Haryana

Sleep Country Shareholders Approve Arrangement with Fairfax https://www.newswire.ca/news-releases/sleep-country-shareholders-approve-arrangement-with-fairfax-834766463.html

What level of racism are you talking? Can they complain of nuked civilians? "In concentration camps, the goal is wiping out the population, while internment camps do not have such a goal." Japanese did get wiped out though, by the psychological brutality of the internment camps. They were a very significant minority in Vancouver and did well in fishing. Also, they had a highly successful baseball team by the name of Asahi which is now part of Hall of Fame. Now you will have to use a microscope to find Japanese in Canada. What was once Japantown in Vancouver is now the Chinatown. Actually, after the war or internment was over, they were all deported out of the province of British Columbia.

Not much idea, just searched it up - https://simplywall.st/stocks/ca/diversified-financials/tsx-fih.u/fairfax-india-holdings-shares/news/positive-signs-as-multiple-insiders-buy-fairfax-india-holdin

In terms of cycles, theoretically, we swing between greed and fear. The optimism may take upto ten years to come back. However, the entity lacks the full characteristics of an asset, it can go to zero before that happens. One possiible scenario is that Canada seizes all assets of those Canadians who are of Indian origin including the residents and citizens. This already happened to Japanese during WW2. All those of Japanese descent were trapped including the citizens born in Canada. They were moved to special concentration camps after all of their homes, businesses and fishing boats were seized and then auctioned off. In response to such a similar scenario in WW3 where India might be on the side of Russia, Indian goverment may seize all the assets of Fairfax India.

Would it answer your question if I quote Warren Buffett quoting this: Woody Allen once explained why eclecticism works: “The real advantage of being bisexual is that it doubles your chances for a date on Saturday night.” Over the years, we’ve been Woody-like in our thinking, ...

At ipo time, there was extra optimism about them. A time of greed. Currently, there is extra pessimism about them. A time of fear.

Thank you for the conversation. I like your point that FIH has good high value positions like IIFL and CSB bank other than the main of BIAL. I see a parallel of IV accrual with Fairfax of four five years ago. Just like they were showing discipline by keeping low duration despite the complains and cries, in FIH they are staying put with value positions without running after the hot sectors of the day. Their positions are out of favour at the moment but they have the patience to let them get fairly priced. Not running after acquiring any over priced companies is the most important thing they are doing at the moment. We tend to complain for lack of action because it is boring but good investing is boring, a virtue. One of their tiny ventures in those three manufacturing or engineering companies could become a Digit like superstar within the next few years.

You may like to open their annual report once in a while so you will know they don't own any Quess or Thomas Cook in the Fairfax India.

Point is that value / margin of safety is more important than the fees just like higher income is more important than the taxes you have to pay on it.

The fees accrue for a maximum of 3 years and therefore is mostly paid off. Within each 3-year period, those fees are already accounted in book value. Actually, it is the book value that keeps on accruing and fee is already paid.

A few points with references to the recent 2-part post by @Viking : 1. "When should an investor sell an investment? According to Peter Lynch, a pretty smart guy, an investor should sell an investment when the story / fundamentals take a turn for the worse. Pretty simple. " FIH Implication: The India story / fundamentals remain the same as before and actually improving. 2. "Who got Fairfax the most wrong? The haters. Their hate stopped them from being rational. It stopped them from looking at the company objectively. " FIH Implication: Fairfax India is irrationally hated at the moment like Fairfax was hated 3 - 4 years ago. 3. "The three most important words in investing are margin of safety.” Warren Buffett “It is extraordinary to me that the idea of buying dollar bills for 40 cents takes immediately with people or doesn't take at all.” Warren Buffett FIH Implication: FIH market price might be just about 40% of its instrinsic value with future growth rate. 4. “Be patient. The stocks that have been most rewarding to me have made their greatest gains in the third or fourth year I owned them. A few took ten years.” Peter Lynch FIH Implication: This is where the hard work comes into play as selling could be a big emotional relief.

Fairfax vs Berkshire vs SP500 over the last 20 years.

This was an amazing two part post. A live case study including nuggets. Better than reading two good books.

One thing I like about Morningstar is their charts for Growth that include dividends for free, easy comparison.

First of all, many thanks for your postings. You appreciate dialogue and things pointed out, therefore, I dare present the following. Your numbers above seem to be without dividend. I think dividends should be reinvested for CAGR calculation. With dividends, the stock would be up ~330%with a CAGR of ~44% over that 4 year period. That is more than a quadruple. A $1000 would be $4290.

While there is "irrational exuberance" in the Indian stock markets, the financial sector is appearing as a value play. The regulators are going tough on the financial entities to apply the brake without hampering the economic growth. This has caused the FIH valuation to remain subdued as it has muted financial heavyweights of IIFL and CSB bank. Bangalore airport would have participated in the market sizzle if it was public as the travel segment is booming hot.

Fairfax holding Quess is recovering, doubled in one year - Thomas Cook India, another Fairfax holding, also doubled -

Worth quoting from your link - “Out of the 16 crore demat accounts now, about 75 percent are newbies that entered the market post the Covid-19 crash,” V.K. Vijayakumar, chief investment strategist at Kochi-based investment services firm Geojit Financial Services, explained to ThePrint. “They have only seen the market going up, and so the recency effect plays a factor here, making them believe the market will only go up.” He further said that the vast majority of retail investors are not doing their due diligence which, he claimed, was “a growing problem”. “They don’t have any idea of valuations. Far from doing due diligence, they are not even doing commonsensical monitoring,” he said.

American shorts are becoming a joke in the Indian market. No impact from the recent Hindenburg accusations either.

That is the beauty of this poll, with equal number of votes on each side.

What do you mean "the price stays where it is"? Why would that be? Did you mean P/B stays the same? In that case, the price would also double along with doubling of of book/equity.

My doppelgänger did it. I can answer on his behalf if any questions.

A school boy report on Fairfax: Final.pdf

Why do they have to wait till 2033-34 for planning? They already shortlisted locations and expecting the new airport by 2035. https://www.timesnownews.com/bengaluru/bengalurus-second-airport-harohalli-and-dobbaspet-among-7-key-locations-identified-article-112303818 The report is implying 54% with Fairfax but it already increased to 64% after 10% from Siemens. Sure, the report was already posted here. This should be discussed in Fairfax India thread.