Parsad

House of the Dragon keeps getting better and better each episode. Hopefully the quality won't deteriorate next season with Sapochnik gone. Matt Smith was well regarded before this, but he may move into legendary territory! Cheers!

Buy low, sell high! Cheers!

It was a great show till about Season 4 and then things started to get over the top and the show headed in a different direction. Great actors and writing...was spot on Wall Street for several years! Cheers!

Truly a record that will probably never be broken! Astonishing! Someone other than Buffett that absolutely grasps intrinsic value. Cheers!

Comments from China's largest developer: https://www.wsj.com/articles/chinas-property-market-has-slid-into-severe-depression-real-estate-giant-says-11661863259?siteid=yhoof2

Whoa! Amazing work! I nominate Viking for a special Fairfax shareholder analyst award. This is probably more extensive than stuff the analysts at Fairfax put together! Cheers!

I've only read "A Hero With a Thousand Faces", so I'm not particularly familiar with all of his work. Cheers!

Haven't been to PEI, but planning a trip to see the East Coast. Heard nothing but beautiful things about PEI and that is one spectacular photograph! Cheers!

With $300B of new liquidity being provided by the student debt relief program, I can't imagine consumer spending not being great through Q3, Q4 and into next year. If you've piled on a ton of student debt, you probably aren't averse to piling into more debt on your line of credit, HELOC, credit cards or refinanced mortgage. I can see retail, car sales, travel, etc all doing well for the next year...since you've got to reward yourself for knocking off $10K of student loan debt from your $50K or $100K of student loan debt outstanding! I would imagine less than 25% will actually use this as an opportunity to get ahead and pay down more debt...the rest will spend an equivalent amount elsewhere. Cheers!

Sheesh! Build'em to house people and then tear them down to keep real estate prices/demand up. China Finance 101! Cheers! https://finance.yahoo.com/news/china-tears-down-tower-blocks-122948254.html

Denis Villeneuve may be the best science fiction director in Hollywood these days. He should have done the last three Star Wars instead of JJ Abrams. Arrival was terrific...Dune was also amazing! Cheers!

Yup! All parties should be supporting lower taxes and barriers for self-employed. You have the minimum 15% tax for large corporations going into effect in the U.S., yet self-employed pay higher taxes than that! In Canada, self-employed have a lower tax rate up to $500,000, but pay double the Canada Pension Plan and Employment Insurance premiums, plus have to pay for their own health care and extended health plans. Plus they aren't eligible for RRSP contributions unless they take a salary and pay regular tax on that. Cheers!

I'm not in a retirement community, but I downsized into a community with probably 65% of the residents are over 55 and retired. I'm about a decade and a bit younger than most of them, but I have to tell you...swimming from 1-3pm followed by a 4pm gin and tonic is pretty damn nice every day in the summer! Cheers!

It's hard either way. Remember, as a dual income family with kids, you have more expenses, but you have more income, tax credits, government support, subsidies, income splitting, etc. As a single person, you don't benefit from any of those things unless you are below the poverty line. I didn't benefit from one single thing during the pandemic...money dropping out of helicopters to everyone, and I didn't get a nickel. And if you are a self-employed single person...even tougher. Loans are harder to come by as you don't have any spousal income and are self-employed, pay twice as much on pensions/employment insurance, etc. Cheers!

What is it with you guys and gay people? They've been around since the dawn of man...whether your a creationist or evolutionist. Get used to it! Cheers!

Good man! If it wasn't steak, it would have to be ribs! What type of steak do you enjoy...T-bone, Ribeye, New York Strip, Sirloin, Filet...I start drooling when I think of any of them, but New York Strip's are my favorite. Cheers!

Congratulations on your new daughter! There goes any sleep for the next 6 months as well. Cheers!

https://finance.yahoo.com/news/us-mortgage-lenders-starting-broke-110002052.html Cheers!

...you often find out karma is a bitch! Cleveland Brown's prove why their management sucks and are the a-holes of the NFL. Love Deshaun's statement: "I'm moving on with my career and my life, and I'm going to continue to stand on my innocence," Watson told the media Thursday. "Just because settlements and things like that happen, doesn't mean that person is guilty for anything." He added, "I feel like the person has the opportunity to stand on his innocence, and prove that, and we proved that on the legal side, and we've just got to continue to push forward as an individual and as a person." Nothing proven on the legal side except you paid for 24 settlements! Cheers! https://www.cnn.com/2022/08/18/sport/deshaun-watson-suspension-fine-spt-intl/index.html

Fully agree! The legitimate ones help to create an efficient market, but the immoral ones that pump information and dump the stock, especially non-public information...well, there's a sweet place in hell for them! Cheers!

An old name keeps popping up from time to time...this time bitching about how someone (Ryan Cohen) possibly bought puts against a stock before a damaging headline came out. The irony and balls of this f**ker! I remember how his headlines used to come out like clockwork as well! Cheers! https://finance.yahoo.com/news/calls-sec-probe-mount-meme-140719594.html

After reading this, I have to wonder if a complete reset is necessary to get fundamentals back to the front of the line and scare the bejeezus out of the speculators and smart money: https://www.ft.com/content/1b21bb08-6590-49c6-8baa-5ad8c527fbcc?ftcamp=traffic/partner/feed_headline/us_yahoo/auddev Cheers!

I miss running a grocery store...over 25 years ago before I even started investing in stocks. Loved the grocery business! I read Buffett's Letter to Shareholders in 1998 and that was it. I found something more exciting than groceries! Been 25 years now investing and still love it like I did back then. Cheers!

I don't look for catalysts. I just look for undervalued...especially deeply undervalued. I've never bought any stock looking for a catalyst other than ORH...and that was because many of us thought that Fairfax was going to make a play for it. Other than that...I buy cheap, doesn't matter about management, catalysts, strategy, whatever. If its mispriced, the market will eventually ALWAYS recognize that disparity...as dependable as gravity. Cheers!

Hi Viking, anything can happen with legacy assets...anything can happen with insurance. Buffett may say that Berkshire is worth more than it's book value...but Berkshire has quality cash flowing companies that make money in the worst of circumstances. Would you put Recipe up against See's? Blackberry against Apple? What business at Fairfax has a similar moat or steady cash flows like Burlington Northern? FFH and BRK are still two very different animals at this stage. Even Berkshire is not immune to the laws of gravity in economics (valuation). One massive quake in Los Angeles and Berkshire's stock price will definitely drop below book. While that metric may be adjusted based on the quality of the cash flows being generated, it is still arguably the best simple valuation tool for finance/insurance businesses. I agree with you that FFH is cheap. Is it cheaper than other investments in the market? It is probably still one of the cheaper stocks in the finance/insurance sector...but there are other cheap companies out there as well. But FFH is definitely not as cheap as it was back in 2020. More things are lining up to allow it to grow and maintain momentum going forward than earlier, but on a valuation basis, it is not cheaper than back in 2020. Cheers!