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That's what the Orange slices, and pain killers are for .... administered by a pretty nurse, and promises, promises. Lots of bruises and broken bones that need tender loving care SD

PCC is great example of suboptimal execution. I think in those cases , Abel can make a huge difference. Berkshire paid a full price for PCC but tht want the biggest problem 1) They bought a Cyclical high in the business (turbines) 2) Management that they put in place wasn’t good. The scams and Factory fires that @gfp reported are evidence of this. They failed to pivot the business to stronger market like aerospace components. its seems like Buffett lost interested this and the business remained undermanaged. I agree PCC should be worth a pretty penny now provided they can take advantage of the buoyant market and increase the earnings power.

Reasonably fair assessment, from Fortune. https://ca.news.yahoo.com/trump-may-choose-between-endless-080700006.html "The options are to escalate or cut a deal. And I think the [Trump] administration is likely to do the first, see it fail, and end up with the second," Brew said. In the meantime, "We're going to see more fireworks in the next two or three weeks before we see any kind of progress towards de-escalation or accommodation." You might also want to keep in mind that o/g producers will be reporting Q2-26 numbers in about 4 weeks; Q2 commodity prices were high, FCF numbers will be high, and many will also be reporting significant repurchase of outstanding shares. Higher share prices, likely to stay higher for a while. The Q4 mystery is how the US deals with midterm results/disruption ..... Orange Boy loses the senate, but refuses to accept the outcome ... claiming widespread fraud. Hedging via long oil/gas, and a straddle on his sudden demise, makes a great deal of pragmatic sense. SD

yes, I realized that connection after I posted. I am surprised this relationship was never previously mentioned in a report or conference call. Digitide's MFX unit has been the technology backbone of Fairfax P&C carriers since 2002.

thanks. I must not be converting to US dollars correctly.

My son is in his mid 20s. I am not sure if an 11 years would appreciate it.

Oh man I have PTSD from my years of arguing with the Social Security administration trying to get my adopted kid a social security number at 19 years old. I had already secured a US passport from the state department but those idiots at Social Security refused to accept that a US passport was de-facto proof of US citizenship. Finally they just got tired of me showing up everyday to the office and taking all the supervisor's time and gave the kid the f'ing SSN... Don't these new "Real IDs" require a birth certificate? I forget what is required but remember it being a pain.

You are off by a factor of 10. Rs 10,000 crore is just over a billion USD.

Come on already - Americans, born in the United States, need a birth certificate to get a social security card. It's a snap. This is just flat out wrong - all Americans have easy access to birth certificates. https://www.ssa.gov/ssnumber/ss5doc.htm Let's try and stick to the facts.

How old? My kid is 11 and wasn't sure how bad R rating is.

I think Fairfax India will end up buying $415 million of equity in IIFL Capital but only $211m comes from new stock issuance, the rest comes from the public at the same price through the mandatory tender offer and whatever is not tendered but necessary to get them to 51% comes out of the promoter's holdings (Nirmal Jain and one other guy)

Thanks for posting that site, I hadn't seen it before either. Digitide came out of Quess so this is all in the family.

I was doing some work on Precision Castparts after looking at the recent Doncasters IPO and the booming share price of PCC-peer Howmet. It's interesting that Buffett overpaid for PCC in 2016, paying around 14x pretax earnings for earning power that just today is finally increasing past its peak. They wrote down almost $10B of goodwill, got scammed on a German acquisition that was outright fraud, and had a recent major fire that destroyed an aircraft fastener plant. For goodwill impairment tests, they value PCC at around $34 Billion currently - still below the $37 Billion Berkshire paid a decade ago. But if you apply the valuations Howmet trades at in today's buoyant market for all things turbine-related and adjust for the acquisition-related D&A, an independent PCC that traded on the NYSE would trade around $115 Billion. PCC inside Berkshire is essentially debt-free but I doubt a public PCC would find that to be the optimal structure. PCC also basically stopped buying bolt-on companies after their German pipe fitting scam (they won $700m in arbitration after they discovered the sellers had committed outright fraud). This year they bought a tiny company in the UK that does the wax patterns and ceramic core assemblies that are upstream to their castings but it was only 22m GBP in revenue / 6m GBP ebitda. They did shell out $500m on that titanium melt facility in West Virginia in partnership with BHE Renewables, which created a 100% solar + battery microgrid for the project. Anyway - it was just interesting to see that, much like the railroad, the public comps for PCC suggest it would not be available at the multiples Berkshire paid and since the $10 Billion impairment can never be "un-done" its another example of how even assets he "over-paid" for are meaningfully under-marked in book value vs. "fair value in today's environment." Also - don't buy Doncasters stock! Yikes that one is very richly valued and has an awful lot of stock coming out of lock-up at the end of September. Howmet is also very fully valued but they seem very well run with margins above PCC.

While I am familiar with Fairfax Digital Services I came across this site for Fairfax GCC that I never heard of before. The site mentions that they have worked with the Fairfax subs for many years. Is this accurate? https://fairfaxgcc.com

So this is where this might go in terms of AI regulation:

And yes, it is hard for a non-US citizen to prove US citizenship - that is precisely the point. When foreigners apply for and become US citizens they receive a Certificate of Naturalization. Otherwise, everyone born in the US receives a birth certificate. Every State has a Department of Vital Statistics from which a certified copy of one's birth certificate can easily be obtained.

Within the last week or so, I've added to : DANSKE.CPH - Danske Bank A/S [CofB&F topic], SJF.CPH - SJF Bank A/S [ CofB&F topic], & JYSK.CPH - Jyske Bank A/S.

Nonsense. if you can't prove your identity you shouldn't be allowed to vote. There are a myriad of ways to prove one's identity - voter ID card, birth certificate, social security card, passport, driver's license, etc... This would not even be a material issue but for the open border policy we were stuck with.

I posted this before, but it’s quite hard in the US to get an ID that proves you are US citizen. That‘s why many Americans don’t have a passport. If you can’t produce your birth certificate, it’s quite a problem. A driving license which most people have doesn’t prove anything. It has nothing to do with being an US citizen or US person for that matter. A reform of the voting system would need to start with a program to provide an ID card to anyone.

@rajpgokul Thanks for sharing this. You had mentioned that IIFL Finance would be raising $1.3 US through issuing of shares. When I reviewed the BSE notice, I only see reference to 10,000 Crore being raised through new shares. I believe this is the equivalent of $100M US unless I am not calculating it correctly. Could you confirm where you saw the $1.3B US figure or are you including the additional $1B US in medium term notes. https://www.bseindia.com/xml-data/corpfiling/AttachLive/817e6eb4-7e92-426a-9490-e60f741fe609.pdf

This thread is entirely void of logic. Cubs has demonstrated repeatedly that both parties have questioned and challenged election results on various occasions. You all don't want to address the issue because your arguments make no sense and you play to your own narratives.

I personally think about this the same way as you do, @Sweet, I personally feel blessed to live in one of the Nordic countries [Denmark] today. It for sure hasen't always been so. I remember from time in my late 20's and early 30's working really hard, and basicaly getting nowhere, primarily because of income taxes, high interest rates and inflation. It was really depressing back then to think about. I still think it's important to note, that living conditions in different parts of Europe by now vary vildly within quite large margins, also depending on personal setup and situation, country by country. - - - o 0 o - - - Like @Loss Horizon I fail to see - at large - the connection between the actual content of this topic and its topic title. Everyone here on CofB&F must be aware of the successful 'European' [meaning headquartered in Europe] large cap and mid cap companies are multinationals, especially if we talk perhaps not so large countries [Denmark is a striking example here, btw.] I know this topic has caused some frustration at Sanjeev [ @Parsad ], too. He has posted it. Perhaps the solution is as simple as just to rename this topic to "European Politics'? [<- Simply because that is what it is!]. I mean then there would a barbell balance i.e. between 'POTUS bashing Ørsted, hindering it to move forward with what has already been US approved' and '[US] Big tech can't get its will with the EU'.

I don’t think all evidence points against it. Living in Europe, I think most are still ok with the status quo. But there is growing discontent, with over regulation and too much friggin immigration. I’m probably not your typical European, I’m super pro-America (married to one, kids are American citizens), dead against the over regulation, angered by the lax border control. Europe is a bit of a joke but I feel the tide is turning. I don’t care if the politicians remain the same, I want the politics to change, I couldn’t give a crap who ushers that change in.

Seeing The Odyssey today with my son. Also, Fairfax continues to buy Indian Bonds. https://m.economictimes.com/markets/bonds/fairfax-picks-up-half-of-3-year-government-bonds-at-auction/amp_articleshow/132473875.cms

Yeh but the changes being sought, such as voter ID, much less mail in voting, it’s not a big issue to implement really. Let’s agree to disagree. There was no real talk of fraud in UK elections, but voter id was implemented to bolster public confidence in results and to prevent voter impersonation. No fuss about it because it wasn’t a partisan issue, and it just made sense.