gary17

19% now lol

that’s why fairfax is cheap for a reason investors are happy to move on

I wonder if the total return swaps on its shares plays an impact too. That in accounting they need to assume shares that need to be issued due to theoretical settlement of the derivative contracts. Seems like EPS took a hit on investment losses - including related to TRS as share price in Q1 has been lower than Q4.

family trip to spain in march ! will start in london, then fly to barcelona, then make our way down by train to madrid then seville , and finally faro where we will catch a flight to london and spend a few nights there before heading home ! the biggest uncertainty is of course the high speed rail situation in spain; we may have to improvise and look at alternative cities

my observation: The right is "pro life" - absolutely no termination of life of any kind - but you are more or less on your own to find ways to pay for your own health , etc while alive. the left isn't necessairly "pro life" at birth or at end of life, but during your lifetime, they want to spend money to make sure you get free healthcare. different philosophies !

Does anyone know if DRIP is bought at avg price of the day or market -open price. My own observation / sense is market has been short Canada based on geopolitics. my 2 cents!

This is amazing performance ! Gary

I should also say thank-you to those who have shared thoughts with me about buying into the company I work for some 15 years ago - at the time I was contemplating, and many of you generously offered your view that definitely helped with my decision.

It has been a year of tremendous learning for me! I participated for the first time in an M&A of the company I work for, where I am both a shareholder and a member of the board/management team. Going through the financial and legal processes with the buyer gave me a fresh perspective on what I read so often in financial press releases. I now appreciate that behind each announcement, there are intricate matters stemming from both the buyer and seller organizations that must be resolved for a deal to close. I am quite pleased with my 20+% pre-tax return in the stock market this year—especially since I haven't been able to give the portfolio the attention it deserves due to my duties at work. I scaled back significantly on the leverage I used in the past and raised cash; my performance also reflects a significant decline in CSU, where I hold a relatively large position. A huge thank you to all the board members who have been so generous in sharing their ideas and analysis. Happy hunting in 2026! Gary

I was reading an article that says if BC has a M9 earthquake, all insurers in Canada could become insolvent. I suppose Fairfax would be severely affected too

Merry Christmas !!!!!!

I just assumed selling for booking gains to off set losses

Most people in Canada —Canadians or those aspiring to be— want a nation that is distinct from superpowers like the US or China, and we are proud of our unique culture, values, and traditions. However, to survive as an independent nation, we must be strong in our economy and defense. This requires capital, investment, and human talent. Extreme policies—whether 'woke' cultural agendas or radical environmentalism and socialism—will not attract the resources we need. Ultimately, these policies weaken the very foundation of what makes Canada, Canada. I agree with Bill Gates’ perspective: we cannot focus narrowly on reducing global temperature at any cost. Those costs have an immediate, negative impact on affordability and human well-being. We need a balanced solution that acknowledges our impact on the planet while ensuring the population can weather the necessary changes. The same logic applies to socialism. Most Canadians are generous and want to help the less fortunate. However, we cannot afford wasteful spending, red tape, and excessive bureaucracy that stifle productivity and investment. It is frustrating that the NDP’s solution to every problem—from housing to the environment to healthcare—seems to be 'tax, tax, tax.' We are so heavily taxed; healthcare is a shame compare to countries like Taiwan. Streets are not safe - in Japan - apple products are on display with no security wires . Empty home tax, etc did not solve home prices / cost of living. And carbon tax will certainly not solve enviromental issues - those in my life that say they care about the enviroment, fly the most to places. Drives the most. We should put resources back into the hands of innovators, setting clear goals and rewarding success. We need to attract talents that can create succesful bussinesses that solve problems. IMHO: economic strength is a prerequisite for social good.

there's an overall market correction happening IMHO.

Market is reacting to rate cuts i think

Markel has a 85% up potential !

Is this not the usual time of the month when market speculates if FFH may be added to an index.

i thoguht the 10% base line tarrifs is part of the reciprocal. anyway i am sure whatever the market reaction, they figured out how good or bad it is. i can't keep up with the different tarrifs, specific industry ones, the exemptions for USMCA, and then the reciprocal, too complicated.

I have a hard time undertsanding his English. So no tarrifs for 90 days. And after that 10% tarrifs ?

market losing confidence in the US

Are you saying buy mispriced bonds? you write too abstract for my ESL level English lol

Am I right market may be over reacting ?

ok so tariffs will impact low gross margin businesses the most and less on high gross margin ones as they can afford that 25% like an LV bag selling for $3500 is made of plastic - doesn’t cost $200 IMO so 20% tariff on a bag is like $40 for a $3500 bag