Kraven

Finally got around to this one. I agree with the other recommendations. It was quite good and enjoyable. Worth reading.

CorpRaider-I think that's a great idea if anyone wants to answer the question in a way that allows for more flexibility I think that would be awesome and also maybe a good way for people to feel a bit less threatened by the title. Whew! I did feel pretty threatened by it all so am glad we can talk about it in a slightly different way. I was really stressed while eating my lunch and didn't enjoy it as much as I might have otherwise. I think phrasing it as a 10 year voluntary lockup is good though. It really gets to the heart of the matter. I will maintain, however, that there isn't a soul who would take that trade. Buffett would say he would, but that he can't because of insurance regulatory issues. If but for that. For all those who believe that there are legions of people waiting to lock up their money for 10 years voluntarily they should talk to any of the thousands of hedge funds who practically go to war on 1 year or so lockups. I know, I know, value investors are a different breed. I would think there are any number of investment banks and hedge funds who would gladly enter into a trade where they get your money today and provide you the economics on one of these stocks 10 years from now. You should ask around. You could get your wish.

I respectfully disagree. I mention ten years, not 200 or something. Some of the best investors have held onto investments for close to and occasionally ten years, especially Buffett. Furthermore, and as an aside---feel free to mention some of the qualities that you would look for in a business that you would consider holding for that time frame. David There's a huge difference between holding something by choice and holding because you have to. This question reminds me of those stunts by guys like David Blaine where he is sitting in a glass enclosed case in NYC suspended in the air without food or water for 3 days or whatever it is. He comes down and says "see, I did it!" Of course anytime throughout the process he could have pounded on the wall and asked to be taken down. Big difference between that and being put in that cage without any ability to come down until the end of the event.

That one would be nice. I'd put money on him and Bryce Harper. Not because I think Harper has really done all that much (and certainly is no where near Trout), but at 22 I fully expect him to at least be around and doing well in 10 years.

None because if the market was closed for 10 years it would mean we are living in a fundamentally different world than we are in now. We'd all be looking for guns, ammo and canned goods. I firmly believe that if somehow there was a situation where an announcement was made that the market had to close for 10 years, but nothing else would be different, that there isn't a soul who would continue holding stocks. The uncertainty would be too great. I mean how do you know they would reopen? Edit: ironically, many of the people jumping at the opportunity to hold stocks for 10 years with the market closed are some of the same people who don't like certain stocks because they're dark or too illiquid. And that's with a market.

It means nothing. He's President of the St Louis Fed. He isn't even on the FOMC this year so he doesn't vote. Each individual Fed president goes out periodically (some more than others) and shoots their mouth off. It's likely his own opinions only. It's not worth too much other than the fact that he's traditionally hawkish so if he is saying let's maybe keep some QE that might be viewed that other hawks feel similarly and are open to cracking the door back open.

So they've been dead wrong for the last 6 years, but the market declines over a week & 1/2 period, and now they're right? This thread is ridiculous. I know you don’t like how Fairfax operates. And that’s fine! But let me ask you a question: if the market stays in some kind of turmoil for a while (a few months), if US government bond yields keep going down, and if Fairfax share price declines with the overall market, don’t you think it could be worth buying at least some shares before they announce 2014 year end results? Gio Why point was more about the point of this thread than the way the company operates. It's like someone buying JC Penny at $40, and then boasting that they were right when 2-years later the stock goes from $5 to $7. Diogenes can stop his search now, put down his lantern and rest. Here is an honest man.

Well, Connie Francis would agree with you I suppose. I'm not sure about others, but Connie Francis for sure.

Isn't it something like a 7 year yardstick now? I thought he changed it when 5 years didn't work so well. Maybe I'm wrong. Just curious - why the anti-Buffett under tone in many of your posts? Is that you, Alice? -CM I don't like Cherry Coke. My publisher will not permit me to confirm or deny that I am that person.

Isn't it something like a 7 year yardstick now? I thought he changed it when 5 years didn't work so well. Maybe I'm wrong.

If there was only a way to make money off that. ;) Running for election is one way. How about a moral way for someone who doesn't feel comfortable making a living through theft, extortion, and violence? And since someone already brought up politics I'll add to the duopoly list: Jesus vs. Mohammad. What about - Hall and Oates Captain and Tennille Seals and Crofts England Dan and John Ford Coley Loggins and Messina Donny and Marie Sonny and Cher Jan and Dean

Maybe Berkowitz should spend more time figuring out how he is going to somehow get above water in Sears Holdings. The whole monument to himself thing strikes me as odd especially since I believe he said he prefers to work from home. I remember a picture of him in his home office with a lap dog or something.

Happened to see this article in today's Washington Post in case anyone is interested. http://www.washingtonpost.com/lifestyle/style/peter-buffett-shows-that-even-the-son-of-a-billionaire-can-pull-up-those-bootstraps/2014/10/09/ccee7b20-4fcd-11e4-babe-e91da079cb8a_story.html

Wow, I feel embarrassed for him actually watching this. It's like when that corner gets turned and all of a sudden Grandpa is standing there in a room full of people announcing "hey everyone! I've got no pants on!" The next week he is in a home.

That is very ominous indeed. I have also heard that every time there was a crash it came in a year with 12 months. We have 12 months in the year now. Food for thought.

How are you going to work in "should I cool it or should I blow"? Seems like you left off right before that . . . .

[amazonsearch]Bankers Town[/amazonsearch] This is a financial thriller (fiction) written by an ex-English banker and, I believe, first time author. I found it surprisingly good and enjoyable. The book is generally well written. There are two primary time lines in the story (the main character's present and his past - how he got to where he is today) and I did find it a little awkward at first the way the author weaves the two together, but either I got used to it or he got better at it as the book goes on. People who want to get a feel for what it's like inside an investment bank and in the securitization market, and just anyone who enjoys a good novel, might find this of interest.

Coffee.

Yes, it's good and much easier than his other book, but I would say it still really isn't as straightforward for a beginner. I'd still go with something like the Boglehead's Book.

I'd go with something like The Boglehead's Guide to Investing by Larimore and Lindauer. Not by Bogle himself, but by the King Boglehead, Taylor Larimore (and others).

I just got back from the mall. I went to the record store and there was a big poster with BB promoting a huge tour with Pearl Jam, Soundgarden and Green Day. It's going to be awesome! If you're interested you have to line up for tickets at your local Ticketmaster outlet when they become available.

Us Blackberry users have a holster, thank you very much. It sits nicely on our sides, out of the way not like those tween girls shove them in their back pocket with the sparkly cover. Much like the pocket protectors from days gone by................. 8) Oh yeah, holsters, that's right. It is nice when your pager goes off you can grab your blackberry out of its holster and return the call right then and there without needing to go find a pay phone. I heard they're teaming up with Sears on this, Chen was quoted as saying "We think two failures will make a success when we work together." They'll be offering a Blackberry app that makes ordering from the Sears catalog a lot easier. Users have also been asking for a CB Radio app so they can keep in touch with the ever changing traffic conditions reported real-time by truckers... I heard about that partnership with Sears. I think they are going to be doing a promotion where if you buy the new BB they give you a K-Mart.

Us Blackberry users have a holster, thank you very much. It sits nicely on our sides, out of the way not like those tween girls shove them in their back pocket with the sparkly cover. Much like the pocket protectors from days gone by................. 8) Oh yeah, holsters, that's right. It is nice when your pager goes off you can grab your blackberry out of its holster and return the call right then and there without needing to go find a pay phone. Does anyone know if the new BB has push email capability? What about a calendar and contacts? If you can get on the information superhighway are you able to check stock quotes, sports scores and the weather from it? A device that did all of those things would do really well I think. Someday . . . someday.

It sounds good to me, but my office computer is a Commodore 64 and it takes a bit of time to navigate the world wide web and the information superhighway.

I guess too that I have never quite understood the superstar status attributed to FFH. They strike me as being like a band like Bon Jovi. They were once pretty good and superstar status somehow got attached to them and has never worn off even though it's coming up on 30 years since Wanted Dead or Alive and the rest of Slippery When Wet came out.