Archive for January, 2009

• Fairholme Funds 2008 Report $$
  ToddSullivan, January 30th, 2009 at 6:08 pm, Comments: 0

  Hot off the press, Bruce Berkowitz’s Fairholme Funds (FAIRX) 2008 Annual Report. Read it and enjoy, Berkowitz is one of the best…

  2008ar
  Publish at Scribd or explore others: Reports [...]

• Must See: Nassim Taleb Explains "Black Swan" at DLD (video) $$
  ToddSullivan, January 30th, 2009 at 11:09 am, Comments: 0

  This is the single best video I have ever seen of Nassim Taleb. He explains in precious detail the Black Swan theory.

  Here is the book:

  Disclosure (“none” means no position):Visit the ValuePlays Bookstore for Great Investing Books

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• A Reader Response to My Pessimism
  ToddSullivan, January 30th, 2009 at 10:39 am, Comments: 0

  In the interest of fairness, my optimistic reader friend has sent me this. Since he make his points extremely intelligently without saying “your an idiot” for thinking different, and because of his position in the investing world, for the benefit of readers I am obliged to post his thoughts. I hope this elicits conversation on [...]

• A Classic Exampe of "Putting Lipstick on A Pig"
  ToddSullivan, January 30th, 2009 at 6:51 am, Comments: 0

  I had to read this four times to be sure I wasn’t crazy (I may be.but not because I read this wrong).

  Here it is:
  Even with a down economy in 2008, United States railroad volumes for the year were the fourth highest on record behind 2005, 2006, and 2007, according to data released by [...]

• Hedge Fund to Measure Returns in Gold …NOT Currency
  ToddSullivan, January 30th, 2009 at 5:19 am, Comments: 0

  This is a pretty stunning move. What is even more alarming is the reasoning given.

  From the FT:
  A hedge fund has begun offering investors the chance to have their investment denominated in gold, as worries grow over governments debasing their currencies by printing money.
  Osmium Capital Management, a $178m hedge fund manager based in Bermuda, [...]

• Friday’s Links
  ToddSullivan, January 30th, 2009 at 2:13 am, Comments: 0

  Press, Press, Press, Buffett

  - Too hard on Obama
  - Too easy on Obama
  - “Even the Seagulls were in awe“
  - Kass, as always make some valid pointsDisclosure (“none” means no position):Visit the ValuePlays Bookstore for Great Investing Books

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• Wachovia on Gold & Housing $$
  ToddSullivan, January 29th, 2009 at 11:37 am, Comments: 0

  Video via Wall St. Media

  Some very interesting thoughts from Wachovia’s Rich Gordon on Gold (GLD) and housing

  Disclosure (“none” means no position):NoneVisit the ValuePlays Bookstore for Great Investing Books

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• AutoNation Reports Powerful Quarter $$
  ToddSullivan, January 29th, 2009 at 11:31 am, Comments: 0

  Considering the credit markets and the economy, this earnings report from AutoNation (AN) is simply fantastic.

  AutoNation, Inc. (NYSE: AN) , America’s largest automotive retailer, today reported 2008 fourth quarter net income from continuing operations of $70 million, or $0.40 per share, compared to $51 million, or $0.28 per share, in the prior year. [...]

• ESL and Lampert Sign Voting Agreement with AutoNation, Toyota and Honda $$
  ToddSullivan, January 29th, 2009 at 10:23 am, Comments: 0

  Lampert currently owns 45% of AutoNation (AN)

  First, here is the agreement with Honda (HMC) regarding the ESL voting agreement.
  American Honda Motor Co., Inc.1919 Torrance BoulevardTorrance, CA 90501Attention: Dealer Development RE: [...]

• David Einhorn: "Bernanke is an inflationist"
  ToddSullivan, January 29th, 2009 at 4:43 am, Comments: 0

  Because of the Fed’s actions, Greenlight Capital’s David Einhorn is buying gold (GLD)

  From his recent letter:

  This jives with what I have been saying here. Point to note, these swings are usually long term trends. Be patient. The macro-events that will cause gold to rise will take a while to unfold. just [...]