nkp007
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Posts posted by nkp007
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You got that everyone? No more Biglari bashing. You heard it here first. Ha.
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I really like their style and the descriptive letter.
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I love the old school vs new school, Icahn vs. Ackman battle.
I do think Ackman is acting a lot classier though. He still has the higher ground in my book since he's not publicly insulting Icahn.
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Cale is awesome. I met up with him after I read his stuff online a few years ago. A true class act and a rising star.
Definitely a name to keep track in the future.
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Been buying for a couple days. I can't imagine any major funds buying these in quantity unless they approach major holders (regions banks, other funds, etc) directly.
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FNMAS: $5.10 today. Preferred Series S Fixed to Floating Rate
FNMAI: $4.37 today. Preferred Series Q. 6.75%
FNMAJ: $4.50 today. Preferred Series R 7.625%
Is the difference purely due to the int rate or do you all think FNMAS is just the most noted one in the media?
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I have a question for the other lawyers on the board.
As I understand it, Berkowitz bought the preferred shares after the sweep amendment. Does he have standing?
The security's claim still has standing. If the sweep amendment was illegal, it still is. It doesn't matter who now owns the security, but rather that the security itself was wronged.
Caution: I am not a lawyer. I know nothing about law so the above could be complete BS. I did take the LSAT though. I hate logic games.
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So this is what saves CNBC. How convenient. ;D
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Breaking from CNBC Twitter Feed:
BREAKING: Fairholme Fund says will sue this week to receive Fannie, Freddie dividends; suit appears similar to Perry Capital suit filed Sun.
(More) Fairholme Fund argues that the amendment to government ownership of Fannie and Freddie is unlawful, @KateKellyCNBC reports.
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Did anyone read the book he recommended? If so, any interesting takeaways?
I loved the speech so much I ordered the book on amazon. I'm sure it's going to be great.
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So CNBC considers him leaving twitter 'News'?
I've said this before, but I'd love to see Kass's returns over the last several years. I have't found them anywhere. I used to follow up for a while, and he was dead wrong on nearly every post/article he wrote for years. He's just another talking head.
I will never forget his promotional tirade during the Berkshire meeting. He got the chance to ask Buffett anything he could possibly want and Kass decided to asked him for money in some veiled bet.
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Manage approximately $5 million in assets.
Estimated:
30% AIG warrants
30% Bank of America common, warrants
30% Chesapeake Energy common
5% Jamba Juice
5% Cash
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Never trust a hero member. Do your own due diligence. - Warren Buffett
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I want this too!
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Better than accidentally deleting the entire "Investing Ideas" section.
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Speculation on market top is as dangerous as speculation on stock price for next week or next month. Expensive market can become even more expensive. Madness can continue for another year or two. One “Common Man Investor” may not be a good indication of market top. There may be hundreds or thousands of “Common Man Investors” join the market and push the market even higher next month.
Buy a great business that is run by great manager at cheap price. Have good sleep at night. Do not worry about the market.
Spot on.
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Bruce being premature once again? ;)
Haha. Maybe that means I will have a chance to buy back in 50% lower.
50% lower AND with more clarity.
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so many prefers ... which one
He put $500mm into the prefs. It looks and smells like a speculation, but there's no way he puts that much money in there without knowing something else.
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They're talking about this on CNBC now. Berkowitz was talking to David Faber about restructuring them.
http://video.cnbc.com/gallery/?video=3000171775&play=1
Oh boy
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Did anyone catch the tone Buffett and Munger used when discussing Henry Singleton at the annual meeting?
They mentioned how he took advantage of shareholders and it seemed to irk them greatly. I think it's safe to say they would at the very least view him as borderline unethical.
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I made a donation and you should too!
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I'm on watch, but I own some very cheap securities (90% of my portfolio is in $AIG $BAC $CHK).
I won't let the herd decide when I enter / exit, but I can sure hear their footsteps.
In this thread: a lot of investors discussing macro themes and ignoring underlying valuations of individual companies.
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This surprised me:
"That follow-up shareholder asked them about metrics and screening for stocks, and Buffett and Munger both said they don’t really look at numbers."
I thought Buffett dives into the financial statements like none other.
Not quite an accurate summary.
They said they don't make decisions solely based on the numbers. There is no set formula.
FNMA and FMCC preferreds. In search of the elusive 10 bagger.
in General Discussion
Posted
That's not a legal argument though.
It was placed in conservatorship, not receivership. Government received preferred security with 10% dividend and effectively 79.99% of the common.
Then in 2012 things went haywire. The takings issue.