Liberty

I think that's just a cut & paste of the bloomberg headline, which was in caps.

Official press releasE: http://www.berkshirehathaway.com/news/APR1712.pdf

Just saw. Holy shit. Hope it's caught early and treatable :'(

http://www.chrisstucchio.com/blog/2012/hft_apology.html First part of many. Should be interesting to hear the other side.

I never did, but it's funny because when I first discovered this board I read the whole archives, and I saw the progression in sentiment about him from 'Man, this guy's so great!' to 'ew, why is he doing that and who does he think he is?' :)

http://beta.images.theglobeandmail.com/archive/01396/web-oliver_jpg_1396214cl-8.jpg

End of an era (half an era?).

http://financialpostbusiness.files.wordpress.com/2012/04/fp0412-nat-gas-10year.jpg

Thanks for posting.

Apparently nat gas futures went undef two dollars today.

I work from home in my pajamas, and I'm not Monish :) For some people it works, for some not. I would not have it any other way, personally.

I'm also with TDW, but never noticed interest on my cash (not that I have much). Where do you see that, at the end of the month in "activity" or somewhere else?

http://www.amazon.com/Keynes-Market-Economist-Overturned-Conventional/dp/047028496X/ref=sr_1_3?ie=UTF8&qid=1333168039&sr=8-3 I think you will like book. Thanks. One of the amazon reviews kind of scared me off it, but i'll give it znother look. This is the study i was talking about: http://poseidon01.ssrn.com/delivery.php?ID=144069024001068084002121099092099099026013091078022071098085085031114030081114024109016057007032110013117127119103002120080027106033087014022118078100030117065066005087013007085116100072027024065108002&EXT=pdf

I think that might happen organically over time, but I don't want to force it. Right now there are 4 companies that I feel very comfortable with and feel like they could be multi-baggers over the next few years, and then maybe a dozen others that I know enough about to have confidence that they should do just fine, but aren't quite to the level of those 4, so I'd rather just concentrate in my tier 1 ideas. I mean, I could add some BRK, LUK, FFH, RLI, WRB, MKL, MA, V and HHC to my portfolio, and I'm pretty sure that all of those will do just fine over the next 5-10 years (if you don't overpay). But for now I feel comfortable being more concentrated, and time will tell if I'm correct or not to do things this way.

Nah, I'd be crazy to sell FTP right now. I won't even look at that stock again until LSQ is running at 100%.

Ha! Maybe you've just found the goose with the golden eggs ;) And no, it's not SD.

I might post about it at some point, but sometimes I feel like Mr. Market himself reads this board, and if I post about my portfolio, everything's going to drop 20% in a day :P

I agree with all those points, and that's almost the situation I'm in (new thing isn't necessarily better quality, but at least equal to something that I think is very high quality. but it's def cheaper). If the current holding I have was selling for 15-20% higher, I'd sell half of it and buy this new thing. I just have a really hard time selling for the current price, and so I wait, and I stress out.. I think the max number of companies that I've been invested in at one time was 8-9, and I'm currently in 3, wanting to go to 4 by selling half of one and investing that in #4. My concentration style is very early Buffett-personal-portfolio/Munger, and I think over time it'll probably stabilize around 4-5 different businesses. I don't feel I need to put money in my 10th best idea or whatever, I'd just rather buy more of my first or second best. What book is that? Is it the PDF that was linked in the recent WSJ article, or is there an actual book about JMK as an investor? thx. I liked that WSJ article. What it described is similar to my style.

I wouldn't be ready to put that much into it if I didn't think it didn't have a good chance of doing as well if not better than what I currently hold. But my worries are more about optimizing the allocation; if I can sell higher yet still buy low, it would be the best of both worlds... Indeed, and I'm ready to change my mind very quickly if the story changes. But as long as it meets all my criteria for a long-term holding (the only kind I have now), I want it!

That's pretty much how I look at things. The problem here, is that it's a choice between two great investments. I would put about 25% in this new one, but the one I would have to sell part of to do that I also love, so I'd a least want to sell it relatively high. I run a very concentrated portfolio and if I own something it means I really really like it, so that makes it hard to sell even if for something I also love. It's not a terrible problem to have because even if I missed this new one, I know I'd do just fine holding what I own now, but it's still this part of the investing process that I find most stressful...

Anyone knows of an easy way to track the average cost of patents traded or something like that? Based on the past couple of years' headlines, it feels like we're in a pretty big patent bubble.

That's what I'm telling myself. Even if it goes up a bit, if what I sell goes up even more, it'll be a great deal and I'll end up with about as much of what I want + more left of what I'd be selling.

https://twitter.com/#!/TweetsLMAO/status/189417076643991552 ;D

I would do that if I was in the situation you describe. My problem is that I don't have enough cash to take the big position that I want to take, so I need to sell something else, but everything I have is too far below IV for me to comfortably sell. So either I wait for something to go up a bit and hope that want I want to buy remains low, or I compromise and sell right now (too low) to make sure I don't miss this new opportunity. I know I should wait, but it's a bit stressful..