I’m as sick as the next guy from the constant chatter about the auto bailout for Ford (F) and GM (GM). But, when Jackson ans Ross have something to say, I listen.
AutoNation CEO Mike Jackson
Wilbur Ross
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Given current events, this is………. “ironic”?
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Roubini:
On a side note, it would be easier to date these clips is Roubini would actually wear anything other than a light blue shirt. At least he “86’d” the blue tie that usually goes with it.
Rogers:
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Ok, Tilson has been saying this same thing for a year now. Nice that the MSM has finally caught on.
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Profile, Madoff, Banks. Madoff
– Market Folly has a nice post on three traders
– The list of “victims”
– Bankrupt
– OK
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This Scribd thing is pretty cool. digging for information take a little time but there is some great stuff there.
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304 pages of articles on the crisis.
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Whitney really does a great job here explaining the what’s and the why’s as to how we got to where we are today.
Video:
It should be noted here that Tilson’s T2 fund has begun buying as he said “some of the most toxic mortgage assets a out there”. Nothing will help turn things around faster than private money coming into this market. Now if we can just get the gov’t out of the way.
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Berkowitz and Leucadia (LUK) hold almost 45% of the outstanding shares.
-AMERICREDIT CORP. (NYSE:ACF) today announced the appointment of Bruce R. Berkowitz to its board of directors. AmeriCredit’s board now includes ten directors.
Mr. Berkowitz is the President of Fairholme Funds, Inc., and is also a member of its board of directors. He has more than 24 years of investment management experience and is the Managing Member and Chief Investment Officer of Fairholme Capital Management, L.L.C. Mr. Berkowitz also serves as a director and member of the audit committee of TAL International and White Mountains Insurance Group.
“We are pleased to add such a well-respected and experienced professional to our board of directors. I am certain that our company and our shareholders will benefit greatly from his knowledge and insight,” said AmeriCredit’s Chairman Clifton Morris Jr.
Additionally, in consummation of the transaction announced on Nov. 24, 2008, between AmeriCredit and Fairholme Funds, Inc., (FAIRX) AmeriCredit has issued approximately 15.1 million shares of its common stock to Fairholme Funds, Inc., valued at $6.02 per share, in exchange for $108 million of par value of AmeriCredit’s 8.50% Senior Notes due 2015.
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Berkshire Hathaway (BRK.A), (BRK.B) is doing great with the put selling..
Just a day after getting “put” 3.2 million shares, Buffett gets another 2.2 million shares of Burlington Northern (BNI).
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Regular readers know Grant’s wisdom is highly valued here. Therefore this interview is a listen.
Here is a review of his book I did a few months ago
Part 1: “Disastrous inflation is brewing..”
Part 2:
Part 3
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Sorry but if you invest millions or billions and do not ask any questions, oh well…what is the saying? “a fool and his money…..”?
Here is the coverage. do not have too much to say other than what I said in the beginning but readers are emailing about it.
Bloomberg:
Bloomberg:
MSNBC
MSNBC
When smart people (or those alleged to be) show such stunning indifference to their wealth, I just cannot muster up sympathy for them.
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Ok. Here is a great discussion between Peter Schiff, Don Luskin and Robert Froehlich about the auto situation (Steve Forbes in in the second video). Got to be honest….Schiff wins this one hands down..
So, we know what I have said about Mr. Schiff in the past. I still stand by that. But, here and now I think he is the one that makes the most sense. The best quote “we are punishing success and rewarding failure” with the gov’t bailouts.
Here is the video:
In this part Schiff argues the dollar is going to crater, buy gold, avoid financials, and look at hard metals.
Part 2:
Mr. Schiff, I notice you have a new book out, forward me a copy and I’ll give a read and a review.
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OPEC would then have almost 50% of world oil supply..
gonna be going long oil very soon through (DBO) and (DXO)
Disclosure (“none” means no position):Soon to be long oil through DBO and DXO
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Rogers, Sears, Monopoly, Margin, Yield
– A nice reminder of Sears real estate values
– This is pretty cool
– The reason for much of the selloff
– Near 9%
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