mananainvesting

Yup, My Eurobank ADR shares at Fidelity got liquidated

Added to Fairfax

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Thanks, I'll try(may) adding a bit more tomorrow to help it go down further for others cheers

only a portion of his $150M position.

I got this from Perplexity.

Added to $FRFHF/$FFH.TO

Anyone knows what's happening here? Would hate for something like this ruin Fairfax's long term reputation. I am long Fairfax, and have no position in Avante. I have a general disdain for anyone screwing over minority shareholders. https://x.com/ChapTwelveCap/status/1978598470664487157

Added to $FRFHF/$FFH.TO

Added to my $FFH.TO/$FRFHF position

I own a lot more $FFH.TO than $FIH, one thing I always think of is, why should $FIH be public? 10+ years is a long time for a company to be always valued lower than intrinsic value. If market hasn't closed the gap till date, what will make it close the gap later? Sometimes, making things simple is the way to go. Fairfax should just take Fairfax India private or at least plan for it (if there are currently any regulatory hurdles). Note: I understand for a few years when launched, the stock was trading over book/close to intrinsic value.

Good discussion and I agree. The company's structure is such a huge advantage, that in itself should command a premium. Long Term thinking, Merit based, no hire during boom and fire during downturn!, Patience and every employee knows the company will never be for sale, so they can truly do good work and leave a legacy! how many such places in the world ?

Added to $VZ, yield still good, trades ~10x FCF, as interest rates go lower I am expecting yield to go lower (i.E higher stock price). Not advise.

@Saluki where do you see that? I couldn't find anything. Can you share a link please. I have no stake, just curious

Thanks for sharing your thoughts @Viking @nwoodman

Damm, that IRR is crazy for a mortgage loan!

India Inks Trade deal with UK, exports to UK to increase. Might bode well for BIAL over the long run.

Yup, looks like someone was misrepresenting Prem Watsa on Instagram Ads.

Pretty crazy that the Eurobank position is getting close to 50% of the Mcap of fairfax just 5 years ago! Nuts, wonder what the next 5 years holds.

Personally, I find 10% cost of capital for Fairfax is too high. A 20 year treasury is trading at 5%, I adding another 3% is fair. Keep in mind the culture at Fairfax, multiple lines, geographies and multiple subsidiaries are there exactly to reduce the risk of massive losses. But I can understand why one might have 10% as WACC. I can also make the argument 8% FCF growth over the next 10 years might be quite conservative. All I am saying is I think there is a good chance of Fairfax being materially higher than where the price is currently.

I created this DCF calculated with Gemini, if anyone wants to play with it with their own rates/fcf/other inputs feel free. I think it is a fun exercise. https://gemini.google.com/share/56a6083a6c0a

Hardly makes a dent on the 20 year price.

Ran a DCF on Fairfax FCF, even with an unheroic 8% FCF growth over 10 years , 4% after and a discount rate of 8%. Its almost a 10bagger from here over the next 20 years. I guess this would be the bear case ! Obviously this is not an investment advise. I am just having fun thinking of what could go right, coz my brain usually focuses on the downside first!

@Parsad: I think Ericopoly is no longer active here, any other platform we can engage with him? I went through some of his older blog posts, phew his calls were amazing!!! Also, him sizing his conviction!!!!

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