Parsad

Yes, I think $2B at the holdco would be the new comfort level with the size of operations now...and I'm not keen on including the revolver in that amount. If you want to say we're a rock solid company, then you have to keep cash at the holdco...simple! Cheers!

Double yikes!! https://finance.yahoo.com/news/analyst-called-chinese-bank-turmoil-000000242.html Cheers!

Yes, they are simply using most of the funds to replace existing debt. In terms of cash balances in subs...yes, in normal times you are correct...aggregate cash is all that matters, because they could dividend up significant sums. But when you have a hard market, you cannot do that as readily, because it decreases your statutory surplus and the amount of business you can write. Thus why we have been carrying less cash at the holding company than the $1.5B Prem says he likes to have. Presently, they encourage shareholders to include the debt revolver as available cash, which isn't really the same thing. At some point, I expect them to pull money from the subs and have nearly $2B cash at the holdco level, but that may be a year or two out. Cheers!

Ron Olson is only as rich as he is because of his stake in Berkshire Hathaway. So while Olson and Munger would have been very successful in another universe solely as lawyers and real estate investors, it probably wouldn't be anywhere near what they are worth today due to Berkshire. Cheers!

Some terrific data and information in there! Cheers!

Chinese Borrowers Default in Record Numbers https://www.ft.com/content/f144f763-873c-4b4d-99e7-5e71ae07316d?ftcamp=traffic/partner/feed_headline/us_yahoo/auddev Cheers!

Did the same! Great minds think alike! Got my average cost down to just around $12 per share as it fell, and switched out of January 25 $17 Calls to January 25 $13 Calls at roughly the same valuation during the week. Right-sized the position as well, as it had gotten pretty big as it rebounded 50%+ since November 13th! All in all, up about 65% so far on the shares and calls combined! Can see $20 within range this month. Makes up about 12% of the portfolio presently. Fair value for the business remains around $22-25, not including value for the real estate...but I'm not counting on them selling the real estate. Cheers!

Yes, that is promising! Finally! Cheers!

Nope. It was a U.S. sting that caught the assassin. He was to take out the lawyer for the Vancouver sikh who was killed a few months ago. They also had a couple of other targets they were assigned to take out. This is very, very ugly for Modi and India. Reeks of the shit that Saudi Arabia was doing with Jamal Khashoggi. Will it get whitewashed like that incident, or will Modi's head be delivered on a platter in the next election? Cheers!

He was not in good shape...I think a few things went at the same time. Cheers!

In all honesty, I can't say it was just Charlie. But together, Buffett and Munger literally changed everything in my life from 1998 on! And I mean everything! Credit also belongs to Prem, Francis, Mohnish, Tim McElvaine, Larry Sarbit, Jo Ann Butler, Vinodh Loganadhan...this site, our dinners, my fund, etc wouldn't exist without all of those people. Whether I knew them well or I just met them on a couple of occasions like Buffett & Munger, it was always their generosity with their knowledge, time and experience that were some of the greatest gifts I've ever received. Many people seek out credit for things to get them into heaven, but it all ends here...it's what you do with your life here, for others, for society! That's the biggest lesson, above all of the investing ones...how you live your life. Cheers!

Well, I guess he isn't after all: https://bleacherreport.com/articles/10099175-mark-cuban-no-chance-ill-run-for-president-after-mavericks-sale-shark-tank-exit?utm_source=cnn.com&utm_medium=referral&utm_campaign=editorial Too bad! Hey but Prime Minister is available! Cheers!

I think he's going to run as a Presidential candidate. Cheers!

What's amazing about both Buffett & Munger is that for such old men, they have the most uncanny comic timing with younger people, and can make the most rational ideas starkly apparent to laymen. That's a rare gift...to be able to teach people while entertaining them, and hopefully make them better human beings at the end of it! Cheers!

I still feel sad to this day about Robin Williams...went well before his time...one of the greatest comics of all time, as well as a superb actor! Whereas Munger lived a full life, so it doesn't sting as badly. Either way, the loss of both is a loss for society! Cheers!

Yeah, Bucee's is one we want, alongside In & Out and Chik-Fil-A! Cheers!

My brother suggested this one today...great song...gets you hooked right away! Cheers!

Feel free to post your best Munger quotes, interviews, barbs, etc on this thread. Here is one of my favorites from his last Wesco meeting in 2011: https://www.thinkadvisor.com/2011/07/05/berkshires-munger-retires-from-cult/ Cheers!

https://www.berkshirehathaway.com/news/nov2823.pdf Berkshire press release. Cheers!

https://www.bloomberg.com/news/articles/2023-11-28/charles-munger-who-helped-buffett-build-berkshire-dies-at-99 How much knowledge we gained from him, and how much more left we will never receive! Happy for his long wonderful life, but very sad he's gone. Cheers Charlie!

No conflict. The obvious answer is to own FFH, which benefits from Fairfax India or Africa. That's what I did...sold any India I owned and switched it all to FFH. I then have the Indian exposure and still benefit from the fees. The funds are really meant for retail clients or FFH shareholders who want additional exposure to those regions. Cheers!

Real estate listings supply is also increasing in Vancouver with prices flat or starting to decrease. We're seeing increased volume on assignments of pre-built condo contracts. Car prices are falling here in Vancouver, but only a few dealers have offered lower interest rates on the loans. The rates have come down for leases of new cars (you can find offers in the 2.99-4.99% range, but used car financing remains expensive in the 7-9% range. Like I said last week...grocery prices are starting to come down. We've also seen 4 consecutive weeks of falling gas prices. Plenty of deals were offered on Black Friday and Cyber Monday...stores were relatively busy. Cheers!

I was referencing the cartoon, which suggested that Bernanke was dropping money from a helicopter, and was defending his actions. Cheers!

https://finance.yahoo.com/news/unit-benko-signa-prime-files-165026782.html Cheers!

Canada too! Cheers! https://finance.yahoo.com/news/canada-retail-sales-jump-0-133001320.html