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
Estimated average burden
hours per response: 23.8
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
AAR CORP COM 000361105 40,000 879,200 SH   SOLE   879,200 0 0
ACTIVISION BLIZZARD INC COM 00507V109 140,000 1,996,400 SH   SOLE   1,996,400 0 0
AMAZON COM INC COM 023135106 4,500 1,249,605 SH   SOLE   1,249,605 0 0
APPLE INC COM 037833100 8,150 3,228,052 SH   SOLE   3,228,052 0 0
ARCOS DORADOS HOLDINGS INC SHS CLASS -A - G0457F107 40,000 467,200 SH   SOLE   467,200 0 0
AT&T INC COM 00206R102 50,000 1,770,000 SH   SOLE   1,770,000 0 0
BANK OF AMERICA CORPORATION COM 060505104 110,000 1,414,600 SH   SOLE   1,414,600 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 10 1,686,000 SH   SOLE   1,686,000 0 0
BOULDER BRANDS INC COM 101405108 10,000 120,500 SH   SOLE   120,500 0 0
CARROLS RESTAURANT GROUP INC COM 14574X104 170,864 1,103,781 SH   SOLE   1,103,781 0 0
CEDAR FAIR L P DEPOSITRY UNIT 150185106 24,834 1,028,128 SH   SOLE   1,028,128 0 0
CHATHAM LODGING TR COM 16208T102 35,000 601,300 SH   SOLE   601,300 0 0
DEVON ENERGY CORP NEW COM 25179M103 5,000 259,400 SH   SOLE   259,400 0 0
DEX MEDIA INC NEW COM 25213A107 32,500 571,025 SH   SOLE   571,025 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 100,000 1,547,000 SH   SOLE   1,547,000 0 0
FRONTIER COMMUNICATIONS CORP COM 35906A108 362,500 1,468,125 SH   SOLE   1,468,125 0 0
GOOGLE INC CL A 38259P508 2,800 2,465,036 SH   SOLE   2,465,036 0 0
ISHARES GOLD TRUST ISHARES 464285105 100,000 1,199,000 SH   SOLE   1,199,000 0 0
ISHARES INC MSCI AUSTRALIA 464286103 10,000 225,800 SH   SOLE   225,800 0 0
ISHARES INC MSCI SINGAPORE 464286673 25,250 322,948 SH   SOLE   322,948 0 0
ISHARES INC MSCI TAIWAN 464286731 15,000 199,500 SH   SOLE   199,500 0 0
ISHARES INC MSCI STH KOR CAP 464286772 5,000 266,000 SH   SOLE   266,000 0 0
ISHARES INC MSCI MALAYSIA 464286830 20,000 311,000 SH   SOLE   311,000 0 0
ISHARES INC MSCI JAPAN 464286848 50,000 561,000 SH   SOLE   561,000 0 0
ISHARES INC MSCI HONG KONG 464286871 20,350 372,609 SH   SOLE   372,609 0 0
ISHARES TR FTSE CHINA25 IDX 464287184 10,000 325,200 SH   SOLE   325,200 0 0
ISHARES TR DJ HOME CONSTN 464288752 75,000 1,678,500 SH   SOLE   1,678,500 0 0
JOHNSON & JOHNSON COM 478160104 10,600 910,116 SH   SOLE   910,116 0 0
MUELLER WTR PRODS INC COM SER A 624758108 250,000 1,727,500 SH   SOLE   1,727,500 0 0
PETROCHINA CO LTD SPONSORED ADR 71646E100 5,000 553,350 SH   SOLE   553,350 0 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 40,000 2,232,400 SH   SOLE   2,232,400 0 0
POWERSHS DB MULTI SECT COMM PS DB AGRICUL FD 73936B408 110,000 2,740,100 SH   SOLE   2,740,100 0 0
PROCTER & GAMBLE CO COM 742718109 10,000 769,900 SH   SOLE   769,900 0 0
PROSHARES TR PSHS ULTSH 20YRS 74347B201 75,000 5,432,250 SH   SOLE   5,432,250 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 40,886 2,608,527 SH   SOLE   2,608,527 0 0
SCHLUMBERGER LTD COM 806857108 40,000 2,866,400 SH   SOLE   2,866,400 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 50,000 2,380,500 SH   SOLE   2,380,500 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 91,030 10,846,225 SH   SOLE   10,846,225 0 0
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 75,000 2,206,500 SH   SOLE   2,206,500 0 0
STRATEGIC HOTELS & RESORTS I COM 86272T106 20,000 177,200 SH   SOLE   177,200 0 0
TEEKAY LNG PARTNERS L P PRTNRSP UNITS Y8564M105 35,000 1,529,500 SH   SOLE   1,529,500 0 0
TOOTSIE ROLL INDS INC COM 890516107 16,424 521,955 SH   SOLE   521,955 0 0
TOTAL S A SPONSORED ADR 89151E109 30,000 1,461,000 SH   SOLE   1,461,000 0 0
UNILEVER PLC SPON ADR NEW 904767704 20,000 786,200 SH   SOLE   786,200 0 0
VIVUS INC COM 928551100 30,000 377,400 SH   SOLE   377,400 0 0
VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 70,000 2,011,800 SH   SOLE   2,011,800 0 0
W P CAREY INC COM 92936U109 87,377 5,781,736 SH   SOLE   5,781,736 0 0
WEATHERFORD INTERNATIONAL LT REG SHS H27013103 227,500 3,116,750 SH   SOLE   3,116,750 0 0
WHITEWAVE FOODS CO COM CL A 966244105 10,000 162,500 SH   SOLE   162,500 0 0
WINDSTREAM CORP COM 97381W104 80,000 616,800 SH   SOLE   616,800 0 0