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	<title>The Enlightened American &#187; BAM</title>
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	<link>http://enlightened-american.com</link>
	<description>One person's quest to make sense of a senseless American economy and society.</description>
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		<title>Tracking 2011 Q1 Moves by Seth Klarman and Bruce Berkowitz</title>
		<link>http://enlightened-american.com/2011/05/25/tracking-2011-q1-moves-by-seth-klarman-and-bruce-berkowitz</link>
		<comments>http://enlightened-american.com/2011/05/25/tracking-2011-q1-moves-by-seth-klarman-and-bruce-berkowitz#comments</comments>
		<pubDate>Wed, 25 May 2011 16:55:03 +0000</pubDate>
		<dc:creator>Davy</dc:creator>
				<category><![CDATA[Pro's Picks]]></category>
		<category><![CDATA[ANV]]></category>
		<category><![CDATA[AVEO]]></category>
		<category><![CDATA[AZN]]></category>
		<category><![CDATA[BAM]]></category>
		<category><![CDATA[BBEP]]></category>
		<category><![CDATA[bmy]]></category>
		<category><![CDATA[CSCO]]></category>
		<category><![CDATA[CSE]]></category>
		<category><![CDATA[GGP]]></category>
		<category><![CDATA[GSK]]></category>
		<category><![CDATA[HUM]]></category>
		<category><![CDATA[LLY]]></category>
		<category><![CDATA[PDLI]]></category>
		<category><![CDATA[REGN]]></category>
		<category><![CDATA[T]]></category>
		<category><![CDATA[TEF]]></category>
		<category><![CDATA[VZ]]></category>
		<category><![CDATA[WCG]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/?p=802</guid>
		<description><![CDATA[Being a value investor, I always take great interest to see what long-established value gurus like Seth Klarman and Bruce Berkowitz are doing with their portfolios. While 13F-HR filings are incomplete snapshots at best as they detail no information on bonds, foreign stocks and other esoteric asset classes, some insight may still be gleaned from [...]]]></description>
		<wfw:commentRss>http://enlightened-american.com/2011/05/25/tracking-2011-q1-moves-by-seth-klarman-and-bruce-berkowitz/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Portfolio +0.8% Year-To-Date</title>
		<link>http://enlightened-american.com/2010/03/01/portfolio-0-8-year-to-date</link>
		<comments>http://enlightened-american.com/2010/03/01/portfolio-0-8-year-to-date#comments</comments>
		<pubDate>Mon, 01 Mar 2010 19:17:59 +0000</pubDate>
		<dc:creator>Davy</dc:creator>
				<category><![CDATA[Enlightened-American Portfolio]]></category>
		<category><![CDATA[AUY]]></category>
		<category><![CDATA[BAM]]></category>
		<category><![CDATA[CHK]]></category>
		<category><![CDATA[enlightened-american portfolio]]></category>
		<category><![CDATA[MFN]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/?p=644</guid>
		<description><![CDATA[THE ENLIGHTENED-AMERICAN PORTFOLIO SPREADSHEET Enlightened-American Portfolio: +0.8% through Feb, 2010 (my actual IRR, including cash balance) DJIA: -1.0% Nasdaq: -1.4% S&#38;P 500: -1.0% DJ Wilshire 5000: -0.4% Russell 2000 (smallcap): -0.9% February was a sedentary month for us here at Enlightened American. Sometimes, indeed most times when dealing with investing, doing nothing is the best [...]]]></description>
		<wfw:commentRss>http://enlightened-american.com/2010/03/01/portfolio-0-8-year-to-date/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Portfolio +23.7% Through August 2009</title>
		<link>http://enlightened-american.com/2009/09/01/portfolio-237-through-august-2009</link>
		<comments>http://enlightened-american.com/2009/09/01/portfolio-237-through-august-2009#comments</comments>
		<pubDate>Tue, 01 Sep 2009 23:35:58 +0000</pubDate>
		<dc:creator>Davy</dc:creator>
				<category><![CDATA[Enlightened-American Portfolio]]></category>
		<category><![CDATA[Investment Strategies]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[BAM]]></category>
		<category><![CDATA[BPO]]></category>
		<category><![CDATA[CHK]]></category>
		<category><![CDATA[commercial real estate]]></category>
		<category><![CDATA[CRE]]></category>
		<category><![CDATA[enlightened-american portfolio]]></category>
		<category><![CDATA[gold]]></category>
		<category><![CDATA[market outlook]]></category>
		<category><![CDATA[natural gas]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/?p=399</guid>
		<description><![CDATA[View the spreadsheet containing all disclosures for my complete equity portfolio, including initial entry points, YTD returns, total returns, etc. through August 31, 2009. THE ENLIGHTENED-AMERICAN PORTFOLIO SPREADSHEET Enlightened-American Portfolio: +23.7% YTD (my actual IRR, which lags the equal-weighted returns) DJIA: +8.2% Nasdaq: +27.4% S&#38;P 500: +13.0% DJ WIlshire 5000: +15.4% Russell 2000 (smallcap): +14.5% [...]]]></description>
		<wfw:commentRss>http://enlightened-american.com/2009/09/01/portfolio-237-through-august-2009/feed</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Brookfield Asset Mgmt Holding Up In Global Downturn</title>
		<link>http://enlightened-american.com/2009/02/22/brookfield-asset-mgmt-holding-up-in-global-downturn</link>
		<comments>http://enlightened-american.com/2009/02/22/brookfield-asset-mgmt-holding-up-in-global-downturn#comments</comments>
		<pubDate>Sun, 22 Feb 2009 21:53:58 +0000</pubDate>
		<dc:creator>Davy</dc:creator>
				<category><![CDATA[Enlightened-American Portfolio]]></category>
		<category><![CDATA[Stock Research]]></category>
		<category><![CDATA[BAM]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/?p=310</guid>
		<description><![CDATA[Brookfield Asset Management (BAM) has a lot of moving parts in its operations so I&#8217;ll briefly highlight key financial results and follow with my thoughts on the investment going forward. I highly encourage readers to review BAM&#8217;s earnings release at their website: In a difficult year, Brookfield Asset Mgmt generated $1.4B in free cash flow [...]]]></description>
		<wfw:commentRss>http://enlightened-american.com/2009/02/22/brookfield-asset-mgmt-holding-up-in-global-downturn/feed</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Portfolio Performance: -18.1% YTD thru Nov 2008</title>
		<link>http://enlightened-american.com/2008/12/01/portfolio-performance-181-ytd-thru-nov-2008</link>
		<comments>http://enlightened-american.com/2008/12/01/portfolio-performance-181-ytd-thru-nov-2008#comments</comments>
		<pubDate>Mon, 01 Dec 2008 16:47:48 +0000</pubDate>
		<dc:creator>Davy</dc:creator>
				<category><![CDATA[Enlightened-American Portfolio]]></category>
		<category><![CDATA[Gurus]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[acas]]></category>
		<category><![CDATA[BAM]]></category>
		<category><![CDATA[bonds]]></category>
		<category><![CDATA[CHK]]></category>
		<category><![CDATA[enlightened-american portfolio]]></category>
		<category><![CDATA[gold]]></category>
		<category><![CDATA[Jim Rogers]]></category>
		<category><![CDATA[Marc Faber]]></category>
		<category><![CDATA[NOV]]></category>
		<category><![CDATA[SKM]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/?p=269</guid>
		<description><![CDATA[Click here to view the spreadsheet containing all disclosures for my complete equity portfolio, including initial entry points, YTD returns, total returns, etc. THE ENLIGHTENED-AMERICAN PORTFOLIO SPREADSHEET Enlightened-American Portfolio: -18.1% YTD (including dividends) DJIA: -33.4% Nasdaq: -42.1% S&#38;P 500: -39.0% DJ WIlshire 5000: -39.6% Russell 2000 (smallcap): -38.2% The portfolio sagged ever lower, finishing November down [...]]]></description>
		<wfw:commentRss>http://enlightened-american.com/2008/12/01/portfolio-performance-181-ytd-thru-nov-2008/feed</wfw:commentRss>
		<slash:comments>7</slash:comments>
		</item>
		<item>
		<title>Bruce Berkowitz, Bob Rodriguez &amp; Mohnish Pabrai &#8211; Q3 2008 Holdings</title>
		<link>http://enlightened-american.com/2008/11/17/bruce-berkowitz-bob-rodriguez-mohnish-pabrai-q3-2008-holdings</link>
		<comments>http://enlightened-american.com/2008/11/17/bruce-berkowitz-bob-rodriguez-mohnish-pabrai-q3-2008-holdings#comments</comments>
		<pubDate>Tue, 18 Nov 2008 06:15:17 +0000</pubDate>
		<dc:creator>Davy</dc:creator>
				<category><![CDATA[Gurus]]></category>
		<category><![CDATA[Pro's Picks]]></category>
		<category><![CDATA[BA]]></category>
		<category><![CDATA[BAM]]></category>
		<category><![CDATA[BRK.A]]></category>
		<category><![CDATA[bruce berkowitz]]></category>
		<category><![CDATA[frx]]></category>
		<category><![CDATA[HNR]]></category>
		<category><![CDATA[LUK]]></category>
		<category><![CDATA[mohnish pabrai]]></category>
		<category><![CDATA[NOC]]></category>
		<category><![CDATA[PFE]]></category>
		<category><![CDATA[robert rodriguez]]></category>
		<category><![CDATA[SHLD]]></category>
		<category><![CDATA[SIG]]></category>
		<category><![CDATA[TX]]></category>
		<category><![CDATA[UNH]]></category>
		<category><![CDATA[USG]]></category>
		<category><![CDATA[WCG]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/?p=262</guid>
		<description><![CDATA[Fairholme Capital, led by Bruce Berkowitz, runs a pretty focused portfolio and I found their most recent filing very interesting: Berkowitz&#8217;s two largest new positions were big stakes in Boeing (BA) and Northrop Grumman (NOC), the win-win US tanker contract trade, if you will.  I have both on my watchlist and keep in mind that [...]]]></description>
		<wfw:commentRss>http://enlightened-american.com/2008/11/17/bruce-berkowitz-bob-rodriguez-mohnish-pabrai-q3-2008-holdings/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Brookfield Asset Mgmt (BAM) Q3 2008 Update</title>
		<link>http://enlightened-american.com/2008/11/11/brookfield-asset-mgmt-bam-q3-2008-update</link>
		<comments>http://enlightened-american.com/2008/11/11/brookfield-asset-mgmt-bam-q3-2008-update#comments</comments>
		<pubDate>Tue, 11 Nov 2008 21:29:52 +0000</pubDate>
		<dc:creator>Davy</dc:creator>
				<category><![CDATA[Enlightened-American Portfolio]]></category>
		<category><![CDATA[Stock Research]]></category>
		<category><![CDATA[BAM]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/?p=252</guid>
		<description><![CDATA[All results US$ unless otherwise noted: Through nine months of 2008, net operating cash flow (FCF) came in at $1.2B, down 12% y/y.  With the Wall Street meltdown, the performance of BAM&#8217;s largest segments (commercial properties, power, infrastructure) is reassuring, with increases across the board except for the infrastructure segment, which was partially spun off [...]]]></description>
		<wfw:commentRss>http://enlightened-american.com/2008/11/11/brookfield-asset-mgmt-bam-q3-2008-update/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Portfolio Performance: -0.4% YTD through September 2008</title>
		<link>http://enlightened-american.com/2008/10/01/portfolio-performance-04-ytd-through-september-2008</link>
		<comments>http://enlightened-american.com/2008/10/01/portfolio-performance-04-ytd-through-september-2008#comments</comments>
		<pubDate>Thu, 02 Oct 2008 03:35:13 +0000</pubDate>
		<dc:creator>Davy</dc:creator>
				<category><![CDATA[Enlightened-American Portfolio]]></category>
		<category><![CDATA[acas]]></category>
		<category><![CDATA[AMAT]]></category>
		<category><![CDATA[BAM]]></category>
		<category><![CDATA[dvn]]></category>
		<category><![CDATA[FCX]]></category>
		<category><![CDATA[INTC]]></category>
		<category><![CDATA[NTE]]></category>
		<category><![CDATA[NZT]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/?p=233</guid>
		<description><![CDATA[Click here to view the spreadsheet containing all disclosures for my complete equity portfolio, including initial entry points, YTD returns, total returns, etc. THE ENLIGHTENED-AMERICAN PORTFOLIO SPREADSHEET Enlightened-American Portfolio: -0.4% YTD (including dividends) DJIA: -18.2% Nasdaq: -21.5% S&#38;P 500: -20.7% DJ WIlshire 5000: -20.0% Reuters 2000 (smallcap): -11.3% Unfortunately, the listed portfolio has wandered into negative [...]]]></description>
		<wfw:commentRss>http://enlightened-american.com/2008/10/01/portfolio-performance-04-ytd-through-september-2008/feed</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>(Back) By Popular Demand, BAM (Brookfield Asset Management)</title>
		<link>http://enlightened-american.com/2008/05/23/by-popular-demand-bam-brookfield-asset-management</link>
		<comments>http://enlightened-american.com/2008/05/23/by-popular-demand-bam-brookfield-asset-management#comments</comments>
		<pubDate>Fri, 23 May 2008 21:40:44 +0000</pubDate>
		<dc:creator>Davy</dc:creator>
				<category><![CDATA[Stock Research]]></category>
		<category><![CDATA[BAM]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/2008/05/23/by-popular-demand-bam-brookfield-asset-management/</guid>
		<description><![CDATA[I&#8217;m not sure what happened but a previous version of this post was deleted so I&#8217;m reposting it. As I said before, a reader saw my mention of BAM in the post about David Winters&#8217; portfolio and asked if I had done any research, which I had. Unfortunately, I didn&#8217;t have the discipline to buy [...]]]></description>
		<wfw:commentRss>http://enlightened-american.com/2008/05/23/by-popular-demand-bam-brookfield-asset-management/feed</wfw:commentRss>
		<slash:comments>5</slash:comments>
		</item>
		<item>
		<title>2008 Q1 13F-HR Filings: Speculative Edition</title>
		<link>http://enlightened-american.com/2008/05/20/2008-q1-13f-hr-filings-speculative-edition</link>
		<comments>http://enlightened-american.com/2008/05/20/2008-q1-13f-hr-filings-speculative-edition#comments</comments>
		<pubDate>Tue, 20 May 2008 22:49:56 +0000</pubDate>
		<dc:creator>Davy</dc:creator>
				<category><![CDATA[Gurus]]></category>
		<category><![CDATA[aem]]></category>
		<category><![CDATA[BAM]]></category>
		<category><![CDATA[Boone Pickens]]></category>
		<category><![CDATA[BP]]></category>
		<category><![CDATA[BX]]></category>
		<category><![CDATA[CEF]]></category>
		<category><![CDATA[CVX]]></category>
		<category><![CDATA[DD]]></category>
		<category><![CDATA[GG]]></category>
		<category><![CDATA[HAL]]></category>
		<category><![CDATA[Jim Puplava]]></category>
		<category><![CDATA[MFN]]></category>
		<category><![CDATA[RIG]]></category>
		<category><![CDATA[SKF]]></category>
		<category><![CDATA[SLB]]></category>
		<category><![CDATA[SLW]]></category>
		<category><![CDATA[VLO]]></category>
		<category><![CDATA[Wintergreen Fund]]></category>
		<category><![CDATA[WTR]]></category>
		<category><![CDATA[WY]]></category>
		<category><![CDATA[XOM]]></category>
		<category><![CDATA[XTO]]></category>

		<guid isPermaLink="false">http://enlightened-american.com/2008/05/20/2008-q1-13f-hr-filings-speculative-edition/</guid>
		<description><![CDATA[T. Boone Pickens, via BP Capital, was fairly active in adding and building positions. Pickens made headlines earlier this year by predicting a drop in oil prices for the first half of 2008 and then quickly backtracking as oil has smashed through record prices. Here are some highlights from the filing: Reopened a big position [...]]]></description>
		<wfw:commentRss>http://enlightened-american.com/2008/05/20/2008-q1-13f-hr-filings-speculative-edition/feed</wfw:commentRss>
		<slash:comments>1</slash:comments>
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