Archive for February, 2009

• Buffett "Endorses" Mark-to-Market Because of It’s "Strange Results"
  ToddSullivan, February 28th, 2009 at 5:28 pm, Comments: 0

  Now, before mark-to-market fans get all excited, one needs to take a close look at what Berkshires (BRK.A) Chairman says about it.

  For those not sure where I stand on it, visit a past post.
  From the Annual Letter.
  Buffett makes the following statement, “We endorse mark-to-market accounting”.
  Now, is it for the transparency its advocates [...]

• Berkshire Hathaway Annual Letter
  ToddSullivan, February 28th, 2009 at 3:53 pm, Comments: 0

  Haven’t read it yet so thoughts on it will come later……
  Enjoy….

  Waren Buffett’s 2008 Berkshire Hathaway Letter
  Publish at Scribd or explore others: Wills and Trusts [...]

• Saturday Reading
  ToddSullivan, February 28th, 2009 at 11:36 am, Comments: 0

  Housing

  - Paul Kedrosky nails it..
  Disclosure (“none” means no position):Visit the ValuePlays Bookstore for Great Investing Books

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• Saturday Humor
  ToddSullivan, February 28th, 2009 at 6:19 am, Comments: 0

  From the John Stewart

  .cc_box a:hover .cc_home{background:url(‘http://www.comedycentral.com/comedycentral/video/assets/syndicated-logo-over.png’) !important;}.cc_links a{color:#b9b9b9;text-decoration:none;}.cc_show a{color:#707070;text-decoration:none;}.cc_title a{color:#868686;text-decoration:none;}.cc_links a:hover{color:#67bee2;text-decoration:underline;}

  The Daily Show With Jon StewartM – Th 11p / 10c
  Unusual Suspect

  Daily Show Full EpisodesImportant Things With Demetri Martin
  Funny Political NewsJoke of the Day

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

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• Leucadia Reports 10K: Discloses Pershing Square Target Loss $$
  ToddSullivan, February 27th, 2009 at 6:23 pm, Comments: 0

  Wow… a 82% loss in Target (TGT) for Leucadia (LUK)

  Full 10K
  In June 2007, the Company invested $200,000,000 to acquire a 10% limitedpartnership interest in Pershing Square, a newly-formed private investmentpartnership whose investment decisions are at the sole discretion of PershingSquare’s general partner. The stated objective of Pershing Square is to createsignificant capital appreciation [...]

• General Growth Files 10K: Comments on Liquidity
  ToddSullivan, February 27th, 2009 at 5:22 pm, Comments: 0

  This is shaping up to be a classic game of chicken. Just read what General Growth Properties (GGP) has to say.

  Liquidity
  Since the third quarter of 2008, liquidity has been our primary issue. As of December 31, 2008, we had approximately $169 million of cash on hand. As of February 26, 2009, we have [...]

• “Bailouts, Your Dollars, & the Whole Credit Mess"
  ToddSullivan, February 27th, 2009 at 4:49 am, Comments: 0

  Ronald H. Muhlenkamp is founder and president of Muhlenkamp & Company, Inc., established in 1977. He is a nationally recognized, award-winning investment manager, frequent guest of the media and featured speaker at investment conferences nationwide. Take your time and go through the presentation. It is worth the read..

  “Bailouts, Your Dollars, & the Whole [...]

• Friday’s Links
  ToddSullivan, February 27th, 2009 at 3:41 am, Comments: 0

  Wall St. Media, NetFlix, Housing, Gphone, Google

  - Thank you for the mention
  - Streaming growth is exploding
  - Still to high
  - Am anxious to see this
  - Breakup?
  Disclosure (“none” means no position):Visit the ValuePlays Bookstore for Great Investing Books

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• Ackman Going for Target Board Seats $$
  ToddSullivan, February 26th, 2009 at 9:04 pm, Comments: 0

  Did anyone really think he was just going to go away? Target (TGT) us in for a battle whether they know it or not.

  In a just released 13D/A Filing
  As of February 26, 2009, as reflected in this Amendment No. 5, the Reporting Persons are reporting beneficial ownership on an aggregate basis of 58,390,835 [...]

• Sears Holding’s Edward Lampert’s Letter to Shareholders $$
  ToddSullivan, February 26th, 2009 at 3:58 pm, Comments: 0

  This is a fascinating letter. Lampert addresses “mark-to-market”, short sellers, regulation, Lehman, Bear Sterns, AIG, Banks, the Austrian School ,Hyaek and more. He also addresses critics who chastised him for not spending more as today competitors liquidate, drastically cut back plans and he sits on $1.3 billion in cash.

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  Edward Lampert’s Letter to [...]