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Gold/Mining/Energy : Imperial Metals (IPM.T)
IPM 1.880+1.6%Nov 14 3:57 PM EST
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To: refugee investor who wrote (600)8/21/2010 11:54:50 AM
From: refugee investor  Read Replies (1) of 1366
 
Hey, did you decide that Bruce has 50% in financials? Just looked at his 13f again and it is very close--I got about 5.8 billion, not counting LUK or BRK as financials.

You won't believe it, but I am thinking about trading out of WTM, some or maybe all, and would have no problem putting a 5% position in AIG or a 10% one in BAC--or a 10% in BUD-- or doing nothing at all. (WTM is trading at what it was in '99, when I bought it. :( A couple of years ago I bought some more at $500 when management started to repurchase shares at the same price:( :(.. then doubled down last year at $200 luckily so now I could get out of jail free. Funny thing is, I first noticed Bruce about '99 in an interview where he mentioned WTM and investing with them. In hindsight I should have bought Fairholme and dumped WTM then.. At the last AGM the WTM boss said that Bruce had resigned suddenly from the board because he owned a co. that was in competition with them--AIG I suppose--and thanked him but also groused a lot abut what a difficult, tough board member he had been. SInce Bruce also sold all his WTM, maybe he thinks they aren't as sharp as they were. ) Of course WTM at 75% of book and p/e of 12 is cheap, and pretty solid, so anything new would have to look even better.
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