keegomaster

Your posts reporting on the C position build-up made me take a quick look at the fundamentals: P/B = 0.42 (ycharts) P/E = 6.55 (google finance) Div yield = 5.13% (google finance) C almost meets the definition of Peter Cundil's magic sixes: "They are companies trading at less than 0.6 times book value (less than 60% of book value), 6 times earnings or less, and with dividend yields of 6% or more." ("There's Always Something To Do" Christopher Risso-Gill) I may add C to the watchilist! Cheers!

Trimmed down some BRK.B. At 1.45x BV it's getting a bit pricy. Planning to repurchase when PB goes back to around 1.3x

Closed my ATVI positions. Exited at $91.92 (19.8% return in 15 months, or about 15.8% annualized). I think there are better options than the residual 3% upon transaction close, and some risks still remain (albeit minor) with the UK's green-light.

Oh, thanks for making me aware that the rate had already been reset. I missed that news release (and it is also on the Enbridge website, so I can't believe I missed it). Yes, like @maplevalue mentioned, the 6.112% rate on $25 face value is $1.528 which represents 8.9% on the $17.11 I paid for the lot I bought.

Bought some Enbridge Preferreds (Series H) on margin. The rate reset is happening on Aug 30th and I anticipate the upcoming rate will have a ~9% yield that should cover the ~6% margin cost. EDIT: Like @lessthaniv pointed out, the rate was reset on Aug 2nd at 6.112%

Added (and plan to continue to add) to GOOGL on pullbacks

After seeing the comparison of P/E and P/B of FFH against the other competitors...I wouldn't be surprised if at some point in the future Berkshire makes a bid for Fairfax (similar to what they did with Alleghany).

You make a compelling argument. My question is what are the potential scenarios (optimistic, pessimistic, realistic) after three years? What normalized level of earnings could we expect? From the Q1 conference call, and Jen's comments, it seems like earnings will be more susceptible to interest rates due to IFRS 17.

Thanks for the analysis. Can't help but gasp at the value destruction. It's like Hamlin Watsa just set money on fire. Were it not for the hard market in insurance, and the smart no bond positioning management FFH would not be a good investment. Thanks for the thoughtful look back, Viking.

As another data point Prof. Damodaran has posted the following Implied Equity Risk Premiums updates at the beginning of the month (also showing the preceding month): Implied ERP on April 1, 2023= 4.88% (Trailing 12 month, with adjusted payout); 5.44% (Trailing 12 month cash yield); 5.72% (Average CF yield last 10 years); 5.19% (Net cash yield); 4.64% (Normalized Earnings & Payout) Implied ERP in previous month =4.78% (Trailing 12 month, with adjusted payout); 5.58% (Trailing 12 month cash yield); 5.50% (Average CF yield last 10 years); 5.34% (Net cash yield); 4.53% (Normalized Earnings & Payout) Source: https://pages.stern.nyu.edu/~adamodar/

Agree with Tom Russo or Tom Gayner.

Hi, I've been looking for a cheap way to subscribe to Bloomberg, and in the past I have found expired promotions for 2-year subscriptions from 3rd party vendors. Example 1, Example 2. Tonight I came across First American News (FAN), who are offering this 5-year subscription to Bloomberg Digital for $60. Wondering if anyone has experience with FAN in particular, or with other 3rd party vendors in general? Thanks! ~ Keego