gaf63

Corn states lead $25 bil crop loss payout, and how much of this amount was covered by FFH's subs.? Will be an interesting qtr. report http://www.bloomberg.com/news/2012-10-17/corn-states-lead-record-crop-loss-payout-bgov-barometer-1-.html

Thanks for posting the NG info from the conference, G

Thanks for the notes and all your work, good info for those who cant make it to Toronto

Apache said that their cost per mcf is $.50 and that they werent cutting back production. Cant see how they can do it unless it is associated gas.

Also Cheniere Energy has obtained financing and will begin construction this year http://phx.corporate-ir.net/phoenix.zhtml?c=101667&p=irol-newsArticle&ID=1665726&highlight= Looks like these plants are 3 - 4 yr projects , plus time for permit hell with the local govt.

Thanks for the link to the transcript rijk

According to the 4Q report they did sell 51% of treasury bonds at the sub level for an increase of $1.67 bil Major movements in portfolio investments in 2011 included the following: subsidiary cash and short term investments including cash and short term investments pledged for short sale and derivative obligations increased by $2,809.4, primarily reflecting the sale of approximately 51.4% of the company’s holdings of U.S. treasury bonds (measured using amortized cost) with the $1,673.7 of proceeds from the sales retained in cash or reinvested into short term investments, net cash received in connection with the reset provisions of the company’s long and short equity and equity index total return swap derivative contracts and the consolidation of the cash and short term investments of First Mercury and Pacific Insurance.

Hah! I'm just waiting for some poster who shall remain unnamed to jump all over you for that one! Yeh, the unnamed did cross my mind when I was writing, as to LVLT, if there are no improvements in cash flow in the next few qtrs. I'll have to bite the bullet and move on

Up 14.5% for all accounts, reg. + Roth IRA and cash acct., Main holdings , FFH and SSW, big mistake in not selling LVLT when it was up in mid 2's, biggest mistake: buying it in the first place

Merry Christmas everyone

http://www.bloomberg.com/news/2011-12-23/kynikos-third-point-are-dismissed-from-8-billion-fairfax-suit.html?cmpid=yhoo Unbelievable! The judge waits this long to decide that New Jersey is the wrong place for this suit. FFH lawyer says that they will appeal.

http://www.gmo.com/America/MyHome/

first off, take this for what its worth , zilch, however, I think its too late to print, the time to print and lower rates was months ago, the Germans are too afraid of their 20's/30's inflation and refuse to participate they may even wish for the union to dissolve , but the whole world would suffer including them, I'm in agreement with Watsa/FFH and their deflation bet , any qe now would probably be too little and too late

This book was also highly recommended by Howard Marks in his book " The Most Important Thing"

http://www.businessinsider.com/credit-crunch-arrives-in-europe-2011-11? If most euro banks follow Unicredit in reducing risk assets/loans, a collapse into a full blown recession cant be far behind

http://ftalphaville.ft.com/blog/2011/11/10/738151/what-does-it-take-to-get-a-new-lobbyist-around-here/ Original article from George Packer, http://www.foreignaffairs.com/files/attachments/PC1_Packer.pdf The monetary power of lobbyists needs to be constrained, but who of our representatives are willing to derail the gravy train. Not enough of them to pass effective legislation.

Bloomberg has 3 excerpts from their book with a 4th to follow, here is the link to the 3 rd part(with links to 1 & 2) http://www.bloomberg.com/news/2011-10-26/bias-blindness-and-how-we-truly-think-part-3-daniel-kahneman.html

Canadian stocks: PDS, below 8 at ~ 1.12 book,forward p/e at or below 10, ECA, at 80% book

Hedges looking better and better(Russell 2000 put went to a gain on Fri.), and excellent bond gains in qtr, should overcome cat and underwriting losses for a great qtr for FFH

Great common sense ideas that should be implemented! I would add for pt.10: Change presidential term to 6 yrs. so a president could implement his/her ideas w/o wasting 25% of time in office on reelection.

Up Down Up again , HFT's /computer trading benefits who? The HFT's need some oversight/regulation, SEC where are you???

Here are 3 very good articles about the current political drama Richard Koo comments on Rogoff and Reinhart's thesis in one http://www.businessinsider.com/reinhart-and-rogoff-dangerous-debt-ceiling-2011-8 http://pragcap.com/what-in-the-world-is-the-bond-market-saying?utm_source=twitterfeed&utm_medium=twitter http://economix.blogs.nytimes.com/2011/08/02/why-would-a-fiscal-commission-work-this-time/ All sourced from FT Alphaville

Looks like there has been a compromise of sorts, altho it is only a baby step to deal with the real issues, and the real work has been left to a later date, AND it still has to voted on by both houses of govt if the trigger mechanism actually forces a compromise down the road between cuts and taxes it could work Wont be holding my breath http://ftalphaville.ft.com/

http://www.marketwire.com/press-release/fairfax-financial-holdings-limited-second-quarter-financial-results-tsx-ffh-1543761.htm

Thank you for posting Mark's analysis on the debt issue/crisis This article should be a must read for all US politicians, hell , for everybody in the US