mevsemt

40ish % cash, and thinking of trimming my holdings even further. http://mevsemt.blogspot.com/2013/01/2012-returns.html

Book on John Malone: "Cable Cowboy: John Malone and the Rise of the Modern Cable Business"

When are you gonna update your site, man? It's one of my favorite blogs! :) Sorry man, I've been spending a lot of time on non-blog stuff, so I haven't been posting as much as I'd like. However, with the market hitting new highs, I'm not finding many new ideas (hence the 45% cash). Since I'm basically sitting on my hands right now, I don't have much to write about!

Up roughly 60%. I was up 57% at the end of Q2, and things have gone up since then. See blog for holdings and portfolio size/composition (http://mevsemt.blogspot.com/) -MEvsEMT

Thanks for the kind words. And in case you're interested, I have a blog at www.mevsemt.blogspot.com.

I'm surprised SHLD isn't getting more "face time" on this board... For anyone keeping track, over the last 3-4 months Eddie has: 1. Met LP redemptions with AZO & AN stock, effectively making ESL even more concentrated in SHLD. 2. Purchased approx. 5% of SHLD shares outstanding for his personal account. 3. Sold real estate. 4. Announced a rights offering for Hometown/Hardware. Earlier in 2011 he started selling Craftsmen at Costco and spun off Orchard Supply. Now there are rumors he may be in the process of selling Lands End. In short, we've had more activity in the last 8 months than we've had in the last 5 years. Given what's going on with ESL redemptions, Eddie's personal account, and SHLD itself, I think it's at least possible we could be witnessing the beginning of Eddie's "Berkshire moment", right now and in real time. Thoughts?

Here's a link to my 2011 returns (http://mevsemt.blogspot.com/2012/01/2011-returns.html). Toward the end of the post I show my holdings as of 12/31/2011 (and since then the only thing I've done is trim back on SHLD a little). From the closing paragraph: And I'm not sure whether to call it stubbornness or arrogance, but I've effectively doubled down on Sears and re-initiated a significant position in BAC. My hope is 2012 will prove to be a better year for these struggling companies, and with Sears's assets and BAC's core business, they both have a ton of potential. Needless to say, it's been an exciting few months...

Biaggio, no special insight here, just a little bit of luck and a little bit of stubbornness. Frankly, I credit much of my success with SHLD to Valuegeek, who basically laid out the road map right here on this forum (for instance, in threads such as this one: http://www.cornerofberkshireandfairfax.ca/forum/general-discussion/shld). All I did was follow it. Anyway, I post about every transaction I make in real time, so if you want to know what I'm doing with SHLD (or any other holding for that matter), simply follow my blog (http://mevsemt.blogspot.com). BTW, as you can see from my last post, I trimmed back a little earlier this month. -me vs emt

That's easy. The day after Eddie starts selling.

Funny you should mention SHLD... http://mevsemt.blogspot.com/2011/12/kmart-smart.html (12/19/2011) http://mevsemt.blogspot.com/2011/12/more-sears.html (12/28/2011)

I echo Parsad... http://mevsemt.blogspot.com/2011/11/bac-my-favorite-mistake.html (11/25/2011) http://mevsemt.blogspot.com/2011/12/trying-something-different-again.html (12/26/2011) http://mevsemt.blogspot.com/2011/12/adding-to-bac.html (12/29/2011)

Sears Canada Inc. announced today that it will return to commercial real estate developer and landlord, The Cadillac Fairview Corporation Limited (Cadillac Fairview) three stores within shopping centres the developer owns and manages, for a total consideration of $170 million. http://finance.yahoo.com/news/sears-canada-announces-return-three-130000853.html It'll be interesting to see what else Eddie has planned in terms of asset sales or other transactions...

Biaggio, to answer your question - Yes, my Sears purchases in December were basically based on my original thesis (and the fact that the stock had fallen to prices I considered too good to pass up!). Obviously my thesis has evolved and been refined over time, but the truth is it really hasn't changed materially. Here's a link to my first Sears purchase (from November 2010), which is a decent introduction to how I approached the investment: http://mevsemt.blogspot.com/2010/11/transaction-alert-sears-holdings-2013.html. And here's my most recent SHLD post for anyone interested: http://mevsemt.blogspot.com/2012/02/cause-loser-now-will-be-later-to-win.html Alertmeipp, thanks for the kind words!

I added to SHLD twice in December, (stock and LEAPS). http://mevsemt.blogspot.com/2011/12/kmart-smart.html and http://mevsemt.blogspot.com/2011/12/more-sears.html

It's about time! http://mevsemt.blogspot.com/2012/02/cause-loser-now-will-be-later-to-win.html