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One "synthetic" way to get around this restriction is to buy a combination of PSH bonds (6.4% YTM) and VRX stock. The combined return of this is likely to mimic PSH returns due to the fact that the bonds don't have the asset management and incentive fees associated with its returns. Problem is...

I recall Buffett saying to Becky Quick that his non-BRK networth was around $100M and that he was long JPM but its been a few years so my memory could be faulty. This guy provides some evidence that the non-brk networth might be $1b-$2b...

I asked Def from IB to explain what is going on here. Hopefuly he will find out and let us know if this is temporary or permanent

Not that I expect him to write an article saying stocks are a sell but on interviews I can't recall him saying that things are starting to get pricey

Even the Buffett indicator is now higher (pricier) than in 2007 http://www.advisorperspectives.com/dshort/updates/Market-Cap-to-GDP.php Is he trying to avoid being a party popper or he just doesn't give a damn?

If Buffett switches from stocks to bonds depending on valuations and sentiment, how come the article "sell america I am" didn't come out. Because I think a lot of data supports the idea that now stocks are a better sell than in 2007. Unless he is doing the whole 'stocks compared to interest...

Here is a random question that has nothing to do with anything I discussed recently but I got curious about. Buffett in 2008 said on "Buy American I am" article: "So ... I’ve been buying American stocks. This is my personal account I’m talking about, in which I previously owned nothing but...

I could only imagine what would have happened if Valeant had issues with safety disclosures like the other pharma companies did. The shorts and the NYT would be calling for the public hanging of the CEO

Valeant is a hated company, Ackman is a hated HF manager. You put these two together and the media frenzy went nuts. This lead to a significant misunderstanding by investors and everybody else

Here are the slides which to me has pretty much destroyed the short argument (unless you are talking about a day trade) To me the key phrase no one is talking about is the 'Valeant is notably absent from this list'. Essentially you have all these shaddy pharma companies doing bad stuff over...

The real question is what kind of position sizing to take. I'm inclined to go at the most to 5% of my networth into it. Probably around 3% initially and another 2% if it tanks a ton (maybe I should short a put to generate that effect). If the shorts with no lawyers, chasing downside momentum and...

So at this point I'm looking to review Ackman's slides over the weekend and buy VRX on monday. With the downside momentum I probably will get to buy it cheaper and with more info. I'm not selling one share of PSH

The JPM london whale thing is a good analog because banks are hated, big banks even more. They are heavily regulated and JPM did mess it up. The media just pounded on them for weeks. ZeroHedge was bashing it daily. Yet, the fundamentals win out over the long-term. You just can't stop a stock...

If Citron is right the stock drops $50, if Ackman is right the stock rips $150. Good risk-reward for longs. If Hempton is right the stock drops $100 but he provided no basis for his claim for the huge fine. Ackman did, he had a lawyer in the call as well. She even addressed a question I sent...

Today JPM trades north of $60+ and the idiots who bashed a stock during a one time charge sell-off are nowhere to be found

This is similar to the whole JPM london whale thing (a point I raised earlier and that Ackman also did). IIRC JPM tanked from $43 to $29 over weeks on an totally silly thing that had no long-term impact on the business (a one time charge)

Ackman did a very strong presentation, regardless of what the idiots on twitter say. He pretty much removed off the table the scenario where VRX would have fined so much it would go belly up. There is simply no basis to believe that. Other companies have done stuff far worse than VRX (and...

Ackman slide showing healthcare settlements (with some companies being repeat offenders) has pretty much shreded the short thesis to pieces

Ackman just killed the 'large fine' argument. wont sell anymore my PSH. VRX stock prob a buy here

Ackman just killed the 'large fine' argument. wont sell anymore