i listened to most of it (it was over 100 mins long):
i didnt take notes, but they talked about:
- being comfortable with current positions in the funds, citing a estimated price to value ratio in the high-40s percent range, which is the cheapest in the history of the fund
- CHK being valued at current prices is (15 bill) means that the whole company is valued at fair value for only its holdings in Marcellus shale and nothing else, making it incredibly cheap
- they still view DELL positively - thought it was a great value at 20, so even more so in the low teens; they continue to buy when they have cash
- all funds are pretty much fully invested, and have been receiving net inflows recently
- GM stock sold and replaced with GM bonds
- the partners recently made the largest personal purchases in the history of the funds
- Direct TV mentioned very positively, with a note that John Malone, historically a cable guy, has been buying via Liberty