mananainvesting

@Cigarbutt Thanks for the share

National Bank on $FFH.TO https://x.com/acorn_capital/status/1899557738361077921

@Viking : Having 250 profit centers / insurance companies also helps with risk management. One really bad judgement/decision/risk assessment by one insurance company doesn’t take Fairfax along with it. One thing I wonder is how they manage exposure to certain events as a combined entity? who overseas that and how effective is it over the long run.

Anyone here done research on Commercial International bank? What in the monopoly money is this 50% ROE and ~10% NIM??????? (Replacing Prem's exclamations with my question mark)

Ok, pretty sure (95%) it is $BN.TO . The BN return doesn't even include the BAM spin.

Here is what Perplexity said .

The Acquirer's Multiple blog post on Prem / Fairfax. https://acquirersmultiple.com/2025/03/prem-watsa-knowing-when-to-shift-from-defense-to-offense/

Bangalore Airport: https://www.financialexpress.com/business/airlines-aviation-bengaluru-airport-unveils-greenfield-domestic-cargo-terminal-3762639/?ref=morelatest_hp

Added to $ACIC

Also, Let’s not forget Ki. It not just another insurance company.

$ESI.TO - Bison Interests (Josh) on their new position in Ensign. I am long as well.

I bet Fairfax would do a tender offer if they thought enough people would sell shares at CAD 1290! I really wish we have Brett as a Fairfax bear for much longer, helps Fairfax buyback shares on the cheap! and me/us too. Morningstar in this case seems like a nightstar! Too late/early to see the brightside.

Added to $ACIC

Post on X, BMO's report on Fairfax:

Took me a bit , but maybe here is how it works. Let’s say I am a bank who enters into a contract with FFH for TRS on 1 share at $100. For doing so $FFH pays me $10 per quarter. At the end of the quarter the stock is now worth $150. so I pay Fairfax $50(the difference), Fairfax pays me $10. At the end of the quarter if Fairfax doesn’t renew the TRS contract, I sell the stock in the market and recover $150. In the end I made a gain of $10. Please correct me If I am wrong.

I fail to see the benefit of TRS for the other party Why would the banks renew the TRS contract every quarter knowing how unprofitable it has been? If Fairfax is booking gains on the Contract, the other party should be booking losses right? Why would someone get into such a contract repeatedly? So are the banks effectively short $FFH?

Hmmm, seems a bit excessive (almost a 30% increase) compared to prior years.

At December 31, 2024 there were 21,668,466 (December 31, 2023 – 23,003,248) common shares effectively outstanding. During 2024 the company purchased 207,974 of its subordinate voting shares for treasury at a cost of $240.4 million and 1,346,953 subordinate voting shares for cancellation at a cost $1,588.4 million, or $1,179.24 per share. Total Change (decrease) in shares YoY: 23,003,248 - 21,668,466 = 1,334,782 Total shares cancelled + purchased for treasury in 2024 = 207,974 + 1,346,953 = 1,554,927 Difference = 220,145 shares Good questions, where did this go??

Some new Acquisitions: Albingia : More new here on the other partners => https://www.eurazeo.com/en/newsroom/press-releases/eurazeo-enters-exclusive-discussions-consortium-led-la-financiere-de

@djokovic1: Welcome aboard the $FFH train!

Added to $ACIC

Looks like it, as I did’nt have the option to delete, just the option to edit, which i did.

Sorry, had issues posting my comment and ended up posting the same comment multiple times.

$DXT.TO is another holding of Fairfax that has gone up ~40% over the last 12 months. I own some $DXT.TO and hope Fairfax just takes it private once the tax losses are harvested. $ESI.TO - This is up ~35%, company is paying down debt at $200M per year, imo lots of room for the stock to keep inching up as the company pays down debt! Another excellent investment by Fairfax team. Both are small positions, but clearly shows Fairfax’s investment at work!