The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Aecom Technology Corp COM 00766T100 13,192 471,637 SH   SOLE   0 0 471,637
Alpha Natural Resources COM 02076X102 427 7,105 SH   SOLE   0 0 7,105
Amern Tower Corp Class A CLA 029912AF9 8,386 162,385 SH   SOLE   0 0 162,385
Apple Computer Inc COM 37833100 445 1,379 SH   SOLE   0 0 1,379
Berkshire Hathaway Cl B CLB 84670207 879 10,969 SH   SOLE   0 0 10,969
Cenovus Energy Inc COM 15135U109 8,272 248,850 SH   SOLE   0 0 248,850
Chevrontexaco Corp COM 166764100 340 3,725 SH   SOLE   0 0 3,725
Chimera Investment Corp COM 16934Q109 57 13,835 SH   SOLE   0 0 13,835
Citigroup Inc COM 172967101 126 26,720 SH   SOLE   0 0 26,720
Companhia Vale Do Adr COM 91912E105 11,609 335,824 SH   SOLE   0 0 335,824
Encana Corporation COM 292505104 6,250 214,645 SH   SOLE   0 0 214,645
Exxon Mobil Corporation COM 30231G102 423 5,790 SH   SOLE   0 0 5,790
Gencor Industries Inc COM 368678108 123 17,000 SH   SOLE   0 0 17,000
Gramercy Capital Corp COM 384871109 408 176,470 SH   SOLE   0 0 176,470
Joy Global Inc COM 481165108 212 2,445 SH   SOLE   0 0 2,445
Metlife Inc COM 59156R108 8,076 181,735 SH   SOLE   0 0 181,735
National Oilwell Varco COM 637071101 14,883 221,308 SH   SOLE   0 0 221,308
Newcastle Investment Cp COM 65105M108 5,227 780,095 SH   SOLE   0 0 780,095
Posco Adr Sponsored ADR 693483109 9,851 91,474 SH   SOLE   0 0 91,474
Proshs Ultrashrt S&P PSHS ULSHT SP500 74347R883 7,394 311,205 SH   SOLE   0 0 311,205
Prudential Financial Inc Com 744320102 1,976 33,655 SH   SOLE   0 0 33,655
Rentech Inc COM 760112102 17 14,100 SH   SOLE   0 0 14,100
S B A Communications Cp Com 78388J106 8,789 214,690 SH   SOLE   0 0 214,690
Seadrill Ltd SHS G7945E105 3,221 94,960 SH   SOLE   0 0 94,960
Sigma Aldrich Corp COM 826552101 254 3,820 SH   SOLE   0 0 3,820
Sirius Satellite Radio COM 82967N108 41 25,400 SH   SOLE   0 0 25,400
Teck Cominco Ltd Cl B CL B 878742204 219 3,548 SH   SOLE   0 0 3,548
Teekay Lng Partners LPF Partnership UN Y8564M105 26,677 702,207 SH   SOLE   0 0 702,207
Teekay Offshore Partners Partnership Units Y8565J101 31,632 1,139,898 SH   SOLE   0 0 1,139,898
W P P Group Plc Adr Newf ADR 92933H101 376 6,230 SH   SOLE   0 0 6,230