Parsad

So you're saying that aliens have no use for anything on earth. Wouldn't that include crypto? So the discussion around "intrinsic value" has absolutely zero meaning...regardless of what we are talking about. The truth is that in OUR world..."intrinsic value" matters immensely. Since we do find gold useful...our fiat currencies useful...and the products/goods our corporations make are very useful to us. Aliens be damned! Cheers!

The cheese looks wonderful, but those home made baguettes look spectacular! The crust looks perfect. Hard to find a proper baguette anywhere other than a French bakery! Cheers!

Hi Viking, yes we hit 20 years on February 20, 2022...going on our 21st year this February! Cheers!

Thank you for another interesting year! Merry Christmas and Happy New Year to All! Cheers!

She used a check that will take two days to clear through a data center. You used a form of payment that debited your credit card or account instantaneously. But at the end of the day, you both used the same fiat currency. Neither of you paid through crypto. Cheers!

Hi rkbabang, 1) I've followed cryptocurrency and blockchain technology probably longer than anyone on here...since Overstock.com started accepting and buying BTC and buying up blockchain companies in 2013. So to generalize and say there is a broad unwillingness to understand crypto is not fair. 2) That's not why the post was deleted or moved. The "Investment Ideas" Board is for stock-exchange listed stocks only. Not for commodities, fixed income, currency, real estate, etc. It acts as a library and research base for those listed stocks. Many postings on there are moved to the "General Discussion" board if it does not fit that criteria. Cheers!

While control is important...if control was the only thing motivating the Watsa family, they would have bought the total return swaps directly instead of through the company...he's good for it! They knew the business was undervalued...but they bought them for the company...not themselves. Cheers!

Not necessarily death. If Prem is no longer CEO or Chairman, the company can have a vote to retain the super voting shares as they are. If it is voted down, they can be diluted by share issuances. If a vote is not held within 5 years of Prem no longer being CEO or Chairman, then that would also remove the protection of the super voting shares. https://www.fairfax.ca/news/press-releases/press-release-details/2015/Fairfax-Announces-Modifications-to-Multiple-Voting-Share-Proposal-and-Postponement-of-Special-Meeting--of-Shareholders-to-August-24-2015/default.aspx Cheers!

I don't like Cathy Wood, but that video looks heavily edited. I suspect some Twit edited it to give the impression she is throwing those numbers around in that manner, which is probably not the actual context of the interview. Cheers!

Yes. That remains very true. Prem had appointed Paul Rivett as President. After Paul left, Peter Clarke was appointed President. Peter has been with Fairfax forever. So if something happens to Prem, Peter Clarke would take over as CEO with Andy Barnard overseeing Insurance as he does and Wade Burton leading Hamblin-Watsa. I would imagine Jean Cloutier would take over as President and COO...who has also been with Fairfax forever. You also still have many of the old guard like Chandran overseeing India...Brian (bond guru) Bradstreet overseeing Fixed Income investments...Jennifer Allen as CFO...pretty much all of the VP's at all of the insurance subs have been in that position for 10+ years. You have Lawrence Chin backing Wade at Hamblin-Watsa and if there ever was a pinch, Francis is a phone call away! Lastly, the board of directors retains a lot of the old guard experience like David Johnston, Timothy Price, Brandon Sweitzer, while adding newer, younger capable directors like Lauren Templeton. The Watsa Family would remain well represented with Ben and Christine on the board. I also wouldn't be surprised to see Paul Rivett back on the FFH board some time in the future, as Nordstar is now under arbitration and will be divided. I'm far less worried about Fairfax than I would be with Berkshire. The current team under Prem has shown years of success. If something happens to Buffett, Charlie and Ajit...that's three guys that are completely irreplaceable. Prem as a leader is irreplaceable, but the investment and insurance teams at Fairfax are as capable as him. Fairfax will keep rolling as usual, just shareholder's won't have that voice and face to lean on which is mighty comforting like Buffett & Charlie. Can someone run National Indemnity like Ajit? Can someone make acquisitions like Buffett? Maybe they will just roll all of the excess cash flow to Ted and Todd, and let the CEO's of each sub make their own acquisitions rather than leaving it to the parent company. It's simpler at Fairfax...everything flows through Andy to make insurance acquisitions or Wade to make investments. Prem and eventually Peter just gives the ok. Cheers!

Yeah! One thing streaming did is to create a ton of mediocrity. Unless you know what is worth watching on Netflix, you end up wasting plenty of time on garbage to find that hidden gem. Cheers!

2008. He was on the board of New Century when it went bankrupt...largest mortgage bankruptcy in history. He wouldn't talk about it after. Cheers!

I'm going to have nightmares about this! Cheers!

Noah would be dismayed...85% of global fauna would be extinct on this ARKK! Cheers! https://www.investors.com/etfs-and-funds/etfs/cathie-wood-loses-money-on-every-stock-she-owns/?src=A00220

https://ca.news.yahoo.com/donald-trumps-major-announcement-dumbest-184514165.html One of the funniest things I've seen in a long time! Hilarious! Cheers!

Direct one to one transactions on a large-scale basis will only happen if governments can track sales. The cost will come down on a transactional basis compared to banks and credit card companies, but governments will have to be able to track a transaction and determine who is generating revenue from that transaction. The tax authorities will not be stymied forever...they will demand their pound of flesh one way or another. Cheers!

It will hit $900 during the 1st Q of 2023 and $1,000 by the end of 2023...a year ahead of schedule. Prem's $150M investment will be $300M pretty soon! And those total return swaps are going to look pretty damn good too! Cheers!

Only if you have 100% of your wealth in crypto. Even those that are extremely confident in crypto's future don't have 100% of their assets in crypto. Even if you only put 20% of your net worth in crypto...the likelihood of the U.S. becoming authoritarian is still probably far lower than the long-term survival of current crypto coins. You are better off holding gold and diamonds offshore...at least they have some utility value. Cheers!

If you think the IRS isn't going to go after crypto wallets at some point, you are gravely mistaken. Even now you have to report any profits on crypto on your tax return. It's only a matter of time before they start tracking crypto accounts once regulatory measures are in place and enforced by securities agencies. Crypto will not be any safer than fiat currency accounts. Remember the Swiss bank account with only a number and no name associated. Well, we know what happened with those accounts. It may take some time, but the IRS and other tax authorities will be able to track and trace crypto accounts and transactions. Cheers!

I agree with Putin needing to save face to end the war. The only way that happens, which I've been saying from the beginning, is if he gets a piece of the Ukraine...bringing the Crimea region back into the fold. Cheers!

This is what I don't understand in your argument...the same cannot be said for the USD! You have tax revenues, gold reserves, resources, assets of the U.S. government all backing the USD dollar. It's not simply something priced out of scarcity. There is nothing backing BTC or other crypto...nada, zilch, zero! You can take a multiple of the total tax revenue base of the United States, plus the gold reserves, value of resources including land, constructed properties, intellectual property, etc and come to a valuation on a per capita or per outstanding dollar basis. Essentially you can calculate an intrinsic value for the USD. You cannot do this for BTC. You cannot even come up with any liquidation value for BTC. Cheers!

So your attorney friend...how does he bill? Does the invoice change every day with the large fluctuations in BTC? Does his billable hour change from $250/hr one day to $50/hr another day? He's really just doing nothing different than an attorney or broker taking equity in a startup, but instead he's accepting BTC which has more liquidity. Cheers!

If it's seized, then what good would BTC be? There was once a massive market for trading stamps...at least they could be traded for something. Current crypto is the new trading stamp...but with no set value that you can trade for. You may get $60K a coin or you may get nothing! Cheers!

Because they can't! 99% of the world currently would not accept BTC or other crypto for any other asset unless you pay a massive premium in price using the crypto. Then maybe you'll get some takers! I'm happy to sell a share of BRKA for $10M in BTC. Sharper? RK? Cheers!

If the rest of the world goes in the shitter...why would BTC have any value at all? Ask yourself that. Frankly farmland would have far more value! Cheers!