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
OMB APPROVAL
OMB Number: 3235-0006
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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
1st Source Corporation COM 336901103 214 9,000 SH   SOLE   0 0 9,000
3M Company COM 88579y101 1,414 12,934 SH   SOLE   0 0 12,934
AER Energy Resources Inc COM 000944207 0 5,000,000 SH   SOLE   0 0 5,000,000
AT&T, Inc. COM 00206R102 6,492 183,397 SH   SOLE   0 0 183,397
AbbVie, Inc. COM 00287y109 313 7,573 SH   SOLE   0 0 7,573
Abbott Laboratories COM 002824100 264 7,573 SH   SOLE   0 0 7,573
Accenture Ltd COM g1151c101 14,348 199,385 SH   SOLE   0 0 199,385
AllState Corp. COM 020002101 470 9,770 SH   SOLE   0 0 9,770
Altria Group, Inc. COM 02209s103 2,109 60,265 SH   SOLE   0 0 60,265
American Express Co. COM 025816109 636 8,501 SH   SOLE   0 0 8,501
American Int'l Group COM 026874107 639 14,306 SH   SOLE   0 0 14,306
Amgen Inc. COM 031162100 1,403 14,219 SH   SOLE   0 0 14,219
Apache Corp. COM 037411105 9,418 112,341 SH   SOLE   0 0 112,341
Apple Computer COM 037833100 8,184 20,640 SH   SOLE   0 0 20,640
Automatic Data Processing COM 053015103 381 5,531 SH   SOLE   0 0 5,531
Banco LatinoAmericano COM P16994132 16,785 749,660 SH   SOLE   0 0 749,660
BankAmerica Corp. COM 060505104 153 11,866 SH   SOLE   0 0 11,866
Belo Corporation COM 080555105 377 27,000 SH   SOLE   0 0 27,000
Berkshire Hathaway 'A' COM 084670108 1,180 7 SH   SOLE   0 0 7
Berkshire Hathaway 'B' COM 084670702 224 2,000 SH   SOLE   0 0 2,000
Berkshire Hathaway 'B' COM 084670702 68,015 607,714 SH   SOLE   0 0 607,714
Berry Petroleum Cl A COM 085789105 6,179 146,000 SH   SOLE   0 0 146,000
Bristol Myers Squibb COM 110122108 1,667 37,294 SH   SOLE   0 0 37,294
Brookdale Sr Living Inc COM 112463104 4,647 175,749 SH   SOLE   0 0 175,749
Brookfield Pptys Partners COM G16249107 279 13,724 SH   SOLE   0 0 13,724
Campbell Soup Co. COM 134429109 5,084 113,500 SH   SOLE   0 0 113,500
Caterpillar Inc. COM 149123101 6,601 80,020 SH   SOLE   0 0 80,020
Chesapeake Energy COM 165167107 11,359 557,350 SH   SOLE   0 0 557,350
Chevron Corp. COM 166764100 2,025 17,110 SH   SOLE   0 0 17,110
Cisco Systems Inc. COM 17275R102 5,303 217,928 SH   SOLE   0 0 217,928
Coca Cola Co. COM 191216100 3,323 82,858 SH   SOLE   0 0 82,858
Comcast Corp. Special Class A COM 20030n200 867 21,855 SH   SOLE   0 0 21,855
Computer Sciences Corp. COM 205363104 1,152 26,327 SH   SOLE   0 0 26,327
ConocoPhillips COM 20825c104 336 5,556 SH   SOLE   0 0 5,556
Corrections Corp Amer COM 22025y407 28,395 838,346 SH   SOLE   0 0 838,346
Covidien Ltd COM g2554f113 335 5,325 SH   SOLE   0 0 5,325
DIRECTV COM 25490a309 1,537 24,942 SH   SOLE   0 0 24,942
Darden Restaurants, Inc. COM 237194105 252 5,000 SH   SOLE   0 0 5,000
Dentsply Intl Inc COM 249030107 1,616 39,462 SH   SOLE   0 0 39,462
Dominion Resources, Inc. COM 25746u109 1,326 23,332 SH   SOLE   0 0 23,332
Duke Energy Corp. COM 26441c204 4,504 66,726 SH   SOLE   0 0 66,726
E. I. Dupont de Nemours & Co. COM 263534109 237 4,513 SH   SOLE   0 0 4,513
Express Scripts, Inc. COM 30219g108 1,540 24,944 SH   SOLE   0 0 24,944
Exxon Mobil Corp. COM 30231G102 16,989 188,039 SH   SOLE   0 0 188,039
Fairfax Financial Hld COM 303901102 65,401 167,653 SH   SOLE   0 0 167,653
FedEx Corp. COM 31428X106 4,812 48,813 SH   SOLE   0 0 48,813
Forestar Group COM 346233109 512 25,500 SH   SOLE   0 0 25,500
Freeport McMoran Copper & Gold COM 35671D857 1,132 41,001 SH   SOLE   0 0 41,001
Gannett Co. Inc. COM 364730101 15,559 636,102 SH   SOLE   0 0 636,102
General Electric Co. COM 369604103 6,177 266,346 SH   SOLE   0 0 266,346
General Mills Inc. COM 370334104 1,824 37,583 SH   SOLE   0 0 37,583
Google Inc Class A COM 38259P508 755 858 SH   SOLE   0 0 858
HCA Holdings, Inc. COM 40412C101 35,557 986,061 SH   SOLE   0 0 986,061
HCC Ins Hldgs COM 404132102 6,347 147,235 SH   SOLE   0 0 147,235
HCP Inc COM 40414L109 6,454 142,035 SH   SOLE   0 0 142,035
Halliburton Inc. COM 406216101 7,366 176,568 SH   SOLE   0 0 176,568
HealthStream Inc. COM 42222n103 344 13,600 SH   SOLE   0 0 13,600
Hewlett Packard Co. COM 428236103 289 11,650 SH   SOLE   0 0 11,650
Home Depot Inc. COM 437076102 5,363 69,224 SH   SOLE   0 0 69,224
Honeywell International Inc. COM 438516106 864 10,890 SH   SOLE   0 0 10,890
Horsehead Holding COM 440694305 474 37,000 SH   SOLE   0 0 37,000
Intel Corp. COM 458140100 7,075 291,999 SH   SOLE   0 0 291,999
International Business Machine COM 459200101 10,686 55,914 SH   SOLE   0 0 55,914
J. P. Morgan Chase & Co. Inc. COM 46625h100 639 12,102 SH   SOLE   0 0 12,102
Johnson & Johnson COM 478160104 10,250 119,375 SH   SOLE   0 0 119,375
Kinder Morgan Energy LP COM 494550106 226 2,650 SH   SOLE   0 0 2,650
Kraft Foods Group, Inc. COM 50076q106 1,542 27,600 SH   SOLE   0 0 27,600
L-3 Communications COM 502424104 304 3,550 SH   SOLE   0 0 3,550
Leucadia Natl Corp COM 527288104 1,437 54,800 SH   SOLE   0 0 54,800
Level 3 Commun COM 52729N308 12,568 596,212 SH   SOLE   0 0 596,212
Liberty Media Corp. COM 530322106 314 2,480 SH   SOLE   0 0 2,480
Loews Corp. COM 540424108 18,890 425,444 SH   SOLE   0 0 425,444
Lowes Companies COM 548661107 4,594 112,334 SH   SOLE   0 0 112,334
McCormick COM 579780206 1,091 15,500 SH   SOLE   0 0 15,500
McDonalds Corp. COM 580135101 2,892 29,216 SH   SOLE   0 0 29,216
Mead Johnson Nutrition COM 582839106 426 5,381 SH   SOLE   0 0 5,381
Medtronic Inc. COM 585055106 3,444 66,910 SH   SOLE   0 0 66,910
Merck & Company Inc. COM 58933y105 4,673 100,612 SH   SOLE   0 0 100,612
Microsoft Corp. COM 594918104 4,997 144,640 SH   SOLE   0 0 144,640
Mondelez Int'l Inc COM 609207105 8,524 298,777 SH   SOLE   0 0 298,777
Morgan Stanley COM 617446448 232 9,500 SH   SOLE   0 0 9,500
National Health Invstrs COM 63633d104 15,144 252,997 SH   SOLE   0 0 252,997
National Healthcare COM 635906100 426 8,915 SH   SOLE   0 0 8,915
Newmont Mining Corp COM 651639106 881 29,411 SH   SOLE   0 0 29,411
News Corp. Ltd. Cl A COM 65248e104 874 26,820 SH   SOLE   0 0 26,820
News Corp. Ltd. Cl B COM 65248e203 3,208 97,735 SH   SOLE   0 0 97,735
Novartis AG COM 66987v109 523 7,390 SH   SOLE   0 0 7,390
Oracle COM 68389x105 2,238 72,877 SH   SOLE   0 0 72,877
Overstock COM 690370101 10,222 362,500 SH   SOLE   0 0 362,500
Pall Corp. COM 696429307 10,629 160,000 SH   SOLE   0 0 160,000
People's United Financial COM 712704105 17,408 1,168,350 SH   SOLE   0 0 1,168,350
PepsiCo Inc. COM 713448108 1,951 23,850 SH   SOLE   0 0 23,850
Pfizer Inc. COM 717081103 3,059 109,197 SH   SOLE   0 0 109,197
Philip Morris Intl COM 718172109 6,589 76,070 SH   SOLE   0 0 76,070
Pico Holdings COM 693366205 503 24,000 SH   SOLE   0 0 24,000
Proassurance Corp COM 74267C106 1,447 27,750 SH   SOLE   0 0 27,750
Procter & Gamble Co. COM 742718109 11,788 153,107 SH   SOLE   0 0 153,107
Regions Financial Corp. COM 7591ep100 613 64,324 SH   SOLE   0 0 64,324
Republic Services Inc. COM 760759100 5,460 160,864 SH   SOLE   0 0 160,864
Roche Holdings COM 771195104 2,619 42,176 SH   SOLE   0 0 42,176
Royal Dutch Shell Class B COM 780259107 1,625 24,515 SH   SOLE   0 0 24,515
SPDR Utilities Select COM 81369Y886 792 21,035 SH   SOLE   0 0 21,035
Schlumberger Ltd. COM 806857108 9,415 131,391 SH   SOLE   0 0 131,391
Scripps Networks Interactive, COM 811065101 2,050 30,700 SH   SOLE   0 0 30,700
Select Basic Materials Sector COM 81369y100 1,588 41,407 SH   SOLE   0 0 41,407
Sigma Aldrich Corp. COM 826552101 322 4,000 SH   SOLE   0 0 4,000
Starbucks Corp. COM 855244109 418 6,380 SH   SOLE   0 0 6,380
SunTrust Banks Inc. COM 867914103 836 26,471 SH   SOLE   0 0 26,471
Syntroleum COM 871630208 711 103,009 SH   SOLE   0 0 103,009
Sysco Corp. COM 871829107 7,220 211,372 SH   SOLE   0 0 211,372
TJX Companies, Inc. COM 872540109 751 15,000 SH   SOLE   0 0 15,000
Target Corporation COM 87612e106 1,585 23,015 SH   SOLE   0 0 23,015
Tejon Ranch Co. COM 879080109 313 11,000 SH   SOLE   0 0 11,000
Tidewater Inc. COM 886423102 7,896 138,600 SH   SOLE   0 0 138,600
Travelers Inc. COM 89417e109 1,136 14,219 SH   SOLE   0 0 14,219
US Bancorp COM 902973304 517 14,295 SH   SOLE   0 0 14,295
United Parcel Svc. Inc. CL B COM 911312106 5,198 60,110 SH   SOLE   0 0 60,110
United Technologies COM 913017109 7,772 83,620 SH   SOLE   0 0 83,620
Vanguard Emerging Markets ETF COM 922042858 1,509 38,891 SH   SOLE   0 0 38,891
Vanguard Large-Cap Exchanged T COM 922908637 400 5,445 SH   SOLE   0 0 5,445
Vanguard Mid-Cap Exchange Trad COM 922908629 221 2,325 SH   SOLE   0 0 2,325
Vanguard Small-Cap VIPERs COM 922908751 372 3,975 SH   SOLE   0 0 3,975
Verizon Communications COM 92343v104 3,075 61,089 SH   SOLE   0 0 61,089
Vodafone Group PLC ADS COM 92857w209 8,056 280,268 SH   SOLE   0 0 280,268
Vulcan Materials COM 929160109 668 13,800 SH   SOLE   0 0 13,800
Wal-Mart Stores Inc. COM 931142103 8,530 114,507 SH   SOLE   0 0 114,507
Walt Disney Co. COM 254687106 7,626 120,757 SH   SOLE   0 0 120,757
Washington Post Co. COM 939640108 1,167 2,413 SH   SOLE   0 0 2,413
Wells Fargo & Co. COM 949746101 1,779 43,104 SH   SOLE   0 0 43,104
Western Union COM 959802109 973 56,872 SH   SOLE   0 0 56,872
White Mountain Ins COM G9618E107 2,937 5,109 SH   SOLE   0 0 5,109
Yamana Gold COM 98462Y100 661 69,470 SH   SOLE   0 0 69,470
Zoetis, Inc. COM 98978v103 223 7,219 SH   SOLE   0 0 7,219
iShares FTSE China 25 Index Fu COM 464287184 1,872 57,550 SH   SOLE   0 0 57,550
iShares MSCI Emerging Markets COM 464287234 1,413 36,696 SH   SOLE   0 0 36,696
iShares MSCI Pacific Rim COM 464286665 1,689 39,246 SH   SOLE   0 0 39,246
iShares Russell 1000 Index ETF COM 464287622 390 4,335 SH   SOLE   0 0 4,335
iShares Russell Mid-Cap Index COM 464287499 208 1,605 SH   SOLE   0 0 1,605
iShares S&P 500 Core Index ETF COM 464287200 390 2,425 SH   SOLE   0 0 2,425
iShares S&P SmallCap 600 Index COM 464287804 3,052 33,790 SH   SOLE   0 0 33,790
Natl Healthcare Cv Prf PFD CV 635906209 495 33,125 SH   SOLE   0 0 33,125