Parsad

Fair enough! Cheers!

Took into consideration the current interest rate environment. Float cuts both ways. It's leverage that can increase exposure to catastrophe risks in a bad season...and this one seems to be shaping up to be a bad one for hurricanes/typhoons. Cheers!

+1! Cheers!

Haha! Cheers!

I don't know where some of these terms come from...value trap...woke! There's no such thing as a value trap. Markets always recognize undervalued assets over time. Money flows to those undervalued assets. If you bought something that the market never recognizes as undervalued...check the analysis. Either there is something fundamentally wrong with the growth of the business or errors in judgement in what true liquidation value is. Money will always seek out undervalued assets...it's like gravity. Cheers!

Ok, I just did my usual discount cash flow analysis of FFH, which has worked like a charm for 23 years. From my estimates, I get intrinsic value between $1,131 USD and $1,807 USD. The high end assumes FFH can do 15% ROE over the next 10 years, which has not happened over the last 10 years, so take that with a grain of salt...that would get MMM to his 2 times book valuation. $1,131 USD is the conservative valuation for intrinsic value. It should be able to achieve that with little difficulty...and would have a 1.4-1.5 times book value. Cheers!

You're partly right. They do hold some positions, but most are held for extremely short periods of time. Cheers! https://www.institutionalinvestor.com/article/b1k2fymby99nj0/Famed-Medallion-Fund-Stretches-Explanation-to-the-Limit-Professor-Claims According to The Man Who Solved the Market, Medallion’s strategy involves holding thousands of short-term positions, both long and short, at any given time. The fund makes high-frequency trades, but has also held positions for up to one or two weeks, per Zuckerman’s description. Robert Mercer, the former co–chief executive of Renaissance Technologies, allegedly told a friend that Medallion was right 50.75 percent of the time when it came to its millions of trades — adding that “you can make billions that way.”

The corn syrup is used in the center fillings...not milk or dark chocolate itself. Guittard chocolate is no different than Callebaut in how it is made and the ingredients used. Cheers!

RenTech used algorithms to find patterns that they could exploit through levered trades by the thousands and most were done in milliseconds. As you say, the average investor cannot access that type of processing or do the statistical modelling they were using. If you can...knock your socks off. But the average investor using TA is going to have less than average results. Cheers!

TA works in hindsight. It has no useful benefit in predicting what will happen next. I didn't care that Fairfax was at $400...I looked at price to book...it was at 0.55-0.6. That's all I cared about. Just like I don't use TA to predict when to sell. If FFH gets to 1.5 times book, I'm completely out. In between, I average in and average out. Simple and it works! Nothing to do with TA. Cheers!

Shaq gets served FTX papers at playoff game: https://ca.sports.yahoo.com/news/shaquille-oneal-finally-served-in-ftx-lawsuit-while-covering-celtics-heat-in-miami-214138113.html Cheers!

Please do not be offended. Phhhhhppttttttt! I couldn't find a raspberry emoji. Never used technical, don't need technical and if it serves any possible purpose at all, that would be for very short-term trading. Which I don't do. Really a waste of time and will not improve results one iota! Investors would be far better served taking any time at all spent on analyst reports and technical analysis, and just use it looking for fundamentally cheap companies to buy. And if they can't find any...they would still be better served not doing anything and just read a good book on business or investing instead. There are lots of things in life that I can see two sides to...technical analysis is not one of them! Unless you are a daytrader or speculate in extreme short-term movements of stocks, currencies, etc...it will not help at all...and I'm not sure it even helps them! Cheers!

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!