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	<title>The Enlightened American &#187; Search Results  &#187;  HRZ</title>
	<atom:link href="http://enlightened-american.com/?s=HRZ&#038;feed=rss2" rel="self" type="application/rss+xml" />
	<link>http://enlightened-american.com</link>
	<description>One person's quest to make sense of a senseless American economy and society.</description>
	<lastBuildDate>Wed, 01 Sep 2010 19:23:49 +0000</lastBuildDate>
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		<title>Seth Klarman &amp; Marty Whitman Are Sellers But Meryl Witmer Buys in Q3 2009</title>
		<link>http://enlightened-american.com/2009/11/16/q3-2009-portfolio-moves-for-seth-klarman-marty-whitman-and-meryl-witmer</link>
		<comments>http://enlightened-american.com/2009/11/16/q3-2009-portfolio-moves-for-seth-klarman-marty-whitman-and-meryl-witmer#comments</comments>
		<pubDate>Mon, 16 Nov 2009 19:25:24 +0000</pubDate>
		<dc:creator>Davy Bui</dc:creator>
				<category><![CDATA[Gurus]]></category>
		<category><![CDATA[Pro's Picks]]></category>
		<category><![CDATA[AKR]]></category>
		<category><![CDATA[CIT]]></category>
		<category><![CDATA[ENZN]]></category>
		<category><![CDATA[FAF]]></category>
		<category><![CDATA[HRZ]]></category>
		<category><![CDATA[JOE]]></category>
		<category><![CDATA[KID]]></category>
		<category><![CDATA[martin whitman]]></category>
		<category><![CDATA[Meryl Witmer]]></category>
		<category><![CDATA[PDLI]]></category>
		<category><![CDATA[PLD]]></category>
		<category><![CDATA[PVX]]></category>
		<category><![CDATA[SBCF]]></category>
		<category><![CDATA[Seth Klarman]]></category>
		<category><![CDATA[SFI]]></category>
		<category><![CDATA[VRX]]></category>
		<category><![CDATA[VSAT]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/?p=540</guid>
		<description><![CDATA[A reader asks if there is a way to monitor non-equity positions for Seth Klarman&#8217;s Baupost Group. The short answer is no, I know of no way to track non-equity holdings for any money manager unless they disclose that information voluntarily via a report or letter. As mentioned on this blog last week, Klarman doesn&#8217;t [...]<div id='wikinvestWireDiv540'><!--Wikinvest API HTML Response-->
		<!--metadata generated='Wed, 08 Sep 2010 18:05:59 -0700'-->
		
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		<wfw:commentRss>http://enlightened-american.com/2009/11/16/q3-2009-portfolio-moves-for-seth-klarman-marty-whitman-and-meryl-witmer/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Seth Klarman, Marty Whitman &amp; David Einhorn 2009 Q2 13F Filings</title>
		<link>http://enlightened-american.com/2009/08/17/seth-klarman-marty-whitman-david-einhorn-2009-q2-13f-filings</link>
		<comments>http://enlightened-american.com/2009/08/17/seth-klarman-marty-whitman-david-einhorn-2009-q2-13f-filings#comments</comments>
		<pubDate>Mon, 17 Aug 2009 19:22:00 +0000</pubDate>
		<dc:creator>Davy Bui</dc:creator>
				<category><![CDATA[Pro's Picks]]></category>
		<category><![CDATA[13F-HR]]></category>
		<category><![CDATA[AOI]]></category>
		<category><![CDATA[Baupost Group]]></category>
		<category><![CDATA[BBEP]]></category>
		<category><![CDATA[David Einhorn]]></category>
		<category><![CDATA[EMC]]></category>
		<category><![CDATA[GDX]]></category>
		<category><![CDATA[GLD]]></category>
		<category><![CDATA[Greenlight Capital]]></category>
		<category><![CDATA[HCC]]></category>
		<category><![CDATA[HRZ]]></category>
		<category><![CDATA[LINE]]></category>
		<category><![CDATA[martin whitman]]></category>
		<category><![CDATA[PDLI]]></category>
		<category><![CDATA[PPDI]]></category>
		<category><![CDATA[PVX]]></category>
		<category><![CDATA[RDN]]></category>
		<category><![CDATA[RE]]></category>
		<category><![CDATA[Seth Klarman]]></category>
		<category><![CDATA[SPY]]></category>
		<category><![CDATA[TGT]]></category>
		<category><![CDATA[Third Avenue]]></category>
		<category><![CDATA[UFS]]></category>
		<category><![CDATA[URS]]></category>
		<category><![CDATA[WFR]]></category>
		<category><![CDATA[WY]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/?p=393</guid>
		<description><![CDATA[With the recent market rally, 2009 Q2 13F filings hold the allure of possibly yielding some indication as to what these respected managers may think of the rally. You can view Seth Klarman and Baupost&#8217;s hedge fund portfolio changes in spreadsheet form:. As always, the caveat with Klarman&#8217;s 13F filings is that Baupost plays in [...]<div id='wikinvestWireDiv393'><!--Wikinvest API HTML Response-->
		<!--metadata generated='Wed, 08 Sep 2010 17:22:02 -0700'-->
		
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		<wfw:commentRss>http://enlightened-american.com/2009/08/17/seth-klarman-marty-whitman-david-einhorn-2009-q2-13f-filings/feed</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>The Invaluable Follies of 2008</title>
		<link>http://enlightened-american.com/2009/01/14/the-invaluable-follies-of-2008</link>
		<comments>http://enlightened-american.com/2009/01/14/the-invaluable-follies-of-2008#comments</comments>
		<pubDate>Thu, 15 Jan 2009 03:01:08 +0000</pubDate>
		<dc:creator>Davy Bui</dc:creator>
				<category><![CDATA[Gurus]]></category>
		<category><![CDATA[Investment Strategies]]></category>
		<category><![CDATA[aem]]></category>
		<category><![CDATA[Benjamin Graham]]></category>
		<category><![CDATA[charlie munger]]></category>
		<category><![CDATA[CHK]]></category>
		<category><![CDATA[dvn]]></category>
		<category><![CDATA[HRZ]]></category>
		<category><![CDATA[iar]]></category>
		<category><![CDATA[NXG]]></category>
		<category><![CDATA[pds]]></category>
		<category><![CDATA[Seth Klarman]]></category>
		<category><![CDATA[tlm]]></category>
		<category><![CDATA[value investing]]></category>
		<category><![CDATA[Warren Buffett]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/?p=285</guid>
		<description><![CDATA[Painful as it was, 2008 was an invaluable learning experience. That may be a gross understatement.  The investment turbulence of 2008 may have been a formative experience &#8212; one of those events that truly molds people and perspectives for a lifetime.  That I managed to only lose -15% vs. a 39% drop in the S&#38;P [...]<div id='wikinvestWireDiv285'><!--Wikinvest API HTML Response-->
		<!--metadata generated='Wed, 08 Sep 2010 17:12:11 -0700'-->
		
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								(Dividends Value, 8/7/10)
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											<a target='_blank' class='wikinvestWireWikinvestItemLink' wikinvestWirePageId='48181' href='http://www.wikinvest.com/wiki/How_To_Invest' wikinvesttrackingurl='http://www.wikinvest.com/wiki/How_To_Invest' wireTopic='How To Invest'  onclick='Wikinvest.Wire.BloggerTracker.trackUrlClick( 147328, 48181 );'>How To Invest</a>
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		<!--/Wikinvest API HTML Response--></div>]]></description>
		<wfw:commentRss>http://enlightened-american.com/2009/01/14/the-invaluable-follies-of-2008/feed</wfw:commentRss>
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		<item>
		<title>LCA-Vision (LCAV): Possible Value Trap</title>
		<link>http://enlightened-american.com/2008/05/14/lca-vision-lcav-possible-value-trap</link>
		<comments>http://enlightened-american.com/2008/05/14/lca-vision-lcav-possible-value-trap#comments</comments>
		<pubDate>Wed, 14 May 2008 18:31:58 +0000</pubDate>
		<dc:creator>Davy Bui</dc:creator>
				<category><![CDATA[Stock Research]]></category>
		<category><![CDATA[LCAV]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/2008/05/14/lca-vision-lcav-possible-value-trap/</guid>
		<description><![CDATA[I&#8217;m sure many of you are saying &#8220;No duh, Davy! The stock&#8217;s only down 10% today after cutting the dividend.&#8221; But I&#8217;ve actually been looking at this stock for a few months now. Generally, I usually don&#8217;t post about stocks on my watchlist unless they get added to the portfolio. That said, I bring up [...]<div id='wikinvestWireDiv156'><!--Wikinvest API HTML Response-->
		<!--metadata generated='Wed, 08 Sep 2010 18:10:12 -0700'-->
		
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								(FreeTradePicks.com, 2/9/10)
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								(Barel Karsan, 11/14/08)
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								(The DIV-Net, 12/16/09)
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											<a target='_blank' class='wikinvestWireWikinvestItemLink' wikinvestWirePageId='3847' href='http://www.wikinvest.com/stock/LCA-Vision_(LCAV)' wikinvesttrackingurl='http://www.wikinvest.com/stock/LCA-Vision_(LCAV)' wireTopic='LCA-Vision'  onclick='Wikinvest.Wire.BloggerTracker.trackUrlClick( 119982, 3847 );'>LCA-Vision</a>
									at <a href='http://www.wikinvest.com' target='_blank'>Wikinvest</a>
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		<!--/Wikinvest API HTML Response--></div>]]></description>
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		<item>
		<title>Seth Klarman Doubles Down on Horizon Lines (HRZ)</title>
		<link>http://enlightened-american.com/2008/05/09/seth-klarman-doubles-down-on-horizon-lines-hrz</link>
		<comments>http://enlightened-american.com/2008/05/09/seth-klarman-doubles-down-on-horizon-lines-hrz#comments</comments>
		<pubDate>Fri, 09 May 2008 21:28:25 +0000</pubDate>
		<dc:creator>Davy Bui</dc:creator>
				<category><![CDATA[Gurus]]></category>
		<category><![CDATA[Stock Research]]></category>
		<category><![CDATA[ACMR]]></category>
		<category><![CDATA[HRZ]]></category>
		<category><![CDATA[Seth Klarman]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/2008/05/09/seth-klarman-doubles-down-on-horizon-lines-hrz/</guid>
		<description><![CDATA[As of his last filing, Klarman&#8217;s Baupost Group owned 3.8M shares. Today&#8217;s filing raises his stake to 7.1M shares or 23.74% of the company. I posted my more timid assessment of the company a few weeks ago. Perhaps I need a little more courage in my convictions. Maybe I&#8217;ll have to mull over HRZ some [...]<div id='wikinvestWireDiv154'><!--Wikinvest API HTML Response-->
		<!--metadata generated='Wed, 08 Sep 2010 16:03:20 -0700'-->
		
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								(Cheap Stocks, 10/29/08)
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								(Cheap Stocks, 11/19/08)
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								(The Shipping Stocks Blog, 4/29/09)
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		<title>Horizon Lines Battered By Several Storms</title>
		<link>http://enlightened-american.com/2008/05/05/horizon-lines-battered-by-several-storms</link>
		<comments>http://enlightened-american.com/2008/05/05/horizon-lines-battered-by-several-storms#comments</comments>
		<pubDate>Mon, 05 May 2008 18:51:21 +0000</pubDate>
		<dc:creator>Davy Bui</dc:creator>
				<category><![CDATA[Stock Research]]></category>
		<category><![CDATA[HRZ]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/2008/05/05/horizon-lines-battered-by-several-storms/</guid>
		<description><![CDATA[In the span of a month, Horizon Lines (HRZ) has been marked down from $17-18 down to $10. First came news of a federal subpoena relating to pricing practices in the Puerto Rico trade. And then followed an ugly earnings report, or more accurately, the nasty guidance revision. After raising diluted EPS guidance in February, [...]<div id='wikinvestWireDiv150'><!--Wikinvest API HTML Response-->
		<!--metadata generated='Wed, 08 Sep 2010 16:03:20 -0700'-->
		
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								<a target='_blank' class='wikinvestWireItemLink' wikinvestWirePageId='654134' href='http://topforeignstocks.com/2010/05/01/banking-industry-consolidation-in-puerto-rico'  onclick='Wikinvest.Wire.BloggerTracker.trackUrlClick( 119846, 654134 );' >Banking Industry Consolidation in Puerto Rico</a>
								
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								(Top Foreign Stocks, 5/1/10)
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								(Wealth Daily, 11/21/07)
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								(ModernGraham.com, 11/5/07)
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											<a target='_blank' class='wikinvestWireWikinvestItemLink' wikinvestWirePageId='3188' href='http://www.wikinvest.com/stock/Horizon_Lines_(HRZ)' wikinvesttrackingurl='http://www.wikinvest.com/stock/Horizon_Lines_(HRZ)' wireTopic='Horizon Lines'  onclick='Wikinvest.Wire.BloggerTracker.trackUrlClick( 119846, 3188 );'>Horizon Lines</a>, 
											<a target='_blank' class='wikinvestWireWikinvestItemLink' wikinvestWirePageId='715353' href='http://www.wikinvest.com/stock/Puerto_(SCL:PUERTO)' wikinvesttrackingurl='http://www.wikinvest.com/stock/Puerto_(SCL:PUERTO)' wireTopic='Puerto'  onclick='Wikinvest.Wire.BloggerTracker.trackUrlClick( 119846, 715353 );'>Puerto</a>
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		<wfw:commentRss>http://enlightened-american.com/2008/05/05/horizon-lines-battered-by-several-storms/feed</wfw:commentRss>
		<slash:comments>1</slash:comments>
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		<item>
		<title>UPDATED: Horizon Lines Drops Precipitously (&amp; Mysteriously)</title>
		<link>http://enlightened-american.com/2008/04/17/horizon-lines-drops-precipitously-mysteriously</link>
		<comments>http://enlightened-american.com/2008/04/17/horizon-lines-drops-precipitously-mysteriously#comments</comments>
		<pubDate>Thu, 17 Apr 2008 21:21:59 +0000</pubDate>
		<dc:creator>Davy Bui</dc:creator>
				<category><![CDATA[Stock Research]]></category>
		<category><![CDATA[HRZ]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/2008/04/17/horizon-lines-drops-precipitously-mysteriously/</guid>
		<description><![CDATA[Mystery solved: Horizon Lines Served With Warrants &#38; Subpoena RE: Antitrust Investigation  Details are scarce but my first instinct is that this is may not be as bad as it sounds.  Of course, my feelings mean nothing until more details about the investigation are released.  With HRZ&#8217;s heavy debt load and a large (and unbudgeted) capex program looming, it may be foolish to jump in here until a measure of the seriousness of the investigation is evident. . . An hour before today&#8217;s close, Horizon Lines [...]<div id='wikinvestWireDiv142'><!--Wikinvest API HTML Response-->
		<!--metadata generated='Wed, 08 Sep 2010 17:51:13 -0700'-->
		
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								<a target='_blank' class='wikinvestWireItemLink' wikinvestWirePageId='324465' href='http://www.shippingstocksblog.com/2009/04/horizon-lines-releases-first-quarter-results'  onclick='Wikinvest.Wire.BloggerTracker.trackUrlClick( 120178, 324465 );' >Horizon Lines releases first quarter results</a>
								
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								(The Shipping Stocks Blog, 4/29/09)
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								<a target='_blank' class='wikinvestWireItemLink' wikinvestWirePageId='404799' href='http://www.shippingstocksblog.com/2009/07/horizon-lines-2nd-quarter-results'  onclick='Wikinvest.Wire.BloggerTracker.trackUrlClick( 120178, 404799 );' >Horizon Lines 2nd quarter results</a>
								
								<span class='wikinvestWireItemMetadata'>
								(The Shipping Stocks Blog, 7/27/09)
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								<a target='_blank' class='wikinvestWireItemLink' wikinvestWirePageId='474546' href='http://www.marketfolly.com/2009/09/seth-klarman-sells-facet-biotech-fact.html'  onclick='Wikinvest.Wire.BloggerTracker.trackUrlClick( 120178, 474546 );' >Seth Klarman Sells Facet Biotech (FACT) Shares &amp; His Entire Horizon Lines (HRZ) Position</a>
								
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								(market folly, 9/10/09)
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											<a target='_blank' class='wikinvestWireWikinvestItemLink' wikinvestWirePageId='3188' href='http://www.wikinvest.com/stock/Horizon_Lines_(HRZ)' wikinvesttrackingurl='http://www.wikinvest.com/stock/Horizon_Lines_(HRZ)' wireTopic='Horizon Lines'  onclick='Wikinvest.Wire.BloggerTracker.trackUrlClick( 120178, 3188 );'>Horizon Lines</a>
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		<item>
		<title>Stock Research</title>
		<link>http://enlightened-american.com/2008/03/16/stock-research</link>
		<comments>http://enlightened-american.com/2008/03/16/stock-research#comments</comments>
		<pubDate>Sun, 16 Mar 2008 18:34:04 +0000</pubDate>
		<dc:creator>Davy Bui</dc:creator>
				<category><![CDATA[Enlightened-American Portfolio]]></category>
		<category><![CDATA[Stock Research]]></category>
		<category><![CDATA[acas]]></category>
		<category><![CDATA[aem]]></category>
		<category><![CDATA[AUY]]></category>
		<category><![CDATA[brnc]]></category>
		<category><![CDATA[CHCG]]></category>
		<category><![CDATA[CHK]]></category>
		<category><![CDATA[cryp]]></category>
		<category><![CDATA[cx]]></category>
		<category><![CDATA[dvn]]></category>
		<category><![CDATA[ESV]]></category>
		<category><![CDATA[HRZ]]></category>
		<category><![CDATA[itw]]></category>
		<category><![CDATA[JNJ]]></category>
		<category><![CDATA[MFN]]></category>
		<category><![CDATA[mwa]]></category>
		<category><![CDATA[mwa.b]]></category>
		<category><![CDATA[NZT]]></category>
		<category><![CDATA[PWE]]></category>
		<category><![CDATA[RJA]]></category>
		<category><![CDATA[SKM]]></category>
		<category><![CDATA[ssl]]></category>
		<category><![CDATA[tck]]></category>
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		<description><![CDATA[Here is the research from the old website. Any updates can be found on the this blog and will not be reflected on these older web pages. ENLIGHTENED-AMERICAN PORTFOLIO PICKS Agnico-Eagle Mines &#8211; (AEM-US) &#8211; updated 10/28/2007 Chesapeake Energy &#8211; (CHK-US) &#8211; updated 11/18/2007 Devon Energy Research Report &#8211; (DVN-US) &#8211; updated 02/12/2008 Elements ETN [...]<div id='wikinvestWireDiv115'><!--Wikinvest API HTML Response-->
		<!--metadata generated='Wed, 08 Sep 2010 17:51:13 -0700'-->
		
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		<title>Selling Naked Puts: Bad for Your Portfolio?</title>
		<link>http://enlightened-american.com/2008/02/25/selling-naked-puts-bad-for-your-portfolio</link>
		<comments>http://enlightened-american.com/2008/02/25/selling-naked-puts-bad-for-your-portfolio#comments</comments>
		<pubDate>Mon, 25 Feb 2008 19:51:00 +0000</pubDate>
		<dc:creator>Davy Bui</dc:creator>
				<category><![CDATA[Investment Strategies]]></category>
		<category><![CDATA[Pundits]]></category>
		<category><![CDATA[naked puts]]></category>
		<category><![CDATA[options]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/blog/?p=100</guid>
		<description><![CDATA[Maybe so, according to Steven Sears of Barron&#8217;s. He put out a piece last week on options strategies and how retail investors can be duped into risky strategies by shucksters. One of the strategies he implicitly poo-poohs is selling naked puts: &#8220;It gets better. He said he even heard one claim a few years ago [...]<div id='wikinvestWireDiv100'><!--Wikinvest API HTML Response-->
		<!--metadata generated='Wed, 08 Sep 2010 17:51:13 -0700'-->
		
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								<a target='_blank' class='wikinvestWireItemLink' wikinvestWirePageId='16930' href='http://www.stockgumshoe.com/2008/02/motley-fool-investor-x-and-the-one-of-a-kind-value-investment.html'  onclick='Wikinvest.Wire.BloggerTracker.trackUrlClick( 119778, 16930 );' >Motley Fool: “Investor X and the One of a Kind Value Investment”</a>
								
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								(Stock Gumshoe, 2/11/08)
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								<a target='_blank' class='wikinvestWireItemLink' wikinvestWirePageId='71052' href='http://thecuriousinvestor.com/2008/03/06/lessons-in-business-analysis'  onclick='Wikinvest.Wire.BloggerTracker.trackUrlClick( 119778, 71052 );' >Lessons in Business Analysis</a>
								
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								(The Curious Investor, 3/5/08)
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								<a target='_blank' class='wikinvestWireItemLink' wikinvestWirePageId='539536' href='http://moneymorning.com/2008/01/21/sears-breaks-up-assets-hints-at-partial-sale'  onclick='Wikinvest.Wire.BloggerTracker.trackUrlClick( 119778, 539536 );' >Sears Breaks up Assets, Hints at Partial Sale</a>
								
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								(Money Morning, 1/21/08)
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											<a target='_blank' class='wikinvestWireWikinvestItemLink' wikinvestWirePageId='190' href='http://www.wikinvest.com/stock/Sears_Holdings_(SHLD)' wikinvesttrackingurl='http://www.wikinvest.com/stock/Sears_Holdings_(SHLD)' wireTopic='Sears Holdings'  onclick='Wikinvest.Wire.BloggerTracker.trackUrlClick( 119778, 190 );'>Sears Holdings</a>
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		<title>Markets Now Approaching Fear</title>
		<link>http://enlightened-american.com/2008/01/17/markets-now-approaching-fear</link>
		<comments>http://enlightened-american.com/2008/01/17/markets-now-approaching-fear#comments</comments>
		<pubDate>Thu, 17 Jan 2008 20:45:00 +0000</pubDate>
		<dc:creator>Davy Bui</dc:creator>
				<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Stock Research]]></category>
		<category><![CDATA[HRZ]]></category>
		<category><![CDATA[stock market]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/blog/?p=88</guid>
		<description><![CDATA[For the last few weeks, it has been strange to see the market selling off consistently but yet the VIX gauge stay in the lower 20&#8242;s. The VIX is now inching toward 30 and things are getting a little scary out there. I&#8217;ll admit this sell-off causes me to hesitate to wade in. I was [...]<div id='wikinvestWireDiv88'><!--Wikinvest API HTML Response-->
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								<a target='_blank' class='wikinvestWireItemLink' wikinvestWirePageId='655649' href='http://www.condoroptions.com/index.php/options-education/you-dont-need-the-vix'  onclick='Wikinvest.Wire.BloggerTracker.trackUrlClick( 119892, 655649 );' >You Don’t Need the VIX</a>
								
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								(Condor Options, 5/4/10)
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								<a target='_blank' class='wikinvestWireItemLink' wikinvestWirePageId='50273' href='http://randomroger.blogspot.com/2008/01/market-viewing.html'  onclick='Wikinvest.Wire.BloggerTracker.trackUrlClick( 119892, 50273 );' >Market Viewing</a>
								
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								(Random Roger&#039;s Big Picture, 1/24/08)
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								<a target='_blank' class='wikinvestWireItemLink' wikinvestWirePageId='771326' href='http://pragcap.com/is-the-vix-a-signal-of-further-selling-to-come'  onclick='Wikinvest.Wire.BloggerTracker.trackUrlClick( 119892, 771326 );' >IS THE VIX A SIGNAL OF FURTHER SELLING TO COME?</a>
								
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								(THE PRAGMATIC CAPITALIST, 7/14/10)
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											<a target='_blank' class='wikinvestWireWikinvestItemLink' wikinvestWirePageId='388814' href='http://www.wikinvest.com/index/Volatility_Index_(VIX)' wikinvesttrackingurl='http://www.wikinvest.com/index/Volatility_Index_(VIX)' wireTopic='Volatility Index (VIX)'  onclick='Wikinvest.Wire.BloggerTracker.trackUrlClick( 119892, 388814 );'>Volatility Index (VIX)</a>
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