I just finished watching the episode of WealthTrack. Bruce Berkowitz has some interesting things to say. He is moving out of the energy sector and into health care. Berkowitz requires a 10% free cash flow yield. Great quote by Berkowitz about why he focuses on free cash flow: "Cash is all you can spend."

I also found the comments by art market expert Michael Moses to be of interest, since I hold Sotheby's. He maintains an art index at his website, Beautiful Asset Advisors. Moses feels the art market is strong. His index was up +20% last year and the spring auctions were quite good. He believes that a decline in the art market takes a prolonged and substantial down turn in the economy to impact the buyers of art and art prices. While he confirms that post war and contemporary art is going through the roof at great than 25% appreciation, old masters are not doing as well with only 8% appreciation. Low priced works tend to outperform high priced market. Moses take home message, "Don't overpay for art." Use an art index and adjust a previous sale price to determine a price that you should avoid paying above.

"You cannot spend clicks"
I will admit I did not spend much attention on the other guys, but Burkowitz has moved to my top 3 gurus. All his picks have a clear thought out thesis with most of them being no brainers.

http://www.contrarianvalueinvesting.com/