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Jesus fuckin Christ lol society is certainly lost when the answer to everything is “let’s ask AI”….

Translation: when Americans are more "polarized" (meaning they believe stuff we disagree with), America is less "democratic". Also the Economist: we ranked America low because of low political participation. The actual data says otherwise: https://ballotpedia.org/Election_results,_2024:_Analysis_of_voter_turnout_in_the_2024_general_election Now tell me how many European voters participate in the election of the European Commission/President....oh wait, it's zero. So tell me more about your useless rankings...

In Paris everything is getting locked and boarded for todays game. They know no matter who wins there will be riots

I think the buybacks also show that @dartmonkey’s research was correct. They can buy above the daily limit as long as they buy the incremental amount on an ATS and the 2% rule doesn’t apply.

LOL, an article that cites the "V-Dem Institute" again. Clueless.. Did these people read the V-Dem Institute rankings though? I heard Brussels-tards are the most democratic beings in the universe (according to them).

Wikipedia: Democratic backsliding in the United States https://en.wikipedia.org/wiki/Democratic_backsliding_in_the_United_States

Yes that is crazy. And yes I love to see it.

I am not sure about USD vs CAD conversion, still crazy to me.

"A European institute ranked Europe as more democratic than the USA". LMAO "we investigated ourselves and found we've done nothing wrong". Just don't compare the German Chancellor to Pinocchio! Just don't "insult" the wrong groups! Europeans really love to criticize and critique America at the most minutiae levels, but when their own flaws are pointed out, it's deflect deflect and deflect. Europe's GDP stagnating ? No worries, we are at the top of the list of happiest countries (a list we created)! The point is that the EU is not a democratic organization. Its president is not selected by the people. It is a non-democratic layer of government that has harmed the continent greatly and continues to do so.

https://ceo.ca/content/sedi/issuers/2458 FFH did a 1B tender offer in 2022, financed by selling 10% of Odyssey. Another 1B bought back in 1 day in 2026 under their NCIB. Crazy.

I think don’t think this is true Charlie. Case in point above law by the EU.

Bought a couple hundred shares of JOE around $60, some CPRT at $28 and BLDR under $75. All with some 60-65% gains on my shorter term CPNG calls as it looks like it will just bump against resistance again and go nowhere. Should be $25+ and give me 300% gains but of course nothing is ever too easy.

Fairfax is all about keeping a 360 optionality in their capital allocation toolkit. I'm convinced it's part of their investment strategy. I've not seen anyone use that as intentionally as them. Fortunately for us, all other things being equal, that looks likely to be a $4-5B annual stream they will be allocating. This one(share buybacks) however is not one where they give optionality to themselves, but rather it's decided by Mr Market. So as many have said if you're a long term holder this is good news for you. The other options ie private equity deals, funding subsidiary growth, public stocks, bonds, sub. buybacks, leverage ratios, dividend payouts, acquisitions are more in their control. I hope and would think they measure each decision in terms of overall portfolio risk and investment return hurdle. IMHO stock buyback being available at the current prices is a good anchor for looking at every capital allocation decision they make with this stream of $$. They quite literally won't understand any external investment better. Over the very long term, let's say 10yrs or so, for a compounder in the double digit range. A one off multiple expansion measures in BV( let's say a 1.25BV ---->1.75BV or 40%) for example will not mean a whole lot. In the short term <5yrs it absolutely does.

It's kind of funny how badly WB has misjudged the people who were supposed to secure his legacy. He no longer speaks with Gates, Sokol, Todd Combs, and Schroeder, although Schroeder did nothing wrong and Combs might get a Christmas card. It was probably for the best that he was never involved in running the business.

Ai´s answer to the question "Is Europe or the U.S. more democratic?" Major democratic assessment organizations generally rate Europe as more democratic than the U.S. In the V-Dem Institute Democracy Report at the University of Gothenburg, Western Europe scores significantly higher, with the U.S. having lost its long-term status as a "liberal democracy" due to rapid declines in civil liberties and checks on executive power. Similarly, the Economist Intelligence Unit consistently ranks European nations—particularly Nordic countries like Norway—at the very top of its global rankings, classifying them as "full democracies". In contrast, the U.S. is categorized as a "flawed democracy". This disparity is driven by America's polarized political culture, lower levels of political participation, and struggles with government functionality.

Meta datacenter investment is great news for Alberta; most of these are typically in Quebec because of the lower power/labor costs. Q1 FDI into Canada is highest in 18 years at $15.5B USD. Canada ranks 2nd behind the US in FDI Confidence Index. https://www.kearney.com/service/global-business-policy-council/foreign-direct-investment-confidence-index

Grab the opportunity by the balls, and squeeze. Just keep in mind that it's a limited time engagement; probably a solid two years ... after that, 'life' will primarily be doing the deciding! Couple of takeaways, from London (UK)/Calgary ... Push the acceptable, always seek out the colourful 5%. There is a lot more tolerance when you're young, that 5% were 'you' some years ago, and their life experiences are always 'illuminating'. Provocatively call bluffs, call aggressively, and call early. The polite "I'm not from these here parts, you folks all sure talk 'funny'"" . For the best experience; strategically call the kettle black, right off the bat. Demonstrate a cocky willingness to learn, and cheerfully accept the knocks along the way. The "how hard can it possible be to ride a horse, and rope/tie up a calf in X seconds" ... from someone who has never ridden a horse, or roped a calf . You're expected to f*** ** ... everything is up from there! You are the master, not the environment. Thoroughly enjoy, go balls to the wall, but always have a plan, stick with it, and call the shots; the environment will change you, it is toxic, and you want to be able to eventually walk away with no regrets. London/New York is not the centre of the world. That famous 'attitude' may work well in a London/New York, but you're the arsehole everywhere else. Nobody likes an arsehole. Enjoy. SD

Yea this is disgraceful and unjustifiable. At least the top floors have AC tho

yea, but then you have 1-2 people to hang out with whenever you want. it's like an extension of one of the best part of college. living with the bros....to each his own...potentially makes for better socializing with similarly situated women as well. "hey want to pregame at my 3 bedroom with a balcony that i share with 2-3 similarly eligible people...bring your friends" lands a lot better than "hey come to my studio"....anyways, I'll stop telling you how to live your life, but just something to consider.

SCR has a new deck associated with its site visit: https://www.strathconaresources.com/wp-content/uploads/2026/07/Strathcona-2026-Lloyd-Thermal-Field-Tour_vF-WEB-Version.pdf They had a strong update with Meota getting to first steam under budget and ahead of schedule. Big value creating between the cost per barrel for production versus trading multiple. EQX and ORLA announced production for Q2 ahead of estimates. Microcap holding BAMI highlighted by DKAM.

I don't think I want them too. Keep the share price low so Fairfax can cannibalize themselves more.

It’s still supply and demand. Long term buybacks will reduce supply, sellers will face bigger capital gains bills so reduce supply and passive demand doesn’t care about value. Momentum investors moving in and out will oscillate the multiple but over time it should trend higher all else being equal.

*chukle* -You 'said' it, @CassiusKing1[, not any other of us], - - - o 0 o - - - Contents PART ONE / The Bubble 1. The Less Flattering Version 3 [*] - - - o 0 o - - - (*] <John thinks it was here and the interpretation of what it implied for the contents of the book that there arised variant percentpitions of after the release of the book.> - - - o 0 o - - - It's the only book that I've started reading about Warren Buffett and Berkshire, that I never finished reading in full. And I likely never will. At a certain stage I simply got enough of insigt to 'The Less Flattering Version'. - - - o 0 o - - - - I'm not trying to phrase a book recommendation here, btw.!

Any word on this @Loss Horizon? Crap like this is why I voted Leave in 2016.

such a confusing mess of holds and similar named corps