Parsad

Well, I'll be 54 in July. In the prime of physical shape, Tom Cruise can't hold a candle to me. My wife Margot woke up last night and told me she had the best sex ever...Margot Robbie that is. My helicopter was fueled and ready to whisk me away to work...of course, after I worked out for 3 hours and had muesli, yogurt and a protein smoothie. At work, I was managing $4B in between shooting a movie for Netflix and a documentary for Amazon. At 1pm, I went to lunch at one of the best restaurants in Vancouver and then a quick jog around Coal Harbour. Went home around 4pm where Margot and the kids were waiting for me. Our chef had prepared a wonderful meal and then I had a glass of Bordeaux as the kids told me how much they loved me and Margot wanted a repeat of last night! What a day! Ok...now imagine the opposite of everything except me being 54 and you've got the truth! Life sucks! Pppppphhhhhtttttt! Where the hell is my Margot? Cheers!

That's a good list! Cheers!

Was reading some old Globe & Mail October 2019 newspapers I had. Always fun to see what people were panicking about and what has transpired since. Most of the articles were fretting about China/US relations, WeWork, Cannabis companies, etc. The world was yet to go through the Pandemic a few months away, then massive inflation/interest rate hikes, a war in Europe and finally a mini banking crisis. Yet the S&P more than doubled between March 2020 and December 2022, then dropped through 2022 and rebounded into 2023. With all that volatility and global calamity, if you had just bought the S&P500 and held on in October of 2019, you would still be up 60% in less than four years! Shows how stupid and unnecessary all of our fretting and posting really is! Cheers!

Arguably French cuisine is the best in the world...equal! Cheers!

Seafood yes...the best salmon in the world...oysters...mussels...Dungeness crabs...East Coast lobster...seasonal spot prawns...etc. Truly spectacular seafood! Cheers!

The wildfires could just be aliens terra-forming Canada. Only aliens would come up with Poutine! Who else would mix french fries and cheese curds, then smother with gravy? And we all identify ourselves after each sentence with "eh?" Cheers!

+1! Yes, never fall in love with a stock. Fall in love with your portfolio (value) but not any one stock or investment. While there are certain advantages held by people who own/manage holding companies, investors have one advantage they don't. Investors can take advantage of bizarre market mispricing with relative ease...get in and get out. While Prem and Warren can do this too, they are also hamstrung by huge insurance and non-insurance businesses that cannot be sold quickly. If they are not managed properly, or the industry dynamics change, they are stuck with those businesses or sell for far less...such as newspapers, shoe business, etc. They also face all of the inherent obstacles of managing a holding company that an average investor never faces...corporate expenses, HR, audits, tax issues, industry regulations, board of directors, legal expenses, etc. After doing both, I can certainly tell you which one I prefer and which one is easier...the answer is the same for both! Cheers!

Sure. That may be a ways out...or it may never happen! Cheers!

LIV got nothing. The Saudi's will be funding future PGA growth and profiting with them. The LIV name will probably disappear over time and it will all just be the PGA. Yes, PGA made out like a bandit...that's why Monahan did it. He'll take the blame, but made the PGA stronger, better and the sole golf monopoly again. But gave up their soul and did it at the expense of many of their best player's who risked their reputation and turned away the money. Cheers!

Regarding why it's quite painful to watch the Saudi's get their mitts on the PGA. I don't think there is another sports organization that is in control of and connects with players/fans at every level. The PGA is responsible for numerous tours around the world, including virtually all of men's golf and lady's golf. They have their hands on college players, amateur championships, the senior's tour, instructors at every major golf course around the world, and any member who wants to handicap their game has to run through the PGA's programs and rankings. It was a virtual monopoly until LIV came along. While certain aspects of LIV were good for golf, it is the perfect stepping stone for the Saudi's to get into other sports. Cheers!

I know I'm a hyprocrite for breaking my vow to not watch the PGA, but I had to watch Canada's Nick Taylor eagle the playoff to win the RBC Canadian Open...a Canadian hasn't won in 69 years! Way to go Nick! What a putt! Cheers!

I'm not happy about any of it. I wish the U.S. and Canada would simply approve the use of domestic fossil fuels in a managed, efficient, "as clean as possible" manner to create energy independence away from the Middle East, while continuing to pour more resources into clean energy. The more the OPEC monopoly is toppled, the better it is for the world! Cheers!

Because she's crazy! Has zero clue about risk management. Cheers!

McIlroy is not the face of golf...he was a while ago. Scheffler and Rahm are the best players on the PGA tour...and Dustin Johnson and Koepka are the best players on LIV. McIlroy became the defacto face of the PGA after the dissidents left and his stance on staying loyal to the PGA. The PGA used him...Tiger...Nicklaus. At the end of the day, it was all about money...money to leave the PGA...money the PGA did not want to give the players...money that the PGA gladly took to sportswash the Saudi atrocities. Cheers!

https://www.cnn.com/videos/us/2023/06/10/las-vegas-alien-ufo-backyard-report-police-orig.cnn Cheers!

https://www.cnn.com/2023/06/08/investing/bull-market-story/index.html Cheers!

Now locked...time to move on to "Have We Hit The Top?" thread. Cheers!

Also looked at it yesterday...the debt gave me pause. Cheers!

Shareholders should know that the investment portfolio is partially dispersed among the less senior investment managers and analysts. So you might see some esoteric ideas in the portfolio at different Fairfax subs and some of those ideas are testing the waters or involve the individual smaller portfolios being managed by those managers and analysts. All big ideas, and most of the investment portfolio, runs through the Investment Committee at Hamblin Watsa. Kind of like how Ted and Todd manage some money for Berkshire, but Buffett handles most of it. If you see big ideas, you know it's Buffett or Hamblin Watsa. If you see smaller ideas, it is likely Ted or Todd and in Fairfax's case, these other managers and analysts outside of the Hamblin Watsa Investment Committee. Cheers!

100% correct! In the depths of the GFC, nobody questioned Prem and many also thought that it could be a 2nd Great Depression. Fairfax not only invested in CDS but made sure that their counterparties could pay out and wouldn't fail. At that time, that was pretty hard to do when Bear Sterns went down, then Lehman and there was a very good possibility that Goldman and some major banks could fail as well. Cheers!

We've been exposed to this a couple of times in the last five years with wildfires not far from Vancouver. No real actionable opportunities...just poor air quality and cancellations of some events. Now if the fire gets closer to a major city...that would be very different. Cheers!

+1! Great analogy! Cheers!

Amazing how quickly and easily the PGA effed over Jack Nicklaus, Tiger Woods, Rory McIlroy and a host of other loyal players, as well as the 9-11 families. Saudi money talks, everyone else walks! After 30 years, I won't be watching any more golf. Cheers! https://bleacherreport.com/articles/10078375-pga-tour-liv-golf-dp-world-tour-agree-to-merge-and-end-all-pending-litigation?utm_source=cnn.com&utm_medium=referral&utm_campaign=editorial

Should we lock this thread and move to the "Have We Reached The Top" thread? The bottom hit pretty much in June 2022 and then again in October 2022. S&P500 is up about 17% from the October 14, 2022 bottom and the Nasdaq is up almost 25% during the same period. I certainly don't think this will be a straight forward market for the next 18-24 months, but you had two good buying opportunities last year and markets are up...especially tech. Time to let the market run until it hits a top and people fret about something else. To me, I think it's going to be CRE and RRE...as well as possible sovereign debt issues around the world...but those may be a year or so away. Cheers!

That's really as good as it gets if you also have good health! Stay delusional! Cheers!