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I have sold out of the Fairholme Fund

November 19, 2013 – Comments (5) | RELATED TICKERS: SHLD , FNM-PK , FRE-PK

I have sold out of the Fairholme Fund.  [more]



Taking a long view of potash producers

July 31, 2013 – Comments (2) | RELATED TICKERS: CMP , POT

I checked my portfolio a couple of days ago to notice that Compass Minerals, one of my larger positions, had fallen 24%.  [more]



Update on automakers

July 02, 2013 – Comments (3)

For some years, I've been very cautiously bullish on GM and Ford. On one hand, they escaped the financial/economic crisis by the skins of their teeth. If not for government intervention, GM would not have escaped, period. And of course they're pretty leveraged companies in a highly cyclical industry.   [more]



I expect Berkshire to underperform at some point, but not today

May 02, 2013 – Comments (3)

At Berkshire's annual meeting this weekend, Warren Buffett will be inviting a prominent short seller to discuss his bearish thesis. In fact, it seems that Doug Kass is actually short the stock. In contrast, Berkshire is currently my largest stock position.  [more]



Where is Fuel Tech going?

March 15, 2013 – Comments (0)

Fuel Tech, which sells pollution control equipment to coal plants, was once one of my best ideas. Coal, especially coal with high impurities, leaves slag when burned in power plants. Slag can reduce efficiency, and it normally takes downtime to remove. Fuel Tech had proprietary chemicals that significantly reduced slag build up, and it also sold NOx reduction equipment (which helps with smog). It looked like the company would be able to make inroads in China and India by partnering with Itochu, a Japanese company that does business in China. And of course air quality is terrible in China, so you would think there would be a large market for this technology.  [more]

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