barminov

No, not as far as I can tell. Also, excellent user name, sir. Exactly, if you look at the Odyssey filings, you'll see that they added total return swaps of $151m on Kraft, $152m on USB, and $240m on WFC. So, net, they haven't sold any of those holdings. Nothing has happened re: these holdings. Specualtion about material events at FFH can stop. My guess is they did this because the carry cost is lower than their opportunity cost elsewhere.

Life insurance in-force does not equal float. Life insurance in-force is the face amount of all outstanding policies plus dividends. Float is a small fraction of $113 billion.

Surprise surprise, the counterparties are our old friends at Citibank Canada and Deutsche Bank! I guess these guys learned nothing from the whole CDS thing. Maybe it's not such a good idea to sell instruments where you can lose a boat load and stand to gain a very small and capped amount. What the hell do I know though, I'm not a CFA and the highest math I got to was Calculus 2. ::)

I don't follow this company closely, but it was my understanding that the $42.5m of cash is before the rights offering. The new loan and facility are for $153m which more than covers the old loan and facility (roughly $143.5m). So, wouldn't you add the $40m from the rights offering to the $42.5? That gets you to $82.5m of cash or $0.63 per share plus whatever they have earned since the end of Q2.

http://www.newswire.ca/en/releases/archive/August2010/04/c8524.html

"The less prudence with which others conduct their affairs, the greater the prudence with which we should conduct our own affairs." -WEB I've run into it before but I just read it in Donald Keough's book "The Ten Commandments for Business Failure." Very good book by the way for those that haven't read it.

Anyone else notice these little gems in the discussion of holding company cash movements... -the investment of $24.5 in the start-up insurance operations of Fairfax Brazil -the company intends to redeem its remaining Series A and Series B preferred shares in the fourth quarter (as described in note 6) at an expected cost of approximately $139.8

Thank you Sanjeev! The new forum looks great and the functionality is way ahead of what we had on the MSN board. One of the downsides I noticed though is that attachments are limited to 128KB. Is it possible to increase this without incurring any extra cost? There are several ways to work around this so it's not that important but I thought I would ask. Once again, thank you for all of your hard work in getting this forum up and running.