finetrader

What you could do is buy just a little of what you wanna buy to satisfy mr greedy in you.

I like FFH preferred stock as substitute to cash when it comes to hedge against economic downturn risk. What I mean is that if market goes south, Fairfax common and preferred stocks should hold on pretty well. In the case of preferred, you get paid quaterly while protecting your portfolio.

Montreal, La Belle Province, Canada, hey beerbaron, serait bien d'aller en prendre une ensemble un de ses 4, ou bien est-ce que tu vas a l'assemblée de Fairfax? finetrader

http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=fr&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.lesaffaires.com%2Fsecteurs-d-activite%2Findustrie-forestiere%2Ffibrek-le-fonds-ftq-et-quebec-preferent-mercer%2F542305 Translate with google. The fund in question is Fond FTQ, not QFL. And Resolute has been named Solved in the translation.

I am 100% notional invested in BAC based on actual stock price. About 30% of my portfolio is in BAC (stock, warrant, leaps). So this allow me to have ample free cash ~30% to average down would the market go south.

CNBC app is very nice looking

fun is just getting started, next appreciation will allow 10$ strike call to appreciate as much as the common going forward on a $ basis.

Once again BAC is proving that EMT fans are wrong. From 5$ to 9$ stock price in 3 months for a large cap company! Did BAC sign a major contract lately? Did they made a one time big gain lately? Did they improve their balance sheet in just 3 months? No! All has changed is PERCEPTION. And in this market you can make a whole lot more betting on change of perception than on harvesting earnings from the asset you invest in.

What I've noticed on Energold is the constant increase in working capital. So one can argue that FCF is not as high as it seems to be.

Problem is u can only sell covered call on RRSP or TFSA. So hard to transfer large amount of money.

What makes you think they could do that?

http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=8432920 Well, maybe it is time to sell those mills after all

I have sold all my shares at 1.33$. Will wait for more development to see if I want in again.

One of the best true Expos all-star player just passed away. http://www.theglobeandmail.com/sports/baseball/expos-great-gary-carter-dies/article2341187/page2/

I really enjoyed this video! Cheers! http://www.gurufocus.com/news/160969/person-to-person-interview-with-warren-buffett

Hi Al, I think it was obvious, that with all the REJECT (in capital letter) in their recommandations and specially the fact that they disclosed in a previous press release that they had received competitive bids, that a higher offer was on the table. The writing was on the wall. Look forward seeing you in April in TO.

http://www.cnbc.com/id/46360197 Another financial crisis down the road?

It is also likely that oil stock will fly

here is the Mercer offer http://www.theglobeandmail.com/globe-investor/news-sources/?data-ipsquote-timestamp=20120210&archive=cnw&slug=C3141

I just had an idea while reading ABH latest report. Maybe Prem should start managing ABH's pension fund that is almost 1.5B$ in the hole and that will probably require a sizable amount of cash flow to be directed to it in years to come.

Maybe he vote against a competing higher offer, but I really doubt that minority shareholders will vote for ABH offer at this point. So we would be in a situation where no offers get appproved.. But the way I see it, a higher offer from ABH is likely to happen. So to resume, lots of probabilities FBK get acquired at a higher price than 1.00$ by whoever want it the most.

BAC in Black! here too! makes me wanna Shout it out loud but I'll stay humble.

From Berkshire Chairman's Letter 1988: To evaluate arbitrage situations you must answer four questions: (1) How likely is it that the promised event will indeed occur? (2) How long will your money be tied up? (3) What chance is there that something still better will transpire - a competing takeover bid, for example? and (4) What will happen if the event does not take place because of anti-trust action, financing glitches, etc.? I forgot to ask the 2nd question in my arbitrage analysis in FBK's case and the answer is : most probably, not very long

Agree that this is a variation from Buffett arbitrage strategy, but the same questions can be asked in this situation. ( 1. how much you gain if deal goes through, 2. How much you lose if not, and 3.what are the probabilities for this deal to happen.) We know that this an opportunistic bid from Resolute and we know that FBK has reveived more than 1 other proposal. So this gives me confidence that a higher deal has a lot of chances to happen. And like I said, 1.07$ is not too pricy for this company, as i would be willing to hold on to it, even if it goes lower in the short term. To me it seems like a good proposition.

I doubled up my holding today. This is a classic arbitrage a la Buffett where 1)you assess the probabilities that a higher bid will come. Which for me is very high. 2) How much gain you will make if this event happen. I'm guessing a bid around 1.2-1.3$. 3) Ho much you lose if this deal doesn't happen. For me, you don't lose in this situation because EBITDA in 1-2 years will be enough to justify an even higher share price. Also commodity and small cap stocks have rebounded from their december 2011 lows. And I also think management will not proceed with the vertical acquisition they were planning to do if FBK stays by itself.