Liberty

That would be great! But if it's too much trouble logistically, I'm sure us FFH fans who can't make the annual meeting would love an electronic PDF version.

There's a book about FFH's history that will be given out at the AM this year. Hopefully the people on this forum will have access to it via a PDF or something like that..

http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/04/12/benzinga996147.DTL

Got some ALS.TO

Sorry if this is a repost, I didn't know it was an older video. Munger recommends reading about Lee Kuan Yew. Does anybody here have books on him to recommend? Thanks.

http://www.gurufocus.com/news.php?id=128596

This is only my personal experience, but people here seem to hold two beliefs that, when combined, are dangerous: 1) Real estate is extremely expensive and has gone up way faster than usual in the past decade. 2) It can't go down, because real estate doesn't go down. And if it does, it's only going to be a little.

I agree with a lot of what you say, Cardboard. I think Canada will probably get in trouble at some point, but it will depend a lot on external factors so hard to predict how long that's going to take.

Just got my copy. Probably the biggest book I've ever seen!

I'm pretty sure that was irony.

My reaction: ::)

You should have posted this on SeekingAlpha, the stock would've went up 25% at least ;D

As someone else said earlier, I think it's about probabilities. If it was public knowledge that LZ was on a short-list of companies that fit certain criteria by Buffett AND that Sokol was going to recommend it personally to Buffett, interest in that company would probably soar even before any deal was announced. The probability of a deal is just much higher than with any random big quality company, even if "higher" doesn't mean close to 100%.

Anyone has more info on this? At first glance I would say that this happened because he was spending so much time fixing other companies and flying around the world looking for deals. Now that we know how this story ends, we must be careful about retroactively seeing red flags that maybe weren't really there but that would fit the conclusion nicely. I'm not saying this is one of those, but I'd like more evidence to make up my mind either way.

I also wonder what this means. Is it that Hambrick is so great that he changed Buffett's mind, or that in that dinner conversation some plans about the future of the company were revealed that made things different for WEB..?

BRK is down about 3% in after-hours trading.

My first reaction was to be shocked, but then, after a little cooling off, I realize that maybe this is for the best; better that a lapse in judgement be revealed now than after Sokol is CEO of Berkshire. It might not technically be illegal, but Buffett's standards are higher than this and Sokol knew it. But any way you slice it, it really sucks. Sokol is extremely talented.

Yeah, I should probably have added the caveat that it isn't a particularly insightful piece. Sorry, sometimes I'm too inclusive in what I share ;D

Sorry, BG referred to the Validea Benjamin Graham screen that Harry used as an example. :) Thanks! I'm usually pretty good at keeping track of acronyms, but sometimes there's one that could mean a few things and I can't quite figure it out :)

http://www.theglobeandmail.com/globe-investor/investor-education/investopedia/why-warren-buffett-might-not-be-buying-stocks/article1961208/

What is this "BG screen" you talk about?

I just want to thank everybody who has voted in the poll and shared their approach. It's very interesting. Obviously this board seems to have a pretty strong bias for relatively concentrated portfolios. Close to 60% of the people who voted have between 1 and 10 businesses in their portfolio.

Yes, thanks for posting. Curious to know: What is your current estimate of IV?

You can get it here: http://fairfax.ca/Assets/Downloads/AR2010.pdf

Indeed, but maybe it just means he's pretty busy running operations at a few businesses so he doesn't have time to sit and read annual reports all day like Buffett. What matters most is his judgement once a short-list has been established, and maybe if he were to become CEO, he'd have more time for research and dealmaking..? Just my guess.