Haryana

FFH = Flying Freakin Hott

just another article on the same https://www.foodbev.com/news/fairfax-financial-to-acquire-significant-stake-in-meadow-foods/ "Terms of the transaction were not disclosed."

The glorification of the War of 1812 happened just 10 years ago and a resurgent Trump could retrample NAFTA and NATO.

Conflicts and cooperation will continue in cycles. Even the most cuddly neighbours of the world, Canada and USA have had recent moments of intensity during the lumber dispute and the rewrite of NAFTA by Trump. Not to mention the glorification of the War of 1812 by the Harper government when the great Canadian warriors burnt down the White House to black soot. https://ncph.org/history-at-work/remanufacturing-1812/

(Previous report by DBRS Morningstar attached.) " Despite suffering insured catastrophe losses of $3.1 billion in 2022, which was the third most costly year on record, the Canadian P&C insurance industry reported a strong combined ratio well below 90% during the year. Although there was a slight deterioration in underwriting results when compared to the prior year, Canadian insurers benefitted from an advantageous pricing environment, contributing to solid topline growth. Their overall results were also positively affected by favourable prior year claims reserve developments following conservative loss estimates during the peak of the Coronavirus Disease (COVID- 19) pandemic. Nonetheless, the Canadian P&C industry is incorporating new loss trends due to natural catastrophes into their pricing strategies, and we expect premiums to continue the upward trend in parallel with a hardened international reinsurance market. As Canada experiences more intense and frequent extreme- weather events, the challenge is that certain zones of the country might become too expensive to insure against natural catastrophes, or become uninsurable altogether. " DBRS415537.pdf

Looking forward to Fairfax getting included in TSX60 index sometime in the next few years by replacing the Intact Financial. Just for some context and seeking to be corrected if wrong: TSX60 is expected to be comprised of the 60 largest Canadian companies. However, it is a bit more complicated than that. To allow for diversification and representation of different industries, companies with lower market caps are included if they represent a different industry that would otherwise be missed. Thus, Fairfax is excluded from the TSX60 even if it is about the 35th largest Canadian company by market cap. Market cap of Intact is about 25B, Fairfax should overtake that soon.

How wildfires are affecting some of Canada’s largest P&C insurers https://www.canadianunderwriter.ca/catastrophes/how-wildfires-are-impacting-some-of-canadas-largest-pc-insurers-1004236933/ " Despite facing a heavy loss year and an unusually active wildfire season, four of Canada’s publicly traded P&C companies — Intact Financial Corporation, Fairfax Financial Holdings, Definity Financial Corporation and Trisura Group Ltd. — reported positive underwriting profits thus far, according to commentary from DBRS Morningstar. Overall, the insurance companies reported positive net earnings for the first half — and second quarter — of 2023, thanks to consistent premium rate increases, less-volatile financial markets and higher interest rates, DBRS said. However, of the four companies, Intact’s results were negatively affected by higher-than-expected NatCat claims. "

Not Thrifty3000 here but let me take a shot at it for now and see if that hits or makes any sense to you or anyone present - Apparently that table is talking about only the investment portfolio. The expenses you mentioned are reasonably projected to be more than well covered by their underwriting operations and still have profits left over to be added on the bottom line. Income taxes would be significant but still the normalized earnings are surprisingly quite high with conservative assumption.

India WINS the space race to the Moon's South Pole: Chandrayaan-3 makes history by landing on the icy lunar region - beating Russia, China and the USA India has landed on the moon's South pole - an unmapped region of the surface " The South Pole is an uncharted territory that scientists believe could hold vital reserves of frozen water and precious elements. A lander with a rover tucked inside touched down at 8:34 am ET, sparking cheers and applause among the space scientists watching in the southern Indian city of Bengaluru. Indian Space Research Organization's (ISRO) successful mission marks its emergence as a space power as the government looks to spur investment in private space launches and related satellite-based businesses. " https://www.dailymail.co.uk/sciencetech/article-12436887/Indias-Chandrayaan-3-makes-history-landing-moons-South-Pole-time-beating-Russia-China-USA.html

Apparently most Western media houses have always been weapons of colonialism and expansionism to world domination.

Berkshire Hathaway & Fairfax Financial* Millennium Till Month comparison *No data in system for first few months.

https://www.thehindubusinessline.com/economy/logistics/with-akasa-airs-debut-bengaluru-airport-beats-other-metros-in-air-traffic-growth/article67158305.ece According to AAI data, Bengaluru airport handled 28.1 million domestic passengers in FY2023 registering 85 per cent year-on year-growth. In absolute terms, the airport is ranked third behind Delhi and Mumbai. However in percentage terms, Bengaluru’s growth was higher than that of Delhi, Mumbai, Hyderabad, Chennai and Kolkata. In April-June quarter FY2024 too, Bengaluru reported higher growth than the other metros. The airport handled 8.4 million domestic passengers, a rise of 35.5 per cent over same period last year.

That also was explanation for how Slumdog Millionaire dominated Oscars during the depths of 2008-09 GFC.

This is what is happening with AT&T (T) and Verizon (VZ) that have become undervalued due to negative press on Lead liabilities.

https://www2.deloitte.com/us/en/insights/economy/asia-pacific/india-economic-outlook.html/#what-lies "India, meanwhile, enjoys a Goldilocks moment as it sees its economic activity gaining momentum amid continuing global uncertainties. The last quarter’s GDP data was pleasantly surprising but not completely unexpected. The GDP growth in the fourth quarter has pushed up the full-year GDP growth of FY2022–23 to 7.2%, 200 basis points (bps) higher than the earlier estimate. The recently released Annual Economic Review for the month of May 2023 highlighted that the postpandemic quarterly trajectories of consumption and investment have crossed prepandemic levels."

BLR Airport ranked world #2 in (punctuality) performance after Haneda of Tokyo. https://www.cirium.com/thoughtcloud/most-on-time-airlines-and-airports-of-2022-cirium/ The top performing global airports of 2022 were: Airport On time ranking On time departure Total flights (HND) Haneda Airport 1 90.33% 373,264 (BLR) Kempegowda International Airport 2 84.08% 201,897 (SLC) Salt Lake City International Airport 3 83.87% 226,545

You are exactly right, 10 year FFH, now just gotta remember them diamond hands to the moon !

We get distracted with discussions on the extreme, that is, whether there will be a default. However, this rating is only the slightest downgrade from the topmost rating. This only calculates probabilities. How can Moody's say zero probability when we just had a Trump full term ending with 21 gun salute from a battery of four cannons? https://www.cnbc.com/2023/05/11/trump-endorses-debt-ceiling-default.html When pushed by CNN anchor Kaitlan Collins to clarify his remarks, Trump said: “Well, you might as well do it now, because you’ll do it later. Because we have to save this country. Our country is dying. Our country is being destroyed by stupid people, by very stupid people.”

gotta be some wsb meme

(Let me critique myself!) Critic: Aye yo, what up. You think it's that easy. What's on all that debt on them books? Retort: Yo bro, okay. Remember what pensies offered for 10% of Odyssey. Them insusubs are likely worth many times what they are carried on cost. Let this bird trade twice the book.

My math is very easy. I can take my $1000 to the treasury market and get treasuries worth $1000. OR I can take my $1000 to the Fairfax stock and get treasuries worth $2000. Not even expecting any profits from their underwriting or equity investments. Please criticize.

Not have to think about that. They in all likelihood know well that they are soundly financed. OMERS is always in the background, ready for some unorthodox dealings. Dividend is something they never want to touch. Prem mentioned before how they believe in the classic view of a stable dividend. This implies a dividend that is never reduced but only goes up with time. This is the reason that they have refused to increase it even when they could because they never want to have to cut it back down. Touching the dividend will be a major sign of weakness. Not necessary also. They would know more option to raise cash than we could imagine. Could we imagine FFH TRS?

Brett Horn strikes again! https://www.morningstar.com/stocks/xtse/ffh/quote Fairfax Financial Earnings: Strong Underwriting Margins Partially Offset by Investment Losses Senior Equity Analyst | Brett Horn | Aug 4, 2023 Fairfax Financial reported a solid second quarter with relatively strong underwriting margins. However, this was partially offset by some investment losses. While the second quarter was weaker than the first quarter, Fairfax is having a good year so far, with book value per share up 11% since year-end, adjusted for dividends. We will maintain our CAD 790 fair value estimate for the no-moat company and see the shares as overvalued at the moment.