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UK

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UK last won the day on February 17

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  1. Nimble move:). Curious if you sold it all / for good or until somewhat lower valuation?
  2. Plus: "When you put all of that together, we look at that operating income of $4 billion as a pretty conservative number."
  3. "In the fourth quarter of ’23, the net earnings of $1.3 billion included pre-tax net expense of $781 million, and the net earnings in the full year of 2023 of $4.4 billion included a pre-tax net benefit of $210 million related to IFRS-17. The pre-tax amounts are reported within two financial statement lines in the consolidated statement of earnings." It seems that this item has reversed back quite a bit in q4?
  4. https://en.wikipedia.org/wiki/Hampi I really liked this place and remember traveling to it via Bengaluru.
  5. Second bullet: "The aggregate projected loss of the top three concentrated stocks (and their derivatives) will be compared to what would otherwise be the aggregate portfolio margin requirement, and the greater of the two will be the margin requirement for the portfolio." Does this mean that for an account, with a large position in FFH, margin requirement will be calculated as if it's top 3 positions were zero: at the extreme no margin, if an account has less than 3 positions, or a big reduction of it, by zeroing top 3 positions? Is this normal/common practice by IB?
  6. Thanks for these snippets!
  7. Yes, but didn't they supposed to accumulate their position (short) before the publication? This seems plausible and maybe also would explain the quality of the work:)
  8. So I was reading about this whole situation and allegations (which seems quite silly and bizarre, nothing to add, and many thanks everybody for discussion on it), but one thing, if true, I do not quite understand: "Block appeared on CNBC on before markets opened Thursday to reveal his short position. Data compiled by Bloomberg show that 0.7% of Fairfax’s float was shorted as of Thursday morning." "Fairfax currently has a short interest of 0.65% of free float worth C$203.81 million ($151.36 million), with short sellers having made over C$21 million in paper profits so far today, according to data from Ortex." How does this short selling operation even make any sense, If short interest is really so low?
  9. Nice start of the year!:)
  10. It was a very good year:). Up 74 percent pretax in EUR. META & other from magnificent 7, FFH, JOE, BRK and some lesser/more speculative things. Also was ~120 percent invested at the start of the year. Big thanks to Parsad, Viking, Gregmal, gfp and many other participants of this wonderful forum!
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