What Canadian Value is Watching/Reading/Writing

Watching and Reading:

http://www.gurufocus.com/news/219066/gmo-7-year-asset-return-forecasts-april-2013--sees-negative-returns-from-us-stocks/affid/81000

http://www.gurufocus.com/news/219017/longleaf-partners-q1-2013-shareholder-report/affid/81000

http://www.gurufocus.com/news/219005/whitney-tilson-presentation--an-overview-of-the-economy-and-stock-market/affid/81000

http://www.gurufocus.com/news/218964/david-tepper-says-the-case-for-being-long-equities-is-overwhelming/affid/81000

http://www.gurufocus.com/news/218972/hedge-fund-giant-fortress-investment-groups-favorite-markets-to-buy/affid/81000

http://www.gurufocus.com/news/218971/a-new-secular-outlook-from-pimcos-elerian--the-new-normal-morphing/affid/81000

http://www.gurufocus.com/news/218963/notes-from-the-markel-breakfast-meeting-held-during-the-berkshire-hathaway-agm/affid/81000

http://www.gurufocus.com/news/218962/dan-loebs-third-point-letter-to-sony-with-a-twostep-action-plan/affid/81000

http://www.gurufocus.com/news/218761/greenlight-capital-david-einhorns-first-quarter-letter-to-investors/affid/81000

Interview With Markel's Tom Gayner

http://www.gurufocus.com/news/218468/markel-manager-tom-gayner-interview-with-gurufocus-in-omaha/affid/81000

Notes From the Ira Sohn Conference

Courtesy of Market Folly:

http://www.marketfolly.com/2013/05/notes-from-ira-sohn-conference-2013.html

What Canadian Value is Watching/Reading/Writing

Writing:

http://seekingalpha.com/article/1415211-2-oil-companies-targeting-big-rewards-in-underexplored-regions

http://seekingalpha.com/article/1413571-growth-in-united-states-oil-production-peaked-in-2012

Reading/Watching:

Guy Gottfried Presentation - May 6, 2013 Value Investing Congress - GuruFocus.com

Meet the Women CEOs of Berkshire Hathaway

Zeke Ashton Presentation - May 6, 2013 Value Investing Congress - GuruFocus.com

Robotti and Company Presentation - May 6, 2013 Value Investing Congress - GuruFocus.com

The Absolute Return Letter May 2013 - In the Long Run We Are All in Trouble - GuruFocus.com

Whitney Tilson Presentation - May 6, 2013 Value Investing Congress - GuruFocus.com

EOG Resource's CEO Mark Papa Talks Q1 Earnings

Tweedy Browne Q1 2013 Commentary

  Tweedy Browne Fund Commentary Q1 2013 Final

What Canadian Value Is Watching/Reading/Writing

Writing:

http://seekingalpha.com/article/1403881-don-t-buy-apple-or-google-invest-in-what-they-are-going-to-buy

Reading/Watching:

Buffett, Munger and Gates on Fox Business News - GuruFocus.com

Charlie Munger Fortune Interview - 

Jim O

Graham and Doddsville - Spring 2013 Issue - GuruFocus.com

Fortune Magazine

Buffett Author Alice Schroeder Discussing the Berkshire Succession Plan - GuruFocus.com

Canadian Oil Prices - May 6, 2013

Oil & Gas Prices

May 6, 2013

NYMEX-WTI
CAD 95.61 / BBL
NYMEX Natural Gas
CAD 4.04 / MMBTU
AECO/NGX Spot Price
CAD 3.27 / GJ
Imperial Light Crude
CAD 83.90 / BBL
Imperial Bow River (25 API)
CAD 69.44 / BBL

What Canadian Value is Watching/Reading/Writing

Wealthtrack Interviews Financial Thought Leader Charles Ellis - GuruFocus.com

Iscar Chairman Eitan Wertheimer Discusses Selling the Remainder of the Company to Buffett - GuruFocus.com

Value Investor David Winters Thinks Berkshire Hathaway is Still Undervalued - GuruFocus.com

Milken Global Institute 2013 Conference - Milken Has An Hour Conversation With Howard Marks - GuruFocus.com

Berkshire Annual Meeting Blog

A question by question recap of the event:

http://dealbook.nytimes.com/2013/05/04/live-blog-berkshire-hathaways-2013-shareholder-meeting/

CNBC Gets A Rare Interview With Charlie Munger

Oil Supply Shortfalls Are Mounting

Comments from this analyst:

- demand is still relatively weak
- supply side is what is creating some bullish sentiment
- outside the United States production has not been good Brazil, Iran, Iraq and Kazakhstan have all disappointed
- what investors need to realize that shale oil, oil sands, deepwater and artic oil sources all need very high oil prices to work, this is going to provide support for oil prices in the future
- Russian shale is going to require $90 plus oil

What Canadian Value is Watching/Reading/Writing

Writing:

http://seekingalpha.com/article/1388711-suncor-is-growing-on-all-fronts-dividend-share-repurchases-and-production

http://seekingalpha.com/article/1388451-chesapeake-energy-loses-money-on-its-recent-sale-of-marcellus-acreage

Watching/Reading:

David Winters (Wintergreen) Annual Letter to Investors - GuruFocus.com

Milken Institute 2013 Conference - The End of Energy Scarcity (Featuring Boone Pickens) - GuruFocus.com

Bill Gross May 2013 Investment Outlook - There Will Be Haircuts - GuruFocus.com

Milken Institute Global Conference 2013 - The World

Milken Institute 2013 Global Conference - Alternative Investments Panel Featuring Wilbur Ross - GuruFocus.com

Canadian Light Oil Prices April 30, 2013

Oil & Gas Prices

April 30, 2013

NYMEX-WTI
CAD 94.50 / BBL
NYMEX Natural Gas
CAD 4.39 / MMBTU
AECO/NGX Spot Price
CAD 3.57 / GJ
Imperial Light Crude
CAD 91.85 / BBL
Imperial Bow River (25 API)
CAD 70.56 / BBL

What Canadian Value is Reading/Writing/Watching

Writing:

http://albertaventure.com/2013/04/on-the-money-synodon/

Reading/Watching:

The Legacy of Benjamin Graham - Columbia Business School Video - GuruFocus.com

Buffett Author Robert Hagstrom Discusses Whether the Retail Investor Can Mimic Buffett - GuruFocus.com

Private Equity and Venture Capital Conference - Howard Marks - GuruFocus.com

Milken Institute 2013 - A Conversation with Entertainment Mogul Barry Diller - GuruFocus.com

Icecap Asset Management April 2013 Outlook on the Markets - GuruFocus.com

Whitecap Resources Purchases Viking Light Oil Waterflood Assets

CALGARY, ALBERTA – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to announce that it has entered into an agreement to purchase an existing Viking light oil waterflood asset in the Dodsland area of west central Saskatchewan for total consideration of $110 million (the “Acquisition”). The Acquisition adds 900 boe/d (95 percent light oil) of high netback, operated production with a long reserve life index and a low base decline of 20 percent. The Acquisition includes strategic facilities and oil sales pipeline infrastructure and is synergistic to our existing Viking operations at our Lucky Hills core area located only 10 miles away. 

In connection with the Acquisition, Whitecap will be raising $110 million through a $90 million bought deal common share financing and a $20 million non-brokered private placement of flow-through common shares on a CDE flow-through basis. 

STRATEGIC RATIONALE 
The Acquisition represents the successful continuation of Whitecap’s objective to strengthen the sustainability of its dividend-growth strategy by acquiring high netback, low decline assets that can provide consistent growth and substantial free cash flow. We estimate that production from the Acquisition will increase to 1,200 boe/d in 2014 from its current 900 boe/d and after planned 2014 capital expenditures of $8.2 million, generate free cash flow in 2014 of $17.2 million. The Dodsland Viking oil pool is near our existing Lucky Hills Viking assets where we have significant horizontal drilling and multi stage fracturing expertise. Acquiring an analogous pool in close proximity to our existing Viking development is consistent with our goal to remain highly focused.

The Acquisition includes 24.3 (18.7 net) sections of principally crown lands in the heart of the Dodsland Viking oil pool that has been under waterflood since 1967. This area of the pool has some of the thickest and highest quality Viking reservoir in the Dodsland trend. The waterflood has been and continues to be effective at maintaining reservoir pressure which results in a production decline of 12 percent for the vertical development in this pool. The operator has also drilled 25 horizontal wells with continually improving results, representing 390 net bopd at present. With cumulative oil production of 24 MMbbl (19 percent recovery factor), a current water-cut of only 51 percent and offsetting pool results, Whitecap believes there is considerable incremental upside to the pool which can be realized through a combination of horizontal drilling, water injector reactivations and injector conversions.

What Canadian Value Is Watching/Reading/Writing

Writing:

http://seekingalpha.com/article/1380021-the-keystone-xl-pipeline-being-delayed-until-late-2015-is-good-for-canada

Reading/Watching:

25 Quotes from Charlie Munger - GuruFocus.com

Transcript and Video of Warren Buffett

Visitor Guide to the 2013 Berkshire Hathaway Annual Meeting - GuruFocus.com

Berkshire Portfolio Managers Weschler and Combs Bonuses to Exceed $50 Million for 2012 - GuruFocus.com

Jim O

What Canadian Value is Reading/Writing/Watching

Writing:

http://seekingalpha.com/article/1375771-legendary-short-seller-jim-chanos-likes-being-long-apple-and-short-dell

http://seekingalpha.com/article/1373691-mgt-capital-diversifies-operations-by-entering-a-high-growth-business

Reading/Watching:

Millennium Wave

Goldman

Canadian Light Oil Prices April 26, 2013

Oil & Gas Prices

April 26, 2013

NYMEX-WTI
CAD 93.64 / BBL
NYMEX Natural Gas
CAD 4.17 / MMBTU
AECO/NGX Spot Price
CAD 3.45 / GJ
Imperial Light Crude
CAD 91.85 / BBL
Imperial Bow River (25 API)
CAD 70.56 / BBL

Jim Chanos Is Long Apple