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
1st Source Corporation COM 336901103 214 7,000 SH   SOLE   0 0 7,000
3M Company COM 88579y101 1,828 12,759 SH   SOLE   0 0 12,759
AER Energy Resources Inc COM 000944207 0 5,000,000 SH   SOLE   0 0 5,000,000
AT&T, Inc. COM 00206R102 6,495 183,679 SH   SOLE   0 0 183,679
AbbVie, Inc. COM 00287y109 532 9,418 SH   SOLE   0 0 9,418
Abbott Laboratories COM 002824100 380 9,298 SH   SOLE   0 0 9,298
Accenture Ltd COM g1151c101 16,619 205,576 SH   SOLE   0 0 205,576
AllState Corp. COM 020002101 428 7,297 SH   SOLE   0 0 7,297
Altria Group, Inc. COM 02209s103 2,496 59,515 SH   SOLE   0 0 59,515
Amazon.Com COM 023135106 3,598 11,077 SH   SOLE   0 0 11,077
American Airlines Grp COM 02376R102 258 6,000 SH   SOLE   0 0 6,000
American Express Co. COM 025816109 929 9,796 SH   SOLE   0 0 9,796
American Int'l Group COM 026874784 951 17,430 SH   SOLE   0 0 17,430
Amgen Inc. COM 031162100 2,538 21,442 SH   SOLE   0 0 21,442
Apache Corp. COM 037411105 12,371 122,949 SH   SOLE   0 0 122,949
Apple Computer COM 037833100 14,764 158,871 SH   SOLE   0 0 158,871
Automatic Data Processing COM 053015103 407 5,131 SH   SOLE   0 0 5,131
Banco LatinoAmericano COM P16994132 22,095 744,691 SH   SOLE   0 0 744,691
BankAmerica Corp. COM 060505104 226 14,715 SH   SOLE   0 0 14,715
Berkshire Hathaway 'A' COM 084670108 950 5 SH   SOLE   0 0 5
Berkshire Hathaway 'B' COM 084670702 76,657 605,697 SH   SOLE   0 0 605,697
Boardwalk Pipeline Prtnrs LP COM 096627104 8,186 442,500 SH   SOLE   0 0 442,500
Bristol Myers Squibb COM 110122108 1,994 41,095 SH   SOLE   0 0 41,095
Brookdale Sr Living Inc COM 112463104 6,744 202,274 SH   SOLE   0 0 202,274
Brookfield Pptys Part COM G16249107 355 17,000 SH   SOLE   0 0 17,000
CVS Caremark Corp. COM 126650100 227 3,015 SH   SOLE   0 0 3,015
Campbell Soup Co. COM 134429109 5,131 112,000 SH   SOLE   0 0 112,000
Caterpillar Inc. COM 149123101 8,383 77,139 SH   SOLE   0 0 77,139
Celgene Corp. COM 151020104 236 2,746 SH   SOLE   0 0 2,746
Chesapeake Energy COM 165167107 18,462 594,011 SH   SOLE   0 0 594,011
Chevron Corp. COM 166764100 2,544 19,488 SH   SOLE   0 0 19,488
Cisco Systems Inc. COM 17275R102 4,703 189,268 SH   SOLE   0 0 189,268
Coca Cola Co. COM 191216100 3,394 80,127 SH   SOLE   0 0 80,127
Colgate Palmolive Co. COM 194162103 230 3,378 SH   SOLE   0 0 3,378
Comcast Corp. - Class A COM 20030n101 216 4,032 SH   SOLE   0 0 4,032
Comcast Corp. Special Class A COM 20030n200 1,244 23,335 SH   SOLE   0 0 23,335
Computer Sciences Corp. COM 205363104 1,364 21,581 SH   SOLE   0 0 21,581
ConocoPhillips COM 20825c104 476 5,548 SH   SOLE   0 0 5,548
Corrections Corp Amer COM 22025y407 29,507 898,246 SH   SOLE   0 0 898,246
Covidien Ltd COM g2554f113 386 4,279 SH   SOLE   0 0 4,279
DIRECTV COM 25490a309 2,146 25,247 SH   SOLE   0 0 25,247
Darden Restaurants, Inc. COM 237194105 231 5,000 SH   SOLE   0 0 5,000
Dentsply Intl Inc COM 249030107 1,784 37,671 SH   SOLE   0 0 37,671
Diageo PLC COM 25243Q205 280 2,200 SH   SOLE   0 0 2,200
Dominion Resources, Inc. COM 25746u109 1,553 21,711 SH   SOLE   0 0 21,711
Duke Energy Corp. COM 26441c204 4,659 62,795 SH   SOLE   0 0 62,795
E. I. Dupont de Nemours & Co. COM 263534109 297 4,543 SH   SOLE   0 0 4,543
Express Scripts, Inc. COM 30219g108 1,529 22,060 SH   SOLE   0 0 22,060
Exxon Mobil Corp. COM 30231G102 17,190 170,735 SH   SOLE   0 0 170,735
Fairfax Financial Hld COM 303901102 78,449 166,029 SH   SOLE   0 0 166,029
FedEx Corp. COM 31428X106 6,701 44,266 SH   SOLE   0 0 44,266
First Horizon Nat'l COM 320517105 124 10,474 SH   SOLE   0 0 10,474
Forestar Group COM 346233109 1,012 53,000 SH   SOLE   0 0 53,000
Freeport McMoran, Inc. COM 35671D857 1,303 35,685 SH   SOLE   0 0 35,685
Gannett Co. Inc. COM 364730101 19,560 624,709 SH   SOLE   0 0 624,709
General Electric Co. COM 369604103 8,930 339,808 SH   SOLE   0 0 339,808
General Mills Inc. COM 370334104 1,620 30,840 SH   SOLE   0 0 30,840
Goldman Sachs Group COM 38141g104 491 2,930 SH   SOLE   0 0 2,930
Google Inc. Class A COM 38259P508 479 820 SH   SOLE   0 0 820
Google Inc. Class C COM 38259P706 534 928 SH   SOLE   0 0 928
Graham Holdings Co COM 384637104 1,675 2,333 SH   SOLE   0 0 2,333
HCA Holdings, Inc. COM 40412C101 38,826 688,657 SH   SOLE   0 0 688,657
HCC Ins Hldgs COM 404132102 7,135 145,787 SH   SOLE   0 0 145,787
HCP Inc COM 40414L109 6,540 158,042 SH   SOLE   0 0 158,042
Halliburton Inc. COM 406216101 11,560 162,791 SH   SOLE   0 0 162,791
HealthStream Inc. COM 42222n103 330 13,600 SH   SOLE   0 0 13,600
Hewlett Packard Co. COM 428236103 463 13,741 SH   SOLE   0 0 13,741
Home Depot Inc. COM 437076102 6,008 74,215 SH   SOLE   0 0 74,215
Honeywell Intl. COM 438516106 928 9,986 SH   SOLE   0 0 9,986
Horsehead Holding COM 440694305 676 37,000 SH   SOLE   0 0 37,000
Intel Corp. COM 458140100 9,217 298,287 SH   SOLE   0 0 298,287
International Business Machine COM 459200101 9,904 54,635 SH   SOLE   0 0 54,635
J. P. Morgan Chase & Co. Inc. COM 46625h100 703 12,198 SH   SOLE   0 0 12,198
Johnson & Johnson COM 478160104 12,064 115,316 SH   SOLE   0 0 115,316
Kraft Foods Group, Inc. COM 50076q106 1,448 24,159 SH   SOLE   0 0 24,159
L-3 Communications COM 502424104 417 3,450 SH   SOLE   0 0 3,450
Leucadia Natl Corp COM 527288104 1,411 53,800 SH   SOLE   0 0 53,800
Level 3 Commun COM 52729N308 24,810 565,013 SH   SOLE   0 0 565,013
Liberty Media Corp. COM 531229102 330 2,414 SH   SOLE   0 0 2,414
LinnCo, LLC COM 535782106 7,641 244,199 SH   SOLE   0 0 244,199
Loews Corp. COM 540424108 19,580 444,897 SH   SOLE   0 0 444,897
Lowes Companies COM 548661107 5,023 104,667 SH   SOLE   0 0 104,667
McCormick COM 579780206 1,110 15,500 SH   SOLE   0 0 15,500
McDonalds Corp. COM 580135101 3,265 32,406 SH   SOLE   0 0 32,406
Mead Johnson Nutrition COM 582839106 504 5,409 SH   SOLE   0 0 5,409
Medtronic Inc. COM 585055106 3,922 61,515 SH   SOLE   0 0 61,515
Merck & Company Inc. COM 58933y105 6,388 110,420 SH   SOLE   0 0 110,420
Microsoft Corp. COM 594918104 4,324 103,691 SH   SOLE   0 0 103,691
Mondelez Int'l Inc COM 609207105 11,048 293,755 SH   SOLE   0 0 293,755
Morgan Stanley COM 617446448 291 9,000 SH   SOLE   0 0 9,000
National Health Invstrs COM 63633d104 14,858 237,497 SH   SOLE   0 0 237,497
National Healthcare COM 635906100 502 8,915 SH   SOLE   0 0 8,915
Newmont Mining Corp COM 651639106 1,631 64,102 SH   SOLE   0 0 64,102
News Corp. Ltd. Cl B COM 65249B208 253 14,508 SH   SOLE   0 0 14,508
Novartis AG COM 66987v109 713 7,881 SH   SOLE   0 0 7,881
Oracle COM 68389x105 2,869 70,797 SH   SOLE   0 0 70,797
Overstock COM 690370101 5,646 358,000 SH   SOLE   0 0 358,000
Pall Corp. COM 696429307 13,586 159,111 SH   SOLE   0 0 159,111
People's United Financial COM 712704105 16,886 1,113,135 SH   SOLE   0 0 1,113,135
PepsiCo Inc. COM 713448108 2,428 27,175 SH   SOLE   0 0 27,175
Pfizer Inc. COM 717081103 3,100 104,455 SH   SOLE   0 0 104,455
Philip Morris Intl COM 718172109 6,788 80,514 SH   SOLE   0 0 80,514
Pico Holdings COM 693366205 618 26,000 SH   SOLE   0 0 26,000
Pinnacle Financial Partners COM 72346q104 250 6,325 SH   SOLE   0 0 6,325
Proassurance Corp COM 74267C106 1,232 27,750 SH   SOLE   0 0 27,750
Procter & Gamble Co. COM 742718109 11,557 147,056 SH   SOLE   0 0 147,056
Regions Financial Corp. COM 7591ep100 809 76,160 SH   SOLE   0 0 76,160
Republic Services Inc. COM 760759100 5,374 141,533 SH   SOLE   0 0 141,533
Roche Holdings COM 771195104 3,059 82,052 SH   SOLE   0 0 82,052
Royal Dutch Shell Class B COM 780259107 2,794 32,110 SH   SOLE   0 0 32,110
Russell 2000 Index Fund COM 464287655 238 2,000 SH   SOLE   0 0 2,000
SPDR Gold Trust COM 78463V107 728 5,688 SH   SOLE   0 0 5,688
SPDR Utilities Select COM 81369Y886 2,341 52,902 SH   SOLE   0 0 52,902
Schlumberger Ltd. COM 806857108 14,974 126,956 SH   SOLE   0 0 126,956
Scripps Networks Interactive, COM 811065101 2,491 30,700 SH   SOLE   0 0 30,700
Select Basic Materials Sector COM 81369y100 1,837 37,016 SH   SOLE   0 0 37,016
Sigma Aldrich Corp. COM 826552101 406 4,000 SH   SOLE   0 0 4,000
Starbucks Corp. COM 855244109 533 6,883 SH   SOLE   0 0 6,883
SunTrust Banks Inc. COM 867914103 1,007 25,144 SH   SOLE   0 0 25,144
Syntroleum COM 871630208 229 68,247 SH   SOLE   0 0 68,247
Sysco Corp. COM 871829107 7,008 187,136 SH   SOLE   0 0 187,136
TJX Companies, Inc. COM 872540109 710 13,350 SH   SOLE   0 0 13,350
Tejon Ranch Co. COM 879080109 354 11,000 SH   SOLE   0 0 11,000
Tidewater Inc. COM 886423102 9,811 174,725 SH   SOLE   0 0 174,725
Transocean, Ltd COM H8817H100 323 7,163 SH   SOLE   0 0 7,163
Travelers Inc. COM 89417e109 1,060 11,269 SH   SOLE   0 0 11,269
Truxton Corp. COM 89845y107 325 17,100 SH   SOLE   0 0 17,100
Twenty-First Cent Fox Inc. Cl COM 90130a101 2,160 61,454 SH   SOLE   0 0 61,454
Twenty-First Cent Fox Inc. Cl COM 90130a200 3,470 101,367 SH   SOLE   0 0 101,367
US Bancorp COM 902973304 603 13,925 SH   SOLE   0 0 13,925
United Parcel Svc. Cl B COM 911312106 5,946 57,923 SH   SOLE   0 0 57,923
United Technologies COM 913017109 9,753 84,481 SH   SOLE   0 0 84,481
Vanguard Emerging Markets ETF COM 922042858 2,027 46,986 SH   SOLE   0 0 46,986
Vanguard Large-Cap Exchanged T COM 922908637 521 5,785 SH   SOLE   0 0 5,785
Vanguard Mid-Cap Exchange Trad COM 922908629 276 2,325 SH   SOLE   0 0 2,325
Vanguard Small-Cap VIPERs COM 922908751 436 3,725 SH   SOLE   0 0 3,725
Verizon Comm. COM 92343v104 7,027 143,619 SH   SOLE   0 0 143,619
Vodafone Group PLC ADS COM 92857w308 4,286 128,356 SH   SOLE   0 0 128,356
Vulcan Materials COM 929160109 822 12,900 SH   SOLE   0 0 12,900
Wal-Mart Stores Inc. COM 931142103 8,304 110,611 SH   SOLE   0 0 110,611
Walt Disney Co. COM 254687106 9,438 110,082 SH   SOLE   0 0 110,082
Wells Fargo & Co. COM 949746101 3,256 61,943 SH   SOLE   0 0 61,943
Western Union COM 959802109 777 44,782 SH   SOLE   0 0 44,782
White Mountain Ins COM G9618E107 2,987 4,909 SH   SOLE   0 0 4,909
Yamana Gold COM 98462Y100 653 79,407 SH   SOLE   0 0 79,407
Yum! Brands, Inc. COM 988498101 205 2,528 SH   SOLE   0 0 2,528
Zimmer Holdings, Inc. COM 98956P102 391 3,765 SH   SOLE   0 0 3,765
Zoetis, Inc. COM 98978v103 1,012 31,369 SH   SOLE   0 0 31,369
iShares DJ Select Dividend Ind COM 464287168 249 3,230 SH   SOLE   0 0 3,230
iShares FTSE China 25 Index Fu COM 464287184 2,390 64,525 SH   SOLE   0 0 64,525
iShares MSCI EAFE Index Fund COM 464287465 260 3,796 SH   SOLE   0 0 3,796
iShares MSCI Emerging Markets COM 464287234 1,798 41,596 SH   SOLE   0 0 41,596
iShares MSCI Pacific Rim COM 464286665 1,864 37,846 SH   SOLE   0 0 37,846
iShares Russell 1000 Index ETF COM 464287622 437 3,970 SH   SOLE   0 0 3,970
iShares Russell Mid-Cap Index COM 464287499 261 1,605 SH   SOLE   0 0 1,605
iShares S&P 500 Core Index ETF COM 464287200 389 1,975 SH   SOLE   0 0 1,975
iShares S&P SmallCap 600 Index COM 464287804 3,311 29,540 SH   SOLE   0 0 29,540
Natl Healthcare Cv Prf PFD CV 635906209 427 28,533 SH   SOLE   0 0 28,533