Parsad

Anyone own a "Nothing" brand smartphone? What is your experience like with it if you do have one? Cheers! https://ca-en.nothing.tech/pages/phone-2 https://finance.yahoo.com/news/phone-startup-nothing-raises-funding-000000749.html

Hindenberg closing shop. Cheers! https://finance.yahoo.com/news/short-selling-firm-hindenburg-research-is-closing-up-shop-221608915.html

Buffett Groupie is one of the largest individual shareholders in Fairfax...he was at our first dinner as well! He was smart enough to keep adding and adding over time. Cheers!

Hilarious! I think there is a difference between Ben and Francis. When Prem passes, Ben, Christine, Stephanie and Nalini will become the largest individual shareholders of Fairfax. Ben is also a director...before they put any money into his fund...whereas this was the opposite with Francis. Lastly, it was Francis who initiated the conflict of interest reason for leaving, not Prem. I don't think it was an issue for Fairfax...it was an issue for Francis, because it was attracting unwarranted attention to Fairfax at the time the hedge funds were attacking. Francis is loyal to a fault and he felt it was better to distance himself as a VP of Fairfax and a money manager of Fairfax funds. Cheers!

Francis used to be a VP at Fairfax and sat on the investment committee. At that time, Fairfax had put some money into Francis' funds and Francis decided that it would be a conflict of interest to stay on while managing money separately for Fairfax. I think the same issue would come up if Francis sat on the board. If at some time, he no longer manages any money for Fairfax, as he is independently wealthy, maybe they will ask him to join. Regardless, he's still there as an advisor or sounding board to Prem whenever Prem needs him, and I would suspect any future board without Prem would feel the same way, especially since Prem's children are on the board now. Cheers!

Nice! Sounds like a wonderful trip! Don't give the kids too much homework! Cheers!

Francis is probably the nicest person you will ever meet. Believe it or not, he's quite shy, quiet and introverted, but opens up whenever people start talking to him about investments. He has the utmost respect for Prem and is incredibly humble...I think he would be the perfect Berkshire manager, not unlike Peter Cundill, who Buffett touted once as the type of investment manager he could see at Berkshire before hiring the two T's. Francis bought shares of Fairfax at $3 when it first started and he's never sold a single share. Cheers!

I'm guessing they are Punjabi or Sikh...they use a ton of milk to make an Indian cheese called paneer. Not uncommon to see the same thing in Costcos in Vancouver or Bellingham. They also freeze the milk and use it over time when it's priced cheaply. Cheers!

Please move the discussion around toxicity to vices to another thread...this is on what you are buying, not on whether weed or alcohol is worse! Cheers!

Blake this post by Jaygo is mostly correct. But it is based on what markets do over long periods of time. Sometimes very long periods of time...such as after 1929. The general idea by Jaygo...expect business to prosper over the long-term and stay invested in the market is correct. But like everything, even the stock market is influenced by its own form of gravity and stocks do not go up in a straight line. You cannot just pay any price for stocks and expect to outperform the general market. If you don't want to compete with the general market...buy an ETF. Having accessible funds to allocate to the market on a regular basis...be it annually or as you find ideas or after a significant correction...that helps. And lastly, avoiding permanent loss is the foundation you should build your wealth on. If something doesn't make sense or you cannot justify its valuation...move on. Find 3 foot hurdles rather than 8 foot hurdles. I would also not discount your intelligence, but suggest that regardless of what markets do, the above is timeless and works. Cheers!

+1! Cheers!

Your loss! Cheers!

https://finance.yahoo.com/news/haidar-hedge-fund-loses-33-132323872.html Cheers!

Yes. The funds going into Dakshana Foundation in India had to come from a foundation/non-profit at the source of origin...so a Canadian arm of Dakshana. Yes, it is all used in India. Dakshana Canada has minimal costs other than an audit and minor legal fees...no staff, etc. Cheers!

Dakshana Canada was created to facilitate Prem's annual contribution each year from his foundation to Dakshana, as it is Canadian and the funds were in Canadian dollars. Tim, Francis and I have been directors since it was created...Monsoon joined a few years ago. Cheers!