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Sold my MMM position

I hear ya, but who could have sold than many shares? It would be like blackrock liquidating their position.

Well Mr. Market can surprise you The share price was 10% lower 3 weeks ago i.e there was a lot of selling at much lower prices too.

I would be very surprised if this is related to the TRS. Fairfax has always said that this is an investment and they treat it like any other investment. It would not make any sense to close out some of the TRS at this price. from an investment perspective.

Since the NCIB was announced on September 30, I believe Fairfax has bought back 1.5M shares (incl ~500k share in Q4). They still have about 700k share available to buy back from that NCIB (2.2M shares). Fairfax may not need to issue a new NCIB before the existing one expires, unless there is the opportunity for another very large buyback.

Finally finished my review of Fairfax Africa, or rather Helios Fairfax Partners. All feedback welcome. I have tried contacting IR to clarify a few things, but no response - they could REALLY do a better job communicating. But it's cheap, and has optionaity.

Hi all. Finally finished my review of Fairfax Africa. It's not material for FFH now, but you might be interested.

Aren’t there only 4-5 people/firms with that many shares to sell? So either a top ten holder in Fairfax liquidated or they took of TRS. Is that what you are thinking?

The real question is why someone would be selling at this price. I understand the need sometimes for fund rebalancing, but it would seem it is very poor timing to sell now. I thought the same when Fairfax was able to scoop up $2M share at $500US/share in 2021.

This stock is all over the place recently... someone is chatting behind the scenes about something or other

Looks like the bolded part IS from Privo. We have this debate every other day at work and keep throwing points out to one up each other, if it turns out to be productive then I combine all of it and post here. He did send. Didn't read the Privo part. That's what I was thinking, when did my stupid colleague become so smart. I have been tinkering with GLM in the office, so natural conclusion was that this guy saw what it's capable of and had a Eureka. LOL.

That's completely crazy. Where is the lurker?!?

Bought some BRK.B [Berkshire Hathaway B] shares today, and started a new tiny position in Nordnet Bank AB [SAVE.STO].

i think yesterday? and given your knowledge on the space i was having a hard time believing YOU copied them....so wow, that's pretty messed up but at the very least a nod to you my friend.

Holy shit. When was this out?

I would be very surprised / unhappy if it’s the TRS. Would be amazing if it’s a 2% buyback in 1 swoop.

this is news to me. Can you share the excerpt?

i really like reading your stuff, but either Goldman ripped you off, or you ripped them off....not sure which is which but should at least disclose sources....

We're still in the growth phase, so both CAGR and total return are monitored. CAGR over various time periods, and with breakouts for dividends, swing/pair trades, and capital repatriation. We need a 12% CAGR if we are to double every 6 years. It will change once we are in the draw phase. Cash yield above min draw requirements + a ROE high enough to double capital every 10 years net of inflation. Tracking, merely to ensure that we are on track. SD

My first thought is that it's hard to imagine they'd take off the TRS at today's prices, which seems bearish and looks like an admission that the price is likely to keep declining in the short term. On the other hand, this makes a lot of sense and allows them to cancel those 416,600 shares, which I think is about 2% of the company, as well as stop the bleeding in the form of payments to counterparties. If those shares are canceled, won't there be a SEDI insider report or some sort of filing within a week?

no need all they need to do is renew the NCIB

Would Fairfax issue any press release for this buyback of 2% of outstanding shares? They have not done this previously, although I believe we have not see a buyback this large since the Substantial Issuer Bid in 2021. I believe Fairfax has now likely bought back 5% of outstanding share since Jan 1st.

@SafetyinNumbers thanks for sharing this. I was about to ask if anyone saw the buyer for this trade. This certainly looks like a Fairfax buyback. We will get confirmation in about 2 weeks.

This could be the buyback. Scotia has the NCIB, no uptick, suggests it might be. The size might indicate it’s taking off TRS but I hope not.