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Hubris will eventually be this guys downfall. Either that or a stroke. https://news.sky.com/story/donald-trump-ordered-to-reveal-financial-records-in-10bn-bbc-lawsuit-13566062

The million $ question is why is it so hard for (apparently sophisticated) investors to understand and value Fairfax? Some analysts appear to have the same challenge.

HaHa! - Better entertaiment than the football played!

My short answer is let's revisit this in 20 years. Trajectories of these countries is totally different IMO.

You're joking, right?

Having to do 1 post/video a week means DD is going to be shallow...especially if you are not discussing with experts (on the subject/company)...true for every substack or podcast out there. Will Thorndike does the 50x podcast which is of the highest quality possible: 2 companies researched in 5 years, maybe 10 episodes?

The more I think about what I was listening to, it's both frustrating and annoying. Poor research and poor curiosity and real lack of knowledge on the pod's part, especially with their outward facade of expertise or due diligence.

The digression on Hamblin Watsa felt like some wasted time to me. Would have been helpful if they managed a lot of outside money and also charged massive fees to Fairfax, but as a wholly owned subsidiary these days, I don’t think there’s an issue. Puzzled why they chose to mention it as a potential candidate to add to their portfolio if it dropped to $1500 or so, while they had no problem adding Berkshire to their portfolio. The digression about how amazing a value Metlen is, was wasted. They recognized the PE seemed too low, but apparently didn’t take the step of comparing market value to recent 12 months earnings which would have shown them that the reported PE was off by a factor of 100. They could have discussed Eurobank or Poseidon, both of which are more material in terms of holding size. I think they mentioned uncertainty about potential cat losses, which indicates they may not fully understand the extent to which underwriting has improved, and prudent risk management driven deeply into the culture. They just aren’t seeing what many of us here are, which is the value of a long track record of compounding value, and the likelihood of continuing more of the same for the next decade.

I noticed a few points that didn’t sound right. Since I listened quickly, I might have missed something. It mentioned that ROE was higher for mkl, and metlen has a PE of 0.2, which he then doubled down on, claiming he checked it twice. There was also a discussion about catastrophes wiping out the business or similar events being a huge negative. It felt like it was AI generated to me.

Fairfax, Otis, BRO

It’s nice they got the ticker wrong and made the same mistake @djokovic1pointed out in their intrinsic value analysis. Granted it's not super in depth. How bad (or good) do you think the pod is? I think generally, for most of the pod about Fairfax, this forum really explains or amplifies a lot. I wonder how much or little other listeners get without the discussions here.

Car loans are right up there too...it's certainly predatory

Hope for all of us that will be laid off as a result of AI.

Shorted MU Here comes da squeeze

I don't know if I deserve credit for this or not. But far be it from me to fail to take credit where credit taking is due. I ran into the head of legal, (who I used to work with ) at a conference and mentioned that it's silly that some huge OTC companies like Constellation or Kraken Robotics are not available on Robinhood, when much smaller Nasdaq and NYSE ones are. And that I use my other brokerages because of that, and I probably wasn't alone. He asked which ones I wasn't able to trade so I wrote down a few of them on a post-it note (Kraken, Constellation, Topicus, OTCM etc) and they are all on this list

This article is based on a major assumption that compute gets cheaper and easier to obtain. Not sure why he doesn't go into this assumption due to obvious compute constraints i.e. long time to build data centers etc.

https://www.financialexpress.com/business/airlines-aviation-aai-may-sell-delhi-mumbai-airport-stakes-in-fy27-4298548/

On May 26, Utz announced this: On May 26, 2026, Mitchell Arends, the EVP, Chief Integrated Supply Chain Officer and principal operating officer of Utz Brands, Inc. tendered his resignation to assume a role at another publicly traded company. Following the resignation, Howard Friedman, the Company’s Chief Executive Officer, will assume the additional role of principal operating officer of the Company. Additionally, Mr. Friedman and other members of the Company’s Executive Leadership Team will take responsibility for the Company’s Integrated Supply Chain functions. About two months later, Utz was acquired for a 100% premium. I wonder if senior exec resigning and not being replaced is a good predictor of an upcoming acquisition.

I agree they are poor victims of society and world cruelty...they should be safeguarded more... Thx God US has chosen a president that know how to treat women and will fix it...

I absolutely agree with this, however you missed one very important, but, to a certain extent controllable expense. Interest payments. Many, many years ago, being a cheap bugger, I made it a personal policy to do everything in my power to avoid incurring interest charges. Bought my vehicles (often clunkers) according to my cash on hand rather than to my credit access limits and paid off my mortgage as soon as possible. I use my Visa for nearly all expenses, but pay the full balance every month and never pay interest on it - free credit. As one who worked in various aspects of the credit industry for many years, I was appalled at how many people paid so much of their paychecks on interest. And in many cases these were well educated people with good paying jobs who seemed oblivious to the amount of money they spent in interest, not just on their mortgage and car loans, but primarily on their credit cards at sky high interest rates. More than once I had people tell me they were financially in great shape, all their credit cards were paid up to date. Well now yes, they were paid up to date, but they were making the minimum payment every month and these poor people thought that they were being responsible while in reality they were simply on the road to bankruptcy. Here, credit card statements are required to contain a line stating how long it will take to pay off your balance if you make the minimum monthly payment. My last Visa statement was for $3,800 and contained the statement "If you make the minimum payment it will take 31 years and 11 months to pay out your account.' Thirty two years to pay out $3,800! Given my advanced age, they are quite optimistic. 31 years and 11 months

NDLS Noodles & Company announced a review of strategic alternatives in September 2025; entered into retention bonus agreements in November 2025 that incentivize management to conclude a transaction that results in a change of control (e.g. take-private). They will report financials on Friday, July 24, and there could be an update regarding the strategic alternatives.

Imagine that. Get stuck with one or two kids and let life beat down your motivation. I'm known to take pot shots at American society but this thread was a troll from the beginning.

@Viking IMO Prem and Buffett are wired the same as most private business owners. It is many large, public corporate CEOs and BODs who are wired differently, and, unfortunately they have an outsized, and often negative influence on shareholders. If there is one lesson I have learned in many decades investing in stocks is that you don't need to be a great stock picker or analyst to do very well investing in public equities. Responsible, vested management whose focus is on long term success is one simple key to a game many make harder than necessary.

I'm skeptical of these types of claims and thought I would share a link to a cursory Claude Fable 5 breakdown of his claims in case anyone else has interest without burning any tokens themselves -> https://claude.ai/share/4cc0d479-e38b-4019-b043-79805ffa2b14

The reality though, is that the physical is part of the game ... whether we want to acknowledge it or not. The obvious solution is similar to the football Yellow and Red Card system. Yellow Card to a player if more than X minutes of penalties a game, thrown out of the game on the 2nd Yellow Card. Cumulative Yellow Card time per season more than Y minutes, an instant Red Card and thrown out for the rest of the season, including the Stanley Cup. Medical science informing what the Y limit maximum is; NHL sets the Red Card limit at maybe 60% of the limit, decides on how many Yellow Cards can be accumulated over a season; players encouraged to continue donating their brains to medical science as time goes on. SD