT%2C+L%2EP%2E http://www.haymancapitalmanagement.com/

Just saw Apple put his photo on the main page ! http://www.apple.com/ ------------------------------------------------------- Apple's web site as seen as today, Wednesday, October 5th, 2011 11:38pm EST http://img840.imageshack.us/img840/9167/20111005applecomstevejo.jpg

I just got the news some 5 minutes ago, as I was trying to post on this board something complete different, so weird... suddenly I had a pop-up alert from one of my news apps at my iPhone that did reside next to my right hand. First I thought some complete other reason for the alert, until i saw the message. I was shocked. Sure I knew he was sick and might die, but frankly I didn't expect him to die so early. It's just so spooky that the message tool was his creation, the IPhone. Now I just wonder how many people around the world got a similar news alert about his death with the iPhone. It's mind-boggling. RIP - Steve Jobs :'( :'( :'(

moore_capital54,... :) great that you are back to the board. I always appreciated all your posts. I myself was for some days abstinent from the board, and as I came back I didn't even noticed you missing. Grrrr,.... but somehow after a few minutes, I felt somebody was missing. Searched the last post of yours and saw your little interlectual adventure with our admired board manager Sanj. Just wanted to let you all know that I always enjoyed both of your posts, so don't be ashamed to have a little argument adventure. Gosh,...lol,... I myself would have thought myself into trouble here a couple of weeks ago with my thoughts about Jim Simons, and I felt you were rather right about your opinion about HFT. But guys & dolls, we are all friends here, don't let one different view or opinion make you afraid to post here. I'm looking forward to see your three hundred post mark of valuable research. Cheers ! :)

Derek Pilecki from Gator Capital Mgmt. wrote a great blog article on Buffett's stock repurchase announcement. Pilecki did also an outstanding analysis of Berkshire's book value over the last decades. Cheers! <snip>... http://gatorcapitalblog.com/wp-content/uploads/2011/09/092611BRKbuybackfsu.png ...<snip> link to the full blog article: http://gatorcapitalblog.com/365/signals-from-berkshire-hathaway%E2%80%99s-buyback-announcement/ http://gatorcapitalblog.com/

I always have the feeling that only the best comes out of Warren's mouth if he is getting interviewed by Charlie Rose.

Well, he knows John Houbolt, so he might know all the other guys too. I just saw some days ago a neat TV feature and biography about Jesco von Puttkamer. He worked with Wernher von Braun's rocket team in Huntsville in the 1960's during the Apollo Program. Puttkamer is an aerospace engineer and he is currently a senior manager at NASA, working in Washington.

Marlin,... the increase of traffic to your homepage from Bill Gates and all the other people is because Barack Obama spoke about Debbie on TV. But she is currently out of the office since last Thursday. Try to call her.... lol Her outgoing voice mail message shows some funny humor over making her famous on national TV. --->> “This is Debbie Bosanek. I am out of the office for two weeks, taking advice from my tax consultant.” Of course, I looked at your homepage myself just minutes ago. Well,... but i knew it all over the years, and also your old pages at AOL and GeoCities years ago. Always neat to see old pictures from the early days of the Yellow BRK'ers. Not sure if you know that Buffett seems to be on the new Google+ thing these days, at least Candy Spelling knows him there, and she is a verified member. Well, it doesn't say anything, or Mrs Spelling got hocked by an imposter, ::) at least he seems to get lost in an overflow of friends, but i know Google+ hadn't had the time to verify all public ppl yet. It's currently done manually by them and they got lost with a lot of public figures. I know certain ppl that are really what they are, and they haven't been verified neither. Well, time will tell. I know Peter and Alice are on facebook, Alice with 2 acc's, but of course you know that. ;)