Leaderboard

I first bought shares in Fairfax back in 2003. Since then I have been an active trader of the shares. I was largely out of the shares from around 2012 to 2018 (as I did not like what they were doing with their investment portfolio at the time). I started buying shares again in 2019 but sold everything (all my stock holdings) in early 2020 when it was clear to me that Covid was going to be a massive problem. I bought Fairfax stock again in October 2020, and backed up the truck in November when we got new a vaccine had been approved for Covid. I have had a pretty concentrated position in Fairfax since late 2020. This the longest I have ever continuously held a stock (let alone a concentrated position).

I first bought in 2004 @ 175 Cdn after the 4 hurricanes in Florida. I thought the bad news was already discounted in the prices. The stock went down further to 106 or so, I bought again. I have made subsequent purchases since then.

Francis used to be a VP at Fairfax and sat on the investment committee. At that time, Fairfax had put some money into Francis' funds and Francis decided that it would be a conflict of interest to stay on while managing money separately for Fairfax. I think the same issue would come up if Francis sat on the board. If at some time, he no longer manages any money for Fairfax, as he is independently wealthy, maybe they will ask him to join. Regardless, he's still there as an advisor or sounding board to Prem whenever Prem needs him, and I would suspect any future board without Prem would feel the same way, especially since Prem's children are on the board now. Cheers!

Just emailed you, thank you so much and very thoughtful of you.

First shares purchased in 2007 @ $217. Still have them.

Francis is probably the nicest person you will ever meet. Believe it or not, he's quite shy, quiet and introverted, but opens up whenever people start talking to him about investments. He has the utmost respect for Prem and is incredibly humble...I think he would be the perfect Berkshire manager, not unlike Peter Cundill, who Buffett touted once as the type of investment manager he could see at Berkshire before hiring the two T's. Francis bought shares of Fairfax at $3 when it first started and he's never sold a single share. Cheers!

mananainvesting https://www.choufunds.com/pdf/Letters of the Manager Since 1998.pdf I read these at least once a year. I always find something new. Another source that might interest you is an interview he did in Robin Speziale's book, (this link isn't the really good stuff). https://robinrspeziale.com/2017/03/02/my-interview-with-francis-chou/