Parsad

Possibly. But are you buying the S&P500 or individual stocks? If you are buying individual stocks, it doesn't matter what the S&P500 or Nikkei 225 do. Cheers!

It isn't. Cheers!

I'm not sure you guys are eating the right chocolates at See's. The chocolate that See's uses is from Guittard, which makes excellent chocolate comparable and on par with Callebaut. https://www.guittard.com/ Cadbury, Lindt, Hershey's, many common Belgian/Swiss brands don't even compare to couverture chocolate like Guittard or Callebaut. Most are known for their milk chocolates which aren't even in the same realm as quality dark chocolate. It's like Tim Horton or Dunkin's coffee and true Italian espresso. Cheers!

They deliver across North America. You can order online at See's. Cheers!

The fruit cream fillings in See's are terrific...for example the Dark Chocolate Raspberry Cream, Raspberry Truffle, Blueberry Truffle or Key Lime Truffle. As good as anything Ghiradelli, Godiva or Teuscher make. Cheers!

I would imagine any escape clause in the contracts probably has a significant penalty or fines. Most of the ZIM contracts are LNG shipping 12-year contracts. The fines must be pretty big for each year they default on the contract. It also wouldn't bode well for any future bids for Atlas' services by ZIM if they broke large contracts. Thus why they are probably taking hits on other contracts at spot prices...probably 1-2 year contracts where they are breaking the terms rather than break a 12-year contract with Atlas. Cheers!

Update on shipping industry. Atlas was one of the few shipping companies to sign 3-5 year contracts when spot prices were high. They should come out near the top of the pile over the next 2-3 years. Cheers! https://finance.yahoo.com/news/shipping-line-zim-gets-hammered-193702984.html

I would be perfectly fine if FFH just traded at book value as it grows. I would rather see that than see something crazy like 2 times book value. I've got a lot of capital gains in my taxable accounts that I don't need to trade in and out of, and then pay taxes on those gains only to buy FFH back as it becomes undervalued again. Just grow at 15% per annum and stay priced at book value forever! Cheers!

The peanut brittle is good, but the chocolate is better. Cheers!

No, I love float! But I'm a cult follower of Ben Graham...margin of safety. If you are prepared for the worst, you usually will come out fine in a catastrophe and do well on the upside after. Cheers!

Looks like FFH analyst estimates range from $790 USD to $1,346 USD. So roughly $1,050 CDN to $1,790 CDN. Pretty wide range, but I think that lower estimate marks the bottom of where shares should be trading. https://finance.yahoo.com/news/analysts-just-cut-fairfax-financial-120606487.html Cheers!

Chinese comedian fined $2M by culture police for innocuous joke about China's military. Cheers! https://www.cnn.com/videos/world/2023/05/17/exp-china-comedian-fine-comedy-asia-jiang-lok-051712pseg3-cnni-world.cnn

Should break all-time high tomorrow! Will we break $1,000 CDN per share this month? Cheers!

If they setup a banking subsidiary, there would be even more restrictions on what they could do and how they could invest their float, etc under Dodd Frank...may even require divestment of some of their non-banking interests. Cheers!

Apple and Google won't become banks themselves. All they have to do is setup up a subsidiary called "Apple Bank" or "Google Bank" and apply for a banking license. They have more than enough cash and cash flow to fund the subsidiary and start taking deposits and lending funds. The only reason they haven't done so already is that they don't want to be seen as "systemically important" institutions and brought under banking scrutiny and regulations. It's why they use other financial institutions right now to test the waters. But there are ways around that and it won't be long until they move into banking. Cheers!

Apple would neither have a hard time starting a bank, nor doing what VISA does. Apple Pay will become what VISA is. Cheers!

All they have to do is apply for a banking license. They already have the consumer network. It would be pretty easy for any tech company to start a bank...just like it is for anyone with $1M or more to start a bank if they wanted. Cheers!

https://www.barrons.com/articles/cryptos-players-hoarding-bitcoin-tether-aed13251?siteid=yhoof2 Cheers!

San Francisco tower sells for 73% discount from 2020 price: https://finance.yahoo.com/news/san-francisco-fire-sale-downtown-120042720.html Just the beginning! Going to be a huge mark down of CRE prices on financial statements. Cheers!

I think banking is one of the few industries that has been pretty adept at changing with the tides so far. Over the last 125 years, there has been enormous change in banking, especially in the last 20 years. Yet, they seem to find a way to adapt. Now, I'm not sure that is going to happen going forward. I think some large tech companies with their consumer dominance (AAPL, GOOG, META, MSFT, AMZN) have the cash flows and networks to start offering services very much in line with banking...savings, loans, credit cards, mortgages, investments, etc. We are seeing that happen. So it will be interesting to see how banks adapt to that as these companies delve deeper into that line of business. Banks may have to expand their other lines of business further like wealth management, investment banking, etc. I think the U.S. banking system is ripe for consolidation over the next 20 years. Regional banks will have a tougher time competing with the giants (both banking and tech/banking). Cheers!

Agree! You look like you are in fantastic shape. I wish I was you! Cheers!

Brilliant guy! Great real estate investor. Cheers!

Where does the hate end then? Look at Israel and Palestine. My nephew is half hindu and half sikh. Should he brought up to hate hindu's because of the attack on the Golden Temple by Indira Gandhi? Or should he hate sikh's because of the Air India bombing? Right now, he's just a kid that loves his family and everything about life! An eye for an eye makes the whole world blind - Gandhi. Cheers!

As Munger said, he doesn't know what he's talking about! P/B for banks stayed where they were because they were increasing and accumulating excess capital...both because of statutory requirements after 2009 and deposits from consumers...while buying back shares. There has been little disruption to banking so far...even with payment companies, etc. That will change, but the effect has been somewhat muted so far because banks adapted in the last ten years and increased other lines of business. Cheers!

Banks have a huge inherent risk because of their leverage and lack of transparency in their loan portfolio. It's a simple business that has become incredibly complicated. I think they need to get cheaper based on the current risks. Yes, retail based on P/E and P/B. Do they own their underlying real estate portfolio? Are cash flows somewhat reliable? Is debt manageable and are they paying it down? Are they turning over inventory or is it stagnant and building? Cheers!