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Everything posted by BargainValueHunter

  1. That's not even remotely the case. Bruce went deep in the trenches with his DD. He was over concentrated and stubborn and that has been his undoing but Chamath barely does any DD, has lots of positions and doesn't have anywhere close to the same conviction as Bruce did. He is the polar opposite I was not talking about investment style. I was talking about a palpable lack of humility while being interviewed by financial journalists.
  2. Chamath is this generation's Bruce Berkowitz.
  3. State Street, Continental Building Products or the "Holy Grail"... Starbucks!
  4. https://www.forbes.com/sites/alapshah/2019/08/12/obscure-berkshire-hathaway-filing-reveals-what-warren-buffett-thinks-about-kraft-heinz/amp/
  5. I can't think of anything more undervalued at the moment than IJR puts
  6. Re-reading this interview with Berkowitz... https://www.thestreet.com/story/10086411/1/fairholmes-15-faves-from-berkshire-to-telecom.html Where did THIS value investor go??? :o
  7. I know you shouldn't pick one moment in time to judge performance but c'mon... This isn't like the late 1990s when staunch value guys were investing in forgotten but highly profitable businesses while the whole world was obsessed with DotCom and Telecom. This is a man who passed over HUNDREDS of great businesses for YEARS to double and triple down on both a man who seemed to be doing the opposite of what was needed to fix a giant retailer (Lampert) and a conviction that the whole Federal Government would be brought to heel by its very own court system (Freddie and Fannie). And then you have JOE which can not POSSIBLY be one of the top 10 businesses in the United States. I think to lag behind 99% of the other funds you should at LEAST be long volatility (which I feel is deeply undervalued at the moment) because at least that would kind of make sense.
  8. I can't figure out why (with natural gas being ultra-cheap year after year) there has not been a revolution of businesses, utilities and manufacturers ditching coal and petroleum and converting to nearly free NatGas.
  9. Since 2017-07-06, Bruce has been dumping SRSC aggressively! Maybe he changed his mind. [*] SC 13D/A 2017-07-06 SEARS CANADA INC COMMON SHARES SRSC 21,468,056 -94,918 N/A SC 13D/A 2017-07-27 SEARS CANADA INC COMMON SHARES SRSC 21,433,443 -34,613 N/A SC 13D/A 2017-08-04 SEARS CANADA INC COMMON SHARES SRSC 19,034,637 -2,398,806 N/A SC 13D/A 2017-08-18 SEARS CANADA INC COMMON SHARES SRSC 17,241,837 -1,792,800 N/A SC 13G/A 2017-08-24 SEARS CANADA INC COMMON SHARES SRSC 16,544,647 -697,190 N/A SC 13G/A 2017-08-30 SEARS CANADA INC COMMON SHARES SRSC 8,811,785 -7,732,862 N/A [*] Who would trust Berkowitz's word now after he has abandoned his value principles of the 90s and early 2000s. Remember when he talked publicly of his intent to hold Pfizer for a long time right before quietly dumping it... https://www.forbes.com/2009/08/21/berkowitz-fairholme-pfizer-intelligent-investing-buffett.html How has the health care sector done vs. Sears Holdings since 2009? Berkowitz is just another Warren wannabe who had his time in the sun and is now in the wannabe graveyard with all the rest.
  10. Berkowitz loaded up on SHLD in Q1 it seems. He must still like the story. ???
  11. This current VIX situation feels a lot like what it felt like in 2005 when home prices in Las Vegas were obviously going to rise 20% per annum indefinitely and when IBM and General Electric were talked about by market watchers on CNNfn as takeover candidates by up and coming telecom players like JDS Uniphase in 1999. There is an eerie "nothing to see here...this is the new normal" vibe to the market right now...
  12. http://www.barrons.com/articles/lamperts-seritage-strategy-could-lead-to-long-term-gains-1492836691
  13. https://betterdwelling.com/city/toronto/marc-cohodes-short-canadian-real-estate/
  14. ...and here we are 5 years later and the Canadian portion of the bubble has only gotten larger according to Watsa: https://www.bloomberg.com/news/articles/2017-04-20/fairfax-s-watsa-warns-toronto-real-estate-bubble-will-burst
  15. First the cocaine bust now this... http://www.zerohedge.com/news/2017-04-10/prominent-short-seller-crushed-after-att-buys-straight-path-160-premium Poor guy...
  16. https://www.thestreet.com/story/14063324/1/why-these-titans-of-wall-street-may-be-tripping-over-themselves-to-buy-shares-of-dying-sears.html So to get a decent overall return on his many, many, many years of managing this position he has to make up for being underwater THEN beat the S&P 500 over the time period that he has chosen Sears Holdings over the SPY ETF.
  17. This is an old article from 2004 by James Altucher about an interesting side of Warren's investing. The original version can't be found on the 'Net so here is an old Blogspot mirror with the original text: http://futuresasia.blogspot.com/2008/04/profitable-hobby-of-warren-buffett-by.html
  18. The 2016 Annual Letter is out... http://www.fairholmefundsinc.com/Letters/Funds2016AnnualLetter.pdf It is hard to respect a man who, at some point, can NOT admit a mistake. Buffett has always been great about admitting mistakes. (By the way...I revived this old thread to point out that some members of this board seem to have a greater mind for value investing than Morningstar's Manager of the Decade™. If Berkowitz had listened to those above this post and perhaps kept his Pfizer, White Mountains Insurance Group and Bank of America holdings instead of doubling and tripling down on Eddie Lampert...)
  19. Did Berkowitz close this fund? And why has Fairholme been up recently while its holdings have sank or at least tread water?
  20. Long 20% out of the money puts on the most liquid "Small Cap 600" ETF and Transports ETF. Also any stock or ETF that is best suited to capitalizing on the out-of-left-field whims of President Trump. :P
  21. Syncora Holdings 2016 Sears Holdings 2006 to 2016 Priceline 2002 to 2016 Apple 2001 to 2015 Lehman Brothers 2006 to 2008
  22. CODI http://www3.valueline.com/secure/vlispdf/stk1800/vlispdf/f97416.pdf
  23. From last summer... https://www.advisorperspectives.com/articles/2016/07/19/inside-the-goodhaven-fund-a-top-performing-value-fund-in-2016.pdf
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